Tag: Blockchaintechnology

a data structure for storing transactional records while maintaining security, transparency, and decentralization Alternatively, a chain of records maintained in the form of blocks that are not controlled by a single authority.

Application of Blockchain Technology to Finance | DeFi Planet

Application of Blockchain Technology to Finance

Blockchain is already a buzzword. Though the application of this technology to finance has not reached its full potential, adoption is impressive. A recent survey by IBM showed about 91% of banks currently invest in blockchain technology. From JP Morgan to MasterCard and Visa keeping an eye on the crypto ...

A Beginner's Guide To Vechain | DeFi Planet

A Beginner’s Guide To Vechain

The underlying concept of Vechain is to improve the supply chain of businesses by leveraging on the innovations that blockchain technology offers. Its purpose is quite different compared to other cryptos out there because it is meant to improve the business activities like supply chain processes of both online and ...

Types Of Blockchain Consensus Mechanisms | DeFi Planet

Types Of Blockchain Consensus Mechanisms

The increase in the value of Bitcoin and other cryptocurrencies has led to the rapid development of blockchain technology. The blockchain operates in a decentralized manner where pieces of information are distributed across all nodes connected to the network. The consensus mechanism is an important aspect of keeping records on ...

What Are Liquidity Pools And How Do They Work | DeFi Planet

What Are Liquidity Pools And How Do They Work?

DeFi has blown up in the past year, and the on-chain activity has been rapidly increasing. The volumes have been so high recently that popular decentralized exchanges like Uniswap can even compete with the volume on some of the centralized exchanges. As of August 2021, there is almost $69 Billion ...

An Introduction To Binance Smart Chain | DeFi Planet

An Introduction To Binance Smart Chain

Binance Chain and Binance Smart Chain are different blockchains belonging to the same ecosystem. Binance Coin (BNB) is the native token of the Binance ecosystem.  Binance Chain was an earlier version that was fraught with issues that undermined the growth of the ecosystem. It sacrificed some crucial elements to achieve ...

What To Expect In Ethereum 2.0

What To Expect In Ethereum 2.0

Ethereum pioneered the concept of smart contracts and it remains the most popular smart contract blockchain platform. However, Ethereum is plagued with issues that have continuously discouraged users and even developers from utilizing the functionalities that it offers. Issues like scalability and high transaction fees have made developers seek alternatives. ...

Scaling Ethereum: An Introduction to Polygon | DeFi Planet

Scaling Ethereum: An Introduction To Polygon

Polygon, a “Layer 2” solution for the Ethereum blockchain was recently rebranded from its original name, Matic Protocol. It is a protocol that can be used to build and link Ethereum-compatible blockchain networks. As an open-source platform, it offers developers the necessary tools to create a sidechain or a standalone ...

Polkadot: What You Need To Know | DeFi Planet

Polkadot: What You Need To Know

Polkadot was created by a co-founder of Ethereum, Dr. Gavin Wood, and it is designed to permit blockchains to easily transfer value in a trustless manner while sharing their peculiar functionalities with one another. A key aspect of Polkadot is its top-notch security. According to the founders of Polkadot, this ...

Introducing The Cardano Blockchain | DeFi Planet

Introducing The Cardano Blockchain

Introduction Cardano is a third-generation blockchain that promises a high level of scalability, making it fast and capable of offering high throughput compared to earlier blockchains. Its sustainability level is linked to the fact that it uses “staking” instead of “mining”. Cardano also has an interoperability feature, making it compatible ...

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