The energy usage of cryptocurrencies is currently a hot topic on everyone's minds.
The claims on both extremes are a bit silly, with blockchain extremists claiming people should ignore energy usage completely, while anti-blockchain extremists want to leverage this to ban all of cryptocurrency without exploring options like Gulden that offer an alternative solution.
I’m not going to take a side on that in this particular article other than to say that the truth as always lies somewhere in the middle, we should all care to some extent about these things and form our own opinion.
With these sort of…
Back in 2018 when Gulden first released the PoW² system I publish a guide on how to use it.
That guide remains accurate and relevant even still today, however with activation of Phase 4 due this weekend (4th April 2020) bring various new features its time for a new guide to cover the new features.
Basic account creation:
Account creation remains the same as before, however the funding screen has seen a bit of a makeover.
At this point you will be see the initial funding screen for your new account. …
For those who don’t already know about Gulden; Gulden uses a unique consensus algorithm which we call PoW² that combines traditional “proof of work” mining with a secondary system of “witnesses” to greatly enhance security. To be a witness coin holders must lock substantial funds up for a lengthy period of time (up to three years). More information on this system: article on security implications, basic guide to being a witness, simple graphical high level overview, some FAQS, detailed paper .
On October 16th we activated SIGMA our new hash algorithm at the centre of the “proof of work” portion…
We will soon be entering public testing of our new ‘CPU friendly’ PoW algorithm. This article will give a high level overview of how it works; however before doing so first a discussion about how we arrived here and why we think a ‘CPU friendly’ algorithm is the way forward for Gulden is necessary.
Generally when the topic of ‘ASIC resistance’ or ‘CPU friendly’ PoW algorithms comes up people tend to immediately be separated into two camps.
- Those whose eyes begin to roll back in their heads as they explain that any algorithm that can execute on a CPU can…
This is the first in a series of articles I’ll be doing that focus on various aspects of the latest gulden release and PoW² specifically; I’ll be releasing more articles over the coming weeks each focusing on different aspects of the system or from a different perspective — so follow me if you want to know more.
NOTE: For the technical, this article glosses over various more in depth details that exist in order to be accessible; it also uses simplified calculations that are good enough for the average person to get a ballpark idea but are not exact…
Although the blockchain mechanics behind the PoW² system are rather complicated. The user facing process for creating a witness account is relatively simple. This guide attempts to show the basics, in future hopefully a more detailed (and prettier) guide will emerge.
Basic account creation:
Start by clicking on the ‘Add account’ button in your wallet.
- Rate and review us on the play store (Android) and app stores (Apple). These stores are an important source of new users for us, and one of the largest factors that influences whether users install our apps or not. It is an inevitable part of the industry we are in that occasionally some user abuses these stores to call us a scam and if this is the first thing new users see it can be very costly for us. The more genuine reviews on the store the less these few negative reviews matter; so rate and review us; it…
Cape town water crises — could Palmiet save us from day zero?
Disclaimer
I write this article based on the contents of a single blog post, I wish I were writing it based on more information but all my attempts to acquire more information have been ignored or shut down so far. I can’t even get hold of basic fact like the current Kogelberg dam level. …
