Lossless and Lossy Compression in the context of data compression refers to different methods of reducing the size of data. While these techniques are commonly used in digital storage and communication, they are also relevant to blockchain systems like Cardano when optimizing data storage and network efficiency. Let’s break down the two types of compression…

Big-O Notation is a way of describing how the performance (time or space) of an algorithm scales as the size of the input data increases. It tells us how quickly the run-time or memory usage grows as the input size gets larger. Big-O notation focuses on the worst-case scenario to give us an upper bound…

The Nakamoto Coefficient is a metric used to measure the decentralization of a blockchain or distributed system. It represents the minimum number of entities (such as validators, miners, or nodes) required to disrupt the network’s consensus, effectively gaining control or halting the system. The higher the Nakamoto Coefficient, the more decentralized and secure the system…

Cardano’s block structure refers to the organization and format of data within a block in the Cardano blockchain. Each block contains several key components, including transaction data, metadata, and cryptographic proofs, which collectively enable the secure and verifiable operation of the blockchain. Cardano’s block structure is designed to be efficient and scalable, leveraging its Ouroboros…

Block producers in Cardano are entities responsible for creating and validating new blocks on the Cardano blockchain. They play a crucial role in the network’s security and functionality by processing transactions and adding them to the blockchain. Key Points about Block Producers in Cardano: How Block Production Works in Cardano: In summary, block producers (stake…

In the Cardano ecosystem, there are two primary types of addresses: payment addresses and stake addresses. Payment addresses are used for sending, receiving, and holding ADA or other native tokens, while also supporting staking and delegation in certain configurations. These addresses allow users to transact and participate in the Proof-of-Stake (PoS) mechanism. Stake addresses, on…

A nonce (short for “number used once”) is a value used in cryptographic systems that is typically random or pseudo-random and is employed to ensure that certain operations, like encryption, authentication, or proof generation, are only valid once. The purpose of a nonce is to prevent replay attacks, duplication, or the reuse of cryptographic processes…

The Follow the Satoshi (FTS) Algorithm is a key mechanism used in Proof of Stake (PoS) blockchain systems to fairly and randomly select a validator (or stake pool) for a particular task, such as creating a new block or validating transactions. The algorithm is named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin, and it…