What Is a Private Key?
A private key is a secret number that is used in cryptography, similar to a password. In cryptocurrency, private keys are also used to sign transactions and prove ownership of a blockchain address.
What Is GameFi and How Does It Work?
GameFi refers to play-to-earn blockchain games that offer economic incentives to players.
Understanding Block Time
Block time can be defined as, the average amount of time it takes for the hashing (computational) power of the network (nodes) to find a solution to the current hash and create a new block.
What are nodes and masternodes?
Without nodes, a blockchain’s data would not be accessible. You could say that nodes are the blockchain.
Understanding Blocks
Blocks are where transaction data is stored in a blockchain. Each block has a hash that uniquely identifies the information contained within the block.
What is Hashing
A hash is a mathematical function that converts an input of arbitrary length into an encrypted output of a fixed length.
What is a smart contract?
A smart contract, like any contract, establishes the terms of an agreement. But unlike a traditional contract, a smart contract’s terms are executed as code running on a blockchain like Ethereum.
What is Peer-to-Peer (P2P)?
In computer science, the definition of P2P, also known as a peer-to-peer network, is a decentralized network that comprises a group of devices (users) connected together to share and store information with each other.