Crypto Glossary

Posted on September 13, 2021 in


A blockchain is a decentralized block of all transactions across peer to peer networks. The blockchain contains a unique identifier to differentiate it from other blocks in the chain.

Blocks are created by solving cryptographic problems.

The process of solving these problems is mining. Mining a block on the blockchain will give a reward to miners. Blockchains are decentralized data records. The blockchain is stored on every user’s computers that are given blockchain.

How blockchain works

The requested transaction is broadcasted to peer to peer network consisting of computer nodes. The P2P network of nodes validates the transaction and the user’s status know algorithms. A verified transaction is involved cryptocurrency,contracts,records and other information. After the transaction is verified, it will be combined with other transactions to create a new data block for the ledger. Then the new block is added to the existing blockchain which is permanent and unalterable and then the transaction is complete.

Advantages of blockchain

  • Accuracy : transactions on a blockchain network are approved by a network of computers. It reduces the human involvement in the verification process, human error and enhances an accurate record of data.
  • Decentralized system : the approval of regulatory authorities by government or banks for transactions. However, transactions are approved by the mutual consensus of users; results in transactions are safers and faster.
  • Transparency : Most blockchains are open source. It means that anyone can view the code and transactions.

Disadvantages of blockchain

  • Illegal activity : Although confidentiality on the blockchain network protects users from hackers, it allows illegal trading on the blockchain network.
  • Speed inefficiency : Bitcoin’s system takes a bit long to add a new block to blockchain. Although other tokens such as Ethereum perform better than bitcoin, their blockchains still limit.

Related Articles

Let the blockchain games begin

June 14, 2022

Let the blockchain games begin

This article includes everything you need to know about Blockchain Gaming and the Top Blockchain Games you should definitely check out.

4 Popular Play-to-Earn Blockchain Games

October 15, 2021

4 Popular Play-to-Earn Blockchain Games

We’ve learned about Blockchain and crypto gaming in the previous articles. Let’s stay updated on popular blockchain games you shouldn’t miss.

What are Blockchain and Cryptocurrency?

October 07, 2021

What are Blockchain and Cryptocurrency?

A blockchain is a decentralized ledger that records all peer-to-peer transactions. Cryptocurrency is a decentralized digital asset that uses blockchain technology to send, receive, buy and sell things.

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides financial access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.

Cryptocurrency and digital token involve high risks; investors may lose all investment money and should study information carefully and make investments according to own risk profile.

Zipmex Company Limited ("Company") operates a digital assets brokerage business. In order to increase the liquidity for digital assets trading on the Company's exchange platform, the Company sends and receives trade orders from one third-party exchange which is Zipmex SG, our affiliated company located in Singapore. No fees or compensation is provided between the parties. Any references to Zipmex SG is a reference to Zipmex Pte. Ltd.