Aug 26, 2021

Bitcoin mining is frequently in the news for its energy consumption, and Cardano, one of our favorite blockchain projects, invites a discussion on how cryptocurrencies are created (or “mined”) in the first place. Join Alex & Jacki as they break down proof-of-work and proof-of-stake blockchain protocols and how they are innovating energy sourcing and distribution in different ways.

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Show Notes:
:19 - Cardano introduces smart contracts coming in September and also the Cardano Summit.
:55 - Cardano’s academic project in Ethiopia
1:13 - Charles Hoskinson, founder of Cardano, has a great transparent YouTube channel that often communicates socioeconomic solutions via blockchain.
1:48 - proof-of-stake is a great way for anyone with any amount of money to get started with crypto rewards
2:00 - proof-of-work is super secure, but takes a lot of money and energy to mine and profit from.
2:10 - How does proof-of-work mining secure blockchain networks?
3:00 - How does proof-of-stake do it?
3:35 - The energy issue proof-of-work mining (both ethereum and bitcoin use this protocol)
3:50 - the media puts a lot of noise out there, but mining operations are driving innovation in reusable energy sources & green technologies
4:24 -
4:20 - geothermal, hydroelectric, solar, wind, battery cells, fuel cells, and nuclear fission are all contenders in replacing the coal and fossil fuel industries.
5:11 - Ethereum is moving from proof-of-work to proof-of-stake “Ethereum 2.0”
5:30 - the intense “work” that goes into “proof-of-work” is what secures the network.
6:18 - In proof-of-stake, malicious staking pools or wallets lose all of their stake and are penalized.
6:45 - In order to manipulate the blockchain, you have to manipulate every block that came before it! An insane amount of energy would be needed for this.
7:30 - blockchain ledgers keep a record just like a checkbook going back to the first check
7:39 - blockchain eliminates the issue of “double-spending” and will have a huge impact in the accounting industry.
7:57 - Cardano’s smart contracts introduce token utility.
8:15 - “CarDex” - a decentralized exchange on the Cardano network
8:45 - proof-of-stake is quicker and less expensive than proof-of-work
9:00 - proof-of-stake has a horizontal scalability
9:30 - a lot of staking pools have interactive communities behind them that help users on their passive income journey
9:48 - mass adoption of crypto means scaling at the levels of MasterCard and Visa
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*FREE Webinar* on Blockchain and Cryptocurrency Basics | September 1, 2021
https://bit.ly/3sPaDZB

*Online Event* Cardano and Earning Interest by Staking | September 4, 2021
https://bit.ly/3jhW39V

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