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Blockchain

Confidential Transactions

Among the numerous technological advancements of cryptocurrency, nothing has quite captured the interest of the users as much as the promise of truly private payments. However, cryptocurrencies have always been pseudonymous by nature which mean users use a pseudonym instead of their real identity...

Is Blockchain aggressively paving its way into Government projects?

Governments across the world are all set to adopt the disruptive Blockchain technology. The seismic shift is being led by the Australian Government, the US Government and some of the Asian nations. While the use cases differ, the benefits derived remain the same. The Blockchain is making a mark for being highly transparent, immutable, and...

Who should take advantage of Blockchain pruning?

Blockchain pruning is a concept that is developed by Bitcoin developers to address the issue of Bitcoin scalability. This blog will try to shed light on which groups of Bitcoin community will be benefitted by Blockchain pruning and which would prefer to stay away from it?...

When AI meets Blockchain

Blockchain is believed to have the same potential as the internet that can open doors to creative possibilities and unimaginable boulevards for innovations. It is a distributed, immutable, trustless and secure database that is accessible by all the parties present in that distributed network...

What is Lightning Network?

he first public comment made on Bitcoin after it was first proposed by Satoshi Nakamoto in 2008 was by James A. Donald. It was “the way I understand your proposal, it does not seem to scale to the required size”. A decade later, his words still hold true and the problem remains the same...

What is Data Sharding?

Sharding is the term given to a method used in databases that increases their efficiency. A horizontal portion of a database that is stored in an individual server instance is called a shard. By sharding data, data load is spread across servers evenly, making the database function more effectively...

What is Blockchain Pruning?

The block size of the current Bitcoin network, i.e., 1MB is not enough to store the huge number of transactions that are taking place on its network at the present time. This is causing delays in transaction validation because of the extended waiting period caused due to the formation of next network block...

What is smart contract?

A smart contract is the term given to a code that runs on Blockchain, binding the two involved parties in its creation to the mutually agreed set of rules. It is automatically enforced when the previously mentioned conditions are met by both the parties. A smart contract basically facilitates, verifies and enforces the defined conditions or...

What is Raiden Network?

The Raiden Network is the Ethereum version of Bitcoin’s Lightning Network, which enables instant, cheap, scalable and private payments between two parties. It is an off-chain solution for making ERC20 token transactions...

Blockchain Wins Financial Wars with Smart Contracts

The Blockchain technology is taking over the financial market with immense acceleration. Blockchain has multiple advantages over the traditional banking system, some of them ...

What is Practical Byzantine Fault Tolerance (PBFT)?

Apps to make data secure and immutable are rolled out every other season. The benefits of using Blockchain Technology overrides these issues to a large extent. Every block in a Blockchain uses a consensus mechanism to derive an outcome by achieving a consensus among...

What is Delegated Proof of Stake?

DPoS is a consensus mechanism to enable real-time voting to elect the transaction validators instead of making miners solve mathematical puzzles. The immediate benefit of such a voting based validation of transactions saves a lot of computation power and elec...

Proof of Stake

The huge electricity bills incurred due to mining of coins using Proof of Work consensus mechanism prompts the miners to sell off their cryptocurrency to pay for the bills. This causes a depreciation in the value of the currency which ultimately results in low profitability of mining. To counter this disadvantage, Proof of Stake consensus mechanism...

Proof of Work

The decentralized and self-regulating systems of a public Blockchain have operations spread across borders. Unlike centralized systems, Blockchains are not regulated by a single authority which controls and authorizes every transaction that is updated on the network. These...

Types of Crypto Wallets

There were 300,000 cryptocurrency wallets in the world as reported by Statistica in the first quarter of 2015. Now the number has risen to approximately 30 million, a 900% increase in total. While the number of crypto wallet holders and cryptocurrency users continue....

Cryptocurrency exchanges

Cryptocurrency exchanges operate like stock or currency exchanges where the exchange of one currency for another takes place. Using this platform, users exchange one cryptocurrency to another or for fiat. Furthermore, these exchanges are used for buying and selling ...

What is cryptocurrency wallets?

A Cryptocurrency wallet is a software program which enables a user to send, receive and monitor cryptocurrencies. Using a Crypto Wallet, one can transfer cryptocurrencies, purchase coins and tokens, pay bills, online...

What is Private Key?

A crypto private key is like a password that one uses to access his wallet where he has kept his cryptocurrencies. It is alphanumeric in nature and is encoded in different formats depending on the wallet one uses to store the cryptocurrency. This private key is the core element that enables a person to make irreversible transactions that are linked...

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