Consensus

Auto Added by WPeMatico

As Miners Leave Bitcoin in Droves, Space Allocation Dedicated to Filecoin and Chia Surges

by

While a large quantity of hashrate has stopped dedicating resources to the Bitcoin network, a great number of alternative mining ecosystems are swelling with new participants. China’s ASIC exodus has ignited a significant increase in demand for accessing storage power on both Filecoin and Chia’s proof-of-storage networks. Both networks have seen space allocation spike significantly … Read more

Vitalik Buterin Says People Difficulties Not Technical Difficulties Slowed the Ethereum 2.0 Rollout

by

The cofounder of Ethereum, Vitalik Buterin, recently discussed the highly anticipated full transition from a proof-of-work (PoW) consensus model to proof-of-stake (PoS) as its replacement. Buterin admitted at Hong Kong’s Startmeup HK 2021 Festival that the transition was taking too long and highlighted that it wasn’t technical problems but “related to people.” Buterin: ‘If You … Read more

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

by

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 being secure while … Read more

New Paper: Ripple Network Doesn’t Meet Criteria To Reach Consensus

by

A brand-new paper which analyzes the Ripple network concluded that the network does not reach true consensus, as its protocol “may violate safety and liveness,” and doesn’t follow the established models and algorithms for a Byzantine agreement. Report Claims XRP’s Network Is Vulnerable to Malicious Actors According to Ignacio Amores-Sesar, Christian Cachin, and Jovana Micic, … Read more