Proof of Stake

The price of Ethereum has jumped to a fortnight high as its London Upgrade later this month draws close. This upgrade will introduce the highly anticipated EIP-1559 aimed at reducing gas costs on the Ethereum network. The London upgrade will be deployed to the mainnet after its successful release to Ropsten, Goerli, and Rinkeby testnets. The Rinkeby testnet release is scheduled to come before the end of this week. After regaining the critically important $2,000 level, the Ethereum price has…

Termed an Ethereum killer, Cardano is a proof-of-stake (PoS) blockchain platform that integrates pioneering technologies to offer uncompromised security and sustainability to decentralized applications, systems, and communities.  Cardano claims that it's the only blockchain project to be founded on the grounds of scientific peer-reviewed research and developed via evidence-based methods. Furthermore, the Cardano network is powered by ADA cryptocurrency, dubbed the only crypto employing a scientific philosophy and research-driven approach.  Cardano's founder Charles Hoskinson claims that cryptocurrencies, including Cardano, are…

The first digital currency to be introduced, Bitcoin, introduced a new consensus called proof of work, which aimed to secure the network. A miner does a lot of work(arithmetic calculation) and shows proof in proof of work. However, this system has many problems like high electricity costs. Therefore, it launched a new consensus PoS. Proof of Stake(PoS), introduced in 2012, allows a user to collateralize some assets to validate and release blocks. Since then, several cryptos have their versions of…

Everstake is a popular Proof-of-Stake (PoS) infrastructure provider and Validator that offers users a secure and reliable staking option. It built the network to service the growing number of institutional investment firms and regular users entering the market. As such, it employs high-end security protocols to ensure your crypto remains safe. What Problems Does Everstake Attempt to Fix? Everstake platform users avoid some of the common pitfalls of the industry. The network’s open staking strategy is designed to reduce financial…

Blockchain technology is a robust network designed to ensure that cryptocurrencies/ digital currencies remain reliable and serve their inception purpose. Therefore, learning about blockchain and cryptographic processes is fascinating to technology enthusiasts and beginner investors. Generally, cryptocurrencies are released in the blockchain through a process called mining. Although mining adds the blocks onto the chains, a preceding validation process streamlines everything for mining. So what are validation and mining? What differentiates the two? Keep reading to understand the way new…

In the past week, Algorand prices have been plummeting, leading to severe losses to Algo holders. Unfortunately, this episode is part of a series of price plummets that have struck them. In just the first three months of its inception, Algo price fell from $3.28 to $0.37 (at the time of writing), taking a hit of a 88% price reduction. [caption id="attachment_15626" align="aligncenter" width="1874"] Source: Coingecko[/caption] Why did Algo's price plummet? Many crypto enthusiasts made speculations on the reasons for…

Cryptocurrency wallets are useful tools that allow crypto enthusiasts quick access to their crypto assets. It's worth mentioning that this is one way the global use of cryptocurrencies can become a reality in our daily lives. However, some multicurrency wallets have moved a step further, not only as a payment tool but also to serve other unique functions in the digital financial world. Blockchain solutions have enabled crypto enthusiasts to use their cryptocurrency wallets as a haven to grow their…

When it comes to blockchain, Bitcoin and Ethereum are unbeatable. Bitcoin, the most popular and stable network, gave birth to a new decentralized digital currency form. Ethereum, on the other hand, brought smart contracts that are used to power tamper-proof financial contracts and decentralized applications (DApps). In essence, Ether - Ethereum's coin was meant to complement and not compete with Bitcoin - Bitcoin's coin and the first cryptocurrency. In other words, the two networks can be combined to come up…

ETH 2.0 staking node requires Ethereum wallets to have a minimum of 32 ETH and according to data provided by Arcane Research and Nansen AI, the number of Ethereum wallets with the minimum number of tokens have increased by 13 percent in 2020. The cryptocurrency space is awaiting the TBD launch of Ethereum 2.0, while ETH buyers are accumulating tokens in anticipation of the update apparently in an attempt to claim the supposed staking nodes that will be important to ETH’s upgrade. The analytics…