How Does Bitcoin Mining Work and Why is it Done?
The Bitcoin protocol is a very sophisticated mechanism for processing transactions in a decentralized fashion. Eliminating the middlemen in a transaction helps in giving more control to the individuals regarding how they want to manage their wealth. Mining is a central part of the Bitcoin ecosystem which could also seem somewhat complicated at first. Here…
How exactly is Proof-Of-Stake implemented?
Recently after Ethereum decided to shift to Proof-Of–Stake from Proof-Of-Work, it has garnered a lot of attention. It has emerged as a great alternative to the tradition; a Proof-Of-Work system. Being more energy efficient, lesser time consuming has made it an excellent choice. Before heading further, let us have a quick view of Proof-of-Stake….
Proof-of-Work versus Proof-of-Stake
Cryptocurrencies, one of the most searched words on any search engine has something more to it. In this blog, I will be highlighting about Proof-of-Work and Proof-of-Stake. What is the difference between the two and brief overview on the same? Before getting into the details of PoW and PoS, let’s understand quickly about mining. What…
Prominent Blockchain Patents
When a new revolutionary technology like Blockchain emerges, the world’s largest corporations rush in to incorporate its benefits into their everyday workings. We can see the same thing happening with how FinTech companies have responded to Blockchains. This is evident in the data that shows that the rate of blockchain related patents has nearly doubled…
Could the Blockchain be more revolutionary than the Internet?
The year 2017 has been all about Blockchain and Bitcoins. These topics have not only created a buzz in the market but have also forecasted the upsurge of new technological revolution. There is also a lot of discussion about how Blockchain is different from the internet, or it is going to survive? Some people believe…
How does Bitcoin Money Laundering work?
Despite the dozens of benefits that Bitcoins and the Blockchain Technology have to offer compared to the traditional banking system, there is a risk that Bitcoins can be used for money laundering. This is because Bitcoins are not linked to a person’s identity and only depend on the private key connected to the Bitcoin account….
What is the Best Strategy to Invest in Blockchain Technology?
The last couple months have seen an unprecedented level of interest in Blockchain Technology thanks to the multifold returns that many cryptocurrencies have seen in 2017. Investors are eager to be part of the Web 2.0 infrastructure that is being referred to as the “Internet of Money.” However, as with any other investment vehicle, cryptocurrency…
How Blockchain businesses make money?
The world is now talking about Blockchain. The rise of this technology brought with it many changes. One of it was many startups in the same domain.Many companies render this technology and are propagating the idea of using the same in different verticals. The question that pops up in mind is, how do these companies…
How Does Blockchain Use Public Key Cryptography?
Asymmetric cryptography or public cryptography is an essential component of cryptocurrencies like Bitcoin and Ethereum. These advanced cryptographic techniques ensure that the source of transactions is legitimate and that hackers can not steal a users funds. Here’s an in-depth look at how blockchains accomplish this with public key cryptography: What is Public Key Cryptography? Public…
What is the best open source option for a Bitcoin exchange?
The buzz around Bitcoin doesn’t seem to be taking a halt. If you want to get into digital currency, the first step is to buy it. When we are talking about digital currencies then, Bitcoin is the pioneer and is the most popular one. The coin came into existence in the year 2008. Despite being…
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