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In 2013, a document for Ethereum was written by Vitalik Buterin. This document describes an open distributed computing platform, accessible to the blockchain, which can execute smart contracts: applications that work exactly as planned, without any possibility of downtime, censorship, fraud or third-party interference. Ethereum allows developers to create and implement smart contracts, as well […]
The Proof of Stake consensus algorithm was introduced in 2011 on the Bitcointalk forum to solve the problems of the currently most used algorithm: Proof of Work. Although both have the same goal of reaching consensus in the blockchain, the process to achieve the goal is completely different. How does it work? The Proof Of […]
Before plunging into the 51% attack, it is very important to have a good knowledge of mining and blockchain based systems. One of the main strengths of Bitcoin and the underlying blockchain technology is the distributed nature of data collection and verification. The decentralized functioning of the nodes ensures compliance with the rules of the […]
Originally dated in 1993, the Proof of Work concept was designed to prevent denial of service attacks and other abuses of services such as network spam, requiring some work for the service user, which usually means time for computer processing. In 2009, Bitcoin presented an innovative way to use Proof of Work as a consistent […]
The ideas behind the blockchain were conceived back in 1991, but it was not until 2009, when Bitcoin was developed, that more attention was paid to this technology. Bitcoin was created by a person or group of people under the pseudonym Satoshi Nakamoto. Although Satoshi Nakamoto still doesn’t know for sure, their technological innovations have […]
A smart contract is computer software developed as an auto-fulfillment contract, which means that it starts certain actions after the predefined conditions have been met. A Smart contract can be used, for example, as digital agreements that interfere with the exchange of cryptocurrencies (or any other digital resource) between two parties. As soon as the […]
A genesis block is the first block ever recorded in its corresponding blockchain network, also sometimes referred to as Block 0 or Block 1. When a block is transferred to a blockchain, it refers to the previous block. However, in the case of a genesis block, the previous block is missing. Since there is no […]
Cryptocurrency mining is a process in which transactions between users are checked and added to the open book of the blockchain. The extraction process is also responsible for introducing new coins into the existing negotiable offer and is one of the key elements that allow cryptocurrencies to function as a decentralized peer-to-peer network, without the […]
The Merkle tree is a way to organize and structure large amounts of data to simplify processing. In the case of cryptocurrencies and blockchains, the Merkle tree is used to structure transaction data so that it does not require large resources. When a cryptocurrency transaction is executed in a Merkle tree, it is hashed and […]
Blockchain Technology and the evolution of the digital world has led to a sizeable outbreak of sophisticated cyber attacks, with attackers continually refining their methods to find new vulnerabilities and chinks in the armor of organizations of all shapes and sizes. Hackers enjoy getting their hands on sensitive data, but an almost impenetrable technology, known as […]
A recent 51% attack which took place in the Bitcoin Cash network, the price of Bitcoin Cash has appreciated against both USD and BTC and the attack was coordinated by both the BTC.com and BTC.top mining pools. A 51% attack happens when somebody controls most of the mining power on a Proof-of-Work having a network […]
Telegram is a popular privacy-focused encrypted instant messaging service. Recently, the messenger platform announced the launch of a new programming language ‘Fift’, created for its Telegram Open Network (TON). According to a post published on the project’s Telegram channel, the Fift language has been specifically designed for developing and managing TON blockchain smart contracts. The […]
Microsoft is set to host its annual Build event on May 6, and before it, the Redmond company has unveiled its fully managed blockchain service in partnership with banking giant JP Morgan. To clear the air, Azure Blockchain Service is not to carry out cryptocurrency transactions, albeit an enterprise service meant for businesses to allow […]
Telegram instant messaging service will launch a private beta test of your blockchain, Telegram Open Network (TON), reported cyber forensics course experts from the International Institute of Cyber Security (IICS). Features Telegram Open Network is designed to have superior speed and scalability. First of all, this means you can process millions of transactions in seconds. […]
The most recent days have been somewhat convulsed and frightening for the cryptocurrency community members. According to a group of cybersecurity and ethical hacking specialists, last week Bitcoin reached a value of a little more than $5k USD, although for some this means that the virtual asset market will eventually collapse, as they’ve been saying […]
The fingerprint security feature of Samsung Galaxy S10 and S10+ has been hacked using only a 3D printer and printed fingerprint of the owner. The hack can be carried out without the presence of the actual owner since a printed copy of the fingerprints is used. When evaluated by security researchers it was confirmed that […]
Academics describe scenarios that put the use of blockchain technology at risk Network security specialists from the International Institute of Cyber Security reported a couple of weeks ago an unusual incident in Coinbase, a cryptocurrency exchange platform: an attack on its blockchain. In the attack, a hacker somehow managed to take control of more than […]
J.P. Morgan Chase is set to become the first major U.S. bank to launch its own cryptocurrency. The bank has created its digital currency dubbed ‘JPM Coin’ that will be used to carry out a few transactions initially. The engineers at the New York-based bank have leveraged blockchain technology to create digital tokens that will […]
The Canada-based cryptocurrency exchange QuardigaCX has suffered a major setback after the untimely death of its founder and CEO Gerald Cotten. Apparently, Cotten had exclusive and crucial information about the exchange’s password. Now that the CEO is no more, the exchange claims to have lost access to an exorbitant virtual currency amount that totals around […]
Most of the news about blockchain is regarding making money or saving money, either in the form of cryptocurrency or logistical efficiencies. But the Project Heritage has put a new spin on the blockchain that might have you giving your money away. What is Project Heritage? A-Cubed is a Silicon Valley-based unit of Airbus that […]
Samsung is soon to make its most-anticipated Galaxy S10 series official. With rumors joining the rumor mill each day, the most recent one hints at a possible new feature by the company. According to a tweet by tipster Ben Geskin, the South Korean company is likely to launch its blockchain wallet for cryptocurrency along with […]