IOTA/USD Trading forecasts and signals

The US Federal Reserve System (FRS) begins to pursue the cryptocurrency industry after the end of the preparatory stage, said Caitlin Long, founder of Avanti crypto bank.Bitcoin fell on Tuesday to five-day lows of about $32,200 after the release of data on record inflation in the United States since 2008. Rising prices may lead to a tightening of the Fed's monetary policy, which is negative for all assets, including cryptocurrencies.Meanwhile, the CEO of Avanti announced the "beginning of the persecution" of the cryptocurrency industry by American regulators.According to Long, the Fed intends to complicate access to the payment system and bank accounts - related to crypto assets to companies."It seems that the repression has begun. I do not know how it will end, but it will not directly affect Bitcoin and other cryptocurrencies. This will affect intermediaries and access points to US dollars, " she explained.According to Long, an important event for the industry took place on July 13 - the period of collecting public opinions on the Fed's proposed guidelines for evaluating requests for access to bank accounts and the payment system ended.The document was submitted in early May and defines the principles on the basis of which the Fed will evaluate requests for access to its services.Because of this document, there is a risk of a repeat of the situation in 2017, when cryptocurrency startups massively lost bank accounts, the CEO of Avanti believes. The risk of termination of servicing the industry by banks was mentioned earlier by the Coinbase exchange in the application for listing its securities.Increased regulatory oversight can benefit the cryptocurrency industry, said billionaire and co-founder of Bitmain Jihan Wu. In his opinion, regulation "weeds out intruders" and improves the reputation of the industry in the conditions of rapid growth.Recall that in May, the Chinese authorities banned companies from supporting cryptocurrency-related business, and then announced plans against cryptocurrency mining and bitcoin trading. In June, the world's largest crypto exchange Binance faced regulatory pressure.No one doubts that the Chinese authorities will officially squeeze out all possible analogues of the digital yuan from their territory, and this fact is unlikely to cause serious pressure on the market. Markets are afraid that other countries will adopt Beijing's experience. Developed economies are more restrained in their manifestations, and they are probably trying to assess the consequences of such ...

Bitcoin fell sharply on Thursday after a new statement by the Central Bank of China.The first cryptocurrency fell by almost $2,500, approaching the lows for a week and a half around $32,000.Bitcoin and stablecoins have turned into speculative instruments that threaten the security of the financial system and social stability, vice Chairman of the People's Bank of China (PBOC) Fan Yifei said on Thursday.According to him, it was the threats coming from the first cryptocurrency and stablockins that caused the introduction of restrictive measures. Yifei promised that in the near future Beijing will introduce new measures against the cryptosphere.Answering questions from journalists, Fan Yifei pointed out that private digital currencies and central bank digital currencies (CBDC) should be separated. China will continue to actively promote the digital yuan and will use it during the 2022 Winter Olympics, which will begin in February.Calls for the introduction of strict restrictions on mining and crypto trading were made by the Chinese authorities in mid-May. In June, four provinces of China completely banned the mining of cryptocurrencies, and banks and other financial organizations of the People's Republic of China were banned from conducting operations related to digital assets.As a result, more than 70% of miners were forced to turn off their equipment to move to other countries. The hashrate of the first cryptocurrency has decreased by more than 50% in a month.Against this background, bitcoin has fallen by 20% in two months. Experts agree that if the Chinese authorities continue to put pressure on the market, then a further decline in bitcoin is ...

The world's largest cryptocurrency exchange Binance has recently been attacked by regulators and banks.One of the largest financial conglomerates in the world, Barclays, on Monday banned its customers in the UK from sending funds to the Binance crypto exchange.The decision is aimed at "helping to keep your money safe", according to an SMS message sent to the bank's customers who transferred money to Binance this year.Santander Bank also announced that it will reconsider its attitude to payments sent to unregulated crypto exchanges. Lloyds noted that they do not allow credit card transactions related to cryptocurrencies and check such transactions for fraud.Last week, the Securities and Exchange Commission of Thailand opened a criminal case against Binance. The regulator found that Binance provided services through its website without a corresponding license. Earlier, Binance came under pressure from regulators in Singapore and the Cayman Islands.At the end of June, the British regulator FCA warned that Binance Markets is dangerous for consumers because it operates without a license. This warning also applies to the Binance Group.Earlier, the Financial Services Agency of Japan (FSA) issued another warning to Binance for working in the country without a license. The main purpose of the notification is to protect investors. More about Binance:Binance crypto exchange is under ...

Regulated Crypto Exchange of Tokenized Assets and Cryptocurrencies Currency.com expanded the list of tokens for trading. The listing of the crypto platform included 17 tokens of popular DeFi and ICO projects, as well as two stablecoins. Crypto exchange clients currency.com the following tokens are now available for purchase:Stablecoins USDC-USD CoinThe DAI stablecoin is a token of the MakerDAO decentralized autonomous organization.SUSHI-token of the decentralized crypto exchange SushiSwap OMG-token of the OMG Network financial service.BAT-token of the Brave decentralized browser.ZRX is a token of the 0x decentralized exchange service.KNC is a token of the Kyber Network decentralized service.MATIC is a token of the Matic Network platform.WBTC-tokenized bitcoin.AAVE is a token of the Aave decentralized lending protocol.Augur is a token of the Augur decentralized prediction protocol.SNX is a token of the decentralized protocol for creating and exchanging synthetic assets of Synthetix.YFI-token of the decentralized farming service Yearn. Finance.UMA is a token of a decentralized protocol for creating synthetic assets based on the Ethereum UMA blockchain.REN is a token of the Republic Protocol decentralized Dark Pool protocol.OCEAN is a token of the decentralized Ocean Protocol data protocol.BAND-token of the decentralized oracle service Band Protocol.BNT is a token of the Bancor decentralized network for converting ERC-20 tokens.ANT-token is an operating system for Aragon business management.Tokens are available for purchase in the "Bidding" mode with tokens USD.cx and USDT.  Tokens USDC, OMG, BAT, ZRX, and MATIC are available for trading with c tokens USD.cx and USDT.Tokens DAI, SUSHI, KNC, WBTC, Augur are available for trading with the USDT.Tokens AAVE, SNX, YFI, UMA, REN, OCEAN, BAND, BNT, ANT. About Currency.com On the crypto exchange Currency.com more than 2000 tokenized assets are available for trading, including tokenized ones: stocks, ETFs, stock indexes, currencies, bonds, commodities, as well as top cryptocurrencies. You can buy, store and sell tokenized assets and cryptocurrencies, as well as use the “Leverage Trading” mode, which, depending on the type of asset, varies from 2x to 100x. You can add tokens to your account (account) on the crypto exchange with the help of Belarusian and Russian rubles, euros, dollars and cryptocurrencies.Crypto Exchange Activity Currency.com It is regulated by the Decree of the President of the Republic of Belarus No. 8 "On the Development of the Digital Economy", the legislation of the Republic of Belarus and the acts of the Supervisory Board of the Hi-Tech Park of the Republic of Belarus.. Currency Com Limited has a DLT license from the financial regulator of Gibraltar, and is also registered with FinCEN (USA) and FINTRAC ...

Intertrust conducted a survey of 100 large hedge funds. Its results showed that almost all funds plan to significantly increase their investments in cryptocurrencies within 5 years. Their share in the investment portfolios of hedge funds can reach an average of 7.2%. This means that the total amount of investments in cryptocurrencies can reach $312 billion. At the same time, every sixth respondent said that the share of cryptocurrencies in the portfolio of his fund will exceed 10%. A representative of Intertrust said that, as it turned out, the funds that took part in the survey are well aware of both the risks associated with the cryptocurrency market and its great opportunities in the long term. The greatest interest in cryptocurrencies is shown by hedge funds from the United States. At the same time, European funds were more cautious about the prospects for this investment direction. Experts believe that the plans of hedge funds to invest in Bitcoin will not allow the exchange rate of this cryptocurrency to fall below the level of ...

Developments in the cryptocurrency sector without a proper approach to control can increase risks to the global banking system, according to the Bank for International Settlements (BIS), also known as the "Central Bank of Central Banks".The Basel Committee on Banking Supervision (BCBS) of the Bank for International Settlements said that banks should have sufficient reserves to fully cover losses from investments in cryptocurrencies.BCBS works with the Bank for International Settlements and is engaged in the creation of common regulatory standards. According to the BCBS press release, such risks are still limited for credit institutions, but they may threaten global financial stability in the future.The Committee presented the rules for "risk weighting" for banks with access to different types of assets. For conventional cryptocurrencies, including bitcoin, the risk factor will be 1250%.This means that any bank that owns bitcoin or other crypto assets will be required to have in stock the amount of fiat currency, 12.5 times the amount of its investment in digital assets.Tokenized assets and stablecoins will be subject to the same rules as bonds, loans, commodities, and stocks.The statement of the Basel Committee came after the government of El Salvador expressed its readiness to use bitcoin as a legal tender, despite the high volatility of the cryptocurrency market.Many participants in the cryptocurrency industry believe that the "Basel rules" will prevent the widespread adoption of crypto assets among institutional investors. The recent bitcoin rally was largely due to the investments of large ...

The US Federal Reserve is once again drawing attention to the risk that cryptocurrencies pose to financial stability. This was stated by its chairman Jerome Powell, pointing to the need to strengthen the regulation of cryptocurrencies. As reported by Reuters, this opinion was joined by the US Treasury Department, pointing out that the concern is the lack of regulation of the digital currency sector, and this can be used by rich people to avoid paying taxes. The Ministry considers it necessary to ensure that the authorities receive information about large transfers of crypto assets. The Reuters report notes that following the information from the Chinese authorities about the introduction of new restrictions in the cryptocurrency sector, a sharp drop in bitcoin followed. The first cryptocurrency lost 30% of its value on May 19. Speaking about the achievements in the field of financial technologies and their potential benefits, Powell also drew attention to the potential risks that cryptocurrencies, stablecoins and other innovations can carry for users and the financial ...

The SHIB token jumped by 50% at the moment.Ethereum founder Vitalik Buterin burned 410 trillion SHIBS worth more than $6.5 billion by sending them to an inaccessible address.In a comment on the transaction, he explained that he did not intend to keep SHIB in his wallet for security reasons. In order to avoid speculation during further movements, the co-founder of Ethereum decided to get rid of the coins.He promised to donate the remaining 10% of SHIB to charity, and this will be a longer-term goal than the fight against coronavirus."If you run coins, decentralized organizations, or anything else, please don't give me coins or power in your project without my consent!  Buterin added. — I don't want to be such a center of power. It's better to just print the coins directly into the charity's wallet, but also talk to them first."Recall that the developers of the SHIB project sent half of the token issue to Buterin's wallet, which made him the largest holder of the cryptocurrency.Last week, the founder of Ethereum collapsed the markets for "dog" tokens, selling significant amounts of assets and sending the proceeds from this money to charity.In particular, he donated more than $1 billion to the COVID-19 pandemic fund in ...

The regulator believes that the crypto exchange traded securities in the United States without a corresponding licenseSEC fined the crypto exchange Poloniex for $10 millionThe Poloniex crypto exchange registered in the Seychelles received a fine of more than $10 million from the US Securities and Exchange Commission (SEC).The SEC issued a fine for the operation of an "unregistered online digital asset exchange" in the period from July 2017 to November 2019.According to the regulator, Poloniex traded digital assets that were securities. For these operations, the crypto exchange needed to obtain a special license, which it did not do, according to the SEC.The Commission clarifies that in 2017, the management of Poloniex decided to "aggressively" increase its market share by listing digital assets. Such assets are essentially investment contracts, which means that they are securities, the regulator explains.The SEC notes that Poloniex gradually got rid of such assets, but until November 2019, it continued to trade them in limited quantities. Such operations continued until the crypto exchange sold its trading platform.Poloniex agreed to pay a fine of $10.3 million, while not denying or admitting their guilt.Read more: Listing of securities on the stock ...

The consensus algorithm is the rules by which blocks are generated in the blockchain. Depending on the algorithm used, some blockchains have a mining mechanism for extracting new coins, while others have staking, some networks work faster, but are subject to centralization, others are slower, but it is difficult for unscrupulous network participants to take control of them. Therefore, it is important to understand the differences between PoW, PoS, PoA and other consensus algorithms in order to correctly assess the prospects of a blockchain project. We have made a detailed guide on the most popular consensus algorithms presented in advanced blockchain projects.What is the consensus algorithm in the blockchainLet's start with the basics. Blockchain is a decentralized network of blocks containing various data. In cryptocurrencies, these blocks store information about all operations within the network. All blocks are written to the network sequentially one after another and are connected in a chain. In this case, each block contains information about all the previous blocks. You can't delete, edit or change anything from such a network retroactively - after all, you would have to rewrite the entire chain from the very beginning.In the blockchain, a special built-in mechanism called the consensus algorithm is engaged in checking operations and confirming that they are recorded correctly.The blockchain consensus algorithm is a method by which the decentralized nodes of the network reach agreement (or consensus) on the current state of data in all blocks. A node is any computer connected to the blockchain that verifies and confirms transactions, and stores a copy of the blockchain.The consensus algorithm guarantees compliance with the protocol rules and the reliability of all transactions. In other words, it is responsible for ensuring that all nodes of the network agree with the addition of a new block to it. In this way, the consensus algorithm maintains the integrity and security of the network.At the same time, it is important to understand the difference between the consensus algorithm and the protocol:The protocol is the rules of the blockchain, according to which the network nodes interact, transaction data is transmitted and block mining is confirmed.The consensus algorithm is a mechanism for checking the implementation of the rules: whether the balances and signatures are correct, whether all transactions are correct.For example, Bitcoin and Ethereum are protocols, and Proof-of-Work and Proof-of-Stake are consensus algorithms.There are many variants of consensus algorithms. Let's take a closer look at the most popular among the best blockchain projects.Proof-of-Work (PoW)Proof-of-Work is a consensus algorithm that was first introduced in the network of the first Bitcoin cryptocurrency.A little history. The concept was first introduced in 1993, and in 1997, Adam Back, one of the contenders for the role of Satoshi Nakamoto, developed the Hashcash algorithm based on it, which was supposed to protect email from spam. In 2004, Hal Finney, another candidate for the role of Satoshi, suggested using PoW for electronic currencies. And in 2008, this algorithm was used by Satoshi Nakamoto himself in his cryptocurrency bitcoin. Later, Proof-of-Work (PoW) was also used in the blockchain of other early cryptocurrencies: Litecoin, Ethereum (before the launch of the update that launched the multi-year transition to PoS), Bitcoin Cash, Bitcoin Gold, Dash, Dogecoin, Monero and Zcash.The essence of PoW is as follows: network nodes (miners), in order to confirm transactions and not allow other participants to spend the same coins twice, must solve complex mathematical problems (hash functions). The node that first found the solution receives a reward — new coins of the network. At the same time, the complexity of mining protects the network from possible threats in the form of DDoS attacks, 51% attacks (when attackers gain control over transaction confirmation and block creation) and other types of attacks. If the tasks were too easy, attackers could easily break into the network.PoW was a breakthrough for its time and allowed the launch of the first cryptocurrencies. It makes the network decentralized and resistant to hacking.So, Bitcoin is almost impossible to crack — you would need a quantum computer and huge resources to gain control over the network.But with the popularization of cryptocurrencies and their mass introduction, the disadvantages of this algorithm began to become more noticeable. Moreover, now these vulnerabilities hinder and limit the development of early cryptocurrency projects.Among the main disadvantages of PoW:Mining is too energy-consuming. Many nodes in the network compete with each other, constantly performing complex calculations. But in fact, most of them work in vain, since the reward goes to only one node. Bitcoin mining consumes more energy than countries such as Switzerland or Greece; Users have to pay miners fees for verifying transactions. The busier the network, the higher the commissions in it. For small transactions, the commissions may even exceed the amount of the transfer itself;Low speed and poor scalability. PoW - blockchains are sorely lacking in speed. For example, the maximum throughput of the Bitcoin network is only 7-10 transactions per second. Such low indicators are not suitable for mass and everyday use;Centralization of miners who unite in pools. This reduces the security of the network, increases the complexity of mining and contributes to the growth of commissions.Proof-of-Stake (PoS)Proof-of-Stake is a consensus algorithm presented at the Bitcointalk forum in 2011 as an alternative to PoW. The purpose of this algorithm is to try to correct the main disadvantages of PoW, in particular, low speed and weak scalability of the network.In 2012, this algorithm was first integrated into the blockchain of the PPCoin cryptocurrency (currently PeerCoin). Today, such blockchains as Cardano, Binance Chain, IOTA, Nano, TRON, TomoChain and Ziliqa work on the basis of PoS. And in December 2020, after several years of development, the Ethereum network also began the transition from PoW to PoS as part of the launch of the Ethereum 2.0 version.There is no mining in PoS. Instead of solving mathematical problems, new coins are mined through staking-a mechanism that allows adding new blocks by proving ownership of the cryptocurrency of this network, which was previously also called forging. The nodes of such a network are called validators,and their balance is called a steak. The more coins a node has in its wallet, the more chances it has to confirm a new block and get a reward.Thus, staking can be compared with a bank deposit. The more coins are frozen in the network, the higher the reward. For validators, this is an opportunity to earn passive income.But staking, as well as mining, requires expenses and technical knowledge. To become a validator, you need to have the minimum required number of coins. For example, in Ethereum 2.0, this is 32 ETH (about $41,000 at the current exchange rate). These coins must be kept locked in the wallet for at least several months. You will also need to configure the equipment and keep it constantly connected to the network.The main advantages of the PoS algorithm:Low power consumption compared to PoW algorithms;No special equipment is needed (miners);High speed and scalability. For example, the speed of the TRON network is 2,000 transactions per second;Low commissions;Participation in the development of the project. Validators should take part in voting on the future development of the project.The main drawback of the PoS algorithm is the threat of centralization. The validators with the most coins will eventually control most of the network. Therefore, in recent years, blockchain developers have introduced new versions of the PoS algorithm, which will be discussed below.Proof-of-Authority (PoA)Proof-of-Authority is a consensus algorithm that takes into account the "merits" and the rating of validators. It is considered an effective mechanism for private blockchains, was first conceptualized in 2014 by one of the creators of Ethereum, Gavin Wood, and has been used for several years in the Microsoft Azure cloud platform, which includes more than 200 products and services.PoA is a kind of attempt to combine PoW and PoS. There is no mining at all, and, therefore, there is no race of computing equipment, as well as huge energy costs. In PoA, validators do not use the power of the equipment or the number of coins to generate blocks, but their own reputation.Thus, a fixed number of validators who were selected by network participants or project developers are responsible for the network performance. This approach guarantees high transaction processing speed and good scalability. At the same time, validators are interested in ensuring that their work is honest and transparent, otherwise they will lose their status and reputation as a reliable network participant.The main disadvantage of PoA is the possibility of excessive centralization and the lack of motivation of users who do not receive remuneration for mining or staking. Moreover, within the framework of classical PoA, an ordinary user cannot influence the operation of the blockchain network in any way, since this is done by trusted nodes, usually belonging to the same company.Crypto projects using PoA are well aware of the disadvantages of consensus and try to circumvent them in various ways. For example, the developers of the UMI cryptocurrency, in an attempt to get rid of the restrictions of PoA, created their own variation of this algorithm. The main differences between the PoA mechanism in UMI and the classic PoA are decentralization and staking.Decentralization is achieved by dividing the nodes into two key groups:Master nodes - create blocks and confirm transactions. This is the UMI team and the main partners of the project;Validator nodes - ensure the network performance, check the correctness of blocks and monitor the operation of master nodes. Anyone can run such a node.The reward for maintaining the UMI network is available through staking. But since there is no staking in the classic PoA, the mechanism is implemented in UMI using a smart contract. A smart contract is a special program on the blockchain that automatically performs specified actions when pre-specified conditions are reached. The smart contract in UMI ensures the fulfillment of all conditions, the correct operation of the staking and accrues rewards 24/7.Here are other features of UMI staking that were achieved thanks to the smart contract:There is no need to freeze coins during staking. They can be withdrawn at any time without losing interest;Coins are credited immediately to the wallet of users who have full control over their assets;There are no requirements for a minimum stake — a user with any balance can start staking and generate new coins;Security and accessibility for everyone. The user does not need to start the node, configure the equipment and network parameters, understand the technical nuances. It is enough just to connect to one of the existing staking pools in a couple of clicks (today there are two of them: ROY Club and ISP Club) or create your own. At the same time, the pool creators do not have access to user assets, only the users themselves have it;Staking is provided with liquidity in bitcoin. In a glass on a crypto exchange SIGEN.pro More than $12 million has already been raised to support the UMI course. These funds support the exchange rate of the coin and do not allow it to fall below $0.95, while nothing prevents the UMI rate from growing.Thanks to this, the UMI ecosystem has become a unique decentralized environment for the crypto market, allowing any participant to transfer coins inside the network for free and multiply them with the help of staking, which brings up to 40% of new coins per month.At the end of 2020, the test version of the updated UMI network took the 4th place in terms of speed among other blockchains, and the average time for generating a new block in the latest version is only 1 second. Soon these changes will be integrated into the main network. All this makes UMI the optimal blockchain environment available for truly mass use. So, already now the speed of the UMI blockchain is 4,369 operations per second, after the upcoming updates it should increase to 65,535, and potentially it can reach 1 million tps and higher.Delegated Proof-of-Stake (DPoS)Delegated Proof-of-Stake (DPoS) is a type of PoS algorithm created by developer Dan Larimer in 2014. DPoS was conceived as an alternative to PoW and PoS. Its purpose is to deprive validators of the possibility of centralization. Among the well-known blockchains on DPoS: EOS, Steemit and Tezos.DPoS is a more democratic version of Proof-of-Stake. The main difference between the two algorithms is that in DPoS, coin holders (witnesses) transfer their right to approve operations and receive a reward, that is, they delegate their vote to a pre-selected validator (delegate).Any user of the network can become a delegate. But at any time, witnesses can withdraw their vote — this way allows you to avoid excessive centralization and seizure of the network by unscrupulous participants.Delegates are united in a special pool that has the right to make changes to a number of network parameters: the time of extraction of new blocks, their size, and so on. But delegates cannot cancel transactions or perform false operations. Therefore, the witnesses still have power over the network.The main advantages of the DPoS algorithm are high speed and greater scaling. There are significantly fewer nodes running on the network than in PoW or PoS, which allows you to quickly create new blocks.Among the disadvantages: with low activity of network participants, the threat of centralization remains, and it is also possible to conduct DDoS attacks and unfair behavior of delegates, which can cause network failures.Leased Proof-of-Stake (LPoS)Leased Proof-of-Stake is another version of the PoS algorithm developed specifically for the Waves blockchain.LPoS is designed to solve the problem of "property qualification" in the classic PoS, in which users with insufficient balance can not participate in staking and earn new coins. This turns into centralization.As part of the LPoS algorithm, any network participant can transfer their coins to validators, receiving a share of the profit in exchange. At the same time, the coins remain in the user's wallet, but they cannot be used, transferred or exchanged. The rental can be canceled at any time. It is profitable for validators to rent coins, as this increases their stake, and, consequently, the chance of a reward.This approach allows you to earn coins even with a small stake, but makes the network subject to centralization: validators can rent so many coins that they can control the network.Proof-of-Importance (PoI)Proof-of-Importance is another variation of the PoS algorithm developed for the NEM blockchain in 2015.Unlike classic staking, in PoI, it is important not only the number of coins blocked in the steak, but also the user's activity (the number of transactions), and the time of his stay in the network. The more active the user is and the higher his reputation in the community, the greater his income from staking. This encourages participants not to store coins in wallets, but to actively use them.In NEM, the mechanism for encouraging a staker (paying coins) is called harvesting. This is an algorithm for accounting for user activity and its balance. The accrued coins are first transferred to the user's passive wallet, and after the accumulation of "merits" are transferred to his active account. One of the conditions for starting the harvesting is a minimum steak of 10,000 XEM (≈ $2,400).Proof-of-Space (PoSpace)Proof-of-Space (also called Proof-of-Capacity, PoC) is an algorithm that uses hard disk space to confirm a block, and not the computing power of a computer. This is an unusual concept that promises high speed and democracy, but it has not received large-scale distribution among crypto projects. For example, such little-known projects as Burstcoin and SpaceMint work on this algorithm.The miner reserves a certain space on the hard disk for confirming blocks. First, sets of possible solutions to mathematical problems are generated in the hard disk, then mining itself takes place. The miner does not need to look for a solution to the mining problem — it already exists in the memory of one of the hard drives. The larger the disk memory, the more solutions can be stored there and the more chances that this particular miner will find a solution.The advantages of PoC are low energy consumption and the ability to mine from any device, even from a smartphone.Proof-of-Burn (PoB)Proof-of-Burn (proof of burning, PoB) is an algorithm that is an alternative to the classic PoW and PoS.The miner sends coins to a special address, to which it is impossible to find private keys. This means that you can't spend coins from this wallet either - they are burned. As a reward for this, the miner creates a new block and receives a reward for it in the form of new coins of the network. The more coins you burn, the higher the chances of getting a block reward.Advantages of the algorithm: low power consumption and cost-effectiveness, because you do not need to spend money on expensive mining equipment. In addition, if there is a continuing or growing demand, the algorithm can contribute to an increase in the value of the remaining coins -  because their number is constantly decreasing.The main drawback of PoB is that it is suitable only for mature projects in which the main issue of coins has already been completed, and they have something to burn. Therefore, the algorithm is not popular, but it is still sometimes used, for example, in the blockchain Counterpart (XCP).Proof-of-Elapsed-Time (PoET)Proof-of-Elapsed-Time (proof of elapsed time, PoET) is a consensus algorithm from Intel. It is considered one of the most balanced and perfect consensus algorithms and is used mainly by corporate blockchains, for example, Hyperledger.The principle of operation of PoET resembles a lottery. In each node of the network, a random waiting time is generated for a specific block - it is different each time. After that, the node is "frozen" (goes into the waiting period). The block is extracted by the node that has the shortest block waiting time. A special SGX system makes sure that all this happens really randomly.The main disadvantage of PoET is that it requires the mandatory use of an Intel Software Guard Extension processor that supports SGX.In conclusionAs the crypto market matures and blockchain technologies develop, new, more advanced consensus algorithms will appear and the current ones will be improved. They will offer the most optimal solutions to eliminate vulnerabilities and shortcomings of existing blockchain networks.It is likely that in the future, more and more blockchain projects such as UMI will begin to appear, where elements of different mechanisms for achieving consensus and receiving remuneration are successfully combined. This approach will allow you to take only the best of the mechanisms available on the market, minimizing vulnerabilities and increasing the efficiency of the ...