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Feb 28
2020
Binance Academy Update (February 2020, Part 2) - Lossless Lottery, Scalability, Security, Use Cases, and Competitions!

Articles Released

It’s been 14 days since our last update and on average we’ve released one article every two days. That’s 7 educational pieces ready for you to read, or listen.

Double Spending Simply Explained (17/02/2020)

When it comes to digital cash, ensuring that specific units can’t be duplicated is extremely important. The entire financial system would find itself in ruins if anyone could simply duplicate their money. How can double-spending be prevented? 

Find out more in our article Double Spending Explained

How PoolTogether Turns Saving Money Into a Game (19/02/2020)

The evolution of DeFi (Decentralized Finance) has encouraged creative developers to build entirely new financial services. One of the early examples of this explosion is PoolTogether, a lottery built on Ethereum where no one can lose. How does it work, and how can you participate? 

Find out more in our article How PoolTogether Turns Saving Money Into a Game

Scaling with Sidechains and Payment Channels (21/02/2020)

Protocols like Bitcoin have many strengths, but scalability is not one of them. 

So what’s the issue? How can this be solved?

Learn about different scaling solutions and why they’re needed in our article Scaling with Sidechains and Payment Channels

What is Bitcoin? (Updated) (22/02/2020)

Bitcoin. We all know what it is, but do we REALLY know it? We’ve taken a deep dive into bitcoin and written a comprehensive introduction to bitcoin that can provide valuable information to not only newbies but also experienced crypto users can learn a thing or two.

Read our article What Is Bitcoin or share it with your friends and family. 

12 Popular Candlestick Patterns Used in Technical Analysis (24/02/2020)

Trading is hard. So hard, even CZ says that he is bad at it. Let Binance Academy make it a little easier for you by teaching you some frequently used candlestick patterns which are vital to know if you want to dip your toes into technical analysis.

Read our article 12 Popular Candlestick Patterns Used in Technical Analysis to find out more.

A Guide to Crypto-collectibles and Non-fungible Tokens (NFTs) (26/02/2020)

CryptoKitties, My Crypto Heroes, Gods Unchained, Decentraland, Crypto Stamps… what? Crypto collectibles are gaining in popularity rapidly, but why? True ownership of in-game items is something gamers have been wanting for years, and here it comes. 

Find out more in our article A Guide to Crypto-collectibles and Non-fungible Tokens (NFTs)

Blockchain Use Cases: Prediction Markets (28/02/2020)

Did you know you can trade on who will be the next president of the USA, or whether a man will walk on mars by the year 2025? Prediction markets provide opportunities for people to speculate on the outcome of events.

Learn how prediction markets work and why blockchain has revolutionized them in our article Blockchain Use Cases: Prediction Markets


Other events & updates

Binance Academy x Universitas Kristen Petra

Today, we held an educational meetup in collaboration with Universitas Kristen Petra in Indonesia. We’re exploring more opportunities to host events at more universities around the world. If you’re wanting to collaborate with us on hosting these events, reach out to us via email at academy@binance.com.

Binance Academy collectible giveaway

We asked you the following question:

Which of the following does the Bitcoin blockchain NOT use:

A. Digital signatures

B. Encryption

C. Hash Functions

D. Compression

The answer to this question was: B. Encryption.

If you want to know why the Bitcoin blockchain doesn’t use encryption, read the common misconceptions section in our article What Is Bitcoin