Know Your Customer (KYC)

"Know your customer” is a widespread practice that helps financial organizations reduce the occurrence of illicit financial actions, such as money laundering and fraud. The "know your customer” process validates customer identities using photo identification, proof of address, and other verification methods. Regulations vary depending on institution types but often Read more…

Who invented blockchain

Satoshi Nakamoto Blockchain has the potential to grow to be a bedrock of the worldwide record-keeping systems, but was launched just 10 years ago. It was created by the unknown persons behind the online cash currency bitcoin, under the pseudonym of Satoshi Nakamoto. Q: Who invented blockchain A: Satoshi Nakamoto Read more…

How many block chains are there

The number of live blockchains is growing every day at an ever-increasing pace. As of 2022, there are more than 10,000 active cryptocurrencies based on blockchain, with several hundred more non-cryptocurrency blockchains. Q: How many block chains are there A: 10,000 Knowledge provider:io1stuy4enys8h32uke9hrnfnynp57lyyku963nz9 KNOW TO EARN is committed to building Read more…

What is blockchain use for

blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that are used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks. Q: What is blockchain use for A: blockchain is a Read more…

What is the largest Blockchain

As mentioned earlier, IBM is the largest company in the world embracing blockchain. With over $200 million invested in research and development, the tech giant is leading the way for companies to integrate hyperledgers and the IBM cloud into their systems. Q: What is the largest Blockchain A: IBM Knowledge Read more…

What is blockchain platform

A blockchain platform allows users and developers to create novel uses of an existing blockchain infrastructure. One example is Ethereum, which has a native cryptocurrency known as ether (ETH). But the Ethereum blockchain also allows the creation of smart contracts and programmable tokens used in initial coin offerings (ICOs), and Read more…

Hybrid Blockchain

Hybrid blockchains combine features of public and private blockchains. This model offers structural flexibility, aiming to maximize the benefits of both styles of blockchain. Hybrid blockchains can have both private and public nodes on the same network. On a hybrid network, members’ authorization and responsibilities can be controlled and data Read more…

Hash Timelock Contracts (HTLC)

Hash Time-Locked Contracts are smart contracts utilized to increase the safety of trustless over-the-counter transactions across blockchains. Used on atomic swaps and Bitcoin′s lightning network, HTLCs reduce risk by ensuring that transactions are time-bound. These contracts state that both parties must recognize the stated payment within a specific timeframe for Read more…

Fungible Tokens

Fungibility is the ability for an asset of an equivalent denomination to be interchangeable. Examples of fungible currencies include most fiat currencies such as the US Dollar and some cryptocurrencies, including Bitcoin. Like fiat currencies, fungible cryptocurrency tokens can be divided into smaller parts and easily exchanged. Individual tokens don’t Read more…