Proof of Work News

Proof-of-work is a consensus algorithm developed to protect decentralized networks from any malicious activities. The initial concept of PoW was first described in 1993. The two steps of a proof-of-work algorithm are to solve difficult and time consuming tasks and to check the results. Despite the fact those tasks can be solved, they required a large amount of computer power. The difficulty of the tasks varies in order to control the frequency of discovery of the new blocks, which can be found approximately one block in 10 minutes because of the need to synchronize all discovered blocks among the users holding the blockchain. Due to the fact that the process is energy consuming and random, it is impossible to say for sure which Bitcoin-miner will solve the task and discover the block.

News
“By removing Eth2 terminology, we save all future users from navigating this confusing mental model,” the Ethereum Foundation stated.
Eth2 is no more after Ethereum Foundation ditches name in rebrand
Brian Quarmby
2022-01-26T02:26:00+00:00
15318
Expert Take
Gaining a deeper understanding of a popular — but, meanwhile, widely misunderstood — concept in blockchain technology: the consensus algorithm.
Inside the blockchain developer’s mind: Proof-of-burn blockchain consensus
Andrew Levine
2021-12-19T17:22:00+00:00
10214
Expert Take
Gaining a deeper understanding of a popular — but widely misunderstood — concept in blockchain technology: the consensus algorithm.
Inside the blockchain developer’s mind: Proof-of-stake blockchain consensus
Andrew Levine
2021-12-12T15:21:00+00:00
7769
News
Billionaire Chris Larsen said that miners should view the move away from PoW as “a net positive for their longevity.”
Ripple chair’s pay-off plan to convince BTC miners to adopt proof-of-stake
Keira Wright
2021-12-10T03:40:59+00:00
19635
Research
One Ethereum transaction uses enough energy to power a house all day, but how much does the fiat financial system use?
Ethereum transaction energy use equals 2.5 miles in a Tesla Model 3: Report
Cointelegraph Research
2021-12-09T16:28:40+00:00
8319
Expert Take
Gaining a deeper understanding of a popular — but meanwhile widely misunderstood — concept in blockchain technology: the consensus algorithm.
Inside the blockchain developer’s mind: Proof-of-work blockchain consensus
Andrew Levine
2021-12-05T16:19:00+00:00
6413
News
“The claim that Bitcoin miners jeopardize the electricity network is completely misinformed,” says EU-based fund manager Melanion Capital.
Swedish call to ban crypto mining ‘completely misinformed,’ says fund manager
Erhan Kahraman
2021-11-22T13:23:14+00:00
5938
Altcoin Watch
The massive upside move comes as a part of a rebound that started Nov. 19 after Electric Coin Company discussed the prospects of moving Zcash to proof-of-stake.
ZEC price jumps 20% in one day as Zcash devs unveil transition to proof-of-stake
Yashu Gola
2021-11-20T14:22:21+00:00
16493

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