Bitcoin Cash ABC rebrands to ‘eCash’, embraces proof-of-stake — and 2 decimal...
Bitcoin Cash ABC has rebranded to “eCash,” redenominated its token, and launched a proof-of-stake consensus layer. Bitcoin Cash ABC (BCHA), the embattled cryptocurrency project that has forked away from both Bitcoin and Bitcoin Cash, has rebranded to eCash (XEC).The project’s re-launch will see it integrate proof-of-stake consensus layer “Avalanche,” introducing staking and greatly increasing the speed of transactions.eCash will also reduce its decimal places down from eight to two, with lead developer, Amaury Sechet, stating:“No other money has eight decimal places. Why should crypto?....
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In a post written by Jeff Garzik, digital currency payments processor BitPay has announced plans to bitcoin display prices as "bits" or "uBTC". The topic has been much debated in the community, and according to Garzik, "this is a human interface and technical issue that warrants careful consideration." Citing that moving to "bits" would be most compatible with existing financial software, the following is an outline of BitPay's plan: Go to six decimal places, up from 4. Drop leading "0." Prices are now expressed in micro-bitcoins (uBTC or "bits"). When necessary, add two decimal places.....
Ethereum 2.0 charts new territory with the launch of its proof-of-stake backbone as retail interest in Bitcoin spikes, Google search data suggests.
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....
This week, Bitcoinist has published two excellent articles on the topic of DPOS, or delegated Proof of Stake. Both written by Alberto Mata, DPOS is a new feature that Bitshares is talking about, which they believe solves problems of both proof or work and proof of stake systems alike, adding another layer of security by countering the negative effects of trust centralization. One fact that is pointed out however is that it a DPOS system is still vulnerable to 51% attacks, but the cost would be much higher compared to another systems. To read more visit the following articles: Dan Larimer....
A technical and in-depth analysis of the trade-offs that Ethereum’s consensus mechanism makes in its switch to proof-of-stake and how proof-of-work differs.