Covering the technology, people, and culture of the cryptocurrency and blockchain world

Must-reads for Nov. 5, 2018: EOS is BS, ETH may go POS, and WEF touts BCH

These are the crypto stories you should be following today

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Dead trees, living crypto stories (via Pixabay)

Interview: Researcher Argues EOS isn’t a Blockchain — Just a Distributed Database (CCN)
A paper by Whiteblock, a blockchain testing firm, has come down hard on EOS, the controversial protocol started by Block.one (helmed by none other than Brock Pierce). “EOS is not a blockchain, rather a distributed homogeneous database management system, a clear distinction in that their transactions are not cryptographically validated,” Whiteblock said. CCN interviewed Whiteblock’s CTO, Zak Cole, about their findings.

 

Bitcoin is 10 years old: This is how it began and where it’s headed (World Economic Forum)
One of the most bitterly debated topics in crypto is Bitcoin Cash. That makes this particular post provocative; Jack Rogers writes, “There is, however, only one existing blockchain that is consistent with Nakamoto’s vision: Bitcoin Cash, a so-called “hard-fork” of Bitcoin that generally shares the same history and protocol, except for two crucial details. The blocks on its chain are a massive 32-times larger than the original Bitcoin, and growing. More transactions per block, means lower fees per transaction, paving the way for global adoption. Plus, built-in codes that were switched off in the original Bitcoin, have been reignited, potentially allowing all the smart contract capabilities of Ethereum.” Needless to say, it has gotten Twitter all in a tizzy.

 

Ethereum Price Jumps On Major Bank Approval And Approaching Proof-Of-Stake (Forbes)
Prices in ether shot up this weekend when it Ethereum’s cofounder Vitalik Buterin indicated the network could soon switch to “proof-of-stake” from “proof-of-work,” according to Billy Bambrough, who writes,” Ethereum currently handles around 15 transactions per second, but this could be increased many fold under proof-of-stake.”

 

Ethereum Energy Project Now Powers 700 Households in 10 Cities (CoinDesk)
An Ethereum project called Lition bypasses the middleman and connects energy producers with users. And despite the benefits of being on the blockchain, there are drawbacks to using Ethereum, according to the company’s CEO.

 

 

 

 

 

 

 

 

 

 

 

 

 

Lawrence Lewitinn, CFA is editor in chief of Modern Consensus. Disclosure: Lewitinn owns no cryptocurrencies in his portfolio.

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