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.

Cryptocurrency Market Analysis: 5 Biggest Gainers of April 2021
May 04, 2021 at 11:26
News
Cryptocurrency Market Analysis: 5 Biggest Gainers of April 2021
The entire market has registered significant growth during April 2021. The total cryptocurrency market cap increased by 18%. CoinIdol, a world blockchain news outlet, created an overview of the best performers of April among the top 100 coins in the global market.
Russia is Going to Establish a Special Department for Exploring Artificial Intelligence
May 01, 2021 at 12:54
News
Russia is Going to Establish a Special Department for Exploring Artificial Intelligence
Russia seems to actively explore innovative technologies. Now, the country wants to implement the means of artificial intelligence for pilotless aircraft. For this matter, Russia plans on establishing a special department for studying the technology.
VersoView: Building Brands and Communities with Unique Blockchain Publish, Engage and Reward AI Solution
May 01, 2021 at 10:10
News
VersoView: Building Brands and Communities with Unique Blockchain Publish, Engage and Reward AI Solution
Today's publishing necessitates the smooth transition from print to digital PDF-based formats for media consumption on multiple mediums.
The Pros and Cons of Automated Crypto Trading Systems
Apr 30, 2021 at 13:10
News
The Pros and Cons of Automated Crypto Trading Systems
Automated crypto trading systems are simply trading strategies created with the use of algorithms which execute trades on auto-pilot based on predefined rules.
OASIS Is Getting Closer: First-Ever Virtual Nightclub Will Be Rolled Out on Ethereum Blockchain
Apr 29, 2021 at 11:02
News
OASIS Is Getting Closer: First-Ever Virtual Nightclub Will Be Rolled Out on Ethereum Blockchain
With the widespread use of blockchain technology, online events seem to go mainstream. The first night club will be rolled out on Ethereum Metaverse. Is this the beginning of the real-life OASIS?
Digitization Trends: 2 US Cities Are Planning to Adopt Cryptocurrency in 2021
Apr 24, 2021 at 10:34
News
Digitization Trends: 2 US Cities Are Planning to Adopt Cryptocurrency in 2021
The nascent blockchain and cryptocurrency technologies offer great potential and various use cases. For this reason, they are being closely looked at, especially amidst lockdowns and general digitization. Thus, since 2021 began, two cities in the United States announced plans to employ innovations to the benefit of their citizens.
A Seller’s Dilemma in e-Commerce and Blockchain
Apr 22, 2021 at 10:30
News
A Seller’s Dilemma in e-Commerce and Blockchain
The E-Commerce Industry has seen tremendous growth in the past years. Despite the COVID-19 outbreak that was believed to bring the sector to its knees, many businesses and customers have shifted towards e-commerce, resulting in the exponential growth of a digital ecosystem. This emerging growth in the industry is expected to accommodate the need of millions and millions of users to buy and sell seamlessly over online platforms.
Singapore Enters the ASEAN Blockchain Consortium to Promote Awareness About Innovations
Apr 21, 2021 at 14:21
News
Singapore Enters the ASEAN Blockchain Consortium to Promote Awareness About Innovations
On April 21, the Singaporean Blockchain Association signed a memorandum of understanding with five other countries across the Southeast Asian and Pacific regions. The aim was to create a consortium and promote education on blockchain and decrease cautiousness about cryptocurrency.
Why Players Are Switching to Crypto Games
Apr 20, 2021 at 17:37
News
Why Players Are Switching to Crypto Games
Blockchain technologies have already been incorporated in most industries, and the online gambling sector has not been left behind.
1 2 ... 208