Cryptocurrency Miners May Have to Pay More for Electricity in Chelan County
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Cryptocurrency Miners May Have to Pay More for Electricity in Chelan County
There is little doubt that cryptocurrency mining is extremely power intensive, with particular emphasis on coins that still rely on the Proof-of-Work (PoW) consensus mechanism. Recognizing this, Washington State’s Chelan County Public Utility District (PUD) has proposed a rate hike for mining enterprises within the region. The county is currently awaiting comments to be submitted, before enacting the hike. Chelan…. The post by Rahul Nambiampurath appeared first on , bitcoin, Blockchain & Cryptocurrency News
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Naming systems are an important component of any networked information system. It’s difficult to imagine how the Internet could have been adopted by the masses had it not been for the Domain Name System, which translates machine-readable IP addresses into human-readable domain names. Blockchains, with their long and complex address formats, suffer from a similar problem. One might think a solution would be to apply the same naming system architecture we have for the public Internet to public blockchains. But DNS, in the eyes of many, is a largely flawed system. Centrally controlled by the Internet Corporation for Assigned Names and Numbers (ICANN), Internet domain names are vulnerable to censorship and barriers to entry are kept artificially high ?'” registering a new Top Level Domain (ex: .epicenter) costs hundreds of thousands of dollars.
We’re joined by Alex Van de Sande and Nick Johnson to discuss their approach to creating an open, secure and decentralized naming system for the Ethereum Network. The Ethereum Naming System (ENS) allows users to register .eth domain names, which can be used in supporting Ethereum wallets and clients. Names are reserved by placing a deposit in a smart contract and can be mapped to any Ethereum addresses. So rather than sending funds to 0x8cd…0935, one would simply need to type a memorable name like epicenter.eth into their wallet. Backed by the Ethereum Foundation, ENS will likely become the defacto standard for name registration in Ethereum.
Topics discussed in this episode:
Alex and Nick’s respective backgrounds and roles in the Ethereum Foundation
How the Internet’s Domain Name System works
The problems and pain points with DNS and how it is governed today
What is ENS and what problems it is addressing
The ENS auction system and how names are registered
The different parties involved in ENS
ENS’s technical architecture and governing smart contract
The current governance model of ENS and future plans for increased decentralization of governance
ENS’s economic model and technical roadmap
Links mentioned in this episode:
Sponsors:
Ledger: Smart card security for your Bitcoins – Get 10% off your first order when you use the code EPICENTER –
Jaxx: Wallets that Unify the Blockchain Experience Across Devices –
This episode is also available on :
Watch or listen, Epicenter is available wherever you get your podcasts.
Epicenter is hosted by Brian Fabian Crain, S?ƒbastien Couture & Meher Roy.
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