PayPal proposes ‘cryptoeconomic’ rewards for sustainable Bitcoin miners

PayPal’s Blockchain Research Group wants to designate “green miners” and reward them accordingly with additional Bitcoin.

International payments giant PayPal has proposed to make sustainable Bitcoin (BTC) mining more economically attractive by rewarding miners through incentives layered on top of the Bitcoin network.

PayPal’s Blockchain Research Group, in collaboration with Energy Web and DMG Blockchain Solutions, has proposed using “cryptoeconomic incentives” to encourage Bitcoin miners to use low-carbon energy sources, according to an April 22 blog post.

The firm hopes that the experimental incentive contributes to further discussion and innovation around Bitcoin and is seeking industry feedback on potential improvements.

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