With so many cyber-attacks launched against conventional Information systems around the world, resulting in the loss of billions of dollars, many have wondered how secure blockchain really is. This article will provide some insight into how blockchain is designed and secured at the same time.
By Lumai Mubanga. [email protected] All cryptocurrency users have two types of digital signatures. These are private and public keys. Recall that both messages and transactions are sent over the Bitcoin network pseudonymously and trustlessly. This is achieved partly through the use of digital signatures. Transactions contained in previous blocks of the blockchain are tamper-proof, meaning […]
Blockchain is a combination of two long-standing technological developments.The first one is distributed ledger technology, and the second one is cryptography. The same holds true with bitcoins as a cryptocurrency. Its base is the blockchain which sits on the two old technologies. We see how human innovation is truly avoiding reinventing the wheel and the efforts are paying off.
The blockchain technology has introduced many terminologies. Common terminologies associated with this include blockchain itself, micropayments, digital currency, and cryptocurrency, halving bitcoins, trust protocols and smart contracts. If you are new to blockchain technology, surely you have a lot to learn. This article will look at smart contracts in simple terms.
An earlier article looked at the most likely obstacles developing countries are most likely to contend with in adopting blockchain technology in their businesses and government operations. However, this does not mean that all developed countries will easily adopt blockchain as it becomes available.
By Lumai Mubanga. [email protected] When Nakamoto Satoshi released the source code for bitcoins in 2009, he probably did not realise the wider effects of that act on the world economy. He set forth a stream of innovations that would give birth to different terms and expressions that would become common in our century and beyond. […]
By Lumai Mubanga. [email protected] In our use of fiat currency like the dollar and many other currencies, we use physical wallets made of leather or other materials to carry our money around. We may not be faced with hard decisions to make when purchasing these wallets. We are in control and we decide when to […]
Launched in 2017 by the Linux foundation, hyper ledger has been gaining momentum, perhaps more that bitcoin blockchain. What is it that could be making hyperledger more appealing than its predecessor?
One critical problem that the world faced sometime back was the use of diamonds to fund rebel groups against governments. Such diamonds were referred to as conflict diamonds, or “blood diamonds.” Africa was full of news related to this in the DRC, Central African Republic and Sierra Leon.
Much like any other technological development, the crypto space has seen an explosion in the number of companies that have sprang up to directly or indirectly support the ecosystem.
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