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.
This article will look at one high profile applications on Ethereum, namely; Augur, excluding Digix and Maker. These are decentralized applications, otherwise known as Dapps on the blockchain.
When the internet was born, it proved to be a game-changer in many ways. From education, finance, health and industrial applications, it was hailed as a tool that would change the way we live. In addition, true to that, we have witnessed the truth of those expectations. However, it is far from achieving everyone’s dreams as initially portrayed.
Secret societies and other underground groupings involved in both illicit and dangerous activities are usually associated with anonymity and pseudonymity connotations. Secret organizations and underground groupings do not want to be tracked and latter prosecuted. Anonymity is thus a protection mechanism.
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.
The Asian Pacific region is one unique region in the world that has witnessed the rapid growth of blockchain application. Perhaps only next to Europe and the US, it has surpassed Latin America and Africa combined.
In part one, we stated that blockchain is not the answer or magic bullet for any challenge or problem. This article considers three more.
You may already know about the terms such as proof of work (PoW) and proof of stake (PoS) in relation to bitcoins, Ethereum and EOS cryptocurrency. Each cryptocurrency has a set of unique protocols that determine its operations. What though is Zero-Knowledge-Proof?
The need for more centralization and a choice of consensus mechanisms are among the critical factors that determine the success of individual enterprise blockchains. There are arguments that this compromises on the security feature as opposed to decentralization and scalability.
Although proof of work protocol had served the blockchain community faithfully since its inception with bitcoin, its inability to scale and its support for centralization were some of the identified weaknesses. How is the proof of work protocol perceived as supporting centralization?
