Bitcoin mining is nothing else than solving an equation. The solution to the equation LOCKS the inputs in the equation which is the numerical representation of the content of the Blockchain database.
About The Blockchain Academy®, Wim Stalmans
Posts by Wim Stalmans:
It can be challenging to understand how applications arise from “that thing called Blockchain, that thing that is nothing more than a distributed database of transactions with instant global consensus”. Let’s give a shot at creating a framework from which Blockchain applications can be understood or even deducted/created/invented! All Blockchain applications are the result of […]
In our previous article, A Freestyle Interpretation of Money, we argued that -from a value point of view- the form under which money exists is not that important, but that its scarcity is. Now, talking about “form”, let’s have a look at the form of banknotes and the form of a random cryptocurrency. Visually, […]
What is money? Well, the question is one that needs much more than just a small reflection in order to be answered conveniently. But for the sake of easiness and simplicity, let’s try -humbly- to squeeze things down to under 300 words. Here we go! When you consider the economy as a whole, its […]
Hocus pocus! Boom! Blockchain gave birth to a powerful concept of triple-entry-bookkeeping and … it’s simple! Let’s have a look at its workings and some implications. Here you are: make one initial entry on the Blockchain and -based on that entry- make two automated entries in the classical in-house double bookkeeping system. One plus […]