Search results: proof of work

Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.

IOHK and Cardano’s founder also explains why new US Treasury Secretary Janet Yellen is the ‘single biggest development’ for the crypto industry’s future.

Forkast.News explains ‘proof of work’ — the DNA of Bitcoin — and and why most of the world’s cryptocurrency miners will soon be sweating a lot more for their coins.

Mazars, the financial auditing firm behind Binance’s proof-of-reserves (PoR) audit, has suspended all work for crypto firms.

Three Ethereum chains that support mining — Ethereum Classic, ETHPoW and Ethereum Fair — together accounted for about 30% of the peak hashrate of Ethereum before “the Merge.”

Ahead of Ethereum’s upcoming “Merge,” prominent Chinese crypto miner Chandler Guo has indicated he wishes to fork Ethereum to maintain a version of the network that remains proof of work (PoW), according to a report by Decrypt. See related article: Ethereum will soon turn 7 — and its upcoming ‘Merge’ will be well worth the […]

The European parliament has scrapped wording from proposed legislation that would have banned cryptocurrencies that rely on the proof-of-work (PoW) consensus mechanism, like Bitcoin. See related article: How serious is the threat of Bitcoin mining to the environment? Fast facts The European Parliament member in charge of spearheading the bill known as the Markets in […]

Confusion surrounded the Solana blockchain community over the weekend as a sudden drop in transaction speeds was initially believed to be a distributed denial of service (DDoS) attack, resulting in a lengthy debate as to the cause of the delay. Fast facts Solana-based non-fungible token (NFT) platform Blockasset was one of the first to highlight […]

Casper Network goes big on its ‘first of many’ expansion ambitions in Asia by receiving the nod to join both BSN China and BSN International.

Ethereum Classic Labs CEO Terry Culver calls the hash rental market shady “like under a rock somewhere…. They’re basically money laundering operations.”

OKX’s X Layer promises faster, cheaper Ethereum transactions with enhanced security.

Japan’s Astar Network launches Astar zxEVM, the first layer-2 chain to integrate with Polygon’s AggLayer, enabling seamless cross-chain transactions.

P0x Labs, the developer behind layer-1 zero-knowledge blockchain Manta Network, has secured US$25 million for the Network’s expansion in Asia.

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

Now that the Bitcoin Ordinals genie is out of the bottle, a debate is raging about whether they’re good for the original blockchain and their long-term consequences.

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

Securing keys is an issue that has bedeviled the crypto world, as the $600M Ronin and $300M Wormhole heists have painfully shown. Is there a better way?

The Universal Digital Payments Network (UDPN), which aims to offer interoperability between regulated stablecoins and CBDCs, was launched today at the World Economic Forum in Davos.

Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.

The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.

Calls for tougher rules on cryptocurrency have been echoing ever louder through the offices of global financial regulators since the collapse of the FTX exchange. But the firm did not invent dodgy business practices, so what can regulators and the industry do?

Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

Vitalik Buterin will release a book on proof-of-stake consensus on Sept. 27, compiling various writings by the Ethereum founder over the last 10 years, according to his recent Twitter post. See related article: Vitalik Buterin says he used Tornado Cash to donate to Ukraine Fast facts The book, titled “Proof of Stake, The Making of […]

Two of the largest stablecoin issuers — Tether and USDC — announced Tuesday that they will support Ethereum’s proof-of-stake (PoS) chain, as Ethereum’s “Merge” looms and crypto miners are banding together against the abandonment of mining.  See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge Fast facts See related article: Ethereum […]

Polygon, the Ethereum layer 2 scaling network, Wednesday said it is launching the testnet of its highly-anticipated zero-knowledge (ZK) rollup dubbed Polygon zkEVM, in what it called “a giant leap forward for Ethereum scaling and ZK innovation.” See related article: What is Polygon (MATIC) — ‘Ethereum’s internet of blockchains’? Fast facts In a series of […]

Solana suffered another outage on Sunday Asia time, after the network lost consensus due to bots flooding the non-fungible token (NFT) minting tool “Candy Machine,” spamming more than six million transactions per second.  See related article: Solana DeFi avoids meltdown as Wormhole loss replaced Fast facts The network was down for about seven hours before […]

Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.

Ethereum’s merge on the Kiln testnet on Wednesday was a success, as the blockchain passed the final public test before its highly anticipated transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), which is expected to happen by the end of Q2, 2022. See related article: The best of Ethereum 2.0 is yet to […]

As the pushback over environmental concerns of the blockchain industry continues, a recent report by Solana says that a single transaction on the network uses less energy than just two Google searches. Fast facts Completed under the guidance of an independent energy and climate advisor, Solana’s November Energy Report found that a single Solana transaction […]

Despite suffering a network outage due to a denial-of-service attack that took the Solana network offline for 17 hours on Sept. 14, Solana funds continued to see inflows of US$4.8 million last week, according to digital asset manager CoinShares. Fast facts “This suggests investors were happy to shrug-off the attack, seeing it as teething problems […]

ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.

SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?

A network patch designed to fix a bug on the Geth network has led to the world’s second-largest blockchain splitting in two.

India crypto bill awaits approval while Poly Network hack saga continues

Hermez Network, a prominent zero-knowledge cryptography-based scaling project, will merge with India-based Polygon, an Ethereum scaling project, Polygon announced on Friday. Fast facts Polygon has initiated the process of merging Hermez, including its technology, team, live solutions and HEZ tokens into its ecosystem. Hermez will operate under the name Polygon Hermez as a part of […]

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.

Decentralized finance hub Acala Network’s sister network, Karura, has won the first parachain lease auction on Kusama, Polkadot’s pre-production network, and is now successfully producing blocks, according to an announcement today. Fast facts: The successful completion of Kusama’s first parachain slot auction and Karura’s launch brings Polkdot ever closer to its rollout. Karura raised more […]

One of DeFi’s hottest trends, yield farming can bring riches but is not for crypto beginners or those who can’t afford to lose. Forkast.News explains why.

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.

Founded by BitTorrent creator Bram Cohen, Chia Network’s new ‘proof of space and time’ blockchain aims to be a more sustainable alternative to bitcoin.

Other top news: $50 billion in cryptocurrency leaves China. Severe flooding in Sichuan destroys bitcoin mining farms. DeFi in India.

Here are our favorite and best-in-class apps for the decentralized work place. Plus, the Web3 dApps that could disrupt them.

Innovations in privacy-enhancing technology can address the challenges confronting enterprises from a regulatory, security and competitive perspective, writes Jonathan Rouach, CEO and cofounder of QEDIT.

Blockchain applications have been a highly debatable topic since the rise of Bitcoin and later Ethereum. Opinions vary from “blockchain will solve most of humanity’s problems” to “this technology works only for money” and even “it is useless”. I’ve been working in the industry since 2017 and have seen and analyzed many blockchain use cases. […]

Introduction The blockchain revolution is happening so fast, that it too is being revolutionized. Until now, the de facto mechanism to reach consensus on distributed ledgers has been Proof of Work (PoW), in which computers compete to solve fictitious mathematical problems. However, this system wastes a lot of energy and computer power. But now a […]

Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?

Litecoin prices have lost over 6% since it completed its third halving event on Wednesday evening in Asia.

Ownership is only one feature of Web3. The more important and defining characteristic is ‘verifiability,’ writes Jonathan Victor of Protocol Labs.

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

Europe’s new MiCA framework for regulating crypto shows the good that can happen when government works with and not against the industry, writes Nick Saponaro of Divi Labs.

This isn’t the first time the bloc has examined cracking down on Bitcoin mining, and it comes amid a growing push from regulators to examine the industry’s carbon footprint.

Vitalik Buterin identified Ethereum’s next big challenges as scalability and layer 2 implementations at the Converge22 conference.

Top blockchain and crypto news: Binance bets on Ethereum Merge. What does Terra’s sudden resurgence mean? China seeks to expand e-CNY ecosystem.

The Merge, one of this year’s biggest crypto events, is now due to happen next month. Why is it so hotly anticipated — and feared?

Ethereum Classic’s (ETC) price has rallied since Ethereum developers announced the scheduled date for “The Merge,” which will see the blockchain transition from proof of work (PoW) to proof of stake (PoS), while Messari’s Tom Dunleavy says it won’t see sustained growth. See related article: Prominent Chinese ETH miner plans proof-of-work fork amid The Merge […]

Ethereum co-founder Vitalik Buterin said on Thursday that Ethereum will be about 55% complete after the “merge,” when the network moves from proof-of-work (PoW) to a proof-of-stake (PoS) consensus system.  See related article: Eth2 merger closer as ninth shadow fork goes live Fast facts “Proof of stake is much more secure than proof of work, […]

The ‘Merge’ will have a major impact on the Ethereum ecosystem and beyond, and getting it right is more important than speed, writes Kevin Loo of IDEG.

Can blockchain embody the values of Earth Day? Consider its growing role in ESG and the energy-efficiency of newer crypto, writes Eddie Hui of MVGX.

A shadow fork of the Ethereum mainnet went live on Tuesday, bringing it a step closer to the transition from proof of work (PoW) to a proof-of-stake (PoS) consensus mechanism for the Ethereum 2.0 upgrade. See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The Ethereum Foundation is currently working on a […]

How has layer-2 innovation saved Bitcoin from becoming a victim of its own success? Blockstream chief Adam Back explains.

Bitcoin’s current price is not indicative of the crypto’s future prospects, says Mark Yusko, who looks forward to the tokenization of everything.

Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.

OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.

Crypto is ‘a behavioral economics experiment,’ says Real Vision co-founder Raoul Pal. ‘Your incentive system is not a like button on Facebook, it’s money.’

Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.

How the crypto economy is engaging with legislators, what policy makers need to know about Web 3.0 and what role the U.S. infrastructure bill has played in kickstarting better cryptocurrency education.

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?

Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.

What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.

As ESG drives more corporate agendas, Sonic Capital’s Sphere aims to provide access to blockchain investment opportunities toward a greener future.