Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Sweden
Sweden’s Central Bank Wants to Ban Bitcoin’s Proof of Work
Yet another central bank is coming after Bitcoin – this time for its oft-criticized proof of work (POW) consensus mechanism. It recently suggested that POW mining consumes too much energy, and ought to be banned in favor of “less energy-intensive methods.” As the central bank tweeted on Friday, energy consumption has increased sharply in recent years – especially for Bitcoin. According to estimates from Cambridge University, the network currently consumes around 128 TWh of electricity per year. That’s more than…
3 years ago