While the Bitcoin blockchain acts as a virtual cheque book and ledger to process incoming and outgoing transactions, Proof-of-Stake is a type of consensus protocol that relies on a network of ‘validators’ with similar responsibilities to miners: ordering transactions and…
A decentralised oracle network (DON) is a group of independent third-party services that actively seeks out real-world data such as weather updates or financial information and feeds it back to the blockchain, providing a bridge between the decentralised and centralised worlds.
ERC-20 tokens run on top of the Ethereum blockchain alongside its native currency – ‘Ether’ and can act similarly as either a currency or a representation of other tokens of value such as shares of a company, loyalty points or more.
Much like an upgrade to your operating system on your smartphone or laptop, Ethereum’s Consensus Layer is a series of upcoming upgrades to Ethereum’s blockchain that aims to improve its speed and capacity for transactions, reduce their cost and increase overall security.
Created as part of the upcoming changes in the Consensus Layer, sharding was proposed by Ethereum developers to split the infrastructure of the Ethereum blockchain into smaller pieces to support more users, improve efficiency and speed up the verification process.
Ethereum transaction fees hit another all-time high (ATH) this week, with miners earning a record $500,000 in fees in a single hour. To better understand this, let’s break down how Ethereum transaction fees (or gas) work.