At the beginning of 2018, I wrote an article outlining a New Year’s resolution that I thought could help boost cryptocurrency adoption and awareness in 2018. Last week was the fourth installment of my year of cryptocurrency challenge. This week, between work, fun, friends, and family, I was able to have some pretty neat conversations about cryptocurrency.
This is one of the best parts of this challenge, in my opinion. While I was pretty vocal about cryptocurrency before taking on this challenge, doing so every day has been a pleasure. More people have heard about cryptocurrency (particularly Bitcoin) recently, but few really know what is going on. Here are a few highlights from my week.
I really enjoy this part of the challenge, since it helps me expand my knowledge base. I wanted to keep my streak of learning about new consensus algorithms going. This week I focused on Proof of Activity, a PoS and PoW hybrid. Proof of Activity starts out with PoW mining a block, but blocks are “empty” with only a header (previous hash) and the miner’s reward address being solved for. Then, it switches to PoS, where the header determines which “validators” or “stakers” are chosen (the more coins held increases the chances) to sign off on the block and make it a full, validated block. Fees are split between miners and stakers. This hybrid approach has attached the combined criticism of the two models it fuses (both are potentially expensive and potentially insecure). Decred uses this model.
This week I was unable to spend my crypto for any good or service. However, I did take the opportunity to tip some people over the internet with the sodogetip bot for comments that I enjoyed.
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