This is why CKB is secured by Proof-of-Work. Proof-of-Works provides unmatched security to a much-needed open and decentralized financial infrastructure while producing insignificant negative externalities.

Finally, it's worth reiterating that Proof-of-Work is the most secure and robust consensus mechanism in existence, with no reliable alternatives. Proof-of-Stake simply won't cut it, as we already explained in this thread 👇

Fees have a natural ceiling to them, as crypto users are only willing to pay so much per transaction before they start looking elsewhere. This means that the security costs will eventually reach an equilibrium that directly reflects the network's utility.

Like any other utility, the public’s willingness to pay for block space will determine the resources allocated to providing the service in question. With long-term coin issuance approaching zero, PoW-based coins increasingly rely on transaction fees to subside their security.

Myth 4️⃣: Cryptocurrency mining will consume all of the world's energy by year XXXX. This is just blatantly false. In the long term, any Proof-of-Work-based cryptocurrency's energy consumption is a linear function of its security spend.

However, more recently, oil producers realized that, instead of flaring, they could use the methane to produce electricity on-site and mine Bitcoin, significantly reducing their carbon footprint. A win-win for both Bitcoin and the environment.

This is also the reason why oil producers have developed an appetite for Bitcoin mining. In searching for oil, producers often find methane, which is uneconomical to transport and sell and is therefore burned in a very polluting process called flaring.

When China banned mining, miners moved to Texas, and for the same reason. In certain regions and times, Texas energy is abundant and cheap. Miners can serve the grid as a reliable buyer of last resort, increasing producers' profits and their own margins, without hurting anyone.