Introduction to crypto currency

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…

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…

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…

A non-fungible token (NFT) is a one-of-a-kind digital asset. It cannot be replaced and is unique.

yet up and running. It is used by programmers and developers to test out new features or search for problems in their application or blockchain network. 

A blockchain is a kind of digital ‘spreadsheet’ that keeps track of any data loaded and locked into it.

Instead of your local bank holding your money, restricting who you can and can’t transfer it to and charging you fees for using their services, in a decentralised environment, you hold your funds in a secure digital wallet and can send money from anywhere in the world to anyone in the world almost instantly, just by having access to an internet connection. 

A brokerage is an online service that allows users to buy and sell assets such as stocks, shares or cryptocurrencies with their local currency. Brokerages charge users a fee for using their platform and can offer additional services such as staking and liquidity pools.

Chainlink and Bitcoin are two very different cryptocurrencies. Let’s explore these differences and their similarities in more detail.

Decentralised applications (Dapps) are just like the applications you use everyday on your smartphone. However, in the context of cryptocurrencies, instead of a mobile phone, these Dapps run on a blockchain network in a public, open-source and decentralised environment. 

Chainlink is a decentralised network for cryptocurrency data providers that need data for their smart contracts. Ethereum is a blockchain platform that facilitates smart contracts which developers use to build dapps and services. 

An on-chain transaction takes place on a blockchain without the help of a second-layer protocol and remains dependent on the state of the blockchain to validate it.