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Aug 29
alt coins and tokens

Coins, Alt Coins and Tokens Explained

By News & more No Comments

We all know altcoins and tokens have changed the world significantly. Blockchain continues to transform the industries and the world we live in. We are accustomed to using these terms daily, without thinking about what they actually mean. You can use the cryptos without knowing too much about how the technology behind them actually works. However, we should all be aware of the differences and similarities between the three most frequently used terms. This is crypto coins, altcoins and tokens explained.

Coins

A crypto coin is the first phenomenon we heard of when this digital revolution started. A coin is a digital currency possessing value. We can use it as a means of payment. Therefore, we can think of coins as physical currencies, only in a digital world.

Coins function on the blockchain with their own protocols.  The advantage of using coins is in their speed when it comes to transfers, as well as in security and anonymity.

Coins are divisible, which means we can divide them into smaller units of significant value. Crypto coins have either limited or constant supply. They are also fungible (we can exchange one unit of a coin for the same value of another coin). Above all, coins are borderless, and people use them worldwide.

Alt Coins

Altcoins are basically digital currencies that came after Bitcoin. Bitcoin was the first digital currency based on a decentralized network. One of the main features that was learned of at the time was immutability. Namely, with Bitcoin and its underlying technology – blockchain, came the recording of all details of each transaction. This made the process transparent and immutable (i.e. irreversible).

All coins issued after Bitcoin followed in its steps. We call them altcoins.  Ether and Ripple are the most noticeable examples.

The same as coins, altcoins are divisible, fungible and we use them worldwide. They can also be in limited supply or the number of unites can constantly be issued.

Tokens  

Tokens are a bit more abstract to comprehend. Altcoins and tokens share some similarities. Tokens are fungible, digital assets and we can use them as means of payment, but only in their own ecosystem.

Moreover, tokens are native to a certain project. Therefore, they have sort of a “right” to be used only within the boundaries of that project. Furthermore, a token enables its holder to participate in a network.

Tokens do not function on their own blockchain. They are “introduced” to another platform.

When we use tokens inside the project, we can refer to it as utility tokens. Otherwise, tokens can represent a share of a company. In cases like these, we can talk about security tokens.

Conclusion

To sum up, to all of the above mentioned we refer as cryptocurrencies. However, remember that a true cryptocurrency possesses the following features:

it is a unit of account, a store of value and a medium of exchange. We know that Bitcoin has all of these, as well as most of the coins that “walked in its shoes”. However, tokens are a bit different and are limited to a certain ecosystem. Always remember that you can buy a token with a coin, but not the vice versa.

 

Have you had any experience with tokens so far?

Jul 06
hottest cryptos

The Hottest Cryptos in 2019

By News & more No Comments

The list of the hottest cryptos to invest in 2019 should be tailored to every person’s needs. However, there are certain general characteristics which put a certain cryptocurrency above the rest. If we take a look at the not-so-known cryptos out there, we will find several that deserve our attention. In this post, we will reflect just a few of them and recall the well-known reliable cryptos.

Dash (DASH)

DASH is mainly talked about in terms of investing. Surprisingly, this cryptocurrency and its market capitalization have surpassed $2 billion. All this happened very quickly, having in mind that DASH was created in 2015.

Many people claim that its ability to provide safety and security puts it among the top cryptos in the market. Nowadays, DASH reaches approximately $100 million worth of transactions daily. The price of DASH is $158.67 at the moment of writing this text.

Binance Coin (BNB)

Everyone heard about Binance Exchange which positioned itself as one of the leading crypto exchanges today. However, we would like to draw your attention to Binance Coin.  BNB is reliable. Actually, it is among the thirty top cryptocurrencies in the market. Its market capitalization is approaching $5 billion. The price of BNB at the moment of writing this text is $32.54.

BNB is very liquid. The circulating supply is BNB 141,175,490.  The past records show that it tends to be quite stable. Additionally, the market has shown records of steady increase in unsteady times.

Bitcoin (BTC)

This is the most commented on and well-known cryptocurrency. It was primarily created with a vision to be a global, decentralized currency. Digital cash, if you wish.  Regardless of the fact BTC has experienced some ups and downs, the analysts still consider it to be one of the most reliable cryptos to both invest in and trade with. It is highly liquid. There are 17.8 million units in the market. The number of users interested in BTC is constantly high, so trading should not be a problem. The price of a BTC at the moment of writing this text is $11,749.10.  The price has a volatile history. However, the estimate is that in order to manipulate the price of a bitcoin, a person or a company would need to have extremely large resources at hand. Therefore, the chances are that fluctuations of BTC are solely related to the volume of the demand. Once the demand increases, the price goes up. Additionally, the supply is limited to 21 million coins.

Lastly, BTC has low inflation rates. As BTC is mined, there are block rewards in BTC that go to miners. Since every 210,000 blocks the reward halves, it means that in time inflation decreases.

bitcoin crypto online casino

Litecoin (LTC)

Litecoin is, many believe, one of the best cryptos ever designed. One of the reasons is because it is super-fast.  It uses Bitcoin’s source code and has faster confirmation times than other cryptos. If we compare it to Bitcoin, we will see that LTC’s blockchain can handle higher transaction volumes, due to more frequent block generation.

The predictions are that Litecoin network will produce 84 million Litecoins, which is a lot more than BTC units planned.

It is accessible globally, working as an open source on a decentralized peer-to-peer network.

The market cap is approximately $771.0 billion. The price of a Litecoin at the moment of writing of this text is $118.84.

Whatever your choice may be, the smartest advice we heard of is to keep investing in more than one cryptocurrency. The other smart advice would be to choose cryptos which are easy to store and secure at the same time, and to not be afraid to go for the more expensive ones.

Let us know about your experience with cryptos.

Jun 29
Beach rules

Beach Rules

By Lifestyle No Comments

It’s summer and many of us will take some time out to bask in the sun and forget about all our daily routines.  This is the time to indulge our senses and absorb the nature. In case you are spending your vacation at the seaside, there are unwritten rules to comply when on the beach. Here we go…

Know the Local Rules

Knowing the local rules is the number one priority of beach etiquette. By “knowing the local rules” we do not just mean “reading the signs”, although this is helpful as well. What we think is a smart thing to do is asking around and complying with the way locals see the swimming and sunbathing. When you take a trip to a foreign country and to a culture which differs greatly from your own, knowing the rules can save you from many inconveniences. For example, in some countries it is prohibited to show too much skin or to take photos. In others, it is forbidden to bathe in a swimsuit while enjoying on the nude beach. Additionally, there may be requirements regarding carrying a towel in case you are sitting in shared areas.

Also, rules change from time to time. For example, Spain was long considered one of the countries where nudity was not prohibited. Nevertheless, they now have the law against nudity and semi-nudity in the streets. Pay special attention if visiting Barcelona.

Furthermore, there are countries where it is forbidden to drink alcohol on the beach, especially in open containers.

Checking the visible signs is also a smart idea. Taking a plunge on a wild beach can be a wonderful experience. However, for your safety, it is always recommended to visit the designated areas for swimming. Also, make sure that you know the limitations regarding the swimming routes.

When checking the signs, pay special attention to whether there are signs allowing pets on the beach. Not everyone is keen to having someone’s pet mingling around.

Respect the View and the Sound of Nature

Everyone is there for some relaxing and finding piece. Although you may share the same preferences as the person right next to you, it is only fair to let him or her choose their own way to enjoy.

There is nothing more irritating than being forced to listen to the music you do not like, instead of, for example, listening to the sound of waves or seagulls. The same goes for being forced to look at someone’s tent in front of you instead of looking at the horizon. Therefore, do not do to others what you would not like others do to you.  Wear the earphones and make sure you take enough space for yourself, but to leave enough room for others as well.

Keep an Eye on Your Kids

Although this should go without saying, we have witnessed kids running wild too many times. Yes, the beach is fun, and it should serve as a relaxing spot. However, it is not a playground and it cannot replace the kindergarten. The same way your kids are enjoying the beach, the other visitors do the same. Respect that and make sure no one is treating your kid badly and no one is being treated badly by your kid. Keeping an eye on your children also keeps them safe.

Lastly, always remember that everyone comes to the beach to enjoy. This simple fact can get you a long way. It can be the first thing that you share in common with the person next to you. You can use it as the starting point for engaging in a conversation. It can also initiate good deeds. All visitors of a beach are put in the same context and weather conditions. They should, therefore, help each other out in possible cases of emergency.

Do you think everyone should mind their own business at the beach, not paying attention to what others are doing?

 

 

 

 

Jun 28
Tether Basics

Tether (USDT) Basics

By News & more No Comments

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 26
Blockchain and cryptos doing charity work

Blockchain and Cryptos Doing Charity Work

By News & more No Comments

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?