Tag bitcoin

An Overview of Bitcoin Lightning Network

Bitcoin Lightning Network
Joseph Poon and Thaddeus Dryja came up with an innovative idea in their whitepaper The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments. They proposed a way to make Bitcoin highly scalable from 8 transactions per second(TPS) to about million TPS. Since then, it has caught a lot of attention and development work in going to make lightning networks a reality. In this article, we will discover behind scenes of the lightning network.

How Bitcoin Mining Work? [Technical]

How Bitcoin Mining
In simple words, BFT lets a decentralized system function normally in an adverse situation when there is a malicious user in the system, or a fraction of the system fails. When the majority of users in a system are ethical personals (i.e., people who follow the rules), they can override the malicious work done by non-ethical individuals. So for a system to function normally, at least 51% of users should adhere to the rules set up in the system. This gives rise to consensus, which is the general acceptance of specific rules and regulations.

Common Crypto Questions [2020]

common cryptocurrency question
It's been 10 years since the inception of Bitcoin, the first cryptocurrency. But there are a lot of questions still answered. Today we will discuss some of the most common crypto questions.