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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...
CYBER THREATS AND HOW TO PROTECT ONESELF
access_time 2022-07-03T06:32:05.846Z face 3.0 University
CYBER THREATS and HOW TO PROTECT ONESELF Cyber criminals engage in many cryptocurrency scams The popularity of cryptocurrencies is on the rise. It is not only getting attention from traders but also, on the downside, from some unethical elements of society that are bent on compromising the integrit...