Blockchain & ICO's

BlockChain & ICO's

Pratik Jain
By: Pratik Jain

What is nonce in Blockchain?

The "nonce" in a block of bitcoin made of a 32-bit (4-byte) field and its value is set in such a way that the hash of the block contains a run of preceding zeros. The remaining of the fields are left unchanged, as they have a defined meaning. A change into the data of block (such as the nonce) will make the hash of the block completely different. As it is considered to be infeasible to predict which combination of bits will result in the correct...
Pratik Jain
By: Pratik Jain

What is Bitshares?

BitShares also symbolised as BTS, was earlier known as ProtoShares symbolised as PTS, is an industry grade “crypto-based-equities”, P2P distributed ledger & network functional on a Delegated Proof of Stake (DPoS) algorithm. It was formed in 2014 by visionary Dan Larimer (“Bytemaster”), one of the founders of Steemit, EOS and Cryptonomex.BitShares is formed on Graphene, which is an open source C++ block-chain related implementation,...
Pratik Jain
By: Pratik Jain

What is consensus algorithm?

As we know, a blockchain is a decentralized P2P system without central authority figure. Every node in blockchain fetches, reads and stores data in a shared database or record system called as distributed ledgers. These distributed ledgers are shared data records and hence an inherent mechanism to monitor & maintain the data changes is required. Consequently, for any blockchain to consider decisions, it needs to come to a consensus utilising...
Pratik Jain
By: Pratik Jain

What is IPFS ?

IPFS is an effort to overcome inherent challenge posed by orthodox web language HTML. HTML has been found to be delayed, centralized & short term (content can be removed by host anytime). While IPFS is a P2P hypermedia technology to convert the web into speedier, safer, and more open. The InterPlanetary File System (IPFS) is a P2P distributed system which seeks to connect all computing devices with the same system of les. To explain how...
Pratik Jain
By: Pratik Jain

What is DApp?

There is increasing sense of need for decentralisation of web content these days due to over centralisation of the data. As we are aware, major centralisation nodes for data in todays world, as evolved over the years has been Facebook, Google, Amazon and few more. This has brought in a way a scenario where entire data on internet has become centralised. This centralised data can be now controlled, managed and monitored by these centralised...
Pratik Jain
By: Pratik Jain

What is Block time?

The term block time relates to an average time. It is a measure of for how long it takes the hashing power of the network to search a solution for block hash. The difficulty is calculated as proportional to the hashing power accordingly, on an average, the block time is 600 seconds for Bitcoin and 20 seconds for Ethereum. In reality, block time can vary from one to another. In layman terms, Block time is the duration which the networks take to...
Pratik Jain
By: Pratik Jain

What is difference between token and coin?

The terms Coin and Token are usually used in place of each other. But both have a different meaning and connotation. Coins have only one utility — to act as simple stores of value with limited-to-no other functionality. With “simple” value, it is implied that value not represented through a variety of dynamic functions. Tokens are a totally different type all together. They can store value of nature of compound, multi-faceted levels....
Pratik Jain
By: Pratik Jain

What is ERC20 as frameworks?

We are increasingly hearing about Ethereum these days. Ethereum is the popular cryptocurrency and blockchain system. It is based on the use of tokens which can be bought, sold, or traded. There are several other tokens which may be used in conjunction with Ethereum, and they differ from ether which is the currency native to the Ethereum blockchain. Tokens, in this case, represent digital assets that can have a variety of values attached. They can...
Pratik Jain
By: Pratik Jain

What is distributed ledger technology (DLT) ?

Ledger is a basic way for maintaining records of money in accounting. As time progressed, the way of maintaining ledger improved. With advent of technology, the ledgers were stored in single central server node. All client nodes created and stored their ledger copies in central server. Due to central server, came the issue of centralized data storage threat; single storage node runs a risk of single point of failure. Also, centralized ledger runs...
Pratik Jain
By: Pratik Jain

What is Graphene?

Graphene™ is a platform of software to deploy generation third in a cryptographical manner with secure decentralized ledgers which are known to be based of blockchains. One can consider Graphene as a toolkit for real-time blockchains. Systems based of Graphene have orders of magnitude with better performance than first-generation or even 2nd generation Bitcoin-derived systems, the one that constitute its current closest competitors. System...