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FAQ

What’s the difference between “proof of work” and “proof of stake” in the blockchain?

Both proof of work and proof of stake are consensus algorithms that are designed to achieve reliability in a network involving multiple unreliable nodes. Read more...

What does “blockchain is a linear sequence of blocks” mean?

Current blockchain based projects are designed to function in a linear sequence; one operation functioning after the other. This is a crucial function so that operations occur precisely in their desired order. Read more...

What is a block in blockchain? Where to store the blocks?

A block is a container data structure. In the Bitcoin world, a block contains more than 500 transactions on average.So, a block is composed of a header and a long list of transactions. If you are a miner, your job is to gather transactions from the transaction pool in to a “candidate block”, and to try and add this candidate block to the blockchain. Read more...

What is blockchain technology for beginners?

Blockchain is a growing list of records, called blocks, that are linked using cryptography in a *linear sequence forming a chain. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, blockchain is resistant to any modification of the data. Read more...

What is blockchain technology?

Blockchain is just a decentralised database. What is a database? A database is a data structure used for storing information. This includes data that can be queried to gather insights for structured reporting used by entities to support business, financial and management decisions. Read more...

What do you think about Facebook's new cryptocurrency, Libra?

What is relevant to us is the point that, despite referring to itself as a Blockchain, there is actually no blockchain data structure in Libra. Which is also observed by the other blockchain experts. Read more...

What are non-Bitcoin/cryptocurrency applications of blockchain technology?

The Blockchain technology has imaginations running amok. The technology has grown to the point that it can be applied to any need for an accurate, trustworthy record. The hype surrounding blockchain tech is quite possibly the result of how easy it is to dream up a high-level use case for the application of blockchain tech. Read more...

What are the top 5 things we should know about the new Facebook cryptocurrency Libra?

Libra is a cryptocurrency, that is to say, “a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets”. Read more...