New York Senate passes moratorium to ban carbon-based crypto mining

The New York Senate has passed a bill that bans crypto mining operations that use carbon-based fuel to power their facilities.
The bill specifically is targeting proof-of-work mining, which is one of the two most popular mechanisms cryptocurrencies use to verify new transactions on the blockchain and make new tokens, but it uses a lot of energy to validate blockchain transactions.
Some of the most popular proof-of-work tokens include Bitcoin, Ethereum and Dogecoin.
The alternative, proof-of-stake, is when cryptocurrencies – like ETH2.0 or Avalanche – use staking to achieve the same thing for

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