Blockchain is a data structure that stores records in a queue system. There are two types of blockchains: public and private. Public blockchains, like Bitcoin, allow anyone to view all transactions, while private blockchains restrict access to authorized individuals. In this session, we explain that a “block” is essentially a bundle of transactions. This bundling ... Read more
In this episode we explain that supply and demand, fundamental principles in economics, also apply to Bitcoin and its pricing. These forces can either increase or decrease supply and demand, thereby affecting price. Bitcoin was developed to address issues like inflation that erode people’s purchasing power over time. Traditional financial systems, managed by governments or ... Read more
In this episode, the focus is on the role of incentives in blockchain technology, specifically in Bitcoin, to ensure network security. Two main consensus algorithms for providing these incentives are discussed: Proof of Work (PoW) and Proof of Stake (PoS). In PoW, miners use computational power to solve complex equations, thereby creating new coins and ... Read more
In this episode, we discuss the recent political upheaval in Sri Lanka due to high inflation and examines the role of cryptocurrencies like Bitcoin in the global economy. The conversation explores the evolving definitions and forms of money, from barter systems to digital currencies. We emphasize that Bitcoin serves as digital money, sharing similar properties ... Read more
In this episode we discuss how the Melanin Solar project uses blockchain technology and CPU mining to enable community members to trade electricity. Utilizing the Lightning Network and the Whive protocol, the system allows energy to be stored and shared as digital tokens. Over 2,000 people are expected to gain affordable power access through this ... Read more