All about Cryptocurrency Mining and Blockchain

Have you ever wondered how Bitcoin was introduced? From last few years, Bitcoin is a buzzing word in the market, with a bigger number of people trading in it. Now, Bitcoin has become a worldwide phenomenon, due to which it has a large number of followers. To fulfil that demand, we need more coins but as it is not associated with any type of central government so can’t be generated like a note; instead,...

Understanding Bitcoin transaction details

While looking at transaction details of Bitcoin, you see a few other transactions than the one you made. For example on blockchain.info, you might have came across different type of Bitcoin transactions. Lets have look at them one by one. Before we take a look closely on each type, it's worth noting that Bitcoin transfer from one account to another follow Unspent Transaction Output (UTXO) model. I will considering all the transactions form Block...

How to mine Ethereum on your PC

When talking about ethereum mining, most of the individuals think that they need supercomputers having large multitudes of computational power to pull it off. Well, it is not completely erroneous; unlike a couple of years back, mining cryptocurrency has become quite easier. This has become possible because of the rapid advancement of both cryptocurrency, and the blockchain technologies have experienced over the time. Those days are gone when you needed a mainframe with the processing...

Solutions to Scalability: Can Off-Chain Payments Scale Blockchain?

Scalability is one issue that has been troubling blockchain developers and is one of the biggest challenges before it can reach the masses. Below is the daily transaction chart showing transactions since October' 15. image source: etherscan.io The key here is that enough number of nodes must verify the transaction to confirm it as legitimate and to make sure that security isn't compromised, but few enough so as to allow the system to process...

Solutions to Scalability: Sharding Explained!

Cryptocurrencies have changed the ways of transactions whether they be business or personal. Below is a graph which shows the number of ethereum transactions per month over years. Image source: Etherscan.io It is impressive that cryptocurrencies such as Ether have grown so much over years. But the problem is that cryptocurrencies were not designed for such a widespread use. And as the virtual currencies have grown, many problems have surfaced. The most important and...

Understanding Ethereum Light Node

What is Ethereum light node? Ethereum light node protocol is big step towards bringing the Ethereum client to small devices with limited hardware resources. Details of light client protocol can be found at GitHub. Go-Ethereum or Geth 1.8.1 has an experimental implementation of light protocol. Lets have a look in detail. Installing Geth First you need to install geth. You can follow the instruction here about geth installation. $geth version Geth Version: 1....

What is Ethereum? | The Ultimate Beginners’ Guide

With the second largest market cap in the cryptocurrency world, Ethereum has drawn a lot of attention from investors and crypto enthusiasts alike. This relatively new cryptocurrency not only presents a significant change to the status quo, it also allows for the quick development and deployment of new applications. Ethereum essentially enables dozens of new and extremely innovative cryptocurrencies to exist. While Ethereum’s utility is obvious to programmers and the tech world at large,...

Understanding the concept of Private Key, Public Key and Address in Ethereum Blockchain

Before we get deeper into the concept of Ethereum Blockchain, it is important to understand how Public Key, Private Key and Address are generated. To make this easier for beginners, I am trying to explain the technical concept with an example. Ethereum key generation is based on elliptical curve ecp256k1. Eliptical curve (EC) is intense mathematics, and there are a lot of great articles on internet covering deep details of elliptical curve. There are standard...

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