A crypto community and social media manager and a content writer
Web 3 simplified - Ohazulike Stanley - Medium
This is currently one of the most sought after words in the tech field. Web3.0 is the third iteration of the internet after web 2.0. This internet version entrust the right of ownership of user data, contents and digital asset to its users (you and I), unlike web2.0 which has a centralized system, entrusting right to ownership of users data and content to government or big tech corporation such as Facebook, twitter, YouTube etc. How it began March 1989, a former employee of CERN (the European...
Web 3 simplified - Ohazulike Stanley - Medium
This is currently one of the most sought after words in the tech field. Web3.0 is the third iteration of the internet after web 2.0. This internet version entrust the right of ownership of user data, contents and digital asset to its users (you and I), unlike web2.0 which has a centralized system, entrusting right to ownership of users data and content to government or big tech corporation such as Facebook, twitter, YouTube etc. How it began March 1989, a former employee of CERN (the European...
Consensus mechanism — — — Proof of work vs proof of stake
Consensus mechanism — — — Proof of work vs proof of stakeEvery transaction that occurs in a blockchain network must be validated for its authenticity in other to ensure or maintain the security of the network. Proof of work and proof of stake are two major consensus mechanisms used in cryptocurrency to validate the authenticity of the transaction. Proof of work, used in bitcoin and Ethereum 1.0 is the older among the two consensus mechanisms, while proof of stake is used in Solana, avalanche,...
Consensus mechanism — — — Proof of work vs proof of stake
Consensus mechanism — — — Proof of work vs proof of stakeEvery transaction that occurs in a blockchain network must be validated for its authenticity in other to ensure or maintain the security of the network. Proof of work and proof of stake are two major consensus mechanisms used in cryptocurrency to validate the authenticity of the transaction. Proof of work, used in bitcoin and Ethereum 1.0 is the older among the two consensus mechanisms, while proof of stake is used in Solana, avalanche,...
WHAT IS DAO - BLOCK6
WHAT IS DAO By Engr. Ohazulike Stanley. A community/ social media manager and a crypto content writerDecentralized autonomous organizations (DAO) are internet-based organizations. It’s a community-driven organization (controlled by its members), it’s autonomous and has no central control or authority The operations of DAOs is only possible with the use of smart contract (smart contracts are programs or codes that are stored on the blockchain and are executed when certain predefined/predetermi...
WHAT IS DAO - BLOCK6
WHAT IS DAO By Engr. Ohazulike Stanley. A community/ social media manager and a crypto content writerDecentralized autonomous organizations (DAO) are internet-based organizations. It’s a community-driven organization (controlled by its members), it’s autonomous and has no central control or authority The operations of DAOs is only possible with the use of smart contract (smart contracts are programs or codes that are stored on the blockchain and are executed when certain predefined/predetermi...
WHAT IS NFT - Ohazulike Stanley - Medium
By Engr. Ohazulike Stanley. A community/ social media manager and a crypto content writerNFT is the short form for non-fungible tokens. It is a unique asset, by tokenizing an asset; you guarantee that you own the asset and that it is unique. The ownership of the NFT is managed in a decentralized manner by the blockchain. Anybody can create an NFT Fungible vs Non-Fungible Fungible assets Fungible assets are non-unique & divisible. When we say something is fungible, it means is equivalent and c...
WHAT IS NFT - Ohazulike Stanley - Medium
By Engr. Ohazulike Stanley. A community/ social media manager and a crypto content writerNFT is the short form for non-fungible tokens. It is a unique asset, by tokenizing an asset; you guarantee that you own the asset and that it is unique. The ownership of the NFT is managed in a decentralized manner by the blockchain. Anybody can create an NFT Fungible vs Non-Fungible Fungible assets Fungible assets are non-unique & divisible. When we say something is fungible, it means is equivalent and c...
ERC-20 vs ERC -721 vs ERC-1155 - Ohazulike Stanley - Medium
ERC-20 vs ERC -721 vs ERC-1155 ERC-20: ERC stands for ethereum request for comment, ERC-20 is a technical standard, proposed by fabian vogelsteller in 2015 and implemented in 2017. It is use to issue and implement fungible token in the ethereum blockchain. This standard lays out all the guidelines that should be followed for a token to effectively function within the ethereum ecosystem. In 2017 & 2018, ERC-20 was a dominant standard in creation of new tokens in the cryptocurrency space. It wa...
ERC-20 vs ERC -721 vs ERC-1155 - Ohazulike Stanley - Medium
ERC-20 vs ERC -721 vs ERC-1155 ERC-20: ERC stands for ethereum request for comment, ERC-20 is a technical standard, proposed by fabian vogelsteller in 2015 and implemented in 2017. It is use to issue and implement fungible token in the ethereum blockchain. This standard lays out all the guidelines that should be followed for a token to effectively function within the ethereum ecosystem. In 2017 & 2018, ERC-20 was a dominant standard in creation of new tokens in the cryptocurrency space. It wa...
