Tag: Ethereum

Ethereum’s Big Switch Explained: Why the Blockchain is Ditching Proof of Work and Adopting Proof of Stake Instead

Recently, we posted a brief overview of the Ethereum ICO craze. Before that, we had reviewed how blockchains work in general. Today, we’ll delve deeper into the process of mining. In this article, we’ll introduce briefly the concepts of Proof of Work (PoW) and Proof of Stake (PoS). We’ll talk about why Ethereum, the second largest blockchain, is planning to switch from the former to the latter and share some forecasts as to the outcomes this decision might lead to. Let’s get to it. Byzantine Generals’ Problem Among his many breakthrough accomplishments, Satoshi, the mysterious founder of Bitcoin, is praised ... Read more

The Dark Side of The Blockchain: What You Should Know About ICOs and the Ethereum Bubble

Not too long ago people were mocked for being enthusiastic about cryptocurrencies. There were popular comedy sketches, such as this one, showing looney guys being obsessed with Bitcoin. There were numerous articles titled “Why cryptocurrencies are a scam” or something along those lines. And there was general reluctance to take the Blockchain and everything that comes out of it seriously. Now, things have changed. The market capitalization of the cryptocurrency sector has exceeded $100b and Etherium, Bitcoin’s more flexible relative and the hottest thing in the world of blockchains, is rising in price at a frenetic, $100/week pace. The Ethereum ... Read more