The Bank of Thailand has reiterated that cryptocurrencies such as Bitcoin and Ether are not legal tender in Thailand. Money laundering, theft, and price volatility are among the hazards that everyone involved in the trading of digital assets for goods and services, whether as the sender or recipient, may face consequences, If they pose "extensive dangers to the general public or the economic and financial system," regulators may take serious action, according to BOT. Thailand’s central bank is still working on creating a digital currency of its own.
Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.
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