Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
What is a Digital signature
Digital signatures are the most advanced and secure type of electronic signature. You can use them to comply with the most demanding legal and regulatory requirements because they provide the highest levels of assurance about each signer's identity and the authenticity of the documents they sign. Digital signatures use a certificate-based digital ID issued by an accredited Certificate Authority (CA) or Trust Service Provider (TSP), so, when you digitally sign a document, your identity is uniquely linked to you, the signature is bound to the document with encryption, and everything can be verified using underlying technology known as Public Key Infrastructure (PKI).
The fast money transfer network, Ripple, and its associated coin, XRP, have been enjoying steady acceptance and growth over the five years since their inception. Here’s why.
When talking about Ripple (XRP), people often overlook the product that caused it to exist: the Ripple Network. Unfortunately, even though it’s been accepted by several banks as a legitimate money transfer system, the platform is a bit more complex to figure out than your regular cryptocurrency.
So we’re going to go through it and explain every piece along the way.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
What is Tronix (TRX)?
Tronix (TRX) is the official currency of TRON, which aims to be a decentralized entertainment content sharing platform eventually leveraging blockchain and peer-to-peer (p2p) network technology. Founded by a non-profit Singapore-based foundation, the Tron Foundation seeks to tackle the global entertainment industry – currently valued at $1 trillion.
According to its whitepaper, “TRON’s team members are followers of Sir Tim Berners-Lee, who are convinced that protocol, from the moment of its invention, is an asset for human beings, rather than a profit-making tool for small groups.” Tim Berners-Lee is the founder of the World Wide Web.
TRON’s open, decentralized platform and distributed storage technology will allow creators of digital content to cut out middlemen such as the Apple Store and Google Play Store. Content producers will thus be able to obtain funds directly from consumers.
Currently, a lot of user data and traffic is controlled by a few corporations like Google, Facebook, Amazon, & Snapchat. TRON attempts to mitigate this control by placing ownership of the data back into the creator’s hands.
Key features of TRON
TRON wants to “Heal the Internet” through the following features:
Data liberation: free and uncontrolled data
Enabling content ecosystem where users can obtain digital assets from content spreading
Personal ICO with the ability to distribute digital assets
Infrastructure to allow distributed digital assets exchange (such as games) and market forecasting.
Economic Gain: TRON 20 Token and TRON Power (TP)
The Tron 20 Token will hold value and allow individual content owners to make custom tokens on the platform, similar to the cryptocurrency Waves. It should be noted that the TRON 20 Token is not the same as Tronix, which is the medium of exchange on the platform.
With the company seeking long-term investment and pushing away those investors looking to make a quick profit, the TRX token themselves will be able to be locked away to gain TP. Doing so will give users upward mobility in the ecosystem with power moves such as voting rights and higher status. The longer your tokens are locked away, the more TP TRON will reward you.
What are Crypto futures?
Futures are not just for physical assets; they can be traded on financial assets as well.
With Bitcoin futures, the contract will be based on the price of Bitcoin and speculators can place a “bet” on what they believe the price of Bitcoin will be in the future.
In addition, it enables investors to speculate on the price of Bitcoin without actually having to own Bitcoin.
It has two major consequences.
First, while Bitcoin itself remains unregulated, Bitcoin futures can be traded on regulated exchanges. This is good news for those who are concerned about the risks related to the industry’s lack of regulation.
Second, in areas where trading Bitcoin is banned, Bitcoin futures allow investors to still speculate on the price of Bitcoin.
Is blockchain technology the new internet?
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology.
Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain guide
What is Self Mining
Minereum is the first ever self-mining smart contract
Minereum started with Genesis, from which between April 14-15, 2017, they collected what was termed as “Genesis addresses.” These were Ethereum wallet addresses that were collected openly in online cryptocurrency-related forums, which resulted in 4,268 Genesis addresses being collected.
After the Genesis phase ended, each Genesis address was attributed 32,000 coins and since there are only 4,268 addresses, the total number of coins (Minereum) were set to 136,576,000.
This number of coins are the maximum number of Minereum coins that will ever be created, however, since the self-mining contract only allows for each Genesis address to mine 0.00032 Minereum (MNE) per Ethereum block, the total supply will only be reached in 47 years.
What sets Minereum apart from other cryptocurrencies
Minereum as a currency is different from other cryptocurrencies. While other cryptocurrencies require computer infrastructure, electricity and related investments to create new coins, Minereum can self-mine using the Ethereum Blockchain and the smart contract functionality that is built in there.
A Minereum representative tells us:
“Mineruem is the first self-mining smart contract. The mining process of Minereum is something never seen before. Instead of traditional mining, the availability of coins to each Genesis address will be calculated purely by a mathematical formula on the fly.”
Cointelegraph has learned from the Minereum team that, at the moment, the supply of Minereum is around 500,000. In an emailed communication, a Minereum representative commented about the inflation rate of the currency. “As a comparison example, Ethereum generates 5 ETH per block. Minereum in total generates 1.36576 MNE per block (0.00032 MNE * 4268 Genesis addresses), so Minereum has an inflation rate 72 percent lower than Ethereum.” The currency is currently trading on livecoin.net under the symbol MNE.
Ethereum Token Creation Service
The Minereum team is planning to launch a set of services that would be exclusive to the coin. In the coming week, the focus of the people behind Minereum would be on the launch of the Automatic Ethereum Token Creation Service. The Token Creation Service will allow anyone to create an ERC20 token with just a Minereum transaction.
A Minereum representative gave us more information about this service:
“All the MNEs received from purchases will be automatically destroyed and, therefore, taken out of circulation. After the Token Creation Service is live, we will start focusing on our next big service.”
This next service has not yet been announced publicly and was not initially part of our roadmap plans, however, after the Token Creation Service is live we will reveal more details. The service is intended to bring Minereum to the common people, rather than only to the crypto community. The Minereum forum and Twitter account will have updates when new services are released.
Minereum brings transparency and ease of access
Minereum’s unique selling point is its novel mining process. This process is based on the premise that there will be a totally fair and transparent distribution of coins, with everyone getting their fair share. The fee charged is based on Ethereum network transaction fee as Minereum is an Ethereum smart contract.
More technical information is available on the Minereum forum and in a white paper that they have released. It would be interesting to see how users adopt this new token and how the project develops from this point forward.
What are Smart Contracts
One of the best things about the blockchain is that, because it is a decentralized system that exists between all permitted parties, there’s no need to pay intermediaries (Middlemen) and it saves you time and conflict. Blockchains have their problems, but they are rated, undeniably, faster, cheaper, and more secure than traditional systems, which is why banks and governments are turning to them.
In 1994, Nick Szabo, a legal scholar, and cryptographer, realized that the decentralized ledger could be used for smart contracts, otherwise called self-executing contracts, blockchain contracts, or digital contracts. In this format, contracts could be converted to computer code, stored and replicated on the system and supervised by the network of computers that run the blockchain. This would also result in ledger feedback such as transferring money and receiving the product or service.
What are Smart Contracts?
Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.
The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligation