Revision as of 10:55, 27 October 2022

Introduction: What is Cryptocurrency?

Proposed Benefits of Cryptocurrency

Environmental Impact of Cryptocurrency

Consensus Algorithms

Consensus Algorithms are the basic underpinning of cryptocurrency. They allow users to agree on who owns the currency without a centralized authority or physical token dictating ownership.

The consensus algorithms used by the two largest cryptocurrencies (Bitcoin and Ethereum) are Proof of Work and Proof of Stake. Here we will detail how they work, why they ensure cryptocurrencies can be secure, and how they impact the environment.

Proof of Work

Environmental Impact

Security of Proof of Work Algorithms

Proof of Stake

Environmental Impact

Security of Proof of Stake Algorithms

Tradeoffs of Proof of Work vs. Proof of Stake

Security Tradeoffs

Different Environmental Impacts

Be sure to have data here on Ethereum energy usage before and after the switch to proof of Stake.

Regulatory Issues

Conclusion

Sources

$ \sqrt{2} $ How to type math https://katex.org/docs/supported.html

Sources

https://ethereum.org/en/developers/docs/consensus-mechanisms/pow/
Information on how proof of work works.

https://ethereum.org/en/developers/docs/consensus-mechanisms/pow/mining/
Information on why mining is important for cryptocurrencies.

https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/
Information on how proof of stake works.

https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake
Information on the difference between PoW & PoS

https://bitcoin.org/bitcoin.pdf
Bitcoin whitepaper that started it all