Into a cashless world

Cryptocurrency is poised to bring a cashless world into reality. The industry, worth $500 billion is becoming mainstream and offers an alternative to traditional banking. This new technology allows users to send money almost instantly from any mobile device. It works by having a large number of network computers verifying transactions and recording them on … Continue reading Into a cashless world

Why can’t someone re-write a blockchain and steal your money?

Blockchains are being used to secure digital money. It would be pretty shady if someone just came along and edited the blockchain to show they owned all the coins. So, how are blockchains un-editable? #1 Hashes Hashes are often used to verify that information hasn't changed. Imagine you have a number of dice of different … Continue reading Why can’t someone re-write a blockchain and steal your money?

The BitGrail 17m NANO ‘hack’ – what really happened?

BitGrail, a cryptocurrency exchange, announced insolvency on February 9 after reporting a 17m NANO 'hack' worth $200m at the time. The NANO team have since separated themselves from 'The Bomber' Firano, the owner of BitGrail, issuing a separate statement blaming BitGrail for the loss of funds. Firano has responded tweeting that the claim is libellous … Continue reading The BitGrail 17m NANO ‘hack’ – what really happened?

Bitcoin miners to be hit with huge fines?

  Blockchains record pseudonymous transactions that cannot be altered. This sounds like it complies with data protection and the GDPR soon to be enforced but it's not that simple. 1) Transactions can be linked to real world people. There are several ways in which transactions can be connected to a person. For a start, many … Continue reading Bitcoin miners to be hit with huge fines?