Hello steemian ...

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This is my new post in the Steemit Crypto Academy community, on this season 4 week 5, I will be working on a homework from professor @imagen with the theme "Bitcoin's Trajectory”.

we will discuss it through the homework below:

1.) How many times has Bitcoin been “halved”? When is the next expected? How much do Bitcoin miners receive today? Name at least 2 cryptocurrencies that are or have been "halved".

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How many times has Bitcoin been "halved"?

Bitcoin halving Every 4 years, halving means that the bitcoin reward that will be given to miners will be reduced by half. Currently, the halving has occurred several times, the first being in 2012 where the bitcoin reward which was previously 50 BTC per block later became 25 BTC per block. The second is 2016, the reward is "halved" to 12.5 BTC per block, and the last is in 2020, the bitcoin reward is 6.25 BTC per block. It is estimated that bitcoin will end its halving in 2140.

When is the next expected?

Furthermore, it is estimated that bitcoin will experience a halving in 2024 as it follows a 4-year cycle. It is estimated that at that time the reward that will be received is 3,125 BTC per block.

How ​​much do Bitcoin miners currently receive?

The reward that miners currently receive is 6.25 BTC per block, this is based on the halving that occurred in 2020.

2 cryptocurrencies that are or have been "halved".

The 2 coins that have halved are BTCV (Bitcoin Vault) and ELCASH (Electric Cash). Different from Bitcoin, BTCV halving once every 6 rounds, starting from 2019 and ending in 2024. Meanwhile, ELCASH coins have halving once a year, starting in 2020 and ending in 2030.

Source

2.) What is a consensus mechanism? How are Proof-of-Work and Proof-of-Staking different?

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understand the consensus mechanism

The consensus mechanism is a computer algorithm used in the blockchain system to approve and validate every new transaction data entered in the blockchain system. In the blockchain world, there are many consensus mechanisms such as Proof-of-Work, Proof-of-Stake, and others.

understanding of the Proof-of-Work consensus mechanism

Proof of work is a pioneering type of consensus mechanism. Proof of work can be said to be a system used in generating or validating any old coins such as bitcoin. The proof of work system is the mechanism used for mining the first generation of coins. The way this mechanism works is that miners are required to validate coin transactions by solving complex puzzles and complex mathematics, if the miners complete the validation of the transaction, the miners will be rewarded in the form of coins on the network. Miners will use their computer power to carry out mining activities so that the power of the computer is very influential on the success of mining.

understanding of the Proof-of-Stake consensus mechanism

Proof-of-Stake is a slightly different mechanism to Proof-of-work. This mechanism does not require miners to solve complex mathematical puzzles and does not require miners to have strong computer power either. Most Proof-of-Stake systems make mining easier and more interesting, usually, mining can be a fun game. For transaction validation activities, the proof-of-stake system is determined by the oldest and most coin holders, they are called validators.

Proof-of-Work and Proof-of-Staking differences

Proof-of-Work and Proof-of-Staking consensus mechanisms differ in many aspects. From aspects of how to mine coins or how to validate transactions Proof-of-Work requires miners to solve complex and complex math puzzles while Proof-of-Work only requires validators who have the most and longest coins to validate transactions. From energy and resource efficiency aspects Proof-of-Work requires more resources because it requires a lot of electricity and high computing power, while proof-of-stake is more energy-efficient and environmentally friendly because it does not require electrical power. many and tall computers. From the aspect of ease of getting coins Proof-of-Stake is easier because it doesn't require solving complicated and complex math puzzles, even most of them are easy and fun games. Meanwhile, proof of work has more difficult because it has to solve difficult puzzles.

3.) Enter the Bitcoin explorer and show the hash corresponding to the last transaction. Show Screenshot.

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In this question, I will use the website https://blockchair.com/id/bitcoin/mempool/transactions to show the hash corresponding to the last bitcoin transaction.

Based on the screenshot above, we can see that the transaction hash of bicoin is 7369fb07d947c24e56db16ec99c3bdeb61832a7763dd2e13461c8bb6d181fb85
with the breakdown time 2021/10/04 07:52:01 UTC.

4.) What is Altcoin Season? Are we in Altcoin Season? When was the last Altcoin Season? Name and show 2 Altcoin charts followed by their growth in the latest Season. Give reasons for your answer.

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Altcoin season understanding

Altcoin season is a season where alternative coins show significant growth and increase with excellent performance and are even able to compete with top coins such as bitcoin and ethereum. A new season can be called altcoin season if 75% of the top 50 alternative coins have better performance and performance than bitcoin, in 90 days.

Are we in Altcoin Season?

Based on the website https://www.blockchaincenter.net/altcoin-season-index/ which shows data about the Altcoin index, the data is as follows:
Based on the screenshot above, it can be seen that over 90 days only 49% of the top 50 alternative coins performed better than bitcoin. From this conclusion, it can be seen that this is not altcoin season.

When was the last Altcoin Season?

Based on the website https://www.blockchaincenter.net/altcoin-season-index/ which shows data on the Altcoin index, it is known that the last altcoin season ended on June 20, 2021. At that time during 90 days, 80% of the top 50 alternative coins have better performance and performance than bitcoin. The altcoin season began on March 26, 2021, during which over 90 days 78% of the top 50 alternative coins performed better than bitcoin.

2 Altcoin charts

1). AXS (Axie Infinity)

Based on the website https://www.blockchaincenter.net/altcoin-season-index/ about the Altcoin index, it shows that AXS (Axie Infinity) is the best performing altcoin this season with a growth rate of 913%. First appeared 11/5/2020 for $ 0.15 now on 10/5/2021 the price has reached $ 150.87. based on the graph movement that continues to increase, it is estimated that in the latest season AXS (Axie Infinity) will continue to experience significant growth.

2). Solana (SOL)

Based on the website https://www.blockchaincenter.net/altcoin-season-index/ about the Altcoin index, it shows that Solana (SOL) is the 6th best performing altcoin this season with a growth rate of 354.4 %. First appeared 11/4/2020 for $ 0.78 now on 10/5/2021 the price has reached $ 166.84 with an All-time high of $ 191.4. Based on the graph movement that continues to increase, it is estimated that in the latest season Solana (SOL) will continue to experience significant growth.

5.) Make purchases from your verified account of your preferred exchange of at least 15 USD in a currency that is not in Coinmarket's top 25 (SBD, Tron ​​, or steem are not allowed). Why did you choose this coin? What is the goal or purpose behind this project? Who is the founder/developer? Show ATH currency and current price. The reason for your answer. Show Screenshot.

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purchases from your verified account

On this question, I will purchase my Upbit account. I am going to purchase GRT coin (The Graph), currently, its rank on the coin market cap is 46. I bought at 250,000 IDR (17.5 USD) and got 23,256 GRT (current price 1 GRT = 10,750 IDR).

Why did I choose this coin?

The reason I chose the GRT (The Graph) coin is because of the growth and development of this coin which is quite good in its class. Although currently, the GRT (The Graph) coin is not in an All-time high condition, this coin is one of the coins that continues to show progress this season. GRT (The Graph) has entered the ranks of the 50 best-growing coins although it has not been able to beat bitcoin's performance. the development of GRT (The Graph) in the past 90 days is 6.1%. In addition, the reason I chose this coin is also that the price is still relatively cheap at $ 0.7357.

What is the purpose or objective behind this project?

The main goal of The Graph project is to create a sophisticated ecosystem and make Web3 accessible cheaply and also with smooth and hassle-free Dapps with DLT architecture. Launching from the official page, the goal is to make it easy for everyone to publish and create open APIs (subgraphs), thus making data easily accessible.

All Time High GRT and current prices

Based on the TradingView website, the All-time high price for the GRT (The Graph) coin is 2.8815 USDT, which occurred on February 12, 2021. The current price, namely October 5, 2021 (12.00 UTC) it is 0.7853 USDT.

6.) Conclusion

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Bitcoin has an important role in the advancement of cryptocurrencies around the world. Every halving event usually signals momentum for skyrocketing cryptocurrency asset prices so traders should not leave this opportunity.

In addition to the halving season, there is also an altcoin season that traders should take advantage of. At that time alternative coins performed much better than bitcoin so trading with alternative cryptocurrencies at that time was very profitable. For this reason, traders must be observant to read the market situation, not only by looking at and analyzing chart movements but also having to look at the potential for a profitable season.

Reference

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https://www.luno.com/blog/id/post/cek-fakta-bitcoin-halving#:~:text=Bitcoin%20halving%20diperkirakan%20akan%20terjadi,bersama%20dengan%20sesama%20penggemar%20Bitcoin.
https://www.cloakcoin.com/id/learn/pow_pos
https://blockchair.com/
https://www.blockchaincenter.net/altcoin-season-index/
https://coinmarketcap.com/
https://www.invesnesia.com/the-graph-grt#Simpulan
https://www.tradingview.com/