The proof-of-work fork of the Ethereum blockchain was targeted by a cross-chain contract exploit. Post-Ethereum Merge proof-of-work (PoW) chain ETHW has moved to quell claims that it had suffered an on-chain replay attack over the weekend. Smart contract auditing firm BlockSec flagged what it described as a replay attack that took place on Sept. 16,…
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A Web3 technology company, Virtual Nation Builders, recently said it acquired FHM, the firm that created safcoin, South Africa’s touted first proof-of-work cryptocurrency to list on a global exchange. As a result of the Web3 firm’s acquisition of FHM, the cryptocurrency will now “list and merge all its digital use-cases and platforms into the new…
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Saylor underscored the high maintenance costs and taxes linked with owning and inheriting physical property over the long term, which in the case of Bitcoin, does not exist. MicroStrategy CEO and Bitcoin (BTC) advocate Michael Saylor doubled down on his support for Bitcoin as he explained the issues related to transferring the value of physical…
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At the time of writing, only one coin in the top ten crypto assets by market capitalization is a proof-of-work (PoW) token and out of the top 20, there are only three tokens that leverage a PoW consensus mechanism. Moreover, out of 50 of the largest crypto coins by valuation, only six use PoW and…
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Following Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoW) roughly five different crypto assets were the main beneficiaries of Ethereum’s former hashrate. However, 24 hours after The Merge, anonymous developers launched an Ethereum PoW fork called ETHW and the fork has managed to garner 60.92 terahash per second (TH/s) of hashpower. However, ETHW has lost…
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Data released hours after the Merge prompted concerns about the alleged centralization of PoS. Analysis from Santiment indicates that 46.15% of Ethereum’s PoS nodes are controlled by only 2 addresses. Hours after the Merge, the first address has validated about 188 blocks or 28.97% of the nodes, and the second has validated 16.18%, or 105…
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The Microstrategy executive Michael Saylor is a big believer in Bitcoin as his company has purchased close to 130,000 bitcoin during the last few years. Six days ago, the U.S. Office of Science and Technology Policy published a report that claims proof-of-work mining operations have been affecting climate change. The science and tech department believes…
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Critics have suggested Bitcoin could not operate as the same decentralized currency without a consensus mechanism like proof-of-work. Transitioning the Ethereum blockchain from proof-of-work to proof-of-stake has reduced its energy usage by more than 99% — and many climate activists have called for Bitcoin to follow suit. In a Thursday notice following the Merge, the…
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Together, ETHW mining pools already make up more mining capacity in terms of block share than Ethermine, which opted to shut down mining operations. Despite Ethereum’s historic transition to a proof-of-stake (PoS) consensus mechanism, mining pools are increasingly signing up for mining on the upcoming proof-of-work (PoW) version of Ethereum. EthereumPoW, the community advocating for…
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