What are ERC-20 tokens? ERC-20 tokens are tokens designed and used solely on the Ethereum platform and follow the ERC-20 token standard. Smart contracts are responsible for creating the tokens, handling transactions, and keeping track of the balances. There are…
How is ether (ETH) different from bitcoin (BTC)? When launching the sale of Ethereum’s native cryptocurrency, ether (ETH), co-founder Vitalik Buterin stated, “Ether is a product, NOT a security or investment offering. Ether is simply a token useful for paying…
What is Ethereum? Launched in July of 2015, Ethereum is one of the world’s leading programmable blockchains with two basic functions: a blockchain that can record transactions, and a virtual machine that can produce smart contracts. This programmability allows developers…
What is Ethereum 2.0? When asked about the future of Ethereum, co-founder Vitalik Buterin stated, “scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it…
What’s the difference between Ethereum (ETH) and Ethereum Classic (ETC)? In 2016, hackers exploited a flaw in the smart contract code of the DAO—a decentralized autonomous organization built on the Ethereum blockchain, resulting in the theft valued at the time…
Mixing Service: Mixer, Tumbler, Fogger: A cryptocurrency tumbler or cryptocurrency mixing service is a service offered to mix potentially identifiable or ‘tainted’ cryptocurrency funds with others, with the intention of confusing the trail back to the fund’s original source. Tumblers…
Multi-input is a way of associating multiple addresses with a single individual or entity. This can help to group addresses into what is often called a “wallet address”. The way this works is that if many bitcoin addresses are used…
What is proof of stake in blockchain technology? The proof of stake consensus model was proposed in 2012 in response to the substantial amount of electricity and energy required to mine a single block under the proof of work model.…
What is proof of work in blockchain technology? Proof of work is a consensus model in blockchain technology that requires miners to solve computationally difficult math problems in order to add new blocks onto the blockchain. These functions produce data…
What are smart contracts? A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties…