Date: 1st March 2023
Time: 6 PM IST,(GMT+8) 8.30 PM ,GMT 12.30 PM
Topic: Going Green with Proof-of-Stake Blockchain Protocols
Abstract: In recent years, academics, analysts, and industry practitioners have raised concerns regarding the significant environmental impact associated with blockchain technologies. In particular, the elevated carbon emissions associated with the extensive energy consumption during cryptocurrency mining operations have created a setback to blockchain’s otherwise bright future. As a result, the technology community is investigating viable ways to transition from energy-intensive to low-energy crypto mining, thereby reducing the sector’s carbon footprint.
One such method is to employ proof-of-stake (PoS) rather than proof-of-work (PoW) consensus mechanisms, as crypto mining using PoS protocols requires far less computational energy compared to PoW. Developing coins that rely on PoS rather than PoW consensus mechanisms could move the cryptocurrency sector toward a greener future, and blockchain experts have proposed adopting PoS consensus mechanisms for prominent cryptocurrencies like Bitcoin and Ether. This webinar will discuss the merits and viability of implementing PoS cryptocurrencies with a focus on their environmental impact.
Key takeaways:
- the need for a green blockchain
- the differences between PoS and PoW
- how PoS mechanisms can make blockchains more environmentally friendly
- the benefits of implementing PoS protocols in conjunction with renewable energy measures
- how to balance decentralization, security, and scalability
Moderator:
Paresh Rathod (PhD), Technology and Innovation Expert, Educator
Bio: Paresh Rathod is a technology expert and educator with a holistic growth mindset. He is deeply passionate about advancing technology and making a positive impact on those around him. Committed to service, contribution, inspiration, and upliftment, Paresh dedicates his efforts to benefit individuals, communities, and organizations with whom he is associated.
Paresh takes on various roles in organizations and communities, volunteering his professional expertise to support the growth of SMEs and community organizations.
Through his tireless dedication, Paresh Rathod continues to pave the way toward a brighter future for humanity.
Agnelo Marques, Vice President and Head of Blockchain, Mphasis
Bio: Agnelo Marques, Vice President and Head of Blockchain at Mphasis, has over 20 years of experience in all phases of software solution development. Over his tenure in this space, he has worked for large global financial services firms in the United States, United Kingdom, Europe, and India. His current focus is blockchain technology and its application to various industries, and he loves working with emerging technologies.
Roberto Capodieci, Decentralization Advocate, Blockchain Architect, and Author
Bio: Decentralization evangelist, university lecturer, and author of books and articles on the blockchain, Roberto’s love affair with computers started when he was a little kid. He sold his first video game at age 10 and opened his first consulting firm at 14, later specializing in big data analysis as a law enforcement consultant. He has studied decentralized systems and peer-to-peer networks since the times of the BitTorrent protocol, and he has had active experience with blockchain technology since 2013. He pioneered the use of blockchain in Trade Finance in 2014 while being part of the development of the first blockchain platform based on Proof of Stake. After spending several years as a consultant and architect of custom decentralized systems, Roberto founded Blockchain Zoo in 2017, providing custom blockchain platforms and architecture of decentralized systems to clients in several industries. In 2019 Roberto architected and implemented a new blockchain decoupled from cryptocurrencies, with unique designs and many industry firsts. Roberto is now a co-founder and advisor in several Web3 companies, helping them build functional products and solid relationships with partners across multiple industries.
*Examples, analysis, views and opinion shared by the speakers are personal and not endorsed by EC-Council or their respective employer(s)
