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…Learn how it works and compares with Bitcoin, plus what the latest upgrades entail.Key Takeaways Built on blockchain technology, Ethereum provides a decentralised computing network for the creation of smart contracts and decentralised applications (dapps). It hosts thousands of dapps, tokens, exchanges, and tools, making it a household name in crypto communities. Bitcoin and Ethereum share some similarities, but differ in their purpose and functionality. Unlike in the Bitcoin network, smart con…
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…Ethereum (ETH) co-founder Vitalik Buterin, also a Dogecoin Foundation advisor, has publicly advocated for Dogecoin to migrate to PoS and offered Ethereum’s code as a framework for implementation. The idea is under discussion within Dogecoin’s community, though no formal transition has been confirmed. Bitcoin and Dogecoin’s Scalability Bitcoin’s scalability is one of its most significant obstacles as a payment processor. Its network processes an average of seven transactions per second (t…
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…Some notable altcoins include: Ethereum (ETH) A decentralised platform, Ethereum (ETH) was launched in 2015 by Vitalik Buterin and the Ethereum Foundation team. It introduced the concept of programmable blockchain, allowing for the execution of complex transactions and automation through smart contracts and enabling developers to build and deploy decentralised applications (dapps). Ethereum relies on a consensus mechanism called Proof of Stake (PoS), which uses validators that stake tokens on th…
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…In other words, a decentralised system is a subset of the distributed system. For a deeper dive, this article by Vitalik Buterin may help in understanding decentralisation. Blockchain Alternatives Since the invention of Bitcoin, many have generalised its technology and called it ‘blockchain’. However, the original Bitcoin design is not the only design that works. Distributed Ledger Technology ‘Distributed Ledger Technology’ (DLT), like Directed Acyclic Graphs (DAGs) or Block Lattice, is …
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…In other words, a decentralised system is a subset of the distributed system. For a deeper dive, this article by Vitalik Buterin may help in understanding decentralisation. Blockchain Alternatives Since the invention of Bitcoin, many have generalised its technology and called it ‘blockchain’. However, the original Bitcoin design is not the only design that works. Distributed Ledger Technology ‘Distributed Ledger Technology’ (DLT), like Directed Acyclic Graphs (DAGs) or Block Lattice, is …
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…On May 8, 2021, DOGE recorded an all-time-high market cap of nearly US$90 billion at a price of $0.70, rising nearly 141,000% since its inception in 2013 and briefly making it one of the world’s top 10 cryptocurrencies. In early 2022, Ethereum co-founder Vitalik Buterin confirmed that he was helping Dogecoin migrate from the current proof of work (PoW) to proof of stake (PoS) crypto consensus mechanism in a bid to lower its energy consumption and increase transaction speeds. How Dogecoin w…
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…In other words, a decentralised system is a subset of the distributed system. For a deeper dive, this article by Vitalik Buterin may help in understanding decentralisation. Blockchain Alternatives Since the invention of Bitcoin, many have generalised its technology and called it ‘blockchain’. However, the original Bitcoin design is not the only design that works. Distributed Ledger Technology ‘Distributed Ledger Technology’ (DLT), like Directed Acyclic Graphs (DAGs) or Block Lattice, is …
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…On May 8, 2021, DOGE recorded an all-time-high market cap of nearly US$90 billion at a price of $0.70, rising nearly 141,000% since its inception in 2013 and briefly making it one of the world’s top 10 cryptocurrencies. In early 2022, Ethereum co-founder Vitalik Buterin confirmed that he was helping Dogecoin migrate from the current proof of work (PoW) to proof of stake (PoS) crypto consensus mechanism in a bid to lower its energy consumption and increase transaction speeds. How Dogecoin w…
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…Blockchain Trilemma A succinct definition of Blockchain Trilemma Blockchain TrilemmaLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBLOCKCHAIN TRILEMMACopy linkShare on TwitterShare on FacebookShare on LinkedinBlockchain TrilemmaOriginally coined by Vitalik Buterin, the creator of Ethereum, the blockchain trilemma is an issue that currently plagues all blockchains. To be precise, it is commonly considered that most blockchains can only provide two out of three of the following b…
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…While programmers attempted to fix the bug in the smart contract, the wallet was eventually hacked, and funds were slowly siphoned out of it.After the hack, Vitalik Buterin, co-founder of Ethereum, initially suggested a soft fork of the network, which would refund those who lost their assets to the hack. He also suggested adding code that would blacklist the attacker and prevent them from moving any funds they had taken.Unfortunately, the hacker, or someone posing as the hacker, issued a public …
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