Cryptocurrency is entirely dependent on Block Chains to maintain their transactions. A block is like a page of a ledger book where some transactions are written in ink, permanent which cannot be altered. A block typically consists of transactions of bitcoin or any other cryptocurrency and the details of transactions - who has sent, who has received, timestamp and previous blocks information to link it to the Block chain. This information is passed through a hashing algorithm like SHA 256 and creates a 32-bit hash value. This hash value is irreversible.Thus a block is a permanent store of records, which ... Read More

Block Chain is the most important component of any cryptocurrency network. Cryptocurrency is based on distributed, transparent public ledger where all the transactions ever made on a cryptocurrency are noted in the blocks and added to the block chain. Miners get attractive rewards to verify and create a new block and add it successfully to the Block Chain.Here comes the twist. There will be some blocks which are created, but not accepted by the block chain network. There are called Orphan Blocks. Orphan blocks are verified and valid blocks, but not accepted by the block chain network due to a ... Read More

Cryptocurrency like Bitcoin uses the Block chain as a decentralized, distributed, public digital ledger that records all the transactions of the Bitcoin. Block Chain has a unique feature of storing the value of previous block as a hash value in the current block, which makes it impossible to alter any block without changing all the subsequent blocks.The miners create a block and verify it and will be rewarded for using their CPU power to do so. The block which gets more than 50% consensus will be added to the block chain. During the verification of Block, the miners will complete ... Read More

Satoshi Nakamoto created Bitcoin in 2008, and he made the network very strong as a distributed, peer to peer model which is maintained without any intermediaries. Since then many digital currencies are created, which follow the same system where all nodes are sharing same information (same copy of Block chain) and any node can communicate with any other node safely across the network, knowing that they are displaying same data.Byzantine Fault Tolerance (BFT) is one of the most difficult challenges faced by the Block chain technology. All the participants of the cryptocurrency network need to agree, or give consensus regularly ... Read More

Bitcoins are created by Satoshi Nakamoto, in 2008 whose identity is still a mystery, whether it is one person or a group of persons. Satoshi Nakamoto proposed Bitcoin as a means of exchange, independent and secure and also a limited number.Now the question comes, Why limited supply?The most important feature of Bitcoin is that it is decentralized. No Central authority will keep a check on its demand or supply. Satoshi has created an open source code which is maintained by a group of volunteer programmers and runs as a distributed network with nodes spread across the world. We know that ... Read More

When you talk about trading of Cryptocurrency, the following transactions will come under that category.Buying new cryptocurrency using your fiat currencySelling your cryptocurrency for fiat currencyExchanging one type of cryptocurrency for another digital currencyTo make these transactions, there are Cryptocurrency Exchanges.If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.Cryptocurrency ExchangeThese are the websites which allow you to buy, sell or exchange the digital currency. All you have to do is to choose an exchange, create an account and get your id verified, and you are ... Read More

Bitcoin, invented by Satoshi Nakamoto in 2008 has ushered new waves in the field of cryptocurrencies. Inspired by Bitcoins and decentralized peer-to-peer network, there are many digital currencies that came into the world to change the global economy.Let us first understand what is a cryptocurrency? Cryptocurrencies are the digital currencies which are generated, stored and transacted digitally. The most important feature of cryptocurrency which makes it different from fiat currency is, that it is not created or maintained by any single central authority. It is created and maintained through a decentralized system which is maintained by the miners. The miners ... Read More

Bitcoin wallets come on different platforms with different features. There is not “one size fits all” concept.Bitcoin wallet can be set up electronically either on your mobile or desktop. It is an application or a program which allows you to send or receive Bitcoin cash, and keep track of your transactions and history. The software program stores the private and public keys and interacts with various block chains to enable the users to send and receive digital currency and also monitor their balance. If you want to store and use the crypto currency you need a Digital Wallet.They are downloaded ... Read More

What is a Bitcoin?Bitcoin is an electronic payment system through a secure, verifiable and mathematical way. It is created by Satoshi Nakamoto in 2008 to produce a new means of exchange of money, independent of any centralization or central authority, which can be done electronically.Traditional currency is printed and distributed by the Government based on demand and supply in the market. Bitcoin is introduced as a peer-to-peer currency without any central authority or any government body to issue the Coins and track their transactions.What is MiningWhere do the Bitcoins come from when there is no central authority to create and ... Read More

Just like our fiat currency, we have dozens of cryptocurrencies which are ruling the digital world now. Litecoin is created based on an open source cryptographic protocol and was started in October 2011 as an early bitcoin spinoff. It is a decentralized money, free from censorship and used to send secure payments digitally.According to the market capitalization, LiteCoin is the third largest cryptocurrency after BitCoin and XRP, and like other cryptocurrencies, Litecoins does not allow transactions in US Dollars. They conduct transactions in Litecoin units.The total number of Litecoins that can ever be mined is capped at 84 million. The ... Read More