What is Ethereum 2.0? A Game-Changer in Cryptocurrency Ethereum 2.0, the second largest cryptocurrency by market capitalisation, has successfully finally moved to its proof-of-stake consensus mechanism. In doing so it will reduce its energy consumption by a whopping 99.5% compared to its previous proof-of-work system. Per TheVerge, the enormous pollution reduction comes from a change in how Ethereum users earn new tokens. With The Merge, Ethereum is getting its consensus mechanism that is proof-of-work that...Continue Reading
Environmental Challenges in Bitcoin Miners A report from Arcane, published by CoinTelegraph, has indicated that While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin miners, a report has revealed the market’s potential to transform the energy industry. Bitcoin Miners are said to be responsible for approximately 137 terawatt hours of energy consumption per year according to latest data from the Cambridge Bitcoin Electricity Consumption Index. According to Digiconomist, Ethereum produces more than 47...Continue Reading
Lessons from Crypto.com’s $10.5M Error Crypto.com, has mistakenly transferred $10.5 million to a Melbourne woman, Thevamanogari Manivel, back in May of 2021, when they were simply trying to process a refund of $100. The exchange is currently reeling from the expensive accident, revealing the mistake was only picked up 7 months later in an end-of-year audit, according to the outlet. The Singapore-headquartered exchange legally pursued the Melbourne local to recover the money, informing the court...Continue Reading
Cryptocurrency Exchange Planned by Samsung Cryptocurrency exchange plans are in motion as Samsung, the South Korean multinational manufacturing conglomerate, sets its sights on creating a digital asset exchange in the first half of 2023. The tech giant’s investment firm, Samsung Securities, will spearhead this initiative. According to reports out of South Korea’s local media, Samsung is not the only Korean corporation that is planning to venture into the cryptocurrency space. Over six other major companies have plans...Continue Reading
What is an ASIC in Crypto Mining The chairman of ASIC, Joe Longo, speaking at a lunch in Melbourne on Tuesday, said ASIC’s focus would be on protecting people participating in the financial system” and guarding against consumer harms. The head of the corporate watchdog says his job is to protect consumers and not be a “crypto cheerleader” as he warns against investing in what he describes as highly volatile, inherently risky assets such as Bitcoin....Continue Reading
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