As Bitcoin approaches mainstream adoption and recognition, its fundamental security model, characterized as mining, is being put under the spotlight and scrutinized more and more everyday.
People are increasingly concerned about and interested in the environmental impact of Bitcoin mining, the security and degree of decentralization of the underlying model, and even the potential impact of a quantum computing breakthrough on the future of Bitcoin and other cryptocurrencies.
Often times, proof-of-work is described as a “cryptographic puzzle,” but what is that puzzle, really?
In order to truly understand these questions (and any possible answers), you need to have a fundamental…
My colleagues and I wanted to create something that would make people go “wow” at our latest hackathon.
Because imitation is the sincerest form of flattery and IoT is incredibly fun to work with, we decided to create our own version of Amazon Go.
Before I explain what it took to make this, here’s the 3 minute demo of what we built!
There were four of us. Ruslan, a great full-stack developer who had experience working with Python. John, an amazing iOS developer. Soheil, another great full-stack developer who had experience with Raspberry Pi. …
The world has officially gone insane over Bitcoin and millions are rushing to buy it. There are a couple of things that need to be said, now more than ever. Let’s get straight to the point.
That is the name of the Bitcoin game. Bitcoin works because when it comes to keeping track of who has how many coins or who sent how many coins where, neither you or I have to trust each other, or trust a central entity.
It also works because we don’t have to trust a central entity, like a bank, to hold our…
Let’s imagine Bitcoin has accomplished the unthinkable — its become the one true currency used for peer-to-peer payments around the world.
In this Bitcoin Valhalla, let’s imagine that all non-cash payments are conducted with Bitcoin. Instead of credit cards, people whip out their favourite Bitcoin hardware or mobile wallets in coffee shops and hair salons across the world. Just how many of these non-cash payments would there be in this perfect world?
Today, non-cash payments account for approximately 522 billion transactions per year worldwide, and that number seems to be increasing in quadratic fashion, meaning it’ll be a lot bigger…
Bitcoin (BTC) recently smashed an all-time high of $11,400 USD and subsequently dropped to as low as $8,595 within a few hours. It’s incredibly important to not get lost in the pandemonium and to stay informed about how Bitcoin is progressing technologically.
Anybody considering buying Bitcoin should at the very least learn two things:
With Bitcoin and its underlying blockchain being such incredibly new technological concepts, it can seem daunting at…