Chinese internet giant Baidu has announced a protocol to reduce crypto mining energy consumption, CoinTelegraph reports, citing a Chinese-language report in China News Weekly.
Calling it the “Super Chain,” Baidu’s blockchain chief scientist Xiao Wei revealed the new protocol at a conference over the weekend.
Super Chain can “insert and remove consensus mechanisms to solve the current energy consumption problem,” Wei said, and is also “compatible with the development system of bitcoin (BTC) and Ethereum.”
The protocol appears to address a key problem with crypto mining: the massive amount of energy it consumes.
The company’s latest blockchain project comes after Baidu released its blockchain as a service, or BaaS, product in January, and a digital image property rights management platform in April, CoinTelegraph noted. Read more here.