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News — New York

A New York Bill Barring New Crypto Mines Would Be Bad for Business

bitcoin bitcoin miners cryptocurrency legislation New York

A New York Bill Barring New Crypto Mines Would Be Bad for Business

The New York State Assembly recently passed legislation that would stifle economic opportunity and innovation across the state at a time when jobs and economic growth are crucial to the state's economy. Get together bill A.7389C sets a ban on supporting new applications or licenses for computerized resource mining tasks, otherwise called confirmation of-work mining, that utilization electric power produced via carbon-based energizes, like coal. In any case, this foolhardy proposition will acquire little for the weather and convey true harm to regions of New York which are trying to attract new, creative groups. Proofofwork authentication verifies blockchain transactions for...

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Energy-intensity of PoW protocol has been a subject to keen scrutinity

bitcoin bitcoin miners cryptocurrency New York

Energy-intensity of PoW protocol has been a subject to keen scrutinity

A month and a 1/2 of after a failed try with the aid of using the European Union to prohibit proof-of-work (PoW) cryptocurrencies, New York State has determined to restriction this strength-extensive manner of mining cryptocurrencies on its territory. New York State's Assembly handed a invoice forcing a two-yr ban on forestalling giving new lets in in addition to restoring present licenses gave to PoW crypto diggers now no longer related to easy strength withinside the New York region. Bitcoin (BTC), ether (ETH) or dogecoin (DOGE) are all PoW cryptocurrencies, however ETH is shifting to the proofofstake protocol. Assembly Bill...

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