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Blockchain has been one of the hottest tech buzzwords of the last two years. Walmart, J.P. Morgan, Alibaba, and each of the Big Four audit firms have invested millions of dollars in building their own proprietary blockchain applications. But can blockchain walk the talk?

Blockchain flexed its incredible disruptive abilities in its initial use case with Bitcoin, but can blockchain extend into the corporate, centralized world that Bitcoin was designed to skirt? While some believe that blockchain is an overhyped technology with little or no true value, many others believe that blockchain can single-handedly make an honest industry out of…

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Think back to the last time you asked your friends, “Where should we eat lunch?” While simple, this question required a decision that affected everyone in the group. Perhaps each of you voted. Perhaps the group even reached a consensus.

Imagine the question that a blockchain must ask every time a new transaction is posted: Is this transaction valid, and, if so, should it be recorded on the distributed network? This question involves a number of complex and high-stakes variables: many users, tremendous sums of money, and clients with multiple accounts that threaten to render the one-user-one-vote scheme useless.

In…

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Bitcoin and Ethereum are often grouped into a similar classification due to their shared blockchain roots, yet they are very different, both in their purposes and technologies. It is important for anyone who wants to learn about blockchain technology beyond Bitcoin to understand how Ethereum works. This article will provide an understanding of Ethereum, then compare and contrast the purely currency-based world of Bitcoin to all of Ethereum’s potential uses in the greater blockchain universe.

How’d Ethereum Come About

Vitalik Buterin, a 19-year-old programmer and founder of Bitcoin Magazine, was dissatisfied with the difficulties he faced when trying to build applications on the Bitcoin…

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Most people watching “How Bitcoin Works” videos on YouTube can grasp at least a basic understanding of what’s happening…until the word “hashing” is mentioned, when there is often an abrupt end to all comprehension. This article is intended to bestow knowledge about the specifics of hashing and hashing’s role within the blockchain, so the next time you view that YouTube video you’ll make it over the enormous speed bump that is “hashing”.

What Is The Purpose of Hashing

Simplistically, the purpose of hashing is to render a special nickname to some amount of data. I like to think that a hash is to data what a…

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The story of bitcoin rivals Rocky and The Karate Kid as one of the most impressive underdog tales. From its beginnings with the Cypherpunks and the libertarian counter-culture to its adoption by JP Morgan, bitcoin has emerged victorious in its battle for disruption. This article will walk you step-by-step through bitcoin’s heroic journey.

Libertarian Dreams and The Cypherpunks (1970)

Libertarians, obsessed with trying to maximize freedom and autonomy, were unhappy with the increasing reliance on digital banking and resulting lack of privacy. They wanted something as fast as the internet, but as free as cash.

Along came the Cypherpunks, who decided that the answer to this…

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Cryptocurrencies and banks operate account transactions using the same four principles: (1) identity management, (2) service, (3) record management, and (4) trust.

Banks ensure identity management by requiring a customer to provide personal information that ties her bank account to her identity. Banks complete their services (or transactions) by transferring money from one account to another and manually verifying those transactions. Banks ensure record management by electronically or manually entering all validated transactions into a ledger. Finally, banks ensure trust by establishing standard employee operating procedures and complying with government regulations.

Cryptocurrencies satisfy these same principles but tackle them differently.

Identity Management

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Twenty years ago, if you had an entrepreneurial idea worth pursuing, you’d break out your typewriter, write a 50-page business plan, and within the first two weeks of starting your venture, realize that 70% of the assumptions you made in your business plan had changed and that your carefully crafted novel was now worthless. This process didn’t work. Entrepreneurs needed a leaner method of strategizing their business startup, something they could modify just as quickly as their startup changed. This entrepreneurial tool finally surfaced in 2008: the Business Model Canvas.

The Business Model Canvas (BMC) is nothing more than a…

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In early January 2017, I blindly invested $500 in whatever cryptocurrencies my friend’s hairstylist, Albie, touted as “hot”. For two days, I felt like the next Warren Buffet. For the two years following, my crypto value plummeted to $120 and I felt like a complete moron. As a current dual degree candidate in Accounting and Computer Science, I hope to regain some measure of self-respect by mastering blockchain technology beyond its obvious applications to cryptocurrency. Let’s start this journey by breaking down what the blockchain is.

A New Form of Record Keeping

A quick Google search explains: “A blockchain is an ongoing set of cryptographically linked…

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Unless you’re an accountant, financial analyst, or have an odd love affair with numbers, chances are the phrase “financial projection” gets tucked away into your brain’s pocket of boredom to be reevaluated only on a need-to-know basis. This sort of perception is dangerous. Despite the less-than-compelling first impression, understanding financial projections is imperative to the sound decision-making of any entrepreneur.

Deep down, you may already know that financial projections are important. But where do you start? This article will break down the importance of financial projecting and explain the process. …

Joaquin Monterrosa

Obsessive Entrepreneur

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