Bitcoin… You Haven’t Heard The Half Of It

  • With halving suddenly making the act of validating blocks far less lucrative, a lot of smaller participants will drop out concentrating power in the larger miners.
  • Proof of Work has been one of the defining characteristics of digital currencies, but this way of mining is arguably outdated and largely unnecessary.
  • Proof of Stake requires far less computation power, which means lower hardware costs and lower electricity costs.
  • The halving mechanism is more detrimental to a currency that operates solely using a Proof of Work system, like Bitcoin; primarily it increases Proof of Work’s vulnerability.
  • The halving mechanism is part of the mechanics of cryptocurrencies, designed to act as an inflationary brake to stabilise the currency.

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Last month a major event happened in the cryptocurrency community: Bitcoin’s block reward halved for the second time in its history. The halving event or…


Bitcoin… You Haven’t Heard The Half Of It