Mindblown: a blog about philosophy.
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61. Stablecoin
A cryptocurrency which is underwritten by an asset or assets (e.g., fiat currency, commodities, etc.) designed to minimise the volatility of the price of the coin/token. 62. State Channel A process by which blockchain transactions are executed off-chain, collected and then written to the main chain as a single transaction in order to improve performance…
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41. Know Your Customer (KYC)
The legal process of a business identifying and verifying the identity of its clients. KYC requirements vary from jurisdiction to jurisdiction. 42. Liquidity The ease of converting an asset (or, in this case, cryptocurrency) to cash (fiat). 43. Mainnet The production version of a blockchain. 44. Merkle Tree/Hash Tree In cryptography, a Merkle or hash…
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21. Digital Signature
A mathematical scheme for verifying digital messages or documents satisfy two requirements – they have authenticity (from a known sender) and integrity (were not altered in transit. 22. Decryption This is the method of turning cypher-text into plaintext. 23. Encryption It is the method of turning a clear-text message (plaintext) into an information stream (cypher-text)…
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80 Blockchain Terminologies | Glossary of Blockchain
Blockchain is a novice concept for almost everyone inside and outside the world of technology, hence while learning more about it one realizes that there are a lot of unfamiliar terms and the best way to learn them is by understanding what each one entails. Hence, here is a list of some of the most…
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8.Cannot be corrupted
Every node on the network has a copy of the digital ledger. To add a transaction every roce needs to check its validity. If the majority thinks it’s valid, then it’s added to the ledger. This promotes transparency and makes it corruption-proof. 9. Minting Basically, there are a lot of ways of minting a problem…
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6. Consensus
The consensus algorithm is what makes blockchain technologies highly effective. It is an integral feature of every blockchain and indeed is a defining characteristic. To put it simply, consensus is a decision-making process for the group of nodes active on the network. Here, the nodes can come to an agreement quickly and relatively faster. When…
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How does it fight corruption?
Almost all cybersecurity hacks and leaks have had an internal link who knows about all the security measures, so in the end, mutual trust becomes detrimental for security. In today’s era even banks aren’t that reliable and the global economy demands a trustless environment to fully overcome this issue. So, when it comes to a…
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6 Major Features Of Blockchain | Why Blockchain is Popular?
Blockchain is one the most popular and exciting technologies right now. Even though most people are familiar with the term they don’t completely understand the technology. It is the underlying concept that cryptocurrencies work upon but it is also so much more. In this article, we will learn about blockchain and its features. Let’s start!!1…
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Prerequisites to Learn Blockchain
The main prerequisite to learn blockchain technology and make it a full-time thing is to have a solid technical background and thorough knowledge of the blockchain. The technical skills you need to be good at before starting professional work with blockchain are:
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Blockchain Tutorial – Learn Blockchain Technology from Scratch
We are starting a “trending” chain of tutorial series that I am sure you will be fascinated about. Yes, you are right, we will be learning about the most hyped technology (in recent years) of cryptocurrency that is blockchain. Everyone is very curious to know – what is cryptocurrency, what is blockchain and how can…
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