tesla accepting ada
Photo by Executium on Unsplash If Charles Hoskinson, founder of Cardano (ADA), has his way, Tesla should accept ADA instead of Bitcoin (BTC) as a cryptocurrency. Hoskinson reasoned why this is so, and not just because of energy consumption. Hoskinson sees Cardano as one of the most environmentally friendly digital assets. Hence his advice that Tesla should simply accept ADA instead of bitcoin. Tesla had begun accepting bitcoin as payment in March. In May, CEO Elon Musk revised this decision. Bitcoin is too energy-intensive to produce, he said. Bitcoins are mined using the Proof of Work algorithm. Complex tasks are solved, and miners receive bitcoins as a reward for solving the tasks. This process is accompanied by high power consumption. A fact that Tesla cannot tolerate if it wants to continue to be considered a pioneer in the world of green mobility. Cardano, on the other hand, works with the much more environmentally friendly Proof of Stake process. However, ...