Bitcoin Surges, Fueling Bull Run Hopes!
It’s been a wild week for Bitcoin, smashing through $84K and surging 24% in just 7 days! . Bitcoin, at $1.16 trillion, is now the ninth-largest financial asset by market capitalization. Meanwhile, and correlated, the Fear and Greed Index has reached 79 points, the same level as 7 months ago. Almost all the top 100 crypto assets in CoinMarketCap are showing a positive performance compared to the last 7 days.
Why It Matters This alignment of political and market forces could mean major shifts in the crypto landscape. Regulatory clarity may soon improve, potentially attracting new institutional investments and pushing the industry forward.
This Week in Tokens: The Numbers You Need to Know
Looking beyond PoS and PoW
While Proof of Work (PoW) and Proof of Stake (PoS) are the most widely accepted network consensus mechanisms, a new wave is emerging, each trying to solve the blockchain trilemma of security, decentralization and scalability in innovative ways.
Proof of History (PoH) is a network mechanism pioneered by Solana that creates a historical record that essentially proves the existence of data, in this case transactions, at a specific time. Alongside PoS verification, a “verifiable delay function” (VDF) is used to timestamp valid transactions on the blockchain.?
Delegated Proof of Stake (DPoS) is an iteration of the PoS mechanism that gives network users the ability to vote and elect selected delegates, known as witnesses, to validate the next block. The delegates are voted for by pooling tokens into a staking pool and linking those to a particular delegate without the need to transfer the tokens. DPos is seen as a more democratic approach to network consensus through its delegation structures.
Finally, Proof of Space and Time (PoST) requires validators to prove they're dedicating storage space over time. Instead of consuming energy like PoW or locking up tokens to validate transactions like PoS, hard drive space is being allocated for future transactions.
With the technology evolving, hybrid mechanisms that combine multiple approaches are becoming increasingly popular. However, the key challenge these new mechanisms face isn't just technical – it's building enough trust and proven security to be adopted by major networks.
Tokens we’re watching?
Here’s two tokens using more modern consensus mechanisms in the crypto space today.
SOL
Solana combines PoH and PoS technology to provide near-instant transaction finality and improved scalability over traditional consensus mechanisms. Solana remains one of the most popular blockchains thanks to its burgeoning DeFi space and instant access to meme coins. See SOL in the app ??
TRX
TRON runs on a Delegated Proof of Stake (DPoS) model that offers zero-fee transactions and more democratic network governance through the use of “Super Representatives” that are voted in by TRX holders. Learn more about TRX in the app.
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This Week on Air ???
The CEO of Lukso, Fabian Vogelsteller, joins the Pump Fiction Podcast to explore the origins of Lukso and the future of Web3.?
Fabian shares his insights on the crypto space, the challenges of building in Web3, and his vision for the evolution of cryptocurrency. Watch the full episode below ??
NFT art we love?
Grant Yun is a digital artist incorporating unique styles and minimalism into landscapes and architecture. ‘Sunrise City Blues’ combines Yun’s love for 70s/80s science fiction with a fascination for unique patterns heavily used in mid century modern art styles.?
Sunrise City Blues by Grant Yun (Source: Deca.art)
Snackable shorts?