You may have heard the term “blockchain technology” before, in reference to Bitcoin and other cryptocurrencies. For the uninitiated, the term might seem abstract with little real meaning on the surface.
If you’re new to cryptocurrency, your first question is probably “what is Bitcoin?”. The short answer is that Bitcoin is a cryptocurrency or digital asset made secure by cryptography. Bitcoin and most (but not all) other cryptocurrencies use blockchain technology.
By now I'm assuming we all have a fundamental understanding of what Bitcoin is: digital money regulated and distributed with encryption techniques, stored on a ledger independent of a centralised bank. Something like that. Maybe go here for a better explanation.
Bitcoin miners will guzzle more electricity this year than some countries do, according to new numbers from a leading researcher. And while some critics take issue with these figures, few disagree that the digital currency's energy use is a problem that's only getting bigger.
The proof of stake system is attracting a lot of attention these days, with Ethereum switching over to this system from the proof of work system. Proof of stake is an alternative process for transaction verification on a blockchain.
The history of Bitcoin is interesting. It has its origin in 2008, which almost saw a complete breakdown of the US financial system. The fundamental cause of this breakdown was that financial institutions stopped trusting each other and the flow of money stopped.
A plain-language explanation of the Lightning Network, a protocol for scaling and speeding up blockchains. While it was designed to solve some of the technical limitations of the Bitcoin blockchain, it can be implemented on top of any blockchain.
Amidst the buzz and excitement of the Bitcoin community, the occasional headline of an exchange getting hacked makes every Bitcoin user’s stomach churn. One of the biggest concerns many of us have is getting our Bitcoin and other cryptos snatched right underneath our noses by hac(...)
Today’s post is about the best Desktop wallets available for storing your Bitcoins. Desktop wallets are wallets that store the private key for your Bitcoins on your hard drive. By nature, desktop wallets are more secure than mobile wallets (since they’re harder to steal).
The purpose of this document is to discuss the origins, developments, and economic issues of blockchain technology as well as the industry opportunities presented by different forms of distributed ledger systems. The engineering of digital currencies’ blockchains are presented be(...)
Blockchain is changing the way we do business, and it’s just getting started. If you’re looking to learn about blockchain and how to incorporate it into your industry, you’re in the right place. In 2016, tech and finance companies alone invested $1 billion in blockchain.