Your understanding is correct.
Relativistic mass increases the faster the moving object gets. That in turn means more energy is required to accelerate an object the closer it gets to the speed of light.
Fun fact: the speed of light is not as absolute as it might seem when looking at relativistic effects. In media with a refraction index above 1 (only perfect vacuum has a refractiom index of 1), the speed of light equals 1/(refraction index).
For light moving in water that results in a speed of light of around 3/4 the speed of light in vacuum.
You can look how much space a transaction requires, how much size is available per block and how many blocks per time are being created (at average).
The only way to exceed the figure is by creating transactions with 1 (or few) input(s) and a lot of outputs as they are more efficient in terms of space per tx. Individuals rarely have use for that, but exchanges tend to do that.
If you want to do your own research, start with the fundamentals and investigate the numbers (size per tx depending on type of tx, size per block, blocks per time).
Shall I add the mountain of electronic waste to the list?
I mean, Bitcoin mining devices can literally do nothing else but calculate SHA256.
Once they can no longer be operated economically, they're garbage.
At least Ethereum's PoW ran on GPUs, which can be used for, let's say: gaming!
And Ethereum showed that a transition from PoW to PoS is possible.
I think that Bitcoin sparked a great idea, but way better implementations of that idea are available. Bitcoin has a massive network effect and first mover advantage. technology wise it's no longer on top of the list.
Prime numbers are searched for doing the PoW. The blockchain essentially contains a data base with prime numbers.
As far as I can tell Primecoin never was popular,.but I like the novel approach of doing things, when most cryptocurrencies of that time were lame copies.
Btw. the Primecoin creator made Peercoin, which was afaik the first (and apparently still running) network being secured by Proof-of-Stake.
It's a lot of energy for a global (!) maximum of around 7 transactions per second.
Unless you want to use the replica of traditional finance called Lightning Network. Then you have more transactions per second and a whole new set of drawbacks.
Not all crypto are the same. Nano has been designed as digital money.
It has no mining, 0 fees (none for transactions, none for opening accounts), finalizes transactions sub-second (typically), has no built-in throughput limits and works across (political) borders.
I'd say these attributes offer some use and value.
Nano has alwas has a computational part associated with transactions. It once was used to prioritize transactions. Nano has evolved to a different prioritization scheme. That computational part will be phased out.
The lightning network is a silly attempt to merge bad parts of cryptocurrencies with bad parts of traditional finance: you need the electric energy guzzling Bitcoin and middlemen just like in traditional finance - or would you care to open and close your own channels, pay watchtowers etc. or "simply" use the channels of middlemen?
And how would you have cheap transactions without those middlemen, if operating your own channels requires transactions on layer 1?
You replied to my comment, which was broader than Bitcoin alone; you could've considered that.
Not all cryptocurrencies are bad in my book. Let's agree to disagree.
So many words Bitcoin and so little about the idea behind it.
Are you aware that not each and every cryptocurrency that was created after Bitcoin is bad?
Although admittedly most are. Yet some took the idea further and implemented better versions of value transfer, that doesn't rely on middlemen.
Indeed it does use little energy, because its consensus is in some ways similar to PoS, so there's no mining involved. If you want to know more about it, have a look here: https://docs.nano.org/protocol-design/orv-consensus/
I believe that the Nano network can process around 100 transactions per second; at least that's a result from throughput tests I remember. That's way less than VISA can do, but a lot more than most other cryptocurrencies can process.
And in difference to the vast majority of cryptocurrencies, Nano has no built-in limits of transactions per second. As soon as hardware gets more powerful (faster CPUs, faster network connection, faster SSDs), Nano gets faster!
How would you construct a consensus in which contributors don't have a stake in the game?
How would it work and based on what incentive?
Why would they stay honest?
Because as soon as there's any stake in play, those with money will be able to get more of it.
I'm honestly curious and interested in viable alternatives.
In what way is Ethereum centralized?
The owers of ETH contribute to the consensus.
How would the foundation control any of that?
Mybe you confuse Ethereum with IOTA?
I beg to partly differ.
The idea of being able to transfer digital value safely without middlemen is great and has never been available before.
The implementation is bad in the sense that it's ecologically disastrous and economically unfit.
Your understanding is correct.
Relativistic mass increases the faster the moving object gets. That in turn means more energy is required to accelerate an object the closer it gets to the speed of light.
Fun fact: the speed of light is not as absolute as it might seem when looking at relativistic effects. In media with a refraction index above 1 (only perfect vacuum has a refractiom index of 1), the speed of light equals 1/(refraction index).
For light moving in water that results in a speed of light of around 3/4 the speed of light in vacuum.