The blockchain is a distributed, digital ledger built in a series of encrypted blocks. Each block, transactions recorded and time-stamped to preserve integrity, encrypts or “hashes” every 10 minutes. That record is distributed across countless nodes (computers) worldwide and linked to the blocks before and after it.
Attempts at tampering a transaction record are evident as the entire block would also need to be altered for tampering to remain undetected.
The complexity of this process makes it an excellent deterrent to hackers. In this article, Lantah narrows in on some of these mechanics.
One example Jeffery gives is the cost of broadband. In 1998, 1 Mbps of Internet cost a whopping $1200 per month; today, 1000 Mbps [1 Gbps] on Google Fiber is only $70. That is a 99.99% price reduction over 20 years.
As you go down the board, you’ll begin to see this same trend holds true for other technologies:
Blockchain is a distributed digital ledger that records transactions that automatically encrypt every 10 minutes in a process called "hashing." Each hash completes the latest block in the blockchain. This technology was originally intended to secure Bitcoin, and later other cryptocurrency transactions, but its adoption and application are expanding.
Image courtesy wix.com
This ability promises to vastly improve product integrity and financial integrity and security in the digital marketplace. You could safely say we are entering an era of the Internet of trust.
The rest of this article will discuss what is meant by some of the terminologies...
A stable coin is a type of cryptocurrency that is not subject to the same market volatility found in the day-trading varieties, such as, Bitcoin or Ethereum. This new variety of coin has the potential to completely transform the digital currency investments topography.
Named for the stability and steady valuation they offer, stable coins are not in the buy-and-hold class. Stable coins encourage spending. Though they may accrue value in the long view, they're not a short term commodity. Don't expect them to jump from $1US to $100US in a 24-hour period.
Photo courtesy wix.com
Cryptocurrency operates on the Internet, and is not regulated centra...
On February 21st, 2018, the Congressional Blockchain Caucus (CBC) sent a letter to the heads of the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) urging them to have a light hand in regulating cryptocurrency innovation.
“Cryptocurrency networks are much more than alternatives to the dollar or payment mechanisms," the letter explained.
Caucus members, Jared Polis (D.-CO), Tom Emmer (R.-MN) and David Schweikert (R.-CA), urged both agency heads maintain a "light touch" in their effort to regulate cryptocurrencies, explaining the potential benefit to the US as arbiters o...