What is the Blake 2b algorithm (blok coin)
What is the Blake 2b algorithm? The blockchain data platform Blockchair stated o
What is the Blake 2b algorithm? The blockchain data platform Blockchair stated on Twitter that the Blake 2b algorithm is associated with the coin BAKE. It does not rely on centralized exchanges for maintenance, but is supported by its internal transaction protocol (such as Uniswap), making it similar to Bitcoin. Additionally, Bake also uses a similar approach to Zcash.
Note: zk-SNARK is a new form of cryptocurrency that can prevent hackers from manipulating prices and deceiving users to launch attacks or steal assets for profit.
blok coin
According to official sources, blok coin is positioned as the “first decentralized cryptocurrency”. The goal of this project is to create a next-generation financial platform based on blockchain technology. Its codename is BLK (Blockchain Ledger Coin). It is a technology solution that converts digital content into virtual assets, allowing people to transfer information, value, or goods without compromising privacy and control.
According to the introduction, Blik is an open-source software built by developers to facilitate direct communication between distributed applications and mainstream networks. It allows the creation and management of public ledgers using smart contracts, which can be accessed publicly off the chain and scaled through distributed ledger technology.
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