The blockchain trilemma is defined as the idea that it is difficult for a blockchain to be decentralized, scalable, and secure simultaneously. Blockchains can only process a certain number of transactions at a time, meaning if blockchain technology were to be adopted globally, it would result in slow transaction times, and high transaction fees. Increasing […]
Articles Tagged: blockchain
What are Decentralized Applications?
Decentralized applications, or DApps, are applications that run on top of a blockchain network. DApps use smart contracts that act as a set of rules enforced by code on a decentralized network, not a centralized system like a regular app would. This makes DApps transparent, decentralized and less vulnerable to fraudulent actions. Decentralized apps use […]
Bear vs. Bull Market
Understanding market trends can help users to make the most informed investment decisions possible. The direction that the overall market is heading is called a market trend. In the crypto space, we hear a lot about bear and bull market trends. Bear Market A bear market is a period of declining prices in a financial […]
Understanding Crypto Wallets
Crypto wallets fall under three main categories; software, hardware, and paper wallets. Depending on their mechanism, a wallet can be “hot” if it connects to the internet or “cold” if it does not. Let’s take a deeper dive into each kind of crypto wallet. Software Wallets Web wallets access the blockchain through a browser or […]
Pythia Oracle
Pythia is responsible for the creation and modification of new entities on the HELO™ blockchain. Pythia itself is a node within the blockchain. Pythia has extended privileges to add and update tokens, block or unblock accounts, add or revoke other oracles, poll configurations, and enable or disable transactions, to name a few. Pythia works by […]
What are Oracles?
Blockchain oracles are a third-party service that allow smart contracts on the blockchain to access external data. Smart contracts do not have external connectivity by default, so oracles serve as a bridge from off-chain to on-chain data. Without blockchain oracles, smart contracts would have extremely limited use because they would only be able to access […]
HELO BLOCKCHAIN NODES
HELO BLOCKCHAIN NODES ARE THE BACKBONE OF ITS DECENTRALIZED ARCHITECTURE Decentralization Decentralization describes the transfer of power from a centralized entity to a distributed network. For a blockchain to be considered “decentralized,” it must have active running nodes that relay information between each other. These nodes take the place of people or controlled systems performing the […]
Creating Tokens on HELO™
Tokens are relatively easy to create on any blockchain. Unlike coins, tokens can be built on a pre-existing network, such as the HELO™ blockchain. It is important to remember that tokens represent an asset or specific use case on that particular blockchain. Tokens and coins have similar roles, but tokens have some kind of utility […]
Tokens: What they are and how they’re used
You may have heard cryptocurrencies referred to as a coin or token. While these terms are often used interchangeably, they shouldn’t be. The distinction between coins and tokens depends on various factors, such as the way the asset is used. Coins are often defined as “native” to the given blockchain environment, meaning they are part […]
HELO™ Transaction Fees
THE HELO BLOCKCHAIN ELIMINATES TRANSACTION FEES AND IMPROVES SPEED In most blockchains, every time a user transfers funds, creates an NFT (Non-Fungible Token), engages with a smart contract, or performs a function that involves the blockchain, there is a cost. Transaction fees reward network validators for securing and operating the blockchain which made the transaction […]
