Cryptocurrency Transactions (TX’s) are the logical object which tie an unspent output to a new input, forming the chain which allows us to control address balances. Transactions are grouped into blocks which, when verified by mining or staking, form the blockchain.
Browsing 8 results under Cryptocurrency Transactions
How can I sell Bitcoin?
There are many ways in which you can sell your Bitcoins.
Over the counter (OTC) trade is growing everywhere, thus fulfilling one of Satoshi's original ideas, which was to have...
ELI5 : What is Proof of Trust (PoT)?
Proof of Trust is a consensus mechanism where users "stake" the trust they've earned in a network in order to verify cryptocurrency transactions.
In a proof of trust system, us...
What is cryptocurrency mining?
Mining is the process by which cryptocurrency transactions are verified. The process got its name from the fact that once a block is verified, whoever solves the block will earn s...
Opinion: Decentralized blockchains can only survive having a valuable token, like Bitcoin, attached to them [Feb 2018]
We’ve heard this time and again, especially from folks in the financial sector: “blockchain is here to stay, Bitcoin not so much”. Is this really so? We disagree, and in this article we discuss the origins of Bitcoin and how the problem it solved only makes sense when there’s a reward for participants to join […]
Proof of Burn (PoB) Summary [Cryptocurrency consensus mechanisms]
In the Proof of Burn (PoB) consensus mechanism, miners earn the right to mint the next block by burning some value in the blockchain. All proof systems are based on the principle that minting a block must incurr in some cost, otherwise fraudsters could inject invalid transactions into the blockchain. Bitcoin achieves this by making […]
Proof of Capacity (PoC) Summary [Cryptocurrency consensus mechanisms]
Proof of Capacity (PoC) consensus algorithms require network participants to prove they have performed a certain amount of storage operations in order to mine a valid block. Where Proof of Work consensus requires users to prove they have performed computations in time (to guarantee a 10 minute space between Bitcoin blocks, for example), Proof of […]
Proof of Trust (PoT) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Trust system, users in a network gain trust as they participate in special activities within the network. If a user tries to defraud the system, the trust is lost and they lose an equivalent amount in value (the cryptocurrency or token employed). In a Proof of Trust system, “trust” is staked […]
Concepts In This Page
Cryptocurrency Transactions (TX's) are the logical object which tie an unspent output to a new input, forming the chain which allows us to control address balances. Transactions are grouped into blocks which, when verified by mining or staking, form the blockchain.
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.
Cryptocurrency Tokens are coins which are managed using smart contracts stored on blockchain. A token depends on an underlying blockchain, whereas coins have their own sovereign chains.
A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.
Elon Musk is a serial entrepreneur who co-founded innovative companies such as Paypal, Tesla and SpaceX. His ambitious projects and impressive technical feats have catapulted him to the helm of business innovators.
HashCash is an early Proof of Work (PoW) system developed by Adam Back. Its initial purpose was to fight email spam, but HashCash ended up becoming a central component of the Bitcoin consensus mechanism.