69 0 Cryptocurrency has made some of the major headlines in the year 2018, often making hefty turns up and down the price band, and making investors speculative of its future. The area of investment in bitcoins steadily picked up pace, ever since word spread about the alluring returns that Bitcoin has reaped for its […]
257 0 Have you ever wondered where did the clothes that you wear, or the food that you eat come from? Before these products even hit the stores, there is a whole other chain of different interlinked elements that work on delivering these products to you. This connected sequence of processes involved in the production […]
A blockchain, is a growing list of records, called blocks, which are interlinked using cryptography. Each block contains information regarding a specific transaction. A blockchain is designed to be resistant to the modification of data. As each transaction takes place, it is stored in a block and added to the chain. In simpler words, blockchain is a digital ledger, where all the transactions are recorded and shared publicly.
Information recorded on a blockchain exists as a shared and continually updated database. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and anybody can access the same. Information is decentralized and hosted by millions of computers simultaneously, thereby making hacking a most improbable event. While blockchain is often mentioned in association with cryptocurrency platforms like Bitcoin, the underlying technology has great potential in making the finance sector more efficient and transparent. As a radical technology for recordkeeping, blockchain technology is believed to change the future of finance in all aspects like accounting, asset registers, payments, trading, collateral management, and more.
If you are even remotely active on crypto-Twitter, you must be aware of the Bitcoin Cash fork drama and the consequent hash wars that are unfolding. For those late to the party, here’s a quick rundown of the situation:
Bitcoin ABC vs Bitcoin SV
The Bitcoin Cash network divided into two factions over protocol changes that have now been implemented splitting the chain into two: BCH ABC and BCH SV. Before it came to be at 16:40 UTC on Nov 15th, the two opposing camps composed of prominent names in crypto have been going at each other’s throats on Twitter for the past few weeks. Essentially, Craig Wright, who is on the side of the SV implementation threatened a 51% attack against the ABC network, should the protocol changes be implemented. With each side garnering support from miners and businesses along with ensuring they have enough hash power to sustain their network post the split, the hash wars, as this situation has been dubbed, are officially on. A more detailed version of events along with numerous updates on the fork itself can be read in Bitcoin magazine’s article here. Read more about The trader’s guide to hash wars …
Financial sector regulators are grappling with the difficult question on how to rein in cryptocurrencies and initial coin offerings (ICOs).
Cryptocurrencies are decentralised, location-less, privately issued or mined on a computer network for peer-to-peer transaction purposes. These features make the prospects of regulating cryptocurrencies extremely challenging.
237 0 The G20 Summit held earlier this month established that the member nations do not consider cryptocurrencies a threat to the financial system as yet. A leaked document also stated that cryptocurrencies ‘lack the traits of sovereign currencies,’ thereby implying that the G20 considers cryptocurrencies to be assets rather than functional currencies. Given this, it […]
233 0 While China has spent the past year implementing a series of prohibiting regulations that have made it almost impossible for the cryptocurrency industry to thrive within the country, Chinese crypto enthusiasts have not let government regulation prevent them from moving forward with crypto and Blockchain innovation. Operating in China within the limits of […]
235 0 The Internet has become so ubiquitous and so central in our lives and the way the world is run, that we tend to ignore there existed a time before social media and e-commerce websites. The Internet transformed almost everything we had been doing and birthed many new and unique aspects of the modern […]
231 0 When Tim Berners Lee came up with the World Wide Web in 1993, the Internet did not belong in the server racks of large corporations, but in dial-up connections of numerous home and office computers of wide-eyed cyber enthusiasts who hoped to connect and share the cyberspace with one and all. The reality […]
220 0 As the market rests momentarily after oscillating between red and green, there yet remains to be seen a universal, comprehensive set of regulations regarding cryptocurrencies. Amidst talks of bans, restrictions and electricity subsidies to miners, there seems to be no consensus amongst governments over one consolidated position on the fate of decentralised digital […]