Advantages of blockchain technology
What is blockchain? The blockchain is a public ledger that anyone can access. This ledger contains the history and current status of transactions per block for a given network. The contents of this ledger cannot be changed, except with the cooperation of the majority of the network. The larger and more decentralised the network, the […]
Bitcoin as a measure of value is often compared to gold because of its finite supply. Not coincidentally, at the moment of the cryptocurrency’s birth, its final volume (supply) was set at exactly 21 million BTC. As bitcoin is constantly mined, the amount mined is constantly increasing. In order to control the pace of bitcoin […]
Decentralized or Centralized solutions?
The choice between centralized and decentralized systems was the subject of much debate even before the advent of cryptocurrencies and blockchain. Both centralized and decentralized systems have their own advantages and disadvantages, and either of them can be a good choice depending on the specific situation. In centralized systems, a central unit or person is […]
Staking on blockchains means locking up and holding a certain amount of the network’s own cryptocurrency. Staking became a relevant concept in the blockchain world with the emergence of the “Proof of Stake” (“PoS”) consensus mechanism. PoS has appeared on the crypto market as a more energy-efficient and secure alternative to the PoW (“Proof of […]
What is “DeFi”?
DeFi is a trendy shortened version of the term “decentralised finance”, and to better understand what it means, let us compare it to “centralised finance”, or CeFi for short. Centralised finance is easier to understand, as that’s how financial systems work at the moment and have worked for the past few decades, that’s what we’re […]
What Is A Crypto Wallet?
When we hear the word “wallet”, we immediately think of a purse or a wallet to hold our cash, ID cards, bank cards. Unlike cash, digital currencies are stored on a blockchain, as they do not physically exist. To create a cryptocurrency wallet, you need to generate a private key and a public key, which […]
Factors affecting the exchange rates
Cryptocurrencies are trading instruments, and thus their exchange rate is determined by supply and demand. They are more similar to shares and securities, rather than currencies, as their price movement is more demand-driven, with no monetary policy or central bank backing them. The supply of most cryptocurrencies is determined when they are issued. The algorithm […]
Trustless or Trusted platform? Which is better?
The revolutionary invention in the world of blockchain and cryptocurrencies is DecentralisedFinance, commonly known as DeFi, which is the umbrella term for decentralised financial services and the associated applications. These are implemented on trustless platforms, which do not require a trusted intermediary to execute transactions, hence the term trustless. In other words, this means that […]
Hot wallet vs cold wallet.
“Hot wallet” and “Cold wallet”, what do they mean and how do we use them? Many of us have heard of the terms, but few of us understand what the difference between the concepts really is. Basically, there are two different types of cryptocurrency wallets to choose from, each with its own advantages and disadvantages. […]