Uncategorized

Crypto 101: What is a consensus mechanism?

A blockchain consensus mechanism is a type of automated system that aims to accomplish two objectives: Provide a distributed, leaderless way to unanimously agree on data stored on a blockchain ledger. Make sure all network validators follow the rules of the protocol and perform their roles honestly. While it may be tempting to trust a…

News

Crypto 101: What is the blockchain trilemma

Life is full of tradeoffs. Oftentimes, we can only maximize one outcome by sacrificing another. Sometimes these tradeoffs are not exactly 1:1 tradeoffs but are part of a more complex relationship. What are some examples of a trilemma? Realtors might say: a big house, great location, affordable price – pick two Chefs might say: big…

Uncategorized

Can bitcoin be used for cross-border payments?

In 2008, an anonymous researcher (or team of researchers) called Satoshi Nakamoto published a nine-page research paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System.” The document, known as the Bitcoin white paper, presented a new type of digital currency that users could use to transact without relying on financial intermediaries. Soon, people around the world discovered that blockchain…