Bill is a writer, geek, crypto-curious polyheurist, a dog's best friend and coffee addict. Information security expert, encryption software with interests in P2P networking, decentralized applications (dApps), smart contracts and crypto based payment solutions. Crypto Bill has published a total of 413 Posts
ELI5 How to mine Litecoin
Litecoin has consistently been one of the most popular cryptocurrencies since its inception in 2011.
It was initially forked from the main Bitcoin source code by a developer ca...
Understand the Double Spending problem
As the name implies, the double spending problem consists in executing a transaction twice while subtracting just once from your account balance.
This, of course, can only hap...
avax-python Network Message Pipeline
Here's a short overview of the avax-python Avalanche message pipeline.
We've followed the reference Go implementation as closely as possible, but the Python code is still in ve...
avax-python Implementation Notes
Here you'll find a few implementation notes about avax-python. This is mainly targeted at developers who wish to work on the Python source code.
Python <- Go
Scrape AVAX network peers using avax-python
P2P networking is the single most important technical functionality in all cryptocurrency implementations. The decentralized nature of Bitcoin, AVAX, Ethereum and others requires ...
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cavax – Experimental C language tools for AVAX Avalanche exploration
cavax is an experimental implementation of C language utils for the exploration of the Avalanche AVAX protocol. Initially, cavax supports limited networking and basic passive functionality (e.g. it does not actively verify vertices). cavax listens to the Avalanche network and calls hooks that you can set up to handle each message type. Some default hooks […]
AVAX mainnet officially launched [Sept 22, 2020]
AVAX mainnet has launched with thunderous success! As we write this article, AVAX has gained over 620% (8 AM UTC) in the first 4 hours of trading at Binance. Volume stood at impressive U$ 72 million in just hours (> $100 million when we last updated this text 1 hour later). Despite some profit-taking during […]
ELI5 How AVAX validation works [Avalanche Protocol]
According to the Avalanche AVAX token distribution policy, almost 50% of all AVAX in existence will go towards validator rewards (see chart at the top). Since the Avalanche protocol burns all fees, the only source of inflation in the AVAX ecosystem is the validation reward. This presents a great opportunity for those who join the […]
ELI5 AVAX IOU? Is it the real AVAX coin?
November 2020 Update As of November 18, AVAX price has remained remarkably stable – for cryptocurrency standards. Coincost shows the AVAX IOU slowly depreciating, although it’s unclear how much volume is being traded at these prices. September 22 Update AVAX mainnet has been launched and, as it turns out, IOU price was actually lower than […]
Concepts In This Page
A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
Litecoin is a first generation cryptocurrency which was originally forked from the Bitcoin source code. It substituted Bitcoin's SHA256 hashing algorithm for Scrypt as an attempt to make ASIC mining impossible.
A PoW based mining method by which Litecoin transactions are verified and blocks get produced.
Double spending is a condition where the same value can be spent twice, revealing a flaw in the payment processing system.
Irreversible transactions are a characteristic of digital payment systems which offer trustless decentralization. The irreversibility is necessary in order to guarantee that no transaction will be undone once committed by the network.
Passive Income refers to obtaining financial returns without requiring work by the investor. In cryptocurrencies, investors usually seek passive income by Staking, lending or via DeFi.
A Python library and utils for Avalanche AVAX.