cryptocurrencies

4Apr

By THEIRL1ADMIN01No Comments

What Is Proof-Of-Stake? A Computer Scientist Explains A New Way To Make Cryptocurrencies, NFTs And Metaverse Transactions

Proof-of-stake is a mechanism for achieving consensus on a blockchain. Blockchain is a technology that records transactions that can’t be deleted or altered. It’s a decentralized database, or ledger, that is under no one person or organization’s control. Since no one controls the database, consensus mechanisms, such as proof-of-stake, are needed to coordinate the operation of blockchain-based systems. While Bitcoin popularized the technology, blockchain is now a part of many different systems, enabling interesting applications such as decentralized finance platforms and non-fungible tokens, or NFTs. The first widely commercialized blockchain consensus mechanism was proof-of-work, which enables users to reach consensus by solving complex mathematical problems. For solving these problems...

33 Cryptocurrencies Described In Four Words Or Less

Crytpocurrency also termed as Digital or Virtual currency is considered as a form of asset and the currency is designed to work as an exchange medium. Crytpocurrency uses strong cryptography to secure the financial transactions. All these cryptocurrencies work on the blockchain technology which is a decentralized system. The best feature of the cryptocurrency is its organic nature, where it is not issued by any central authority nor does have any government interference or manipulation with the currency. Bitcoin is the first blockchain based cryptocurrency and is the popular and most valuable one. The popularity of Bitcoin has given birth to hundreds of alternate cryptocurrenies designed with various specifications and functions. Some of these cryptocurrencies are clones of Bitcoi...

Three Latvian Men Arrested Over Drugs Procured on the Dark Web Using Cryptocurrencies

Customs police of the Latvia State Revenue Service (SRS) have arrested three men for procuring controlled substances on the dark web marketplaces using virtual currencies, and via postal services, Customs and Tax Police Department have reported. The three Latvia citizens, aged 30, 25 and 24, are facing several counts of charges for buying illegal drugs and psychotropic substances online from the so-called dark web, an encrypted section of the internet using cryptocurrencies that conceal the identities of buyers and their transactions avoiding law enforcement agencies from catching up on them. The investigations launched in April this year stated that the three men had been conducting the illegal business for quite a long time. According to the customs police, the drugs were p...