In September 2022, Bitcoin’s SHA256 algorithm ranked as the seventh most lucrative proof-of-work (PoW) network for mining. Fast forward a year and four months, and this algorithm has ascended to become the third most profitable crypto network for mining operations. 2022 to 2024 Sees Significant Shifts in Crypto Mining Profitability As of January 2024, the […]
As cryptocurrencies continue to evolve, two key consensus mechanisms have emerged for validating transactions on the blockchain: proof-of-work (PoW) and proof-of-stake (PoS). This explainer will examine how these protocols differ and the unique benefits and drawbacks of each. Consensus Mechanisms in Cryptocurrency Proof-of-work (PoW), first introduced by Bitcoin in 2009, requires miners to compete to […]