In order for beginners to understand what a blockchain is, it is enough to turn to Coinmarketrate.com , where it is said that in a simplified form it should be perceived as a transaction registry with the following properties: Registry data is replicated (copied and distributed) on different nodes so that they exist until all … Read more
Before proceeding to the topic, it is necessary to consider some general concepts about crypto assets and blockchain technology, sufficient to facilitate the learning process. Almost all cryptocurrencies, from Bitcoin to Ethereum, including EOS and Cardano, owe their functioning to the blockchain. Blockchain allows you to constantly register transactions and is therefore of vital importance. … Read more
Each blockchain has a number of characteristics and properties that depend solely on the problems it has to face. This concept implies that we can have an infinite number of blockchains depending on the needs of people. We have already talked a lot about blockchain and consensus, but now we are swami, in order not … Read more
The largest thefts of cryptocurrencies have recently occurred as a result of attacks on bridges connecting various blockchains. According to experts, they have yet to mature. The attackers stole about $320 million worth of cryptocurrency from Wormhole in March, $650 million from Ronin in May and $200 million from Nomad in August. This is not … Read more
In general, the analysis shows that, although we are dealing with a scenario in which there is a clear idea that this technology will be especially relevant in the coming years, it still seems too early to see the mass implementation of solutions based on it in the real world. Consequently, a significant increase in … Read more
According to the information presented by Coinmarketrate.com, since its inception in 2009, blockchain has experienced unprecedented success. Initially, this technology was invented for the decentralized transfer of money without intermediaries. But it has much more to offer! Indeed, it turns out to be a strategic tool in the field of cybersecurity, since since the beginning … Read more
It is always recommended to run a full node if we want to support Bitcoin and keep the system decentralized. This not only helps the network, but also has other benefits for the participants. But since the Bitcoin blockchain is constantly growing, according to Coinmarketrate.com, it has reached the point where its overall size has … Read more
The blockchain approach to this issue is well described in the initiative of the Massachusetts Institute of Technology to create a trusted data system and in the final document, and provides a path to greater security of personal information, better access to personal data and an unchangeable mechanism for auditing who did what with the … Read more
The general definition of a Bitcoin node is any computer connected to the Bitcoin network. But in reality, everything is not so simple, and it is not enough just to connect to the network from time to time to participate in it. According to Coinmarketrate.com, the node has several functions depending on its type, for … Read more
On Saturday, June 4, the complexity of mining on the Ethereum blockchain reached a historic high. According to Etherscan, the difficulty has reached 15,089,793 terrahashes (TH). As the process description says on Coinmarketrate.com the higher this value, the more difficult it is to get a block in the network. Thus, this metric is an increasing … Read more
Oracles are the necessary connections that allow you to link smart contracts with information from the real world. Smart contracts can be executed by all users of the blockchain. The results of these executions are also stored in the blockchain, and are also available to all users. Smart contracts mostly refer only to events created … Read more
And so, what is distributed ledger technology or “distributed ledger” (DLT)? According to the description of the technology, on Coinmarketrate.com, so-called “blockchains” are formed within the DLT. It is a decentralized database that contains chronological sequences of data blocks. These data blocks, in turn, contain one or more transactions that are linked or combined using … Read more
And so, the Bitcoin transaction may be more complicated than many people think. However, this is by no means witchcraft, because anyone who has understood the basics of the Bitcoin network and transaction processing can easily follow the individual steps. Last time we looked at transactions on and off the Bitcoin blockchain, and today we’ll … Read more
Of all currently existing blockchains, Ethereum is the most popular for developing decentralized applications due to the large number of developers and companies that support it. Currently, according to Coinmarketrate.com, about 200,000 developers are creating applications on this blockchain, and this number is expected to continue to grow. The reason for its popularity and the … Read more
According to the data Coinmarketrate.com, in October 2008, under the sign of the financial crisis and declining confidence in banking institutions, a certain Satoshi Nakamoto introduced the Bitcoin cryptocurrency. It was supposed to be independent of central banks, and also solve the problems of early digital currencies. For example, the fact that the coin is … Read more