Understand the Double Spending problem
As implied by the name, a double spending problem happens when a transaction is processed twice while your account balance is only subtracted once.
This, of course, can only h...
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...
ELI5 Provably Fair Games
What is a provably fair game?
The answer lies at the heart of a whole new industry which has been developed around the transparent, decentralized, nature of the blockchain.
ELI5 Bitcoin Puzzle Transactions
As the name implies, Bitcoin puzzle transactions are created as a challenge and not for the usual purpose of monetary transfer.
Puzzles can be published for several reasons, in...
ELI5 What’s a stablecoin?
Since the beginning of cryptocurrency history, most crypto assets have been known to experience enormous oscillations against the US Dollar (or some other legacy fiat currency).
Proof of Authority (PoA) Summary [Cryptocurrency consensus mechanisms]
Proof of Authority is a consensus mechanism where members of a cryptocurrency network are identified and receive delegated powers to solve blocks. If they defraud the system their identity is at stake and they will either be prosecuted or booted from the network. This is a centralized system where a higher authority delegates mining powers […]
Opinion: Tether is likely backed by Bitcoin U$ equivalents, not by cash US Dollars [June 2018]
A lot of the controversy surrounding the Tether cryptocurrency seems to focus on whether it is fully backed by US Dollar funds or not. Several relevant questions have been posed in this respect, such as why investors would keep U$ 2.5 billion (as of May 2018) in cash deposited as reserves for Tether, with little […]
ELI5: What is WINk? [Formerly TRONBet]
WINk is a decentralized gaming application hosted on the TRON blockchain. Formerly TRONBet Previously known as TRONBet, the platform is now live at WINk.org At the time of this writing, tronbet.io domain name was no longer responsive: Games WINk platform games include Dice, Poker, Casino (lots of games in this subsection), Sports and (soon to […]
bitcoind.cpp – Commented Bitcoin source code
As mentioned in the Bitcoin-Qt commented source code post, there are several approaches one can take to step into the Bitcoin source in approximately the same order as it runs. For instance, tests are a great source of tiny example programs. Then there’s the ubiquitous Bitcoin-Qt client and, of course, bitcoind. All are good options […]
Concepts In This Page
First Generation Cryptocurrencies
The first generation cryptocurrencies was spawned by Bitcoin. Several Bitcoin forks exist on this generation. Most 1st generation coins simply copied the Bitcoin source code while modifying the encryption algorithms and total coin supply.
Second Generation Cryptocurrencies
The second generation of cryptocurrencies added on-chain smart contracts and fully featured contract programming languages. Ethereum, which is the most notable 2nd generation cryptocurrency, brought smart contracts and introduced tokens to the masses, spawning the wave of ICO's from 2014 onwards.
Third Generation Cryptocurrencies
Third Generation Cryptocurrencies are still being developed. These include everything from second gen cryptos, plus on-chain governance, delegated Proof of Stake consensus and native compliance features. Cardano is a notable example of 3rd gen cryptocurrency project.
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.
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.
Cryptography and cryptocurrency based gaming.