Basics of Crytocurrency

Basics of Crytocurrency

What is Cryptocurrency? Cryptocurrency is a digital currency that uses encryption (cryptography) to generate money and to verify transactions. Transactions are added to a public ledger – also called a Transaction Block Chain – and new coins are created through a process known as mining. A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and…

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How you can earn passive income with Bitcoin and other Cryptocurrency in Nigeria

How you can earn passive income with Bitcoin and other Cryptocurrency in Nigeria

Any form of passive income is amazing. Blockchain Technology has ushered in a number of ways for you to earn passive income with bitcoin and other crytocurrency in Nigeria. This Technology has nice streams of passive income, and cryptocurrency should be on your radar. Earning online passive income was never easy, but with the advent of Blockchain, Bitcoin, and other cryptocurrencies, things have clearly changed. However, the ‘easy’ income opportunity has also led many to fall for scams. In 2017, there existed so many scams like Bitconnect scam, Tezos scam…

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Blockchain and Bitcoin

Blockchain and Bitcoin

First, it is important to note that blockchain and Bitcoin are not the same thing. Bitcoin was conceptualized by Satoshi Nakamoto in 2008 as an unregulated cryptocurrency. He devised blockchain as the mechanism through which bitcoin transactions would be executed. For our discussion of automotive applications for blockchain, you can forget about Bitcoin — that is, unless you plan on using the cryptocurrency to pay for your next car. Although blockchain is still the backbone of the Bitcoin economy, distributed ledger technology has evolved to be useful as a stand-alone…

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Microsoft to build decentralized identity network on top of the bitcoin blockchain

Microsoft to build decentralized identity network on top of the bitcoin blockchain

Microsoft is building a decentralized identity (DID) network on top of the bitcoin blockchain, the tech giant announced on May 13. In a blog post, the company said the infrastructure, known as the Identity Overlay Network (ION,) is based on an evolving set of open standards developed in conjunction with the Decentralized Identity Foundation. Microsoft claims its approach addresses throughput issues that mean “the most robust, decentralized, public blockchains operate at just tens of transactions per second, nowhere near the volume a world full of DIDs would demand.” By contrast, the company…

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