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Posts tagged #blockchain
A mix of technical deep-dives, career reflections, and dispatches from the road.
tag: #blockchain
financeNov 8, 2026· 4 min
Proof of Reserves: What an Exchange's Merkle Tree Can and Can't Prove
Exchanges publish proof of reserves to show customer funds are backed. Here's how the Merkle sum tree works, and the liabilities it was never built to see.
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financeNov 4, 2026· 4 min
Your Bitcoin Wallet Has No Balance: UTXOs, Change, and Why Fees Ignore the Amount
Bitcoin tracks unspent outputs, not balances. Here's how the UTXO model works, where change goes, and why sending $50 can cost more than sending $50,000.
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financeOct 31, 2026· 5 min
How Ethereum Gas Fees Actually Work: Base Fee, Tip, and Burn
Your wallet shows one number, but an Ethereum fee is really three: a burned base fee, a tip for the validator, and a ceiling you mostly get refunded.
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financeOct 10, 2026· 4 min
Bitcoin's Security Budget: What Happens When Fees Are Under 1% of Miner Revenue
Bitcoin pays miners mostly in newly issued coins, and in 2026 fees cover under 1% of miner revenue. Here's how the security budget works and why fees matter.
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financeSep 12, 2026· 4 min
On-Chain Analytics: Transparent Data, Inferred Conclusions
Blockchains publish every transaction, which makes on-chain data feel like proof. Most of the charts built on top of it are inferences, and a few of the…
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financeJun 27, 2026· 4 min
Layer-2 Rollups: How Ethereum Scales Without Sacrificing Security
Ethereum's mainnet can only handle so many transactions, but Layer-2 rollups solve that bottleneck without giving up the security guarantees that make the…
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financeJun 20, 2026· 4 min
How Stablecoins Keep Their Peg — And Why It's Harder Than It Looks
Stablecoins promise $1 forever, but the mechanics behind that stability vary wildly. Here's how fiat-backed, crypto-backed, and algorithmic designs each…
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financeJun 20, 2026· 4 min
Real-World Asset Tokenization: Putting Stocks, Bonds, and Real Estate On-Chain
Real-world asset tokenization is turning traditionally illiquid investments into blockchain tokens. Here is how it actually works and what risks come with it.
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