blockchain technology Archives - Coinolly : Crypto News & Updation

Arbitrage Opportunities in Cryptocurrency Trading

9Jun

By Alonzo CollinsNo Comments

Cryptocurrency

Arbitrage Opportunities in Cryptocurrency Trading

Arbitrage, in the context of cryptocurrency trading, refers to the practice of buying a cryptocurrency on one exchange at a lower price and selling it on another exchange at a higher price, thereby profiting from the price difference. This strategy exploits temporary market inefficiencies and discrepancies in pricing, allowing traders to make a profit without taking on significant market risk. Arbitrage opportunities can arise due to variations in supply and demand, regional differences, trading volume, and exchange-specific factors. Types of Arbitrage in Cryptocurrency Trading Exchange Arbitrage Exchange arbitrage involves exploiting price differences between different cryptocurrency exchanges. Traders can take advantage of variations in buying and selling prices across exchanges, buyi...

Decentralized Governance: Empowering DeFi Potential

6Jun

By Alonzo CollinsNo Comments

DEFI

Decentralized Governance: Empowering DeFi Potential

In the rapidly evolving landscape of the financial world, decentralized finance (DeFi) has emerged as a revolutionary concept. DeFi refers to the use of blockchain technology and smart contracts to build financial applications that eliminate intermediaries and provide greater financial inclusivity. However, the true potential of DeFi can only be realized through effective decentralized governance. This article delves into the importance of decentralized governance in empowering the potential of DeFi. Decentralized Governance Principles of Decentralized Governance Decentralized governance revolves around the idea of community-driven decision-making. It enables participants within a network to have a say in the direction, development, and decision-making processes of a DeFi project. Some ...

Revamping Voting Systems with the Power of Blockchain

2Jun

By Alonzo CollinsNo Comments

Blockchain

Revamping Voting Systems with the Power of Blockchain

In recent years, the intersection of technology and democracy has gained significant attention, with blockchain emerging as a potential game-changer for the electoral process. Blockchain-based voting systems offer a secure, transparent, and decentralized approach to voting, revolutionizing the way elections are conducted. This article explores the concept of blockchain-based voting systems, their benefits, challenges, real-world examples, and the potential future impact on the democratic landscape. Introduction The integrity and transparency of electoral processes are crucial for maintaining trust and confidence in democratic systems. Traditional voting methods, such as paper ballots or electronic voting machines, have inherent vulnerabilities that can be exploited for fraudulent activit...

Bug Bounty Hunters vs. Traditional Penetration Testers: A Comparison

26May

By Alonzo CollinsNo Comments

Blockchain, Cryptocurrency

Bug Bounty Hunters vs. Traditional Penetration Testers: A Comparison

Introduction In today's increasingly interconnected world, organizations face constant threats from cybercriminals seeking to exploit vulnerabilities in their digital infrastructure. Businesses employ various security measures to combat these threats, including bug bounty hunters and traditional penetration testers. While both roles focus on identifying and addressing security flaws, there are distinct differences in their approaches and methodologies. In this article, we will delve into the world of bug bounty hunters and traditional penetration testers, compare their skills, benefits, and limitations, and explore how businesses can choose the right approach for their security needs. Understanding Bug Bounty Hunters Bug bounty hunters are independent security researchers who voluntaril...

Understanding the blockchain technology behind NFTs

11Mar

By Alphonso BernierNo Comments

Blockchain, NFT

Understanding the blockchain technology behind NFTs

Blockchain technology has gained widespread popularity in recent years due to its decentralized and transparent nature. One of the latest applications of blockchain technology is Non-Fungible Tokens (NFTs), which have revolutionized the way we think about digital ownership and provenance. In this article, we will explore the blockchain technology behind NFTs and how it enables the unique properties of these tokens. What is Blockchain Technology? At its core, blockchain technology is a decentralized, digital ledger that records transactions in a secure and transparent way. Each block in the blockchain contains a set of transactions that have been verified by a network of computers, known as nodes. Once a block is added to the blockchain, it cannot be altered or deleted, creating...

Identity-centric Platform Concordium Set for Mainnet and MVP Launch on June 9

9Jun

By Antoinette TurnerNo Comments

PR Wire

Identity-centric Platform Concordium Set for Mainnet and MVP Launch on June 9

Zug, Switzerland: Blockchain company Concordium will for the first time offer the world access to a safe, transparent, and regulatable blockchain and cryptocurrency, marking the end of an era of anonymity and distrust that has undermined the development of the industry. After three years of development, the Concordium Blockchain and its Cryptocurrency, the GTU, will make its mainnet debut on June 9, a move that for the first time clears the way for any developer or user to access the Concordium platform. The Concordium platform differs from other industry participants by offering previously unseen guarantees of governance and transparency, without compromising privacy. Users are identifiable and the provenance of every transaction is trackable, creating trust for the us...

Here’s Why Your Bitcoin Transaction is Stuck

8Jun

By Antoinette TurnerNo Comments

PR Wire

Here’s Why Your Bitcoin Transaction is Stuck

Bitcoin has transactional limits to what it can achieve, so when there is a high demand for the cryptocurrency, the network clogs up, causing mempool spikes. The mempool is where unconfirmed transactions await their inclusion in the blockchain. During normal operations, Bitcoin is capable of keeping up with the demands. Bitcoin transactions naturally gather in the mempool before miners record them on the blockchain. Two forces affect Bitcoin’s capabilities to avoid going into a mempool spike. Demand for Bitcoin transactions Changes in network mining power Demand for Bitcoin Transactions Bitcoin’s popularity is the most influential factor in the equation. When Bitcoin is not trending, the blockchain usually avoids overflowing the mempool and regularly zeroes out th...

Turkey to Pilot a Digital Currency in 2021

8Jun

By Antoinette TurnerNo Comments

PR Wire

Turkey to Pilot a Digital Currency in 2021

Turkey is set to pilot a digital currency in the second half of 2021. On Friday, central bank chief Naci Ağbal revealed the plans to Parliament. As reported in the Turkish media, Ağbal said, “There is an R&D project started on digital money. Currently, the conceptual phase of this project is completed. We aim to start pilot tests in the second half of 2021”. This move may not come as a surprise as the country has been hit with high inflation levels in recent years. Its chaotic past overshadows Turkey’s recent stable financial history. After stabilizing in 2001, the government held a tight grip over the Turkish Lira’s economy and value. However, following the 2016 failed coup, economic issues began to resurface, culminating in 2018 when Turkey’s inflation rate was 16...

Bitpanda Releases Debit Card for a Variey of Assets

8Jun

By Antoinette TurnerNo Comments

PR Wire

Bitpanda Releases Debit Card for a Variey of Assets

Austrian-based digital asset management company Bitpanda has released it’s very own debit card, allowing users to spend their fiat currency, cryptocurrency and precious metals. Once the funds are registered online, users can fund payments using any of the investments they have with Bitpanda with a real-life physical Visa card. A unique offering and something that has caught the eye of many traders, who look for ways to exchange cryptocurrency using debit cards on the various exchange platforms available to digital currency users. What makes the product stand out is the ease at which customers can switch between the various assets they hold in order to complete trades and transactions. What does the Bitpanda card offer customers? The digital asset company is now taking p...

Poolin Empowers Ethereum Miners With New Payout Scheme and International ETH Node

8Jun

By Antoinette TurnerNo Comments

PR Wire

Poolin Empowers Ethereum Miners With New Payout Scheme and International ETH Node

Poolin, one of the largest mining collectives just finalized an upgrade to their global Ethereum infrastructure by completing the installation of an international Etherum node in the United States. In addition to the node, Poolin switched its payment method from PPLNS to PPS+, which will enable Ethereum miners to begin earning Ethereum transaction fees in addition to the usual block rewards. This move will enable Ethereum Miners to exponentially increase their earnings when mining through the Poolin pools. According to Poolin, $830 million were spent on fees in January 2021 alone, showcasing the importance of this update for ETH miners on the network. We reached out to Poolin’s Vice President, Alejandro De La Torre f...