source : https://blog.goodaudience.com/how-a-miner-adds-transactions-to-the-blockchain-in-seven-steps-856053271476 Step 1: A user signs off on a transaction from their wallet application, attempting to send a certain crypto or token from them to someone else. Step 2: The transaction is broadcasted by the wallet application and is now awaiting to be picked up by a miner Read more…
Cryptoasset = a digital asset, created, managed, and traded on a blockchain A cryptoasset is a digital asset that uses cryptography, a peer to peer network, and a public ledger to do three things : To regulate the creation of new units To verify transactions To secure these transactions without Read more…
Challenge 1 : The technology is not ready for prime time Greek citizens wouldn’t have known how to locate a Bitcoin exchange or ATM. Or how to transfer their drachmas into Bitcoin to escape the troubled currency. Strong infrastructure matters. It can’t be limited during crises. Unfortunately for Greece, its blockchain infrastructure was lacking at Read more…
Level of blockchain governance : Platform level Application level (distributed apps ) Ecosystem level Centralized paradigms are not as effective in the digital age. Blockchain stakeholders : Industry pioneers First mantra was : “We reject kings, presidents, and voting. We believe in rough consensus and running code” Vanguards in the Read more…
Attribution requires knowledge of two facts : Who holds the asset Who has created and is party to the contract A blockchain stores this information by recording where the asset originated, and tracking changes of ownership. On a blockchain, all transactions are recorded and stored in an immutable, trusted ledger. Read more…
Based on the course Introduction to blockchain Technologies by Insead and Don Tapscott / Alex Tapscott on Coursera Principle 1 : Networked integrity Honesty, consideration, accountability, transparency are coded into the blockchain. Integrity is distributed among nodes, not vested in a single member. Double-spend problem. cannot send the same dollar Read more…