Blockchain (n.)

Accuracy in the digital world.

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Creating a unique identifier for a specific piece of data.


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The Token Lifecycle

1. Tokens are distributed as rewards when a new block is mined. 2. ...

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A popular collectible dApp released in 2017. Users could bid on digital cats in the form of ERC-721 tokens. This proved to be one of the first “viral” dApps which rapidly gained popularity. As a result, the Ethereum network quickly became overloaded, as it could not process the transactions that were being conducted, resulting in a backlog and very high fees. This incident displayed the limitations of the Ethereum blockchain and showed that the network would have to scale to meet real-world demand.

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Public-key cryptography, or asymmetric cryptography, is a cryptographic system that uses pairs of keys: public keys which may be disseminated widely, and private keys which are known only to the owner. The generation of such keys depends on cryptographic algorithms based on mathematical problems to produce one-way functions. Effective security only requires keeping the private key private; the public key can be openly distributed without compromising security. Wikipedia