Integral to the blockchain concept is another concept that dates back to 1979: the Merkle tree, named after computer scientist Ralph Merkle. Central to how the Bitcoin blockchain works, and also to Merkle trees, is the concept of hashing.
Read moreWith growing adoption of blockchain technology and decentralised applications, the demand for people who have knowledge and skills in them is on the rise. According to a report compiled and published by the leading online freelancing site Upwork, the demand…
Read moreIn the early days of Bitcoin, a sender had to manually set the details of each transaction. This meant they had to understand how transactions worked more than is necessary today. If you were transacting back then, you would have…
Read moreIn less than a year, the first cryptocurrency will clock in at a decade. In that time, hardly a month has gone by without it experiencing a major event, reaching a new turning point, or achieving another milestone. It can…
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Read moreWhen Vitalik Buterin announced the launch of Ethereum in January 2014, he explained that his primary motivation for creating the protocol was to design a ‘foundational layer’ for other applications. The Bitcoin blockchain wasn’t originally designed for applications to run…
Read moreWhen Satoshi Nakamoto launched Bitcoin in 2009, the founder saw it in his mind, or expected it to function, as money. We can deduce this from reading the white paper, published three months earlier to detail how the cryptocurrency would…
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As Bitcoin continues to soar to new all-time highs, global awareness surrounding cryptocurrencies has exploded. Particularly for newcomers, the idea of mining Bitcoin can sound very attractive at first. After a little research, however, the realities of needing special mining…
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In centralized systems, an administrator manages the database and decides what files to store and how to update them. The administrator can delegate this power to others. With decentralized public ledgers, or blockchains, however, no administrators exist. Independent nodes in…
Read moreAs the adoption of blockchain grows, so does the need to understand the lexicon around it. A fork is a common blockchain technical term used specifically in the ongoing scaling debate, yet it causes a lot of confusion, particularly for…
Read moreApproved by Archax Ltd on 7th October 2023
