All types of computer systems are vulnerable in one way or another. For example, the proof of stake algorithm was introduced to solve a specific challenge in the proof of work algorithm. But there are specific attacks unique to PoS. These are long-range attack and stake grinding attack.
The whole point of developing cryptocurrencies has been taking control back to the people, the users. Bitcoin and indeed all cryptocurrencies have been developed to empower ordinary users with complete control and easy access to their assets, in this case, money. Thus, the central hold and control of huge financial firms on people’s money have been threatened.
In this article, we continue to look at that comparison by considering other features that make it unique and adaptable for worldwide use such as distributed, a chain of blocks and process integrity.
Unlike most advanced economies and systems, Africa lurks far behind in many areas. Few countries really appreciate and trust democratic systems in African countries. This article will discuss the unique challenges faced by many African states and how blockchain may finally overcome some of these challenges.
The well-known immediate effect of cryptocurrencies in our world today has been its decentralization of finances sector. However, could this successful decentralization of some financial transactions lead to more decentralization or democratization of other spheres of day-to-day life?
When the internet became widely adopted, it was clear that many companies were going to adopt it. Today, almost all companies, learning institutions and government agencies have adopted the internet and benefit from its services. Can the same be said of blockchain?
In most cases, an appointed road agency collects funds on behalf of the government. However, some government have been reported to use these funds for political campaigns, personal projects and in some cases, the cash disappears in thin air. How can blockchain decentralize and streamline the use of these funds in a transparent manner?
In parts one and two of “blockchain – what it is”, we discussed why the tech design of blockchain has enabled it to be adaptable for worldwide use and adoption. Unlike the internet, blockchain is all about resource and asset management as opposed to information sharing and determination. But is blockchain infallible? What is it not?
Every technological breakthrough certainly has its own drawbacks. This is the case with ICOs. How do ICOs compare with venture capital fundraising? This article will consider two possible ways.
In this article, we will consider another high profile Dapp known as Digix. Digix, unlike Augur, tokenizes Gold on the ethereum network. How did this initiative develop, and how may you get involved?
