Popular on EntSun
- Electives Appoints DraftKings' CPO Linda Aiello to Board Amid Record Quarter - 192
- Mission 3A Establishes Healthcare Advisory Board with Addition of Industry Leaders Patrick Fisher, Kevin Cordell, and Dr. Greg Berlet - 179
- Retirement Income Specialist Daniel Rondberg Joins Tom Hegna on the Exciting New Season of "Financial Freedom with Tom Hegna" - 145
- OpsVeda Announces Launch of TariffSight, the World's First Comprehensive Platform to Address Tariff-Driven Challenges - 122
- Tobu Railway Announces a Price Revision on the "NIKKO PASS All Area" and "NIKKO PASS World Heritage Area," from April 20, 2025 - 116
- Meditech International Inc. and Los Angeles Rams Continue Strategic Partnership to Enhance Athlete Performance and Recovery - 113
- Deevid.ai Unveils AI Kissing and AI Dancing Templates to Power Viral TikTok Content Creation - 110
- Family Estrangement on the Rise: Therapist Offers Support, Perspective, and Community for Those Affected - 108
- Multi-Award Winning B.Slade to Debut in Las Vegas at Iconic Westgate Resort & Casino; The B.Slade Experience (BSX) — May 3, 2025 - 108
- Is Billboard Advertising Still Effective in 2025? - 101
Similar on EntSun
- Asset-Backed Green Crypto: Fueling the Trillion-Dollar Revolution
- Fairmint Introduces First Fully Onchain and Open Cap Table Infrastructure
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Ushering in a Disruptive Innovation in Web3
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- Adster Techologies awarded US Patent for breakthrough innovation in reducing latency in Ad Serving
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
- Cybersecurity is Protecting Your Personal Information and Your Portfolio
- L2 Aviation Celebrates Grand Opening of New Facility at Cincinnati/Northern Kentucky International Airport (CVG)
- The Paris Court of International Arbitration Elects Dr. John J. Maalouf as its New President
- $56.7 Million Announced in Q1 2025 with Revenue Growth and Progress Toward NASDAQ Uplisting for AI Marketing Company: IQSTEL, Inc. Stock Symbol: IQSTD
Bitcoin in Unique Leadership Position with Ethereum's Abandonment of Proof of Work*
EntSun News/10964780
The Ninth Edition of the CryptoSuper500 Report Evaluates Crypto Winter as Annual Economic Value of Proof of Work Supercomputing Drops to Under $7B
MENLO PARK, Calif. - EntSun -- OrionX Research today released the ninth edition of its CryptoSuper500 list. The list, now four years old, recognizes cryptocurrency mining as a form of supercomputing application, tracks the top mining pools, and offers a snapshot of the cryptocurrency industry. CryptoSuper500 was developed by Dr. Stephen Perrenod, OrionX Partner and noted Crypto Analyst who has also created a top-ranking Bitcoin evaluation model and elucidated the concept of the "blockchain calendar".
With Ethereum's change in consensus algorithm in September, away from the security-first proof-of-work for token creation to the transaction speed-first proof-of-stake, and the current crypto winter in prices, cryptocurrency mining pools produced at a rate of less than $7B annual economic value (AEV), down from over $42 billion a year ago. The list is now completely dominated by Bitcoin, showing an AEV of $5.8 billion, down from $20 billion one year ago. Dogecoin is the new #2, but is much smaller in generated annual economic value than Bitcoin due to a more inflationary money supply algorithm, and lower security as measured by deployed hash-rate, a measure of the rate at which cryptographic puzzles are solved by supercomputing resources.
More on EntSun News
"Trends to watch going forward include faster and more energy-efficient mining hardware including some mining rigs that have liquid cooling, the continued dominance of the North American mining industry with public companies as major players, and the trend of increasingly green electricity and even carbon neutrality goals for the industry," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "We expect some consolidation in the publicly traded crypto miners, unless prices rise quickly from here, and see continued volatility, as well as promise in select cases, in the cryptocurrency industry."
Bitcoin's security relies on a specialized form of supercomputing that employs several million ASIC mining 'rigs', with many different owners, working around the globe in a synchronized competitive race, repeated every block (about 10 minutes' worth of transactions). They execute the same open-source software, and encode value and transactions onto a shared but decentralized and publicly auditable blockchain. Such mining rigs are powered by custom Application Specific Integrated Circuits (ASICs) in Bitcoin's case, while other proof-of-work cryptos use ASICs or hardware accelerators such as (Graphic Processing Unit) GPU chips.
Bitcoin's electricity consumption is estimated to be approximately 0.5% of the global electricity use according to the University of Cambridge's Centre for Alternative Finance. Unlike most electricity, it is used for production, not consumption. Bitcoin can be viewed as energy that is securely encapsulated as highly secured information, held as long-term value in the Internet.
More on EntSun News
Cryptocurrency technologies include blockchains, consensus algorithms, utility and security tokens and the technologies and applications that support them. These include digital wallets, exchanges, non-fungible tokens (NFT), and decentralized finance applications (DeFi). Cryptocurrency mining is a specialized domain of decentralized high performance computing (HPC).
There are now some 21,000 cryptocurrencies, up from 13,000 a year ago. Only a very small minority use supercomputing levels of resources. Most others will struggle to break away and are expected to be niche players or nearly worthless in the long run.
The full list with additional explanation is available at OrionX.net/research.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
With Ethereum's change in consensus algorithm in September, away from the security-first proof-of-work for token creation to the transaction speed-first proof-of-stake, and the current crypto winter in prices, cryptocurrency mining pools produced at a rate of less than $7B annual economic value (AEV), down from over $42 billion a year ago. The list is now completely dominated by Bitcoin, showing an AEV of $5.8 billion, down from $20 billion one year ago. Dogecoin is the new #2, but is much smaller in generated annual economic value than Bitcoin due to a more inflationary money supply algorithm, and lower security as measured by deployed hash-rate, a measure of the rate at which cryptographic puzzles are solved by supercomputing resources.
More on EntSun News
- Sell Your Rolex, Audemars Piguet (AP), and Patek Philippe Watches at David and Sons Timepieces
- Miss United Crown of America Launches as a National Platform for Purpose-Driven Titleholders
- Big Red NOLA Publishing Boosts "Voices of Tomorrow"
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Ushering in a Disruptive Innovation in Web3
- Aureli Construction Sets the Standard for Seamless Home Additions in Greater Boston
"Trends to watch going forward include faster and more energy-efficient mining hardware including some mining rigs that have liquid cooling, the continued dominance of the North American mining industry with public companies as major players, and the trend of increasingly green electricity and even carbon neutrality goals for the industry," said Dr. Stephen Perrenod, OrionX Partner and Analyst. "We expect some consolidation in the publicly traded crypto miners, unless prices rise quickly from here, and see continued volatility, as well as promise in select cases, in the cryptocurrency industry."
Bitcoin's security relies on a specialized form of supercomputing that employs several million ASIC mining 'rigs', with many different owners, working around the globe in a synchronized competitive race, repeated every block (about 10 minutes' worth of transactions). They execute the same open-source software, and encode value and transactions onto a shared but decentralized and publicly auditable blockchain. Such mining rigs are powered by custom Application Specific Integrated Circuits (ASICs) in Bitcoin's case, while other proof-of-work cryptos use ASICs or hardware accelerators such as (Graphic Processing Unit) GPU chips.
Bitcoin's electricity consumption is estimated to be approximately 0.5% of the global electricity use according to the University of Cambridge's Centre for Alternative Finance. Unlike most electricity, it is used for production, not consumption. Bitcoin can be viewed as energy that is securely encapsulated as highly secured information, held as long-term value in the Internet.
More on EntSun News
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- Pathways to Adulthood Conference May 17 at Melville Marriott Honoring NYS Assembly Member Jodi Giglio, Suffolk County Legislator Nick Caracappa
- KBA Sports and 6x Entertainment Join Forces to Become Global Sports Partners
- Adster Techologies awarded US Patent for breakthrough innovation in reducing latency in Ad Serving
- Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
Cryptocurrency technologies include blockchains, consensus algorithms, utility and security tokens and the technologies and applications that support them. These include digital wallets, exchanges, non-fungible tokens (NFT), and decentralized finance applications (DeFi). Cryptocurrency mining is a specialized domain of decentralized high performance computing (HPC).
There are now some 21,000 cryptocurrencies, up from 13,000 a year ago. Only a very small minority use supercomputing levels of resources. Most others will struggle to break away and are expected to be niche players or nearly worthless in the long run.
The full list with additional explanation is available at OrionX.net/research.
About OrionX
OrionX is a Silicon Valley consulting firm offering Technology Research, Market Execution, and Customer Engagement services to high tech companies. More than 70 financial institutions and technology leaders in virtually every technology segment have trusted OrionX to provide advice, help set new break-away strategies, ignite brands, and grow market share. Visit us at OrionX.net.
* Note: This effort is an analysis of the technologies and trends surrounding blockchain and cryptocurrencies. It is not, and must not be considered as, financial, investment, or legal advice.
Source: OrionX.net
Filed Under: Business, Technology
0 Comments
Latest on EntSun News
- ImagineX, in Collaboration with Qualys, Launches New mROC Services to Transform Enterprise Cyber Risk Management
- Ditch Micromanagement: New Leadership Book for Results-Driven, Accountability-Based Teams
- Jay Tapp was named Managing Director in British Columbia
- World Ballet Company's Cinderella Comes to the Weinberg Center This Fall
- Hubei Heavy Equipment Makes a Striking Appearance at CIMT and Competes with International Brands
- 20 Patents Issued Worldwide, Cementing Company Leadership. First Ever Cable-Free 12-Lead ECG: HeartBeam, Inc. (Stock Symbol: BEAT)
- NASDAQ Uplisting for Higher Market Exposure and Wide Corporate Benefits to AI Boosted Marketing Company On Track Towards $1 Billion Revenue by 2027
- Congressional Men's Health Caucus Shows Bipartisan Consensus and Focus on Prevention, Mental Health, and Closing the Lifespan Gap
- DuoKey, Axiomtek and Blue Edge Network Partner to Enhance Smart Cities with Privacy-Preserving Urban Safeguarding and Fleet Management
- Austin Keen Joins WakeFX RopePal as Official Brand Ambassador
- Bonelli Systems Expands Managed IT Services Nationwide, Leveraging Microsoft Azure Expertise
- $4.3 Million Patent Application Waiver Fee Granted by FDA on New Drug Application Fee for Treatment Addressing Suicidal Depression & PTSD: NRX Pharma
- Whistleblower Claims Dental Patient Deaths Likely Due to Book Ban
- xREnergy up as much as +3,094,634% on first day listed on the XRP Ledger. Ticker : $XRE
- Psychiatry's Legacy of Racism and Coercion Highlighted in Restraint Deaths
- New Book 'Cybersecurity Leadership' Guides SME Leaders to Make Smart, Strategic Security Decisions
- "Stop scrolling and start watching" - Beloved film recommendation site Criticker gets a major makeover
- Green Energy Solar Expands with New Offices in Port St. Lucie, West Palm Beach, and Orlando
- Events by Dubsdread Expands Services to The Venue at Lake Lily
- London Gala Emphasizes Trade, FDI and Ongoing Cooperation