You are reading about: "Blockchain Technology 101: Blockchains, Blocks and the Role of Price [Infographic]"
Reposted with permission
Blockchain Technology: The Need to Know
Blockchain is a term that denotes literally a chain of blocks, where block is a bundle of confirmed transactions and additional features that ensure blocks cannot be skipped or reordered in the future.
How do you define Block Time?
Block Time can be defined as the average time that is taken for generating an extra block in the block chain.
Bitcoin Block Time: For Bitcoin 10 minutes will be the block time.
Private, Public and Consortium Blockchain
Blockchains are functioning under the peer to peer networking method. As it is a straightforward phenomena: Not involving any third person into the transaction process.
Private blockchains are similar to decentralized databases and may have its use as an internal tool for organizations and businesses where member parties do not want to trust each other.
Bitcoin is a public blockchain, meaning the use of it is not restricted to anybody. The transactions on Bitcoin blockchain cannot be deemed as canceled nor taken back. This is known as “Reversibility of Transactions”. This is to be noted that majority of the users have lost their Bitcoins, just because of their sheer negligence while transacting.
A semi decentralized blockchain is known as the “Consortium Blockchain”. The users will be restricted by the administrators of this blockchain, since only the faithful nodes are enabled for executing the consensus protocol.
Now, how can a Bitcoin can be owned?
Bitcoin Regulatory Hurdles
Bitcoin specifically has also faced many regulatory issues from protective governments. There are some countries such as Bangladesh, Bolivia, Ecuador, Saudi Arabia, and Kyrgyzstan that have declared Bitcoin as illicit and illegal.
Availability & Price of Bitcoin
- There is a considerable number of Bitcoin ATMs throughout the world. Over 1964 Bitcoin ATM’s are there in USA and 539 in Canada. The number of Bitcoin ATMs through the world is considered a strong fundamental positive in the business of bitcoin trading because it shows there is demand for cryptocurrencies other than for speculation.
- “Bitpay” or Coinbase” are the usual Bitcoin payment services for merchants who decide to accept cryptocurrencies. One of the other popular processors in the past was also “Mycelium“.
- Plenty of exchange providers are available throughout the world that are dealing with cryptocurrencies.
The first and foremost thing to understand about the Bitcoin price is that it would be always fluctuating.
An unforeseen thing can be happened in the increase and decrease of the Bitcoin price within a short or longer period of time.
This is because the fact that cryptocurrencies trade on capital markets and is fundamentally completely normal. However, the amplitudes of cryptocurrency price fluctuations might be relatively high due to its novel nature, illiquid markets, and young economy respectively.
For interesting facts that are not quite common knowledge scroll down through the infographic:
Data is beautiful
New Horizons in Fintech for 2019: Payments, Data and Partnerships [Infographic]
The global fintech market saw a period of consolidation in 2018, which is exactly what we saw also in terms of price evaluation of crypto assets. In spite of the “crypto winter”, which is apparently...
East vs. West: Which One Sides With Blockchain?
Digital cash schemes were the holy grail of the late 90s, but since the bitcoin blockchain was invented, suddenly nobody in the West cares.
Shocking Facts About Cryptocurrency Heists [Infographic]
If there is one question in the history of Bitcoin that cannot be answered with anything more than an estimate, it is the problem of how much of Bitcoin’s supply is actually ever available on...
Brand development in forex and crypto: The most expensive domain names [Infographic]
Crypto infographics - Most expensive domain names in forex and crypto. Targeted brand development in forex and crypto with domain names.
Top 8 Women in Blockchain Technology [Infographic]
When it comes to women in crypto, the pre-2016 OG heads will probably come up with names like Alena Vranova and Blythe Masters. Alena Vranova is the former CEO of Satoshi Labs, the company that...
Blockchain Consortium in Trade Finance: 6 Notable Networks [Infographic]
The success of trade finance blockchain implementations depends on how widely they are adopted. That's why we have seen businesses form consortia based on similar interests.
Comparing Forex Market with Cryptocurrency Markets [Infographic]
One of the few metrics that cryptocurrency markets have in common with the forex markets in 2018 is the high percentage of total trades being located on few most popular markets.
Blockchain Technology 101: Blockchains, Blocks and the Role of Price [Infographic]
Blockchain technology 101: What is blockchain, what types of blockchains exist and what role does the cryptocurrency price play.
Real-world companies that accept crypto payments [Infographic]
Infographic - Graphic map of businesses that let customers pay in bitcoin.
Infographic: Blockchain Hacks & Crypto Trading Platform heists 2018 vs 2017
Blockchain infographic comparing the biggest crypto heists of 2018 and 2017. In 2017 the focus lied more on ICOs, smart contracts and wallet.
15 crypto kings that are making history with their engagement in the field of cryptocurrencies
Coining The Bucks With Cryptocurrencies Have you ever wondered how much masters of the cryptocurrencies are worth? Like the guy who founded Ethereum, or the one who started Ripple, for example. The answer, in short,...
The Good And The Bad Of ICOs
Infographic: The good and bad of ICOs - Which token sales raised the most money in 2018?
Industry News Releases
Call to blockchain coders in the US: The Global Blockchain Hackathon, an event taking place...Read >>
- Etheremon celebrating #ChineseNewYear2019 with a series of bounties (Ends 8:00 AM UTC on Feb 11th)
- Crypto Marble dApp Game: Monopoly on Blockchain
- The dApp gaming platform VX Network launched the official VX Wallet in Apple App Store and Google Play
- Etheremon's first Chinese New Year Campaign: Chance to recall two rare mons
- Fuel Games and Cryptokitties bring you "The Cat in the Pack" until the end of January 2019
- Action RPG dApp game Hero of Cryptoworld is starting its character presale