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What Is A Smart Contract?

A Smart Contract is code that is deployed to the blockchain. Each smart contract contains code that can have a predefined set of inputs. Smart contracts can also store data. Following the distributed model of the blockchain, smart contracts run on every node in this technology, and each contract’s data is stored in every node. This data can be queried at any time. Smart Contracts can also call other smart

What Is A Private Blockchain?

Private blockchains are deployed either within an organization or shared among a known group of participants. They can be limited to a predefined set of participants. In this case, no one else can access them or the data residing in them. They can be secured in a similar way to securing other integrated enterprise applications (e.g. firewalls, VPN etc).

Change addresses

When you view your expanded transaction details, you may see addresses under “Received By” called Change Addresses. To understand change addresses, first we’ll need to explain how cryptocurrency transactions work. Then, we’ll get into change addresses and their role in the transaction process. Every cryptocurrency transaction is made up of at least one input and output. Inputs and outputs are how the breakdown or denomination of cryptocurrency happens as funds

Public and private keys

Bitcoin, as well as all other major cryptocurrencies that came after it, is built upon public-key cryptography, a cryptographic system that uses pairs of keys: public keys, which are publicly known and essential for identification, and private keys, which are kept secret and are used for authentication and encryption. Major cryptocurrencies like Bitcoin, Ethereum, and our very own Radium function using three fundamental pieces of information: the address, associated with

Rejected Transactions

In most cases, the cryptocurrency transactions you send will confirm normally without any problems. There are some circumstances, however, that may lead a transaction to be unsuccessful and fail. When this happens, the transaction is considered rejected. In this article, we’ll explain what this means, why a transaction may reject, and what happens to those funds. The role of fees To explain rejected transactions, we’ll touch on the purpose of

Transaction fees

Every cryptocurrency transaction must be added to the blockchain, the official public ledger of all completed transactions, in order to be considered a successful and valid transfer. The work of validating transactions and adding them to the blockchain is done by miners, which are powerful computers that make up a portion of the network and confirm its transactions. Miners spend vast amounts of computing power and energy doing this for

What is blockchain technology?

As many are aware, Bitcoin is and was the first successful implementation of blockchain technology. The term “blockchain technology” typically refers to the transparent, trustless, publicly accessible ledger that allows us to securely transfer the ownership of units of value using public key encryption and proof of work methods. The technology uses decentralized consensus to maintain the network, which means it is not centrally controlled by a bank, corporation, or government. In fact, the

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