Ethereum dark future
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Content:
- It has reached the top, but some predict a dark future for bitcoin
- Altcoins: three alternatives to Bitcoin and Ethereum and why they deserve your attention
- The climate controversy swirling around NFTs
- People are talking about Web3. Is it the Internet of the future or just a buzzword?
- Black Dragon Knight, Eth
- Understanding Ethereum
- Ethereum Classic
- Crypto.com reportedly suffers hack, losing more than $15 million in Ethereum
- Why Ethereum has no future
It has reached the top, but some predict a dark future for bitcoin
The artwork is a montage of digital images titled Everydays: The First 5, Days , and the sale placed its artist Beeple as one of the top three most valuable living artists in the world. When you buy a piece of digital art as an NFT, you do not receive any rights to that image; instead, the NFT acts as a certificate of ownership for that specific file.
This cannot be altered or replicated, as a record of NFT ownership is stored on the blockchain, a public database of cryptocurrency transactions. So, what is it that makes NFTs different from other cryptocurrencies? The short answer is that you cannot trade one for another as each NFT is completely unique. You could, for example, exchange one Bitcoin for another as they all hold the same value they are fungible , but you could not trade one NFT for another.
The non-replicability of NFTs means that they can be attached to any digital file authenticating it as the original version of that file. This scarcity combined with sufficient demand for a piece of art and its cultural significance is what can end up valuing NFTs in the millions.
There is a lot to be said about the benefits of NFTs for smaller digital artists, who can now both authenticate their work and monetise it, while also earning commission on any future sales of their work. This has provided a new way to support digital artists, an art form which is notoriously hard to profit from. Firstly, the lack of identity checks in place when making NFTs makes stealing artwork far too easy. Those currently investing in the NFT market are betting on its sustained popularity, which is a bubble that could burst at any time.
Even despite these concerns, there is one other thing that makes the NFT market appear to be causing far more harm than good: its direct contribution to the climate crisis. The Ethereum blockchain used by NFTs consumes enough energy annually to power 2. Although developers of Ethereum have announced a plan to switch to sustainable energy sources by , this claim does not provide any certainty as there is no guarantee that it will happen in the given timeframe, and if it does, that users will actually switch from the current version.
With the main appeal of cryptocurrencies being their decentralisation, having no ties to any government or bank, no one has the power to shut them down or force their users to move elsewhere. The ability of NFTs to prescribe monetary value to digital media is an incredible development in the digital art world, which has generally been devalued by traditional art institutions. With the scope of this market already being explored, we could see NFTs being used in diverse ways in the future, but this future is only a hopeful one if their environmental impact is taken seriously and acted upon by the people who are profiting from them.
Chow, Andrew. March 22, March 11, March 1, March 13, March 24, February 10, March 18,
Altcoins: three alternatives to Bitcoin and Ethereum and why they deserve your attention
Regulators, on the other hand, are launching increasingly stringent investigations against cryptocurrency market players, and intense price fluctuations are making it difficult for them to become a means of payment. According to some analysts, all this will overshadow the future of cryptocurrency, and the rise will soon be replaced by a sharp decline. A group of analysts say bitcoin is set to plummet next year. The professor believes bitcoin has no fundamental value and can be seen as a game rather than an investment.
The climate controversy swirling around NFTs
Here's What Investors Should Know. Ethereum Just Hit a 6-Month Low. Upgrade Bitcoin Rewards Card: 1. There Are Thousands of Different Altcoins. Ryan Haar is a former personal finance reporter for NextAdvisor. She previously wrote for Bloomberg News, The…. You can buy more things than ever with cryptocurrency these days, from video games to new furniture. But should you?
People are talking about Web3. Is it the Internet of the future or just a buzzword?
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Black Dragon Knight, Eth
Layer 1 protocols are the protocols that made cryptocurrency and blockchain technology the behemoth that it is today. These are the protocols that many of the layer 2 protocols that we all know and love Lightning, Uniswap, etc. This article will cover the reason that layer 1 protocols are on the way out and layer 2 protocols are the future of blockchain technology. First, we would like to clarify that there is nothing inherently wrong with Layer 1 protocols. Remember, all the most popular cryptocurrencies are layer 1 protocols. And these protocols were necessary for the success of the industry.
Understanding Ethereum
Ethereum Classic is an open source , blockchain -based distributed computing platform featuring smart contract scripting functionality. Ethereum Classic maintains the original, unaltered history of the Ethereum network. However, due to a hack of a third-party project, the Ethereum Foundation created a new version of the Ethereum mainnet on 20 July with an irregular state change implemented that erased The DAO theft from the Ethereum blockchain history. Ethereum Classic's native Ether token is a cryptocurrency traded on digital currency exchanges under the currency code ETC. Implemented on 11 December , the current ETC monetary policy seeks the same goals as bitcoin of being mechanical, algorithmic, and capped.
Ethereum Classic
Bitcoin pioneered decentralized infrastructure and Ethereum brought programmability. But earlier proof-of-work blockchains consume massive amounts of energy and process transactions slowly in order to achieve acceptable levels of security. Heavy bandwidth consumption by these technologies leads to expensive fees, even for a simple cryptocurrency transaction.
Crypto.com reportedly suffers hack, losing more than $15 million in Ethereum
RELATED VIDEO: The Dark Future of 'Humanity Lost'Once again it feels like the technologists are dragging us down a rabbit hole of complexity and claiming that blockchain and crypto will be our saviours. Ethereum Name Service ENS is a service that makes it easy to send and receive cryptocurrency and access special websites by simple names rather than by long, complex strings of letters and numbers. For example, instead of me telling you to send crypto to my ETH address:. In both cases, ENS enables me to replace a long, complicated string with something far more readable and easier to use.
Why Ethereum has no future
Buy our Community Token. Dark Horizon is a nightmarish NFT game ecosystem set in a bleak future where 8, hand-drawn generative warriors fight to bring down the elite and break free from a life of misery. With climate change creating increasingly inhospitable conditions, how could we not? The world is already struggling to survive — we just imagined what would happen if the rich and powerful continue to use technology to save themselves and control the poor, while profiting off a dying planet. Our artwork, our concept, and our vision. Absorbing artwork is only the first step however in a larger mission to create a dystopian turn-based NFT game, like Axie Infinity or Final Fantasy. We have a strong relationship with an impressive game development powerhouse, have already began designing the game with them, and will enact that development roadmap the second we conclude our launch.
These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend. North Korea has a cryptocurrency infatuation. Its government has been accused of unleashing a global ransomware attack to raise bitcoin, mining the cryptocurrency within its borders, and hacking South Korean bitcoin exchanges.
Grief cannot be measured with tears.