Tag: pow

Sep 20 2022

The Merge: what it means for Ethereum and other cryptos

The Merge has got to be the topic of the day in the cryptocurrency space since Ethereum took a step further to upgrade its consensus mechanism. This article explains the phenomenon and what it means for Ethereum and the crypto industry at large. After Bitcoin, Ethereum is the second-most valuable digital currency in the world […] The post The...

Sep 17 2022

Dogecoin Grabs Spot As 2nd Biggest PoW Crypto Following Ethereum Merge

Sep 17 2022 Published at Bitcoinist.com under tags  bitcoin btcusd crypto crypto news dogecoin

Dogecoin is making some noise now. When the Ethereum Merge finally concluded on September 15th, investors didn't see the massive market shift they were anticipating. However, one significant outcome of this event was that meme- inspired cryptocurrency Dogecoin has now become the second-largest Proof-of- Work (PoW) consensus-based network, trailing only the Bitcoin network in terms of market value. According to ETHPoW's official Twitter...

Sep 16 2022

Crypto Reacts: Was The Ethereum Merge a Success Or A Mess?

For better or worse, we live in a post-Merge world. Ethereum is finally a Proof-Of-Stake blockchain. The switch is among the most important and divisive news of the year. The Ethereum side sees it as a technological wonder and the bitcoin side as a great mistake. For the first time since we started the Crypto Reacts feature, both camps are at totally opposite...

Sep 01 2022

Which is Better: Proof of Work or Proof of Stake (PoW vs PoS)?

In the crypto community, there is a widespread debate about which consensus mechanism is better: PoW or PoS. This raises important issues such as network security, sustainability, and decentralization. In fact, both mechanisms have flaws. Before deciding which is best for a certain blockchain network, it is crucial to comprehend the trade-offs between each. In this article, we take a closer look at...

Aug 25 2022

Tron Uses Nearly 100% Less Energy Than Bitcoin and Ethereum, Study Shows

Tron beats top cryptocurrencies Bitcoin and Ethereum in the energy saving department, new research shows. Web3 has gained a very poor reputation in the field of environmental protection and sustainable development. This is mostly attributable to blockchains like Ethereum and Bitcoin, whose protocols demand enormous amounts of energy. Recent study has revealed, however, that Tron is one of the greenest networks available. The...

Aug 18 2022

Bitcoin advocate claims Vitalik Buterin does not understand PoW

Aug 18 2022 Published at CryptoSlate under tags  bitcoin ethereum mining opinion people

Swan Bitcoin founder Brandon Quittem said that Ethereum (ETH) co-founder Vitalik Buterin does not "deeply" understand the Proof-of-Work (PoW) consensus mechanism. 1/ I said "Vitalik never understood PoW deeply" I don't know if I'm right or wrong, but here are some...

Aug 17 2022

What is Proof of Stake?

Aug 17 2022 Published at CryptoTicker under tags  crypto education free resources peercoin pow

The proof of stake method is drawing a lot of recognition these days, with Ethereum shifting over to this method from the proof of work method. Proof of stake is a substitute method for transaction confirmation on a blockchain. It is developing in recognition and being utilized by various cryptocurrencies. To know the proof of stake, it is essential to know the fundamental...

Aug 13 2022

Ethereum ($ETH) Surpasses $2,000 As Merge Event Gets Closer

Ethereum (ETH), the second largest cryptocurrency in the market surpassed the psychological level of $2,000. This is an important moment for ETH investors and followers as the virtual […]

Aug 09 2022

Crypto Markets Have ‘Hit The Floor,’ JP Morgan Says, As Bitcoin Nears $24,000

The expectation of the Merge, a long-awaited improvement to the Ethereum network, is the primary factor for the recent rebound in cryptocurrencies, according to JP Morgan, which thinks the market has found its bottom despite low trading volumes. Bitcoin (BTC) and Ether (ETH) have increased by 35% and 101%, respectively, since their mid-June lows, and the overall market value of cryptocurrencies has regained...

Maximalists Could Use A Different Route, Says Bitcoin Core Contributor

Aug 09 2022 Published at Bitcoinist.com under tags  bitcoin btcusdt ethereum matt corallo pow

Bitcoin contributor, Matt Corallo, expressing his thoughts on Bitcoin maximalists, stated that every other culture aside from promoting BTC should end. He believes that the antagonizing culture of BTC advocates could hamper its growth. He added that Bitcoin made so much sense when it was the only cryptocurrency without a theft intent. This was so because BTC was the only digital token advocated...

Jul 04 2022

Eyes On POW: Biden Administration To Release Bitcoin Mining Report In Few Weeks

The PoW mining sector is of interest to the Biden administration. The White House is getting ready to publish a report on blockchain mining, according to Costa Samaras, the Office of Science and Technology Policy's (OSTP) principal assistant director for energy. Samaras noted: “It’s...

Jun 08 2022

Climate-Advocate CFTC Chair Wants To Change Bitcoin

Jun 08 2022 Published at Bitcoin Magazine under tags  bill cftc energy legal legislation

In a recent interview, Rostin Behnam revealed that if Lummis-Gillibrand were to be enacted, the CFTC could advocate for a less energy-intensive Bitcoin.Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam seemingly wants to leverage its probable future position as watchdog of the Bitcoin market to encourage a reduction of the peer-to-peer (P2P) currency’s energy use and incentivize consumers to find...

May 30 2022

Proof of Stake vs Proof of Work: The Differences Explained

Unlike fiat currency such as the US Dollar or British Pound which is printed, cryptocurrencies follow one of two models when it comes to the creation and validation of cryptocurrency onto the block...

May 26 2022

Proof Of Work Vs. Proof Of Stake: Why Bitcoin Won’t Change

As politicians and environmentalists have argued Bitcoin should move away from proof of work, they miss what makes the network so innovative.Bitcoin’s consensus mechanism, proof of work (PoW), tends to bring about divisive opinions in society. While some argue it is a core aspect of Bitcoin’s success, others claim the network would retain most of its properties while reaping new benefits if...

May 20 2022

Hacash.Diamonds partners with Neo to mint, promote Proof-of-Work NFTs

May 20 2022 Published at CryptoSlate under tags  hacash diamonds neo blockchain nfts pow

Hacash Diamonds (HACD) and Neo blockchain have announced a partnership to promote proof of work consensus in non-fungible tokens....

May 16 2022

SBF does not see Bitcoin becoming a payment network, lampoons its energy consumption

May 16 2022 Published at CryptoSlate under tags  bitcoin ftx payments pos pow

Sam Bankman-Fried (SBF), the CEO and founder of leading crypto exchange FTX, said in a recent...

May 12 2022

What Terra’s Collapse Teaches About ‘Crypto’ and Bitcoin

As yet another altcoin nears zero, the event reminds the community why Bitcoin is the only authentic cryptocurrency.Terra is crumbling.The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails...

Apr 22 2022

EU And Sweden Discussed Banning Bitcoin Proof Of Work: FOI Documents

Sweden's government is urging the European Union to prohibit energy-intensive cryptocurrency mining techniques such as those employed by Bitcoin. Indeed, according to documents obtained through a freedom of information request, EU officials discussed the planned ban on Bitcoin trading with their Swedish counterparts during a recent debate on the legislation to abolish Proof of Work mining. According to officials, such practices cannot be...

Mar 30 2022

“I Hold Bitcoin”- Ripple-Co-Founder Refutes Advocating Ban On BTC

Mar 30 2022 Published at Coingape under tags  bitcoin chris larsen ether news pow

Chris Larsen, Ripple co-founder, recently shared his personal comments on...

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