Blockchain

About three decades ago, there was the inception of the dial-up-internet, then came the internet era, and now, the blockchain revolution is here with us. Today, about nine out of ten Americans use the internet, but a fascinating recent invention is the blockchain, the principal technology behind cryptocurrency. Still in its initial stages, mainstream blockchain adoption may be some years away. Nevertheless, some claim that its adoption will be as revolutionary as the internet. Over the years, many people have wondered…

There's a common misconception that you must possess high technical knowledge and computer skills to trade in cryptocurrency. Only those who know how to program can enjoy all the benefits of trading Bitcoin, Ethereum, and other digital currencies. However, is it important to be tech-savvy when transacting in cryptocurrencies? No, not really. The opposite is true. You don't need to know how the blockchain works or what types of wallets exist today, let alone which offer security features like multi-sig…

Ethics describes the moral principles that direct an individual’s behavior or how they perform an activity. It draws the line between what is morally good or bad and what is morally right or wrong. Therefore, it would be best to peruse the different cryptocurrency scenarios to determine whether cryptocurrencies and blockchain technology are ethical to society. The increase of 38.38% in cryptocurrency hacks from 2019 to 2020 is an excellent example of its unethical nature. In 2020 alone, there were…

Stablecoins are a new breed of cryptocurrencies backed by stable underlying assets such as fiat currency real-world assets or on-chain tokens. The approach allows stablecoins to combine the advantages of bitcoin, such as low fees, instant transactions, and complete anonymity, with price stability. The global market cap of stablecoins recently surpassed a $100 billion market cap, representing approximately 5% of the overall crypto market capitalization of nearly $2 trillion. Furthermore, as per the latest report from Analytics Insights, the market-leading…

The Bitcoin protocol has been chugging along for about 12 years. It has undergone quite a few upgrades to its code over that period that have introduced functionality and compatibility enhancements. Other minor bugs have also been constantly monitored and fixed by Bitcoin Core developers over the years. Since the code is open-source, any community member can propose changes that are implemented via network consensus. The voting mechanism helps ensure that the network participants are fully involved in approving upgrades…

Just over a decade old, the blockchain world has already proven to have tons of use cases in the financial and economic world globally. Blockchains are public ledgers that possess the features of transparency, immutability, traceability, and traceability. These basic features of blockchains make them continuously garner adoption and use cases in finance, government services, hospitals, and many more options. This guide will look into one of the most popular financial use cases of blockchain, the supply chain. How is…

Even though cryptos are becoming commonplace in transactions and international fund transfers, they're still regarded by many as a geek's plaything. Their fairly young age doesn't help the situation, having first been implemented in 2009 with the launch of Bitcoin. Nonetheless, blockchain technology is gaining traction fast, with the level of growth differing by country. Several factors, such as government policies and efficiency levels of traditional financial systems, play a key role in this divergence. Below are the top 5…

We have all seen the unimaginable get unlocked by blockchain technology. I mean, from the overnight millionaires of crypto trading to virtual assets, NFTs, selling for millions of shillings on auctions. Blockchain technology finds use cases in almost all industries and always makes remarkable impacts. At first, the focus was on the financial sector, but it's now evident that the world's future is blockchain. So today, let's see what blockchain technology has for development economics. Understanding Development Economics Economics is…

Following the eruption of Covid-19 that caused a global standstill, modern healthcare systems are finding a challenge in dealing with abrupt health emergencies. As a result, the deadly virus continues to strike numerous regions, with data recording cases surpassing the 180 million mark.  The global economy is also crippling due to the coronavirus pandemic, forcing governments to look for advanced mechanisms to boost a nation's development efforts. Such solutions include cryptocurrencies which represent digital versions of money.  Another additional solution…