Crypto

Ethereum’s network upgrade reduces energy consumption by 99%

Published

11 months ago

October 23, 2022

Ahron Young

After years of anticipation, the cryptocurrency ethereum finally implemented a major network upgrade that completely changes how the blockchain verifies transactions.

Called proof-of-stake, this new system has reduced ethereum’s energy consumption by more than 99%.

This is HUGE news for the cryptocurrency industry which has been struggling with high levels of energy usage. Energy usage has been one of the industry’s biggest targets for critique but it’s not likely that bitcoin will follow suit. Instead, the bitcoin network is sticking with a system called proof-of-work, in which highly specialized computers try to guess a winning number that serves to validate transactions and create new coins. This is what’s known as mining.

What is Proof-of-Stake?

Proof-of-stake is an algorithm that rewards users based on how many coins they hold or “stake” in the network. The more coins you stake, the more you stand to gain (or lose) if the network experiences a fork (a split into two different versions). Under proof-of-work, miners are rewarded for expending large amounts of computing power to validate transactions and mint new coins. By switching to proof-of-stake, ethereum hopes to reduce its enormous energy consumption and make itself more accessible to users who don’t have access to expensive mining hardware.

What does this mean for the future of cryptocurrency? Only time will tell but this seems like a really promising start! Stay tuned for more updates.

Ethereum’s Network Upgrade Reduces Energy Consumption by 99% in a move that could potentially save the cryptocurrency industry. This comes as good news as energy usage has been one of the biggest targets for critique when it comes to cryptocurrencies.

Crypto

Why is the world’s largest crypto exchange battling U.S. regulators?

Published

4 months ago

June 15, 2023

ticker NEWS

U.S. regulators have filed charges against Binance, the world’s largest crypt exchange

Is the idea of a financial world that operates outside of the global banking system and eludes the reach of regulations a possibility or a pipe dream?

The Securities and Exchange Commission has filed 13 charges against the Bianace, world’s largest crypt exchange and its billionaire founder, Changpeng Zhao.

The SEC alleges that the crypto exchange worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.

In addition, the SEC is also alleging that Binance and Zhao used market-making companies—that they controlled—to inflate trading prices and profit from of their customers.

Zhao has publicly dismissed the allegations.

Stefan Rust, the former CEO of Bitcoin.com joins us to discuss. #crypto #cryptocurrency #StefanRust #veronicadudo #Binance #ChangpengZhao

Crypto

Is the metaverse the future of social network?

Published

4 months ago

May 30, 2023

ticker NEWS

U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

Crypto

Who will win the global metaverse race?

Published

4 months ago

May 30, 2023

ticker NEWS

China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech