Blockchain technology is essential for Bitcoin, but what is a Blockchain? And how does blockchain work? As a decentralised, tamper-proof database a blockchain has many applications – Bitcoin is only one of them. Watch the full video and by the … Read the rest
There are different types of blockchains that can be used depending on the purpose and audience. They can be public, private or a combination of the two. Understand the difference between blockchain types to learn and identify when you might … Read the rest
Decentralized networks give users much more control over the rules and maintenance of that network. Let’s explore how information is confirmed, or mined, and added to the blockchain. But first, we’ll examine the differences between centralized and decentralized networks.… Read the rest
There is only one state of truth in a blockchain. But how can we make sure the state of truth doesn’t get tampered with? Consensus algorithms are protocols that nodes use to agree with each other on the one and … Read the rest
This video outlines 5 core elements
How does blockchain consensus help to establish truth and validity? What is a consensus mechanism? What is forking a blockchain? What is the difference between “valid and true”? What are the limits to blockchain as a “truth machine”? What are … Read the rest
In this brief video, Vitalik Buterin describes the difference between proof of work and proof of stake and why he considers proof of stake to be a more efficient consensus mechanism.
Proof of stake is a type of algorithm by … Read the rest