Rewards App Powered by Blockchain Technology to be Introduced in Ithaca

Rewardzzz, a rewards app that identifies itself as the “first universal points exchange” and is known for its reliance on blockchain technology and the crytocurrency Stellar, will be introduced in Ithaca this fall. Hunter Friedland ’19, CEO and founder of the tech startup, elaborated on how blockchain technology and cryptocurrencies function to explain how the app is meant to work. “Blockchain is the technology that powers all cryptocurrencies. Bitcoin, Ethereum, Ripple, et cetera. Each cryptocurrency is its own blockchain.

BENITEZ | The Real Cost of Bitcoin

Bitcoin mining consumed nearly one percent of the United States’ electricity last year. Globally, Bitcoin’s estimated yearly power usage is greater than that of Ireland, or 30 times more than that of Tesla vehicles. Considering this, one wonders whether the societal benefits of the world’s foremost cryptocurrency offsets its significant energy consumption, which expedites greater, existential risks like irreversible climate change. Does Bitcoin justify its power bill? First, while Bitcoin is often described as an emerging currency, its illiquidity — you can’t just buy groceries with it — makes it as an asset best-likened to gold.

CORNUCOPIA | Prof. Sirer Talks Ins and Outs of Bitcoin

Cornucopia is a biweekly podcast that covers research stories unfolding across campus. Join hosts Addison Huneycutt ’18 and Ali Jenkins ’18 as they dig into the juiciest discoveries they can find. In each episode, you’ll meet a researcher, chat with Addison and Ali and hear some corny jokes. Check out the science section of The Cornell Daily Sun for biweekly updates about the latest episodes. Queries relating to Cornucopia may be sent to cornucopiapodcast.cornell@gmail.com.