What Is Proof of Stake?
Proof of stake is a consensus mechanism used by some blockchain networks, including Ethereum. Ethereum’s documentation describes it as the mechanism that processes transactions and creates new blocks. How it fits into Ethereum Ethereum uses validators in its proof-of-stake system. Its documentation explains that validators are responsible for ordering transactions and creating blocks, with other...
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What Is Proof of Work?
Proof of work is a consensus mechanism in which participants demonstrate computational work under a network’s rules. Bitcoin uses proof of work as part of its process for ordering blocks. The basic idea Bitcoin’s white paper describes a proof-of-work system based on searching for a value which, when hashed, meets a required condition. The work...
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What Is Blockchain Consensus?
Blockchain consensus is the set of protocol rules and processes a network uses to agree on a valid history or state. It is a technical term, not a promise that every participant agrees about everything outside the network. Why a network needs consensus Blockchain networks have multiple independent computers receiving and checking information. Consensus mechanisms...
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What Is a Blockchain Node? A Technical Explainer
A blockchain node is a computer or software instance that participates in a particular blockchain network. Its tasks depend on the network and the type of node. What nodes can do Bitcoin full nodes download and verify blocks and transactions before relaying them to other nodes. Ethereum describes a node as an instance of Ethereum...
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What Is a Hash in Blockchain? A Technical Explainer
Can a transaction hash prove where crypto came from? Short answer: No. A transaction hash can identify a particular on-chain transaction and help you inspect its inputs, outputs, timing, status and links to other transactions. It does not, by itself, prove who controlled an address, who legally owned the crypto, whether the transfer was lawful,...
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What Is a Blockchain Block? How Blocks Work
A blockchain block is a protocol-defined record that can group transactions with other data used by that network. It is one piece of the chain of records that gives a blockchain its name. What a block contains There is no single block format for every blockchain. The rules come from the protocol. Bitcoin documentation describes...
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Bitcoin vs cryptocurrency: what is the difference?
Bitcoin is a cryptocurrency. Cryptocurrency is the broader term for digital assets that use cryptography and typically a distributed ledger such as a blockchain. In other words, Bitcoin is one example of cryptocurrency, but not every cryptocurrency is Bitcoin. The distinction matters because different cryptoassets can use different networks, rules and technologies. A description of...
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Discover the 2024 Value of the 2008 £2 Olympic Centenary Coin
The unveiling of the 2008 £2 Olympic Centenary coin by the Royal Mint marked a significant milestone in the numismatic community, commemorating the centenary of the London Olympic Games held in 1908. Crafted under the auspices of Her Majesty Queen Elizabeth II, this limited edition piece not only celebrates an iconic event in the annals...
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The Wedgwood 2019 £2 BU Coin: A Collector’s Perspective
In the fascinating realm of numismatics, the Wedgwood 2019 £2 coin stands out as a piece of British coinage that elegantly bridges the gap between historical significance and modern collectibility. The Royal Mint crafts this limited edition commemorative coin with meticulous precision to celebrate the 260th anniversary of one of Britain’s most revered potters, Josiah...
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200th Anniversary Queen Victoria £5 Silver Proof Coin: A Collector’s Gem
The Royal Mint issued a £5 commemorative coin in 2019 for the 200th anniversary of Queen Victoria’s birth. This article focuses on the silver Proof Piedfort version and explains what its specifications can tell you when identifying the coin. The coin should be assessed as a collectable item, not as an everyday circulating £5 coin....
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1966 FIFA World Cup 2016 £5 Coin Value: What Collectors Should Know
The Royal Mint issued the 1966 FIFA World Cup £5 coin in 2016 to mark the 50th anniversary of England’s World Cup victory. It is a commemorative coin, so its collectable value depends on the version, condition, packaging and demand rather than its £5 denomination alone. This guide covers the coin’s history, design, specifications and...
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The Rolling Stones £5 2022 Coin: How Much Could It Be Worth in 2024?
The Royal Mint issued The Rolling Stones £5 coin in 2022 to mark the band’s 60th anniversary. It is a commemorative coin, not a standard £5 coin intended for everyday change. The coin’s value depends on the version, condition, packaging and demand. A £5 face value does not mean that every example will sell for...
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