Learn more about crypto with this collection
The differences between Web 2.0 and Web 3.0
The future of the internet
Understanding the potential of Web 3.0
Hashing involves an algorithm (a “hash function”) generating a fixed output (hash) from a data input of any size. In most blockchains, the hash is an alphanumeric string of fixed length.
Because a hash is dependent on block data, hashes serve as unique identifiers for blocks on the chain. Running the same data through the hash function will produce the same hash no matter how many times you perform the operation.
A change in a block’s data automatically triggers the generation of a new hash. Which is why it’s easy to know if a block containing transactions has been altered.
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Consensus algorithms allow participants on the blockchain to agree on the validity of transactions and the true state of the blockchain. In other words, a consensus is what makes the blockchain ledger a reliable and secure record of information.
In a blockchain network, every node must conf...
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Cryptography is useful for safeguarding blockchain wallets.
Wallets are used to store digital assets, including cryptocurrencies, non-fungible tokens (NFTs), or any other items created and transferred on the blockchain.
When users create a wallet, they get a public key and a private k...
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The blockchain is a distributed ledger technology that records all transactions conducted by participants in the network.
Networks are sustained by a group of computers (called nodes) distributed across the world. Each node can initiate transactions or validate new transactions, which is wh...
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Cryptoeconomics is based on game theory, a field of study that attempts to predict the interactions between different participants in a situation with defined rules and outcomes. When applied to blockchain networks, game theory can be used to encourage honest activity by providing adequate incent...
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Blockchains are extremely secure, making them ideal for transactions requiring high levels of data integrity and safety. For example, blockchains can be used to securely transfer money, track charity donations, safeguard records, and conduct voting.
Blockchain security is achieved through a...
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Other curated ideas on this topic:
Each blockchain block contains:
Although most people think of blockchain technology in relation to cryptocurrencies such as Bitcoin, blockchain offers security that is useful in many other ways. In the simplest of terms, blockchain can be described as data you can only add to, not take away fr...
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