What is Mining?
What is mining?
Now, when you swipe your card a third-party validates that transaction. This is usually done by banks or credit card issuers. Since blockchains have no third-party validators, transactions are confirmed through people all over the world called "miners". These miners have specialized computers that confirm transactions as they are placed in the blockchain. Since the blockchain is held in every miners computer, each time new transactions are published, every miner can see that block. Once the block is posted all the miners get to work to try and find the puzzles solution. Once a solution is found it is posted to the blockchain for the other miners to validate. The winning miner is rewarded in cryptocurrency and the next block is posted for the process to start over. This guarantees an incentive for people to mine as well as a key security feature that requires consensus among the community. If a fraudulent block was posted, the entire community would see that it is not valid and throw it out. This is why some cryptographers believe the blockchain is resistant to hacking.
After seeing the recent success of the Initial Coin Offering (ICO) sector of crypto, a thought popped into my head, “When will tech giants like Amazon, Google, and Facebook utilize a token economy?” Think about it, instead of these tech-behemoths going in and out of volatile currencies, why not make their own and peg their products and services in that native currency?
Blockchain is one of the hottest words of 2018. But who’s behind this technology? Check out this Infographic that lays our the career paths of the trailblazers leading the crypto engineering.
An overall review of Uphold, a cloud based financial services platform that enables anyone, anywhere in the world to move, convert, hold and transact in any form of money or commodity instantly and securely.
Op-Ed: “After graduating college many moons ago, one thing I learned in the “real” world as a trader/analyst is… financial markets do not function the same way as economic markets do. I found these markets driven by different motivating factors. Economic markets are measuring goods and services and the financial markets are measuring social mood.”
VeChain is a blockchain platform with extremely ambitious goals to develop a distributed ecosystem for businesses that will enable the movement of transparent and secure data, resulting in a more visible, trust-free, and collaborative system of business across numerous industries.
An in-depth look at how blockchain and initial coin offerings are radically transforming real-estate.
A transactional workflow, CPROP’s platform allows total transparency for all parties involved in a real estate transaction. As mentioned before, the traditional process of communication is headed by the agent. All parties rely on the agent to be available and accurate with information. Using the CPROP platform, parties are able to communicate with others involved in the transaction and update information in real time.
Check out this great beginner’s guide on Bitcoin and Blockchain technology!
Stellar Lumens is a peer-to-peer cryptocurrency and open source protocol for value exchange. Coins are “pre-mined” and the transfer of coins is based on an open source consensus algorithm, not managed by any central authority.
This is a key question to answer when analyzing markets… Do price drops bring on fear in investors, or does the fear inside investors make price drops?