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Showing posts from September, 2019

Non-Fungible Tokens: How feasible are they?

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Although cryptocurrencies are the most common, most often mentioned traded product in the blockchain, they’re far from being the only type of token you can find. 
Cryptocurrencies are common because they can be used as currency, since they’re fungible and divisible – but as the technology has grown, another type of token has become common in certain environments: Non-fungible tokens.
What is a non-fungible token?
Non-fungible tokens, or good, are those that can’t be exchanged for other tokens of exactly the same value. Cryptocurrencies are fungible because currencies themselves are fungible. You could lend a friend 1BTC today so he can make a purchase, and he can pay it back next week. 
The BTC you get back won’t be the exact same token, but the value and its properties will be the same. Cryptocurrency tokens, thus, are fungible, just as fiat currencies are.
Non-fungible tokens don’t have this property because, unlike cryptocurrency tokens, they are unique. Each token has properties t…

Shelley Testnet: What is it, and why does it matter?

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The blockchain space is full of projects, most of them trying to tackle different elements of our daily lives. 
These projects range in usability from seemingly superfluous to essential, the proposed uses of the technology encompassing every single part of the world we live in.
Cardano is, at first sight, yet another case of a blockchain that attempts to deal with Bitcoin’s problems of scalability while maintaining privacy, with the added goal of creating a truly distributed blockchain. 
That list of goals, while a good one, is nothing we haven’t seen before. However, there are a couple details on Cardano’s implementation and philosophy that bear mentioning.
First, Cardano is developed following scientific philosophies – that is, everything that goes into it has to first be reviewed and tested extensively. Changes don’t make it to the blockchain easily. 
Second, since everything has to be tested, Cardano has a handful of iterations of its own blockchains called testnets –which is where all…

VeChain Thor Public Blockchain: the promise, extent, and possibilities

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The retail industry has for decades faced a problem with counterfeiting. Not only do fake goods steal them from their earnings, but they’re also often of lower quality, giving users an experience that’s not on brand with the companies. This, in turn, gives them a poor image, thus harming them in all possible ways.
While many attempts have been made to curb counterfeiting, most of them happen at a retail level, leaving customers to trust whoever is selling them goods. 
Until now, there has never been a way for a customer to be 100% sure they’re purchasing legit items other than authorized retailers. VeChain aims to fix this.
A blockchain for supply chains
The blockchain immutable ledgers can be used for hundreds of things, as the recent boom in projects has shown. 
One of the most creative, yet undeniably useful ideas, comes precisely from VeChain. This particular blockchain attempts to keep track of products from the moment they are made until they reach your hands. In other words, i…