Friday, January 17, 2025
type here...
Home Blog Page 52

What is Ethereum?

By
Stanislav Shishkin
-
0
Ethereum Price Prediction: ETH/USD Market Maintains Fluctuating Situation at $3,000

Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity.

As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network’s users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call the decentralized applications on the network “dApps.”

As a cryptocurrency, Ethereum is second in market value only to Bitcoin, as of Agust 2021.

How does Ethereum work? Simply, it’s also referred to as a “world computer”, since the Ethereum platform uses the computing power of the computers connected to its network. The information is stored on each computer, or “node”, meaning it’s decentralized and controlled by no one, unlike a traditional database. There’s no limit on the number of such computers that can connect to the network.

Understanding Ethereum

Ethereum was created to enable developers to build and publish smart contracts and distributed applications (dApps) that can be used without the risks of downtime, fraud, or interference from a third party.

Ethereum has wider ambitions than Bitcoin. It wants to be a platform for all kinds of applications that can store information safely.

Ethereum describes itself as “the world’s programmable blockchain.” It distinguishes itself from Bitcoin as a programmable network that serves as a marketplace for financial services, games, and apps, all of which can be paid for in Ether cryptocurrency and are safe from fraud, theft, or censorship.

What Is Ethereum in Simple Terms?

Ethereum, like any blockchain, is a database of information that is designed to be unhackable. Ether, or ETH, is the cryptocurrency used to complete transactions on the blockchain.

Unlike in a traditional database, information in a blockchain is organized as a chronological “chain” made up of “blocks” of data. For instance, every transaction using an Ether coin must be verified and recorded as an additional block on that coin’s unique blockchain. This process of recording every transaction in a sequence is the reason that a blockchain is often compared to a ledger.

The Ethereum blockchain stores more than transaction records for Ether currency. It allows software developers to create games and business applications, called dApps, and market them to users. Those users want to take advantage of the relative lack of risks that come with storing sensitive information on the World Wide Web.

Many consider Ethereum to be the internet’s next step. This “next-generation web” supports decentralized applications (DApps), decentralized finance (DeFi) and decentralized exchanges (DEXs), for instance. 

How Does Ethereum Make Money?

Users pay fees to use dApps on the Ethereum platform. These fees are called “gas” because they vary depending on the amount of computational power used.

How does Ethereum work?

Like Bitcoin, the Ethereum network exists on thousands of computers worldwide, thanks to users participating as “nodes,” rather than a centralized server. This makes the network decentralized and highly immune to attacks, and essentially unable to go down as a result. If one computer goes down, it doesn’t matter because thousands of others are holding the network up.

Ethereum is essentially a single, decentralized system that runs a computer called the Ethereum Virtual Machine (EVM). Each node holds a copy of that computer, meaning that any interactions must be verified so everyone can update their copy.

Network interactions are otherwise considered “transactions” and are stored within blocks on the Ethereum blockchain. Miners validate these blocks before committing them to the network and acting as transaction history or a digital ledger.

Also like Bitcoin, all Ethereum transactions are entirely public.

History of Ethereum

Vitalik Buterin published the Ethereum white paper in 2013, detailing smart contracts — automated, immutable “if-then” statements — enabling the development of decentralized applications. While DApp development already existed in the blockchain space, platforms weren’t interoperable. Buterin intended Ethereum to unify them. To him, unifying the way DApps run and interact was the only way to maintain adoption.

Ethereum vs. Bitcoin

Unlike the Bitcoin blockchain, the Ethereum blockchain was not created to support a cryptocurrency. The Ether cryptocurrency was created to provide an in-house currency for applications built on the Ethereum blockchain.

While Bitcoin is the most mainstream cryptocurrency, the Ethereum community has the ambition to expand the project. In other words, Ethereum has wider ambitions. It wants to be a platform for all kinds of applications that can store information safely.

Disadvantages of Ethereum

The first is scalability. Buterin envisioned Ethereum the way the web is now, with millions of users interacting at once. Due to the PoW consensus algorithm, however, such interaction is limited by block validation times and gas fees. Furthermore, decentralization is a hindrance; a central entity, like Visa, manages everything and has perfected the transaction process.

Second, there is accessibility. Ethereum is expensive to develop on and challenging to interact with for users unfamiliar with its technology.

Criticisms of Ethereum

Prices of all cryptocurrencies, including Ether, tend to mirror bitcoin price action. This has been evident for years and is front and center at present.

Each of these networks is eating up a vast amount of energy. Cryptocurrency miners, in particular, are devoting a huge amount of computing power to the process of validating transactions.

Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity.

As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network’s users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call the decentralized applications on the network “dApps.”

As a cryptocurrency, Ethereum is second in market value only to Bitcoin, as of Agust 2021.

How does Ethereum work?

Simply, it’s also referred to as a “world computer”, since the Ethereum platform uses the computing power of the computers connected to its network. The information is stored on each computer, or “node”, meaning it’s decentralized and controlled by no one, unlike a traditional database. There’s no limit on the number of such computers that can connect to the network.

Understanding Ethereum

Ethereum was created to enable developers to build and publish smart contracts and distributed applications (dApps) that can be used without the risks of downtime, fraud, or interference from a third party.

Ethereum has wider ambitions than Bitcoin. It wants to be a platform for all kinds of applications that can store information safely.

Ethereum describes itself as “the world’s programmable blockchain.” It distinguishes itself from Bitcoin as a programmable network that serves as a marketplace for financial services, games, and apps, all of which can be paid for in Ether cryptocurrency and are safe from fraud, theft, or censorship.

What Is Ethereum in Simple Terms?

Ethereum, like any blockchain, is a database of information that is designed to be unhackable. Ether, or ETH, is the cryptocurrency used to complete transactions on the blockchain.

Unlike in a traditional database, information in a blockchain is organized as a chronological “chain” made up of “blocks” of data. For instance, every transaction using an Ether coin must be verified and recorded as an additional block on that coin’s unique blockchain. This process of recording every transaction in a sequence is the reason that a blockchain is often compared to a ledger.

The Ethereum blockchain stores more than transaction records for Ether currency. It allows software developers to create games and business applications, called dApps, and market them to users. Those users want to take advantage of the relative lack of risks that come with storing sensitive information on the World Wide Web.

Many consider Ethereum to be the internet’s next step. This “next-generation web” supports decentralized applications (DApps), decentralized finance (DeFi) and decentralized exchanges (DEXs), for instance. 

How Does Ethereum Make Money?

Users pay fees to use dApps on the Ethereum platform. These fees are called “gas” because they vary depending on the amount of computational power used.

How does Ethereum work?

Like Bitcoin, the Ethereum network exists on thousands of computers worldwide, thanks to users participating as “nodes,” rather than a centralized server. This makes the network decentralized and highly immune to attacks, and essentially unable to go down as a result. If one computer goes down, it doesn’t matter because thousands of others are holding the network up.

Ethereum is essentially a single, decentralized system that runs a computer called the Ethereum Virtual Machine (EVM). Each node holds a copy of that computer, meaning that any interactions must be verified so everyone can update their copy.

Network interactions are otherwise considered “transactions” and are stored within blocks on the Ethereum blockchain. Miners validate these blocks before committing them to the network and acting as transaction history or a digital ledger.

Also like Bitcoin, all Ethereum transactions are entirely public.

History of Ethereum

Vitalik Buterin published the Ethereum white paper in 2013, detailing smart contracts — automated, immutable “if-then” statements — enabling the development of decentralized applications. While DApp development already existed in the blockchain space, platforms weren’t interoperable. Buterin intended Ethereum to unify them. To him, unifying the way DApps run and interact was the only way to maintain adoption.

Ethereum vs. Bitcoin

Unlike the Bitcoin blockchain, the Ethereum blockchain was not created to support a cryptocurrency. The Ether cryptocurrency was created to provide an in-house currency for applications built on the Ethereum blockchain.

While Bitcoin is the most mainstream cryptocurrency, the Ethereum community has the ambition to expand the project. In other words, Ethereum has wider ambitions. It wants to be a platform for all kinds of applications that can store information safely.

Disadvantages of Ethereum

The first is scalability. Buterin envisioned Ethereum the way the web is now, with millions of users interacting at once. Due to the PoW consensus algorithm, however, such interaction is limited by block validation times and gas fees. Furthermore, decentralization is a hindrance; a central entity, like Visa, manages everything and has perfected the transaction process.

Second, there is accessibility. Ethereum is expensive to develop on and challenging to interact with for users unfamiliar with its technology.

Criticisms of Ethereum

Prices of all cryptocurrencies, including Ether, tend to mirror bitcoin price action. This has been evident for years and is front and center at present.

Each of these networks is eating up a vast amount of energy. Cryptocurrency miners, in particular, are devoting a huge amount of computing power to the process of validating transactions.

Advertisement

What is a token sale? What is Semi-Fungible Token or SFT?

By
Stanislav Shishkin
-
0

Replaceability is a trending subject for 2021 after the explosive progress of NFT. But what are semi-fungible tokens (SFT) and the way do they work?

What is a token sale What is Semi Fungible Token or

Interest in non-fungible tokens has reached unimaginable ranges within the first half of this yr. Data from NonFungible reveals that NFT gross sales rose to greater than $ 2.4 billion within the first quarter – 20 instances greater than three months earlier. Additionally, the momentum reveals no indicators of slowing as far as main NFT market OpenSea posted a report $ 49 million trading quantity on Aug. 1, up from the every day common of $ 8.3 million per day. The common price of CryptoPunks – one of many first NFT collections launched on the Ethereum blockchain – additionally hit a report of 66,919 ETH per NFT (about $ 220,000 at press time) that very same month.

The explosive progress has sparked a wave of innovation round non-fungible belongings, together with the emergence of a new sort of token referred to as “Semi-Substitute” (SFT). In the start, the SFT is interchangeable and doesn’t develop into fungible afterwards.

Tokens are exchangeable

The majority of the crypto belongings that traders observe and trade are fungible, which means they’re simply interchangeable. For instance, if two individuals swap 1 ETH for each other, the worth is not decreased and neither aspect wins. This is as a result of there is no distinction in worth between 2 ETH or 2 BTC (excluding cash which have been stolen or used for criminality).

Fiat currencies like US {dollars} are additionally interchangeable, you should use any 100 greenback invoice, new or outdated, it has the identical buying energy. In different phrases, fungibility is the power of a token (or foreign money) to be exchanged or changed with different tokens of the identical sort, leading to no change in worth.

Tokens usually are not interchangeable

NFTs are blockchain-powered tokens that can be utilized to characterize digital ownership of one thing distinctive and uncommon, similar to artworks, collectibles, music, or digital actual property. . Because every merchandise has a distinctive worth based mostly on inherent traits similar to producer or rarity, it is not attainable to trade NFTs similar to ETH or US {dollars}. For instance, a 1: 1 digital baseball card can’t be exchanged for a digital property. They are utterly completely different properties. Not to say the digital baseball card may be a part of an exceptionally uncommon assortment, however the digital lot is in an uncommon location.

Because NFTs are saved on the blockchain, every token has the next properties:

– Indivisible: Small elements of the NFT can’t be bought.

– Indestructible: The NFT can’t be destroyed or eliminated.

– Unchangeable: The fundamental info of the NFT can’t be modified after saving.

Verifiable: Since NFTs are saved on public blockchains, anybody can simply confirm authenticity and ownership at any time.

What is a token sale?

SFT is a comparatively new group of tokens which can be each fungible and non-fungible. Initially, SFTs functioned like regular fungible tokens as they had been traded equally to different similar SFTs.

For instance, a token representing an Amazon voucher price $ 10 would have the identical worth as an similar voucher with the identical expiration date, making it interchangeable.

The differentiator that makes these particular tokens “semi-alternative” is that the fungible tokens lose their face worth after being exchanged. This lack of exchangeable worth makes the expired token non-fungible.

Another solution to perceive this idea is to think about that you’ve got a token that represents a live performance ticket to see the Beatles’ last efficiency. Tickets have a face worth and might be exchanged for one more similar live performance ticket so long as the identical band is on the identical day and in the identical seating space. After the present, the token that represents the ticket turns into a collector’s merchandise and has a complete new worth. It additionally implies that the token can now not be exchanged for a legitimate live performance ticket with the identical authentic face worth to see one other band.

The semi-fungible token is named after the transition from a fungible to a non-fungible token.

Imagine you may have a ticket for the soccer subject price 500,000 VND, after the top of the sport that ticket will lower in worth, i.e. to 0. However, if you’re fortunate, ask about a celebrity like Messi or Ronaldo on the Ticket, you possibly can even promote it for 100 instances.

How to create a semi-alternate token

It is at present attainable to mint SFTs utilizing Ethereum’s ERC-1155 normal. It is one of many Ethereum token requirements – blueprints for creating tokens on the Ethereum blockchain which can be appropriate with all different ERC-based tasks.

The ERC-1155 normal was created by blockchain sport builders Enjin like Horizon Games and The Sandbox in 2017 and is basically a mixture of the ERC-20 (fungible token) and ERC-721 (non-fungible token) requirements. This normal makes it attainable to create and handle each fungible and non-fungible tokens with a single sensible contract – a laptop program that executes itself beneath sure circumstances.

SFT is significantly helpful within the gaming trade, which accommodates fungible objects similar to in-game foreign money (gold bars or digital sport foreign money) in addition to non-fungible objects (collectibles and weapons). This implies that sport corporations each create tokens and ensure they work together with one another in order that gamers can simply swap weapons for gold and vice versa.

Synthetic Team

According to Coindesk

Advertisement

What is a Bitcoin Wallet? Instructions for registering a Bitcoin account

By
Stanislav Shishkin
-
0
Bitcoin Wallet

What is a Bitcoin Wallet?

A Bitcoin wallet is similar to a digital bank account. Here you can send, receive and manage your bitcoins. This is how it works: You buy bitcoins from BTC Direct, then these are sent to your wallet. You manage your money in your wallet. Would you like to send bitcoins elsewhere? You can then select the “Send” option in your wallet and enter the recipient’s address. The money is sent from your wallet to the recipient’s wallet.

Which Bitcoin wallet should I choose?

There are many different types of wallets to choose from. Which wallet you should choose depends on several factors. Are you just starting out with trading cryptocurrencies or are you already more experienced? Do you want to buy small quantities or invest a lot?

Creating a Bitcoin wallet is very easy. There are roughly three types of wallets: mobile wallets, software wallets, and hardware wallets. Mobile wallets and software are usually free. Each has multiple providers and each wallet has its own specifics in terms of things like ease of use and security.

You can use a mobile wallet Coinomi to buy your crypto from BTC Direct without having to switch between tabs and apps. And since you no longer have to copy and paste your receiving address, it’s also easier and safer!

How do I create a Bitcoin wallet?

Which wallet is best for you depends on several factors, such as: B. what your buying needs are and what you want to use the bitcoins for. If you are just starting out to buy bitcoins, online wallets are the easiest and most user-friendly way to manage them. A widely used free wallet is Coinomi. This wallet also supports other coins. You set up a Coinomi wallet by following these steps:

1. Go to the App Store (iOS) or Google Play Store (Android).
2. Find and download Coinomi.
3. Open the app and write your 24-word recovery phrase. Very important, this is a backup for your wallet!
4. Set a strong password
5. Add bitcoins to your wallet
6. Use your receiving address to receive bitcoins

What is a Bitcoin receiving address?

The receiving address corresponds to your bank account number. Every Bitcoin wallet has a unique Bitcoin receiving address. You can share this bitcoin address with others to let them know how to send money to your wallet.

BTC addresses are alphanumeric and always start with 1 or 3. Here is an example of a receiving address: 3FZbgi29cpjq2GjdwV8eyHuJJnkLtktZc5. A common question is how to get a BTC address. Each wallet automatically generates a Bitcoin address. If you’ve just created a new wallet, you’ll have a unique Bitcoin address in no time. If you enter this address on our order form, we will know where the money should be sent.

New Bitcoin addresses are not only generated after creating a new wallet, but also after every transaction. And for good reason: If your address changes frequently, your privacy online is better protected.

Do you want to reuse your old Bitcoin address? No problem! Any address where you previously received bitcoins can be reused. It doesn’t matter if someone sends money to your newest address or your oldest address – bitcoins go to the same wallet. In most wallets, all generated addresses can be found in the transaction history.

Please note!

To receive and send bitcoins, always copy and paste the receiving address. This will reduce the risk of making mistakes. Do not write or enter the address. All cryptocurrency transactions are immutable; Once the money has been sent there is no way to get it back.

How can I receive or send bitcoins?

When buying or receiving Bitcoins, use the receiving address from your wallet. We can’t emphasize it enough: copy and paste this address, don’t write or type it. The Bitcoin receiving address is similar to your personal bank account number from which you receive Bitcoins. But where can you find your Bitcoin receiving address?

delivery address

First, log into your wallet. In most wallets, the receiving address can be found under the “Receive” button. There are wallets where the Bitcoin receiving address changes automatically after it has been used for a transaction. This is your privacy policy. But don’t worry: ‘old’ receiving addresses are always valid and linked to your wallet.

To take

To get bitcoins in your wallet, copy the receiving address from your wallet and paste it into the BTC Direct order form. This way we know which wallet to send money to.

Send

Sending bitcoins is just as easy! Click on “Send” in your wallet. Enter the receiving address that you copied from the recipient. Enter the amount you want to send and confirm.

Create a bitcoin wallet backup

When creating a Bitcoin wallet, it is important that you make a backup. In this way you ensure that you always have access to your wallet and therefore your bitcoins.

Most wallets display a randomly generated sequence of 12 or 24 words. This is known as the seed phrase or recovery seed and it acts as a backup for your wallet. Write this seed with pen and paper and keep it in a safe place. Don’t save it digitally or online as this makes it vulnerable to hackers.

If you lose your wallet credentials, you can use the backup to regain access to your funds.

safety first

Just as you keep your physical wallet safe, you also protect your crypto wallet. If your wallet isn’t secure enough, hackers can steal your money. Fortunately, there are tons of ways to keep your wallet secure. Take the time to go through these tips:

Never store your backup data digitally

Write down the following information about your wallet provider on a piece of paper: Username, password, recovery seed Keep them in a safe place. Don’t take photos with your phone. A mobile device with a constant connection to the internet. This makes it easier for hackers to access your wallet.

If possible, choose two-factor authentication (2-FA)

This may sound complicated, but 2-FA is simply that you sign in with multiple devices. Why is that helpful? With 2 FA, hackers cannot access your wallet with just your password. A code is also required to access your wallet. This code can be sent to you via SMS or via an app such as Google Authenticator. We recommend enabling both options for maximum security.

Embassy

As soon as you have activated the 2 FA mode via SMS, you will receive an SMS with a unique code on your phone every time you log in. To activate the 2 FA mode via SMS, you must enter your phone number in the secure settings of the wallet. This means that you will need both your phone and your password to access your wallet.

Google authenticator

You can find the Google Authenticator app in the App Store (iOS) or Google Play Store (Android). To connect the app to your wallet, you need to scan the QR code in your wallet. You can find the code in the security settings. Make sure to secure the QR code by printing it out in case you lose your phone. As soon as the app is connected to your wallet, it generates a new six-digit code every thirty seconds. To access your wallet, you need to enter the code.

Advertisement

What is Wefinex, is it a scam?

By
Stanislav Shishkin
-
0
Crypto Market Analysis

Wefinex (WinsBO) – a famous name on the internet, especially on social networks like Facebook, online communities for making money. Despite working in the financial sector, Wefinex players can be seen from all walks of life, from the elderly to college students who are clueless about financial transactions. Some advertisers for Wefinex say that an investment in WinsBO can “make millions of dollars,” “X2 accounts in 60 seconds,” “super cars, buy houses,” and many other “wing” words.

So what exactly is a Wefinex game that is so easy to make money from, everyone gets rich quick, Wefinex is a multi-level scam, how is it risky to play WinsBO, making money with Wefinex as easy as many people say?

What is Wefinex (WinsBO)?

Wefinex – also known as WinsBO, is a trading platform for binary options (Binary Option) or known by traders as Trade BO for short. Basically, the binary option is a form of predicting how the value of an asset (be it crypto, gold, stocks, shares) will develop (up or down) over a certain period of time. If the prediction is correct you will get money, if you are wrong you will lose money, you will think of it as a game of money and you will pass out.

On BO trading in general, I already have a very detailed article that you can read here and in this article I will only focus on the analysis of the Wefinex project.

The relationship between Wefinex Exchange and Winbank

Wefinex is a product in the Winbank ecosystem, according to the information I have learned, Winsbank claims to be a financial investment company with the full name of WINSBANK HOLDINGS LIMITED and WinsFun – a previously evaluated MLM project for cryptocurrencies product in the Winsbank system. Although only launched in early 2020, Wefinex is extremely HOT in Vietnam right now, largely thanks to the affiliate marketing network, aggressive promotional directors to attract investors to participate in trading on the BO exchange. Of course, these leaders receive attractive commissions if they do well.

How can I participate in trading on the Wefinex Exchange?

Similar to other BO exchanges, playing on Wefinex is quite simple, first you need to register an account, then deposit money into the exchange via Win (an internal coin from WinsFun) or electricity, such as Bitcoin (BTC), Ethereum (ETH) , USDT (Tether) then you transfer funds to a real trading account and finally choose the trading pair you want to play, the amount you want to wager and choose whether to increase or decrease. If after a certain time, say 60s, the price moves according to your forecast, you will receive 95% of your order amount, otherwise you will lose 100% of your money.

Is Wefinex Legal in Vietnam?

Wefinex in particular, or the current form of binary options trading in Vietnam in general, is not legal, but Vietnamese law has not prohibited this form of financial trading. However, in the world there are some countries that consider BO trading as a form of gambling and are banned, while some countries have issued a risk warning to the public.

What does it mean that Wefinex is not legalized in Vietnam? That said, if you join trading on Wefinex and suffer any loss, fraud or loss of money, you must be responsible, Vietnamese law does not protect you, so if it happens, in the worst case, if you have a lawsuit, nobody will solve for you.

Is Wefinex a Scam? What are the risks of playing Wefinex?

In addition to the “heavenly” advertisements from Wefinex executives, there are still people who wonder, “Is Wefinex a scam?” Before we answer that question, let’s dive a little deeper into this BO exchange.

Who is behind Wefinex?

As mentioned earlier, Wefinex was founded by Winsbank – a Belize-based company that claims to be a leading digital bank. Wins Bank also launched stock investment packages called eshare in January this year. When buying eshare packages, investors get high interest in the form of MLM, it is no different from Wins Fun before, a project MLM cryptocurrency investment project with extremely high interest rate. Although the project claims to be based overseas, there is no official information from the host country about the legal registration of Winbank or Wefinex and even Winsfun.

The special, not only for the Winbank ecosystem, but most of the MLM projects never publish the people behind the project, the information is very vague and general. As for Winbank, Winsfun or Wefinex, some sources we received say they were founded by Vietnamese and one of the key characters might be “Tuan Cam” or Le Ngoc Tuan, human The famous scammer in the Vietnamese crypto community, the person behind iFan – Vietnam’s trillion-dollar scam Ponzi model or, more recently, BeeGroup – a fraudulent online course selling platform was also warned by us.

Vietnamese press talks about Wefinex and Winbank

Instead of seeing anything in the big press, consider it a reputable source and especially rely on it to make investment decisions related to money. Winbank and Wefinex have both written very good articles in Dan Tri, Law of Vietnam, or even People’s Public Security, but you should keep in mind that all of these articles are “paid” articles, that is, they are spending money to be present in these newspapers. Each newspaper has its own rating framework before approving a project for publication on their platform and of course there are newspapers that exclude projects that are ambiguous, risky and could harm readers. , but there are also newspapers that do not check them before publication.

Dan Tri newspaper previously had a good article about the iFan scam. Then when iFan burst and cheated thousands of people with a huge amount of tens of thousands of billion dong, that newspaper deleted this article. This shows that the publication of a project in major newspapers does not mean that it is a prestige project.

So is Wefinex a scam?

At this point, no one can confirm whether or not Wefinex is a scam, especially since it has only been on the market for a short time. However, based on the data around it and the shape of the BO trade, it can be seen that it is extremely risky and you can lose all of your money if you participate in the trade.

The most recent example is the BO exchange named “CJ Trade” – just like Wefinex, which has led many people to lose billions, this incident was reported by Vietnam Television VTV to warn investors. There are also many people who file complaints with Vietnamese law enforcement agencies, but in my opinion it is very difficult for these people to get their money back and especially difficult to do anything about the landowner, why? Section above.

Trade BO is not a new form, it has been around for a long time. You may have heard the name “Binomo” – a binary options broker that may be considered the most famous in Vietnam and has been known for some time on social networks for its promotional videos that are too much to be enticing. Wefinex or CJ Trade both follow Binomo with a similar trading system, but of course much more sketchy. Trade BO is also referred to as a “game of chance” by a lot of people, and I personally think that’s right.

Is it easy to make money with Wefinex? Is Trade BO really easy to eat?

Almost 100% of the people who specifically promote Wefinex or BO brokers in general say it is easy to make money BO trading, they even recommend you join their “trading signals group” to be able to earn less% benefit every day without doing anything. I can confirm with you that it is a “wrong dog” trading BO is a derivative business, it is not easy to make money in this market especially for those who have no knowledge. about financial markets, about trading, about technical analysis, ..

Trading is actually a profession and it is entirely possible to make money, but it is not for the “newbies” – newcomers and no one can attest that “I am always right” in this market of trading experience. If you’ve ever been invited to Wefinex someone has likely advised you to join their “group” to “sit and get money”, they say their team has “experts”, PRO traders to help you, everyone Day making money. But if they can really “safely” earn 1% -3% per day, then it’s not your turn and you don’t have to operate as an affiliate marketing system to earn every single commission.

To trade successfully, you need to have knowledge of technical analysis, read charts, analyze market movements, political situation, world economy, have a solid trading understanding, have a specific trading plan, be good at managing capital … but when you deposit money and then with Play emotions, it’s 100% “gamble” and I believe you will lose all your money, very few people with no knowledge can make money out of the ground, not to mention the “meddle, lose money” mentality. “Even if you win now, if you keep breaking your trade, you will eventually lose everything (burn your account). And not just losing money, loss affects your psychology, work, and daily life as well , that’s for sure.

“Houses, cars, hoblot watches, piled up money”

These are the images you often see on the Facebook accounts of “financial professionals” who work for Wefinex, Winbank or Winsfun. So where do they make so much money, is it their investment knowledge that they made by trading Wefinex, investing in Winbank, Winsfun, how they try to invite you to join or not? No, the money comes from you. Why?

All of these projects have an affiliate marketing program, which means you will receive a commission whenever you invite new people to invest, or trade. Winsfun used to pay up to 8% from Formula 1, for example when you invite a newbie to buy a $ 100 million investment package …

Advertisement

What is Secret Network (SCRT)?

By
Stanislav Shishkin
-
0
Secret Network (SCRT

Blockchain technology offers a beneficial level of publicity and transparency that current centralized networks cannot, but there is private data that users do not want to generally share.

For example, how many people would like to use a network to share their financial and identification information with everyone?

That is the problem that Secret Network wants to solve. By enabling programmable smart contracts to run on the blockchain and compute in a trustworthy execution environment and protect data from the nodes themselves, the Secret Network promises the benefits of blockchain transparency with security and privacy that users of web services have come to expect.

This is how Secret Network works and what the community wants to achieve with the project.

What is secret network?

Secret Network is a blockchain specially designed for data security. By supporting encrypted inputs, outputs, and smart contract states, Secret Network enables programmable smart contracts to protect users’ data. If coins like Monero (XMR) and Zcash (ZEC) are the privacy-oriented development of Bitcoin, then Secret Network’s smart contracts, like Ethereum’s own smart contract development, are based on this premise and at the same time enable the secure transmission of personal data.

Secret Network grew out of Enigma, a startup that developed the concept of a decentralized protocol for secret smart contracts. Enigma raised $ 45 million in an ICO in 2017, but encountered opposition from the US Securities and Exchange Commission in 2020 and had to pay a fine.

. Finally, the surrounding community mystery

decided to continue this vision as an independent, decentralized project. This is how the current version of Secret Network came about. Holders of Enigma’s Ethereum-based ENG token can use the swap to trade 1: 1 with SCRT (Secret Network’s native coin used for administration and fee payment). Enigma remains involved as a major player in the community and supports the development of Secret Network.

How does the secret network work?

Secret Network is a layer 1 blockchain with its own consensus algorithm and on-chain governance, which is based on Cosmos’ Tendermint. It works on a distributed network of nodes doing intelligent contract calculation built on top of the secret network, but the nodes use a Trusted Execution Environment (TEE) – like a black box – to make it work. This process avoids prying eyes.

It’s similar to how smartphone processors use TEE to process sensitive data like fingerprints, but instead it’s a blockchain node. The network calls its smart contracts “secret contracts” because they are designed to protect the privacy of the data they contain. SCRT tokens (“Secret”) must be deployed by nodes in order to participate in the network and used to pay fees and transfer the value.

What is special about Secret Network?

There’s a lot to like about blockchains, like immutability and transparency, but this level of openness limits the type of data that many blockchains can securely process – especially top-secret data that individuals or companies cannot see.

The Secret Network aims to fill that void by providing a level of privacy and security while keeping what people like about blockchain technology – theoretically the best of both worlds. While it’s not the only company trying to fill this void, it could be the key to the future of some decentralized applications (dapps), especially in the decentralized financial sector.

What can you do with Secret Network?

Secret Network was designed to enable decentralized applications that require a level of data protection not found in many other blockchain networks. By using a trusted execution environment and keeping data confidential for both node operators and the public, sensitive information can be processed that users and organizations do not want to divulge.

Network operators have suggested many potential use cases, including lending dapps and credit scoring, machine learning to maintain privacy, and enhanced sharing to securely monetize data. In a broader sense, the Secret Network can be useful for any Dapp that processes sensitive data.

You know?

Secret Network builds on Kosmos. Cosmos is known as the “Internet of Blockchains” and aims to create a networked blockchain ecosystem, while many existing blockchains are more like individual networks.

The future for SCRT

With the ENG-SCRT token swap ending in January 2021 and ending the old Enigma project, Secret Network is trying to work towards a future that includes interoperability with other blockchains. The lack of cross-chain compatibility could make Secret Network less attractive and ultimately not make it as popular or useful as the community developers intended. Secret Network also passionately promotes decentralized financing with its Secret DeFi initiative and will launch its decentralized exchange SecretSwap in February 2021. After side FAQ

As part of our vision to always bring privacy to every blockchain. ”The platform leverages Cosmos’s cross-blockchain communication and interoperability as another potential initiative on the roadmap.

In addition, Secret Network seems to be focused on attracting more developers to create dapps on the blockchain, thus presenting more use cases in the process. However, it’s not the only blockchain with privacy-focused smart contracts (Oasis Network is another example) and there are other potential solutions to the processing dilemma: sensitive data on the blockchain – like secure multi-party computation. It remains to be seen whether the Secret Network solution will ultimately outperform the other solutions currently on the market.

Advertisement

What is flow Blockchain for NFT

By
Stanislav Shishkin
-
0
What is flow Blockchain for NFT

Dapper Labs aims to leverage the blockchain that powers NBA Top Shot and CryptoKitties as the platform of choice for more NFT experiences in the future.

When CryptoKitties, one of the first non-fungible token (NFT) projects, brought the Ethereum blockchain to a standstill at the end of 2017 due to massive bottlenecks, developer Dapper Labs learned that the current generation of blockchains were not built for such a need.

Rather than simply finding another home for a decentralized application (dapp) or waiting for Ethereum scaling solutions to mature, Dapper decided to build a blockchain that she and other developers could rely on.

As a result, Flow was born. Flow is a blockchain specially designed to support things like NFT collectibles and large-scale crypto games.

CryptoKitties will soon be migrating to Flow, and with the overwhelming success of Dappers NBA Top Shot and many other developers who have partnered with Flow amid the NFT boom, it’s clearly one of the leading blockchains for such creativity.

This article will walk you through what flow is, how it works, and how to get FLOW tokens.

What is flow

Flow is a blockchain that is scalable without the use of sharding techniques and enables fast and inexpensive transactions suitable for dapps such as NFT marketplaces and cryptocurrency video games. .

As mentioned earlier, Flow comes from Dapper Labs, which decided to solve its blockchain bottleneck by developing apps specifically for games and other interactive experiences. Dapper currently uses Flow for all of its own projects, including NBA Top Shot, but it’s open to other developers as well.

How does flow work?

Flow uses a PoS model in which validators have to use a certain number of FLOW tokens in order to participate in the network.

Validation tasks are very different from blockchains, however, as Flow divides validation tasks into four different types of nodes: consensus, verification, execution, and collection. All four types of nodes are involved in the validation of any transaction.

Dapper says the division of tasks makes transaction processing more efficient than competing blockchains. It’s an alternative to sharding, or distributing the storage and computing requirements of a blockchain across multiple nodes. Flow doesn’t use sharding, and this is how the blockchain keeps transactions atomic, consistent, isolated, and persistent (ACIDs), according to Dapper, and allows developers to build on each other’s work.

Flow also offers updateable smart contracts that allow the smart contract to be deployed in beta and then improved or repaired before it becomes final and immutable.

You know?

CryptoKitties will move from Ethereum to Flow, where Dapper promises to develop new features for digital cats that can breed and use in future Flow-based games.

What is special about Flow?

Flow was designed for the kind of collectable and interactive cryptocurrency experience that is rapidly growing in popularity and could find a much larger audience in the years to come. NBA Top Shot has shown the potential for a blockchain-powered collecting experience to generate massive amounts of money and grab mainstream attention. It’s just a flow build experience, and more to come.

Flow + NBA + UFC

NBA Top Shot was a complete success, but Dapper Labs has other well-known partners in stabilizing it. The company has agreements with the Ultimate Fighting Championship (UFC) and Dr. Suess signed to develop the cryptocurrency collecting experience in the same direction. In addition to these brands, Dapper also has partners such as the giant Samsung, the game publisher Ubisoft and the Warner Music Group.

What can you do with Flow?

Right now, as a user, you can interact with Flow via NBA Top Shot or by purchasing artwork from the VIV3-NFT marketplace, as well as other active apps based on blockchain. Developers can use several built-in tools to experiment with Flow and create their own dapps.

You know?

Dapper Labs raised a $ 12 million investment round in August 2020 with the participation of a number of current NBA players including Andre Iguodala and Spencer Dinwiddie.

future

In late 2020 and early 2021, the NFT collections exploded significantly. Flow was one of the platforms that benefited the most from this growth. Not only is NBA Top Shot by Dapper Labs one of the most successful crypto dapps, Flow also reported a significant increase in developer inquiries in the first few weeks of 2021. In short, NBA Top Shot is a successful proof of concept for Dapper’s custom built blockchain, and now other developers want to take advantage of that infrastructure.

Advertisement

Crypto News Aug 28

By
Alicia Garcia
-
0
Is November Altcoin Season?

BTC

The CEO of the funding consultancy Midas Touch Consulting, Florian Grummes, has suspect Bitcoin price of USD 100,000 in the subsequent 6 months, however the market nonetheless has the potential for a robust correction in the brief time period.

He cautioned traders to be cautious of the current upside momentum, noting that one other correction may quickly happen before main property hit all-time highs.

According to Grummes, Bitcoin will likely nonetheless face one other sell-off that may ship the price again into the $ 25,000 area. Or, the price is likely to hover in the $ 35,000 space, then transfer again into the $ 60,000 space and the bull market resumes. He additionally predicts that BTC may hit $ 100,000 inside the subsequent six months.

Ripple

Ripple has Submit requested U.S. District Court decide Sarah Netburn to compel the U.S. Securities and Exchange Commission to produce further paperwork that replicate their tips for trading digital property.

The firm needs to discover out whether or not SEC staff are allowed to trade in XRP, Ether, Bitcoin and different cryptocurrencies.

In addition, Ripple needs to acquire certificates representing crypto holdings from SEC staff and is prepared to obtain such info in an aggregated type.

O3 Swap

O3 swap already accomplished the restoration of the cross-chain pool performance.

O3 Swap mentioned the mission has accomplished restoring performance to all supported cross-chain swimming pools. O3 Swap presents rewards for individuals who add liquidity to cross-chain swimming pools like O3 Pool (USDT), ETH Pool, USDC Pool.

Advertisement

Cardano Enters Final Stage of Smart Contract On The Horizon

By
Stanislav Shishkin
-
0
Cardano Enters Final Stage of Smart Contract On The Horizon

Input Output Global (IOG) has announced that the main Cardano testnet has been hardforked to the Alonzo era.

During the recent Cardano 360 event, delivery lead Dimitris Poulopoulos described the testnet as “a dress rehearsal.” The team of developers will be closely monitoring all issues that have to be resolved before the mainnet deployment.

Charles Hoskinson, the creator of Cardano and IOG CEO confirmed that after reviewing the infrastructure, and the state of the testnet, the team decided to greenlight the final test stage.

He further explained that, unlike previous occasions, Alonzo has entered the “primary testnet used for exchanges and all the other people”. Once the HFC infrastructure “rolls over”, it will stay on the testnet until the “update proposals are done” on September 9th, before its launch on the 12th.

Also, you can hear about that in below Podcast.

Advertisement

12-year-old ‘Weird Whales’ to earn over US$400k after coding NFTs

By
Stanislav Shishkin
-
0
Benyamin Ahmed
Benyamin Ahmed showing off his creations and the codes behind them. IMAGE: The Telegraph

The non-fungible token (NFT) industry is one that has taken the world by storm in recent times, and few who have mastered the art are making six to seven figures from NFT collections. Benyamin Ahmed from London is one of such NFT creators. The 12-year-old curated a project called “Weird Whales,” an NFT collection that features 3,350 pixelated whales. After the launch of that project, the young software engineer raked in an amazing $350K worth of ether. 

Benyamin Ahmed expects to make $400K with his ‘WeirdWhales’ NFT collection

According to the interview of Benyamin carried out by the CNBC, the12-year-old boy who started coding at age five, made 350K worth of ether immediately after the launch, and also collected 30 ether worth more than $95K from the Weird Whales’ royalties. That is, Ahmed gets 2.5% on every secondary sale of a whale. 

Weird Whales shares some similarities with other NFT projects like Cryptopunks and Bored Ape Yacht Club (BAYC)as there are only 3,350 pixelated whales in the collection. The whale-inspired NFT collection is only Ahmed’s second NFT venture as he also launched a separate project called Minecraft Yee Haa. Ahmed learned a great deal from his father who was a web developer and the 12-year-old has good knowledge of HTML, CSS, and Javascript as well.

Speaking during his interview with CNBC, Ahmed recalled how he first learned about NFTs earlier in the year. He claimed he got fascinated with NFTs because of the ease with which one can easily transfer the ownership of an NFT by the blockchain. 

Weird Whales project only cost $300 in Ether transaction fees

Ahmed also explained that he does not use a bank account to store his wealth, that he plans to hold them in a cryptocurrency wallet and not convert it to fiat money. Claiming that this might be early signs that somewhere in the near future, maybe the use of a bank account will not be for everybody, he hopes to open an account, however, so as to be able to report taxes.  

To date, Ahmed has raked in about $350K worth of ether and he has full expectations that the total will be around $400K eventually. Ahmed added that the initial capital to get the project running was around $300 in ETH fees.

Advertisement

What Is Bitcoin?

By
Alicia Garcia
-
0
Bitcoin Bearish Signals Go Off Despite Recovery Above $44k, Dead Cat Bounce?

Bitcoin is the oldest and best-known cryptocurrency in the world working non-stop since 2009 which commonly abbreviated as “BTC”. Satoshi Nakamoto released the original bitcoin whitepaper in 2008 and worked on the original bitcoin software that was released in 2009.

Unlike government-issued currencies, Bitcoin is operated by a decentralized authority. It is a peer-to-peer cash protocol designed to operate without central authorities like governments and banks. Bitcoin is open-source nature ensures that all its transactions, as well as the issuance of bitcoins, are collectively secured by genius math, cryptography, and network participants called miners. Such a design makes it the most sophisticated, accessible, and transparent money.

The miners can be thought of as the decentralized authority enforcing the credibility of the bitcoin network. New bitcoin are released to the miners at a fixed, but periodically declining rate. There are only 21 million bitcoin that can be mined in total. As of June 2021, there are over 18 million bitcoin in existence and less than 3 million bitcoin left to be mined.3

In this way, bitcoin operate differently from fiat currency. In centralized banking systems, the currency is released at a rate matching the growth in goods; while this system is intended to maintain price stability. A decentralized system, like bitcoin, sets the release rate ahead of time and according to an algorithm.

Bitcoin Mining

The bitcoin system is a collection of computers (referred to as “nodes” or “miners”) that all run bitcoin’s code and store its blockchain. This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.

Risks of Bitcoin Investing

Regulatory Risk

Bitcoin is a rival to government centralized currency and may be used for black market transactions, money laundering, illegal activities, or tax evasion. So, governments may seek to regulate, restrict, or ban the use and sale of bitcoin (and some already have). Others are coming up with various rules.

The lack of uniform regulations about bitcoin (and other virtual currencies) raises questions over their longevity, liquidity, and universality.

Security Risk

Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware, and operational glitches. If a thief gains access to a bitcoin owner’s computer hard drive and steals their private encryption key, they could transfer the stolen bitcoin to another account.

Insurance Risk

Bitcoin exchanges and accounts are not insured by any type of federal or government program.

Fraud Risk

While bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoin.

Market Risk

Like with any investment, bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to any newsworthy events.

Picture is from Pixabay.

Advertisement
1...515253...112Page 52 of 112

©All rights reserved. CryptoApa® is a registered trademark of CryptoApa Media.

About Us

Popular Category

Editor Picks