Recently, NBC News, the news arm of the American broadcast television network NBC, called Cardano “the Significant proof of stake cryptocurrency in the market.”
In NBC report, titled “Cryptocurrency Goes Green: Can Proof of Stake Offer a Solution to Energy Problems?”. Ezra Kaplan, a technology news producer for NBC News, referred to the debate over the environmental impact of bitcoin, and said that unlike from Bitcoin, which uses an energy-consuming, proof of work consensus, some other blockchains like Cardano are taking a much more energy efficient approach.
Ryan, the researcher at the Ethereum Foundation talked about the simplicity of Proof Of Stake:
“Instead of buying a bunch of hardware and burning a bunch of energy, I can instead take that asset and lock it in kind of like a security bond.”
NBC Report writes:
“Proof of stake is already working. Cardano uses proof-of-stake and has the fourth-largest market capitalization — $50 billion — of any cryptocurrency. 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.
Other already functioning cryptocurrencies that use proof of stake include Polygon, Tezos, Polkadot and EOS.
Ehtereum is trying to come towards proof of stake in a project called Ethereum 2.0.”