Token distribution
Blockchain token distribution can refer to two concepts: 1) Rules and methods of token distribution among project founders, participants, users and investors2) Statistical distribution of the token among all token holders 1. Rules and methods for token distribution When a new token is issued and token economy of a project or organisation is planned, a decision […]
Smart contract (what is a smart contract on Bitcoin or Ethereum blockchain)
In simple terms, Smart Contract is a program code, a software application. Smart contracts are the same as dApps (decentralized applications). The only significant difference from the other type of program code written, for example, in Python programming language, is that in case with smart contract it is hosted on blockchain. Since all data and […]
What is NFT (non-fungible tokens)
NFT (Non-fungible tokens) have been around for a few years now but have gained most of its popularity just recently (2021). “Non-fungible” is a household definition in crypto / blockchain ecosystem and generally speaking it means “unique”. Each non-fungible token is unique as opposed to fungible tokens such as crypto currencies. Bitcoin, Ethereum and other crypto currencies […]
What is IPFS in a decentralized file storage system?
IPFS is a decentralized file storage system, where the IPFS acronym stands for InterPlanetary File System. For those familiar with other distributed file systems, such for example as HDFS (Hadoop Distributed File System), IPFS has a lot of similarities in its design and function to other distributed file systems. It operates a network of nodes where the same file/blob can […]
What is the Immutable Ledger feature Of Blockchain networks?
A ledger is a record of transactions and balances. Very simplified, it’s a book of records that the bank keeps remembering how much everybody has in their account. Similarly, a treasurer of a club might keep a ledger for certain club purposes. One of the distinct and useful features of blockchain is that its ledger […]
What is Facebook’s Libra Reserve?
Facebook Libra’s Reserve is a basket of historically stable currencies that solves two problems: According to publications and as explained in my blog post – – The reserve basket will initially consist of a mix of stable currencies (such as Japanese Yen, Swiss Franc, British Pound, Euro and USD). Unlike some other cryptocurrencies (such as […]
What is an Ethereum node?
An Ethereum node is a computer connected to internet and running an Ethereum blockchain client. It may be: (A) a part of a public Ethereum blockchain (there is only one main net) (B) a part of a private Ethereum-based blockchain Latter case is popular with enterprise applications. In such case they do not need to […]
What is Decentralized Finance (or DeFi)
Decentralized Finance or DeFi typically refers to the technology trend (including related companies, products and services) where blockchain and DLT powered technology-intensive products and services replace similar services previously offered by traditional banks and traditional financial industry. DeFi introduces new possibilities into Finance markets and fintech thanks to unique features it offers such as direct (peer-to-peer transactioning), self […]
What is the difference between Hot and Cold crypto wallets?
Cold wallet is a truly decentralized crypto wallet. This means it is only generated once and user (wallet owner) is personally responsible for storing its secret key. If the secret key is lost, nobody will ever be able to recover crypto assets (tokens and coins) held in the wallet. Hot wallet is managed by someone […]
What is a Crypto wallet?
Crypto wallet for end user is similar to a mobile banking app where they can see their balances and make transactions. Main differentiation – crypto wallet allows to hold and manage blockchain tokens (including cryptocurrencies). As blockchain transactions are decentralized, no central party has control over user holdings and transactions. All other things being equal, […]
