Blockchain and Crypto Blog

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

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Explaining Oracles - What Are Blockchain Oracles?

Written By Ivan on Tech

Aug 31, 2020

Oracles can sometimes be seen as the less glamorous side of blockchain technology, and are often taken for granted with some of the foundational support oracles provide in projects. What makes oracles so special? And why do we need oracles?

In this article we shall explain what oracles are and their role in the blockchain ecosystem, how oracles and smart contracts work together, and examples of the popular types of oracles in the cryptocurrency market today. Read on for a full breakdown of blockchain oracles!

What is a Smart Contract?

The first smart contract idea was proposed by Nick Szabo in 1994, however, it wasn't until 2015 when Vitalik Buterin launched the Ethereum Network, that smart contracts became deployable and used by developers.

Ultimately smart contracts are pieces of code that can move money from one account address to another, upon specified conditions being met.

Smart contracts can be for personal or enterprise use. You could create a smart contract to bet between a...

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decentralized finance decentralized marketplace decentralized marketplaces defi

DeFi Deep Dive - What Are Decentralized Marketplaces?

Written By Ivan on Tech

Aug 30, 2020

Decentralized marketplaces are a fascinating use case of blockchain technology. These crypto marketplaces allow users to deal directly with each other, instead of using a centralized point of contact. Traditional marketplace platforms may provide a system and platform that’s familiar. However, they lack transparency and charge high fees.

So, how exactly is a decentralized, blockchain-driven marketplace different from the standard affair? Is there a decentralized market out there that’s worth your time and attention? We will learn about all of this and much more regarding decentralized marketplaces in this article.

Decentralized marketplace vs Centralized marketplace

As mentioned above, all traditional marketplaces are more or less centralized in nature. In general, they function through having a company-owned platform connect different users to potential sellers. Nevertheless, this leads to the creation of middlemen. These middlemen can:

  • Charge exorbitant fees for...
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Everything You Need to Know About The History of Bitcoin Wallets

Written By Ivan on Tech

Aug 29, 2020

As interest in Bitcoin and cryptocurrency continues to surge, a growing number of questions arise around how to store crypto and Bitcoin safely and securely. One of the most popular alternatives for this is so-called Bitcoin wallets, or crypto wallets. Let's, therefore, take a look at the history of Bitcoin wallets and the different types of wallets available for your crypto storage.

In this article, we will cover the evolution of Bitcoin storage from the very beginning, then compare and evaluate the differences between the wallets back then and the ones used today.

By the end of reading this piece, you should be sufficiently well-versed and educated regarding the history of Bitcoin wallets. As such, you will be properly equipped to decide which crypto wallet option is best for you.

Firstly, if you are new to Bitcoin and how it operates, here's a brief overview of the technology powering cryptocurrency wallets, to better understand exactly how Bitcoin wallets work.

What Is...

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dao decentralized autonomous corporation what is a dao

Decentralized Autonomous Organizations - What is a DAO?

Written By Ivan on Tech

Aug 28, 2020

DAOs or Decentralized Autonomous Organizations happen to be one of the most innovative blockchain-based concepts. DAO is also known as DAC or decentralized autonomous corporation. The core philosophy is to create an organization that’s free from centralized control. 

As the name suggests, DAOs have three core features:

  • Decentralization: Not governed by one single, centralized entity.
  • Autonomous: The DAO can automatically execute operations on its own without any intervention.
  • Organization: The DAO is governed by its own predetermined rules, like an organization.

Since 2019, the support for DAOs has been increasing rapidly due to attention from the non-crypto world. An excellent example of this is the UK-based Nexus Mutual, which is the first decentralized mutual insurance incorporated as a cooperative and driven by a DAO. As such, decentralized autonomous organizations have made a pretty outstanding comeback since the disaster of 2016. However, we get into all that,...

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decentralized finance decentralized finance terms defi defi definition defi definitions defi terms what is defi

DeFi Encyclopedia - The Ultimate List of Decentralized Finance Terms

Written By Ivan on Tech

Aug 27, 2020

Decentralized finance (DeFi) continues to make waves in the crypto space with $7.22 billion in total value locked in, according to DeFi Pulse. Amazingly, over $6 billion of those funds have entered the market since June 2020! And throughout this year, DeFi continues to be the prime-mover driving the upcoming bull market. 

With all the interest in DeFi, have you tried to understand it but were overwhelmed by all the unfamiliar expressions and acronyms? If so, you’ve come to the right place. Simply bookmark this list of DeFi terms, and you can easily return here to scan through a wealth of information.

What is DeFi?

Put simply, DeFi is a financial ecosystem, mainlt built on the Ethereum blockchain composed of different platforms and protocols. With DeFi, you can move cryptocurrency tokens around, trade them, lend and borrow them. This creates a more efficient, and in many cases more profitable, financial ecosystem! Best of all, DeFi is open to anyone, meaning it is...

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Blockchain Social Media Platforms: Benefits of Decentralized Social Media

Written By Ivan on Tech

Aug 26, 2020

Are you curious about blockchain technology, or have you heard about decentralized social media platforms? Are you fed up with Facebook, Twitter, Instagram, and TikTok having governance over promoted content, taking users' data, and selling it to third-party organizations to promote certain posts or products to a targeted demographic?

In this article, we will discuss how blockchain-based social media platforms are able to help resolve these challenges, some of the different types of platforms available, and why decentralized social media networks are a necessary progression in social technology.

Firstly, in order to understand why decentralized social media platforms can benefit us, we need to understand the ongoing challenges we face with traditional social networks. Below we've explored the biggest data exploitation known to date, and furthermore how blockchain can solve these problems.

Current Issues With Social Media Networks

For content to reach 'organic' growth, it must adhere...

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decentralized finance decentralized finance in 2020 defi defi in 2020

Decentralized Finance in 2020 - DeFi Trends to Keep An Eye On

Written By Ivan on Tech

Aug 25, 2020

Despite its recent upswing in popularity, blockchain is still a relatively new technology that can be hard for some people to grasp. Bitcoin is probably the reason why most people know what blockchain is. However, Bitcoin as a currency relies on its vibrant community and underlying blockchain capabilities to keep growing and attracting users. 

Ethereum, on the other hand, is the reason why DeFi is growing at a tremendous rate. Ethereum’s support for smart contracts and the ability to tokenize it makes Ethereum perfect for a financial revolution, and is the reason why Decentralized Finance (DeFi) is hotter in 2020 than ever before. Let’s, therefore, take a look at decentralized finance in 2020 and what it means for the future of blockchain and finance!

How Decentralized Finance Works

Central authorities still largely dominate the traditional financial system. The role of these central authorities is to regulate the system, and act as middlemen between various...

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Definition and Use Cases of Non-Fungible Tokens (NFT)

Written By Ivan on Tech

Aug 24, 2020

There appears to be an ever-increasing amount of information to learn about the various blockchain ecosystems. One of the terms that has recently seen an upswing in interest surrounding NFTs. NFTs (Non-Fungible Tokens) are becoming more established as the crypto sector heats up in what many hope will constitute a 2020 - 2021 bull run. So, what are NFTs?

In properly answering that question, however, we need to take a closer look at what non-fungible tokens, or NFTs, offer. Specifically, NFTs are bringing valuable assets to the blockchain through a wide array of industries including gaming, art, fashion, and real estate.

In this article, we’ll explore some of the key use cases for non-fungible tokens. We’ll also look at some of the latest token standards, how they are implemented, and what gives them value. First and foremost, however, we need to take a look at what blockchain technology actually is.

What is Blockchain Technology?

You may be familiar with blockchain...

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decentralized finance defi dydx what is dydx

DeFi Deep Dive - What is dYdX?

Written By Ivan on Tech

Aug 23, 2020

Anyone keeping an eye on the DeFi sector will likely have come across the term “dYdX”. However, what is dYdX - and what is it used for? dYdX is a powerful, decentralized exchange (DEX) that supports spot, margin, and perpetuals trading. It is a permissionless platform powered by smart contracts on Ethereum that supports lending, borrowing, and most importantly, margin trading. 

In the true spirit of decentralized finance (DeFi), anyone can use dYdX without registering or handing over their assets to a central party. It is open, trustless, and non-custodial. Users can swap ETH, USDC, and DAI pairs as well as BTC and ETH on perpetual markets. We will touch on perpetual markets in a later article.

Trading Tools on the Blockchain

dYdX wants to bring trading tools from the traditional world of finance to the blockchain. Although it is decentralized, trading on dYdX is similar to trading on a centralized exchange (CEX). Options and margin trading are standard in...

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fungibility privacy coins privacy coins 2020 privacy coins list

Privacy Coins 2020 - What Are Privacy Coins?

Written By Ivan on Tech

Aug 22, 2020

For as long back as one can remember, the cryptocurrency community has been demanding for privacy coins. Coins that promised true anonymity, instead of pseudonymity, aka, false privacy as offered by Bitcoin. So, in this article, we are going to look up some of the top privacy coins in the world. Are the usual suspects still leading the privacy coins 2020 list, or do we have some surprising names in the mix? Let’s check it out. 

The need for privacy coins

There are two reasons why privacy coins are highly desirable:

  • Privacy
  • Fungibility

The need for privacy coins #1: Privacy

As mentioned before, the privacy afforded by “normal” coins such as Bitcoin and Ethereum isn’t absolute. To illustrate this point, consider the following example. We went to a blockchain scanner and picked up a random public address “bc1qq3fc75ppp5kq2qpe29wyl0708hzxxu34xk5836.”

Now, when you click on the address, you get this:

As you can see in the diagram, we have a list...

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