Blockchain and Crypto Blog

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

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Game Theory Blockchain Mechanisms Explained

Written By Ivan on Tech

May 15, 2020

Game theory blockchain applications can help you understand how decentralized cryptoeconomic systems work without falling victim to internal disintegration and cheating. Game theory is a study of mathematical models of strategic interaction and decision-making between rational decision-makers. 

While game theory can be both cooperative and non-cooperative, we will be looking exclusively into the latter since a decentralized, cryptoeconomic environment is, by design, a trustless and non-cooperative one.

Your typical game theory model has three components:

  • Players: The ones who make all the decisions. Eg. A company’s board of directors.
  • Strategies: The decisions that the company will make to further its agenda.
  • Payoff: Outcome of the strategies that have been made by the players.

First devised by John von Neumann and Osker Morgenstern in 1944, game theory was a significant breakthrough in the study of oligopoly markets. 

What is Oligopoly?

Market structure is the...

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Blockchain vs Tangle: Untangling The IOTA Tangle

Written By Ivan on Tech

May 13, 2020

 IOTA, which stands for Internet of Things Application, is a Distributed Ledger Technology (DLT) from the IOTA Foundation. Put exceedingly simply, IOTA is a cryptocurrency technology for facilitating transactions. As such, this is reminiscent of other cryptocurrencies, which have quickly made names for themselves over the past few years.

However, one of the main obstacles cryptocurrencies have to overcome is their scalability issue. As crypto becomes more popular, the networks that support them - basically the blockchains - need to become more resilient and support larger volumes. This is absolutely necessary in order to avoid rising fees and slowing transaction times.

There are already numerous solutions to boost the scalability of various blockchains. Some of the most well-known scalability solutions are technological solutions such as the Lightning Network or Sharding. IOTA is taking a different route to solve the scalability issue, however. 

Instead of relying on a...

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What Is The Average Blockchain Developer Salary in 2020?

Written By Ivan on Tech

May 11, 2020

A recent report from the San Francisco recruitment firm Hired suggests that the average blockchain developer salary is as high as between $150,000 and a whopping $175,000 a year. Moreover, the Californian recruitment firm notes this means blockchain developers get a substantial payday premium when comparing to software engineers.

In fact, reports find that blockchain developer salaries are more comparable to those specializing in artificial intelligence (AI). AI and blockchain are often put into the same category, seeing as they’re both relatively new technologies displaying massive potential.

Moreover, one reason for the recent blockchain developer salary rise is the exploding demand. Numerous high-profile companies are already looking into blockchain technology and are trying to attract blockchain developer talent. One way to stay competitive is by offering a high blockchain developer salary.

Blockchain developer salaries are surging

However, this surge in blockchain...

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Decentralized Finance: What Is DeFi and Why Do We Need It?

Written By Ivan on Tech

May 11, 2020

Over the last year, the term “DeFi” has caused quite a stir in the decentralized community. Many in the community believe that DeFi, or decentralized finance, can completely turn the global economy on its head by making the finance sector transparent and more easily accessible.  The DeFi movement leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries:

  • The pitfalls of traditional finance.
  • What is DeFi, and why do we need it?
  • DeFi use-cases and applications.

DeFi has a unique opportunity to craft a unique niche for itself in the space. There are currently 1.7 billion people around the world who don’t have access to essential financial services. However, with a simple internet connection, they will be able to access smart contracts and experience immense financial growth and security with DeFi. So before we look into the nitty-gritty of this revolutionary system, let’s...

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Breakdown: Blockchain Training Alliance vs. Blockchain Council Review

Written By Ivan on Tech

May 07, 2020

The past few years have seen a dramatic uptick in the number of online blockchain academies. As such, it is worth taking a look at the most popular ones. Ivan on Tech Academy is, as you may know, one of the largest and most successful online blockchain academies. However, some smaller actors are also making names for themselves, such as e.g., Blockchain Training Alliance and Blockchain Council.

Online Blockchain Academies

Anyone keeping an eye on the corporate sector will know that blockchain is exploding in popularity right now. Businesses across industries are looking to integrate blockchain into their existing business solutions and are looking for the right talent.

However, that is easier said than done. Blockchain is still a relatively green field, and the demand for blockchain engineers and developers far outpaces the supply. For example, data from Upwork reveals that the surge in demand for consultants with blockchain-related skills continues to rise. As such, the blockchain...

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Top 10 Privacy Coins Crypto Users Need To Know

Written By Ivan on Tech

May 07, 2020

Many have speculated that 2020 will be the year that Privacy Coins take the crypto markets by storm. Whether due to stricter KYC requirements, political censorship, or physical safety, the need for a blockchain privacy solution has never been more urgent.

There are now dozens of Privacy Coins worth millions in total market cap. What makes them unique? You could spend months studying the different governance structures, scalability features, development funding approaches - the list goes on. Luckily, there are only a handful of different technical approaches to mixing or hiding your data on a blockchain.

In this article, we’ll look at the ten most important privacy coins and protocols today. Moreover, we also dive into the various technologies that make them private.

Privacy Coins and Anonymity Set

This article is going to talk a lot about anonymity set. If Alice sends Bitcoin to Bob and uses a mixer, the anonymity set is the number of equally likely receivers of the...

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Byzantine Generals' Problem - An Introduction

Written By Ivan on Tech

May 06, 2020

The Byzantine Generals’ Problem is one of the most well-known and classic problems faced by decentralized networks. Solving this problem was one of the key developments in the creation of Bitcoin and, by extension, all other cryptocurrencies. In this article, we will see what the Byzantine Generals’ Problem is and how Bitcoin manages to solve this perplexing problem.

What is Byzantine Consensus?

The Byzantine generals’ problem was first theorized by the mathematicians Leslie Lamport, Marshall Pease, and Robert Shostak. The generals are a metaphor for nodes in a decentralized network. The core idea behind this thought experiment is this - How do you ensure that a peer-to-peer, distributed network with no central authority can make correct decisions, even if some of the nodes in it turn rogue? Can we make a distributed system that is “trustless” and doesn’t automatically assume that the participants are going to act ethically and work in the...

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Blockchain: The Complete Guide - What Is The Blockchain?

Written By Ivan on Tech

May 05, 2020

The blockchain was initially introduced by Satoshi Nakamoto, the inventor of Bitcoin, as a time-chain concept. Bitcoin transactions would be created and validated in a decentralized, peer-to-peer network and stored in a public ledger, which was later called “the blockchain”. 

This distributed database where transactions get stored is what Satoshi referred to as time-chain or a chain of time-stamped blocks of transactions.

The most interesting features of blockchain technology are security and decentralization. Simply put, a blockchain allows users to send, receive, and store transactions in a time-stamped, public, open, and permissionless distributed database. These transactions are grouped together in blocks. Since blocks are hashed and linked together in chronological order, to alter the transactions in one block, an attacker would have to alter all subsequent blocks.

Therefore, blockchain technology seems to be an amazing and useful upgrade to distributed ledger...

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When Is The 2020 Bitcoin Halving and What Is It?

Written By Ivan on Tech

May 05, 2020

Anyone keeping an eye on the cryptocurrency market will know that something big is about to happen. Specifically, Bitcoin is gearing up for its next Bitcoin halving event. This is something experts predict could set off a cryptocurrency rally - and will forever change the supply of Bitcoin.

What is the Bitcoin halving?

The Bitcoin halving, or more accurately the “Bitcoin block reward halving” cuts the mining reward for miners in half. As anyone familiar with Bitcoin and the blockchain will know, cryptocurrencies differ from fiat currencies. Particularly, there is no central authority that can “print” more Bitcoin.

Instead, miners “unlock” new Bitcoin through mining them, or by producing new blocks. There is a total Bitcoin supply of 21,000,000, which miners continually unlock. At the time of writing, a bit more than 18,360,000 Bitcoin are currently in circulation. However, Bitcoin halving events continually reduce the Bitcoin mining reward. ...

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DeFi Industry Heats Up as A16z Announces $515 Million DeFi Fund

Written By Ivan on Tech

May 03, 2020

The venture capital firm Andreessen Horowitz, commonly known as “A16z”, is now announcing a new crypto fund. This crypto fund will focus on investments relating to cryptocurrency and blockchain technology startups. 

DeFi is one of the hottest industries in crypto

Furthermore, this fund will also invest in crypto startups that explore payments applications, Web 3.0, and - perhaps most notably - decentralized finance (DeFi). Decentralized finance, or the DeFi field, is getting a lot of attention lately.  

Additionally, the two co-leaders of the A16z fund, Chris Dixon and Katie Haun, agree that the DeFi space is one of the most interesting developments in the blockchain industry lately. 

In fact, they believe that DeFi and practical blockchain applications could transform how everything from lending and insurance to derivatives and trading is done. “We think the next wave of internet business models will come from crypto,” Dixon and Haun...

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