What is Ethash?

What is Ethash?

Isn’t it crazy how cryptocurrencies have only been around for about a decade

yet we have hundreds of cryptocurrency terminologies? Being a crypto-enthusiast myself, I know how difficult it can be to keep up with all the new terminologies. So maybe you have come across this term before and you would like to understand it further. Come with me as I explain Ethash to the best of my ability.

So what is Ethash algorithm?

Ethash is a proof-of-work (PoW) mining algorithm that is implemented by the Ethereum network and other Ethereum-based cryptocurrencies. Each Ethash GPU miner requires 1+ GB of RAM. Proof of work mining secures distributed networks and processes blocks of transactions on the blockchain. It involves taking data from a block and then repeatedly hashing that data using a cryptographic hashing algorithm. The result is an output of fixed length that represents the hash value. Miners end up with several variations of the data input. So in the case of Ethereum, the algorithm used for this process is Ethash. Ethash was developed as an upgrade of its predecessor called Dagger-Hashimoto to remove computational overhead.

The Ethash algorithm is used to dynamically adjust the mining difficulty of the blockchain that implements it. It does this by determining roughly how much computational resources should be spent for a miner to find the nonce that allows them to propose a new block to add to the blockchain. This algorithm follows a route in which a seed can be computed for each block by scanning through the block headers. This route can compute a 16 MB pseudocode cache which is then stored by light clients. Eventually, the cache is generated into a 1 GB dataset and stored by miners and full clients. The dataset progresses linearly over time while being verified until it is updated. Large datasets are updated once every 30,000 blocks. The details of an Ethash cache and datasets are determined by the block number, which is that the cache and dataset sizes grow linearly.

ASIC miner controversy

Ethash was designed to be ASIC-resistant and efficiently verifiable by a light client. What that means, is that Ethash was developed with a strong focus on the protection from ASIC miners. ASIC stands for Application-Specific Integrated Circuits. Unfortunately, the outstanding popularity of Ethereum led to an increased interest of ASIC developers in manufacturing Ethash compatible miners. In 2018 the first ASIC Ethash miners for Ethash (the ASIC-resistant) were announced by Bitmain. However, the Ethereum project community opposed this move strongly, due to fear of over-influence from Bitmain. As a result, discussions to brick the devices force ASUC miners into hard-mode mining, or to expedite the development and eventual release of Casper. Such inconsiderate proposals finally made ASIC miners conceal their presence and lower the cashing power of their devices. Lastly, the Ethereum plan to switch from Proof-of-work to proof-of-stake hybrid makes ASIC Ethash development a very risky investment.

Even though Vitalik Buterin, the co-founder of Ethereum does not consider ASIC miners to be a threat to Ethereum, there are plans to change the operation mode very soon. On a future hard fork yet to be released, ETH will produce all new blocks with a PoS through a separate design of Casper called Casper the Friendly GHOST or Casper Correct-By-construction. In a nutshell, Ethash has been made ASIC-resistant to make the mining process open. And the implementation of a Proof-of-Stake structure will make the Ethereum mining obsolete.

Ethash Mining

Ethash mining can be conducted using the CPU and the GPU. Note that Ethash-based cryptocurrencies differ in their demands on the mining. Below is an illustration of Ethereum, being the most popular of Ethash implementations. The first thing you need to be able to start mining ETH is a fully synched cryptocurrency client that is enabled for mining and at least one ETH account. You could also need a wallet or an account in a specific network depending on the cryptocurrency.

CPU mining

This option is no longer profitable because GPU mining is two times more efficient. However, it is still good for first-time mining attempts or when you intend to mine a small number of coins to power smart contracts. Ethereum CPU mining is performed with an Ethereum client called geth which is a program that connects the ETH network with the gear of the miner. The coins which are mined are sent directly to the miners’ Coinbase address within a network.

GPU mining

This happens to be the best possible option for Ethash, Ethash being memory-hard and needing at least 1-2 GB of RAM on each GPU used. There are two types of GPU mining which are AMD GPUs and NVidia GPUs. To start GPU mining, you first need to download Ethminer which is an Ethash miner suitable for every Ethash-based crypto. There are several forms of Ethminer available e.g. CLI, GUI, and Ethminer.

Pool mining

This is another available option, and it is applicable for most Ethash cryptocurrencies. Pools often require miners to pay some fees around 1% – 2% of the income. It is the best mining option when you have mediocre gear.

Ethash Coins

The most popular Ethash-based Blockchain is the Ethereum network. Ethash was developed by the Ethereum foundation purposely to build its network. The very first blockchain was forked after the Dao was hacked due to its smart contract-related vulnerability. This split the project up in two different blockchains with their cryptocurrencies, Ethereum (ETH) and Ethereum Classic (ETC). Ethereum classic is no longer under the development of the original Ethereum team. ETH is the main platform for creating tokens and decentralized-applications with their cryptocurrencies. Here are some of the independent cryptocurrencies with their Ethash-based blockchain with minable crypto according to CoinGuides.

  • Metaverse (ETP)
  • Expanse (EXP)
  • Musicoin (MUSIC)
  • Ellaism (ELLA)

Ethash mining calculator

A mining profitability calculator helps you to find the cryptocurrency versus traditional currency e.g. the USD return depending on your hash rate, electricity cost, and power consumption. You can know just how profitable the mining of specific cryptocurrencies is. In very few steps you can understand the potential earnings of your hardware. A good profitability mining calculator has either a GPU coin or ASIC coin miner.

I understand that as a new trader you may find it difficult to know which calculator is the best for you. I mean when you search for ‘best profitability calculator’ on google, you are going to end up with tens or even hundreds of options. My recommendation would be Minerstat, which is a crypto mining monitoring and management platform for ASICs, GPUs as well as FPGAs. The Minerstat calculator has a very friendly user interface, you enter your power consumption details, your currency version, your hash rate, and electricity cost and just like that you can know your reward calculation which is computed within less than a second.

Just don’t forget that results from the mining calculator are and estimation strongly based on the current difficulty, block reward and exchange rate for the particular coin of interest. Therefore, ensure that you conduct enough research before invest because errors do occur and your investment decisions should never be based solely on the results of a profitability calculator.

How do you mine Ethash? 

Mining ethash is a pretty simple process. And even can you do it with your own computer. First of all, there are to ways that you can do it. The first would be to mine Ethereum (ETH) only, which can be mined with your GPU:

Step 1 – Make sure your GPU has its drivers up to date
Step 2 – Get an Ethereum (ETH) wallet ( Metamask recommended)
Step 3 – Join an Ethereum mining pool and start mining

From here, you need to check that your wallet address is correct and see how much you mine daily. Usually, with a good GPU, you can earn between $2 and $6 per day in revenue. But if you wanna mine more than Ethereum, there are certain miners that can help you mine easily with a software. The process is fairly easy and we’ll present it below

Step 1 – Do a bit of research about the best miners out there. ( You can check out more in our article here)
Step 2 – Install the required software and configure it with your digital address ( Attention: some miners would pay you in BTC which you can convert afterwards in ETH or other cryptocurrency that you want. Make sure you put up a correct address )
Step 3 – You’re all set! Now you can check what is your mining power, your profit per day and test alternatives to find the best paying one. Also, make sure your GPU doesn’t overheat

Article Produced By
Zerocrypted

https://zerocrypted.com/what-is-ethash/

Heiko Closhen, Entrepreneur

The Technology used for the Digital Currency

A currency that does not have a mediating institution like governments or banks is completely free.

As a result, a government cannot stimulate its inflation, for example, by “printing” more bills. For this reason, the market itself with its supply and demand law will dictate the dynamics of Bitcoin.The lack of mediation on the part of a financial institution also reduces the values ​​for transactions and speeds up the speed of the procedures.You spend on transport to the bank and in addition to the time spent on transportation Currently online transactions require mediation from financial institutions, with Bitcoin the process will be as simple when buying a product with a banknote in a physical store: Imagine buying a shirt for R $ 50.00 at a physical store: you hand over a ballot with that amount, withdraw your product without the need for a bank to mediate the purchase. Likewise, it is the virtual transaction with cryptocurrency, that’s why it has become more popular; it is cheap and fast because it is P2P.

Bitcoin blockchain and way to use it

Just as a Real note has protection technologies, virtual money must also have it. Real’s new banknotes have holographic stripes, high relief, fluorescent elements, security wire, watermark, puzzle, microprints and a hidden number; it’s a lot of technology to prevent counterfeiting isn’t it!? Likewise, so that virtual money is not cloned, it is protected by a set of principles and techniques called cryptography. Cryptography: it is a set of techniques that aim to encrypt information so that it can only be read by those who know the code, ensuring the security of the information. To make a metaphor, it would be like sending a locked chest to a friend by means of a messenger: he will take the chest to the other person, but he cannot open it, only his friend who has the key will be able to see what is inside. Use bitcoin-up.live for the all kind of the bitcoin trading needs.

Why does Bitcoin use the P2P system?

Bitcoin is an online currency with P2P (peer to peer) payment traffic, meaning that it does not need a central intermediary server. What is the advantage of this? Think of traditional financial transactions In addition, the data related to the transactions are stored until they can be validated by the so-called miners and this process happens in a transparent way: the code is free, so it is possible for anyone to access the information to check its validity. In the digital environment, data can be copied, changed and exchanged. The blockchain was the solution to eliminate the first two characteristics: a person cannot spend 1 BTC twice or say that he sent you 10 BTC but transfer only 0.01 BTC Essentially, the hash takes a large amount of data and turns it into a small amount of information. It is the “fingerprint” of some file, or, in the case of the blockchain, of a block. In this chained block system, this fingerprint is essential.

The hash will sign the contents of the block; if any information is changed, the hash changes. When you generate a new block that also contains the hash of the previous one, it creates a kind of seal: it is possible to check and signal if any block has been altered, to then invalidate it. So P2P (peer to peer) system used in bitcoin make it easy to do transactions. Each blockchain network also has “nodes”, which group participants who have the same interest; in bitcoin, it’s transferring money. These nodes can be either transactional, which write or generate blocks, or miners, who check whether the written block is valid. The computational process required for mining actually involves adding hardware that continually and The blockchain is so secure by a proof of work consensus (PoW) mechanism that uses processing power to solve very complicated mathematical calculations to ensure that the block’s cryptographic hash is valid. When someone solves the operation and manages to validate the block, he receives a reward – the other people in the network can also confirm that the result is correct.

Article Produced By
Zerocrypted

https://zerocrypted.com/the-technology-used-for-the-digital-currency/

Heiko Closhen, Entrepreneur

Gemini vs Coinbase which one is better?

Gemini vs Coinbase – which one is better?

Gemini vs Coinbase – which one is better?

According to a recent report, cryptocurrency searches have almost tripled over the last six months. This is in light of the current COVID-19 pandemic which has brought the world to its knees. People are fully aware that the ongoing crisis is going to adversely affect the economy hence they are looking for a haven to store their wealth. Normally they would turn to gold, but as they say “cryptocurrencies are the new gold.” This leads us to the next very critical question; what is a cryptocurrency? I would like to believe that most of my readers have come across this term before because cryptocurrencies have been making headlines and grabbing so much attention lately. However, for those who have never heard of this term before, you have so much catching up to do; but don’t you worry because I’ve got you covered.

Cryptocurrencies are digital coins whose operation is exclusively online.

Most of them do not have a physical representation. Also, they have the same uses as the fiat money we are accustomed to. Some common cryptocurrencies include Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Monero. One of the many ways in which cryptocurrencies differ from traditional money is in the way that they are acquired. While traditional money is distributed by central banks, cryptocurrencies are bought from online exchanges. As a beginner in crypto, you need an exchange that is user-friendly and available in your country. Very many people want to embark on their cryptocurrency journey but do not know just where to start. Today there are very many exchanges to choose from; Gemini and Coinbase are two of the biggest and most trusted exchanges out here. The following “Gemini vs Coinbase” review explores the two exchanges in such a way that you will be able to make an informed decision about which one suits you best

Gemini vs Coinbase: what is Gemini?

Gemini is a well-respected cryptocurrency exchange which was founded in 2015. Its mane is a reference to the zodiac sign that depicts a pair of twins which is quite clever because it is the brainchild of the Winklevoss twins. Its creators are two of the earliest investors in Bitcoin. With its headquarters in New York and strict compliance with existing regulation; the exchange has quickly become a favorite among high-volume investors and institutional traders. One of its outstanding features is that it offers extra security to its users, unlike most other exchanges. This exchange is all-rounded; it allows its users to purchase cryptocurrencies using fiat money which is not the case for many exchanges. It also offers an “on and off-ramp” to cryptocurrency making it a direct competitor with the likes of CEX.io, Kraken, and Bitstamp. It also offers users a lot of extra security features that are lacking in many exchanges.

Distinctive Features

  • Has highly respected staples of the cryptocurrency industry
  • Offers both bank and wire deposit options
  • Responsive customer support
  • Allows both cryptocurrency and fiat money withdrawals
  • Offers advanced trading options in the form of different kinds of buy and sell orders
  • Within the US, it accepts deposits made using Automated Clearing House (ACH)
  • Gemini supported states include Hong Kong, Puerto Rico, South Korea, Canada, and the US
  • Accepts both cryptocurrency and fiat money
  • Offline storage of cryptocurrency and fiat money to protect from hacking

Coinbase Vs Gemini: what is Coinbase?

Coinbase is arguably the most popular digital currency globally. Its headquarters are currently in San Francisco, California and it was established by Fred Ehrsam and Brian Armstrong in 2011. Coinbase is user-friendly and easy to maneuver as compared to other exchanges. It also offers various options for buying and purchasing different digital assets. Most cryptocurrency exchanges are advanced with sophisticated buying and selling options such as ‘limit orders’ and ‘market orders’. It is the absence of these sophisticated features that make Coinbase well suited for beginners. Once you get accustomed to the exchange you can then progress to GDAX which is a more advanced platform that is associated with Coinbase.

Distinctive features

  • Available in over 100+ countries including USA, UK, Canada, Singapore, and Australia
  • It offers very responsive customer support
  • Deals with both cryptocurrency and fiat money
  • Offers simplified instant buying options
  • Bitcoin Cash and Litecoin are available
  • Both the money and cryptocurrency are stored offline for protection from hacking

Gemini vs Coinbase: How is Gemini better than Coinbase?

  1. Better security

First of all, both exchanges take their customers’ protection very seriously and have additional security measures in place. They both separate the users’ money from the money which they use to operate. And also enforce the two-factor authentication which decreases the likelihood of an account being hacked or phished. Those are just a few of the security measures that both exchanges have put in place.

Gemini however, takes some extreme measures to secure its customers’ funds. They have secured the few digital assets that are stored online in a hot wallet using Amazon Web Services which high level of security controls. Also, only high-level employees can access the coins stored on hot wallets not to mention the hot wallets are accessed through multi-factor authentication (more advanced than two-factor authentication). They use two-level cold storage whose access to cold storage requires the simultaneous actions of more than one employee, thus increasing security. Both hot and cold wallet keys are secured on hardware that has passed a high level of security checks. Lastly, security hardware comes from different manufacturers to prevent supply-chain issues. These extreme measures could be the reason why it was picked by the Chicago Board Options Exchange to settle its Bitcoin futures in 2017. Its high-security precautions make it a better alternative for professional traders who store large volumes of cryptocurrency. However, be advised that exchanges are not suitable for long term storage.

2. Lower fees

Gemini outperforms Coinbase when it comes to fees; they are your best bet to save as much as possible on fees. It does not charge fees for deposits or withdrawals and it only charges a 0.25% or even less fee for trading. Coinbase on the other hand charges around 1.49% for bank transfers and purchases and 3.99% for credit/debit card purchases. Thanks to their very low fees, Gemini is the best alternative for high-volume traders. Most professional traders feel that Coinbase eats a very huge chunk of their profits.

Coinbase vs Gemini: How is Coinbase better than Gemini?

  1. User-friendliness

Coinbase certainly beats Gemini when it comes to user-friendliness. Their website is not only easy to maneuver but also quite responsive. They offer an immediate option for buying and selling digital coins. You can signup, make a deposit into the site and successfully buy your first cryptocurrency in just a matter of seconds. Although the registration at both Gemini and Coinbase is pretty much alike, Coinbase is much easier for a beginner to maneuver. There are no confusing terms, you just log in and conduct your transactions. Gemini is friendlier for experienced traders because it has more advanced features; it offers a clutter-free interface, clean and the options are set out. However, for an absolute beginner, Coinbase is the charm.

  1. Higher trade volumes

Most new users make their first few purchases using Coinbase because it is very user friendly; it is therefore not surprising that the exchange trades more coins than Gemini. For instance, in 5 months. Coinbase can trade over 5.20 BTC while Gemini only trades 1.7 BTC.

  1. Coin availability

While both platforms offer a small variety of cryptocurrencies, Coinbase has a better coin availability than Gemini. They provide Bitcoin, Ethereum, Litecoin, and Bitcoin Cash; while Gemini provides Bitcoin and Ethereum only. This makes Coinbase a better option for traders who prefer to deal with a wider variety of coins.

  1. Extensive deposit methods

Coinbase and Gemini both have different ways of funding their customers’ accounts. However, Coinbase offers more extensive deposit methods; their customers can buy their digital coins using a debit card, a credit card or a bank transfer. While Gemini only offers the bank transfer option. Cryptocurrency deposits are welcome for the specific cryptocurrencies supported by either exchange. Withdrawals follow the same deposit methods for either exchange.

  1. Offers higher purchasing limits

Coinbase does not give any clear limits on new customers; instead, these limits are dictated by factors such as account verification, buying history and account age. The customer’s limit is shown on his/her account’s verification page. Bank transfer limits can reach up to $5,000 per week while credit card limits can go up to $60 per week. Gemini, on the other hand, has predefined bank transfers purchasing limits of $ 500 per day. Therefore, Coinbase is your better option if you are looking to immediately lock in a price higher than $500. Lastly, both Gemini and Coinbase offer wire transfers for those users looking to deposit larger sums; though prior direct communication with them is mandatory.

Conclusion

There you have it! Our complete guide of Gemini vs Coinbase. I hope that helped in distinguishing between the two exchanges. Coinbase is recommended for beginners; despite its high fees the convenience and user-friendliness are commendable. It is also the best option for you if you want to use a credit card. Gemini, on the other hand, is best for experienced traders, those who want to take their trading to another level. It is also a great option when it comes to saving on fees. With both sites being trustworthy, secure and very responsive to their customers; the winner of the Gemini vs Coinbase battle boils down to the user’s needs and preferences. What do you think? Which one is better? Is it Gemini or is it Coinbase?

Article Produced By
Zerocrypted

https://zerocrypted.com/gemini-vs-coinbase-which-one-is-better/

Heiko Closhen, Entrepreneur

Are you a member of LinkedIn?

Are you a member of LinkedIn? If you don’t have a LinkedIn account yet, I suggest you set one up. The numbers tell the story when it comes to LinkedIn, as you can see below.

For those who are LinkedIn members, let me ask you a question. How often have you been invited to join a group by a group administrator? I imagine the answer is never.

Starting your own LinkedIn group is a great method to invite people to Markethive. In just the last month, I started a LinkedIn group, and I have nearly 200 members, many of whom have signed up into Markethive. You can do this with a free account, no problem.

Now LinkedIn has removed the restriction on sending messages to group members of groups to which you belong. You can send 200-300 messages a day to gain new Markethive affiliates. Not since 2105 has LinkedIn been so good for marketers.

Here is the link to the group on LinkedIn: https://www.linkedin.com/groups/12308041/

Please visit my LinkedIn group here in Markethive to learn more about LinkedIn Marketing. https://markethive.com/group/linkedin

Join Linkedin here

Theta Cryptocurrency Has Surged Far More than BTC

Theta Cryptocurrency Has Surged Far More than BTC

Bitcoin has been on fire lately, but there are other smaller currencies that are virtually on fire, one being Theta.

Theta Is Growing Like No Other Coin

The digital currency industry is full of small coins that very few people have heard of. One – called Theta – has jumped by more than 1,000 percent since reaching new lows in early March. The currency is leading a bullish wave that appears to be making its way through all corners of the cryptocurrency space. 1,000 percent is quite huge, especially when put in perspective against the bullish jumps incurred by other currencies. Bitcoin, for example, has shot up by only 120 percent since March, suggesting the younger, smaller altcoin has exuded more power in many ways.

The jump follows news that the coin’s creator, Theta Labs, has entered a partnership with search engine giant Google, which could be announced as early as today. Theta is widely referred to as a “decentralized streaming video protocol.” It’s partnership with Google will undoubtedly put it in line with YouTube, which Google owns. Theta is slated to offer its users the chance to provide bandwidth and computing resources to outside parties for digital rewards. No doubt the currency has been on a roll these past few months. Theta has also joined hands with Samsung Galaxy to bring Theta.tv to its mobile devices. Samsung announced that it would be adding the application to roughly 75 million devices, while many future phones will come with the app already programmed into them. Theta Labs co-founder and chief executive Mitch Liu commented on the partnership with Samsung,

explaining:

Our groundbreaking approach to streaming is a perfect fit for Samsung’s worldwide user base. It’s a huge step toward our goal of making Theta a global infrastructure for video content and data delivery.

Theta is joined by several altcoins on the bull train. One of the most recent assets to experience several jumps include OmiseGO, which has since surged by roughly 230 percent, nearly double that of bitcoin. The currency was added to Coinbase’s trading platform, allowing users to sell, buy and exchange the asset like they would Ethereum, bitcoin cash, or any other currency that’s available through the U.S.-based company. Coinbase has stated that it is constantly being asked by clients to add more coins to its growing roster of digital offerings.

Are Smaller Coins Trying to Distance Themselves?

Some analysts believe that the heavy jumps many of these smaller cryptocurrencies have exhibited over the past few months suggest they are trying hard to separate themselves from the market. Executives at Luno – a U.K.-based bitcoin and crypto trading platform – explained in a note

to clients:

The small caps index is now up more than 15 percent so far in May, while the other indexes are struggling to even be in the green this month.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/theta-cryptocurrency-has-surged-far-more-than-btc/

Heiko Closhen, Entrepreneur

Canadian Crypto Companies Now Provide Insurance on Digital Deposits

Canadian Crypto Companies Now Provide Insurance on Digital Deposits

Two bitcoin-based companies in Canada, Bitbuy and Knox, are working together to offer clients full insurance on all their deposits.

Knox and Bitbuy Join Hands Over Insurance

Lagging insurance protocols have brought the cryptocurrency space down for years. This could arguably be why so many institutional players and others have been reluctant to get involved in digital currency trading. While these assets are prone to volatility, the space has also been very vulnerable to theft and cyberattacks. Many times, large examples of theft make their way into the space, thereby resulting in millions of digital dollars lost forever. The bad thing about this isn’t just the fact that the money was taken. It’s that many exchanges, being decentralized and unrecognized by financially governing authorities, cannot and do not offer any form of insurance on the deposits made. Thus, whatever money is gone is usually gone for good. Bitbuy and Knox are looking to change that. Both companies met in 2018 at a Toronto conference. Adam Goldman – founder and president of Bitbuy –

explained in an interview:

Our two companies are strongly aligned on the direction of the industry, including consumer protection and regulatory advancements. Our partnership is the result of a collective commitment towards establishing a transparent framework for safekeeping client assets.

Knox is working with its respective insurance broker Marsh to provide both theft and technical insurance for any customer that happens to lose funds due to outside parties or forces. CEO Alex Daskalov is hoping that this maneuver will help to propel bitcoin and the cryptocurrency space deeper into mainstream territory, and he believes other companies will strive to follow in both Knox and Bitbuy’s footsteps.

He states:

It is difficult for a customer to engage technical due diligence on an exchange, and we have always believed that systems should be vetted by competent third parties so that customers have a ready source of safety signals. For that, we believe that Bitbuy succeeding in becoming the first exchange to hold bitcoin in a comprehensively insured setting is a major step up for both the Canadian and global exchange space.

Bitbuy and Knox are continuing a trend in the crypto space that is still relatively new. Very few crypto-delving companies offer insurance relating to digital assets, though there are some out there. Some of the names that come to mind include Chubb, XL Catlin, and Mitsui Sumitomo. They offer these services to customers seeking to store digital currency on associated changes.

Paving the Way for a Safer Future

Still, crypto coverage via insurance is not “the norm,” and Dean Skurka – head of finance and compliance at Bitbuy – is hoping this will change over time.

He says:

Industry standards and consensus best practices are integral while regulators evaluate their jurisdictional claim over our industry. Two Canadian companies coming together to help establish these standards represents a big step forward.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/bitbuy-and-knox-to-offer-insurance-coverage-on-crypto-deposits/

Heiko Closhen, Entrepreneur

How Do You Turn a Profit With Your Available Coins?

How Do You Turn a Profit With Your Available Coins?

 

Most importantly, you can earn money by saving your cryptocurrency in your online account.
The best part of this Locacoins service is that it is automated.

Earning on Savings

Since the services are automated, a huge number of users across the planet can access the services. The daily transactions exceed the reserves available by far. As a result, clients have a chance to transfer their funds using exchange operations. More people have trusted the service and utilized the functionality, which eases the exchange operations.

Expected Returns

You can expect to see amazing returns here. For example, an average of 5 to 6 exchanges per day is guaranteed by the service. Moreover, the average rate of commission used on exchanges is 1%. The best part is that Locacoins shares half its commission, giving the clients a chance to gain between 2% and 3% each day. You may join the rest of the people making money by deciding to join Locacoins services. You may send, receive, exchange, and store funds to increase your earnings and expand your cryptocurrency reserves.

Article Produced By
Bitcoin News

https://www.livebitcoinnews.com/how-do-you-turn-a-profit-with-your-available-coins/

Heiko Closhen, Entrepreneur

Could Visa’s Planned Digital Fiat Currency’ Spark the Emergence of Crypto-Fiat Hybrids?

Could Visa’s Planned ‘Digital Fiat Currency’ Spark the Emergence of Crypto-Fiat Hybrids?

As the benefits of blockchain become increasingly apparent to central banks and institutions around the globe,

mainstream financial actors are looking at ways to merge their traditional practices with crypto technologies. Such was the case earlier this month when the payments giant Visa announced it had filed a patent for a new ‘digital fiat currency’ that would exploit the benefits of blockchain whilst still be backed by traditional fiat currencies, namely American dollars. According to Visa’s CEO, the hoped-for currency would benefit from faster transaction times, greater transparency, and volume control. At the same time, the currency would avoid cryptocurrency hazards such as volatility and lack of regulatory oversight by being backed by traditional fiat currencies.

Should Visa’s plan take off, it could very well represent a turning point in the future of money, offering a bridge between fiat and crypto that could benefit millions of users around the world. Such plans are likely to gather an increased sense of urgency in light of the ongoing COVID-19 financial crisis, which has sent currencies around the world into historic levels of volatility. One of the most notable financial developments in the recent crisis, has been the haemorrhaging value of emerging market fiat currencies, with the Mexican Peso, Brazilian Real, and South African Rand all losing more than 20% of their value against the dollar since February. As this comprehensive guide to Forex trading explains, the value of currency pairs on global trading markets is intensely vulnerable to global news events. As mounting fears of a protracted recession grew earlier in the year, emerging market currencies took a huge hit as investors piled into the ‘safe haven’ currency of the US dollar.

This, in turn, makes borrowing, commodity trading, and debt servicing more expensive for emerging economies, as all of these activities are typically done in dollars. The result, as we have seen, is a vicious cycle which depreciates the value of these currencies further. Compare and contrast this with the performance of cryptocurrencies since the onset of the current crisis. Heavy hitters such as bitcoin took an initial, albeit more modest hit to their value at first, before rebounding to the point where their price has stabilized to pre-crisis levels. This development highlights how the structure and nature of cryptocurrencies can prove beneficial and preferable to fiat in times of crisis, something that Visa will likely attempt to capitalize on with their planned hybrid currency.

For one, the use of currency attached to a digital blockchain ledger has been proven to increase financial participation in emerging markets, ensuring easier access to the cash and credit that people need in times of turmoil. In addition, the instant transfer capabilities of digital currencies could help developing economies overcome the hurdles associated with limited access to much-needed, stable American dollars. With a hybrid e-currency that is pegged to the USD, emerging economies could avoid the ‘vicious cycle’ that compounds economic woes during global crises.Of course, whether such options will materialize depends on how successful initiatives like Visa’s turn out to be. Watch this space to find out. 

Article Produced By
Coinpedia Staff

This is an official account of Coinpedia.org, used to publish guest posts including Press releases and other related news. It is also used to update information on wallet, tools and DEX.

https://coinpedia.org/news/visas-planned-digital-fiat-currency/

Heiko Closhen, Entrepreneur

Blockchain in China could be explored in diverse fields as many sense the necessity

Blockchain in China could be explored in diverse fields as many sense the necessity

The Chinese People’s Political Consultative Conference(CPPCC),

the advisory body of the Republic of China, recently emphasized the need for the adoption of the blockchain technology in various sectors in the country. China is one of the countries to be recognized as one of the fast countries to adopt blockchain technology and implement it in various streams.

Need for Blockchain in Fresh Areas

The potential of the blockchain went recognised and the possible applications in all sectors were been analysed. The unique features of the blockchain attract various use cases. The representative of the National People’s Congress, Qian Fangli, stated the possible use of blockchain in risk control management. He said, “Make full use of blockchain to establish an intelligent risk control model.” The member of CPPCC, Cheng Jing also triggered the need of the blockchain in the manufacturing platforms so that they could be upgraded and transformed. The Jiangsu province of China which is known for its intelligent transport system has formulated 8 special action plans around blockchain including other contents.

New Blockchain uses in the Financial Sector

The financial sector is one of the main recipients of the blockchain technology and every day a new way of applying blockchain emerges. Chengdu University of Electronic Technology and Chengdu Jiaozi Financial Holding Group established Jiaozi Financial Holding Blockchain Research Institue.On the other hand, Intel and Ant Blockchain joined hands to use the blockchain to provide credit enhancement for leasing companies. One of the city, Suzhou is the first country to record a ‘blockchain + notary’ administrative law enforcement process record mode.

‘Promote Blockchain in Healthcare’ – National People’s Congress

The representative of National People’s Congress, Zhou Songbo emphasising the importance of blockchain adaption in healthcare sector said, “Promote the integrated application of emerging technologies such as blockchain in the medical system.” Blockchain can also be used to enable all the doctors to achieve identity authentication as specified by CPPCC committee member, Fang Laiying. Other developments in the blockchain space in China include two new moves,

  • Ningbo, a major port and industrial hub in east China’s Zhejiang province issued “Ningbo City Three-Year Action Plan to Accelerate the Cultivation and Innovative Application of the Blockchain Industry(2020 – 2022)”
  • The Blockchain Professional Committee of Hebei Information Industry and Information Technology Association was established.

Wrapping it Up!

Blockchain no doubt has the potential to transform any sector with its unique features. Sooner the features are analysed and adapted into the possible sectors, the more would be the development pace in the country. China too has recognized the blockchain’s power and wish to implement in all possible sectors and strengthen the economy.

Article Produced By
Qadir AK

Qadir Ak – Co-founder of Coinpedia Blog – His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

https://coinpedia.org/news/blockchain-in-china-could-be-explored/

Heiko Closhen, Entrepreneur