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...
About Ethereum EVM’s high GAS cost
As cryptocurrencies mature, the promise of a worldwide distributed ledger and computing platform is now taken for granted by businesses around the world.
Billions of dollars we...
Bitcoin Blockchain to MySQL Insertion Tool
Crypto.BI Toolbox comes with a raw .dat block file to MySQL insertion tool called blocks_inserter. To use it, first you’ll need to generate the MySQL schema on your local server by importing scripts/sql/mysql/cryptobitoolbox_bitcoin.sql into your MySQL server. Then you will need to configure Toolbox with the appropriate username, password, host and database so that Toolbox […]
ELI5: What was Honeyminer?
Honeyminer was an automatic multiple coin mining program that pays users to use their spare computing power. Honeyminer leveraged a variation of the concept of micro mining, where participants who do not wish to invest in a dedicated mining setup contribute tiny amounts of mining power against a proportional reward. In October 2021 the company […]
Building the Haskell cardano-node on Linux
tl;dr; Jump straight to the build instructions The Details Looking forward to the Haskell mainnet, the next step in the Cardano project, I’ve begun exploring the cardano-node Haskell implementation. I find that exploring source code is much easier if you actually watch the program run for a while. So, the first thing a developer has […]
ELI5 What is cryptocurrency mining?
Mining is the process by which cryptocurrency transactions get verified. The process got its name from the fact that once a block is verified, whoever solved it will earns some coins as a reward, a little like gold mining – there’s a reward for the work. Early Bitcoin Mining When Bitcoin was launched, the idea […]
Concepts In This Page
Block Sync is the procedure by which a cryptocurrency node retrieves validated block data from P2P peers on the network. A full node may only verify the most recent transactions once it finishes the block sync to the latest block.
Ticker symbol for the Ethereum cryptocurrency.
Ethereum is a second generation cryptocurrency, best known for making Smart Contracts available to the masses.
Geth is the reference Ethereum implementation. It is written using the Go programming language, thus the G prefix.
A networking architecture where peers talk directly with each other, not using a central server or infrastructure. E.g. Bitcoin and Bit Torrent are P2P systems.
The process of mining cryptocurrencies using a general-purpose computer CPU. Today most PoW mining is performed by either dedicated ASIC chips or GPU cards.
Mining is the collective and decentralized effort performed by network participants in order to verify cryptocurrency transactions. Participants receive a reward for their work, which serves as an incentive for mining activity.
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.
EVM is an acronym for Ethereum Virtual Machine, the decentralized virtual machine which runs smart contract applications stored on the Ethereum blockchain.