FAQs Archive - DecBC - Decentralization Blockchain

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What are the top 5 things we should know about the new Facebook cryptocurrency Libra?

Libra is a cryptocurrency, that is to say, “a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation...
What are non-Bitcoin/ cryptocurrency applications of blockchain technology?

The Blockchain technology has imaginations running amok. The technology has grown to the point that it can be applied to any need for an accurate, trustworthy record. The hype surrounding blockchain tech is quite...
What do you think about Facebook’s new cryptocurrency, Libra?

“ Libra doesn’t compete with Bitcoin. It competes with other fiat. It’s a private currency vs state currency. (The first time this has been possible with a Blockchain’ish tech.)” -twitter...
What is blockchain technology?

Blockchain is just a decentralised database. What is a database? A database is a data structure used for storing information. This includes data that can be queried to gather insights for...
What is blockchain technology for beginners?

Blockchain is a growing list of records, called blocks, that are linked using cryptography in a *linear sequence forming a chain. Each block contains a cryptographic hash of the previous...
What is a block in blockchain? Where to store the blocks?

A block is a container data structure. In the Bitcoin world, a block contains more than 500 transactions on average. So, a block is composed of a header and a...
What does “blockchain is a linear sequence of blocks” mean?

Current blockchain based projects are designed to function in a linear sequence; one operation functioning after the other. This is a crucial function so that operations occur precisely in their desired order....
What’s the difference between “proof of work” and “proof of stake” in the blockchain?

Both proof of work and proof of stake are consensus algorithms that are designed to achieve reliability in a network involving multiple unreliable nodes. In Proof of work; The probability...

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