Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Most people in today's society have heard of either cryptocurrencies in general, or at least Bitcoin specifically. The crypto market keeps growing, and as of 2020, crypto awareness is arguably bigger than ever before. Along with this surge in public interest, people are also starting to open their eyes to the technology behind cryptocurrencies such as Bitcoin. The fundamental technology for cryptocurrencies is blockchain, and this is an essential cog in the crypto machine.
However, even though there’s a large number of people aware of what Bitcoin is, there are still many people who do not know how Bitcoin works or where Bitcoin comes from. Put simply, the process of creating Bitcoin relies on something known as crypto mining, and in this article, we are taking a look at what Bitcoin mining is.
If you feel that you want to learn more about the crypto fundamentals, such as crypto mining, we highly encourage you to enroll in some of the courses available on Ivan on Tech...
The “proof of work vs proof of stake” debate has been raging for a long time. Many modern projects have opted from proof of stake (POS) over the more traditional proof of work (POW). Your old school currencies like Bitcoin, Zcash, and Ethereum (pre 2.0) were all based on POW. So, in this article, let’s learn more about POW and POS. But first, let’s look into what we mean by consensus algorithms.
Consensus is a method with which a group can reach an agreement dynamically without causing any discord in the group. As such, it's a lot more positive than simple voting, which doesn’t care about the minority's feelings. A mechanism that allows you to reach consensus is known as a “consensus algorithm.” There six rules that consensus algorithms must follow: