Swarm forms the basis of the Ethereum network by providing a storage and distribution centre for data that is shared across Ethereum. Swarm is free of censorship and provides incentives to the nodes which pitch in their bandwidth and storage facilities. Whenever a node uploads some data over Swarm, it is broken up into parts called chunks. This chunking process is carried out by the chunker which basically divides the data into small pieces. The current Swarm Network has a Tree Chunker which divides the data in the form of a data tree. Whenever data is uploaded over Swarm, the chunker divides it in a way such that it forms a tree structure. This structure can then have leaf-nodes and branching nodes. The leaf nodes contain actual subslice of data whereas a branching node contains the hashes of all its children. Basically, the chunker is your most-impartial and fair pizza slicer.
The root-to-leaf branches should be of equal length (balanced) but the rightmost branch can be smaller than the rest. No two chunks of data can have the same hash and this makes sure that data integrity is maintained.
Just when you start losing hope in the Indian financial sector and related Indian government institutions, some organisation comes forward to make you feel worse by stating what the statesmen should already know. Industry body Nasscom (National Association of Software and Services Companies) has opposed the recent proposal for banning cryptocurrencies in India, saying it is “not a solution”. Read more about NASSCOM stands against the crypto ban …
China is a country known to the West as one that bans all of its products and tries to develop them indigenously. It is considered to be one of the most important players in the cryptocurrency market. The decisions of the Chinese government affect the entire industry, but cryptocurrencies and Bitcoin have been in a dangerous position in terms of regulations. The existing Chinese cryptocurrency laws are pretty strict. Read more about China Takes a Favourable Turn on Cryptocurrency …
2018 turned out to be very problematic for all those who invested in cryptocurrencies as most of the cryptocurrencies underwent losses between 80 to 95% from their all-time highs.
That was a harsh lesson for amateur investors looking for easy profits, forcing a high number of them to quit the market as they were not able to handle any further losses. However, what happened to the cryptocurrencies in 2018 is no different than what happens in financial markets: a rapid price appreciation, inflating a bubble, which when it bursts, affects all stakeholders.
Now 2019 has come along and some people have decided to stay out of it following the 2018 punch. However, if you’re up for it, here is a list of cryptocurrencies you should watch out for in the remaining half of 2019.
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 investors. The world of Cryptocurrencies might be large in length and breadth but the same has not stopped curious souls from learning more about the digital currency.
650 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.