Press Release
Behind High Energy Consumption of Blockchain: PoS Consensus Mechanism To Be A Solution
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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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.
Vietnam’s tourism sector is on track for a remarkable year, with nearly 16 million international visitors expected by the end of 2024, marking a significant rebound and growth in the industry.
According to the latest data from the Vietnam National Administration of Tourism, the total number of international arrivals reached approximately 15.84 million during the first eleven months of 2024, reflecting a 41% increase compared to the previous year. In November alone, Vietnam welcomed 1.71 million international tourists, a 20.5% rise from October and a staggering 38.8% increase from November 2023.
Market Growth and Major Source Markets
The growth in international visitors has been predominantly driven by travelers from Asia, who account for nearly 80% of all arrivals. Major source markets include South Korea, China, Taiwan, Japan, the United States, India, Malaysia, Cambodia, Australia, and Thailand. Notably, South Korea leads the way with over 4.13 million visitors, marking a 128.3% increase compared to the previous year, while China follows closely with 3.3 million visitors, a significant 222% rise.
European markets are also contributing to this growth, with the United Kingdom being the top source, sending over 279,000 tourists, followed by France, Germany, and Russia.
Mr. Phan Trong Thang, Director of Metta Voyage, commented, “Vietnam is on the rise, being chosen in the region for its freshness compared to Thailand, Indonesia or Singapore, its diverse and affordable cuisine, and the many newly opened direct flights at reasonable costs.”
Positive Trends Across Various Markets
Several countries have seen remarkable increases in visitor numbers compared to the previous month, including Poland (up 238%), Italy (up 88%), and Norway (up 66%). This upward trajectory highlights Vietnam’s increasing appeal as a tourist destination.
Mr. Nguyen Cuong Bach, Deputy Director of Metta Voyage, added, “High-end travelers are choosing Vietnam tour packages for its diverse experiences from North to South, the availability of new premium products, and the dedicated service of the Vietnamese people.”
Diverse Tourist Arrivals
Arrivals via air travel remain the most popular, with over 1.4 million international guests flying into the country. This trend underscores the importance of enhancing air connectivity to sustain growth in Vietnam tourism.
Conclusion
With a predicted total of 17 to 18 million international visitors by the end of 2024, Vietnam’s tourism industry is poised for a successful year. The country’s rich cultural heritage, stunning landscapes, and diverse experiences continue to attract travelers from around the globe.
Company Name: Metta Voyage Co., Ltd
Content Person: Nguyen Cuong Bach
Contact Email: bach@mettavoyage.com
City: Hanoi
State: Hanoi, Vietnam
Website is: https://mettavoyage.com
About Author
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.
Press Release
ReelDAO Joins NVIDIA Developer Program: Revolutionizing the Short Film Industry with AI and Blockchain
ReelDAO, a pioneering decentralized platform dedicated to transforming the short film industry, has officially joined the NVIDIA Developer Program. This collaboration marks a significant step in ReelDAO’s mission to harness generative AI and blockchain technologies, empowering creators and reshaping content creation and distribution worldwide.
“We are thrilled to join the NVIDIA Developer Program,” said the founder of ReelDAO. “This partnership will accelerate our technological innovation, particularly in AI-powered creation tools and Web3 decentralization.”
Empowering Short Film Creation with AI
ReelDAO’s proprietary VisionaryAI engine, enhanced by NVIDIA’s technological support, is poised to redefine the industry:
- Intelligent Scriptwriting: Leveraging NVIDIA AI for seamless narrative construction.
- Dynamic Video Production: Accelerating rendering speeds and improving visual quality with GPU-optimized tools.
- Real-Time Effects: Delivering Hollywood-level special effects to independent creators at reduced costs.
Blockchain and AI Synergy
As the first Web3-powered short film platform, ReelDAO integrates blockchain technology to decentralize content creation, distribution, and revenue management. With NVIDIA’s support, ReelDAO is enhancing smart contract optimization and distributed computing, further solidifying its industry leadership.
Through the native RDO token, creators can access AI tools, participate in governance through voting, and enjoy equitable revenue sharing, fostering a community-driven ecosystem.
About Author
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.
CEASEREA, Israel, 24th Dec 2024 – Guliverr, a new platform founded by entrepreneur Yair Fridrich, has been introduced to redefine the freelance economy by providing businesses with access to the top 1% of freelancers. The platform aims to address challenges faced by companies in hiring high-quality talent, offering a curated marketplace that emphasizes quality, affordability, and efficiency.
Innovative Leadership Behind Guliverr
Yair Fridrich, a self-taught entrepreneur, has gained global recognition for his expertise in business strategy and growth. Despite lacking formal education, his contributions have significantly impacted industries such as aviation, finance, healthcare, and food services. His consulting services, known for their transformative results, have been sought by major corporations, including McDonald’s.
Key Features of Guliverr
Guliverr has been designed to address inefficiencies in the freelance marketplace, offering a streamlined experience for businesses and freelancers.
Elite Talent Pool: A rigorous vetting process ensures that only the most skilled freelancers are available for hire.
Competitive Pricing: Operational efficiencies allow businesses to access top-tier talent at fair and affordable rates.
User-Friendly Interface: The platform simplifies the hiring and management of freelance professionals.
Comprehensive Services: A wide range of services, including digital marketing, web development, and graphic design, is available to meet the needs of modern businesses.
Impact on Businesses and Freelancers
The platform is positioned to become an essential tool for businesses seeking reliable freelance talent. It eliminates uncertainties such as hidden fees and unverified qualifications, enabling companies to focus on achieving their objectives.
For freelancers, Guliverr provides an opportunity to join an exclusive network, ensuring access to high-profile projects and fair compensation.
Market Significance
Guliverr’s introduction is timely, as the demand for remote work solutions continues to grow. The platform addresses critical gaps in the freelance economy, offering a dependable and scalable solution for businesses worldwide.
About Guliverr
Guliverr is a curated freelance platform designed to connect businesses with top-tier global talent. By prioritizing quality and transparency, the platform sets a new standard in the freelance economy, catering to diverse business needs.
For more detail Visit https://guliverr.com
Media Contact
Organization: Guliverr inc
Contact Person: Yair Friedrich
Website: https://guliverr.com
Email: info@guliverr.com
City: CEASEREA
Country: Israel
Release Id: 24122421848
The post Yair Fridrich Launches Guliverr to Transform the Freelance Marketplace appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.
About Author
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.
Vietnam Set to Welcome Nearly 16 Million International Tourists by End of 2024
ReelDAO Joins NVIDIA Developer Program: Revolutionizing the Short Film Industry with AI and Blockchain
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