BLOCKCHAIN FOR NEWBIES
Interledger was born out of a project to build a blockchain-agnostic smart contracts platform. A key challenge was neutrality: how could a decentralized app buy resources like storage and computing, without being tied to a specific blockchain? Across the internet, apps and services face a similar issue of how to directly monetize without relying on a single cryptocurrency, a proprietary network like Visa or PayPal, or a monolithic platform like Apple.
If you’re going to invest — your time and/or money — in blockchain because it’s “decentralized” then you should probably have some working criteria for qualifying projects that are “really decentralized” vs. “sorta decentralized.” Let’s explore “decentralization” and see if there are any useful frameworks for understanding the concept.
Cyber security is hardly a sexy topic, and is easy to overlook, but the last thing you want to do as a crypto investor is watch all your money disappear because you were careless about keeping it safe.
Even in 2017 blockchain technology was considered overhyped. Everybody and their cousin began to believe that blockchain was going to disrupt every industry, change the face of the earth, and make obscure ICO investors millions in the process.
This hype and excitement around cryptocurrencies led people to believe some crazy things about blockchain technology and what it can actually do.
Today we’re gonna talk about Ethereum. Lately, there was many news reports about its planned updates. We have to remember that it’s a long-term plan, and we have to wait 3–4 years to see all these updates deployed on the mainnet, so now we have time to quietly analyze, what features will it have, how will it work.
This is a short and no way comprehensive analysis on the pros and cons of centralized versus decentralized cryptocurrency exchanges. By the end you should have enough information to figure out which is for you — or at least be the new “expert” on centralized exchanges around the water cooler.
The Ethereum blockchain, launched in 2014, is widely known for its smart contracts, contracts that are self-executing according to defined parameters. In order to make these smart contracts work as well as possible and to allow them to communicate with each other, the developers have decided to set up standards, the latter are called ERC – Ethereum Request for Comment.