Bitcoin, along with the rest of the crypto space, has been under scrutiny since the very beginning, this is not uncommon for new highly innovative technologies. The criticism aimed at digital currencies’ fundamentals isn’t coming from nobodies either, with Warren Buffet and Peter Schiff among the many outspoken Bitcoin skeptics. They believe Bitcoin has no […]
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What started as the support system for Bitcoin has now evolved to something far greater. Blockchain technology revolutionizes various technical and physical operations as its use continues to expand. What can blockchain be used for in today’s world? Some of the more common uses for blockchain are more apparent than others. transferring cryptocurrency securely was
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By simple definition, Cryptography is the art of writing or solving codes in order to transfer data securely. There are various ways in which this is done, and cryptography can be used for any digital properties: code, images, files, etc. One way cryptography protects data is through obfuscation – scrambled or unclear data – is
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One of Bitcoin’s qualities is that it has limited supply, the number being capped at 21 million Bitcoins. As of right now, 18.9 million have already been mined, leaving only 2.1 million left. Why is this important? Bitcoin’s network is maintained by the miners, who in return, earn rewards in BTC. This might sound worrying,
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The need to bring blockchains and networks together for practicality is more present than ever. With so many blockchains available yet disconnected, the ability and potential to take blockchain to a mainstream level is not recognizable. Interoperability is the operation of multiple blockchains working together. By accessing and sharing data cross-chain it makes the communication
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To validate and relay every transaction of cryptocurrency, a computer must be linked to that cryptocurrency’s network to support the verification process. This computer is a node. There are two types of nodes: full nodes and lightweight nodes. FULL NODES Each time a full node must verify a transaction, it receives a full copy of
Bitcoin Blockchain The Bitcoin blockchain is sometimes called the first generation blockchain because it was effectively the first-ever iteration of blockchain technology. This blockchain is essentially a decentralized peer-to-peer electronic transaction system, meaning individuals can transact directly with each other over the blockchain with no middle man. Bitcoin uses a specific verification method, more commonly
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EVERYTHING IS CHANGING, WHETHER YOU SEE IT OR NOT The internet plays a huge role in just about everyone’s lives these days. It’s been the centrepiece of a rapidly changing and evolving society. Web1.0’s simplicity mostly involved static information pages that you could browse but allowed no form of communication. Enter Web2.0 with the rise
Scalability. One of the biggest problems facing many of the popular and very useful blockchains like Ethereum is scalability. While the blockchains are popular, their systems can often not handle as much traffic, processing, and transactions as is required by the users. This is where layers come into play. The term “Layer 1” refers to
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RMRK – or remark – is a tricky one, but I’ll break this down as simply as possible. This is a metaverse based project offering an array of specific tools for use inside the metaverse. Some facts about RMRK: It was created in mid-2021 and is hosted on the Kusama network for now (Polkadots smaller
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