#Proof of work

The Dogecoin (Doge) Critical Criticulation (DOGE) reached the second place in capitalization among blockchains on the consensus algorithm Proof-off -work (POW) after Ethereum migration on Proof-OF-Stake (POS).

How does Bitcoin mining work?

How does Bitcoin mining work? Why is the reward for it gradually decreasing? How much mining is harmful to the environment? We understand the cards.

What is the Proof -off algorithm (POW)?

How the consensus algorithm Proof-OF-WORK works? Why is it so important for blockchain? What problems did POW solve? We answer in the cards.

US congressmen called for testing Proof-off-Mayk for the damage of ecology

A group of US congressmen appealed to the Environmental Protection Agency with a request to check the mining industry for environmental risks and compliance with relevant laws.

Norway, following Sweden, will consider the ban on bitcoin mining

Norway can support the initiative of Sweden regulators on the ban on cryptocurrency mining, including bitcoin, at the EU level. The government referred to “unjustified electricity costs”.

The founder of Zcash proposed to transfer the project to the Proof-OF-Stake algorithm

Zcash cryptocurrency must abandon the Proof-OF-Work consensus algorithm in favor of a more energy-efficient and environmentally friendly Proof-OF-Stake. The founder of the project Zuko Wilkox made such a proposal.

Vitalik Buterin called the human factor the main barrier on the way to Proof-Of-Stake

Ethereum co -founder Vitalik Buterin said that the contradictions between the team members had more than technological problems on the implementation of both the first and second version of the protocol. He said this at the Virtual Fintech Forum conference, writes Forkast.

Canada Bank called its own CBDC more “green” than bitcoin

The national digital currency (CBDC) developed by the Bank of Canada will not rely on “wasteful mining methods” inherent in cryptocurrencies. This was stated by Deputy Manager Timothy Lane, writes Penticton Western News.

The developer predicted a drop in energy consumption by 99.95% after Ethereum failure from Pow

Ethereum blockchain maintenance costs can be reduced 2000 times after the transition from Proof-hour to Proof-OF-Stake. This assessment was cited by the developer ETH2 Karl Bikheizen.

POS coins strengthened the positions after Tesla refusal to take bitcoin

Working on the consensus algorithm Proof-OF-Stake (POS) Coins showed better dynamics than the market as a whole. The impetus for this could be Tesla’s decision to suspend sales of electric vehicles for bitcoin due to the non-emoticity of its mining.

Charles Hoskinson called to abandon Proof-OF-Work and predicted the collapse of Dogecoin

CEO for Cardano Iohk Charles Hoskinson doubted the prospects of Proof-OF-WORK, noting a sharp drop in the Heshrait of the Bitcoin network in April.

Space missiles and algorithms, or what holds decentralization in the infancy

Especially for Forklog co -author of the book “Web 3.0. Present of yesterday tomorrow ”Vladimir Popov spoke about the fundamental problems of algorithms (d/l) POS, flaws in their architectural implementation and decentralized social networks of the future. In this material I will analyze specific examples, tell about the vectors of attacks and make a number of generalizing conclusions. Someone will seem fantastic. What is in common for missiles and algorithms? At […]

Future for Proof-Of-Stake: Inevitable Reality or Myth

How safe the Proof-OF-Stake systems are safe, how fast they are and what is wrong with (de) centralized social networks. The founder of Synergis and co -author of the book “Web 3.0. Present yesterday tomorrow »Vladimir Popov.

Miner’s counterattack – MIT researchers told how 51% attacks were reflected in the Bitcoin Gold network

The cryptocurrency Bitcoin Gold (BTG) appeared as a result of the bitcoin hardfort in October 2017 and with a capitalization of about $ 110 million is included in the TOP-40 of the largest digital assets. In its relatively short history, BTG managed, however, to survive a lot of dramatic moments, including several attacks 51%.

Monero path in 2019: the fight against ASIC, the defending of privacy and the attack of the “Big Bang”

Monero – oriented on increased privacy of cryptocurrency, launched in 2014. Unlike some other digital currencies, Monero is not a bitcoin fork and is based on the original White Paper and its own code base.

The launch of a high-performance Kadena Pow Blockchain took place

Brooklyn blockchain startup Kadena launched the main network of Pow blockchain for the declared purpose of 10,000 TPS under low commissions.

Ethereum developers plan to reduce cryptocurrency emission by 10 times in 2021

The emission of the second Ethereum cryptocurrency in two years can be reduced by 10 times, Trustnodes reports.

Bitcoin mining consumes more electricity than Switzerland

The network of the first cryptocurrency consumes more electricity than such small countries as Switzerland or Kuwait. This is evidenced by the data of the online tool from researchers of the University of Cambridge.

Amazon has patented a cryptographic system based on the Proof-OF-WORK algorithm

Amazon’s technological giant was interested in the study of cryptocurrency technologies. This is evidenced by the patent received by the company, among other things, mentions the Proof-OF-WORK consensus algorithm and the Devion of the Tree of the Merclay, Coindesk reports.

The BlockStack team introduced a new consensus algorithm based on bitcoin

The New York blockchain startup BlockStack announced the current work on a new distributed protocol called Stacks, which is used by the hash capacity of the bitcoin network in combination with the Proof-OF-BURN mechanism (burning proof-POB).

Powx intends to make bitcoin mining more affordable

The non -profit organization Powx is trying to change bitcoin so that cryptocurrency can be obtained even without special equipment, reports Coindesk.

Genesis Archives: Hashcash or how Adam Back created a bitcoin engine

Bitcoin was the first successful implementation of the idea of ​​digital money, but was far from the first attempt to solve this problem. With the advent of the public Internet and as the digital technology is rapidly developing, many tried to change the existing monetary standard and the conservative idea of ​​money through the introduction of advanced developments.

ZCASH Foundation will develop a way to counteract Asic Maining

In connection with the release of Bitmain Antminer Z9 Mini device for the extraction of cryptocurrencies at the Equihash algorithm in Zcash Foundation will begin to develop the corresponding ZIP to make the necessary changes to the main protocol. At the moment, the confrontation between the ASICs is the “technological priority” of the developers.

Brian Belendorf: I hope that Proof-OF-Work will die quickly and painlessly

Speaking at the Business of Blockchain conference from the Massachusetts Institute of Technology (MIT), Executive Director of the Hyperledger blockchain concern Brian Beendorf spoke about his attitude to open source technologies, regulation of the cryptocurrency industry and the Cryptocurrency Industry and the Proof-OF-Engork consensus algorithm. Reporting from the scene was led by Coindesk.

Cobra: Patent wars in the mining industry is another significant reason to refuse the POW

Bitcoin co -founder.Org and Bitcointalk.Org Cobra continues to promote the idea of ​​the need to abandon the Proof-OF-WORK consensus algorithm on the Bitcoin consensus algorithm. He believes that if leaders in the market for mining equipment will be able to patent a technology that allows accelerating the production of bitcoin, this will lead to further centralization of the industry and monopoly.

RSK: smart contracts and masternodes will significantly increase the value of bitcoin

The bitcoin community is growing rapidly, and the scaling problem is becoming more and more urgent. Despite the active implementation of the Segregated Witness protocol, the network performance is still very limited and during periods of increased activity of all participants thousands of unconfirmed transactions hover in the mempule for an indefinite period. In this regard, an active discussion about the best solution to the existing problem continues. Some support Lightning technology […]

COBRA: We must refuse Proof-OF-Work on the Bitcoin network due to Bitmain hegemony

Bitcoin co -founder.Org and Bitcointalk.Org Cobra is convinced that the concentration of an increasing hashReit of the Bitcoin network in the hands of the world’s largest manufacturer of the Bitmain mining equipment threatens the decentralization of the first cryptocurrency. The only way out, in his opinion, is the transition of a network to a hybrid consensus algorithm Proof-OF-WORK, most likely with some properties of Proof-Of-Stake.

The bitcoin network consumes more electricity than the largest power plants

For one bitcoin transaction, electricity is consumed equal to the monthly consumption of one house in the Netherlands. At the same time, the maintenance of the Bitcoin blockchain requires 2200 MW, which exceeds the consumption of the largest Dutch power plant EemShaventrale. This is stated in a study by ING Bank.

Desecrated consensus: in anticipation of the second coming

Many anthropologists believe that the consensus was a universal decision -making system in early primitive societies, where people fought for survival and were very prone to equal cooperation.

Vitalik Buterin about decentralization and advantages of Proof-OF-STAKE

Ethereum founder Vitalik Buterin published an extensive entry in which he shared his vision on decentralization and, directing the narrative towards the advantage of Proof-OF-STAKE, released several critical arrows towards the ecosystem of bitcoin.

Cornell University proposed a radical redesign of bitcoin architecture

Disputes about the maximum size of the block are essentially a compromise between efficiency and safety. Larger blocks allow more transactions over the network, but they are able to reduce the use of mining capacities and ultimately centralize the entire ecosystem. Having imbued with hot debates, some developers have already invented options for how to find the right balance in this dilemma and achieve […]

Comparison Proof-OF-Work and Proof-OF-STAKE

Anyone who is closely familiar with bitcoin certainly understands that this is a revolutionary achievement created by the legendary, who looked far into the future personality or group Gagarin News of persons. At first glance, this is a revolutionary technology that allows you to send money without the participation of any central authority. You do not need someone who will emit your money, they just exist-something like gold.

Comparative review Proof of Stake and Proof of Work (Whitepaper)

FORKLOG publishes Whitepaper “Proof of Stake Vs Proof of Work”, comparing the work of such principles of system protection as Proof of Stake and Proof of Work. The document was developed by Bitfury Group. Translation and adaptation are made with the assistance of the #TakemyBitcoin project. Annotation confirmation of the share (English. Proof of Stake) – coordination mechanism for electronic currencies, an alternative mechanism for evidence of work (English. Proof […]

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