In blockchain terminology, an ommer (also known as an uncle in Ethereum) is a block that was mined but not included in the main blockchain, typically because another block was added to the chain at nearly the same time. Ommer blocks are valid blocks that met the necessary proof-of-work requirements […]
Month: August 2024
On-chain governance is a system of managing and implementing changes to a blockchain network directly through the blockchain itself. In this governance model, decisions about protocol upgrades, rule changes, and other important network modifications are made by stakeholders (e.g., token holders, validators) through a voting mechanism embedded in the blockchain. […]
Private and public blockchains are two types of distributed ledger technologies, each with distinct characteristics that make them suitable for different use cases. Understanding the differences between them is crucial when deciding which blockchain type best fits your needs. Here’s a breakdown of the key differences: 1. Access and Participation […]
Using a private blockchain for your company can offer several unique advantages, particularly in areas like security, control, and efficiency. Here are the top 5 benefits: 1. Enhanced Security Controlled Access: Private blockchains restrict access to authorized participants only, reducing the risk of unauthorized access and malicious activities. Each participant […]
Proof of Burn (PoB) is a blockchain consensus mechanism that requires participants to “burn” (destroy) a portion of their cryptocurrency to gain the right to mine or validate transactions. The idea behind PoB is that by sacrificing something of value (in this case, cryptocurrency), miners prove their commitment to the […]
Proof of Capacity (PoC) is a blockchain consensus algorithm that allows participants to mine cryptocurrencies using the storage space on their hard drives. Unlike other consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS), which require either computational power or a certain amount of cryptocurrency holdings, PoC […]
Proof-of-Elapsed-Time (PoET) is a consensus algorithm used in blockchain networks to determine which participant (node) gets to add the next block to the blockchain. It was introduced by Intel and is designed to be an efficient, fair, and secure method for reaching consensus without the high energy consumption associated with […]
How to Start Trading on BingX: A Step-by-Step Guide BingX is a popular cryptocurrency trading platform known for its user-friendly interface and advanced features. Here’s a step-by-step guide on how to start trading on BingX: Step 1: Sign Up for a BingX Account Visit the BingX Website: Go to the […]
Buying cryptocurrency with a credit card is a straightforward process, but it’s important to follow the steps carefully to ensure a smooth transaction. Here’s a step-by-step guide on how to buy crypto with a credit card: 1. Choose a Reliable Cryptocurrency Exchange a. Select a Platform Reputation: Choose a reputable […]
BingX is a cryptocurrency exchange platform designed to facilitate the trading of digital assets with a range of features aimed at enhancing the trading experience. Here’s a comprehensive introduction to BingX, covering its key features, benefits, and how it works: 1. What is BingX? Definition: BingX is a cryptocurrency exchange […]
