Ethereum By Example

Image Source The rise of blockchain has pushed crypto currencies to the forefront and enabled them to reach more and more people every day.  And while crypto mass adoption has been visible more than ever with currencies like Bitcoin and Ethereum, others didn’t have such an easy time taking off.  Bitcoin accumulation has created an abundance of wealth for those who own it, while Ethereum has provided business opportunities via creations like smart contracts. But there were also cryptocurrencies like Dogecoin and SpaceBit, and, most famously, Ethereum’s DAO that failed quickly after the launch because of unclearly mapped progression paths, bad publicity, security breaches, and unethical behavior.  In that sense, many people believe that the reason for these shortcomings is the absence of regulations and frameworks that prevent bad business practices and malicious behavior. The continued ability to conduct all these activities in the sector, unchecked, has resulted in the cr...

The introduction of " Casper " i n order to make Ethereum better for the environment, this blockchain is looking to cut down power consumption and its impact. Hence the shift to a completely new transaction validation and recording process with Ethereum 2.0 — Proof of Stake Ethereum Plans to Cut Its Absurd Energy Consumption by 99 Percent The cryptocurrency is going on an energy diet to compete with more efficient blockchain Due to their reliance on a processing-power-intensive validation method known as Proof of Work, e arly blockchain implementations  are — notoriously affected by performance issues like high transaction costs and long periods of delivery — caused by network congestion. The problem is all that mining. Like most cryptocurrencies, Ethereum relies on a computational competition called  proof of work (PoW)  . In PoW, all participants race to cryptographically secure transactions and add them to the blockchain’s globally distributed ledger. It’s a winner-tak...