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DECENTRALIZED FINANCE
access_time 2022-07-03T13:19:48.733Z face 3.0 University
DECENTRALIZED FINANCE An umbrella term representing a collection of financial products & services created over the DLT DeFi or Decentralized Finance is an umbrella term representing a collection of financial products and services created and offered over the distributed ledger technology. The inter...
CONSENSUS ALGORITHM
access_time 2022-07-03T07:19:40.064Z face 3.0 University
CONSENSUS ALGORITHM A programmed procedure Consensus is key to decentralized participation in the Distributed Ledger environment. The participants should arrive at a consensus about what is good and should be included and what is bad and should be excluded. The entire community needs to function in...
RECORDING A BITCOIN TRANSACTION ON THE BLOCKCHAIN
access_time 2022-07-03T07:13:55.311Z face 3.0 University
RECORDNG BITCOIN TRANSACTIONS The message is digital and the transaction reference number is unique In the usual form of payment systems, we often have a network of banks that execute the transaction for us. A peer-to-peer system means that the payment can be conducted between two friends on the ne...
WHAT ARE SMART CONTRACTS?
access_time 2022-07-03T06:56:09.813Z face 3.0 University
WHAT ARE SMART CONTRACTS? Buterin incorporated this concept into the blockchain and made it possible to use blockchains in a many use-cases Contracts are a set of promises between two transacting parties where each confirms their obligations towards the exchange of valuables between them. It has be...
ETHEREUM — A SMART CONTRACT FUNCTIONALITY
access_time 2022-07-03T06:48:20.879Z face 3.0 University
A SMART CONTRACT FUNCTIONALITY With Ethereum, blockchain now has a smart contract functionality Bitcoin was a marvelous innovation in itself. The transparent, distributed digital ledger system propounded with its invention is known as blockchain. But, when it was conceptualized, the major challenge...