Ripple Did Not Fund Anti-Bitcoin Campaign, Larsen Says

Ripple co-founder Chris Larsen has clarified that the San Francisco-based enterprise blockchain company did not actually fund the “Change the Code” campaign.  

As reported by U.Today, Larsen joined forces with Greenpeace, a famous environmental organization, in order to pressure the Bitcoin community to drop the proof-of-work (PoW) consensus algorithm. 

In his most recent post, Larsen stated that Bitcoin had experienced a “remarkable” energy transition. He has noted that mining now mainly relies on renewable sources such as hydropower, nuclear, and wind, based on a recent study conducted by the University of Cambridge.

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In addition, flared gas, which would otherwise be wasted, is also used for powering Bitcoin.  

As reported by U.Today, Ripple recently faced some backlash from Bitcoin proponents after donating the infamous “Satoshi Skull” statue to the world’s largest museum dedicated to the largest cryptocurrency. 

Some, however, recalled the aggressive anti-Bitcoin ad campaign funded by Larsen.  

Ripple CEO Brad Garlinghouse also previously criticized Bitcoin for consuming too much power. As reported by U.Today, he previously described PoW mining as “massive waste.” 

Moreover, some have noted that the website that urged Bitcoins to move away from proof-of-work is still up despite Larson’s statement.