Blockchain

The clever use of smart contracts has contributed significantly to the exploding popularity of blockchain technology. Computer scientist Nick Szabo proposed a smart contract as a collection of instructions executing automatically. This technology aims to make contract execution as automated as possible. Many know how basic smart contracts work, but finding a guide on their advanced versions is rare. After a basic overview, we will analyze two typical cases of advanced smart contracts. For simplicity, the article will not deal…

One of the critical difficulties confronting the blockchain community is the matter of scalability. While the technology has proven its high potential over the years, several aspects limit its applicability to a large scale. Since humankind developed the first technological inventions, the scalability problem has been on our minds. We'll expand on that in this post, looking at the case of Layer 2 blockchains. Layer 2 (L2) blockchain definition The "Layer 2 blockchain technology" concept is gaining traction on the…

It has been a few years since the topic of blockchain technology invaded the market for the first time. Today, people are gradually learning to see a blockchain and a cryptocurrency as two distinct concepts. The technological and financial culture is growing, and, as a result, the industry is attracting more developers and users. Among the many consequences of this trend, we find the appearance of new tools. Today we will talk about one of the many new applications of…

The cryptocurrency world continues to see new developer ideas enter the market. Today, we will simplify a technical aspect: Hyperledger Fabric technology. Any reader interested in learning about the most complex aspects of the topic can refer to the official documentation. This article will analyze this system's main elements, highlighting important criticisms in the sector. Understanding Hyperledger Fabric Let's start, first of all, by understanding the origin of the instrument name: Hyperledger is an open-source distributed ledger system. A group…

The replay technique is among the many attacks that have made hackers rich over the years. The phenomenon was born before the invention of cryptocurrencies and has grown recently. This article will deal with various aspects related to the topic. First of all, it will be helpful to understand how a typical replay cyber attack works. Secondly, we will focus on how a criminal can use this technique in crypto. There are several user protection techniques, and every reader must…

As the blockchain industry grows, we see an increase in the imagination of hackers. The first scams in the sector appeared somewhat naive. Today, we are witnessing the emergence of increasingly complex techniques. With the refinement of hacking methodology, it is increasingly more work for users to avoid cybersecurity traps. This article will discuss eclipse attacks and criminal mechanisms that attack blockchains. The direct victim of the attack is not, in this case, the end-user. However, as we will explain,…

The growth in popularity of cryptocurrencies is now evident to everyone, enthusiasts, and skeptics. However, among the many consequences of this phenomenon are aspects related to criminal activity. Several reports demonstrate the increase in crypto-related criminal activity in 2022. Among the many operations criminals use, the so-called "honey pot" is one of the most widespread. After a necessary premise on smart contracts, this article will explain how a honeypot works. But, more importantly, we will see how the world is…

When the world first learned about cryptocurrencies, we discovered the Proof-of-Work (PoW) protocol. Over time, superior technologies have introduced greater efficiency in this area. An example of such growth comes from the increased use of the Proof-of-Stake (PoS) protocol. The evolution of this system leads to the birth of more eco-friendly cryptocurrencies with faster transactions. Those who have dared to explore ways other than PoW have launched a new trend in the sector. Today many blockchains are trying to put…

The cryptocurrency trading revolution exploded more than ten years ago and led to an almost unprecedented economic and financial earthquake. As a result, people are learning to change their approach to payment and investment systems, pushing up the price of many cryptocurrencies. Such a rapid change has been noticed on the boards of the world's major central banks. In fact, in an increasing number of countries, central banks are working on launching centralized digital currencies, known as CBDC. This article…