Category: Proof of Work

Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate

Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate

There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation […]

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Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In

Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In

The Ethereum network’s 2.0 transition has pushed the protocol to become one of the largest staking networks in the world with 1,683,905 ether locked into the contract worth $1 billion today. According to reports from China, while proof-of-work ethereum miners have two years left to mine the leading crypto asset, ten Chinese mining rig manufacturers […]

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21M Bitcoin and the Promise of Scarcity

21M Bitcoin and the Promise of Scarcity

In Bitcoin, the promise of a limited supply is great. This was one of the biggest things that initially appealed to me when I heard about Bitcoin. “No more than twenty one million bitcoins will ever exist!” But can this promise be kept in the long run? Has the Promise Already Been Broken? Some would […]

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Hash War: Mystery Miner’s Empty Block Attack Makes ABC’s New Blockchain Almost Unusable

Hash War: Mystery Miner’s Empty Block Attack Makes ABC’s New Blockchain Almost Unusable

According to various reports, the Bitcoin ABC pro-IFP chain has been under ‘attack’ for a number of consecutive days now. The mystery miner has been mining a great number of sequential blocks, but almost all of them have been empty. The miner who calls himself ‘Voluntarism.dev’ says the mining operation is a group of “old-guard […]

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US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space

US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space

A bipartisan quartet of US congressmen wants the IRS taxation policy not to dissuade taxpayers from participating in blockchain token staking.These politicians believe America’s ingenuity can help drive this promising staking technology.The four congressmen are Bill Foster (D) of Illinois, Darren Soto (D) of Florida, Tom Emmer (R) of Minnesota, and David Schweikert (R) of […]

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Triple-Entry Bookkeeping: How Satoshi Nakamoto Solved the Byzantine Generals’ Problem

Triple-Entry Bookkeeping: How Satoshi Nakamoto Solved the Byzantine Generals’ Problem

In 2008, Satoshi Nakamoto essentially solved the infamous computational issue called the “Byzantine generals’ problem” or the “Byzantine Fault.”Throughout the history of man, people used ledgers to record economic transactions and property ownership. A ledger is often referred to as the “principal book,” and entries can be recorded in stone, parchment, wood, metal, and with […]

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Single Miner Reorgs Ethereum Classic – Devs Report a Chain Split

Single Miner Reorgs Ethereum Classic – Devs Report a Chain Split

Members of the Ethereum Traditional group reported that the network suffered a reorganization (reorg) as of late.The blockchain network is asking service suppliers to cease deposits while it carries out upkeep of the chain.Basically the newest occasion follows a identical attack in January 2019, which led to a pair exchanges taking pre-emptive action.Every Ethereum Traditional […]

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