Author: Atis. Sh

Everything you need to know about Proof-of-Work in cryptocurrency If you are interested in mining cryptocurrencies and understand how mining works, then it is likely that you have encountered the concept of Proof-of-Work (POW).  In simple terms, proof-of-work is a collectively shared (consensus) algorithm that validates the transaction verification of a miner. Since mining is the process of verifying transactions, Proof-of-Work is directly related to it. Proof-of-Work dates back to the publication of the Bitcoin white paper from Satoshi Nakamoto, the pseudonym behind the inventor of Bitcoin. How Does PoW Work? First, we have to briefly explain the mining process…

Cryptocurrencies explained Cryptocurrencies are virtual, digital currencies that work on blockchain technology. Same as fiat currencies, cryptocurrencies can be used to complete transactions. However, cryptocurrency transactions are done in a decentralized system, which means that no central authority controls the transactions. The most popular cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC). Bitcoin (BTC) is considered the first cryptocurrency to successfully be implemented in the crypto market.  It was published by a person(s) with the pseudonym Satoshi Nakamoto, who still remains unknown. How Do Cryptocurrencies Work? Cryptocurrencies work in a peer-to-peer system, eliminating the need for third parties.…

Volatility explained Volatility is defined as a statistical quantitative approach that is used to calculate the price fluctuations of a traded financial instrument or commodity over time, may it be stocks or cryptocurrencies. When we refer to the volatility of cryptocurrencies, we talk about analyzing the average price change for different coins over a period of time, such as Bitcoin or Ethereum. What Does Volatility Mean? What can we make out of this definition? When we measure levels of risk associated with certain assets, volatility plays a huge role. There are volatility indexes that operate within stock markets to calculate…

A look into Bitcoin Cash. What is BCH? Bitcoin Cash is known as an offshoot of Bitcoin. It is a standalone digital currency that was created in August 2017. Even though it shares many similarities with Bitcoin in many different ways, its operating set of rules are unique to it and it also utilizes its own blockchain. What Differentiates Bitcoin Cash From Other Cryptocurrencies? Bitcoin Cash possesses several advantages. Here are some of them: It allows for two million daily transactions  Bigger blocks eliminate the need for a scaling tool You will send & receive the amount of money that you…

Tezos (XTZ) review Tezos (XTZ) is a blockchain network that is linked to a “Tezzie” or a “Tez”, which is a digital token. Tezos is a blockchain protocol that deals with applications and assets which is open-source and also backed by a worldwide community of researchers, builders, and validators. It works by giving a reward to token holders for their participation in the proof-of-stake (PoS) consensus mechanism. So mining Tez is not part of the platform. The developers boast on the security and upgradability of the platform and they also say that it is built to last. Due to its…

What differentiates Zcash from other cryptocurrencies? Zcash (ZEC) is known as a digital currency that is based on a decentralized blockchain. Due to its use of cryptography in order to be able to provide higher anonymity, it differentiates itself from other widely used cryptocurrencies such as Bitcoin or Ripple.  Zcash is the first cryptocurrency that doesn’t utilize permissions and it’s also open-source. In essence, ZCash can be called a Bitcoin version, albeit improved on important elements.  All information on ZCash is encrypted using zero-knowledge cryptography, concealing your payment history, in contrast to other cryptocurrencies where if someone knows your address…

A deeper look into Litecoin (LTC) Cryptocurrencies have started 2021 with a significant increase in prices. They are once again attracting a lot of new traders who are always searching for promising cryptocurrencies. Litecoin is one of the most prominent cryptocurrencies. Charlie Lee created Litecoin in 2011 with the intention to improve on Bitcoin’s weaknesses. You probably are thinking to buy or trade Litecoin, but yet are not sure which one to go with. Take a look below at some of the benefits of trading Litecoin, and find out why it is worth trying. k One downside that still hasn’t…

If you live in AU and want to buy Ripple, here’s how you can do it Ripple integrates the Ripple payment network and the XRP token to deliver friction-free and more effective transfers worldwide using blockchain technologies. It manages payments better and is designed for business use. Ripple in Australia Ripple is one of the most popular cryptocurrencies in Australia. XRP offers the opportunity to execute trustworthy bridge trades to minimize vulnerability and strengthen regulatory control when it comes to financial threats and emergencies that any particular currency can face.  The XRP Ledger plays an essential role in mitigating the…

A deeper look into NEO cryptocurrency NEO is a cryptocurrency that is part of the NEO network’s platform. NEO network is a blockchain platform that makes it possible for users to build ‘DApps’ or decentralized applications. These are software, which can be run on a large number of computers. The main goal of this network is to bring blockchain technology closer to the public by creating a platform where assets can be digitally exchanged. Da Hongfei and Erik Zhang found the NEO network in 2014, and at first, it was named Antshares. The network was rebranded as NEO in 2017.…

What makes Cardano unique? A deeper look into ADA Cardano, also known as ADA, is a third-gen Dapp development platform and public blockchain. The platform rose in popularity and attracted media attention as the first blockchain to incorporate a strategy known as peer-reviewed research into its core system. At the moment, ADA is known as one of the most popular and highly-regarded cryptocurrencies. Many investors and analysts commonly use the term ‘third-generation cryptocurrency’ when referring to Cardano. Most notably, cryptocurrencies of the first generation such as Bitcoin made it possible for traders around the world to use a secure and…