Proof of Work (POW) and Proof of Stake (POS) are two different consensus algorithms used by various blockchain networks to validate transactions and add new blocks to the blockchain. In this article, we will explore the differences between these two consensus mechanisms.

Proof of Work (POW)

Proof of Work is the original consensus mechanism used by the first cryptocurrency, Bitcoin. In a POW system, miners use computing power to solve complex mathematical problems in order to validate transactions and add new blocks to the blockchain.

The first miner to solve the mathematical problem and find the correct answer is rewarded with newly created coins as well as transaction fees. The process of solving the mathematical problem is known as "mining".

One of the key advantages of POW is that it is a tried and tested mechanism that has been used successfully for many years. However, it has some drawbacks, such as high energy consumption and the centralization of mining power.

As mining becomes more difficult and requires more computational power, it becomes increasingly difficult for individuals to mine profitably, leading to the concentration of mining power in the hands of a few large mining pools.

Proof of Stake (POS)

Proof of Stake is a newer consensus mechanism that was developed as an alternative to POW. In a POS system, validators are chosen to validate transactions and add new blocks to the blockchain based on the amount of cryptocurrency they hold and are willing to "stake" or lock up.

Validators are chosen randomly, and those who successfully validate transactions and add new blocks to the blockchain are rewarded with newly created coins as well as transaction fees.

One of the key advantages of POS is that it is much more energy-efficient than POW, as it does not require the same level of computational power. In addition, POS is designed to be more decentralized, as it is not subject to the centralization of mining power that is common in POW systems.

However, POS is not without its drawbacks. One concern is that it may lead to centralization based on wealth, as those with the most cryptocurrency to stake will have the most influence over the network.

Another concern is that POS systems are more susceptible to so-called "nothing at stake" attacks, where validators could potentially validate multiple versions of the blockchain without being penalized.

Conclusion

In conclusion, both POW and POS are viable consensus mechanisms that have their own advantages and disadvantages. While POW has been around for longer and is more established, it is also more energy-intensive and subject to centralization based on mining power.

POS, on the other hand, is more energy-efficient and designed to be more decentralized, but may be more susceptible to centralization based on wealth and nothing-at-stake attacks.

Ultimately, the choice between POW and POS will depend on the specific needs of the blockchain network, and developers must carefully consider the pros and cons of each consensus mechanism before making a decision.

#PoW #PoS #Binance #crypto2023 #BTC

#Ethereum is a blockchain platform that has revolutionized the way we think about decentralized applications and smart contracts. It was created by Vitalik Buterin in 2015 and has since become one of the most popular blockchain platforms in the world.

But what will Ethereum look like in 10 years?

#VitalikButerin Buterin, the creator of Ethereum, has some ideas.

First, let's start with what Ethereum is today. Ethereum is a decentralized platform that allows developers to build decentralized applications (dApps) using smart contracts. These smart contracts are self-executing contracts with the terms of the agreement directly written into code. Ethereum's native cryptocurrency is Ether (ETH), which is used to pay for transactions on the network.

In a recent interview with Tim Ferriss, Vitalik Buterin shared his vision for the future of Ethereum. He believes that Ethereum will become a "global settlement layer" for the internet, meaning that it will be the backbone for all financial transactions on the internet. This includes everything from payments to insurance to identity verification.

One of the key features of Ethereum that Buterin believes will be essential to this vision is Ethereum 2.0. #Ethereum 2.0 is a major upgrade to the Ethereum network that will make it more scalable, secure, and sustainable. It will introduce a new consensus algorithm called Proof of Stake #PoS , which will replace the current Proof of Work #PoW algorithm.

Buterin believes that PoS will be much more efficient and environmentally friendly than PoW, which requires a lot of energy to maintain the network. PoS will also make it easier for people to participate in the network and earn rewards for staking their ETH.

Another key feature of Ethereum that Buterin believes will be important in the future is Layer 2 scaling solutions. These are solutions that build on top of Ethereum and allow for faster and cheaper transactions. Examples of Layer 2 solutions include rollups, state channels, and Plasma.

Buterin believes that Layer 2 solutions will be crucial for scaling Ethereum to the level needed for it to become a global settlement layer. They will also make it possible for dApps to handle more complex computations and interact with each other more seamlessly.

In addition to these technical improvements, Buterin also believes that Ethereum will become more user-friendly in the future. He believes that Ethereum will become more accessible to the average person and that it will become easier for people to use dApps without even realizing they are using a blockchain.

Buterin envisions a future where Ethereum is a seamless part of our daily lives, where we can use it to make payments, access financial services, and interact with dApps without even realizing we are using a blockchain.

Overall, Buterin is optimistic about the future of Ethereum. He believes that Ethereum will continue to evolve and improve, becoming more scalable, secure, and user-friendly. He also believes that Ethereum will play a central role in the future of the internet, providing a global settlement layer for financial transactions and other interactions.

Only time will tell whether Buterin's vision for Ethereum will come true, but one thing is for certain: Ethereum will continue to be a major player in the blockchain space for years to come.

#Blockchain #PoW #PoV #PoS #MTRG

Blockchain technology has come a long way since Bitcoin was introduced in 2009. Nowadays, there are countless blockchain projects, each with its own unique features and use cases. One such project is Meter Network, which uses a hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanism called Proof of Value (PoV).

PoV is a unique consensus mechanism that aims to address some of the issues that have plagued other consensus mechanisms, such as PoW and PoS. In PoV, the currency creation and record-keeping functions are separated, which makes Meter more stable, secure, and scalable than other blockchains.

Meter Network has two native tokens: $MTR and $MTRG. $MTR is the unit of account and medium of exchange for the network, while $MTRG represents the record-keeping consensus. Holders of $MTRG can participate in the governance of the Meter system, stake as PoS validators or delegates, and earn $MTR.

One of the benefits of PoV is that it consumes less energy than PoW, which makes it more environmentally friendly. Additionally, PoV provides instant finality, which means that transactions are confirmed as soon as they are added to the blockchain. This makes Meter more secure than other blockchains, as it reduces the risk of double-spending attacks.

Meter Network aims to complete Bitcoin's original vision and create a metastable sound money independent of the fiat system. It addresses performance issues with its hybrid PoW/PoS+HotStuff consensus and interconnects with other public chains to enable scaling.

Whether you're a newcomer to the cryptocurrency space or an experienced investor, Meter Network offers something for everyone. Its unique PoV consensus mechanism, along with its stable, secure, and scalable blockchain, make it an attractive option for those looking to participate in the DeFi space.

Litecoin (LTC) is one of the most #popular and used cryptocurrencies in the world.

Launched in 2011 by Charles Lee, #LTC was created as an improvement on #Bitcoin , with a focus on transaction speed and lower transaction costs.

The main advantage of LTC is the speed of block processing. It uses Scrypt's Proof-of-Work (#PoW ) algorithm, which allows new blocks to be generated every 2.5 minutes (compared to Bitcoin's 10 minutes).

❗This makes Litecoin faster and more efficient for transactions.

Like most cryptocurrencies, LTC can be used as a means of payment in various online stores and services. In addition, it is a popular asset for trading on exchanges and can be used as an investment tool.

📈 Thanks to its advantages and active development, Litecoin continues to attract the attention of both veterans of the crypto world and newcomers.

#BinanceVietnamSquare
#CKB
#Statebloat
#PoW

Nếu phải chọn một dự án và đầu tư trong 20 năm bạn sẽ chọn blockchain nào? Với mình thì đó là CKB - Common Knowledge Base (Nervos network)

CKB ít người biết tới nhưng những người biết tới và chơi CKB đều có những lí do rất vững vàng. Như sau:

1. PoW an toàn, dễ phục hồi nếu bị tấn công hoặc có sự cố. 
Cụ thể là cách đây không lâu CKB gặp sự cố không tạo khối được, các miners chỉ cần 2 tiếng để khắc phục. PoW cũng là cơ chế đồng thuận được "kiểm thử" lâu nhất với gần 15 năm hoạt động của Bitcoin với không 1 thông tin sai nào được ghi vào blockchain Bitcoin.
2. UTXO cell model. 
Mới đọc qua thì UTXO nghe rất vớ vẩn, ai lại sài UTXO trong 2023 bao giờ. Nhưng đó là UTXO của Bitcoin thôi. Biến thể UTXO của CKB dùng có tên là cell-model có nhiều đặc tính hay và vượt trội hơn account model của EVM nhiều lần. Vitalk Buterin nhiều lần thừa nhận việc áp dụng Account model cho Ethereum là bộc phát và cũng thừa nhận răng UTXO vượt trội hơn Account model ở nhiều mặt. ref: https://x.com/StakeWithPride/status/1703745380276445656?s=20
Nếu UTXO hơi khó hiểu, hãy tưởng tượng nó như là "tiền mặt có thể lập trình được vậy" và có thể kết hợp với nhau, di chuyển qua lại từ túi người này qua túi người khác theo chương trình trong smart contract.
3. Máy ảo CKBVM. Đây là một máy ảo mô phỏng theo RISC-V - là một kiến trúc máy tính "thật" được dùng để làm Chip máy tính chứ không giống như EVM hay Wasm. 
Đây cũng là một trong những quyết định gây tranh cãi tới từ nervos lúc họ bắt đầu dự án. Trong khi nhà nhà đang EVM* thì Nervos quyết định sẽ dùng RISCV. lol Thực tế thì gần đây, cộng đồng đang dần nhận ra RISCV có nhiều lợi thế trong việc tích hợp layer2 và ZKP (Zero-knowledge proof)
4. Độ linh hoạt CKB rất cao và điều này tới từ sự kết hợp giữa UTXO cell model và CKBVM.
Thực tế thì các máy ảo EVM hay JVM đều có thể/và đã được chạy(mô phỏng lại) trên CKB VM và giúp rất nhiều trong việc thiết kế Dapp trên CKB cho các chain EVM khác nhau. https://d.id/ là một ví dụ, nó cho phép người dùng Dodgecoin mua tên miền trên CKB với độ an toàn tuyệt đối.
CKB linh hoạt tới mức nó hiểu được hầu hết tất cả các blockchain trên thị trường. CKB-auth (là một thư viện cho phép chạy app trên CKB từ nhiều chain khác) tới hiện tại đã support tới tận 10 blockchain khác nhau bao gồm cả Bitcoin lẫn Ethereum. Chi tiết: https://github.com/nervosnetwork/ckb-auth
Thêm một ví dụ nhỏ là nó có native-account-abstraction mà Ethereum tốn mấy năm qua vẫn chưa thực hiện được. https://joy.id/ và https://d.id/ là các ứng dụng tận dụng lợi thế này
4. Ăn điểm nhờ độ linh hoạt, CKB có thể "chỉ cần cập nhật phần mềm lock script" để kháng máy tính lượng tử. Chi tiết: https://github.com/cryptape/quantum-resistant-lock-script.
Tương quan với Ethereum, blockchain này có thể phải ngưng blockchain trong vài năm rồi hardfork thì may ra sau đó mới hoạt động bình thường nếu bất ngờ IBM hay google ra mắt máy tính lượng tử. Trong khi Nervos đã làm xong tính năng này từ cách đây khoảng 6 tháng. Ref: https://x.com/busyforking/status/1714937072790974502?s=20
5. Ăn điểm nhờ độ linh hoạt, khoá private key dùng trong các hệ thống như Passkey trên điện thoại cũng có thể được dùng để khoá CKB trên Nervos blockchain luôn. 
Thực tế thì từ năm 2019 đã có PoC(proof of concept - phần mềm thử nghiệm) cho thấy ví Passkey là khả thi trên Nervos và Nervos đã phải "chờ" cho tới khi hệ thống trình duyệt(web browser) cùng cộng đồng hưởng ứng (Google mới support passkey trong năm 2023 thôi) thì họ mới bắt đầu làm passkey wallet để cho cộng đồng dùng. Sản phầm là Passkey wallet hoàn thiện đầu tiên: https://joy.id/
6. CKB có lợi thế là blockchain ra sau, và kiến trúc nó hiện đại hơn để có thể hỗ trợ nhiều dạng Dapp hiện đại và đời mới hơn.
Ví dụ cấu trúc trạng thái của CKB đã triển khai với MMR (Merkle Mountain Range) có thể cho phép chạy Fly Client Protocol (Đây là một giao thức Node "siêu nhẹ" với dung lượng cố định tầm 100MB... so sánh với fullnode ^20GB và tăng theo thời gian)
Fun fact thì Fly client protocol có công sức của anh Lợi Lưu, là founder của Kyber network tới từ Viêt Nam : https://eprint.iacr.org/2019/226
Thành quả là một trong những super light client đầu tiên trong ngành blockchain:
Supper light client protocol soft fork thành công: https://github.com/nervosnetwork/ckb-light-client (đây là softfork gián tiếp gây nên sự cố tại 1, nhưng đây là sự cố ngoài phần core của CKB!)
Super light client: https://github.com/nervosnetwork/neuron/releases/tag/v0.111.1 có thể đồng bộ toàn bộ blockchain CKB trong khoảng 2.5 tiếng. Tương quan thì Full client tốn 1 tuần để đồng bộ hoàn toàn blockchain CKB.
7. CKB sửa luôn cả state bloat trên Ethereum - hay tạm hiểu thì là vấn đề sử dụng tài nguyên chung bừa bãi trên các blockchain EVM mà có thể đẩy các blockchain này tới điểm tự phân rã.
Một CKB tương đương với 1 Byte data lưu trữ trên CKB blockchain. Nếu ứng dụng của A cần 200KB để lưu smart contract thì A cần mua 200_000 CKB để có đủ không gian lưu trữ cho source code của smart contract anh ta viết. Ví dụ một tài khoản AA (account abstraction) của https://joy.id/ tốn 150CKB để lưu trữ.
CKB có mô hình lạm phát mãi mãi - hay không có giới hạn như 21 triệu BTC bên Bitcoin. Nghe qua thì có vẻ không hảo với nhà đầu tư, nhưng việc lạm phát này có 2 tác dụng chính:
1 là để thu hoạch(một cách gián tiếp thông qua lạm phát thứ cấp) tiền thuê trạng thái (không gian lưu trữ trên CKB). Các CKB bị chiếm để lưu trạng thái hay mã nguồn của smart contract đều bị mất giá trị hàng năm do sự lạm phát này. Câu hỏi là sự lạm phát này chảy về túi của ai?? 👇
Sự lạm phát này được dùng để trả tiền cho 1. miner và 2. nhà đầu tư dài hạn trong Nervos DAO.
Nói một cách dễ hiểu, thì nếu bạn là miner hoặc là bạn bỏ tiền vào DAO, bạn có thu nhập thêm từ thuế lưu trữ các trạng thái (không gian lưu trữ) trên CKB. Và với nhà đầu tư dài hạn trên CKB, hiệu ứng cho số CKB bạn có (và thu được) là hiệu ứng giảm phát như của Bitcoin vậy. Về lâu dài, điều này tăng thêm sự tự tin cho nhà đầu tư cũ và sẽ đóng vai trò thu hút thêm nhiều nhà đầu tư mới.

Bitcoin rzuca wyzwanie odwiecznemu urokowi złota. Ponieważ te dwa ogromne aktywa rywalizują o dominację o prymat przechowywania wartości, przyszłość górnictwa obu stoi na rozdrożu. Co zatem wybrać: złoto czy Bitcoin?
Złoto, ze swoją długą historią, symbolizuje tradycyjne bogactwo. Z drugiej strony #Bitcoin jest liderem innowacji w świecie finansów cyfrowych.

Złoto czy Bitcoin: Co jest teraz lepsze?
Wydobycie złota przetrwało próbę czasu. Od wieków jest symbolem bogactwa i stabilności. Proces wydobywania złota z ziemi jest pracochłonny i obciążający dla środowiska. Pozostaje jednak kamieniem węgielnym światowej gospodarki.
Namacalny charakter złota i jego historyczne znaczenie sprawiają, że jest ono niezawodnym środkiem przechowywania wartości, zwłaszcza w okresie niepewności gospodarczej. W tym aspekcie szlachetny kruszec jest oczywistą odpowiedzią na pytanie: złoto czy Bitcoin?
W przeciwieństwie do tego, wydobywanie Bitcoin stanowi najnowocześniejszą innowację cyfrową. Polega ona na rozwiązywaniu problemów matematycznych w celu walidacji transakcji na blockchainie, która jest po prostu zdecentralizowaną księgą rozliczeń. Proces ten, znany jako Proof-of-Work (#PoW ), wymaga znacznej mocy obliczeniowej, a co za tym idzie, dużych ilości energii.
Rob Chang, dyrektor generalny Gryphon Digital Mining, powiedział BeInCrypto o strategicznym podejściu górników Bitcoina. Podkreślił, że wydobycie Bitcoinów może ustabilizować lokalne sieci i wspierać projekty energii odnawialnej. Ponadto oferuje wyjątkową korzyść, której brakuje tradycyjnemu wydobyciu złota. Chang powiedział:
“Górnicy poszukują taniej energii, zwykle na obszarach o niskim zapotrzebowaniu lub tam, gdzie może nawet nie być wystarczającego zapotrzebowania, aby utrzymać stabilną sieć. Obecność górnika Bitcoina, który wykorzystuje stałe ilości energii, jest korzystna dla regionów, w których lokalny obszar może nie mieć zapotrzebowania, aby uzasadnić stabilną sieć.”
Zarówno wydobycie złota, jak i Bitcoina ma znaczący wpływ na środowisko. Wydobycie złota często prowadzi do wylesiania, zanieczyszczenia wody i niszczenia siedlisk. Wysiłki mające na celu złagodzenie tych skutków obejmują bardziej rygorystyczne przepisy i rozwój bardziej zrównoważonych praktyk.
Jednak nieodłączny fizyczny charakter wydobycia złota stwarza ciągłe wyzwania środowiskowe.
Z drugiej strony wydobywanie Bitcoina jest krytykowane za wysokie zużycie energii. Chociaż temat śladu węglowego Bitcoina przyciągnął uwagę, branża coraz częściej zwraca się ku odnawialnym źródłom energii.
Chang zauważył, że konkurencyjny charakter wydobycia BTC napędza wydajność i innowacje. Natomiast to z czasem może prowadzić do bardziej zrównoważonych praktyk. Chang, odpowiadając na problem “złoto czy Bitcoin?”, zdaje się skłaniać ku temu drugiemu:
“Trudności z wydobyciem BTC są nieuniknionym wynikiem sukcesu Bitcoina i jest czymś, czego górnicy powinni się spodziewać. W rzeczywistości powinni to zaakceptować, ponieważ pojawią się one tylko wtedy, gdy Bitcoin nadal będzie odnosił sukcesy. Zachęca to górników do jak największej wydajności i wprowadzania innowacji, aby pozostać jak najtańszym.”
Konkurencyjne rynki wydobycia obu aktywów
Opłacalność ekonomiczna działalności wydobywczej ma kluczowe znaczenie dla obu gałęzi przemysłu. Jest ona też niezwykle ważna, aby zdecydować – złoto czy Bitcoin. Na wartość złota wpływa stabilność geopolityczna, wahania kursów walut i popyt rynkowy. Pomimo swojej stabilności, na rentowność wydobycia złota mogą wpływać wahania gatunków rudy i rosnące koszty produkcji.
Dynamika rynku Bitcoina jest jeszcze bardziej zmienna. Jego wartość zależy od nastrojów rynkowych, zmian regulacyjnych i postępu technologicznego.
Chang wyjaśnił, że ceny energii są najbardziej krytyczną zmienną kosztową dla górników Bitcoina. Efektywne zarządzanie energią może zadecydować o sukcesie lub porażce operacji wydobywczej. Chang w rozmowie z BeInCrypto powiedział:
“Najlepszą miarą tego jest współczynnik wydajności Bitcoina, który mierzy ilość BTC generowanych na wdrożony exahash. Dobrym sposobem myślenia o tym jest to, że Bitcoin jest dla ropy naftowej, tak jak hashrate dla wież wiertniczych. Im więcej eksahashy lub wież wiertniczych ma firma, tym więcej Bitcoinów lub ropy powinna wygenerować.”
Co więcej, konkurencja sprzętowa na poziomie górników ASIC jest mile widziana i dobra dla branży. Historycznie rzecz biorąc, kilku dominujących graczy kontrolowało rynek maszyn górniczych. Obniżało to rentowność poprzez przeszacowanie sprzętu w oparciu o ceny Bitcoina w czasie rzeczywistym. Utrudniło to górnikom konkurowanie, ponieważ większość z nich jest zmuszona do dokonywania dużych płatności z góry w celu zakupu maszyn.
Ponadto centralizacja mocy wydobywczej jest potencjalnym problemem dla sieci Bitcoin. Chociaż obecnie nie stanowi to problemu, czujność jest konieczna, aby uniemożliwić wrogim graczom przejęcie kontroli nad globalnym hashrate. Decentralizacja jest kluczem do zapewnienia bezpiecznego blockchaina. Na tym polu starcie złoto czy Bitcoin wygrywa najstarsza kryptowaluta.
Złoto czy Bitcoin: Znaczenie regulacji
Regulacje odgrywają również kluczową rolę w przyszłości górnictwa. Słabe otoczenie polityczne może całkowicie zabić działalność wydobywczą. Chang zwrócił uwagę, że większość przepisów wpływających na wydobycie BTC dotyczy ich zużycia energii.
Jeśli górnik jest neutralny pod względem emisji dwutlenku węgla, może uniknąć przepisów dotyczących operacji emitujących dwutlenek węgla.
Patrząc w przyszłość, złoto pozostanie tradycyjną, bezpieczną przystanią. Jednak jego wpływ na środowisko może prowadzić do zaostrzenia przepisów i nacisku na bardziej ekologiczne technologie wydobywcze. Dzięki swojemu potencjałowi wspierania energii odnawialnej i stabilizacji sieci, Bitcoin może utorować drogę do bardziej zrównoważonej przyszłości w wydobyciu aktywów cyfrowych.
$BTC

#Fantom (FTM) has carved its niche in the ever-evolving world of cryptocurrency. But what exactly is #FTM and how does it function within the larger #blockchain ecosystem? This comprehensive post delves into the core aspects of Fantom, exploring its technology, tokenomics, and future prospects.
Understanding Fantom: A Speedy and Secure Smart Contract Platform
At its heart, Fantom is a directed acyclic graph (DAG) smart contract platform designed to address the scalability limitations of traditional blockchains like Ethereum. It boasts a unique consensus mechanism, ensuring fast transaction processing times and low fees, making it an attractive option for developers building decentralized applications (dApps).
Here's what sets Fantom apart:
Lachesis Consensus: This novel consensus mechanism leverages a byzantine fault tolerance (BFT) algorithm, enabling asynchronous block validation. Transactions are confirmed rapidly, leading to faster finality compared to proof-of-work #PoW blockchains.Opera Chain: Fantom operates on its own blockchain, the Opera Chain, which runs parallel to the mainnet, enhancing scalability and reducing congestion.EVM Compatibility: The Ethereum Virtual Machine (EVM) compatibility allows developers to seamlessly migrate existing Ethereum-based dApps to the Fantom network, fostering wider adoption.
FTM: The Engine that Powers the Fantom Ecosystem
FTM, the native token of Fantom, serves several crucial functions within the ecosystem:
Transaction Fees: FTM is used to pay transaction fees on the Fantom network. Lower fees compared to Ethereum incentivize users and developers.Staking: Users can stake FTM tokens to secure the network and earn rewards. This process helps validate transactions and maintain network integrity.Governance: FTM holders have voting rights on proposals that shape the future development of the Fantom network. This fosters a decentralized and community-driven approach.
FTM's Price Performance and Future Outlook
FTM has experienced significant price fluctuations since its launch. It reached an all-time high of $3.46 in October 2021 but has since corrected. However, recent developments suggest a potential resurgence:
Growing DeFi Adoption: The number of DeFi applications built on Fantom is steadily increasing, indicating rising developer confidence and user base.Strategic Partnerships: Collaborations with other blockchain projects and DeFi protocols could expand FTM's reach and utility.Focus on Security: Fantom's commitment to improving security protocols through stricter measures and increased network participation inspires investor trust.
Investing in FTM: A Calculated Decision
While FTM's potential is undeniable, remember that the cryptocurrency market remains volatile. Here are some factors to consider before investing in FTM:
Market Volatility: Cryptocurrencies are inherently subject to price swings. Conduct thorough research and invest what you can afford to lose.Project Development: Stay updated on Fantom's roadmap and development progress. Consistent advancements and a strong development team are positive signs.Regulation: The evolving regulatory landscape surrounding cryptocurrencies can impact FTM's price. Stay informed about potential regulations.
Conclusion: FTM - A Promising Player in the Blockchain Arena
Fantom (FTM) offers a compelling alternative for developers seeking a fast, secure, and scalable platform for building dApps. With its unique technology and focus on growth, FTM has the potential to become a major player in the blockchain space. However, careful consideration of market conditions and ongoing project development is crucial before making any investment decisions.
#HotTrends $FTM

In recent years, concerns about the environmental impact of cryptocurrency mining have become a hot topic. Bitcoin, the most popular cryptocurrency, has been criticized for its high energy consumption and carbon emissions. However, the emergence of blockchain technology is helping to address these concerns by making crypto mining more sustainable and eco-friendly.

To understand how blockchain technology can reduce carbon footprints, it's important to first understand the traditional process of cryptocurrency mining. Cryptocurrencies like Bitcoin are created through a process called mining, where powerful computers solve complex mathematical problems to validate transactions and add them to the blockchain. This process requires an enormous amount of energy, and most of it comes from fossil fuels like coal and natural gas.

However, blockchain technology is helping to make crypto mining more energy-efficient and sustainable. One of the main ways blockchain is doing this is through the development of Proof-of-Stake (PoS) consensus algorithms.

PoS is an alternative to the traditional Proof-of-Work (PoW) consensus algorithm used by Bitcoin and other cryptocurrencies. In PoW, miners compete to solve complex mathematical problems, and the first one to solve it gets to add a block to the blockchain and receive a reward. This process is highly energy-intensive because it requires miners to use powerful computers to perform complex calculations.

In contrast, PoS algorithms select validators based on the number of tokens they hold, rather than their computing power. Validators are responsible for adding new blocks to the blockchain and are incentivized to act in the best interest of the network. Because #PoS does not require the use of energy-intensive hardware, it is significantly more energy-efficient than #PoW

Another way #blockchain is helping to reduce carbon footprints is through the use of renewable energy sources. #cryptocurrency mining operations are often located in areas with cheap electricity, which is typically generated from fossil fuels. However, some mining companies are now looking to renewable energy sources like solar and wind power to reduce their #carbon footprint.

In addition to using renewable energy, some blockchain projects are also using innovative solutions to reduce energy consumption. For example, the Chia Network, a new blockchain platform, uses a process called "farming" instead of mining. Farming uses unused storage space on a computer's hard drive to generate new coins, rather than using energy-intensive hardware.

Overall, blockchain technology is helping to make cryptocurrency mining more sustainable and eco-friendly. Through the development of PoS algorithms, the use of renewable energy sources, and innovative solutions like farming, blockchain is reducing the carbon footprint of crypto mining. As the adoption of blockchain technology continues to grow, we can expect to see even more advancements in sustainable crypto mining in the years to come.

New blockchain initiatives and platforms emerge quickly. #Shibirium has drawn notice. Shibirium's July 2023 #blockchain launch will change how we use DApps and smart contracts. In this post, we'll discuss the Shibirium blockchain launch's benefits and how it may change blockchain #technology .

Shibirium overview

What's Shibirium?

Shibirium is a next-generation blockchain technology that addresses scalability and #security issues. Shibirium provides a strong and efficient infrastructure for #decentralized apps and smart contracts using a hybrid consensus process combining #PoW and #PoS .

Shibirium Benefits

Shibirium has various benefits over other blockchain platforms:

Scalability: Innovative sharding approaches boost transaction performance and decrease network congestion in Shibirium.

Shibirium mitigates 51% attacks and other weaknesses by combining PoW and PoS.

Interoperability: Shibirium allows smooth connection and data transmission between blockchains.

Shibirium's consensus methods reduce blockchain activities' environmental effect.

Key Shibirium Blockchain Features

2.1 Sharding

Shibirium uses innovative sharding technology to split the #network into smaller, transaction-processing shards. This method boosts scalability without compromising security by handling more transactions simultaneously.

Hybrid Consensus

Shibirium uses PoW and PoS to reach consensus. PoW requires miners to solve challenging mathematical riddles to secure the network, while PoS lets Shibirium #token holders vote and earn rewards.

Smart Contract Capabilities

#Developers may build decentralized apps on Shibirium using smart contracts. Shibirium's scalability and security make smart contracts a dependable and efficient foundation for decentralized applications.

Cross-chain compatibility

Shibirium seeks cross-chain interoperability to enable blockchain network connectivity. Interoperability allows the transfer of assets and data between platforms, boosting cooperation and increasing the possibilities of decentralized finance (#DeFi) and other blockchain-based applications.

Shibirium Blockchain Launch Impact

Shibirium's July 2023 debut is likely to change the blockchain ecosystem. Possible effects:

DApp Scalability Improved

Shibirium's sharding technique scales decentralized apps. This scalability allows developers to construct and deploy high-performance DApps that can handle huge #transactions.

Increased Blockchain Adoption

Shibirium's scalability and security may draw more consumers and developers to blockchain technology. The platform's user-friendly interface and developer tools let people and organizations integrate blockchain in their apps and processes.

Interoperability progress

Shibirium's cross-chain interoperability might connect blockchain networks for data and communication. Interoperability can enable project cooperation, decentralized financing, cross-border payments, and supply chain management.

A team of researchers from Australia and the United States have proposed a new proof-of-work (PoW) consensus mechanism for blockchains that is based on quantum computing techniques. The system, known as "quantum sampling proof-of-work consensus," is still theoretical, as the hardware necessary to run it does not yet exist. However, the researchers believe that their system could offer significant speedups and power savings compared to traditional PoW algorithms.

the researchers describe how their system works. In a traditional PoW system, miners compete to solve complex math problems in order to add new blocks to the blockchain. This process is computationally expensive and requires a significant amount of energy.

Rather, the researchers' system uses quantum computing techniques to solve the PoW problem more efficiently. Specifically, they use a technique called boson sampling, which allows quantum computers to sample a probability distribution without having to explicitly calculate the distribution itself. This can be used to solve the PoW problem much faster than a classic computer.

The researchers believe that their system could offer significant benefits for blockchains. First, it could make blockchains more scalable by allowing more transactions to be processed per second. Second, it could make blockchains more energy efficient as it would require less power to solve the PoW problem.

However, the researchers also acknowledge that there are some challenges that need to be addressed before their system can be implemented. First, quantum computers that are powerful enough to solve the PoW problem don't exist yet. Second, the researchers' system is still theoretical and it is not yet clear how it would be implemented in practice.

Despite these challenges, the researchers believe their system has the potential to revolutionize blockchain technology. If his system can be implemented, it could make blockchains faster, more scalable, and more energy efficient. This could make blockchain more attractive to businesses and consumers, and could help speed adoption of blockchain technology.

#bitcoin #BTC #PoW #PoS #quantumcomputing

The sentiment of ETH surpassing #Bitcoins marketcap has been around for a while now, but not untill this time has it been more possible. The number of staked #ETH is sky rocketing as the cryptocurrency moved away from #PoW to #PoS . Rewards that were claimed after the 2 year staking period have been mostly compounded and re-staked. Institutional investors have made ETH acquisitions ranging in the millions.

Join me each morning for a live update on all #crypto. Each weekday morning at 6am Seoul South Korea time.

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The introduction of blockchain technology has led to the creation of new digital currencies and the evolution of the way we think about financial transactions. One of the key features of blockchain technology is the consensus mechanism, which is used to validate transactions and maintain the integrity of the blockchain. The two most common consensus mechanisms used in blockchain technology are Proof of Work (PoW) and Proof of Stake (PoS). In this article, we will explore the differences between these two consensus mechanisms and their implications for the future of blockchain technology.

Proof of Work (PoW) is the consensus mechanism used in the Bitcoin blockchain, which is the first and most well-known blockchain network. In a PoW system, miners compete to solve complex mathematical equations in order to validate transactions and add them to the blockchain. The first miner to solve the equation and validate the transaction is rewarded with a predetermined amount of cryptocurrency.

While PoW is effective at ensuring the integrity of the blockchain, it is also energy-intensive and requires a significant amount of computational power. As a result, the environmental impact of PoW has come under scrutiny in recent years, with concerns about the carbon footprint of the Bitcoin network.

Proof of Stake (PoS) is a newer consensus mechanism that seeks to address some of the shortcomings of PoW. In a PoS system, validators are chosen to validate transactions based on the amount of cryptocurrency they hold. Validators are incentivized to act in the best interests of the network, as any malicious behavior would result in the loss of their stake in the network.

PoS is less energy-intensive than PoW, as it does not require the same level of computational power. Additionally, PoS networks are less susceptible to 51% attacks, which occur when a single entity controls a majority of the computational power in a PoW network.

While PoS offers several advantages over PoW, it is not without its limitations. One of the main criticisms of PoS is that it can lead to centralization, as the validators with the most cryptocurrency have the most power to influence the network. Additionally, PoS networks are more complex to implement than PoW networks, which can make them more difficult to scale.

The debate between PoW and PoS is ongoing, with proponents on both sides arguing for the superiority of their chosen consensus mechanism. However, it's clear that both PoW and PoS have their advantages and disadvantages, and the choice between the two will ultimately depend on the specific use case and goals of the blockchain network.

The two primary consensus mechanisms used in blockchain technology are Proof of Work (PoW) and Proof of Stake (PoS). PoW is the original consensus mechanism used in the Bitcoin blockchain, where miners compete to solve complex mathematical equations to validate transactions and earn cryptocurrency rewards. In contrast, PoS validates transactions based on the amount of cryptocurrency validators hold and risks losing their stake if they behave maliciously. PoS is less energy-intensive than PoW and is more secure against 51% attacks. However, it can lead to centralization and is more challenging to implement than PoW. Ultimately, the choice between the two consensus mechanisms depends on the specific needs and goals of the blockchain network.

In conclusion, PoW and PoS are the two most common consensus mechanisms used in blockchain technology. While PoW is the older and more well-known of the two, PoS offers several advantages over PoW, including lower energy consumption and increased security. However, PoS is not without its limitations, and the choice between the two will ultimately depend on the specific needs and goals of the blockchain network.

#PoW #PoS #stake #crypto2023 #bitcoin