Introduction to cryptocurrency

The proof of activity consensus protocol combines the best features of both proof of work (PoW) and proof of stake (PoS) in order to increase the security of Bitcoin and other cryptocurrencies.  Created in 2014, the protocol begins by instructing…

A fork is a collectively agreed upon software update to a cryptocurrency built on blockchain. In order for a proposed update to any cryptocurrency, such as Bitcoin, to be implemented, there must be consensus among members of the Bitcoin community,…

If you’ve been around the cryptocurrency space for a while, you may have seen dips and spikes of more than 10% in the price. This is because, compared to other assets such as gold, which has been around for centuries…

A node is simply any computer that runs a copy of the Bitcoin software and is used to verify transactions on the blockchain.

Consensus protocols are the rules by which a network operates. In the case of a blockchain network, the consensus protocol provides the rules by which a transaction on the network is verified as legitimate or fraudulent. As the nature of…

Proof of Elapsed Time (PoET) is a proof of work consensus protocol designed specifically for businesses. The way it works is by randomly selecting a participating node, allowing those not selected to “rest” their Central Processing Units (CPUs) or getting…

Mono-sig cryptocurrency wallets will require one signature (or ‘key’) to gain access, sign, and send a cryptocurrency transaction.

We all go through the process of downloading and installing updates to our phones or laptops. Cryptocurrency also relies on similar updates and upgrades to improve its efficiency. However, while it may take just a few clicks or taps of…

A multi-sig wallet requires several signatures to gain access, sign, and send a cryptocurrency transaction.

The more active miners there are on a blockchain, the harder the mining process is, with fewer rewards given each time a new block is mined. Mining pools were created in order to deal more effectively with the increasing difficulty…

Proof-of-stake is a type of consensus protocol that relies on a network of ‘validators’ with similar responsibilities to miners.

In blockchain technology, a testnet is designed to test different improvements in the blockchain without the risk of causing any problems with the network. It can also act as an environment where dapp developers can test their decentralised applications. With…