Blockchain in the Cloud - A Greener Future for Blockchain Developers (Part 1)
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
The blockchain has the capability to change the future of the entire internet. A financial system is just the first stage of the revolution, but the potential of the technology travels much further beyond financial transfer. This is the first in a three-part series highlighting the future capabilities of blockchain technology.
“It’s an alarming thought, but in some cases, blockchain mining operations use enough energy to power entire cities.” - Omar Abi Issa
As the industry evolves, blockchain providers are obliged to build solutions with massively reduced carbon footprints. This shift may help providers achieve sustainability goals and meet more stringent regulations that are likely to be introduced. By utilizing emerging mechanisms for verifying blockchain transactions – such as Proof of Stake (PoS) validation protocols – businesses can greatly reduce their CPU/GPU usage and energy consumption.
One of the most popular use cases for blockchain technologies is decentralized applications (Dapps). The front-end facing applications create a smart contract (transaction), which then must be verified. If the verification process is successful, it gets added to the transaction block. A transaction can only be added to the chain when a set of criteria is met. The verification process depends on the protocol sourcing the network.
In a network operating PoW protocol, the transactions are validated by a mining node. The verifying nodes that operate in a PoW-based network are solving a mathematical problem. They mostly use the computing power of a GPU or CPU to solve these problems. Very often, mining nodes use 100% of the available
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