Blockchain is often referred to as a distributed, decentralized, database (imagine a giant Excel spreadsheet combined with Bittorrent) that stores all of the records we’ve put in it forever. But an even better analogy is the endless book of accounting records. However, not a single concept explains why the blockchain is so unique. In fact, Blockchain is not a whole new revolutionary technology, as it is sometimes judged – all the elements it uses, ie the Internet, cryptography, and transmission protocol, have been with us for decades (cryptography even much longer). So the revolutionary decentralized blockchain is not the technology itself, but the way it uses existing technology.

Smart Contracts

What are Smart Contracts?

In short, smart contracts are simply a type of contract between parties that uses Blockchain technology. The parties to the contract know...
Utilization of the Blockchain Technology

Blockchain Technology Applications

Blockchain has a big utilization potential in particular due to its decentralization. Since it is a rather new technology, numerous industries are...
Proof of Stake

Proof-of-stake vs Proof-of-work

When reading about cryptocurrencies, you might encounter heated online debates about which is better: proof-of-stake (PoS) or proof-of-work (PoW). There are many...

Hashing Function Basics

A hashing function is an algorithm that outputs a unique value based on an input. This value is basically impossible to deduce...
Cryptocurrency millionaire builds a city based on the programmable platform Ethereum

Cryptocurrency millionaire builds a huge utopian blockchain city in Nevada

Jeffrey Berns is a cryptocurrency millionaire who decided to change the world for the better use of blockchain, with the Ethereum programmable...