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blockchain network

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What Is Proof Of History?

Proof of History is a consensus algorithm that improves the scalability and efficiency of blockchain systems. It uses a verifiable delay function to create a secure and unique timestamp. The timestamp for each block ensures that the order of the transactions does not change. This allows nodes to reach consensus quickly and efficiently without requiring much computational power.  …

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What Is Delegated Proof Of Stake Consensus?

Delegated Proof of Stake (DPoS) is a consensus algorithm in blockchain networks. DPoS helps to maintain consensus and validate transactions. In a DPoS system, token holders elect a group of validators or “delegates” to represent them and validate transactions. These delegates are responsible for verifying transactions and adding new blocks to the blockchain. Token holders can vote for validators, …

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What Is A Smart Contract?

Imagine you could have digital contracts that can execute themselves whenever necessary, as the need arises. Well, these are Smart contracts. Since they already exist, you can stop imaging and let’s see the necessity, the features, and the working of a Smart Contract. Let’s go!  What Is A Smart Contract? A smart contract is a …

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What Is A Node?

/ no·de / a point in the network where data passes through. Blockchain Nodes are computer systems connected to the blockchain network. They function as points of communication by either sending, receiving, relaying, or storing a message. Although burdened with a glorious purpose, nodes are as important as Loki for Avengers to complete the stark …

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What is an NFT?

Introduced by Meni Rosenfield, in 2012 as “Coloured Coins”, an NFT is short for Non-Fungible Tokens. These are, in essence, digital art cum assets that one can buy. Moreover, these tokens are valuables because they are crafted, collected, sold, or auctioned! And, since these are digital tokens, any transactions related to them occur on the …

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