[ad_1]
Justin Sun applauds Vitalik Buterin for good work
The world of cryptocurrencies is shaping how things are done in different dynamics. Considered one of the safest and most cost-effective technologies, the results obtained here were the result of constant competition and innovation among the various players.
The Ethereum platform has been in the news to surpass its competitors. It ranks as one of the best and secure open source public systems used in blockchain technology. Recently, he reached the headlines for bringing the technology to a whole new level.
The new development is appreciated
The platform has completed Rinkeby Testnet; a secure network that protects attackers from interfering with the power of extraction within the system. The success caught the attention of Justin Sun who praised the developers for having inaugurated a new era of Proof-of-Stake [PoS] technology. Sun and Vitalik Buterin, who is the innovative developer of Ethereum is always in constant competition. Thus, a congratulatory message from Sun was a sign that the two great minds are for the best interest of blockchain technology.
Protocol Shift
It is expected that Ethereum will launch Casper. It is a PoS protocol. Perhaps this will mark a significant change in the way in which Ethreum extracts and validates its cryptocurrencies. For a long time he used the Proof of Work (PoW) algorithm. The two algorithms are completely different in the way they work. PoW it is based on the idea of rewarding miners on the basis of how to solve mathematical problems with the aim of validating transactions and creating new blocks.
However, the creators of PoS are chosen deterministically. As such, they are selected based on their wealth. Casper is expected to be a very efficient protocol. First of all, it will have a lot of energy savings. Furthermore, system attacks will be challenging and expensive at the same time.
[ad_2]Source link
