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Dutch Bank Flustered Over the Amount of Electricity Bitcoin Consumes

Featured Dutch bank ING is flustered over the fact bitcoin consumes so much energy. Recently, the bank released a report saying bitcoin transactions consume as much electricity as a house does in a month. They seem to believe this is problematic, since traditional electronic payment methods do not use near as much energy, according to the bank. They

Bitmex Exchange and Samourai Wallet Details Plans on How to Handle Upcoming Forks

Announcements Bitcoin Mercantile Exchange (Bitmex) and Samourai Wallet (Samourai) have each released details on action plans regarding the expected fork at block height 494,784. This mid-November triggering of Segregated Witness 2 (Segwit2x) is proving to be a battleground for passionate bitcoiners on all sides. Those hostile to the fork are themselv

Preparing for the Bitcoin Hard Forks: A Step-by-Step Walkthrough

Technology At the moment there are two forks planned for the Bitcoin network, and cryptocurrency proponents are curious about taking the best preparations. One fork is called Bitcoin Gold which is scheduled for October 25, while the other hard fork Segwit2x (BTC1) will take place roughly around mid-November or block height 494784.Also read:Putin Tell

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The History and Evolution of Proof of Stake

The views expressed here are the author’s own and do not necessarily represent the views of Cointelgraph.comProof of Stake (PoS) was first introduced in a paper by Sunny King and Scott Nadal in 2012 and intended to solve the problem of Bitcoin mining’s high energy consumption. At that time, it cost an average of $150,000 a day to maintain the Bitcoin network. Today, this figure is at a stagger

Lightning Network Desktop App Now Available for Testing

Technology Lightning Network developers released a testnet desktop application today for Lnd. According to the blog post, this will unleash a blitz of testing on the network. The developers actively want technical users to immediately begin experimenting with the application. They provided an official download link from their Github site. Also r

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Editorial: Ars Technica Just Doesn’t Understand Bitcoin, Says Forks Have Split Network in Half

Expecting mainstream media coverage of Bitcoin’s surge past $5,000, today I browsed over to one of my favorite news websites: Ars Technica. I was sorely disappointed at what I found, and at the fact that the preeminent tech news site simply doesn’t “get” Bitcoin.Why and whereforeThe piece by Ars Technica immediately begins by questioning the reason behind Bitcoin’s high price, first spec

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Craig Wright Claims Only Corporations Need to Dictate Mining and Non-mining Nodes Don’t Matter

The concept of mining Bitcoin has always been somewhat controversial. More specifically, there are a lot of conflicting opinions about this concept. There is a high degree of centralization in Bitcoin mining right now. Craig Wright, the self-professed Satoshi Nakamoto, states this was always the plan. Anyone running a non-mining node “is irrelevant|. Another controversial statement that won’t

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India Trials a Power Grid on the Blockchain to Incentivize Sustainable Energy

Access to reliable energy is the foundation of economic development and human society. Yet reliable energy can come at a steep environmental cost.Today’s energy systems are being rapidly reexamined and transformed by both private businesses and public organizations. Innovation coupled with changing policy and consumer demands has prompted The World Economic Forum’s System Initiative On Shaping

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Interview: Cryptographer Silvio Micali on Bitcoin, Ethereum and Proof of Stake

Silvio Micali is an MIT professor and Turing Award–winning cryptographer known for his work in technologies that form the bedrock of blockchains today: public-key cryptosystems, digital signatures, pseudorandomness and multiparty computations. He is also the co-inventor of the zero-knowledge proof.In the ’90s, he worked onByzantine agreement, a protocol for getting nodes in a distributed syste

Why the SegWit2x Fork in November Will Likely Have Minimal Impact on Bitcoin Price

Over the past week, the Bitcoin price has shown strong resilience towards the exit of the Chinese cryptocurrency exchange market and the emergence of the SegWit2x hard fork in November.Earlier this year, a group of 58 companies led by Digital Currency Group (DCG) that represent 83.28 percent of hashing power and 20.5 million bitcoin wallets agreed on a proposal known as SegWit2x, to activate the B

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