TALKING HEADS: Do You Consider The Lightning Network A Proof-Of-Stake System?
It’s time to find out what the protagonists have to say. In TALKING HEADS, Bitcoinist will ask the experts about the cryptoverse’s overarching themes and latest news. This time, we have an all-star cast that’s as diverse as the times we’re living in. Prepare to have your mind electrified by these talking heads’ ideas and […]
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Believe it or not, the Proof-Of-Stake Ethereum is a reality. Those crazy kids really did it. To celebrate the achievement, Bitcoinist turns the mic to the captains of the industry. It’s time for the TALKING HEADS to discuss one of cryptocurrencies’ most important news of the year. This time, we kept the question vague and […]
Andreas Antonopoulos surprised a crowd at a Berlin Bitcoin conference last week by claiming that, by the end of this year, Bitcoin’s consensus algorithm will be totally changed. The prediction comes after a much-publicized block size debate in which developers have disagreed on how to update the Bitcoin system in order for it to keep pace with growth in transaction demand. “By probably the end of 2016 Bitcoin will have a hybrid of Proof-of-Work proof of stake system,” Antonopoulos told conference attendees in a video available on YouTube. “Because Lightning Network is a Proof-of-Stake....
The lightning Network is a pure proof-of-stake system, but it will be based on the Bitcoin network in a trustless manner, and guaranteed by Bitcoin’s proof-of-work. To quite some people, the connection between creativity and financial freedom has remained invisible for quite some time now. But Andreas Antonopoulos pointed out how there is a distinct correlation between creativity and what fine-grained components have to offer. Andreas Antonopoulos: “Bitcoin Has A Lot of Exciting New Features.” One of the more prominent very few people are aware of is how Bitcoin will have a hybrid....
After the rollout of the Ethereum Proof-of-Stake blockchain, dubbed “Beacon Chain”, the network has been moving fast to integrate it with the Proof-of-Work blockchain. Vitalik Buterin, the inventor of Ethereum, recently gave a speech at the World Blockchain Conference talking about this process also known as “The Merge”. The network has undergone several updates, implemented […]
What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....