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ADOPTION ALTCOINS ANALYSIS BITCOIN COIN INTROS CULTURE ETHEREUM EXCHANGES HUMOR ICOS INTERVIEWS LITECOIN MINING NEO OPINION PARTNERSHIPS
Can Be Resolved
Reuben Jackson 17 hours ago 3 min read 385 Views
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Stellar | XLM
6 -2.74%
Most cryptocurrencies are still lagging far behind. Ripple is the outlier and can process $0.21381 $4.01B
up to 1,500 transactions per second, suggesting that it is likely to have the potential to Litecoin | LTC
7 -9.19%
become a viable payment method in the future. $57.8765 $3.35B
Cardano | ADA
8 -6.7%
Meanwhile, Bitcoin and Ethereum are even further behind with transaction speeds of $0.11395 $2.95B
seven and 20 transactions per second, respectively. This issue severely inhibits the
Tether | USDT
9 +0.02%
likelihood of either becoming mainstream payment solutions in the future. $1.00563 $2.42B
TRON | TRX
The transaction speed for cryptocurrencies is determined by the time taken to add a 10
$0.02348 $1.54B
-7.55%
As it stands, the two most popular mining protocols are Proof-of-Work (PoW) and Proof- ADOPTION STOS
However, there are signi cant issues with both of these protocols. For starters, the 8 hours ago
Bitcoin PoW protocol has incentivized a signi cant number of individuals and
BITCOIN PEOPLE OF BLOCKCHAIN
organizations to buy more hardware and build huge mining farms, despite the fact that TRADING
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The PoS protocol is touted to have a small number of bene ts over PoW–for instance, Scalability is Blockchain’s
Biggest Problem But it Can Be
slightly lower computational power requirements, slightly lower power consumption
Resolved
and slightly faster transaction speeds–which explains why Ethereum decided to 17 hours ago
implement it as part of its Casper update. However, this protocol comes with its own
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issues.
Stablecoins 101 – The Who,
What, Why and How
With the PoS protocol, the more the user stakes, the higher chance they have of being 19 hours ago
the one to claim the block reward. This means that, once again, this system mainly
ADOPTION ETHEREUM
bene ts large organizations with large sums of money to stake. TECHNOLOGY
In an attempt to solve these issues, IOTW has recently invented a new way of mining, CULTURE RIPPLE
than both PoW and PoS, making it a potential solution for the current scalability
problems facing the blockchain. PoA can already process thousands of transactions per ADOPTION ANALYSIS OPINION
Their target is to reach 1M/tps, which would enable them to process even more ADOPTION TRADING
Yet another bene t of the PoA protocol is that it is fully compatible with IoT devices, and
ADOPTION BITCOIN ETHEREUM
there is no risk of power or memory loss. This will be vital in the coming years,
Video App to Reward Users
considering the IoT industry is expected to grow signi cantly. with Bitcoin, Ethereum
2 days ago
Finally, for blockchain to become widely adopted, it is vital that it’s easy and convenient More News
to use. For users to be able to mine IOTW coins, there is no added software that they
need to buy. They can simply just download the rmware and begin mining instantly.
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In time, companies will even include the IOTW pre-installed in devices to make the Asobi Coin
process even easier. Distributed secondary content
platform
While PoW and PoS require miners to compete for blows, DPoS allows miners to
collaborate to make blocks. As a result, DPoS can run signi cantly faster than other
consensus mechanisms.
It currently takes approximately 10 minutes for a Bitcoin block to be mined. EOS, on the
other hand–one of the rst cryptocurrencies to implement the DPoS protocol, along
with Steemit and Bitshares–has an average block time of under one second.
This allows cheap transactions, enhances scalability and makes the process energy
ef cient. The main downside of this protocol is that it is partially centralized.
There have been many different proposed blockchain scaling solutions over the years–
from the likes of Segwit and block size increase to Sharding and Plasma. Each solution
has its pros and cons and there has been signi cant debate over which is the most
suitable.
However, one thing is for certain: to support the increased usage of cryptocurrencies, we
need to step up our efforts to nd a suitable scaling solution.
Whether the issue can be completely solved is yet to be seen but so far, the results are
looking promising.
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Reuben Jackson
Reuben is a blockchain security expert and a freelance writer living in New York along with his wife and
two adorable children. He writes about all things cryptocurrency and blockchain related and is a
passionate advocate for blockchain solutions.
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