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Discover the benefits of Proof of Stake (PoS), a greener blockchain consensus mechanism ensuring security and decentralization in the web3 ecosystem. (Read More)
Justin Drake highlighted Ethereum's decade-long journey from ICO to institutional recognition, with upcoming spot Ether ETFs marking a new phase.
Ethereum's ETH2 Beacon Deposit Contract currently holds over a third of the network's supply.
Ever feel like you missed the boat on the last meme coin that went parabolic? With so many popping up and disappearing in the blink of an eye, its easy to get left behind. But every now and then, something hits differentreal utility, real community, and that all-too-familiar buzz that signals a true opportunity.
The post BTFDs $0.0002 Entry, FINAL100 Bonus, and 2900% ROI Make $7K Flip to $420K Possible6 Best New Meme Coins to Join This Month With BRETT and PNUT appeared first on Kanalcoin.
In a post on X (previously Twitter) on Friday, Grayscale announced the establishment of a “dynamic income fund” that would invest in proof-of-stake tokens. The fund, which goes by the ticker symbol GDIF, is reserved for authorized investors who have a net worth of $2.2 million or more, according to
Cardano (ADA) is advancing Marlowe, its smart contract platform, while facing challenges from leading blockchains like Ethereum and Solana. However,...
Change The Code, a Greenpeace-backed initiative that seeks to change Bitcoin’s consensus algorithm, has blasted Wall Street companies for the support they are showing to Bitcoin-related activities. On social media, it has called out companies like Fidelity, Blackrock, JPMorgan, and Goldman Sachs, stating their actions propping up climate-destroying technologies are “unacceptable.” Change the Code [...]
The post Change the Code Blasts Wall Street for Propping Up Bitcoin Initiatives appeared first on Crypto Breaking News.
The date has been set for the long-awaited Ethereum Shanghai upgrade which will allow phased staking withdrawals.
The amount of staked Ether has surged beyond 21.3 million.
The art piece has been admired and adopted by many Bitcoiners.
The next phase of Ethereum staking withdrawals is underway and the outflow is predominantly due to Kraken.
The Ethereum market has grown cautious around the long-awaited Shanghai upgrade, which will unlock 17.4 million ETH into circulation.
<p>As cryptocurrencies' popularity has grown in recent years, so has criticism of their environmental impact. The amount of energy required to power the blockchain networks that underpin cryptocurrencies has been a major source of concern, especially as the demand for energy-intensive mining operations has increased. </p><p>As a result, many blockchain projects are now using Proof-of-Stake (PoS) as a more energy-efficient alternative to Proof-of-Work (PoW) (PoW). </p><p>Evolution from Pow</p><p>PoW is the original blockchain consensus mechanism, and it relies on miners solving complex mathematical puzzles to validate transactions and create new blocks. </p><p>This process, however, consumes a lot of energy because it requires powerful computers to perform millions of calculations per second. As a result, many in the blockchain industry are concerned about the energy consumption of PoW networks. </p><p>PoS, on the other hand, is a newer consensus mechanism that aims to address the energy consumption issue by substituting a stake-based system for the computational work required in PoW. </p><p>Instead of miners, validators are in charge of validating transactions and creating new blocks in PoS. The amount of cryptocurrency that these validators hold and "stake" as collateral is used to select them. The more cryptocurrency a validator has staked, the more likely it is that they will be chosen to validate the next block. </p><p>Because it eliminates the need for miners to perform energy-intensive calculations, PoS is much more energy-efficient than PoW. Instead, validators are chosen at random based on their stake, and the only energy used is to power the validators' computers. </p><p>This has the potential to significantly reduce the environmental impact of blockchain networks while also lowering the costs associated with their operation. </p><p>PoW mining VS PoS mining. How BTC is solving its energy problem</p><p>With Bitcoin mining accounting for an estimated 0.27% of global energy consumption many have wondered if PoW mining is dead. </p><p>However, to put things in perspective, that means that Bitcoin is currently using less energy than, for example, all residential air conditioners in the world.</p><p>This fuels the debate whether PoW mining, namely Bitcoin mining is actually sustainable, especially when compared to PoS.</p><p>However, one should consider that this drop in the bucket gets further alleviated as around a quarter of its energy consumption comes from renewable energies; a fact that is surprisingly in stark contrast with the renewable energy consumption rates of many countries across the world.</p><p>Adding to those facts, there are several places in which Bitcoin miners have made agreements with their utility companies which entitle the companies to ask them to turn off their mining machines when the demand for electricity exceeds a certain level.</p><p>In fact, there are known cases in which the very utility companies will run their own Bitcoin mining machines as means to monetize energy which otherwise would simply go to waste. </p><p>As such, it is estimated that the energy that it is wasted yearly in the United States alone could easily power the entire global Bitcoin network given that the mining process only consumes roughly around 3% of the total wasted energy of the US.</p><p>Lastly, to further counter the argument that Bitcoin is rampantly consuming energy, one should remember that Bitcoin mining gear is portable which means that the owners of the crpyto’s mining equipment are highly incentivized to move them around to where the cheapest energy sources are.</p><p>Wrapping Up</p><p>PoS blockchain networks offer a promising solution to the environmental concerns associated with PoW blockchain networks. PoS can significantly reduce the energy consumption and environmental impact of blockchain networks while still providing the necessary security and scalability by using stake-based validation rather than energy-intensive calculations. </p><p>While there are still issues to address, such as the risk of centralization and stake grinding, many blockchain projects are working hard to address these concerns and promote a more decentralized and secure PoS ecosystem. </p><p>As many people are concerned about the <a href="https://www.financemagnates.com/cryptocurrency/gpu-mining-vs-cpu-mining-what-is-better/" target="_blank" rel="follow">environmental and energy impact of cryptocurrency</a> and blockchain networks, PoS provides a way to make these networks more sustainable and environmentally friendly. </p><p>This is becoming increasingly important as more individuals and institutions seek to invest in cryptocurrencies and blockchain projects but are hesitant due to environmental concerns. </p><p>PoS can provide advantages in terms of transaction speed and security in addition to environmental benefits. PoS networks can process transactions more quickly and efficiently because validators are chosen based on their stake rather than through energy-intensive calculations. </p><p>Furthermore, because validators have a financial stake in the network, they are motivated to act in the best interests of the network and avoid any malicious activity that could jeopardize its security. </p><p>Overall, the rise of PoS in response to the energy backlash against PoW demonstrates blockchain technology's ongoing evolution and maturation. As the industry develops and refines its approach, it is clear that sustainability and efficiency will be critical considerations in the future. </p><p>PoS is a significant step toward a more sustainable and efficient blockchain ecosystem, which can benefit both individuals and institutions.</p> This article was written by Finance Magnates Staff at www.financemagnates.com.
A deflationary Ethereum supply does not necessarily mean a bullish market for ETH, at least in the near term.
Cardano (ADA) is yet another Proof of Stake (PoS) network that aims to be a more efficient alternative to PoW networks and Ethereum.
OKB (OKB) and Aptos (APT) are two examples of a few tokens that have witnessed a price pump since the year began.
The SEC’s new move to rein in staking as a service could help make crypto more decentralized.
Continue reading Why the SEC’s ‘Staking Ban’ Is Not What You Think at DailyCoin.
Bitcoin and ETH are losing momentum after an SEC crackdown against staking services on Thursday.
The Securities and Exchange Commission (SEC) has charged Kraken with failing to register their crypto asset staking-as-a-service program.
Coinbase chief executive Brian Armstrong has raised concerns about the SEC’s stance on crypto staking.
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