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March 1, 2021Latest BlogInvesting in ICOs are profitable but also highly risky. When people buy/invest in ICOs of a company, if the company is successful the value of the company’s coins go up in value. However, if the company does not perform well, the coins depreciate in value. The ICO market is at its development stage and is not fully regulated.  In some jurisdictions like China and South Korea, ICOs are banned. Although ICOs are used for various ventures such as charitable fundraising and corporate finance, some ICOs are fraud. How to make profit with ICOs: Investors make money through investing in ICOs after the coins token’s increase in more value than the value of fiat money or cryptocurrency used to purchase them. [...] Read more...
March 1, 2021Latest BlogAn initial coin offering (ICO) is a way of crowdfunding for start-up companies and allows them to avoid many costs such as regulatory compliance costs required by banks for instance. In an ICO venture, a percentage of cryptocurrency is sold to initial backers for fiat money or other cryptocurrencies. Currently, the leading blockchain platform for ICOs is Ethereum. Every week, new ICOs are released. When an ICO is introduced, there is a set funding goal which is expected to be met within a specific time period. In this period, the ICO is raising funds and seeking investors to invest in it. The crowdfunded coins are referred to as tokens and are given to investors.Once the project launches, tokens are issued to investors and can be used as currency to be sold or to buy other cryptocurrencies such as Bitcoin or Ethereum. Difference between IPO’s and ICOs: The term ICO has been compared to the term IPO (Initial Public Offerings) in relation to the share market, With IPOs’ companies sell their stock to the public/ investors who are interested in buying shares from the company as an investment. With ICO’s, companies transfer/sell their coins through tokens. ICO and IPO’s are both excellent options of raising large sums of money for companies and early investors. Other options for companies to raise funds would be through bank loans or being acquired/bought by another company. [...] Read more...
March 1, 2021Latest BlogBitcoin mining is all about confirming transactions and has nothing to do with physical mining. It is similar in that bitcoin miners mine bitcoin out. Mining is the process of miners adding and collecting transaction records on the blockchain network which is the public ledger. This is done using special software and the solving of complex computer problems which results to new coins in each block. A node is a computer that is used for the bitcoin software to operate on and quickly spreads bitcoin transactions around the network. Essentially, miners help to ensure the network is stable and secure. How can I start mining? To become a cryptocurrency miner, you will need the internet, a hardware setup location, a coin wallet, mining hardware and software, membership in a mining pool and a currency exchanger and an ATI graphics processing unit. Mining is generally an expensive process. However, an individual can earn from mining without becoming a miner through a suitable and reliable mining commission programme available online. [...] Read more...
March 1, 2021Latest BlogBitcoin is the first ever decentralized cryptocurrency, digital asset created in the world. Bitcoin was created in 2009 by someone under the name of Satoshi Nakamoto. Bitcoins and other cryptocurrencies are generated through a process called mining. Bitcoin is electronically held by users in an online or offline wallet. Unlike traditional bank notes and coins, bitcoin cannot be printed. Benefits of Bitcoin: There are numerous benefits to using bitcoins such as: that there is a low inflation risk as bitcoin is limited to twenty-one million bitcoins. In comparison to money issued by governments around the world, bitcoin cannot be inflated. Bitcoin can be used to transfer any amount of money between anyone anywhere in the world who has access to a wallet- a software used to store, receive and send bitcoin from. Bitcoin can be used as a form of payment to purchase products, services and other cryptocurrencies from all over the world. This could be from a variety of online retailers to other merchants outside the web. What is bitcoin cash? According to bitcoincash.org, ”Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale”. [...] Read more...
February 17, 2021Latest BlogFacebook has begun a discussion with the UNITED STATES Commodity and Futures Trading Commission (CFTC) over their crypto stablecoin effort. The cryptocurrency which is under Facebook’s Project Libra, is apparently intended to permit Facebook’s international customers to move money throughout the worlds boundaries as well as to make online acquisitions. According to a record from the Financial Times on Sunday, the CFTC chairman Christopher Giancarlo stated the company held “very beginning of conversations” with Facebook. The objective was to better recognize if the company’s crypto stablecoin could potentially fall under the CFTC’s governing remit. Essentially, this means whether this would be an area of the CFTC’s activity. ” We’re really interested in understanding it much better,” Giancarlo was heard as stating in the record. “We can only act on an application, we don’t have anything before us.” The information comes in the middle of recent news that Facebook additionally held talks with government authorities in both the U.S. as well as the U.K. to go over possibilities as well as governing issues for its crypto stablecoin called GlobalCoin. Giancarlo added that it is now ahead of time to state whether or not Facebook’s GlobalCoin could drop under CFTC’s remit. However, he stated that if the cryptocurrency can be backed by the U.S. dollar, there may be much less of a demand for derivatives linked to it. “That’s really brilliant,” Giancarlo claimed of its design. However, the report added that a top compliance problem by regulatory authorities is whether and also just how Facebook will abide by as well as apply the anti-money laundering policy and know-your-customer actions and measures. [...] Read more...
February 17, 2021Latest BlogThe blockchain is the public ledger that monitors and records every bitcoin transaction. These transactions are all bundled into a batch called a block which links to the previous block using a hashing algorithm. Blockchain technology is intrinsically linked to Bitcoin cryptocurrency and is the software that allows the digital currency to function. Blockchain technology has been praised by many. “This is the distributed trust network that the Internet always needed and never had.”- Marc Andreessen Block chain technology has been described as a distributed consensus where all transactions online are able to be verified now and in future as information can never be erased which is achieved without compromising the privacy of parties and digital assets involved. Blockchain technology outside cryptocurrency: It is important to note that although block chain technology was introduced with bitcoin cryptocurrency and can be explained by explaining how bitcoin works, it also exists outside of cryptocurrency. For example, it can be used in the operation of smart contracts and used as a framework. Smart contracts and block chain technology can easily work together to trigger a payment when a preprogramed condition of a contract is met. Hence, Blockchain technology can work outside of cryptocurrency altogether. [...] Read more...
February 17, 2021Latest BlogHow bitcoin transactions work: You need a bitcoin address and private key to transfer bitcoin. A bitcoin address consists of 34 numbers and letters and is also known as a public key. The private key consists of 64 numbers and letters. Unlike the public key which can be seen by anyone, the private key must be kept secret and safe. All bitcoin transactions are public on the bitcoin ledger also known as the blockchain. Time it takes for bitcoin transactions: The time it takes for a bitcoin transaction to go through depends on the bitcoin mining process. Each bitcoin transaction is verified by miners. It takes approximately 10 minutes for each block to be mined. Companies that accept bitcoin as payment: Bitcoin is the leading cryptocurrency in the world. As a result, many large and small companies have created opportunities for shoppers to use their bitcoin to their products online for example. It is expected that even more companies will start accepting bitcoin as payment for their goods as the trend is quickly growing. However, many companies still doubt bitcoin and cryptocurrency in general as a form of payment due to the absence of government backing and lack of regulation. Although most companies do not accept bitcoin, many do. Below is a list of some of the companies who accept bitcoin: KFC Canada Virgin galactic Expedia.com Microsoft Subway Wikipedia Bloomberg.com Shopify.com Lionsgate Films T-Mobile Poland Reddit CheapAir.com [...] Read more...
February 17, 2021Latest BlogInvesting in ICOs are profitable but also highly risky. When people buy/invest in ICOs of a company, if the company is successful the value of the company’s coins go up in value. However, if the company does not perform well, the coins depreciate in value. The ICO market is at its development stage and is not fully regulated. In some jurisdictions like China and South Korea, ICOs are banned. Although ICOs are used for various ventures such as charitable fundraising and corporate finance, some ICOs are fraud. How to make profit with ICOs: Investors make money through investing in ICOs after the coins token’s increase in more value than the value of fiat money or cryptocurrency used to purchase them. [...] Read more...
February 17, 2021Latest BlogA cryptocurrency wallet is a digital wallet where cryptocurrency can be stored, received and sent from. It is also used to monitor the balance of cryptocurrency held. Once you get a wallet, you will have a wallet address which can be used by others to send you cryptocurrency. How can a wallet be created and where? There are numerous sites online where you can create wallets. It is advisable to do research before choosing a provider as some are more secure than others. There are also other wallets available. For example: hardware wallets such as a USB, mobile wallets which can be used on your phone, desktop wallets and paper wallets. The rapid growth of mobile wallets which are used to store cryptocurrency has caused cryptocurrency to be easily accessed. This has clearly supported the growth of virtual currencies. [...] Read more...
February 17, 2021Latest BlogBlockchain games programmer Lucid Sight is joining media firm CBS Interactive to bring Star Trek game play and antiques to the blockchain. Lucid Sight revealed that it has signed a contract with CBS to introduce the legendary starships from the popular TV and movie franchise business right into an electronic universe with its space-based video game CSC later on this year. Gamers of CSC, for a minimal time, will be able to acquire the starships, consisting of the U.S.S. Enterprise, which will certainly be sold as special electronic antiques or keepsakes. Every one of the spaceships sold in CSC will certainly be protected as symbols on the ethereum blockchain and also distinctively number based on the order of production. The collectible items will certainly be playable in the CSC game world utilizing the ERC-721 criterion– which enables the creation of one-of-a-kind or non-fungible tokens– to be totally tradable in-game or outside of CSC in third-party markets such as Ocean Sea. CSC is an open-universe video game where players command starships to mine, harvest and craft items on ethereum, enabling CSC to offer “proveable, transferable, transparent as well as delegated control” of its in-game properties, Lucid Sight stated. In relevant news, “Celebrity Expedition” acting legend William Shatner last month announced he was partnering with Mattereum, a legaltech company headed by former ethereum launch organizer Vinay Gupta, to highlight its Asset Key innovation, which uses “legally-binding” smart contracts to record the authenticity of real-world collectible products. [...] Read more...