Category: Cryptocurrency

What is Encryption?

What is Encryption?

Encryption is the process of converting clear information into the code to prevent unauthorized access to it. Governments, companies, and individuals use encryption methods to protect their personal data and prevent fraud. Recent studies...

What Are Nodes?

The definition of a node can vary greatly depending on the context in which it is used. When it comes to computer or telecommunications networks, nodes can offer different goals, acting both as a...

What is Cryptocurrency?

Digital currency, which is protected by cryptography and is usually used as a medium of exchange in a digital peer-to-peer (P2P) economic system is called cryptocurrency. The use of cryptographic methods is what provides...

What is Blockchain Consensus Algorithm?

In the context of cryptocurrency, consensus algorithm is an essential element of each blockchain network, since they are responsible for maintaining the integrity and security of these distributed systems. The first cryptocurrency consensus algorithm...

Byzantine Fault Tolerance (BFT) Explained!!

Since the advent of Bitcoin in 2008, many other cryptocurrencies have been created as a peer-to-peer electronic money system, each of which had a specific mechanism. But one thing that almost all cryptocurrencies have...

What Is Ethereum?

In 2013, a document for Ethereum was written by Vitalik Buterin. This document describes an open distributed computing platform, accessible to the blockchain, which can execute smart contracts: applications that work exactly as planned,...

What is Proof Of Stake?

The Proof of Stake consensus algorithm was introduced in 2011 on the Bitcointalk forum to solve the problems of the currently most used algorithm: Proof of Work. Although both have the same goal of...

What Is Proof of Work?

Originally dated in 1993, the Proof of Work concept was designed to prevent denial of service attacks and other abuses of services such as network spam, requiring some work for the service user, which...

What Is Smart Contract In Blockchain?

A smart contract is computer software developed as an auto-fulfillment contract, which means that it starts certain actions after the predefined conditions have been met. A Smart contract can be used, for example, as...

What Is Genesis Block?

A genesis block is the first block ever recorded in its corresponding blockchain network, also sometimes referred to as Block 0 or Block 1. When a block is transferred to a blockchain, it refers...

What Is Cryptocurrency Mining?

Cryptocurrency mining is a process in which transactions between users are checked and added to the open book of the blockchain. The extraction process is also responsible for introducing new coins into the existing...

What Is Merkle Tree In Blockchain?

The Merkle tree is a way to organize and structure large amounts of data to simplify processing. In the case of cryptocurrencies and blockchains, the Merkle tree is used to structure transaction data so...

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