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How Could Blockchain Technology Change Finance?

This question has been asked by every futurist research laboratory in many of the largest banks, central banks, financial institutions, think tanks, consulting firms and government committees around the world.

R3CEV, a consortium effort funded by some of the largest banks in the world, is busy trying to answer this question. Goldman Sachs, McKinsey Consulting Research, and Consumers have all written very good reports about this question. The British government, US Senate, Canada, Australia and the European Union have all conducted investigations along this route.

Many startups also produce white books about their specific innovations or use of blockchain technology, and often include larger social questions: "How will this change things?"

Many of these studies underline four main areas of change:

Infrastructure for cross-border transactions
The digital revolution has really changed the media, as we all know. This has an effect in the financial industry too. Of course, financ…

Hard Fork vs Soft Fork

The fork, or its threat, seems to be an established feature of the cryptocurrency landscape. But what are they? Why are they so important? And what is the difference between a hard fork and a soft fork?

"Fork," in programming terms, is a modification of the open source code. Usually the branching code is similar to the original, but with important modifications, and two comfortable "forks" coexist. Sometimes forks are used to test a process, but with cryptocurrency, it is more often used to apply fundamental changes, or to create new assets with characteristics that are similar (but not the same) as the original.

Not all forks are intentional. With open source code widely distributed, forks can occur accidentally when not all nodes replicate the same information. However, these forks are usually identified and resolved, and the majority of fork cryptocurrency is caused by disagreement over the characteristics embedded.

One thing to keep in mind with a fork is that …

How to Mine Ethereum?

Now that you know "How Ethereum Mining Works", you may want to know how to compete in a race to mine your own ether.

To recap, mining is the glue that brings together 'ethereum decentralized application stores' by ensuring that it comes to consensus on any changes to one application (dapps) running on the network.

Take the online notebook described in "What is Ethereum?". The network will not reach a consensus about the 'state' of the notebook (say, if notes are added or deleted) without the computational power to process changes.

Miners release computers to solve cryptographic puzzles in an attempt to win ether, and they need to try a large number of computing problems until someone opens a new collection of assets.

One of the interesting things about open blockchain is that, in theory, anyone can set their computer to focus on these cryptographic puzzles as a way to win prizes.

The catch is that mining on large public blockchain tends to need more…

How Ethereum Works?

Now that we have discussed what ethereum is, let's dive deeper into how the platform functions under the hood.

Consider the online notebook application described in "What is Ethereum?"

Using ethereum, applications do not require one entity to store and control the data. To achieve this, ethereum borrows a lot from the bitcoin protocol and its blockchain design, but changes it to support applications beyond money.

Ethereum aims to abstract the design of bitcoin, so that developers can create applications or agreements that have additional steps, new ownership rules, alternative transaction formats or different ways to transfer status.

The purpose of the 'Turing-complete' ethereum programming language is to allow developers to write more programs where blockchain transactions can manage and automate certain results.

This flexibility is probably the main innovation of ethereum, as described in the guide "How Do Smart Ethereum Contracts Work".

Blockchain et…

Who Created Ethereum?

In 2008, unknown developers (or groups of developers) found bitcoin as a new way to send value through the internet. Four years later, a 19-year-old boy dreamed of a new platform based on this innovation in an effort to change the internet completely.

Vitalik Buterin, a programmer from Toronto, was first interested in bitcoin in 2011.

He co-founded the online news site Bitcoin Magazine in the same year, writing hundreds of articles about the world of cryptocurrency. He goes on to code for Dark Wallet, which is privacy minded and Egora's market.

Along the way, he came up with the idea of ​​a platform that would go beyond the financial use cases allowed by Bitcoin. He released a white book in 2013 which described an alternative platform designed for all types of applications that application developers want to build. The system is called ethereum.

Ethereum makes it easy to make smart contracts, code that can be enforced by yourself that can be used by developers for various applicat…

Can Bitcoin Scale?

A few years after Satoshi Nakamoto released his bitcoin paper in the world, cryptocurrency users began to see potential problems: bitcoin is not too liquid.

For systems that are claimed to replace fiat payments, this is a big barrier. While Visa handles around 24,000 transactions per second, bitcoin can process up to 7. Unless something can be done about this, the bitcoin utility is limited.

So began the "scale debate," which polarized the community and issued a wave of technological innovation in finding solutions. But while significant progress has been made, sustainable solutions are far from clear.

The problem arises from bitcoin design: Satoshi program blocks to have a size limit of about 1MB each, to prevent network spam.

Because each block takes an average of 10 minutes to process, this works for a small number of overall transactions. Increased demand will definitely lead to increased costs, and bitcoin utilities will decrease.

Don't think so

A simple solution at…

How to Calculate Mining Profitability?

Are you serious about mining cryptocurrency? If so, you need to know how to use your money and equipment as well as possible. In this guide, we will show you how to mine your digital assets in the most profitable way.

Obviously, big money goes into expensive ASIC bitcoin. If you are in that position, you probably know how it works and want to mine bitcoin. However, those of you who have a more moderate budget might want to build a GPU miner for encryption currency, or buy a small ASIC machine for bitcoin or other SHA-256 currencies. In this case, you have come to the right place.

How do I start?
Choose your currency
Digital puzzles The process of mining digital currencies involves solving complex cryptographic puzzles. By doing this, the miners provide 'proof of work' that is valued in digital currency. In general, there are two working hashing algorithms used today: SHA-256 and scrypt. Note that there are a number of alternatives that are less frequently used, which we will n…