The drawbacks of proof-of-work or PoW algorithm have prompted the introduction of new consensus mechanisms aimed at promoting energy efficiency and lessening the environmental impact […]
Category Archives: Science and Technology
PoW: Advantages and Disadvantages of Proof-of-Work
The proof-of-work or PoW system is a cryptographic zero-knowledge proof and consensus mechanism. The concept was first introduced by computer scientists Cynthia Dwork and Moni […]
Cryptocurrency Coins vs Tokens: What is the Difference?
There are two types of cryptocurrencies developed, introduced, and used in the digital world: coins and tokens. Some individuals would not mind interchanging these two […]
What is Ethereum: Applications, Pros, and Cons
Vitalik Buterin, a programmer and one of the founders of Bitcoin Magazine, first described Ethereum in a 2013 white paper as a technology for introducing […]
Environmental Impacts of Blockchain Technology
Several experts and industry observers have expressed concerns over the negative environmental impacts of blockchain technology, including the expanding popularity of cryptocurrencies and emerging applications […]
Axie Infinity Review: Pros and Cons
Vietnam-based Sky Mavis developed the NFT-based online trading and battling video game Axie Infinity. It uses Ethereum-based crypto tokens Axie Infinity Shards or AXS and […]
NFT Games Explained: What Are They? How Do They Work?
NFT-based video games or NFT games represent a genre of video games built on the concept of tokenization and digital asset creation, and powered using […]
Advantages and Disadvantages of Blockchain
The applications of blockchain technology have expanded beyond cryptocurrencies. Because it is a solution for creating and maintaining a centralized digital ledger, it is at […]
Blockchain Technology Explained
An article that appeared in the 1991 issue of the “Journal of Cryptology” by researchers S. Haber and W. S. Stornetta described a technique for […]
NFT Advantages and Disadvantages
There is an explosion of interest toward non-fungible tokens or NFTs beginning in 2021 when several digital artworks and memes were auctioned and sold for […]