BlockchainDevelopment Archive

Blockchain and Carbon Footprints

Apart from its most well-known application in cryptocurrencies, this ground-breaking technology is ushering in a new collaborative approach to processing transactions of all kinds in an increasingly connected world. Blockchain technology has the potential to reduce the number of elements involved in traditional systems, whether in banking, logistics, the Internet of Things (IoT), healthcare, or

What are Blockchain Forks? What are the types of forks?

Like all software and operating systems, blockchains require regular updates. The updates increase functionality, fix security concerns, and settle a dispute among the community about the future course of the coin. Read further to understand what a blockchain fork is in detail. Blockchain Forks A blockchain fork is a technical phenomenon that occurs when a

Objectives of Blockchain Consensus Mechanism

The blockchain consensus protocol in a blockchain platform has several objectives, including reaching an agreement, collaboration, cooperation, equal rights for all nodes, and mandatory participation of all nodes in the consensus process. As a result, a consensus algorithm seeks to find a common agreement that benefits the entire network. Now we’ll look at the objectives

What Are Smart Contracts on the Blockchain?

We have talked about digital cash in the early days and here we are slowly the digital assets like bitcoins, ether and other cryptocurrencies are slowly becoming mainstream digital cash! Similarly, smart contracts are the digital versions of traditional contracts! They are the backbone of Ethereum and other reputed blockchains. Origin of Smart Contracts The

What is Blockchain Consensus Algorithm?

The main benefit of blockchain technology, as we are all aware, is that it is decentralized. Usually, in a centralized space, authority is in charge of setting the regulations. But how do they come to a consensus in a decentralized setting? This is where the Blockchain consensus algorithm comes into play! What is Consensus Algorithm? A

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