A Blockchain is a method of storing data. Data is stored in blocks which are linked to the previous block.
But what does a “Block” look like?
Each “block” contains
What exactly are Smart Contracts? The technology community seems to be fascinated by them.
This article will focus on bringing some reality to this fascination, by providing you the most accurate explanation of what they are and what they can do.
Before we delve any deeper into the subject, I have to dedicate a section below to describe What Smart Contracts are NOT. This is purely to address some of the misconceptions of this technology that have become popular in the community.
If you are new to Blockchain and Cryptocurrencies, feel free to skip this section below, and head straight…
Across the spectrum of applications being built on Cryptocurrencies and Blockchains such as exchanges, wallets, and DeFi apps, we have seen the steady improvement and adoption of UX-enabled primitives and standards. To capture the psyche or state of mind of a user as he onboards into one of these platforms, I’ve prepared an analysis below for quantifying the positive and negative emotions that a user experiences during a typical onboarding process. For this analysis, I picked the popular P2P cryptocurrency marketplace, Paxful.
The concept of cryptocurrency was first formulated in 1983, and 25 years later, we had our first completely decentralized cryptocurrency called the Bitcoin! Twelve years since then, the industry is booming, and a significant pattern is observed that has caused this boom.
People have started countless projects in the industry, but few are thriving today. The success or the failures of those projects can be attributed to two key factors — Network Effects and First-mover Advantage. These two factors play a crucial role in enabling the success of user-network-based applications such as Cryptocurrencies, social media, and e-commerce.
Network Effects are…
Depending on the Blockchain platform you choose, Smart Contracts drastically differ in their method of implementation. Public Blockchain such as Ethereum, EOS, Cardano and Tron allow them to be implemented over an open, permissionless network operated by their underlying tokens to pay for different types of fees. On the other end of the spectrum are permissioned Blockchains who execute Smart Contract code on a network whose validators are known and trusted.
Illogical projects, a few absurd people, redundant narratives and the never-ending supply of trolls and memes — over the past few years, the Cryptocurrency space has not for a moment failed to excite its many followers and workers.
In my four years working as a consultant and product manager in this field, I have had quite a few opportunities to work with business leaders, technologists, regulators, and of course shady customers (many of whom would want my head for creating this post) attempting to build that next big crypto-project.
Looking back at these interactions, and combining them with the many…
By now, the failure of 90% of Blockchain and Cryptocurrency projects is quite an openly discussed phenomenon. Projects that started out promising the creation of ‘new ecosystems,’ ‘trustless regimes’, and ‘tamper-proofy wonderlands’ have succumbed at the peak of inflated expectations, leaving a sour taste in the mouths of technologists, investors and enthusiasts alike. What is left are hundreds of ‘decentralized’ applications struggling to gain a sustainable user base, ‘powered’ by tokens who speculators play roller-coaster with at exchanges.
What do so many failed projects have in common?
The short and simple answer — Basic Product Management Practices
Creating great tech…
In this article, I am going to try to uncover some of the better countries to target your cryptocurrency products or dApps based on five parameters —
Let’s get started.
From CoinDesk’s 2018 Q3 State of Blockchain report combined with some of my own research, we’re able to gather the present state of cryptocurrency regulation in most countries in the Americas, Europe, and Asia. However, I could not gather details regarding the…
Upgradeable smart contracts are a desirable design practice given today’s extremely important and ever-changing landscape for smart contract security. In this article, we deploy a plain ERC20 contract, and later upgrade it to a mintable token contract to allow for the functionality of minting new tokens.
However, it is important to keep in mind that there are some key design principles to be followed while coding such contracts. On the surface, smart contract upgradeability may seem like a pretty cool feature to have. However, it violates a fundamental property of Blockchains — immutability. I will be creating a follow-up article…
If you have been following the cryptocurrency craze for long enough, you would know that tokenization is a hot topic that gets easily brought up in most Blockchain conversations. There is plenty of literature surrounding this subject, and many more written about its constituting elements. This article will break down a concept called token velocity in layman’s terms. This concept plays a key role in token design and should be a subject of interest to all token, dApp and ICO participants–especially those who are investing in ICOs and those who are presently preparing for their own.
With this in mind…