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What is zk-SNARK? Zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) is a revolutionary proof system that enables one party to prove possession of specific information without revealing the data itself. First introduced in the late 1980s, this zero-knowledge proof concept was brought back to life by Zcash, a privacy-focused cryptocurrency
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Introduction to ZCash ZCash (ZEC) is a decentralized cryptocurrency that was developed in response to concerns regarding Bitcoin’s transparency. The need for enhanced security and anonymity led to the creation of the zk-SNARK protocol, allowing for encrypted transactions while maintaining the verification of ownership and prevention of double spending. ZCash,
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Introduction to Wei Wei, the smallest denomination within the Ethereum network’s ether cryptocurrency, holds significant importance and value within the blockchain ecosystem. This section aims to shed light on the concept and relevance of wei as well as its connection with the creator of b-money and Crypto++ library—Wei Dai. What
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Introduction to Virtual Currencies: Definitions and Classification Virtual currencies have gained significant attention since Bitcoin’s inception in 2009. These digital representations of value are used for transactions through secure, dedicated networks or the internet. Virtual currencies fall under the broader category of digital currencies, which includes cryptocurrencies and central bank
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Introduction to Verge (XVG) Verge (XVG), previously known as DogeCoinDark, is a decentralized cryptocurrency that focuses on delivering complete anonymity for its users through advanced techniques such as the use of The Onion Router (TOR) and Invisible Internet Project (I2P). Founded in 2014, Verge aims to overcome one of the
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Introduction to UTXOs Unspent transaction outputs (UTXOs) are a crucial aspect of the cryptocurrency ecosystem and represent the amount of digital currency that remains in a user’s wallet after completing a transaction. To understand UTXOs, it is essential to first grasp their significance within the network. UTXOs serve as accounting
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Introduction to Ommer Blocks in Ethereum Ommer blocks represent an intriguing aspect of the Ethereum blockchain. These blocks come into existence when two valid transactions are submitted almost simultaneously and compete for inclusion in the Ethereum network. The term “ommer” is derived from the concept of ‘aunt’ or ‘uncle,’ referring
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Introduction to Tezos and its Founders Tezos is an innovative blockchain network housing the native digital token Tez (XTZ), also known as tezzie, which empowers users in decentralized finance, decentralized applications, and non-fungible token projects. Unlike other cryptocurrencies, Tezos’ unique selling point is its on-chain governance mechanism that eliminates hard
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What is a Stablecoin? A stablecoin is a type of cryptocurrency that aims to maintain a steady value, typically by pegging it to a traditional currency like the U.S. dollar. This stable valuation makes stablecoins an attractive alternative for investors who want to participate in crypto markets without exposure to
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Introduction to Qtum: A Novel Cryptocurrency Qtum is an innovative cryptocurrency that marries the robust security offered by Bitcoin’s UTXO (Unspent Transaction Output) system with Ethereum’s flexibility in implementing smart contracts. Founded in 2016 by Patrick Dai, Jordan Earls, and Neil Mahl, this dynamic digital currency has become an intriguing
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Overview of Proof-of-Stake (PoS) Proof-of-stake (PoS), also known as staking or stake-based consensus mechanism, is an alternative method to proof-of-work (PoW) for validating transactions and adding new blocks in a blockchain. In essence, PoS allows cryptocurrency owners to validate block transactions based on the number of staked coins they hold.
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What Is an Orphan Block? Orphan blocks are data units that form part of the blockchain network but fail to be acknowledged as part of the longest chain. These blocks emerge when two miners solve a new block simultaneously, and the network subsequently accepts only one of these blocks due
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Introduction to Blockchain and Cryptocurrencies Blockchains and cryptocurrencies have revolutionized the financial world by offering decentralized digital ledger systems that enable secure, peer-to-peer transactions without intermediaries. These innovations’ impact extends beyond finance; they’ve introduced an entirely new concept called on-chain governance, a crucial aspect of blockchain networks’ growth and development.
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Understanding the Basics of On-Chain Transactions On-chain transactions are a fundamental aspect of blockchain technology as they represent the process of recording and validating transactions on a public ledger. When we engage in an on-chain transaction, we’re essentially making changes to the blockchain itself – adding new blocks, updating old
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Introduction to Obelisk Consensus Algorithm Obelisk is an innovative consensus algorithm utilized by Skycoin, a unique cryptocurrency project with the goal of decentralizing the internet through its Skywire network. Developed as a response to the limitations of existing consensus mechanisms, such as proof-of-work (PoW) and proof-of-stake (PoS), Obelisk offers advantages
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What Is a Nonce? A “nonce” refers to a specific value—a four-byte number—that plays a crucial role in cryptocurrency mining. A nonce is a term derived from the phrase “number used only once.” This value is vital for cryptocurrency miners as it aids them in generating a valid block on
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What is the Lightning Network? The Lightning Network is an innovative solution that aims to address the scalability issues of the primary Bitcoin blockchain by introducing off-chain transactions. Developed as a second layer on top of Bitcoin, it’s designed to enable faster, cheaper, and more efficient transactions. The network uses
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Background of FTX US Derivatives (Formerly LedgerX) FTX US Derivatives, formerly known as LedgerX, is an essential platform for institutional investors in the cryptocurrency markets. Established back in 2013, it was the first regulated exchange to offer digital currency contracts in the U.S. The Commodity Futures Trading Commission (CFTC) granted
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Introduction to the Kimchi Premium The kimchi premium is a captivating phenomenon in the cryptocurrency world that refers to the price gap between Bitcoin listings on South Korean exchanges and those on international markets. This section sheds light on this intriguing occurrence, its historical origins, and the factors contributing to
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Introduction to IOTA IOTA, represented by its native cryptocurrency MIOTA, is an innovative distributed ledger designed for the rapidly evolving Internet of Things (IoT) ecosystem. This groundbreaking technology is on a mission to enable seamless transactions and data exchange between interconnected devices while addressing key limitations faced by traditional blockchain-based
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Overview of ICON and ICX ICON is an innovative blockchain network designed to enable independent communities or entities to connect and interact with each other by facilitating secure, seamless transactions between them. This project was founded in 2017 with the intention of creating a digital nation, where different entities can
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