The FREED project is a public shared economy platform for efficient utilization of computing resources by non-monetary motivation of resource owners. Bitcoin mining uses up more power than 159 countries in the world 1. The computing power of Bitcoin network is 14 million TeraHashes per second, for Ethereum 150,000 GigaHashes 2 that means an equivalent of 5 million 1080 Ti cards. The total amount of computers involved in supporting blockchain transactions is calculated in the tens of millions. The Bitcoin network alone generates 1800 Bitcoins per day 3, that’s about $30 million per day and 10 billion per year. Even if a blockchain project does not use mining it has to support the infrastructure.
In November 2017, a pseudonymous actor exploited a vulnerability in Parity’s multi-signature Ethereum wallet library that rendered half a million… read more
DisclaimerThe information provided here does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of this content as such. None of the information should be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. We do not endorse or rate any initial coin offerings or cryptocurrencies listed or mentioned, nor do we encourage our readers to invest in anything. Investing in initial coin offerings or any cryptocurrency is considered a speculative and high-risk activity and we strongly encourage all investors to perform their own due diligence and consider their own circumstances before considering an investment.