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Proofofwork

The Fork of Thrones - Will the Merge Fracture the ETH Ecosystem?The much anticipated (or dreaded if you're a miner) "merge" coming in Sep 19th will officially move the Ethereum ecosystem from proof-of-work to proof-of-stake. Justin Sun seems to see the opportunity for this event to sow some chaos within his competition by supporting ETHW and ETHS coins on the Poloniex exchanges as of this week. - ETHW and ETHS is similar to ETC (Ethereum Classic) in the sense that they are hard-forks of the original ETH chain - which means that if you had money in a wallet during the time of the fork, you would have gotten copied coins of it there, too. (Free money!) FYI, if you had your money on an exchange during that time, however, the coins go to them, not you. - ETC has had many issues in the past, including having gotten 51% attacked, which is probably the worst thing that can happen on any given chain. These new projects (with more likely to emerge as a result of miners looking for work after leaving ETH2) will also be vulnerable to similar attacks just because the smaller size makes it easier for hackers to target. - A lot of developers and artists were chased off ETH due to its high-gas fee problems last year, and it's unclear if they're going to be going back, or if the foundation has any strategy of addressing this problem in the near future. (Right now the ecosystem is dominated by talks of speculators talking to other speculators about speculation - which usually is a bad sign for a project's long-term prospects.) ETH has many issues to contend with, even if the merge is successful. (Sharding and scaling issues are planned for 2023, not in September, btw - it's unclear whether or not this upgrade will have an impact on the high fees.) - Crypto's biggest sell during a recession - staking rewards - is not available on Bitcoin, since simply doesn't have the mechanism to do so. The rivalry between the two coins right now revolves around the pros/cons of PoW vs PoS, but keep in mind that on PoW, mining power = voting power; on PoS, money = voting power. Aside from Tezos (XTZ) and a few other niche projects, most coins do not offer on-chain governance so the results of voting will always be unclear and vulnerable to manipulation/misinformation. It's going to be a crazy year for both crypto and the general economy so hope people are prepared. Good luck, folks. 🤞
Editors' picks
COINBASE:ETHUSDLong
by RyanTanaka
23
Proof-of-Stake Coins Are Now Winning Web3. Can Bitcoin Survive?Along with the "decoupling" event that happened on Friday, Ethereum's announcement of the ETH2/Consensys/Merge coming up in August is likely to create some waves in the crypto space as the date approaches - not only will it affect the ETH ecosystem itself, there's a chance that it could have significant ripple effects on the tokens minted on top of it as well. Over the years there has been, however, a general trend towards Proof-of-Stake systems gaining more favorability, especially among DeFi projects - because of its greater efficiency and ease of use. After the merge, Bitcoin may be the only project left on the charts that is using the Proof-of-Work model - what does this mean for Web3 and crypto spaces longer term?
Long
by RyanTanaka
Tezos (XTZ) Continues its Rally: The Future of NFTs and Web3Tezos continues to beat the markets (both in crypto and in fiat) as of this week, growing as much as 20% in the last 5 days while most other assets continues to slump. This growth is being driven by increased transactions and traction - particularly around the NFT marketplaces. A more detailed look at the history and growth potential of the chain. teia.surf (Curation Layer built on Teia) teia.art (Version 2 and re-brand of Hic et Nunc) objkt.com (One of the biggest NFT platforms on the Tezos ecosystem right now - recently formed a partnership with TEIA for cross-platform interoperability.)
BITFINEX:XTZUSDLong
by RyanTanaka
3
The Marriage Between Litecoin (LTC) and Dogecoin (DOGE)Everyone is talking about dogecoin these days, but a lot of people don't know that DOGE, for a very long time, have been running in parallel with LTC. Back in 2014, Charlie Lee of the Litecoin Foundation and the DOGE community made an agreement to dual-mine in order to help the two projects support each other during its initial phases. And it worked. Big time, in fact. Litecoin is known for its non-flashiness (they don't really do much media PR so not many people know about them), preferring to stick to the nuts and bolts of making the system work. Dogecoin, on the other hand, is...well, Dogecoin. But the collaboration between the two opposites are what made it work, I would argue.
by RyanTanaka