Blockchain and Crypto Blog

Ivan on Tech Academy provides latest insights and reports about the blockchain industry.

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Distributed Ledger Technology (DLT) and Blockchain

Written By Ivan on Tech

Jun 21, 2020

DLT, which is short for ”distributed ledger technology”, and blockchain are two similar terms. Their similarities make them confusing to separate, and in some cases, some are using them as synonyms. Although they are similar in a lot of ways and share features, they are still not exactly the same. 

In essence, blockchain is a kind of distributed ledger technology, or DLT, which might explain why people are confusing the two terms with one another. This means that DLT is the umbrella expression that blockchain falls under. This means that the term blockchain was coined after distributed ledger technology. Nonetheless, the more familiar word is that of blockchain. This is one of those instances when the name of a “product”, much like rollerblades, yo-yo or aspirin, takes over and becomes the word for a whole phenomenon. In this case, blockchain is always one kind of DLT, but all DLTs are not always blockchains. 

The word blockchain is also trendy to...

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Decentralized Money Markets and MakerDAO

Written By Ivan on Tech

Jun 20, 2020

Decentralized Finance (DeFi) is all about creating an open-source, permissionless, transparent, financial ecosystem available to anyone with an internet connection. 

DeFi offers a set of products and services similar to that of the conventional financial world except they’re built on a blockchain—notably Ethereum (ETH). And one of the most popular and fastest-growing sectors of DeFi is the money markets. 

What are Decentralized Money Markets?

Traditional money markets exist for the borrowing and lending of assets—likewise, for decentralized money markets. However, the assets involved can be cryptocurrencies and it is smart contracts (not middlemen bankers) that dispense the interest payments and enforce the terms of the loan. No middleman means higher returns for the lenders.

Another big difference is that when you participate in DeFi you can make money off interest payments—unlike the current financial system that’s been operating on zero or...

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financial freedom

Could Crypto Be An Exit Plan Towards Financial Freedom?

Written By Ivan on Tech

Jun 19, 2020

Many investors understand the significance of having an exit plan if they partake on any investment in hopes of large capital gains. The objective is relatively the same: never needing to back to work! However, could crypto be an exit plan towards financial freedom? The blockchain education platform Ivan on Tech Academy has numerous blockchain courses for anyone looking to learn more about crypto. However, this article takes an in-depth look into what many are afraid to ask. Can crypto be an exit plan towards financial freedom?

What is Financial Freedom?

As an investor, one can often wonder, what is the right exit plan? What is the goal? At least from a low and middle-class perspective, in my opinion, the end-goal should be financial freedom!

But what really is financial freedom? And most importantly, how does a graduate investor who just gained new money through investments, get there?

Great, undisputable authors such as Robert Kiyosaki, Warren Buffett, Bill Gates, all teach us...

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How Blockchain Technology Changes M&A Transactions – The Disruptive Power of Smart Contracts

Written By Ivan on Tech

Jun 18, 2020

The application of smart contracts will disrupt the mergers and acquisitions, or M&A, industry. In the process of an M&A transaction, many different parties are involved, like investment bankers, lawyers, and auditors. Those intermediates become at least reduced through the blockchain technology. Furthermore, smart contracts make the transaction programmable and offer many other benefits like accuracy, automation, speed, and cost reduction. How a cost reduction could affect the M&A market is challenging to predict.

One possible outcome is that investors have more capital available for other transactions. This would possibly increase the number of M&A transactions overall. Another likely scenario is that through a cheaper process, investors with smaller capital try to get into the market and increase competition. Eventually, smart contracts reduce the risk for investors because they can build trust beforehand. Finally, smart contracts automate the transactions...

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Breaking Down ETH 2.0 - Sharding Explained

Written By Ivan on Tech

Jun 17, 2020

Over the past few days, we gave you a general overview of how Ethereum 2.0, or ETH 2.0, works and then showed you ETH 2.0 Staking and the Casper Protocol’s nuances. In this one, we are going to look into another massive feature of ETH 2.0 – Sharding.

Layer 1 vs Layer 2 Scalability

One common criticism of various cryptocurrency and altcoin systems is that of scalability. Put simply, if cryptocurrency and blockchain technology is going to drive the DeFi world of tomorrow, it needs to be able to support billions of people. This is something our comprehensive DeFi guide goes into in-depth, but there are already many solutions. Scalability techniques mainly fall into the following categories - layer 2 and layer 1.

Layer-2 scalability

These are off-chain scalability solutions built on top of the blockchain. The idea here is to leave the base layer alone and put on extra architecture on top of it. This layer deals with complex computations which mitigates the architectural...

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Bitcoin Safety and Security: 9 Steps to Keeping Your Cryptocurrency Safe and Sound

Written By Ivan on Tech

Jun 16, 2020

Many true cryptocurrency enthusiasts are self-taught. Although this process of learning by oneself, such as through reading and watching videos online and making mistakes on the way gives investors a great degree of understanding for the crypto markets. However, it is not a time-effective way to learn about crypto. This article is written to help you avoid the mistakes that cost investors thousands of dollars every year. Moreover, it involves nine clears steps towards keeping one’s cryptocurrency safe and sound. The writer of this article, Piotr, lost money twice when an exchange he kept money on got in trouble. 

Bitcoin Safety

Remember the case of Quadriga’s Founder Gerald William Cotten? The only person in hold of all the private keys (controlling around $150 million of clients cryptocurrencies) died in strange circumstances while in India. Or the Cryptopia Hack that ended the short story of this exchange? I (Piotr) kept digital assets on both of these...

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decentralized exchanges decentralized finance decentralized insurance decentralized money markets decentralized stablecoins decentralized synthetics defi dexs

The Ultimate Guide to Decentralized Finance (DeFi)

Written By Ivan on Tech

Jun 15, 2020

What is DeFi (Decentralized Finance)?

Decentralized Finance, more popularly known as DeFi, is an umbrella term for the next-generation financial applications ecosystem currently emerging. What sets the DeFi field apart from traditional finance applications is that it employs public blockchain technology. This is the same technology underpinning cryptocurrencies, and has become hotter than ever in past years.

DeFi, which is sometimes known as “open finance”, encompasses a broad variety of various subjects. To name a few, these include decentralized exchanges, decentralized stablecoins, decentralized money markets, decentralized synthetics and decentralized insurance.

This can all be a lot to take in. No matter what, it is clear that the most important takeaway is that the various applications in the DeFi field are decentralized. You might have heard about decentralization in relation to blockchain technology or cryptocurrencies - but what does it mean?

Blockchain...

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decentralized exchanges decentralized money markets decentralized stablecoins decentralized synthetics defi intro defi introduction dexentralized insurance dexs what is defi

What is DeFi - A Brief Introduction to Decentralized Finance

Written By Ivan on Tech

Jun 14, 2020

Blockchain-driven innovation is heating up. However, Bitcoin is still the elephant in the room when it comes to discussing crypto with the average person. In terms of sheer brand recognition, it always wins hands down. However, there are more interesting things going on right now in the crypto space, and one of them is Decentralized Finance or DeFi.

Not to dismiss Bitcoin or minimize its role in bringing about the blockchain revolution, but let's just say that while Bitcoin's price has been lurching sideways like a dawdling old grandpa (falling off its walker each time it bumps into the $10k resistance barrier), DeFi has been sprinting around the track like Usain Bolt. In fact, some observers are already predicting that DeFi might well be the next big thing in the blockchain field.

Things can change quickly in crypto, but presently, DeFi is performing well as a family of assets and frankly, it's a more exciting space to be in. So, if you're new to crypto or you've only been...

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Breaking Down Proof-of-Work Mining and 51% Attacks

Written By Ivan on Tech

Jun 12, 2020

Proof-of-work blockchain networks rely on decentralized mining for consensus and for protection from double-spending. Bad actors may try to gain a large proportion of the network hashpower to engage in what’s known as a 51% Attack. By controlling a majority of hashpower the double-spending protection can be overcome. We review proof-of-work mining and the ways that blockchains can remain safe from 51% attacks. 

Blockchain Network Basics 

Let’s step back a moment and review the structure and workings of a permissionless, distributed, proof- of-work blockchain to learn how 51% attacks are possible. 

Distributed blockchain networks consist of many computers running the same code while connected to each other via the Internet. Each computer is called a node and nodes can be located anywhere in the world. 

The biggest networks have thousands of nodes with each node carrying a full copy of the entire blockchain. All nodes are in constant communication with...

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Explaining Libra - Is There Light At The End of the Tunnel for Facebook’s Crypto?

Written By Ivan on Tech

Jun 12, 2020

It was on June 18, 2019 that Facebook announced a piece of unprecedented news: the launch of its mysterious cryptocurrency called Libra. This news brought much doubt and surprise around the world, and would subsequently go on to encounter a plethora of obstacles. This meant several of the members of the Libra association would begin to doubt their permanence. This guide breaks down what has happened so far and explains Facebook's Libra.

Launching Libra

From users of the social network, to the presidents of various countries, many had different reactions to Libra. Specifically, this was the great bet that Mark Zuckerberg had up his sleeve to finish knowing absolutely everything about us: our money.

The natural reaction of the banking sector, politicians and government authorities was total rejection and anguish since Libra officially represented the breakdown of the current economic model, based on the outdated and unsustainable banking system, which would only bring very bad news...

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