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Guarda team prepares articles on the most relevant data for crypto newcomers as well as advanced users.
Binance Smart Chain (BSC) is a blockchain that runs in parallel with the Binance Chain. Unlike Binance Chain, BSC has smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). Binance Smart Chain is based on a system with up to 21 Proof-of-Stake-Authority (PoSA) consensus validators, that requires minimal block validation time and offers much lower fees.
Atomic swaps can be implemented both on-chain - between two blockchains, and off-chain - outside the blockchain. The concept of cross-chain trading is innovative. Daniel Larimer introduced the P2PTradeX protocol considered to be the first prototype of the atomic swap in 2012. The communities of Bitcoin, Litecoin, Komodo, and Decred have played a significant role in the development and growth of this technology.
The Ethereum network has become very popular in the world of cryptocurrencies and is currently processing large volumes of transactions. In order to continue the growth of the network, node operators are forced to increase their computing power, which can lead to centralized control.
As you might already know, transactions in cryptocurrency come with fees presented by the network. It happens that the services take their transactional fees for sending and receiving cryptocurrency but in the case of a non-custodial wallet like Guarda this does not happen. So, the question is – how are the fees calculated and what are we all paying for when sending cryptocurrency transactions?
A smart contract is a digital protocol that ensures that a contract is automatically executed when the agreed conditions are met. Smart contracts allow you to process transactions without requiring a third party to verify or enforce the agreement. Agreements are traceable and irreversible.
Blockchain is a technology that allows you to transfer digital data with a very complex coding system and in a safe way. At the most basic level, the blockchain is a chain of digital information blocks in which information (“block”) is stored in a public database (“chain”).
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