FAQs

New to the world of blockchain? The following quick guides are a great place to start!

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What is Blockchain?

November 2, 2018

A blockchain is a decentralized ledger that records all transactions. Each transaction that is conducted leaves a permanent record that can be referenced at any time. The structure of the blockchain allows these transactions to be self executing and immutable. Once validated, data is permanently recorded to the blockchain and cannot be altered in any … Continue reading What is Blockchain?

What is Cryptocurrency?

Background Cryptocurrencies such as bitcoin or ether are scarce digital assets which exist on a decentralized network of computers. The currencies, which are referred to as coins or tokens, can be used within their network as a digital store of value or a medium of exchange.  Digital Ownership In the same way that ownership of … Continue reading What is Cryptocurrency?

What is Decentralization?

Decentralized networks are made up of computers, also known as nodes, that interact on a direct, peer-to-peer basis without the need for third parties. Within a decentralized network, information is distributed to every single “node” on the network. Each node has an updated copy of the recorded data. Decentralized networks can also distribute data in such … Continue reading What is Decentralization?

Blockchain vs. Cryptocurrency

What’s A Blockchain? Blockchains are distributed ledgers secured by cryptography. They are essentially public databases which everyone can add to and read. Instead of the data residing on a single centralized server, the data is copied across thousands and thousands of computers worldwide. The consecutive string of every block ever executed makes up a blockchain: … Continue reading Blockchain vs. Cryptocurrency

What are Coins vs. Tokens?

January 29, 2019

In the brave new world of cryptographic assets, it can be confusing to determine what is what. When talking about cryptocurrency, the terms “coin” and “token” are often used interchangeably, even though this is not quite correct. There are several subtle differences between coins and tokens. Coins – Bitcoin, Ethereum, Monero etc. Are highly divisible and … Continue reading What are Coins vs. Tokens?

What is Forking?

February 7, 2019

A public blockchain can only exist by many node computers running the same software, which collectively maintains the record of the past of the network. Public blockchains offer completely open-source code, which allows any developer to iterate off of the existing code and make any changes that they desire. If either the collective record or … Continue reading What is Forking?

What is Decentralized Storage?

February 8, 2019

The data transmitted over the internet is often processed and stored in large-scale servers controlled by internet service providers and web services like Google and Amazon. This is the most efficient way to send information back and forth between users. Data is sent from one user, funneled through a centralized server, and is then sent … Continue reading What is Decentralized Storage?

What is Decentralized Computing?

Distributed computing has been around for a long time in computer science, but in 2015 the Ethereum foundation changed that. Ethereum’s innovation was to create an economic incentive for nodes to join and help maintain a global, distributed, computer system. Since 2015, Ethereum has risen to be the second largest cryptocurrency community, and a range … Continue reading What is Decentralized Computing?

What Can Blockchain Do?

February 14, 2019

While blockchain was created as a solution for the Bitcoin payment network, the concept has been adopted across a range of sectors and is expected to make a major impact in the way that we handle data storage. This technology even has the possibility to change the underlying structure of the internet. Currently, there are … Continue reading What Can Blockchain Do?

What is Bitcoin vs. Ethereum?

February 26, 2019

Satoshi Nakamoto is the name used by the person or people that created Bitcoin and wrote the Bitcoin white paper.   The name first appeared on the paper “Bitcoin: A Peer-to-Peer Electronic Cash” that was distributed by a cryptography mailing list in 2008. The very first Bitcoin transaction took place between Satoshi and Hal Finney, … Continue reading What is Bitcoin vs. Ethereum?