News for hackers. Stuff that matters.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by haddr on Saturday April 29, 2017 @06:00PM (#14229005)
I wonder how they justify the use of proof of work to maintain consensus. Wouldn't it consume a significant amount of the electricity generated by those solar panels?
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by SirensOfTitan on Saturday April 29, 2017 @06:08PM (#14229035)
Proof of stake (PoS) is certainly the future for consensus. Ethereum has a built-in proof-of-work difficulty ramp up already started (a time bomb) and has had plans to move to PoS since the beginning.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by skybrian on Saturday April 29, 2017 @06:17PM (#14229070)
I'm guessing there's wasted electricity that solar panels generate at inconvenient times? If the power is "free" (not being used for anything else) at least they can mine Bitcoins.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by sanswork on Saturday April 29, 2017 @06:25PM (#14229107)
Bitcoin miners fall behind the curve fast enough that if you aren't running them full time with cheap electricity you are losing money.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by scott_ci on Saturday April 29, 2017 @06:04PM (#14229023)
the plan for ethereum is to switch to proof-of-stake, but that has definitely not been figured out yet. I could also see a more private blockchain supporting stuff like this. Maybe it's not open to anonymous participants, but is still more distributed than a single company.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by SirensOfTitan on Saturday April 29, 2017 @06:13PM (#14229060)
I find movement to PoS perhaps the most important milestone toward large scale adoption of Ethereum or any cryptocurrency-related technology. PoW just isn't feasible for large scale deployment: way too much energy is wasted for consensus.
Re:Germany's Energy Giant Launches Ethereum-Based Electric C... by Moshe_Silnorin on Saturday April 29, 2017 @08:43PM (#14229605)
Ethereum burns ~1 million dollars of electricity per day. But they seem to be on the way to moving to POS.