Blockchain Usage Part 2

We looked at two major uses of blockchain in our part 1. Here we expand our understanding looking at two more changes (but not usage) in blockchain space. We will tie this information in an ICO evaluation piece later. Hashing Algorithm Change (We have covered hashing and mining earlier in the blog.) Once bitcoin became … [Read more…]

ICO, Token, Genesis, PreMine and Instamine Explained

Please note: This is supplementary for the “Blockchain and Cryptocurrency Explained” series. If you want to start from the beginning, go here. This information should help you during your next token or ICO sale. What is ICO and pre-mine? To understand this let’s go to our blockchain example in part 3: The noticeable thing here … [Read more…]

What is a Blockchain Explorer and Difficulty?

Please note: This is supplementary for the “Blockchain and Cryptocurrency Explained” series. If you want to start from the beginning, go here. Blockchain explorer is one of the essential tools in any cryptocurrency. It provides lot of information on the status of the blocks, transactions and currency in general. It is easy to get lost … [Read more…]

Guide on starting to use and Mine a Coin

Please note: This is supplementary for the “Blockchain and Cryptocurrency Explained” series. If you want to start from the beginning, go here. Oft asked questions for any cryptocurrency is – How do I start using a coin? How do I mine so and so coin? Or How does one become a node or a peer? The … [Read more…]

Blockchain and Cryptocurrency Explained – Part 4 – Mining

We have looked at identity, verification and trust in cryptocurrency and blockchain. In our last part, we will put everything together and look at the end to end transaction flow using mining.  Let’s start with the often used word: Mining The process by which a peer or a node earns coins is called mining. The … [Read more…]

Blockchain and Cryptocurrency Explained – Part 3 – Blockchain (2)

How does Hashcash tie into cryptocurrency? Cryptocurrencies using the concept of Hashcash to generate coins and maintain blockchain. Some of the important concepts which are re-used from Hashcash: The software used for Hashcash was referred to as mint. One correct hash meant 1 token or coin (cash) to send one email. The process for finding correct nonce … [Read more…]

Blockchain and Cryptocurrency Explained – Part 1 – Ownership

Nowadays there has been a lot of buzz around cryptocurrencies and blockchain. This has in part helped by the record breaking prices of Bitcoin and Ethereum. According to google trends report, the interest in blockchain is as high as ever: https://trends.google.com/trends/explore?date=all&q=blockchain There are those who are putting in money into initial coin offering(ICO) in hopes of … [Read more…]