Blockchain

A brand-new revolutionary technology is rapidly gaining momentum. The blockchain technology, which was created in 2008 to serve Bitcoin when it launched a year later, is being used almost in every corner of our world. 

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.” – wrote in an announcement Satoshi Nakamoto, a founder of Bitcoin. 

The blockchain is a public record of Bitcoin transactions in chronological order. The blockchain is shared between all Bitcoin users. It is used to verify the permanence of Bitcoin transactions and to prevent double spending. Majority of people use a trusted third party, for example, a bank to make a transaction. But blockchain allows both consumer and supplier to connect directly, eliminating the need for a middleman. 

How does Blockchain work? 

On a simple example, we will find out how this system works. Imagine you want to send Bitcoin (or some other cryptocurrency) to a friend, or sell it, that information will be available for every user on the blockchain. They might not know who you are, but they will know exactly how much trade coins have been transferred from one person to another.

2 Ways Scammers Justify Youtube’s Crypto Purge
Jul 13, 2020 at 12:47
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2 Ways Scammers Justify Youtube’s Crypto Purge
While many community members complain that YouTube is demonstrating hostility to cryptocurrency-related projects, scammers using the platform to trick people prove such measures are somewhat reasonable.
Celebrities Go Crypto: Jay Z and Will Smith Invest to Help Ethereum Developers
Jul 10, 2020 at 13:55
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Celebrities Go Crypto: Jay Z and Will Smith Invest to Help Ethereum Developers
As innovative technologies like blockchain and cryptocurrency gain popularity, they draw the attention of global celebrities from various fields. Now, a rapper Jay Z and a movie star Will Smith invested in a startup aimed at helping Ethereum developers.
Traditional Payment Giants Adopt Blockchain; Does This Mean the Merging of Two Worlds?
Jul 09, 2020 at 13:32
News
Traditional Payment Giants Adopt Blockchain; Does This Mean the Merging of Two Worlds?
The realm of traditional finance is in the vicinity of a transformation. As people seek for more convenient innovative alternatives, global payment giants are forced to explore these technologies to meet their users’ needs.
Rising Interest in Cryptocurrency Makes the Government of the Philippines Keep a Close Eye
Jul 08, 2020 at 13:23
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Rising Interest in Cryptocurrency Makes the Government of the Philippines Keep a Close Eye
As the cryptocurrency market has been attracting more and more users, governments are forced to watch over the industry to protect the citizens against numerous scams and risks. Thus, the government of the Philippines issued a warning against unauthorized Bitcoin and cryptocurrency projects that might be scams.
Blockchain And Beyoncé: How Digital Finance Can Shape The Face Of The Music Industry
Jul 08, 2020 at 10:33
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Blockchain And Beyoncé: How Digital Finance Can Shape The Face Of The Music Industry
Music has long been a unique, universally understandable way of self-expression. But it also goes a long way beyond art – music is also a large business which gives jobs to thousands of artists, producers, stage operators, designers, to mention only a few. Today, the music industry is shifting into the digital realm with a pace previously unseen.
Coinidol Experts' Club Membership a Stairway to the Runway of Mass Media Stars
Jul 06, 2020 at 15:01
Blog
Coinidol Experts' Club Membership a Stairway to the Runway of Mass Media Stars
Coinidol.com, the world blockchain news outlet, has launched a new project called "Coinidol Expert Club", that will help new names to rise among well-known world experts in the field of Blockchain, Bitcoin and Financial technologies. The names of experts, that enter the club, will become popular among the readers from 174 countries of the world that visit Coinidol.com 1 million times per month. The best members of Coinidol Expert Club will be quoted by authors of editorial articles on Coinidol.
Crypto Newbie: The Scary Word “Blockchain” and What It Means
Jul 05, 2020 at 11:34
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Crypto Newbie: The Scary Word “Blockchain” and What It Means
Blockchain has been a buzzword for a while now. However, only techies are able to actually understand what it means and realize all the potential of this technology. For common folks, it is just another “scary” word they hear every now and then without the slightest idea of its meaning. But what does it actually mean?
Vulnerability in Russian Blockchain Voting System Enables Forcing People to Vote
Jul 03, 2020 at 10:25
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Vulnerability in Russian Blockchain Voting System Enables Forcing People to Vote
The Blockchain-based voting system announced in Russia has a vulnerability allowing for decrypting votes before the official end of voting. This feature questions the anonymity of voting, thus making it possible to manipulate people’s votes by forcing them.
Crypto Nation Is Growing: Switzerland Improves Environment for Blockchain and Cryptocurrency
Jul 01, 2020 at 12:50
News
Crypto Nation Is Growing: Switzerland Improves Environment for Blockchain and Cryptocurrency
Dubbed Crypto Nation for its friendly stance for innovations including blockchain and cryptocurrency, Switzerland confirmed the name once more. A new legal package passed by the Swiss Federal Council is going to remove all existing legal barriers for startups.
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