How labor is used in the East African country of Kenya has not changed much in decades besides increased mechanization. For example, today, like in the British colonial days, large farm owners still use day laborers to clear the land, plant, weed, harvest the crop, and any other task requiring many pairs of hands. Usually, these day laborers come into the farm once or twice a month. On the other days, they go to other farms in their locality to do similar menial jobs. They, therefore, expect to be paid at the end of each day they work. …
You most likely have heard of wrapped Bitcoin. What exactly is wrapped Bitcoin?
The concept of wrapping cryptocurrencies is an important one to understand, especially with the rise of decentralized finance applications (popularly known as DeFi).
Just to remind you, a DeFi is an application built on a blockchain whose purpose is to provide a financial service that would otherwise only be available from a centralized financial entity like a bank, insurance, or a brokerage firm.
The initial application of blockchain was payment. But the financial institutions that the technology seeks to compete with do more than just payments. …
Image courtesy of Pixabay
Decentralized Finance (DeFi) is on fire right now. It seems like everyone is talking about it and every blockchain developer seems to be working on a DeFi project. Meanwhile, investors are looking for every opportunity to make money on the DeFi platforms coming online.
Indeed, we may be on the verge of experiencing an investment craze similar to the ICO one. This is despite the current short term instability of the market. Nevertheless, nobody knows how exactly DeFi will turn out in the long term. …
The concept of Decentralized finance (DeFi) is the most interesting in the blockchain space right now.
Let me explain to you what this is, in case you have no idea. A DeFi is a decentralized platform built on the blockchain that offers financial services that you would otherwise access only from a centralized financial institution like a commercial bank.
The concept seemingly forms the next step in the dismantling of the legacy financial system, which benefits only a few.
The most developed product of the DeFi is its credit offering. You can borrow money from a DeFi platform at lower…
The concept of mining is at the center of the existence of cryptocurrencies. In other words, without mining, cryptocurrencies cannot exist. To understand what mining is and the critical role it plays, one needs first to understand how a cryptocurrency functions.
We need to pick one to use for the illustration. None is better for this purpose than Bitcoin. It is the first-ever cryptocurrency, it has the most significant market capitalization, and it is the most used around the globe.
Bitcoin is a digital currency. Meaning, it only exists in computers and other electronic devices. …
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The way people, devices, applications, websites, and even email addresses are identified on the Internet is on the verge of being disrupted in a significant way.
You could say the biggest ever change to the architecture of the World Wide Web is about to happen, and it is all thanks to blockchain.
In May 2017, Decentralized Identity Foundation (DIF), a consortium to explore ways of using blockchain for identity management…
Bitcoin hash rate (also hashrate) is the computer power of the Bitcoin network. It is the measurable and quantifiable speed at which the Bitcoin network processes data when adding new transactions to the shared ledger.
Each mining node on the Bitcoin network has its hash rate, and it uses it in competition with others in the mining process.
The only context in which mining nodes combine their hash rates to mine is when they form a mining pool. …
The word enterprise describes a technology customized to meet business needs. In the case of enterprise blockchain, it could be misleading. And that is especially the case when we focus on small businesses.
Recently there has been a concerted effort to label or brand private blockchains as enterprise blockchains.
Even Blockgeeks, the respected online source of blockchain training material, has written a long guide where they refer to private blockchains as enterprise blockchain.
The online technology magazine Hackernoon too has a similar content that uses enterprise in place of private, permissioned, or decentralized/distributed ledger technologies (DLT).
This is a detailed step-by-step guide on writing a white paper for an initial coin offering (ICO), Initial Exchange Offering (IEO), a blockchain project, or, in fact, any other reasons. Included is an analysis of some of the successful white papers with particular attention paid to their styles, structures, and outlines.
I also provide and explain a few white paper templates.
I write this guide as someone who has worked on several white papers and also as a blockchain niche writer who has had to read at least several white papers every month.
So, I know something about writing a…
The US dollar vs. Crypto (Bitcoin) as Global Reserve Currency
It is almost a foregone conclusion that the era of the US dollar serving as a global reserve currency is coming to an end.
And it is not the Rouble, the Yuan nor the Euro that will replace it. Technology is giving us more viable options, of which Bitcoin stands out the most.
The transition is not going to be easy, though. Far-reaching adverse effects are going to be felt.
That could be the case, especially in the US, where things have worked so well, economically speaking, since 1945.
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