Popular on Rezul
- Music Producer Debuts Riveting Miniseries About a Pro Football Superstar Embroiled in Physical Assault Scandal
- The "Courtyard by Marriott Tokyo Ginza Hotel" has Renewed its Contract with Tobu Hotel Management
- Vision One Research Appoints Casinelli
- Klozers Bolsters Leadership Team with Appointment of Marc Smit as General Manager to Drive Expansion
- Certified Nutraceuticals Granted US Patent for Novel Method of Freeze-Drying Jellyfish Collagen
- Renowned Addiction Expert and Traumatologist Releases New Book on Addiction, Trauma, and Families
- Welcome Our Newest Client Periodontist: Raymond L. Wright Jr. DDS, Bing + Google Searches List 'BEST' in San Clemente & South Orange County, CA
- Cravens Logistics Center leases 249,370 square foot Class A distribution building with two tena
- Blue Brick Title and Escrow: A Revolutionary Approach to Title Insurance Combining Tradition with Modern Technology
- L.A.I. Communications Wins Prestigious Platinum MarCom Award for Excellence in Marketing and Communications
Similar on Rezul
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- Green Office Partner Launches Managed Print Services Program in Canada
- Vantiva Confirms its Strong Commitment to Diversity, Equity and Inclusion
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- SalonInteractive Launches in Square App Marketplace to Provide eCommerce, Marketing & More to Beauty Professionals
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Dominating Business Intelligence: Informer Tops the BI & Analytics Survey for the Fourth Time
- Advcash adds instant Pix payments in Brazil
Bitcoin in Unique Leadership Position with Ethereum's Abandonment of Proof of Work*
Rezul News/10607891
The Ninth Edition of the CryptoSuper500 Report Evaluates Crypto Winter as Annual Economic Value of Proof of Work Supercomputing Drops to Under $7B
MENLO PARK, Calif. - Rezul -- OrionX Research today released the ninth edition of its CryptoSuper500 list. The list, now four years old, recognizes cryptocurrency mining as a form of supercomputing application, tracks the top mining pools, and offers a snapshot of the cryptocurrency industry. CryptoSuper500 was developed by Dr. Stephen Perrenod, OrionX Partner and noted Crypto Analyst who has also created a top-ranking Bitcoin evaluation model and elucidated the concept of the "blockchain calendar".
With Ethereum's change in consensus algorithm in September, away from the security-first proof-of-work for token creation to the transaction speed-first proof-of-stake, and the current crypto winter in prices, cryptocurrency mining pools produced at a rate of less than $7B annual economic value (AEV), down from over $42 billion a year ago. The list is now completely dominated by Bitcoin, showing an AEV of $5.8 billion, down from $20 billion one year ago. Dogecoin is the new #2, but is much smaller in generated annual economic value than Bitcoin due to a more inflationary money supply algorithm, and lower security as measured by deployed hash-rate, a measure of the rate at which cryptographic puzzles are solved by supercomputing resources.
More on Rezul News
"Trends to watch going forward include faster and more energy-efficient mining hardware including some mining rigs that have liquid cooling, the continued dominance of the North American mining industry with public companies as major players, and the trend of increasingly green electricity and even carbon neutrality goals for the industry," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "We expect some consolidation in the publicly traded crypto miners, unless prices rise quickly from here, and see continued volatility, as well as promise in select cases, in the cryptocurrency industry."
Bitcoin's security relies on a specialized form of supercomputing that employs several million ASIC mining 'rigs', with many different owners, working around the globe in a synchronized competitive race, repeated every block (about 10 minutes' worth of transactions). They execute the same open-source software, and encode value and transactions onto a shared but decentralized and publicly auditable blockchain. Such mining rigs are powered by custom Application Specific Integrated Circuits (ASICs) in Bitcoin's case, while other proof-of-work cryptos use ASICs or hardware accelerators such as (Graphic Processing Unit) GPU chips.
Bitcoin's electricity consumption is estimated to be approximately 0.5% of the global electricity use according to the University of Cambridge's Centre for Alternative Finance. Unlike most electricity, it is used for production, not consumption. Bitcoin can be viewed as energy that is securely encapsulated as highly secured information, held as long-term value in the Internet.
More on Rezul News
Cryptocurrency technologies include blockchains, consensus algorithms, utility and security tokens and the technologies and applications that support them. These include digital wallets, exchanges, non-fungible tokens (NFT), and decentralized finance applications (DeFi). Cryptocurrency mining is a specialized domain of decentralized high performance computing (HPC).
There are now some 21,000 cryptocurrencies, up from 13,000 a year ago. Only a very small minority use supercomputing levels of resources. Most others will struggle to break away and are expected to be niche players or nearly worthless in the long run.
The full list with additional explanation is available at OrionX.net/research.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
With Ethereum's change in consensus algorithm in September, away from the security-first proof-of-work for token creation to the transaction speed-first proof-of-stake, and the current crypto winter in prices, cryptocurrency mining pools produced at a rate of less than $7B annual economic value (AEV), down from over $42 billion a year ago. The list is now completely dominated by Bitcoin, showing an AEV of $5.8 billion, down from $20 billion one year ago. Dogecoin is the new #2, but is much smaller in generated annual economic value than Bitcoin due to a more inflationary money supply algorithm, and lower security as measured by deployed hash-rate, a measure of the rate at which cryptographic puzzles are solved by supercomputing resources.
More on Rezul News
- Kingston NY-Based Ryan & Ryan Kicks Off its 65th Anniversary Dec. 6 by Underwriting a Chamber of Commerce Mixer Saluting RUPCO
- Kuester Management Group Reflects on Options for Accommodating Electric Vehicles in HOAs
- Tobu Railway's Hosts "Tokyo Downtown Tour: Bamboo Lighting."
- "Street Fighterâ„¢ 6" Panel Announced for December 2nd at Los Angeles Comic Con; The Music of Street Fighter 6: A Special Look at the Video Game
- North America's Agrivoltaics Expo Set to Level Up the Solar Land Use Renaissance Next Summer in Chicago
"Trends to watch going forward include faster and more energy-efficient mining hardware including some mining rigs that have liquid cooling, the continued dominance of the North American mining industry with public companies as major players, and the trend of increasingly green electricity and even carbon neutrality goals for the industry," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "We expect some consolidation in the publicly traded crypto miners, unless prices rise quickly from here, and see continued volatility, as well as promise in select cases, in the cryptocurrency industry."
Bitcoin's security relies on a specialized form of supercomputing that employs several million ASIC mining 'rigs', with many different owners, working around the globe in a synchronized competitive race, repeated every block (about 10 minutes' worth of transactions). They execute the same open-source software, and encode value and transactions onto a shared but decentralized and publicly auditable blockchain. Such mining rigs are powered by custom Application Specific Integrated Circuits (ASICs) in Bitcoin's case, while other proof-of-work cryptos use ASICs or hardware accelerators such as (Graphic Processing Unit) GPU chips.
Bitcoin's electricity consumption is estimated to be approximately 0.5% of the global electricity use according to the University of Cambridge's Centre for Alternative Finance. Unlike most electricity, it is used for production, not consumption. Bitcoin can be viewed as energy that is securely encapsulated as highly secured information, held as long-term value in the Internet.
More on Rezul News
- Titan Pressure Washing Demonstrates the Difference Between a Pressure Wash and a Soft Wash on Tile Roofs
- National Minority Health Association Launches "Equity for All."
- Green Office Partner Launches Managed Print Services Program in Canada
- Lake Lanier Living in Stunning Modern Farmhouse Design from O'Dwyer Homes at Chattahoochee Res
- Vantiva Confirms its Strong Commitment to Diversity, Equity and Inclusion
Cryptocurrency technologies include blockchains, consensus algorithms, utility and security tokens and the technologies and applications that support them. These include digital wallets, exchanges, non-fungible tokens (NFT), and decentralized finance applications (DeFi). Cryptocurrency mining is a specialized domain of decentralized high performance computing (HPC).
There are now some 21,000 cryptocurrencies, up from 13,000 a year ago. Only a very small minority use supercomputing levels of resources. Most others will struggle to break away and are expected to be niche players or nearly worthless in the long run.
The full list with additional explanation is available at OrionX.net/research.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
Source: OrionX.net
0 Comments
Latest on Rezul News
- Advcash adds instant Pix payments in Brazil
- Floris United Methodist Church announces first-ever mission trip for people with disabilities
- Sip Social Co. Partners With Omnify To Streamline User Experience Across Growing Operations
- Fred Nassiri Relaunches "Love Sees No Colour"
- Navigating Market Trends: Expert Insights for Investors
- David Weekley Homes Delivered a Holiday Bounty to Georgia's Making A Way Housing
- The Samuel Lawrence Foundation Presents Live from Dubai: First Friday Series Webinar on Dec 1
- Wohler makes the Evertz Quartz Protocol available for their iAM-SUM audio monitors & iVAM-SUM AV monitors
- Genuine Hospitality, LLC Adds Two, Southwest Florida Hotels, to Growing Portfolio
- The CPSE Shenzhen 2023 was inaugurated on October
- Bill Edwards Foundation for the Arts and Ericka Dunlap Collaborate with Local Nonprofits to Celebrate Diversity at Mahaffey
- New York Young Republican Club Endorses Allen Mashburn For Lieutenant Governor Of North Carolina
- Diane Gray-Smith Joins STS Capital Partners
- Harbor Associates/Evergen Equity Acquire Los Angeles Industrial RE Portfolio for $55 Million
- Event Raises $54,825 for HBA DOC Scholarship Program
- PMUniversity Now Offers Emerging Tech Training As An Authorized Training Partner With Certnexus
- San Diego-based life sciences company buys Dunedin industrial property for $3.9 million
- Woburn Dentistry Provides Comprehensive Perio Procedures From One Convenient Location
- Celebrating 25 Year of Being Wright
- Historic Worcester Quarry Property in Prospect, Maine, Listed for $2.3 Million