Proof of Work (PoW)

EthereumPoW Shifts Gears: Core Team Disbands for Complete Autonomy

The EthereumPoW (ETHW) announced its decision to dissolve the organization after in-depth discussions and based on a consensus among the majority, thereby fulfilling the commitments made during the initial fork. According to the official blog post, the entity said the decision aligns with its plans to transition to complete decentralization. EthereumPoW Embraces Autonomy The “unanimous”...
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Ripple’s Partial Win in XRP Case Sparks Alt Rally as PoS Coins Post Impressive Gains

XRP appears to be leading the altcoin rally fetching over 66% in the past day alone. This comes after Ripple Labs managed to score a victory in the SEC case crippling the financial regulator’s plan to regulate the digital asset industry. The market has reacted positively to the District Court for the Southern District of...
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Proof of Work Coins Mark Mad Gains on 7D Chart in Hash Cash Frenzy

Proof of work (POW) cryptocurrencies absolutely dominated gains last week. The SEC’s actions and plunging energy prices might be why. Plus, there’s Litecoin’s halving event happening next month. But there’s no denying the market’s recent moves. In fact, proof of work’s dominance during the last week in June was so absolute that four out of...
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EthereumPoW Ecosystem Continues to Grow as Support for Mining Remains

The minable version of Ethereum has garnered a lot of attention since it spawned as a hard fork this time last month. In a move remnant to the 2017 genesis of Bitcoin Cash (BCH) from its big brother, EthereumPoW may have started another fork war between proponents of each respected network. The fork was spawned...
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Bitcoin is Fueling the Climate Crisis: Greenpeace USA 

Greenpeace USA – an environmental advocacy group – is calling out Bitcoin for having what it calls an “outdated and efficient” code system.  In a tweet on Thursday, the organization doubled down on claims that Bitcoin’s proof of work mechanism is contributing to the climate crisis. Instead, it suggested that the code be swapped out...
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Prominent Ethereum Mining Pools Extends Support to ETHW Mining

Ethereum finally transitioned its underlying consensus model to proof-of-stake (PoS) on September 15th at block 15537393. The historical event, however, failed to shed off the appeal of the new proof-of-work (PoW) version of Ethereum. ETHPoW (ETHW), a hard fork of Ethereum supported by a group of PoW proponents, has unveiled a list of all the...
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White House Report Recommends Banning Bitcoin Mining to Slash GHG Emissions

The White House Office of Science and Technology Policy (OSTP) has released a report examining the connection between distributed ledger technologies (DLT) and climate change.  The office determined that crypto’s relationship with the environment is a mixed bag. While acknowledging the positive impact that mining can have on grid stability and renewable development, it can...
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Bitcoin Needs to Adopt an Upgrade Similar to Caradano’s to Survive: Charles Hoskinson

With energy sources getting expensive rapidly, the environmental impact of validating PoW crypto-assets is being studied intensely. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper, published on the order of...
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Ethereum PoW Proponents Vow to Abolish EIP-1559

Proponents of the Ethereum fork are gearing up to eliminate the pivotal EIP-1559. An Ethereum miner, which gained allies from many prominent figures and firms in the industry, has now published an open letter to the community. The Twitter account of the proposed chain-split fork – EthereumPoW –  said that the once “almighty” Ethereum Foundation...
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Early BTC Core Developer Has Some Advice for Bitcoin Maximalists

Matt Corallo – a long-time Bitcoin developer and one of Blockstream’s Co-Founders – thinks BTC maximalists are not helping their favorite cryptocurrency by calling all other digital asset protocols “scams.” Instead, those should respect some altcoins because many have significant use-cases. Over the years, the largest cryptocurrency by market capitalization has amassed numerous individuals as...
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Ethereum’s Merge Could Be ‘Sell the News’ Event, Says Mark Cuban

The American billionaire investor and owner of the Dallas Mavericks – Mark Cuban – believes Ethereum’s transition from a Proof-of-Work consensus mechanism to Proof-of-Stake could be a double-edged sword. In his view, the investors’ excitement surrounding the move could surpass the actual use-cases of “the Merge” and create a “sell the news” event. Cuban also...
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Congress Sends Letter to EPA Extolling Proof of Work Mining Benefits

U.S. Congress issued another letter to the Environmental Protection Agency (EPA) on Thursday with more educational material on proof of work. This time, however, it came with a positive spin – and was co-signed by a handful of crypto bulls, rather than skeptics. The Promises of Proof of Work The letter calls on the EPA...
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NYC Mayor Adams Will Urge Gov. Hochul to Veto Anti-Bitcoin Mining Bill (Report)

New York City Mayor Eric Adams has spoken against the bill that seeks to impose a two-year moratorium on bitcoin mining plants, which are not 100% run by renewal energy in the New York state. He thinks the moratorium can impede the growth of the bitcoin mining industry in the United States. The controversial bill...
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Bitcoin Hash Rate Recovers to New All-Time Highs

After a brief slowdown in May, the Bitcoin network’s hash rate has rebounded to new all-time highs. In total, miners are now producing an average of 258 exahashes per second (EH/s), per day. According to public hash rate data, the average daily hash rate has spiked by 4.41% in the past 24 hours alone. Just...
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Salesforce Launches a Pilot NFT Platform, Won’t Support PoW Blockchains

On Wednesday, American software firm Salesforce announced the launch of a pilot NFT platform – NFT Cloud – on which users can mint and trade such digital assets. However, the company has not revealed details regarding when the platform will be available to users, nor wallets or blockchains the platform will support. Salesforce views the...
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Kevin O’Leary on Proposed PoW Ban, Says New York State is Uninvestible

Renowned TV personality and millionaire investor Kevin O’Leary said the Proof-of-Work(PoW) ban proposed by New York State would scare businesses away. According to the crypto bull, the state, along with California and Massachusetts, is uninvestable due to its poor management and unfriendly policies towards crypto businesses. Meanwhile, he did not see Terra’s failure leading to...
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Vitalik Buterin Confirms Ethereum’s Merge Could Happen in August

Arguably the most anticipated event in Ethereum’s 7-year-old history could come in the next few months, asserted the project’s co-founder as well as a couple of core ETH developers. This should happen before the “difficulty bomb” slows down the network. Speaking at a panel during the Permissionless conference, ETH core developer Preston Van Loon noted...
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New Milestones for Ethereum as Ropsten Public Testnet Merge Date Revealed

Earlier this week, a pull request was submitted by an Ethereum DevOps engineer for the Ropsten testnet Merge configuration code that can be seen in the GitHub repository. For the uninitiated, the Ropsten testnet was created by Ethereum Foundation nearly five years ago and is considered one of the best replicas for the Ethereum blockchain....
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23 Congressional Democrats Call for Investigating Proof-of-Work Facilities

Proof-of-work (PoW) protocols have been under fire for years due to their massive energy consumption – particularly hurting the battle against climate change. The latest censure against the mining industry derived from the US Congressman Jared Huffman. He penned a letter to the Environmental Protection Agency (EPA) on Wednesday, requesting it to investigate and address...
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Ripple Co-Founder Donates $5M to Environmental Campaign Against Bitcoin Mining

Chris Larsen – angel investor and co-founder of Ripple – is funding an environmental campaign to change Bitcoin’s code. Using his funds, a consortium of environmental groups will run ads across major newspapers to convince miners, software developers, and others to drop the network’s ‘proof of work’ consensus mechanism. Explaining Proof of Work To be...
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European Union Reportedly Votes Against Banning Proof of Work Cryptocurrencies

After weeks of debates and delays, the EU has voted against banning the use and mining of proof of work digital assets, such as bitcoin and ether. CryptoPotato reported earlier the Markets in Crypto Assets (MiCA) framework developed by the European Union, which had one rather threatening note that sought the de facto ban of...
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Banning Bitcoin Will be a Trillion-Dollar Mistake: Michael Saylor on EU’s MiCA

Some regulatory bodies worldwide are becoming more oppressive and hostile towards Bitcoin and digital assets. This has been exacerbated by the Russian invasion of Ukraine, as policymakers mistakenly think that the former will suddenly switch to using cryptocurrencies. Other watchdogs are growing concerned about the excessive energy demands of proof-of-work Bitcoin mining (though it still...
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The European Union Is No Longer Banning Bitcoin and Other PoW-based Assets

European Union lawmakers have removed a controversial paragraph that would have made all proof-of-work (PoW) based cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) illegal. Proposed Ban on PoW-Based Coins Deleted The Markets in Crypto-Assets (MiCA) framework, headed by Economic and Monetary Affairs (ECON) rapporteur – Stefan Berger – was originally scheduled for February 28....
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5 Years of Ethereum Proof of Work: What Did We Learn?

Proof of Work, a consensus mechanism, has proved to be the backbone of some of the leading and widely-adopted blockchain networks. These include Ethereum, Litecoin, and, of course, Bitcoin. Many from the blockchain industry have wondered how come Proof of Work (PoW) remained so resilient over all these years. Some are even baffled by its...
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Proof of Stake Vs. Proof of Work

Proof of Stake (PoS) and Proof of Work(PoW) are the two common types of consensus mechanism, which is a vital aspect of blockchain technology. Consensus mechanisms are critical to the operation of distributed ledgers- the fundamental element of the blockchain technology, allowing it to operate without a central authority. The primary role of the consensus...
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