Popular on EntSun
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement - 227
- BillBoards Inc. Hits the Road with God Bless America Tour and Reality Series Now Streaming on Tubi TV - 173
- databahn Launches GenAI Sales Intelligence Platform to Revolutionize Fortune 500 and Global 2000 Account Research - 134
- Byrd Davis Alden & Henrichson Launches Independence Day Safe Ride Initiative with 500 Free Uber Credits - 126
- The ITeam Ranked on Channel Partners 2025 MSP 501—Tech Industry's Most Prestigious List of Managed Service Providers Worldwide - 119
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market - 119
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI) - 117
- NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence - 113
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations - 107
- Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request - 106
Similar on EntSun
- Pixel Studio Productions Launches Same-Day Headshots in Houston
- Exelon Leader Tamla Olivier Named 2025 Technologist of the Year by Waves of Change STEM Conference
- Be Part of the World's Largest Art Biennale | Moons, Castles, Trees | Copenhagen Chronotopes
- SeedList Launching Institutional Crypto Crowdfunding Project to Empower Retail Investors and Disrupt the VC-Dominated Crypto Fundraising Landscape
- Rent Like A Champion Acquires CollegeWeekends
- Seligson Law Launches New Website to Support Cannabis Businesses in California and New York
- databahn Announces Subscription Access to Fortune 500 GenAI Deep Dive Sales Intelligence Reports
- AI startup Congero offers instant websites with 24/7 updates - aiming to replace web agencies
- WonderDays Launches the UK's First AI Experience Gift Finder – Gifting Just Got So Much Easier!
- Nonprofit innovator named Mensa Executive Director
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
- California Family Launches Billboard to Reach "Pardon Czar" Alice Marie Johnson
- Performance Slots Available: Collision Course Concert Series Heads to Atlanta, Tampa & Brooklyn
- Rent Like A Champion Acquires CollegeWeekends
- Sumter Landing Dental Care Launches Summer Special on Full Mouth Reconstruction
- Seligson Law Launches New Website to Support Cannabis Businesses in California and New York
"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
- databahn Announces Subscription Access to Fortune 500 GenAI Deep Dive Sales Intelligence Reports
- AI startup Congero offers instant websites with 24/7 updates - aiming to replace web agencies
- The Recording Academy Extends Invitation to The World's No.1 Superstar™—But He's Not Chasing the Award
- WonderDays Launches the UK's First AI Experience Gift Finder – Gifting Just Got So Much Easier!
- CelluHeal™ Launches Full Line of Advanced Wound Dressings for Online Purchase in the USA, Canada, and Beyond
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
0 Comments
Latest on EntSun News
- Opteamix Launches StackRewrite.AI to Transform Enterprise Legacy Modernization
- Planet Maldek: Watcher Files Unseals Explosive New Theory About Mars' True Origins
- DatsJustice Ignites the Industry with New Single "Dead Or Alive" & Announces 2025 Tour Kickoff
- "The Pornified Generation": Dr. Chris Samuels Exposes the Toxic Alliance Between Bro Culture and Pornography That's Rewiring a Generation
- Meet a Scientologist Builds Aussie Dreams with Mike and Jonny Hibbard
- Overwhelmed: Rick Denzien's Stark and Stirring Climate Anthem
- The 2025 ESPY Awards After Party- Presented by Poppi & High Noon
- The Modern Insurance Store Expands Medicare Help Services for Seniors in Cincinnati
- Ironside HR Named Fastest-Growing Staffing Firm for Second Year
- Inframark Continues to Build Its Community Management Capabilities and Multi-Disciplinary Presence in Arizona
- ICAST 2025: The Crystal-Clear Revolution Begins at Booth #3233
- Brindle Pet Supplies Now Carries Badlands Ranch Dog Food in Canada
- $10 Million Allocated to Establish Crypto Treasury Focused on High Value Ethereum (ETH) & Bitcoin (BTC) as Long-Term Holdings for Cybersecurity Leader
- Sing For Your Supper: A Night of Musical Comedy and Drag for a Great Cause
- Cummings Graduate Institute for Behavioral Health Studies Celebrates New DBH Graduates
- $100 to $200 Million Equity Agreement with Top Digital Advisor Bitwise to Power Major Digital Asset Initiative for Bitcoin and Solana: OFA Group
- InSpired Brings World Premiere to the Weinberg Center This October
- New Collaboration Launches Corporate ESG Solution for Responsible Decommissioning and Transparent Reporting
- SlickCashLoan Launches Free Loan Calculator to Help You Plan Monthly Payments
- Hot New Fantasy Series Alert: The Key to Wonderland Captivates Readers with Dark Magic and Twisted Romance