Displaying items by tag: ICO

Thursday, 27 August 2020

Bitcoin

Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto. The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundreds of other virtual currencies collectively referred to as Altcoins.

Source: https://www.investopedia.com/terms/b/bitcoin.asp

Published in ICO
Wednesday, 26 August 2020

Blockchain

A blockchain is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.

Published in ICO
Wednesday, 26 August 2020

DeFi

DeFi stands for Decentralized Finance. It enables a global, open alternative to every financial service you use today — savings, loans, trading, insurance and more — accessible to anyone in the world with a smartphone and internet connection. The world’s financial system needs upgrading. In an age of increasing globalization, money transfers still rely on outdated legacy systems. Payment solutions and financial services require numerous intermediaries and are often siloed. Most forms of currency are issued and controlled by centralized governments. 

More than one third of the world’s population is still unbanked and as such cannot partake in the global economy. Every year, migrant workers around the world spend over $38 Billion on transaction fees and currency conversion fees to send payments back to their families; total fees average around 7% of the payment amount. These high fees have a large impact on poverty and growth rates in developing countries.

Published in ICO
Thursday, 27 August 2020

Hyperledger

Hyperledger is a global enterprise blockchain project that offers the necessary framework, standards, guidelines and tools, to build open source blockchains and related applications for use across various industries. Hyperledger's projects include a variety of enterprise-ready permissioned blockchain platforms, where network participants are known to one another and therefore have an intrinsic interest in participating in the consensus making process.

Using the available components under the Hypeledger umbrella, a business can apply various modular blockchain solutions and services to significantly improve the performance of their operations and the efficiency of their business processes.

Source: https://www.investopedia.com/terms/h/hyperledger.asp

Published in ICO
Wednesday, 26 August 2020

Polka Dot

Polkadot claims it is the “next-generation blockchain protocol that unites an entire network of purpose-built blockchains, allowing them to operate seamlessly together at scale.” Polkadot allows any type of data to be sent between any type of blockchain, opening up a wide range of real-world use cases, including Lepricon’s. By bringing together the best features of multiple specialized blockchains, Polkadot paves the way for new decentralized marketplaces to emerge, offering a fairer way to access services through a wide variety of apps and providers. While blockchains have demonstrated great promise in several fields—Internet of Things (IoT), finance, governance, identity management, web decentralization, and asset-tracking, to name a few—design limitations in previous systems have largely hindered large-scale adoption. Polkadot’s design offers several distinct advantages over existing and legacy networks, including heterogeneous sharding, scalability, upgradeability, transparent governance and cross-chain composability. Polkadot provides unprecedented economic scalability by enabling a common set of validators to secure multiple blockchains. Polkadot provides transactional scalability by spreading transactions across multiple parallel blockchains.

Published in ICO
Thursday, 27 August 2020

Satoshi Nakamoto

Satoshi Nakamoto is the name used by the creator/s of the protocol used in the Bitcoin cryptocurrency. Though the name Satoshi Nakamoto is nearly synonymous with Bitcoin, the physical person that name represents has never been found, leading many people to believe that it is a pseudonym for a different person or group of people Satoshi Nakamoto in Context Satoshi Nakamoto is considered the most enigmatic character in cryptocurrency. To date, it is unclear if the name refers to a single person or a group of people. What is known is that Satoshi Nakamoto published a paper in 2008 that jumpstarted the development of cryptocurrency. The paper, Bitcoin: A Peer-to-Peer Electronic Cash System, described the use of a peer-to-peer network as a solution to the problem of double-spending. The problem – that a digital currency or token could be duplicated in multiple transactions – is not found in physical currencies since a physical bill or coin can, by its nature, only exist in one place at a single time. Since a digital currency does not exist in physical space, using it in a transaction does not necessarily remove it from someone’s possession.

Source: https://www.investopedia.com/terms/s/satoshi-nakamoto.asp

Published in ICO
Wednesday, 26 August 2020

Shard

A database shard is a horizontal partition of data in a database or search engine. Each individual partition is referred to as a shard or database shard. Each shard is held on a separate database server instance, to spread load. Some data within a database remains present in all shards, but some appears only in a single shard. Each shard (or server) acts as the single source for this subset of data.

Pramod J. Sadalage; Martin Fowler (2012), "4: Distribution Models", NoSQL DistilledISBN 0321826620

Published in ICO
Thursday, 27 August 2020

Smart Contracts

A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. While blockchain technology has come to be thought of primarily as the foundation for bitcoin, it has evolved far beyond underpinning the virtual currency.

Source: https://www.investopedia.com/terms/s/smart-contracts.asp

Published in ICO

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