What is blockchain?

Chances are high you have heard about blockchain technology and how it is going to change the world. You have probably also heard about cryptocurrencies and how they are going to revolutionize the ways we transact in ways never seen before. But what exactly is blockchain technology? Are there any benefits of using blockchain at all? Where and how can this technology even be applied? And how can you even get started using it?

Blockchain can seem complicated, and while it is, it has a very simple concept at its core. Think about an account you have…

Africa is the world’s richest continent, boosting about 30% of the world’s mineral reserves such as uranium, gold, oil and diamonds. Africa is also the world’s second largest and second most populous continent in the world, accounting for about 16% of the total population on the globe. Africa is also the world’s poorest inhabited continent, according to the World Bank, with her total GDP barely a third of the United States’ GDP. What is wrong with Africa?

Despite having the perfect ingredients for economic growth, including a booming young population to provide readily needed labor, fertile land for agriculture, very…

By Collins Munyendo on ALTCOIN MAGAZINE

Libra, Facebook’s project for a simple and global currency and infrastructure to empower billions of people, is set to be launched in mid-2020. Despite the fact that lots of people in the world today have access to the internet as well as mobile broadband that enables them cheaply and conveniently communicate, a huge chunk of them remain unbanked. Those who have access to financial services incur a lot of costs via the wire costs, ATM charges among others involved when transacting. While cryptocurrencies, most notably Bitcoin, have been established, they have not been massively adopted due to challenges in volatility…

Getting started in the Ethereum ecosystem

With the advent of good internet connectivity across many places in the world today, it’s become relatively cheap for parties to communicate. Technologies such as Bitcoin have enabled secure peer-to-peer transfer of value between parties by leveraging a public distributed ledger known as blockchain. With Bitcoin limited to financial transactions, however, there is need to create other trust-based systems including smart contracts that can take advantage of blockchain’s distributed and immutable nature. This is how Ethereum was born.

Ethereum attempts to create a generalized technology that goes beyond Bitcoin’s decentralized value transfer system to provide trust between transacting parties. It…

A brief summary of Bitcoin to get you up to speed!

Reliance on financial institutions by online stores for transactions faces a number of challenges; it’s not only impossible to have absolutely non-reversible transactions but also expensive and therefore impractical to make small transactions. To tackle these challenges, Satoshi Nakamoto proposed an electronic payment system known as Bitcoin that leverages cryptographic proof, as opposed to trust, to allow parties transact without third parties.

Bitcoin comprises of a decentralized peer-to-peer system that makes transactions computationally impractical to reverse to ensure sellers are not defrauded. New transactions are broadcast to all nodes with each node using the new transactions to create a block…

Collins Munyendo

Security Consultant at Silensec and Doctoral Student at the George Washington University. Focus: Usable Security and Privacy.

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