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Tech enthusiast — Blockchain focused — 5 articles a week

So for those who don’t even have the 5 minutes to read through all of this, I’ll give you a TL;DR.

A dusting attack refers to a relatively new kind of malicious activity where hackers and scammer try and break the privacy of Bitcoin and cryptocurrency users by sending tiny amounts of coins to their wallets. The transactional activity of these wallets is then tracked down by the attackers, who perform a combined analysis of different addresses to de-anonymise the person or company behind each wallet.

So What Is Dust?

In the world of cryptocurrencies, the term dust refers to a tiny amount of…


What is Crypto-economics?

Cyrpto-economics provides a way to coordinate the behavior of network participants by combining cryptography with economics.

More specifically, crypto-economics is an area of computer science that attempts to solve participant coordination problems in digital ecosystems through cryptography and economic incentives.

It is essential to consider crypto-economics when building decentralised networks because it is the mechanism that provides a way to align participants' incentives without the need for trusted third parties.

Rather than being a subset of traditional economics, crypto-economics is a mix of game theory, mechanism design, math, and a range of other methodologies from the field of economics. …


What is a peer-to-peer(P2P) network

In computer science a peer to peer network consists of a group of devices that collectively store and share files. Each participant acts as an individual peer. Typically all nodes have equal power and perform the exact same tasks.

In financial tech, the term peer-to-peer usually refers to the exchange of cryptocurrencies or digital assets via a distributed network. A P2P platform allows buyers and sellers to execute trades without the need for intermediaries. In some cases, websites may also provide a P2P environment that connect lenders and borrowers together.

How Does P2P Work?

The essence of a P2P system is maintained by a…


Privacy has always been a fundamental of cryptocurrency. It is the precursor to fungibility, which is necessary for a widely used form of money. Similarly, most crypto-assets holders don’t want their holdings and transaction history to be completely public. Amongst the various cryptographic techniques aiming to provide privacy to Blockchains, the zk-SNARKS and zk-STARK proofs are noteworthy.

zk-SNARK standard for zero-knowledge succinct non-interactive argument of knowledge, and zk-STARK represents zero-knowledge succinct transparent argument of knowledge. zk-SNARKS proofs are already being used in Z-cash and on the JP Morgan Chase Blockchain. …


Introduction

Scaleability broadly refers to a system's ability to grow to accommodate increasing demand. When we speak about scaleability in Blockchain, we are referring to growth in their capacity to handle more transactions.

So What Is The Problem

Lets use the example of Bitcoin, running a Bitcoin node is relatively cheap, and even the simplest devices can now do it. But since the thousands of nodes need to stay up to date with each other, there are certain limitations on their capacity.

Caps are placed on the number of transactions that can be processed on-chain, so as not to allow the database to grow to unwieldy…


For those who don’t want to deep dive into what the network effect is I will give you the smallest TLDR in existence:

“A network effect is when a product becomes more valuable as more people use it. “

What is a network effect?

So a network effect is an economic effect that describes a product or service where additional users add value to the network. When a network effect is present, each new user adds value to the product by entering the network. This in turn, incentivises new users to join the network, adding more value to it; this goes on and on

A…


First thing first, Multisig stands for Multi-signature, which is a specific type of digital signature that makes it possible for two or more users to sign documents as a group. Therefore, a multi-signature is produced through the combination of multiple unique signatures. Multisig technology has been massive within the world of cryptocurrencies and with the recent explosion of Blockchain again I feel it’s important for all to know about this.

So How Does It Work

Using a simple analogy, we can imagine a secure deposit box that has two locks and two keys. One key is held by Charlie and the other is held by…


One of my favourite concepts of Blockchain is the Marketplace. On one hand, a marketplace built on Blockchain technology makes complete sense — after all, Blockchain is all about decentralisation and removing middlemen. On the other hand, marketplaces today are globally complex behemoths, which need massive amounts of management and administration.

Questions start to grow when you look at the reality of servicing a marketplace and the high customer expectations set by the current retail world leaders. There are many questions, which affect customer services, around delivery, marketing, quality, and many other issues.

A Blockchain-based marketplace will grow (some are…


When looking at Blockchain from a holistic point of view it is clear that the technology is still at version 0.5 or 0.7 and the technology as a whole yet hasn’t even reached 1.0. I believe that Blockchain will start to hit its strive in 2025 and I have given my reasons in a previous post here.

Moving Quickly

In order to succeed, with Blockchain technology moving so quickly, we will need to adopt an agile and iterative mindset to the technology. …


Looking at Blockchain attacks the Eclipse attack is relatively simple attack that a malicious actor could deploy to interfere with the nodes on a network. As the name suggests the attacks obscures a participants view of the network. In order to cause disruption or give time to prepare for a more sophisticated attack.

An Eclipse attack sounds similar to a Sybil attack, they do share similarities — the malicious actor floods the network with fake peers — but their end goal is different. …

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