Fiat money is currency that a government has declared to be an official medium of payment recognized by law, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. … Read more
What is a Smart Contract? Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts allow arrangements and transactions to be performed without a need for enforcement mechanism system, or even a central power among disparate parties. They leave trades irreversible, transparent, … Read more
What is a Whitepaper? A white paper is an informational document issued by a business to promote or emphasize the qualities of service, product or a remedy. White papers are persuade or marketing and sales records used to entice customers buy service a item, technology or methodology or to find out more about. White papers … Read more
The smallest unit of the bitcoin cryptocurrency. Satoshi is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the famous Bitcoin cryptocurrency. The satoshi represents just one hundred millionth of a bitcoin. Contrary to the physical variations of international currencies, like the British pound or U.S. dollar, cryptocurrencies predominately exist … Read more
Founded in 2015, Ethereum is the 2nd largest cryptocurrency in the world, behind Bitcoin. Ethereum (ETH) is a decentralized program platform that empowers SmartContracts to be assembled and operate without downtime, fraud, interference or control from an outside party. How Did Ethereum Start? Ethereum was proposed in 2013 by a cryptocurrency researcher/programmer named Vitalik Buterin. … Read more
On August 1st, 2017, a divergence in the bitcoin blockchain was created. This created a new bitcoin token on the blockchain in addition to the bitcoin from the original chain: Bitcoin cash. Everyone who owned the original bitcoin kept their existing tokens, but also received bitcoin cash tokens on the day of the split. There … Read more
Bitcoin Cash is a cryptocurrency that came from the fork of Bitcoin Classic that was created in August 2017. Since its launching, Bitcoin faced pressure from community members on the topic of scalability. Especially, that the size of blocks — put at 1 megabyte (MB), or 1,000 bytes, in 2010 — could slow down trade … Read more
Block reward refers to the new cryptocurrency tokens distributed by the network to miners for each successfully solved block. Essentially, it entails solving a computationally tough math equation to find a new cube, which can be added to a blockchain, and getting a reward of couple bitcoins or other crypto currencies for solving the problem. … Read more
Ripple (XRP) is a technology which functions as both a cryptocurrency plus also a digital payment system for monetary transactions. The cryptocurrency was co-founded by Jed McCaleb and Chris Larsen in 2012. To comprehend the way the system operates, look at a money transfer arrangement at which both parties on each end of this trade … Read more
What Is A Private Key? A private key is a complex type of cryptography that enables a user to access their cryptocurrency stored in their wallet. When sets up a cryptocurrency wallet, they are usually provided a public key and a private key to send and receive tokens or coins. The public address is where … Read more
