Just this week Ethereum shrugged off a serious security issue with Parity wallets the SEC started to crack down on bounty programs for Initial Coin Os- munchee coin?, the folks we talked to in episode 7 paused their ICO… Segwit2x was called off and the price of bitcoin hit an all time high Man this happens fast.
We hear a lot about the transformational potential of the blockchain, but so much of the hype is driven by greed— getting rich— nothing against that, but it's refreshing to get a guest who's focused on impact.
Get out your crayons, we got some coloring to do.
Today Ryan Flint tells us about Kilowatt Hour Coin. According to him, the amount of electricity needed to computer process all of this cryptocurrency could power a small country. Thats a lot of electricity, and if the blockchain is to live up to the hype— its got to be more efficient.
We get into the difference between proof of work, proof of stake, and then proof of cooperation. In the first few minutes we cover mining, GPUs, ASIC chips…. IF this is your first time listening— or are at all new to crypto please listen to episode 8 first or even better start at the beginning of coloring crypto Ryan is working with Kilowatt Hour Coin, could this be a solution to the crypto energy conundrum? To understand, we start by talking about the hardware required to mine cryptocurrency,
Show notes
2:00 Energy conundrum with crypto mining. What is the mining inefficiency? 4:30 Creating coins - proof of work vs proof of stake. GPU — ASIC chips, mining pools
6:55 Nodal networks Proof of cooperation - for nodes Raspberry Pi 7:30 A brief history of mining GPU, ASIC chips, mining pools 8:30 cyptonight can't run on ASIC chips Crypto night - Not possible
9:00 If satoshi could have seen 10 years into the future would he have written the algorithm differently— knowing how centralized and heavy the mining process would become?
10:00 proof of stake vs. proof of work
11:00 examples of coins that have gone wrong with proof of stake ETHASH
28:00 Fair coin - proof of cooperation Nodes - network of bunch of nodes - little points Small little server, instead of competing for a puzzle Each node takes a turn and does a transaction
31:00 CO-HEATING Fair coin, just recording The node that gets paid / whoever wins - Pools are more likely to solve it more often ElEctric chain - co - heating - servers
33:30 Steemeet , Graphenene eco system , Open source block chain bitshares
35:00 how do you make a crytpocurrency "stable"
36:30 Steemit as a replacement for Facebook
38:00 waves platform
Links:
Kilowatt Hour Coin http://kwhcoin.com
Solar Coin https://solarcoin.org/en/node/6
Electric Chain http://www.electricchain.org/
Micro-grid http://www.electricchain.org/our-projects/project-13/
Soundcloud lecture https://soundcloud.com/ryenflint/solarcryptocurrencywav
Fair Coin - https://fair-coin.org/
Steem-it https://steemit.com
CryptoNight https://en.bitcoin.it/wiki/CryptoNight
ETHASH https://github.com/ethereum/wiki/wiki/Ethash
GRAPHENE http://docs.bitshares.org/
DEX: decentralized exchange
Waves platform https://wavesplatform.com/
Show notes:
