Blockchain

The crypto world is growing, and blockchains are increasingly facing scalability issues as crypto adoption increases. For instance, Bitcoin is currently the largest crypto market capitalist, completing more than 250 000 transactions daily. However, due to its vast growth, bitcoin's network experiences regular downtimes.  However, bitcoin is not the only blockchain with scalability issues; Ethereum, the second-largest crypto market capitalist, faces similar issues. The scalability problem is, therefore, menacing the entire crypto world and requires urgent solutions.  A new algorithm…

Since the first light of personal computers, analogies have played a crucial role in mapping the physical world onto the digital one. Your private computer stores data in files, which are then unionized in folders; if you open a file, a window shows up, and when you close the windows, you will see your desktop. Similar analogies are in use on cryptocurrencies whereby money is in store in wallets, which is not technically a wallet. It is a pair of…

R3 is a consortium of about 200 firms coming together to research and develop distributed database models somewhere along Bitcoin's lines. Usually, they receive a lot of heat as they say they are researching a corporate or private model of "Blockchain" but are developing a version of Distributed Ledger Technology (DLT). This debate between a Public Blockchain and a Private Blockchain (yes, it's an oxymoron) is the center of great distress. Another such debate that hasn't reached the mainstream yet,…

Blockchain oracles continue to drive innovation in new and exciting ways. Oracles are third-party data monitoring protocols or hardware that provide blockchain networks access to external information. Oracles allow blockchains to be more responsive and agile to the conditions of their environment. As such, oracles are now one of the most exciting areas of blockchain development.  Before the invention of Oracles, the blockchain and the real world were disconnected. As a result, smart contracts were unable to monitor real-world data reliably.…

Blockchain is a distributed, decentralized public ledger, which is a continuously growing list of records stored in the form of blocks. These blocks in a blockchain are connected through cryptography, which keeps the transactions' confidentiality intact. A blockchain is a time-stamped series of immutable (tamper-proof) records of data, which is not managed by a central authority but by a computer cluster. Every data shared on a blockchain is visible to all participants, and everyone is accountable for their actions. A…

Cryptography is essential for preventing cybercrime and ensuring that delicate information does not reach unauthorized people. Sensitive information may entail data on online payments, emails, internet banking, and even private and service message exchange. There is extensive internet use and, in return, much data on networks, including sensitive information. Therefore, to protect your confidential information from unauthorized personnel, you must implement sophisticated systems to ensure your data's high privacy level.  What, then, is cryptography, and why is it important? What…

The increase in the number of cryptocurrencies affords the consumer a more extensive choice of coins. However, exchanging them when needed proves a tedious affair due to the different blockchain technologies.  Usually, the parties will have to find a third entity, such as a cryptocurrency exchange, to act as the transaction's trustee. Consequently, it could be expensive and time-consuming as not all cryptocurrency exchanges support all coins. Therefore, the only recourse is migration of accounts or sourcing for intermediary currencies.…

The gambling industry is growing exponentially globally. In 2022, revenues from gambling reached $747.9 billion, estimated to surpass $850 billion by 2026. Betting and gambling online through iGaming isn't too far behind in this trend. In addition, cryptocurrency technology is bringing a new wave of advancements in the iGaming industry. While sometimes used interchangeably, there are several significant differences between iGaming and traditional gambling. iGaming is more accessible than conventional gambling and is available day and night. Furthermore, iGaming offers a variety…

Since the launch of the first blockchain-based system, many others have followed, and the crypto industry has continuously grown. However, blockchains aren't similar and come with different strengths and weaknesses. For example, Ethereum, launched in 2015, has excellent smart contract advantages but severe scalability issues over the years. All the blockchains, though, face a lack of interoperability challenges. Is there a possibility of having a system that allows users to use the strengths of different blockchains simultaneously? In recent years…