ICO Boom and Growing Adoption
After the inception of Bitcoin, many other cryptocurrencies were created, leading to a period of rapid growth in the number of cryptocurrencies available, often referred to as the “ICO boom”. ICO, or Initial Coin Offering, is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin or ether. It’s […]
The Rise of Ethereum and Smart Contracts
Ethereum has continued to evolve and make significant strides as of 2023. One of the key developments is the introduction of staked ether withdrawals. After Ethereum’s consensus mechanism transitioned to proof-of-stake (PoS) in September’s Merge, validators began staking 32 ether (ETH) on the PoS Beacon Chain to participate in the block validation process. However, these […]
Altcoin Emergence – cryptocurrencies
Altcoins are cryptocurrencies that were developed after the success of Bitcoin, and they were meant to address some of the limitations of Bitcoin or provide novel capabilities and use cases. These can range from different transaction speed, privacy enhancements, different consensus mechanisms, and so on.
Bitcoin: A Peer-to-Peer Electronic Cash System
AbstractThe abstract highlights the core concept of Bitcoin: a purely peer-to-peer version of electronic cash. The paper proposes a solution to the problem of double spending using a peer-to-peer network that timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. 1. […]