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Behind High Energy Consumption of Blockchain: PoS Consensus Mechanism To Be A Solution

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The energy consumption of Blockchain

Recently, Elon Musk, the founder of Tesla, posted on Twitter saying that: Bitcoin can consume too much in mining and transaction process, such excessive fossil fuel consumption will result in negative impacts on the ecosystem. The Ethereum co-founder Vitalik Buterin also noticed the high power consumption problem in Blockchain technology. He presented that Ethereum would change its consensus mechanism from PoW to PoS to reduce the power consumption caused by the mining process in PoW-based technologies like the Bitcoin. From a global view, energy consumption issues are concerned by an increasing number of countries. To urge the efficient power usage, many countries and organizations have set up environmental protection plans, such as the UN’s SDG (Sustainable Development Goals) and the US carbon neutrality, etc.

In this context, the future development of a technology need to consider the sustainable development and environmental friendliness as one of the important metrics and goals. As an emerging technology for privacy protection, Blockchain presents excellent protection capabilities. However, such capabilities rely on the large-scale computing resources and result in a large amount of power consumption. Part of the reasons for such high power consumption are due to the PoW (Proof of Work) consensus mechanism which has high demands on the performance of the Blockchain nodes.

Besides energy consumption, other concerns of the consensus mechanism

The technology of the base layer of the Blockchain has the advantages like anonymous, Immutable, decentralized and so on. To achieve these advantages, Blockchain enhances the privacy and protect the transaction process by increasing the cost of network participation. The core concept of the early-stage PoW consensus mechanism is based on the workload cost.  The credibility need to be proved by the cost of a lot of work. In this case, the machines that maintain the ledgers (also referred to as mining nodes) need to continually crack complex math puzzles to obtain Bitcoin as rewards. This computing process not only needs to rely on a large amount of computing resources, but also sacrifices part of the scalability on the Blockchain to ensure safety. When it comes to the boosting growing of transaction volume, this mechanism will not be able to meet high-speed and large-scale processing demands. Based on such limitations of PoW, PoS (Proof of stake) is gaining more and more attention to work as a consensus mechanism with low resource consumption and guaranteed decentralization, safety and scalability.

In a PoS-based Blockchain system, nodes do not have to consume much power to compete for accounting rights. The priority of accounting rights is measured by the amount of stake holdings. In this way, the nodes no longer consume a large amount of electricity to calculate the hash functions, thereby solving the high energy consumption issues in PoW mechanism. In spite of the improved efficiency in PoS, the safety of the mechanism is affected. Therefore, in order to ensure the reliable operation of PoS, the researchers need to develop reliable algorithms from the trade-off among the decentralization, safety and scalability.

Unique advantages of PlatON PoS

With the issues caused by the PoW mechanism has been widely criticized, more and more Blockchain technologies inclined to choose or transit to the PoS-based consensus mechanisms. This results in a boosting growing of the PoS-based Blockchain frameworks in recent years. As the world leader in computing privacy area, PlatON has rooted and researched in privacy computing technologies many years. PlatON’s research and practice in consensus mechanisms are also forward-looking. The PPoS (PlatON PoS) consensus mechanism uses off-chain identity, credit mechanisms and procedural arrangements to provide a scheme to select a number of verification nodes from many participating nodes as fair and randomly as possible. Hence, PPoS can effectively inhibit bribery, collusion, etc., and reduce the consensus cost and improve the system scalability by optimizing technical details. Meanwhile, ensuring the decentralization and scalability, PlatON further enhances the system safety by combining the experiences in computing privacy area. The Alaya network based on PlatON PoS has been operating stably and efficiently for a long time, successfully solving the problem of over-centralization of the system, reducing network communication complexity and message complexity, improving consensus efficiency and the entire Blockchain transaction processing performance. In this case, the safety and liveness of the technology are verified. PlatON has been able to improve its PoS mechanism through its attention to every detail, continuous attempts, active exploration of cutting-edge areas, and forward-looking plans in the future development. Next step, PlatON will continue actively promoting the efficient network operation with high-quality code, providing efficient, high-availability, distributed and sustainable infrastructure applicable for diverse industrial and commercial use cases, and supporting the exchange of data flows in the global world.

References:

1.PlatON has launched the “Rally around the Galaxy” and launched a comprehensive simulation test, https://mp.weixin.qq.com/s/UeIRWj2lKJ7b1umSqU8_yQ

2. [Long Article Explained] What is the Giskard Consensus Mechanism? | Technology Cloud Atlas, https://mp.weixin.qq.com/s/4yHenrGH0E7zzLBuN58BJg

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Press Release

Alta Pest Control Introduces Tailored Residential Pest Control Services in Knoxville, TN

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KNOXVILLE, TN – Alta Pest Control is now offering specialized residential pest control services to homeowners in Knoxville, TN, providing customized and environmentally safe solutions. Understanding that each home has unique pest control needs, Alta presents individualized strategies to effectively tackle these specific requirements.

More Details

In Knoxville, TN, Alta Pest Control’s dedication to personalized solutions stems from acknowledging the diverse pest control challenges that homeowners face. Through comprehensive evaluations of each client’s home environment, Alta Pest Control formulates targeted strategies to address distinct pest issues effectively.

The extensive services offered in Knoxville encompass:

  • Rodent Control
  • Termite Treatment
  • Flea Control
  • Mosquito Control
  • Ant Control
  • Stinging Insects Extermination
  • Spider Extermination and Prevention
  • Cockroach Extermination and Control
  • And many more

These services are fundamental to Alta Pest Control’s mission of delivering long-lasting, effective solutions for a wide range of pest challenges in residential settings. Committed to safety, Alta Pest Control employs non-hazardous chemicals that are potent against pests while remaining safe for humans and pets, reflecting their dedication to responsible and effective service.

Alta Pest Control in Knoxville engages with homeowners to identify specific pest challenges, crafting customized plans to ensure effective and sustainable pest management, tailored perfectly to each household’s needs.

“Homeowners in Knoxville encounter distinctive pest control challenges,” says a spokesperson from Alta Pest Control. “Our commitment is to provide custom-tailored, safe, and effective pest control solutions, ensuring our residential clients in Knoxville receive the most suitable service for their specific situations.”

Alta Pest Control supports the quality of their residential pest control services in Knoxville with a satisfaction guarantee, offering refunds to clients who are not fully satisfied. Homeowners in need of specialized pest management solutions can reach out to Alta Pest Control for an in-depth consultation at https://www.altapestcontrol.com/locations/knoxville-tn-pest-control.

About Alta Pest Control:

Founded in 2013, Alta Pest Control is a family-owned business offering a wide range of pest control services in Knoxville, TN, and surrounding areas. Their services extend to both residential and commercial pest control, tackling issues such as termites, rodents, cockroaches, fleas, and mosquitoes, along with moisture control and attic insulation. Accredited by BBB, Inc 5000, PCT, and Quality Pro, and affiliated with the National Pest Management Association, Alta Pest Control is committed to providing environmentally friendly, safe, and efficient pest management solutions.

Alta Pest Control’s main office is at 101 Sherlake Ln #104, Knoxville, TN 37922, United States.

Media Contact

Name
Alta Pest Control
Contact name
Faith Rock
Contact phone
(307) 209-0956
Contact address
101 Sherlake Ln #104
City
Knoxville
State
TN
Zip
37922
Country
United States
Url
https://www.altapestcontrol.com/

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Press Release

Australian Strategic Materials signs US$600 million LoI

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–News Direct–

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM), joins Jonathan Jackson in the Proactive studio to discuss the company s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth elements, crucial for various high-tech applications. Last week, the project received a significant boost with a Letter of Intent (LoI) for a US$600 million debt funding package from the Export-Import Bank of the United States, adding to a previous A$200 million Letter of Support from Export Finance Australia (EFA). This financial backing underscores the strategic importance of critical minerals and the global interest in securing supplies for future technological and industrial use. The Australian Government's focus on critical minerals reflects a broader international trend towards securing supply chains for essential resources, particularly those pivotal for technological advancements and sustainable development. Furthermore, ASM has contracted Bechtel Mining and Metals, Inc for Front-End Engineering Design (FEED) services. Bechtel will develop the project's engineering design, integrating its extensive experience in constructing large-scale industrial projects, which will enhance the project's feasibility and operational planning. This collaboration and the secured funding are pivotal steps towards completing a comprehensive feasibility study for the Dubbo Project, setting the stage for its development and operational phases.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

[email protected]

View source version on newsdirect.com: https://newsdirect.com/news/australian-strategic-materials-signs-us-600-million-loi-794990750

Australian Strategic Materials Ltd

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Press Release

Alta Pest Control Provides Instant Beetle Control Estimates at No Charge in Spokane Valley, WA

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SPOKANE VALLEY, WA – Alta Pest Control, a pest control service provider, is offering instant, no-charge estimates for beetle control in Spokane Valley. This initiative is part of Alta Pest Control’s commitment to delivering effective pest management solutions, aimed at addressing the escalating issue of beetle infestations in the community.

Alta Pest Control’s strategy for residents of Spokane Valley encompasses a detailed and thorough approach to beetle control. This service includes an initial inspection by experienced technicians adept at identifying signs of beetle activity. With this no-charge estimate service available all year round, Spokane Valley residents have continuous access to crucial pest control solutions.

Beetles can enter homes through small openings or unintentionally brought in on other items, posing risks to household items, including fabrics and food products. Without proper management, beetle infestations can cause considerable property damage and potential health hazards.

“At Alta Pest Control, we are dedicated to providing Spokane Valley residents with prompt and efficient solutions for their beetle problems,” states Faith Rock, a spokesperson for Alta Pest Control. “We recognize the importance of addressing these issues quickly and are devoted to helping our community maintain secure and healthy living environments.”

The provision of instant, no-charge beetle control estimates by Alta Pest Control in Spokane Valley signifies their ongoing commitment to the community’s well-being. Residents dealing with beetle infestations can rely on Alta Pest Control for timely and competent service. For additional details or to request an estimate, please visit https://www.altapestcontrol.com/locations/spokane-washington-pest-control.

Residents of Spokane Valley can access this service by:

  • Calling Alta Pest Control at 307-209-0956.
  • Sharing their specific beetle control concerns with an expert representative.
  • Receiving an immediate, no-obligation estimate tailored to their needs.

About Alta Pest Control:

Established in 2013 and recognized with a PCT Award, Alta Pest Control, offers professional pest management services to Spokane Valley, WA. Catering to residential and commercial clients, they are noted for their environmentally responsible practices, especially in moisture control. Their affiliations with the Washington Pest Control, National Pest Management, and Greater Spokane Pest Control Associations underscore their dedication to upholding industry standards in Spokane Valley.

Alta Pest Control is at 9608 E Montgomery Ave # 3, Spokane Valley, WA 99206.

Media Contact

Name
Alta Pest Control
Contact name
Faith Rock
Contact phone
307-209-0956
Contact address
9608 E Montgomery Ave # 3
City
Spokane Valley
State
Washington
Zip
99206
Country
United States
Url
https://www.altapestcontrol.com/

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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