Category: Blog

PoW is a consensus algorithm that is used by cryptocurrencies. This consensus mechanism is used by cryptocurrencies to verify new transactions, add them to the blockchain, and create new tokens. Bitcoin was the first cryptocurrency to use this consensus mechanism.  PoW (Proof of Work) The main essence of the proof of work consensus mechanism is […]

Before talking about the application of Blockchain in cyber security and cryptocurrency, it is important to first understand blockchain in supply chain management. Blockchain technology in supply chain management allows complete traceability, meaning the condition of the product at each step in supply can be tracked. The transactions through blockchain technology can be tracked very […]

Bitcoin mining is a process that involves the generation of new Bitcoin by solving mathematical processes. Bitcoin was launched in 2009, by the alias ‘Satoshi Nakamoto’. Ever since its launch, there have been two developments to the Bitcoin mining process.  Bitcoin Mining History Till today, there have been two developments to the evolution and composition […]

Bitcoin wallets provide safe storage of digital assets to an investor. There are several options from which a Bitcoin wallet can be selected. But before selecting a wallet the first thing that one should be aware of is hot wallets (online wallets) and cold wallets (paper or hardware wallets).  Hot Wallets They are wallets that […]

In Bitcoin mining, complex math puzzles are solved by the miners to create new Bitcoins. To solve these complex math puzzles huge mining rigs and electricity is required. The miner who solves the puzzles first is awarded Bitcoin.  What are these Bitcoin mining puzzles? For the creation of Bitcoin and to earn rewards, miners are […]