Pitfalls of proof of stake consensus part 2

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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.

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How blockchain can help Africa reduce natural resource depletion

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So far, much has been written about blockchain use cases that were never thought about, but have become a reality. Can blockchain be used in Africa to reduce century-old challenges related to its abundant natural resources other than diamonds, emeralds, and other precious minerals?

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Are smart contracts in their current form the ultimate?

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The term “smart” in smart contracts may well excite many readers to think they are the ultimate solutions. Perhaps you may think of smartphones and what they are capable of doing. You use smartphones to surf the net, send emails, watch movies, conduct zoom meetings, transact, take pictures and videos, learn, teach, and many other everyday conveniences. While that is smart indeed, does the same apply to blockchain’s smart contracts in their current form?

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Types of Bitcoin users

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By Lumai Mubanga. [email protected] There are different conception regarding the use, mining and ownership of bitcoins just as there are different ideas of bitcoin users. This article will discuss the types of general bitcoin users be it millennials or old folks, and the type of services attached to each type. It is noteworthy to state […]

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How blockchain threatens traditional third parties (part 2)

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In addition to part 1, this article will focus on some other third party based payment systems and how their existence could be threatened because of the unrelenting conquest launched by block chain.

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Blockchain and the music industry

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The music industry is yet another sector that could benefit immensely from Blockchain technology once adopted and fully implemented. This is another sector poised to benefit more from the potential offered by smart contracts. It is one industry with so many intermediaries and the elimination of some of these could prove beneficial.

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Dash – an altcoin with a difference

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The crypto market is still growing with new crypto assets on a daily basis and catching up on this surge is a challenge. However, there are a good number of older crypto assets that may not be as popular to many as the new ones being offloaded into the market. One such an asset is the Dash.

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Bitcoin mining, what are the costs?

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By Lumai Mubanga. [email protected] Like any other business venture, bitcoin mining is an expensive enterprise. Unlike some exaggerate low cost projections some sections portray regarding this venture; you need to understand the operational costs of mining bitcoins. Whether you prefer to do it at home with an ASIC hardware or joining the mining pool, you […]

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Pitfalls of proof of stake consensus part 1

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Aside from addressing many bottlenecks associated with proof of work, proof of stake is not without its flaws. For instance, it seem to have introduced its own problems such as the “Rich getting richer”, liquidity issues and the possibility of one changing the history of the block chain.

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Proof of work, a “weak” but desired protocol

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The proof of work protocol has been in use for some time and notably for good reasons. Despite its deficiencies in terms of delayed transaction processing speeds, proof of work is considered a deliberate design meant to win the trust of network users. How so?

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