Monday, September 27, 2021
Home Crypto News Market Cardano (ADA) Founder Charles Hoskinson Shares His Opinion on the Bitcoin Mining...

Cardano (ADA) Founder Charles Hoskinson Shares His Opinion on the Bitcoin Mining Drama in China And Recalls That Proof Of Stake (Pos) Systems Demonstrate Higher Mobility

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Charles Hoskinson recalls that proof of stake (PoS) systems are more mobile and can therefore be deployed anywhere in the world.

In his latest tweet, Mr. Hoskinson compared proof of stake (PoS) and proof of work (PoW) systems. This is due to the fact that Chinese miners are going through difficult days in search of an opportunity to move their business out of China.

“I wish the Chinese miners the best of luck”

Hoskinson stressed that PoS systems allow their operators to deploy servers anywhere in the world using only the command line. As a result, regulatory repression will never be a problem for PoS blockchains like Cardano (ADA).

He Said on Twitter:

Remember with a Proof of Stake system, you can move your server deployment anywhere in the world via the command line. I wish the Chinese miners the best of luck relocating all their extensive mining equipment somewhere else


Meanwhile, Mr. Hoskinson wished the Chinese miners “good luck” in exporting mining equipment from the PRC. As previously reported, according to insider information, the outflow of miners from China has already begun.

Kazakhstan and Pakistan are named among the most viable alternatives for deploying Chinese mining equipment. In addition, some analysts foresee an invasion of Africa, Mongolia and Afghanistan by the Chinese mining giants.

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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