Terms associated with cryptocurrency

Double-Spending There can be a possibility that the holder of the digital token can copy it and send it to a merchant while keeping the original to himself. Double Spending is the risk that a digital currency can be spent twice. However, Bitcoin has a mechanism based on transaction logs to verify the authenticity of … Continue reading Terms associated with cryptocurrency

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The Hash

A Hash is a cryptographic function which converts an input stream of words and letters into an encrypted output of fixed length. Hashing involves processing the data from a block through a mathematical function, which results in an output (encrypted data) of a fixed length. Using a fixed length output increases security, since it wont … Continue reading The Hash

Bitcoin Mining and Blockchain – All you need to know

Introduction It indeed is always good to know the basics before learning the┬ábig lesson. It is highly advisable that you read about Hash and some terms associated with cryptocurrency before you dive into the ocean of Bitcoin Mining and Blockchain. What is a Block and Blockchain? The Bitcoin network witnesses a great deal of transaction … Continue reading Bitcoin Mining and Blockchain – All you need to know

Bitcoins – All you need to know

Introduction Bitcoins have been making news for quite some time now. But the exponential surge that it has seen along with other crypto currencies in a relatively short span of time has surely grabbed (or even popped) many eyeballs. Everyone has heard the word at least. If you have not, well, it's a little embarrassing, … Continue reading Bitcoins – All you need to know

Bitcoin News

Profits from Bitcoins to be taxed between 20% and 30% in India The windfalls that the Bitcoin investors have been making may soon be under the taxmen's radar as IT department is planning to tax it between 20% and 30% depending upon the holding period of such investments.   While this is being seen as … Continue reading Bitcoin News