New information about the Reserve Bank of India's (RBI) central bank digital currency (CBDC) implementation plan has been made public. The digital rupee's pilot program will begin in the 2022-2023 fiscal year, as originally scheduled, but it will only be available to wholesale enterprises at first. A source told Business Standard that the CBDC's layout prevents test subjects from maintaining their privacy.
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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