The evolution of wages is a long and complicated story, but even if we were to examine its progression over the last half a century, we would see great changes.
Some fifty years ago, salaries came in pay packets filled with cash, and it was hard to imagine that people were ever paid in any other way, or that that would ever change. But, in time, it changed again, and people started receiving payments from their employers in the form of checks. These days, we wouldn’t dream of having our payments in any other way apart from online bank transfers. And, if you think about it, the goal seems to have been to move towards a payment method that would exclude cash. At the very least, you wanted to not have to carry huge amounts of it with you. Today, you can have entire bags of cash available on a single plastic card, which you can use for anything at any time.
With all of that in mind, the evolution of salaries could easily see yet another change in only a few years’ time, and this time, it could switch to cryptocurrencies.
For many years, Bitcoin has been accused for being a very dirty player by environmentalist when it comes to its electricity consumption. The entire Bitcoin network is estimated to consume as much as the entire country of Switzerland consume per year and the rapid emergence of Bitcoin and other cryptocurrencies has taken many in the energy sector by surprise. Because energy infrastructure is expensive and hard to build, questions about the consumption of energy the Bitcoin network uses are many and urgent due to analyzing the cost and environmental effects of the electricity system. In this article, I will touch upon some numbers and give my thoughts to this subject.
Nikolaj Rosenthal – CEO of Evonax.com
In may 2020, Bitcoin will experience its third seminal block reward halving, which means that the Bitcoin blockchain is set to reduce the amount paid to miners per block to 6.25 BTC. This means, that fewer BTC will be released to the eco-system everytime a new block is mined and will result in a lower supply of Bitcoins. It is a milestone that is easy to see coming because it happens every four years and has happened twice before.
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Cryptocurrency is a digital currency that is constructed with cryptographic rules. This helps to make the digital transfer secure and genuine. One notable thing about cryptography is that it is not controlled by any of the central authorities. This assists in easily conduct some transactions with ease through public and private keys.