notjustcryptos-blog

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The Pillars of Blockchain #3 – Immutability

The Pillars of Blockchain #3 – Immutability

Immutable :: (Dictionary definition) :: unchanging through time; unalterable; ageless

While the dictionary definition is stated as such, Immutability, in the context of the Blockchain technology means something that cannot be tampered with. Data once recorded in the blockchain, cannot be modified in any format.

Immutable :: (Blockchain):: The inability of a block to be deleted or modified once it…

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The Pillars of Blockchain #2 - Transparency

The Pillars of Blockchain #2 – Transparency

Moving on from our previous article in this series on pillars of this technology, we will now talk about the 2nd Pillar which is – Transparency. 

Related Reading: The Pillars of Blockchain #1- Decentralization

Blockchain offers some remarkable features such as:

A Distributed Ledger Technology

Use of cryptography to secure transactions

The ability to build logic and execute smart contracts (More on…

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The Pillars of Blockchain #1- Decentralization

Decentralization in simple terms is the delegation of a position of authority and decision making from a central authority, group or location.

Most of the systems and processes running globally are centralized or rather were centralized before things like Bitcoin and BitTorrent showed up. It is a very simple idea – a centralized entity e.g. a bank or a hypermarket stores all its client data in…

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Understanding "Blockchain" - The Technology

Understanding “Blockchain” – The Technology

October  2008 marked the introduction of an unknown developer – Satoshi Nakamoto – who ended up, much to the chagrin of the world, creating Bitcoin. Even more fascinating for the world was the underlying technology which is now getting to be known as the Blockchain technology. The industries around the world have been trying to uncover this technology that powers Bitcoin and are trying to…

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The Cons of Cryptocurrencies

Cryptocurrencies are said to be one of the most groundbreaking innovations since the invention of the internet. That many agree on, though there have been substantial other inventions which have not taken center stage yet. While cryptos offer a huge advantage, and many have been demonstrated in the past, we have also seen some disadvantages that this type of digital money brings along.

Let’s…

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Bitcoin at 10 | #6: Breaking down Satoshi’s whitepaper – Part 4

Bitcoin at 10 | #6: Breaking down Satoshi’s whitepaper – Part 4

We have arrived at our final part of breaking down Satoshi Nakamoto’s whitepaper on Bitcoin. In this part, we cover the following issues addressed by Satoshi:

How does a node verify a payment it is not running or does not hold the entire blockchain i.e. it is not a “full node“?.

How will multiple transactions to the same bitcoin address be combined and split?

How would privacy be achieved?

What…

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Bitcoin at 10 | #5: Breaking down Satoshi’s whitepaper – Part 3

Bitcoin at 10 | #5: Breaking down Satoshi’s whitepaper – Part 3

Further, into the whitepaper, Satoshi discusses how the network will operate, how the miners or nodes will be incentivized to participate in the network; and when the network keeps adding transactions, how the data size will be maintained, with increasing data storage requirements.

Section 6 – Network

The Bitcoin network has a simple step-by-step task laid out in its algorithms. The exact flow of…

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Bitcoin at 10 | #4: Breaking down Satoshi’s whitepaper - Part 2

Bitcoin at 10 | #4: Breaking down Satoshi’s whitepaper – Part 2

Continuing our discussion on the whitepaper from our previous article Bitcoin at 10 | #3: Breaking down Satoshi’s whitepaper – Part 1, we arrive at how Satoshi envisioned the how the bitcoin transactions would work.

Whitepaper link: Bitcoin – A Peer-to-Peer Electronic Cash System -Satoshi Nakamoto’s original paper

Section 3 – Transactions

The focus in this section is on the solution to the double…

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Bitcoin at 10 | #3: Breaking down Satoshi's whitepaper - Part 1

Bitcoin at 10 | #3: Breaking down Satoshi’s whitepaper – Part 1

The digital currency boom ushered in by Bitcoin has led to the transformation of the traditional financial systems. What started off as an email on a nondescript system, has now become the go-to document to understand how money can be decentralized and democratized.

This historical document lays down the protocols which are not understood by many and hence we are trying to break it down…

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Bitcoin at 10 | #2: A Democratic Financial World Order

Bitcoin at 10 | #2: A Democratic Financial World Order

“With programmable money, we decouple the need for large, trusted institutions from the architecture of the network, and this pushes innovation in money out to the edges.”

– Neha Narula | Research Director | Digital Currency Initiative, MIT,

In her TED talk, Neha Narula had effectively concluded that programmable money democratizes money.

This was probably the thought in Satoshi Nakamoto’s mind…

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Bitcoin at 10 | #1: That day in 2008

Bitcoin at 10 | #1: That day in 2008

On 31st October 2008, an unknown person sent an email out to a relatively unknown group of cryptographers on a mailing list called the “Cypherpunks Mailing List“! On this email, this pseudonymous person called Satoshi Nakamoto introduced a small group of people to a world-changing model which would eventually disrupt the way we all look at money!

Today marks the 10th anniversary of the…

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Lack of Knowledge and clarity leads to ATM seizure and arrest of Co-Founder

Lack of Knowledge and clarity leads to ATM seizure and arrest of Co-Founder

The Crypto ATM which was installed in Bengaluru has been seized by the police, who have also made an arrest. The Co-Founder of Unocoin has been arrested and sent to 7 days of judicial custody. The CoFounder, Harish BV has been sent to judicial custody. The police have also said that more arrests will be made soon.

Read: Crypto India builds on by adding an ATM to the Global Crypto Map

Lack of…

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Using the Crypto ATM in India Vs around the Globe.

Using the Crypto ATM in India Vs around the Globe.

Unocoin, India’s leading Blockchain asset management company, has installed the first Crypto ATM in India. We are going to discuss how this ATM will be used and how does this mode of operations compare to those around the world.

Current Indian ATM Requirements

Create an account on Unocoin. You can follow this link: https://www.unocoin.com/

It needs to be KYC compliant; which means that the user…

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Crypto India builds on by adding an ATM to the Global Crypto Map

Crypto India builds on by adding an ATM to the Global Crypto Map

Crypto India has started an uphill task in creating greater acceptance in the country by bringing Cryptos a step closer to the common people. In a report published this week, the Cryptocurrency exchange and one of the major player and leaders, Unocoin launched its first Cryptocurrency ATM in Bengaluru.

Unocoin ATM in Bengaluru | Image Source: CoinDesk

This comes despite the RBI moratorium on…

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CryptoIndia News - RBI Casualty - Zebpay Shuts Exchange

CryptoIndia News – RBI Casualty – Zebpay Shuts Exchange

The ongoing tussle between RBI and CryptoIndia has registered yet another casualty but this time a major one. Zebpay, probably one of the leading exchanges in India, has declared that it is stopping its exchange operations.

As of 28th Sept, 4pm onwards, the Zebpay exchange has stopped its operations and will not allow any transactions. Any pending transactions will be refunded and restored in…

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Cryptocurrency Exchanges in India

Cryptocurrency Exchanges in India

India has seen a surge in cryptocurrency trading in 2017 with an estimated daily volume topping $50 Million; with some days seeing almost $200 million in trades.  With growing awareness and multitudes of tokens born every day (at last count 1980+ tokens and coins listed on Coinmarketcap), India has also seen a growth in the number of cryptocurrency exchanges in India.

The following are the…

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Cryptocurrency Education - The Missing Link for its progress

Cryptocurrency Education – The Missing Link for its progress

3rd January 2019 will mark the 10th birthday for Bitcoin. That is just a few months away. Despite the buzz about Bitcoin, cryptocurrency, and blockchain all around the world, there is very little understanding about these terms. For many, Bitcoin is still a haven for drug-peddlers, pedophiles, and terrorists.

Some weeks back we published an article which highlighted the growth of the…