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Jul 15
Miami Dolphins will feature Litecoin

Miami Dolphins Will Feature Litecoin

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American football has signed on a new star. Namely, as of the 2019 season Miami Dolphins will feature Litecoin as the official cryptocurrency of the team. Thereupon, cryptos are steadily spreading in the real-world and are now entering stadiums. Hard Rock Stadium to be precise.

What’s in It for the Litecoin Foundation  

Litecoin Foundation has reportedly issued a statement claiming that the mentioned partnership will give them the opportunity to access one of the NFL’s “largest and most passionate fan bases”. Advertising to such an audience gives immense opportunities. Moreover, when paired with Miami Dolphins online properties and digital content, analysts confirm that Litecoin would most likely see gains.

Furthermore, The Litecoin Foundation explained that the main focus would be put on “home game attendees”. The Litecoin Foundation in co-operation with Aliant Payments and the Miami Dolphins will give them the opportunity to pay the tickets for the 50/50 raffle online with Litecoin and Bitcoin. The same tickets should be available at 14 kiosk stands at the Hard Rock Stadium. Additionally, half of the proceeds would go to the Miami Dolphins Foundation and its charitable causes.

By being visible to one of the largest fan bases in the USA, Litecoin will most likely become universally recognized. Furthermore, it does have a strong background of generating steady increase. Therefore, any wide acceptance would be justified.

Official Statements Issued on Both Sides

The creator of Litecoin, and the Managing Director of Litecoin Foundation, Charlie Lee explained:

“We’re thrilled to see Litecoin become the official cryptocurrency of the Miami Dolphins. This collaboration propels Litecoin in front of an audience of millions of people around the world at a time where adoption of cryptocurrencies continues to gain momentum and the ecosystem is able to support real world use cases in ways previously not possible. We see this as a powerful way to raise awareness and educate people about Litecoin and cryptocurrencies on a tremendous scale.”

This is not the first time that the Litecoin Foundation partners with sports organization. Namely, they previously teamed up with Ultimate Fighting Championship (UFC). The deal was to display the Litecoin logo in the fighting octagon during the fight involving former light heavyweight champion.

On the other hand, as true sportsmen, Miami Dolphins are all about promoting good cause. As per statements from their Vice President and Chief Information Officer, Kim Rometo, the Dolphins have always been trying to enhance the fan experience. Apparently, this partnership offers the great opportunity to mix sports enthusiasm and entertainment with good causes.

Recap of Litecoin Features

At the moment of writing of this text the price of a Litecoin (LTC) is approximately US$89.22. The market cap is above $5.5 billion. Litecoin was created in 2011. as the cryptocurrency which should offer the quickest confirmation times possible at the lowest fees.  Namely, LTC transaction fees are low to zero.

Litecoin is working as an open source on a decentralized peer-to-peer network. Litecoin is running on blockchain. Its blockchain can handle higher transaction volumes than the BTC one, due to more frequent block generation.

Litecoin has passed a long way since its inception. Nowadays, it is proven to be the standard in global payments. Being fast, secure and anonymous goes a long way in the crypto payments world.

The Litecoin Foundation, it is a non-profit organization developing and promoting Litecoin and blockchain technologies.

Jun 28
Tether Basics

Tether (USDT) Basics

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Tether has been one of the most commented cryptos for some time now. Without getting into the matter of why Tether platform has limited access in the US, let us present the Tether basics, as its very existence is obviously very important.

Tether (USDT) is a digital currency meant to be backed by US dollars in 1:1 ratio. The name itself is peculiar. It suggests that something has been “tethered” with. In this context, a crypto which is tethered or chained to the value of a US dollar. Therefore, USDT should have the same value as US$ in real time. Due to this feature, USDT was named a stablecoin. This reflects the fact it is a stable dollar substitute. Subsequently, USDT is not volatile, at least not in the sense some other cryptos are.

This concept of making stable substitute of national currencies have spread beyond borders. Therefore, we now have Tether backed by Japanese Yen, for example.

In general, USDT is very suitable for investors, for example. In case users move it between Tether wallets, there are no transaction costs. Furthermore, some financial experts believe that it is a cozy coin to cash out and cash in when there are difficult situations in the market.

Advantages of Tether

Tether is among 15 most popular currencies. It combines the best out of the two concepts: the digital and the fiat one. Following is a short list of pros for using Tether.

Transparency of Tether

This is a big plus. People who invest like to know exactly how much something will cost them and what they can expect to gain. The fact that USDT is pegged to a US dollar is enough of a guarantee that the digital token cannot fluctuate in value that much. Tether is, therefore, considered a reliable digital coin. Most importantly, the Tether Company provides the information about all USDT coins in the market. This promotes transparency and reliability.

Running on Bockchain

In general, people like familiar things. Tether is powered by bitcoin blockchain. This blockchain has proved itself as secure and very difficult to break. Consequently, Tether is in “safe hands”.

Similarity to Fiat Currency

Tether is a hybrid. Maybe it does not sound right, but it is actually its advantage.  The users can exchange the US$ directly for USDT or they can buy USDT by selling their BTC.  With other altcoins, the exchange platforms usually have requirements to first purchase either BTC or ETH and then trade it for USDT.

No fear of the market volatility

Because Tether is pegged to US$, its value can change as much as the value of US$ changes. This means, there are no big changes in its value. Above all, the trends can usually be predicted.

What is your opinion on stablecoins?

 

Jun 27
Stellar (XLM) Wallets

Stellar (XLM) Wallets

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If you are a beginner at exploring the crypto world, especially Stellar (XLM) wallets, you should know that crypto wallets are the digital wallets for storing your cryptos. All wallets come with safety measures, i.e. public and private keys, authentications, PIN codes and so on. Learning how to handle them is easy if you follow the instructions. However, in case you just wish to play and let someone else handle the technicalities, you can always use QBDirect.

Stellar network is an open-source, decentralized platform from where Stellar Lumens originates from. Stellar network provides for very fast cross-platform transactions with transaction fees below 1 cent. According to experts, XLM as the native currency to Stellar network, plays the role of anti-spam factor. It also facilitates the multi-currency transactions. Having said that, let us focus on Stellar Lumens (XLM) itself and the ways to store it.

XLM is among the top 10 cryptos when it comes to market capitalization. Potential users can buy it on Coinbase, among other exchange platforms. Once obtained, XLM should be kept safely in one of the offered wallets. There is a wide range of wallets in the offer. These are a few of the mostly used ones. We tried to compile their features to make the selection easier for you.

Foxlet

Foxlet is the Stellar Desktop Client. It is an open source Stellar Lumens desktop wallet. This means that it does not support any other cryptocurrencies. It functions on Windows, Mac and Linux operating systems.

What makes this wallet distinctive is that it allows for encrypting the XLM private key and storing it in the private computer. Depositing and withdrawing are also available options.

Ledger Nano S

Ledger Nano S is one of the most frequently used hardware wallets. It is popular for several reasons. It provides for storing not only XLM, but many other top cryptos, such as Bitcoin, Ethereum, Ripple, Litecoin, just to name a few. Ledger Nano S is cozy to use, as it comes in a form of a USB that can be plugged into any device. The USB features an OLED screen for checking the transaction details through a double-tap button. Finally, the most important reason for putting this wallet on our list is the amount of security it provides.

Ledger Nano S includes 2 factor authentications, a secured PIN code and a recovery seed accessibility.

Atomic Wallet

Atomic Wallet is the wallet which supports various currencies, such as Bitcoin, Bitcoin Cash, Bitcoin Cash SV, and nearly 300 other coins and tokens. This is a desktop wallet that can be used on Mac, Windows, Ubuntu, Fedora, Debian. The interface appears to be very user-friendly and easy to navigate.

Atomic wallet also provides security and anonymity.  Furthermore, it allows that the user controls the funds fully.

Stargazer

Stargazer is a popular wallet due to its availability for usage on both desktop and mobile devices. It is functioning smoothly on Windows, Mac OS X and Linux operating systems. Users also consider it to be one of the best XLM wallets for Android devices.

Stargazer provides for possibility of multiple accounts and assets. As per reviews, the interface is multilingual and easy to use, which facilitates for receiving and sending out XLM.

As for security, Stargazer offers setting up of federated addresses and relies on multi-signature security.

 

Let us know whether you find crypto wallets easy to use.

Jun 26
Blockchain and cryptos doing charity work

Blockchain and Cryptos Doing Charity Work

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Sometimes it is difficult to imagine blockchain and cryptos doing charity work. Philanthropic use of cryptos and modern technologies certainly has not been the primary reason why these concepts emerged. However, blockchain is constantly finding its applications in various fields. Philanthropy is just one of those applications that have found its roots. We just need to spread the word in order to get it widely accepted.

A Short Recap of Blockchain Concept

We wrote about how one of the main advantages of blockchain is to move the middleman out of the picture. Having just the two parties involved in any kind of a deal or business, reduces the costs and cutting through red tape. If we put this “no middle-man” business on a blockchain, the red tape is out of the picture as well. The data is secure, reliable, transparent and available within seconds. The question is how charity work fits into this plan?

Blockchain and Charity Work

The widely accepted premise when it comes to the value of money is that people who have earned it are more aware of its value. Therefore, they are more willing to share it, or to invest in into charity. The others, who wore born into wealth, do it mainly for certain tax reliefs. No matter whether we believe in the stated premise, the fact is that giving back to the community or a person in need is the purest human drive. The problem which most charities are facing is the lack of transparency.

Consequently, the money we donate cannot always be traced and people or companies that have donated resources or goods have no way of seeing whether their donation has reached the final beneficiary. Blockchain can help significantly in this matter. However, the reports show that this “new” technology is not so widely accepted by charity organizations. As you can see from the findings from TechTrust’s “Digital Survey 2018” report, 58% of charities among the 1,262 surveyed, do not have a digital strategy. This means that the majority of those charities have not developed plans about their online presence. They are also not planning to offer in-depth feedback about the funds they raised or to invest in IT training.

Paradoxically, the survey shows that 90% of charities have accounts on at least one social media platform. This shows that they are not lacking the basic knowledge. However, it appears that using the Internet structure is recommendable in raising the funds. When it comes to spending, the surveyed organizations apparently did not show the same enthusiasm.

Advantages Blockchain Can Bring to Charity Work

Most importantly, blockchain can cut the costs of international money transfers. An example is The World Food Program, part of the United Nations fighting hunger project. They claimed that by implementing blockchain, they managed to save around $150,000 a month on transaction fees.

By making things transparent and more reliable, charities can improve their image and build a stronger reputation. This can help them in the long run, in future fundraising.

Moving to blockchain can prove their work is sustainable. If donors receive feedback on how their money had been spent, charities will build stronger relationships with their donors. Subsequently, blockchain can trace the roots of a charity mission. Charity work is sustainable if it is well planned in advance, organized and well thought through.

The charity organization is doing sustainable work if it understands the needs of its beneficiaries and knows how to provide. Blockchain offers help in this segment as well. It secures instant exchange of data and funds.

Challenges of Implementing Blockchain to Charity Work

Reportedly, bitcoin is the leading cryptocurrency used in charity donation. However, vast majority of web sites are still not accepting donations in bitcoin. In spite of this fact, the donations in cryptos have exceeded $100 million a year.

The reports show that volatility of cryptos is the main reason for charities to avoid  bitcoin. However, foreign currencies also fluctuate and are non-the-less accepted regularly.

When thinking about challenges and cons of accepting cryptos for charity donations, we should recall the staggering amount of more than $400 billion dollars given away for charity per year and compare it with more than $300 billion in cryptos circulating globally. The potential is immense.

Do you think that cryptos can make this world a better place?

 

 

 

Jun 25
Stellar Lumens (XLM)

Stellar Lumens (XLM)

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One of the stars in the crypto sky is Stellar Lumens (XLM). The home of the Stellar Lumens (XLM) is the Stellar network. This is the network on which XLM was built and where it acts as an asset.

Stellar Network and Stellar Lumens Overview

The Stellar network is an open-source, distributed network. It was developed in order to connect payments systems, banks and individuals. Stellar network is also owned by the community. The main focus of Stellar network is facilitating cross-asset transfers.

This means that it enables users to trade across platforms, as well as to do microtransactions. The stellar network is also on a mission to provide everyone with significantly low-cost financial services at maximum speed.

In order to transfer the assets across platforms and to send the money to anyone in a different currency, a user would need to use Stellar Lumens (XLM). It is the official intermediary currency of Stellar network.

Stellar.org is the non-profit organization behind the Stellar network. The network itself was founded in 2014 by the co-founder of Ripple, Jed McCaleb.

The Easiest Way to Buy XLM

Buying cryptos on Coinbase is the easiest way to get your XLM. First, a user must obtain Bitcoin or Ether and then use these currencies to buy XLM. Once a user opens the account on Coinbase there should be a deposit section with a list of selection of coins or tokens to deposit. Choosing either BTC or ETH is the first step in buying an XLM.

The Speed of XLM

As stated above, Stellar Lumens is really fast, as the creators were aiming for speed to be one of the two main advantages of XLM. Therefore, the transaction speed is approximately between 2 and 4 seconds. The other advantage, the transaction cost, is less than 1 cent.

Overview of Advantages of Stellar Network and of Using XLM

People often compare Stellar Lumens  to either Ripple  or Ether. Possibly because of the many similar features. However, no two digital currencies are exactly the same. Therefore, Stellar Lumens has certain advantages. Here they are:

  • Stellar network functions as a blockchain application development platform. This means that this network can serve as a generator of decentralized Apps.
  • Using the Stellar blockchain, new cryptocurrencies can be created – the same as with Ethereum.
  • Stellar is considered to be a rival to Ethereum, due to the fact that initial coin offerings can run on Stellar blockchain. Rivalry and competition in general can be a driving force for advancement and improvement.
  • Stellar network is extremely fast. This provides for no delays and instant transactions.
  • The transaction fees are unbelievably low and cost less than a cent.
  • Transaction gets verified by decentralized servers. This means that there are no miners competing against each other. All this creates no possibility for delays or high transaction costs.
  • Initial Coin Offerings (ICO) are less expensive and faster, enabling businesses to run ICOs on their network, increasing the demand and value of XLM.

 

Do you have any experience with XLM? Tell us about it.