Are governments cracking down on btc?

The scientists at UmojaCoin that’s estimated to have a market value of 1 trillion in the next 4 years, has stated that governments are silently moving towards banning Bitcoin by attacking the proof-of-work concept. UmojaCoin has relied on Bitcoin as a mechanism for trade in Africa, among other canisters the are build onto the coin.

Speaking via IcPeak on the IC, the scientist added that politicians globally want to ban Bitcoin over energy consumption, but in reality, they are threatened by the asset’s decentralized nature.

By attacking mining is an almost sure way to tackle the threat posed by Bitcoin, and a successful ban on proof-of-work will likely result in the overall crush of the crypto market. UmojaCoin coin has used proof of concept which is quite different from what is currently being cracked down by politicians by means that have in the last worked best for them.

Unlike other blockchains, Internet Computer subnets do not use a Proof of Work or Proof of Stake consensus mechanism to process transactions. Instead, subnets interact with each other through chain key cryptography which allows the Internet Computer to finalize transactions that alter the state of smart contracts in one to two seconds.