BC CRYPTO
Saved by @Shubham51ngh

"Blockchain technology is energy-intensive..." => No, it doesn't have to be.

Let's look at Proof-Of-Stake, an alternative to the energy-intensive Proof-Of-Work algorithm.

🧵🔽

 1️⃣ A Quick Recap On Proof-Of-Work

A Proof-Of-Work algorithm requires miners to do a certain amount of work that is compute-intensive to gain access to a service or the right to do something. This algorithm, by design, also requires that the work done shall not ...
... be reusable for anything else than what it was performed for. This lies at the core of the security concept of a blockchain. To gain the right to append a new block to a chain and to get some currency as a reward, there is work to be done, and this work must be verifyable.
That work is a race between different miners. Many miners try to compete and to be the first to find the answer to a problem presented to them. This implies that a lot of energy is wasted as only the first correct solution is accepted.
You can find a more detailed thread on Proof-Of-Work here:

https://t.co/VGzmmbMisE
2️⃣ Enter Proof-Of-Stake

Proof-Of-Stake is another algorithm, designed to create distributed consensus on a blockchain while being less energy-intensive and more scalable than Proof-Of-Work.
The first mention (I know of) of Proof-Of-Stake dates back to 2011 when it was discussed on the Bitcointalk forums.

While having the same goal as Proof-Of-Work, distributed consensus, the process is completely different.
3️⃣ How It Works

A Blockchain that uses Proof-Of-Stake chooses a node to create and append the next block randomly. This process of appending a new block to the chain is usually called "forging" and not "mining".
To be eligible to be chosen, nodes must stake some of the chain's cryptocurrency. This means that a certain amount of coins is locked away and can't be accessed for as long as the node wants to act as a forger.
If a new block is to be appended to the chain, the network randomly chooses between all nodes that have staked at least the minimum amount of coins required. This draft is usually weighted which could mean that the node with the largest amount staked has the ...
... highest chance to be chosen. To compensate this, blockchains usually take other factors into account like the age of the node's stake.

Whenever a node is chosen to forge a new block, the stake's age is reset to zero to distribute forging among all nodes ...
... a little more equal.

There are many other factors that can be taken into account and they are usually as individual as the blockchain using Proof-Of-Stake. Taking a look at the specific blockchain's whitepaper usually helps you to decide whether the chain is legit ...
... and it is worth setting up a forging node for it or if it's not working in everyone else's favor.

When chosen, a forging node checks whether all transactions for the next block are valid. It then signs the block and appends it to the chain.
The stake of a forging node is always at risk. If a node harmfully tries to insert manipulated blocks into the chain and the network notices, it loses its stake and is banned from ever participating in the forging process again.
This is to ensure that all parties involved in the forging process play by the rules as there is a lot of money at risk when they commit a fraud.
A forging node that wants to exit the forging process usually needs to wait for some time until its stake is released. This time is used to recheck all the blocks it ever forged. This is the last time a potential fraud can be detected.
Only after the check completed successfully, the stake is released and can be transferred again.
4️⃣ That's It

Well, we are at the end of this thread, and I hope you now understand Proof-Of-Stake, the alternative to the energy-intensive Proof-Of-Work a little better.
If you enjoy threads like this one, drop a like, comment with you feedback, and follow me if you want more content like this. Your support is highly appreciated!
5️⃣ A Small Addition

Forging nodes are also often called validators. The process is still called forging but validators validate transactions which is where this name comes from.

More from Crypto

//Bitcoin \U0001d575ack \U0001f410
//Bitcoin 𝕵ack 🐐...
@BTC_JackSparrow
Slow and steady wins the race

Bitcoin is often critized for being slow in everything

But here is the thing: the more you complicate a design early on, the more you push it down a specific road

Get your assumptions wrong, and it's off-road

Thread/
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Blake Burge \U0001f4a1
Blake Burge 💡
@blakeaburge
Think crypto is confusing?

You're right.

Let's make it easier.

Here's Crypto Terminology 101: 🧵

Altcoin:

Any coin that's not #Bitcoin

Ether (#ETH) is the second most popular coin overall and the most well-known Altcoin.

Ether is the native cryptocurrency on the Ethereum blockchain.

There are thousands of other altcoins, but for now, this is the one to know.

Bitcoin: (#BTC)

The first decentralized digital currency.

Launched in 2009 by an unknown person or organization known only as "Satoshi Nakamoto."

It is the most famous, and most valuable cryptocurrency.

Blockchain:

The core tech behind Bitcoin and most other cryptocurrencies.

An open, distributed, general ledger where transactions are organized into blocks which are then connected using cryptography.

Coin:

A store of digital value that lives on a blockchain.

Some blockchains, such as Bitcoin, use the same name for both the network and the coin.

Stable coins are another type of cryptocurrency which are backed by fiat currency (e.g the US dollar) or commodities such as Gold.
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CryptoKnowledge
@mawdudchoudhury
$BTC & $USDT & the criminal cartels that pump the prices of BTC while laundering out real fiat profits through their exchange partners. While tax evasion & general financial malfeasance is problematic enough, one has to wonder what else is occurring with the laundered funds ..1/

Despite the romantic, libertarian view of Bitcoin subverting the oppression of the centralized fiat economy, in reality, the backers were also engaging in drug smuggling, assassination markets & human trafficking. 2/

While some of Bitcoin’s ideology of civil disobedience & the hope of building a shining new economy upon the distributed ledger was exciting for a time, the Bitcoin Civil War side-tracked the project heavily. 3/

Once Dread Pirate Roberts and The Silk Road was closed down, nastier websites emerged, and so too did some of the shadiest venture capitalists in the world — necessitating the split of the Bitcoin protocol away from the BTC economy in 2017. But this requires some context. 4/

Unfortunately, in the era spanning 2014-2016, venture capitalists created media entities such as CoinDesk & Cointelegraph, development groups such as Blockstream & MIT Digital Currency Initiative, exchanges like Coinbase & Bitfinex, 5/
CRYPTO
Daan Crypto Trades #NFT
Daan Crypto Trades #NF...
@DaanCrypto
NFT Crypto Guide 101 📚

🔹What are Non-Fungible-Tokens?
🔹What are NFTs used for?
🔹What do I expect for the NFT space in 2021?
🔹What NFTs do i hold?
🔹Where do I buy NFTs?

I will go through all of these questions.

Thread below 👇

🔹What are Non-Fungible-Tokens (NFTs)?

NFTs are crypto tokens that represent something unique. They are not mutually interchangeable.

This means that one NFT is not the same as the other.

Unlike for example Bitcoin, where each satoshi is exactly the same as the other.

These NFTs exist on the Ethereum Blockchain. Instead of ERC-20 tokens, we call these NFTs: ERC-721 or ERC-1155 tokens.


Each of these NFTs have an unique ID that seperates them.

For example, The Hashmask with ID #6718 is completely different than the Hashmask with ID #9939.

Different visually as well as the ID on the blockchain.


🔹What are NFTs used for?

NFTs are used to create verifiable digital scarcity and digital ownership.

The main applications we see today are:

🔹Digital Art
🔹Collectibles
🔹Games
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Trolly McTrollface
Trolly McTrollface
@Tr0llyTr0llFace
On the importance of leverage for the crypto ecosystem.
A long time ago, BNP Paribas bought a retail forex exchange, because they thought they'd get an insight into forex trading flows and positions. What they quickly discovered, is that the website was a muppet slaughterhouse.


People would get stopped out ALL THE TIME because they used too much leverage. Over 90% of them lost money in a consistent way. Those are worse than even casino odds.
That's why around 2005, you had so many forex trading websites popping up. They would offer up to 500x leverage.

The higher the leverage, the better (for the website).
This became such a huge trend that regulators stepped in, and introduced maximum leverage rules. Something like x30 for forex, if I remember correctly. All of a sudden, all the ads and Premier League sponsorships vanished.

Forex gambling is still around, but not nearly as profitable, because it takes time for people to lose their money with a pitiful x30 leverage. Currencies usually don't move by 3% in a day. It can take weeks for an amateur trader to lose it all. Plus the adrenaline rush is gone.

Enter crypto.
It's hard to explain how one-sided leveraged crypto trading is. Traders don't stand a chance. With currencies, you could expect to extract SOME money from real world flows. In crypto, there are no real world flows. It's just traders against traders against insiders.
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अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

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Sri Mridanga Saileswari Temple Muzhakkunnu, Kannur KERALA

The temple is established by Parasurama and it is one among 108 Durga temples.
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It is the family diety of Kerala Varma Pazhassi Raja.
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Legend...👇
Once a Mridungam ( musical instrument) shaped rock fell from heaven here.
@SriramKannan77


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KrishnaLeela
KrishnaLeela
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🌿𝑻𝒉𝒆 𝒔𝒕𝒐𝒓𝒚 𝒐𝒇 𝒂 𝑺𝒕𝒂𝒓 : 𝑫𝒉𝒓𝒖𝒗𝒂 & 𝑽𝒊𝒔𝒉𝒏𝒖

Once upon a time there was a Raja named Uttānapāda born of Svayambhuva Manu,1st man on earth.He had 2 beautiful wives - Suniti & Suruchi & two sons were born of them Dhruva & Uttama respectively.
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Now Suniti was the daughter of a tribal chief while Suruchi was the daughter of a rich king. Hence Suruchi was always favored the most by Raja while Suniti was ignored. But while Suniti was gentle & kind hearted by nature Suruchi was venomous inside.
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#OurFavOnlineDoc \U0001fa7a\U0001f1f3\U0001f1ec\U0001f1ec\U0001f1e7\U0001f48e
#OurFavOnlineDoc 🩺🇳🇬🇬🇧...
@DrOlufunmilayo
HELLO: If you pee and every time you finish, your urine looks like this picture, you may have a serious medical illness.

Foamy urine especially if it is persistent and noticeable over time may mean you have a serious kidney problem.

Let’s talk about this today...
RT for others.


What are the features of a normal urine?

A normal urine should have a light yellow colour, painless, odourless (or faint smell), steady stream and should ideally not foam when you pee.

When there’s something wrong, then you see changes in all the above normal features of urine.

For instance if urine becomes very deep yellow, it may mean you are dehydrated;

If urine becomes painful or smells really really bad, it may mean you have an infection;

If urine has a poor stream, especially in a man, it may mean a prostate problem like cancer.

Do you get me?

So today let’s talk about Foamy Urine.

What are the things that can cause urine to suddenly be foamy. As I said in the first tweet, it MAY mean a serious medical illness like a serious kidney problem.

First things first- it does NOT always mean a problem but it may as well.

Now what are the causes of Foamy Urine:

1. SPEED-
If you pee really fast or with a lot of force, it may make your urine more foamy than usual. The speed and force makes the urine generate a lot of bubbles which tend to almost quickly disappear as it is formed in the toilet bowl.
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foone
foone
@Foone
It is 2018 and this error message is a mistake from 1974.
This limitation, which is still found in the very latest Windows 10, dates back to BEFORE STAR WARS. This bug is as old as Watergate.


When this was developed, nothing had UPC codes yet because they'd just been invented.
Back when this mistake was made, There was only one Phone Company, because they hadn't been broken up yet. Ted Bundy was still on the loose. Babe Ruth's home run record was about to fall.

When this bug was developed, Wheel of Fortune hadn't yet aired. No one had seen Rocky Horror. Steven Spielberg was still a little-known directory of TV films and one box-office disappointment. SNL hadn't aired yet. The Edmund Fitzgerald was still hauling iron ore.

WHEN THIS STUPID MISFEATURE WAS INVENTED, THE GODFATHER PART II HAD JUST OPENED IN THEATERS.

So, why does this happen? So Unix (which was only 5 years old at this point) had the good idea of "everything is a file" which mean you could do things like write to sockets, pipes, the console, etc with the same commands and instructions.
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