The blockchain is the technology that serves as the distributed ledger that forms the network. This network creates a means for transacting and enables the transfer of value and information. A blockchain is a platform that allows cryptocurrencies to exist. Cryptocurrencies are coins or tokens used within these networks to send value and pay for these transactions. Furthermore, you can see them as a tool on the blockchain, in some cases serving as a resource or utility function. Other times they are used to digitize the value of an asset.
In other words, blockchains serve as the base technology, in which cryptocurrencies are a part of the ecosystem. They go hand in hand, and a cryptocurrency is often necessary to transact on a blockchain. Without the blockchain, we would not have a way for these transactions to be recorded and transferred in a transparent way. A blockchain is a technical design pattern that allows networks to exist without relying on a central authority for network management and maintenance. A cryptocurrency is usually (but not always) a required part of a blockchain ecosystem, and is used to incentivize users to secure the network.
In this episode of Ask an Expert, Taylor explains what Hierarchical Deterministic (or HD for short) wallets are and how they work. He'll cover what HD wallets, if you need one and what a seed phrase is.
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In this video, we're going over how blockchain technology can effect Law.
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This episode of Blockchain Token - Which is it? covers Augur!
Augur is a decentralized network, using peer-to-peer technology, that works to accurately predict events. The prediction market is built on the idea that you can bet on the outcome of certain events, and the groups predictions will likely be more accurate than an couple individuals. And you are rewarded for betting on the correct outcome of the events, building reputation & promoting likely predictions. The integrated rewards and reputation system for accurate predictors, and reporters too, allows incentive for participation and accurate forecasting of events.
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Hash functions take an input of any length (a message, for example), and returns a fixed-length string of numbers and letters, which is the hash value (also known as a message digest, digital fingerprint, or digest). The hash value, or digest, is the digital signature. This means that a person who knows the hash value cannot know the original message, but the person who knows the original message can prove the hash value is created from that message. When digests are equal, it confirms that the message has not been modified or changed since it was signed.
Cryptographic hashes, such as the SHA-256 computational algorithm used by Bitcoin and others, ensure that any alteration to transaction input, results in a different hash value being computed, which indicates potentially compromised transaction input.
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This episode of Blockchain Token - Which is it?
Maker is a decentralized autonomous organization that developed the Dai Stablecoin to deal with the problem of volatility that popular coins such as Bitcoin and Ether experience.
Maker is a decentralized autonomous organization that developed the Dai Stablecoin to deal with the problem of volatility that popular coins such as Bitcoin and Ether experience. The large fluctuations that these coins can go through in a month or sometimes even in a day make them ineffective as everyday currency. Why would someone spend Bitcoin today if it could be worth twice as much tomorrow?
This lead to the creation of coins like Dai, that keep their value relativity stable compared to the US dollar. Dai’s value is stabilized by a dynamic system of collateralized debt positions on Makers’s smart contract platform. Anyone can create Dai by leveraging 1.5 times worth of Ethereum.
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Welcome to Blockchain A-Z! In this clip, we talk about "mining", the process of adding transactions to the public ledger of past transactions on the blockchain
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Blockchains are expected to be integrated into many different industries, potentially creating great disruption. In some cases, blockchain-based projects are already making their way into development. There are many applicable use-cases for blockchain technology, and more are being discussed, researched, and developed at an increasing rate! In this less, we'll explore the development of blockchain technology and how it impacts various industries.
Blockchain 101
Lesson 14/18
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In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We'll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.
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The Byzantine Generals' Problem is a classic problem faced by any distributed computer system network. It addresses the question of how a distributed network can reach a reliable consensus even when some of the computers on the network may attempt to pass along fraudulent information. The internet has opened up many new avenues for commerce and education, but how can we trust a random person across the world? This lesson explores how decentralized groups can make reliable decisions.
Blockchain 101
Lesson 5/18
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