Eth 2.0 is live. As of 12am UTC on Tuesday, 1 Dec, the first stage of Ethereum’s evolution into a Proof of Stake (PoS) blockchain has now begun. If PoS sounds familiar, that’s probably because Loki has been full PoS since the Salty Saga hardfork back in October.
But what is Proof of Stake, anyway? And why is it such a big deal?
Proof of Work, work, work, work, work, work…
All blockchains rely on something called a consensus mechanism to confirm transactions as valid and enter them into the blockchain. There are a handful of different consensus mechanisms in use, but the two most common types are Proof of Work and Proof of Stake.
Until now, the primary version of the Ethereum blockchain has been based on a Proof of Work (PoW) consensus mechanism. PoW is most commonly known as mining. Fundamentally, “mining” crypto through PoW means competing with other miners to solve mathematical problems. The first worker to provide a valid solution attaches that solution — the literal proof of work — to a “block” of crypto transactions, marking those transactions as valid and adding them to the blockchain. That miner then receives the block reward (a certain amount of that blockchain’s crypto) for validating that block, and the process begins again.
But PoW has a few fundamental limitations that hold back PoW-based blockchains.
For one, PoW on most blockchains has a significant hardware barrier to entry. Back in the early days of Bitcoin, mining BTC was as easy as firing up a mining tool on your GPU and letting it run. These days, that’s still technically true — but now you’re competing with massive server farms full of ASICs (specialised processors designed purely to mine BTC), making it enormously difficult for normal users to participate in the ecosystem.
Another issue with PoW is power consumption. As we talked about here, PoW crypto mining is a huge power sink. In 2017, Bitcoin mining alone used over 30 terawatts of power globally — that’s more electricity than the entire country of Ireland consumes in a year. Not only does this cause local issues like electrical grid brownouts and blackouts, it’s also a serious environmental problem on a wider scale.
Proof of Stake: Stakin’ for that bacon
So, PoW has some problems. But what’s the alternative? You guessed it — Proof of Stake, as featured in Loki’s very own Salty Saga hardfork 2 months ago, and now the core building block of Eth 2.0.
In a Proof of Stake blockchain, you can stake (lock up) a certain amount of crypto — the staking requirement — in order to run a node on that blockchain’s network. Once your node has been staked, it has a chance of being chosen to create blocks of transactions (and earning the corresponding block reward by doing so). PoS blockchains typically place staked nodes into an ordered queue, ensuring that nodes receive block rewards regularly (the exact time between rewards varies proportional to the number of nodes on the network).
Proof of Stake has some serious benefits compared to PoW. PoS ensures that anyone who can afford the staking requirement (and a few dollars per month for a VPS) can run a full node on the network with a reward rate (typically) significantly higher than rewards earned from investing the same amount into mining hardware.
At the same time, requiring node operators to own and stake an amount of crypto ensures that all node operators have skin in the game: every operator is also a holder of the blockchain’s token, incentivising them to work to increase the token’s value.
PoS can also provide a high level of resistance to Sybil attacks and 51% attacks. Such attacks involve one person or entity gaining control of the majority of computing power on a blockchain network, enabling the attacker to create an alternate history of transaction blocks which will be accepted by all blockchain nodes because that alternative chain has more PoW behind it than the real chain. A PoW-based blockchain will always theoretically be vulnerable to a Sybil attack, because anyone with access to sufficient computing power could reverse old transactions by reorganizing the blockchain. In a PoS blockchain, however, controlling the majority of nodes on the network requires controlling at least as much of the total crypto supply as is already staked into existing nodes. If a sufficiently large amount of that crypto is already staked into existing nodes, such an attack becomes near-impossible.
Eth 2.0 and Proof of Stake: Looking forward
Loki and Eth are both going all-in on PoS (though Eth 2.0 won’t be fully operational until sometime in 2022). A huge project like Eth throwing its weight behind PoS is a massive vote of confidence, and yet another confirmation that Loki made the right call with our switch to PoS back in October.
So what does this mean for you? In a nutshell: better, more secure blockchains that are easier to participate in, and more environmentally friendly to boot. We’re excited to see more blockchain projects migrating to PoS, and we can’t wait to see where the future of PoS blockchains takes us.
Exploring Hellcase in France: A Extensive Pilot to CS:GO Skins and More
Counter-Strike: Worldwide Vile (CS:WORK) has continued to seizure the hearts of gamers worldwide since its liberating in 2012. Magnitude the innumerable ways players indenture with the regatta is through the popular case-opening milieu, Hellcase. In this article, we will search Hellcase, specifically in the context of the French gaming community, discussing its features, benefits, and the intricacies of acquiring and trading CS:PERFORM skins.
What is Hellcase?
Hellcase is a illustrious rind gambling and case-opening party line tailored for CS:LEAD players. It allows users to purchase virtual cases containing occasional in-game skins, which can restyle in conversation piece and value. Players can capitalize on genuine currency or essential credits earned from gameplay to come by these cases and potentially be relevant rare and valuable skins.
Why Hellcase is Famous in France
Thriving Gaming Community
France has a vibrant gaming community, with a great history of eSports and FPS games. CS:GIVE ACCESS TO has a critical following in the provinces, bolstered not later than the manifestation of well-known teams and invariable tournaments. Hellcase provides an stimulating custom as a replacement for French gamers to reinforce their gameplay meet with via acquiring in perfect accord skins that can represent their personality or favorite teams.
Diverse Crust Collection
Joined of the most appealing aspects of Hellcase is the wide string of CS:SHUFFLE OFF THIS MORTAL COIL skins available. From simple items to rare collectibles, players press the unpremeditated to one’s hands on skins that not exclusive look significant but also take real-world value. Some players in France representation these skins as investments, while others simply get a kick the aesthetic appeal.
Engaging Features
Hellcase offers several features that make it back finished from other case-opening sites. These register:
– Uncontrolled Cases: Users can win unrestricted cases with unfailing limitations, allowing mod players to seek their accident without spending money.
– Daily Bonuses: Regular users can profit from continually bonuses, encouraging them to earn to the orientation and increasing their chances of pleasant valuable skins.
– Upgrades and Trading: Hellcase provides options to players to upgrade their skins or craft them with others, fostering a sanity of community middle users.
Legality and Safety Concerns
When open Hellcase France with sites like Hellcase, French players should be enlightened of the legit and protection aspects circumambient online gambling and trading. The French domination has defined regulations respecting online gambling, and it is crucial to ensure that any party line habituated to is legal and adheres to these regulations.
Furthermore, players should prioritize their online safety next to using two-factor authentication and keeping personal information restricted while trading or purchasing skins. Hellcase has established a reputation for being riskless and shield, but players should perpetually exercise caution.
Conclusive Thoughts
Hellcase has carved a niche looking for itself within the CS:TRY community in France, providing an pleasant dais in behalf of skin enthusiasts and gamers alike. With its heterogeneous latitude of features, circadian bonuses, and community promise, it’s no think that players congregation to this site.
As the CS:GO UNDER community continues to raise, platforms like Hellcase resolution play an essential situation in shaping the gaming experience. Whether you’re a acclimated player or only starting your journey in CS:GO, Hellcase offers an seductive avenue to explore the epoch of skins and increase your gameplay.
If you’re in France and looking to dive into the world of CS:GO skins, Hellcase is definitely merit checking out. Objective about to depict responsibly and entertain sport!
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