Proof of Work

Senator Warren Calls Out Bitcoin’s Energy Consumption — Bitcoiners Bite Back

<div class=”featured_image_container”> </div> <strong>U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are the “wild west” of investments and called for a regulatory crackdown on the industry. …

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Greenpeace Has Stopped Accepting Bitcoin Donations Due to Network’s Environmental Impact

<div class=”featured_image_container”> </div> <strong>Greenpeace, the ecological NGO, has stopped accepting bitcoin donations due to the big impact the cryptocurrency network has on the environment. The organization, which was one of the first NGOs to add bitcoin to its donations arsenal, has now backpedaled due to the growing energy consumption of the underlying network powering the …

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Low Energy Proof-of-Work: Bitcoin Improvement Proposal Wants to Change Network’s Algorithm

<div class=”featured_image_container”> </div> <strong>The most topical conversation in the world of cryptocurrencies right now is the effects of bitcoin mining on the global environment after Elon Musk heated up the conversation. Following the recent Tesla announcement, the cofounder of Siphox and Powx, Michael Dubrovsky, revealed the nonprofit Powx has recently submitted a Bitcoin Improvement Proposal …

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Chia network not so green? CPU mining reportedly destroys SSD in weeks

Chia Network (CHIA), which emerged onto the cryptocurrency scene with the promise of cleaning up the environmental mess left by Bitcoin (BTC) miners, may not be as green as it seems. Unlike Bitcoin, Ether (ETH) and others, Chia Network mines coins using an alternative to the energy-intensive Proof-of-Work (PoW). Chia coins are produced using only …

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The Future of Ethereum in a Meme: Ultrasound Money

<div class=”featured_image_container”> </div> <strong>The “ultrasound money” meme has been running in Ethereum based circles for some time, gaining momentum as the asset rises and rises in value during this bull market. While it is considered a joke by many, like a myriad of memes, it hides a very complex array of factors that contribute to …

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Ethereum co-founder Vitalik Buterin becomes billionaire as Ether hits $3K

Vitalik Buterin, a co-founder of the world’s most popular smart contract platform, the Ethereum blockchain, has officially become a crypto billionaire. Buterin’s public Ether address that he described as his main wallet back in 2018, has hit $1 billion on its balance following Ether’s meteoric rise above a $3,000 price mark on Monday. At the …

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Experts debate Bitcoin climate footprint in latest Cointelegraph Crypto Duel

In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it.  As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network.  The analyst predicts its …

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Ripple’s Chris Larsen Believes Bitcoin Dominance Could Fall Over Proof-of-Work’s Energy Consumption

<div class=”featured_image_container”> </div> <strong>Ripple Labs cofounder Chris Larsen has a bone to pick with bitcoin and crypto networks that leverage proof-of-work (PoW). Larsen’s latest write-up explains that the crypto industry needs to reconsider PoW because of the effects on the environment. The Ripple executive believes that other types of consensus algorithms have been effective at …

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Bittorrent Creator Bram Cohen’s Crypto Project Chia Sparks Hard Drive and SSD Shortages

<div class=”featured_image_container”> </div> <strong>On May 3, tokens stemming from the Chia network, a smart transaction blockchain created by the Bittorrent creator Bram Cohen, will start trading and transactions will be fully enabled. Rather than leveraging the proof-of-work consensus algorithm, Chia will utilize a model called proof-of-space which relies on storage. With Chia’s transactional launch pending, …

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BTC Hashpower Swells: Bitcoin Network Touches 185 Exahash, Hashrate Climbs 18,400% Since 2016

<div class=”featured_image_container”> </div> <strong>During the last week, the Bitcoin network’s hashrate has jumped to a record high of 185 exahash per second on March 14, 2021. The hashpower has relentlessly continued to rise, climbing a whopping 18,400% in five years since January 21, 2016.</strong> Bitcoin Price Jumps Over 1,500% in a Year, Hashrate Climbs 18,400% …

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