Ethereum just made a big change for the better. This is why Bitcoin probably won’t follow suit.
Proof-of-work, unlike proof-of-stake, is basically a high-stakes math lottery. Computers around the world compete to be the first to guess the answer to an exceptionally difficult cryptographic equation. The first to do it gets to add the next block to the blockchain—and is paid in cryptocurrency for their trouble.
While Bitcoin has used proof-of-work to secure its blockchain for 15 years, proof-of-stake has never been tested at the scale it is now. Post-Merge, Catalini says, “The long term viability and security of proof-of-stake is going to be a continuous experiment.” If the Ethereum blockchain remains as secure as it was under proof-of-work, that will be a major win for the community. One drawback is that it is, at least theoretically,There are other issues with proof-of-stake too.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Quick and Easy Collard GreensOur go-to version of the darling dark green leaf of long braises: collard greens.
Read more »
Peter Thiel's Founders Fund leads $3.7 million round into Block GreenBlock Green allows bitcoin miners to use their future Bitcoin production as collateral by borrowing against their hash power.
Read more »
Nick Mangold excited for ‘humbling’ Jets Ring of Honor momentIf Nick Mangold got excited just slipping on a commemorative green jacket, imagine how he will feel seeing his name immortalized every time he goes to a Jets home game.
Read more »
Luke Bryan did some crazy things with Tim Tebow’s Heisman TrophyIt seems Tim Tebow’s Heisman Trophy won’t be collecting dust on a shelf anytime soon — or ever, for that matter.
Read more »
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon – Mining Bitcoin NewsThe central bank and the finance ministry in Moscow have aligned their positions on the regulation of cryptocurrency mining in Russia.
Read more »