The complementary nature of Bitcoin and proof-of-stake creates a synergy that can be very beneficial.
In Brief
Researchers from Stanford University discovered that the security features of Bitcoin are intrinsically tied to those of proof-of-stake protocols.
A Stanford University professor said According to a research team, they've identified a unique security characteristic connecting Bitcoin with proof-of-stake protocols.
During the 2023 Bitcoin Builders conference in Miami, Professor David Tsê from Stanford shared insights on his groundbreaking research illustrating how proof of stake (PoS) can act as a complement to Bitcoin within the vast blockchain ecosystem.
At Stanford University's blockchain research lab, faculty are diving into the workings of Bitcoin's proof-of-work (PoW) system. They started with a solid understanding of PoW before examining its partnership potential with PoS protocols, highlighting a remarkable synergy they found.
To bolster the overall security of the blockchain, researchers suggest implementing additional protocols that merge Bitcoin’s security with that of PoS. Tsê pointed out that PoS relies heavily on its stake; without sufficient capital, achieving security becomes a challenge.
The professor emphasized that PoS could offer enhanced security over Bitcoin because its security model is short-range, in contrast to Bitcoin's long-range security, suggesting they complement each other perfectly.
He envisions a future where building decentralized applications is more streamlined: instead of fragments of capital competing, developers could draw from the vast capital pool of Bitcoin to secure various chains. By doing so, they could focus on development rather than accumulating funds for security.
Ordinals on Bitcoin
What sets Ordinals apart in the Bitcoin ecosystem, as opposed to other blockchain platforms, is their foundation on what is considered the most secure blockchain globally. Ordinals .
The introduction of Bitcoin NFTs has sparked both excitement and skepticism since their emergence just a few months ago: while some experts argue they may fade away, others believe they are here to stay. Interestingly, on May 9, Binance’s NFT marketplace embraced Bitcoin NFTs.
- With the launch of Ordinal Punks, a collection of 100 algorithmically generated derivative PFPs of CryptoPunks, opinions in the Bitcoin community have grown divisive over whether or not these jpegs have any place within the Bitcoin blockchain. Some enthusiasts have raised concerns. bringing Critics of Bitcoin NFTs argue that they contradict the original purpose of the blockchain, which is centered around financial transactions. However, others view this new application as a positive innovation.
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