The Beginner’s Guide to Unspent Transaction Output (UTXO)

Unspent Transaction Output (UTXO) has sparked numerous debates within the crypto community. Although UTXO presents some disadvantages, it is necessary for the successful completion of blockchain transactions. The UTXO model is a fundamental pillar of several blockchains, including Bitcoin. This article explores UTXO in-depth and includes everything you need to know. It highlights what it is and how it works before discussing the advantages and disadvantages. UTXO Defined: What is it? UTXO stands for Unspent Transaction Output. It refers to…

What Really Happens When Swapping Crypto?

The process of swapping crypto can be somewhat complex. Sometimes, you may end up lacking the exchange assets you need. For instance, you may want to exchange BTC for ZIL. Generally, there are very few exchanges that support direct BTC to ZIL exchanges. Therefore, in many scenarios, an individual will have to find a BTC trading pair. Exchange the BTC to another pair connected to ZIL, then complete by exchanging the second asset to Zil. Generally, following the whole exchange process involves two…

Setbacks in Crypto Transactions That Should Be Addressed

We've all heard a lot about cryptocurrencies and blockchain. People talk so much about the good, and the hype could easily blind us from industry setbacks. Not like the drawbacks come anywhere close to what blockchain and cryptocurrencies provide. More people are adopting digital currency, and institutions are accepting them as payment.  Tesla CEO's acceptance of Bitcoin was part of what threw Bitcoin to an all-time high earlier in 2021. However, for anyone getting started in the crypto world, it's…

Why Should the Crypto Community Consider Buying Blockchain Phones?

Blockchain browsers, social media, and now recently, blockchain phones all these developments show how fast the blockchain world has been growing in the past few years.  However, although there are several blockchain phones, a large chunk of crypto investors is yet to embrace the idea of blockchain phones. Can't regular phones make crypto transactions? Why should a crypto enthusiast decide to use blockchain phones? Keep reading for more insight on the topic.  Can Regular Phones Make Crypto Transactions? Regular phones…

Understanding the Bitcoin Mempool and Why It’s So Important

The Bitcoin Mempool is a critical component of Bitcoin's core functionality. Mempool is simply a shortened version of the phrase “Memory Pool.” This protocol is the first place that any new transactions are noted on Bitcoin's blockchain. In essence, it’s a holding pen for all pending transactions before they are presented to miners. Notably, every node maintains a Mempool. Mempool allows Bitcoin’s network to keep track and manage all of its transactions in an organized and democratic manner. Remember, Bitcoin…

Nigeria’s Central Bank Bans Banks From Serving Crypto Traders and Exchanges

A few months after news of an upcoming regulatory framework for cryptocurrencies in Nigeria, crypto traders in the country have been faced with shocking news from the Central Bank of Nigeria (CBN). The apex bank has ordered financial institutions in Nigeria to stop offering banking services to crypto exchanges and other related businesses.  In a circular issued by the CBN on Friday, February 5th, 2021, the regulator demanded that all Deposit Money Banks(DMBs), Non-Financial Institutions (NBFIs), and Other Financial Institutions…