Bitcoin’s Proof-of-Work Algorithm Needs Replacing, Argues BIS Study
The proof-of-work algorithm used by bitcoin and some other cryptos is not viable in the long term, argues a Bank of International Settlements study.
"This is the first time anyone has ever scaled proof-of-work," said Kadena co-founder Will Martino.
HDAC, issuer of the Hyundai-DAC token, is working with CasperLabs to move from proof-of-work.
Rewards received by bitcoin miners form a major chunk of the salaries paid across major proof of work (PoW) blockchains, according to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest.
Tech giant Amazon has been granted a patent for a proof-of-work (PoW) cryptographic system similar to those used by many blockchains.
Bounty0x CMO Pascal Thellman discusses some of the potential security and incentives issues with validators on proof-of-stake networks.