🤥 Myth Of PoS

The Environmental Myth Of Proof Of Stake
By Level39

While most of Ethereum's devotees celebrate the protocol change from proof-of-work (PoW) to proof-of-stake (PoS) those that really understand the true difference between PoW and PoS warn about the terrible implications that such a change can have to the most successful alternative cryptocurrency and, indirectly, to Bitcoin too.

Although it is true that the energy usage of a PoS system is lower, the inefficiency of the system makes it consume much more energy indirectly and it ends up being way more harmful for the environment.  

Proof-of-work uses energy-intensive machines that frees people in traditional finance to do more productive things for society. Proof-of-stake obscures the energy purchases made by the people that enable its validating. It is a classical form of governance that has been used for centuries and that requires more humans working to ensure compliance, maintain control and leads to increased fees.

🇸🇻 Is Bukele Good?

Should Bitcoiners Support Nayib Bukele’s Attempt At Re-Election?
By Jaime Garcia

El Salvador made history on September 7, 2021, becoming the first nation state to adopt Bitcoin as legal tender. All thanks to the efforts of Nayib Bukele, the current president of the country and a well known Bitcoin supporter. Bukele understands that to regain economic sovereignty, it is absolutely necessary to decrease the dependency on the United States and its inflationary currency. The president knows that Bitcoin is the perfect tool to achieve that. 

Bukele is once again under the lens of mainstream media and critics because of his announcement of planning to run as candidate for the presidency in the 2024 elections. While many of his detractors, critics and international news organizations immediately condemned his decision to run for a second term as illegal and unconstitutional, under El Savador’s constitution, doing so is actually allowed if certain characteristics are met properly.

📰 THE DAILY BITS

Validating Lightning Signer Separates Keys From Nodes
By Marty Bent

The Lightning Network has been at the top of mind for everyone as a Layer 2 solution for Bitcoin to achieve scaling for mainstream adoption. Up until this moment, it has been criticized as having a central point of failure, since the nodes have a need for uptime and the keys are normally stored in the physical device, making it a hot wallet.

Finally this might be about to change. Sphinx team shared their new Lightning innovation by constructing a node leveraging Core Lightning and the Validating Lightning Signer architecture, which separates the keys from the Lightning node using a dedicated signing device. With this new feature, users would be able to run their nodes in the cloud, without having the risk of losing access to their bitcoin, even if the hosting server goes off.

MEME OF THE DAY 

By DingDong