Blockchain

Fork! The name itself sounds kinky. But it is what it is. In technology lingo, the word Fork describes anything diverging or cut off from existing software or code. But gradually, the definition has become much broader than it was initially used for. To fork means to change, differ, or diverge from something already existing, either upgrading and leaving the old stuff behind or starting something entirely new based on the previously existing rules. When it comes to ‘forking’ on…

Proof-of-Work, the mechanism to secure a decentralized network, was first introduced in the Bitcoin protocol in 2009. It was a revolution in its own right because of its ability to allow the flow of value and information over the internet without the risk of being attacked. Since then, Proof-of-Work or PoW has been implemented over various other protocols like Ethereum, Dash, Litecoin, and it has achieved great success. But as it is always said, there are always trade-offs. To help…

One of blockchain's roots is often forgotten from Yuji Ijiiri's breakthrough in 1989: triple-entry accounting. To understand what this means, let us take a step back and understand this hot topic's history. Initially, there was single-entry bookkeeping. Records were documented in a central book allowing kings and queens to manage their finances and build their empires. Whoever was in charge of the book had to be trusted by their superior since they could quickly cook the books for their benefit.…

One of the “killer applications” of blockchain technology is smart contracts. Smart contracts are regular contracts that enforce according to the agreed terms and conditions are written in the code. This is a “killer app” because it removes the middleman for services, just as Bitcoin eliminates the middleman for asset transfers. With smart contracts, intermediary services such as brokers and agents are made redundant instead of becoming a more expensive opportunity cost to using smart contracts. On the customer-facing side,…

With Blockchain technology came all sorts of intricacies and technical aspects that began to be developed, debated, criticized, and implemented. There isn't a single protocol, feature, or application that checks the list of any participant, and that's a good sign. Criticisms, most importantly constructive criticisms, pushed boundaries, stimulated innovation, and brought about progress. One such niche innovation to consensus mechanisms was the introduction of Masternodes. Masternodes are an added layer on the base layer consensus mechanisms. For instance, Dash is…

Initial Coin Offerings (ICOs) and Initial Exchange Offerings (IEOs) have been around for several years. They represent a viable form of raising money for companies developing blockchain-based projects. However, developers could not get enough of them for a long time. That is until Security Token Offerings (STOs) entered the scene and kicked speculative secondary markets in the teeth. We are now looking at a slow but steady fading of ICOs & IEOs as fundraising methods in favor of STOs. The…

Blockchain technology first appeared in the public spotlight in 2009 with the birth of Bitcoin. Since then, it has gone through several stages of development and innovation, and its future of potential applicability is brighter than ever. Numerous financial institutions and companies are testing the waters of blockchain technology. Some of them are knee-deep near the shores of predictability. Others are already backstroking in the distance. And on the waterfront, one can see the governments dipping in their toes and…

There is excellent market confusion about the distinction between different terminologies that keep floating around. Most people, some calling themselves seasoned professionals, cannot tell apart Bitcoin and Ethereum or the difference between a Blockchain and a cryptocurrency. Some even go to lengths to propose solutions for projections that do not even have problems. Let us hope the distinction between each is soon cleared. But, unfortunately, all the false promises and ill-informed market "experts" can divert their focus toward better understanding…

Blockchain technology is rapidly evolving and expanding its use in various industries. It has already rocked the financial sector and set its sights on changing the world as we know it forever. Blockchain surfaced as another nonconventional term in the technical dictionary that accompanied Bitcoin's inception more than a decade ago. At first, blockchain was part of the uncharted territory of the cryptocurrency world. Today, it is an established technology with a game-changing capacity and limitless possibilities for development. It…