Altcoins

NBC News Calls Cardano ‘Most Significant Proof of Stake Cryptocurrency on the Market’

Recently, NBC News, the news division of the American broadcast television network NBC, called Cardano “currently the most significant proof of stake cryptocurrency on the market” in a report about energy consumption of cryptocurrencies.

In this report, which was titled “Cryptocurrency goes green: Could ‘proof of stake’ offer a solution to energy concerns?”, Ezra Kaplan, a technology producer for NBC News, referred to the “debate about bitcoin’s environmental impact” and said that unlike Bitcoin, which uses energy-hungry “proof of work” consensus, some other blockchains such as Cardano, use a “much more energy efficient approach” called “proof of stake”.

Ezra went on to say:

“Proof of stake is already working. Cardano uses proof-of-stake and has the fourth-largest market capitalization — $50 billion — of any cryptocurrency as of mid-May. It is currently the most significant proof of stake cryptocurrency on the market.

“Cardano surged after Musk tweeted about ending the program to allow people to buy Teslas with bitcoin due to energy efficiency concerns, which sent nearly every other cryptocurrency into steep declines. It has since followed suit and plummeted.“

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

   

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