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. …
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, …
2 months into 2023 and still looking for the best DeFi protocols for your DApps? Without further ado, let’s look into DeFi, its importance and the top 10 DeFi protocols in 2023. DeFi has been the prime essence of Web3 ever since Bitcoin came to existence with its immutable technology. Web3 has other features such …
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 …
What Is Encryption? Encryption is the process of converting plain text into a form that is not easily understood by third parties. It protects sensitive information such as financial transactions or personal communications from being intercepted and read by others. Essentially, encryption uses mathematical algorithms called ciphers. Ciphers scramble the data in a way that …
A library is often synonymous with a repository. A refuge for all data – new and old, with images, definitions, and volumes of in-depth information. In programming, a library is a cohort of codes a developer can revoke multiple times and use in their program as and when required. Further, with the web3 revolution taking …
/ 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 …
WHAT IS WEB3? Is it the same as Web 3.0? What is DECENTRAL WEB? These are just some questions that pop up when we speak about Web3. Sure, it’s slightly confusing, but we’re here to clear all those doubts!
A ‘Node’ is often synonymous with a “Junction” or a “Crossover”. But what does it mean in the context of Blockchain Technology? Let’s find out!
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 …