Proof of Work

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ESG Study Shows Bitcoin Mining’s Potential to Eliminate 0.15% of Global Warming by 2045, Claims No Other Technology Can Do Better

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In recent times, the impact of bitcoin mining on the environment has been a topical discussion as climate change activists believe proof-of-work (PoW) mining is too energy-intensive. However, a recent report written by the ESG analyst Daniel Batten explains that bitcoin mining could eliminate the world’s carbon emissions by 5.32%. Batten’s study notes that if … Read more

OpenEthereum support ends with the Merge fast approaching

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“The usefulness has run its course,” the OpenEthereum team wrote regarding its popular software, “we look forward to the next phase of clean, green and massively scalable blockchain infrastructure.” Go to Source Powered by WPeMatico

Ethereum Has Destroyed $8.10 Billion in Ether, ETH Scarcity to Increase After The Merge

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According to current metrics, the Ethereum blockchain has burned 2.35 million ether since the implementation of Ethereum Improvement Proposal (EIP) 1559. The $8.10 billion in value was burned over the course of nine months and during the last seven days, 18,110 ether worth $34.9 million was destroyed. 2.35 Million Ethereum Burned — Ethereum Dev Says … Read more

Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

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Cloudflare, an internet services and DDoS protection company, has announced a new strategy regarding its Web3 experiments. The company revealed it will run Ethereum validator nodes as part of its commitment to help to scale the internet by using proof-of-stake (PoS) consensus technologies. This will ostensibly allow the company to access the energy efficiency and … Read more

Proposed Crypto Mining Ban in Norway Fails to Gain Support in Parliament

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A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not Ban Bitcoin Mining The parliament of Norway has considered … Read more

ETH Network Q1 Revenue Grew 46% to $2.4 Billion, Token Inflation Rate Drops to 0.51%

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The revenues accrued by the Ethereum network rose by 46% from $1.6 billion to $2.4 billion during the first quarter of 2022. Contributing to the growth in the network’s revenues were non-fungible token (NFT) marketplace sales, which rose by more than 19,000% during the period under review. ETH Inflation Rate Drops to 0.51% Ethereum’s revenues … Read more