Posts tagged "cryptocurrency"

Chia, A Greener Cryptocurrency

The founder of BitTorrent is on a quest to develop an eco-friendly cryptocurrency.
“With Chia, Cohen aims to replace the energy-greedy part of Bitcoin’s code, which rewards miners for generating trillions of numbers a second, with an energy-efficient system, which rewards miners (or “farmers” in Chia’s parlance) based on the amount of unused hard-drive space they have on their computers and how long they’ve had it. If you opt in, the Chia Network will essentially populate that unused space with bingo cards. If Chia calls the numbers on your card, you’ll be awarded newly minted chia.”


Crypto: Go Or No?

An interesting innovation, but I can’t help but notice that these countries aren’t exactly the most stable. This could attract invesetment — but also volatility.

The small African country of Senegal is making waves by announcing that it plans to issue a national digital currency utilizing blockchain technology, the same technology that powers Bitcoin.
The National Bank of Ukraine plans to use blockchain or distributed ledger technology in the country for facilitating a cashless economy. The NBU Board has approved a roadmap for Cashless Economy, which for the first…

And for an alternate take: Charles Stross pulls no punches:

Charlie Stross: Bitcoin should die in a fire