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The blockchain is a relatively complex entity of information that exists on the internet and is continuously evolving.  Meaning there is an ever-expanding empire of information that we can collect from something as complicated as this virtual framework.  If this framework is to be understood, we have to explain its essential core functions. First and foremost, the blockchain acts as a verification and creation system.  To expand the blockchain means that there are people that...Continue Reading
Bitcoin transactions are one of the most secure transfers of money that can happen today.  There are a few things that every bitcoin transaction consists of.  This would be the header and the input and the output. The input of a bitcoin transaction is showing that the prior balance of the wallet contains a certain number of bitcoins available to use.  These bitcoins are then transferred forward to the current transaction that is about to...Continue Reading
A smart contract is a set of rules that is on the part of a blockchain that will only allow the blockchain to continue when the smart contract is met.  This is almost like an agreement between two parties on what is going to happen in order to make the payment.  Parts of the contract can contain assets that the parties will then distribute among all parties of the agreement.  Think of this smart contract...Continue Reading
Encrypting passwords or text is a very complicated and confusing process to understand.  There are many steps and technical terms that it goes through to reach one of the three encryption standards.  Whether it is SHA-1, SHA-256, MD-5; they can all protect the privacy of the text that you are trying to keep from the public view. Encryption depending on the level can be complicated to decrypt and is what makes it such an effective...Continue Reading
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