The Use of Blockchain. Innovation in Finance and More
In this video I am explaining the importance, use and role of blockchain. Check it out and let me know your thoughts!
Ways of Making Great Returns With Crypto!
Want to know different ways of making money with cryptocurrencies? Check out my latest video
Which Coin Will Be The Most Valued? Where Does The Value Come From?
In this video, I am explaining value of cryptocurrencies. Also, I am sharing my faviorite long-term coin!
Potential Break through Resistance Line, BTCUSD
BTCUSD Market
Potential Break through Resistance Line, BTCUSD
B. Bands are narrowing close to the resistance zone . Bullish candle that breaks through the upper band and spike in volume could result in bullish price movement. On the other hand, if bearish candle breaks the lower band it could result in price decrease forming double top .
This scenario should be watched closely!
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What is Bitcoin?
Bitcoin (BTC) is a cryptocurrency that appeared in circulation in 2009. It was created by Satoshi Nakamoto. Although, until today we do not know in 100% who this person is (or maybe it is a group of people).
Anyway, Bitcoin is a specific currency that anyone can "mine" on their own hardware (usually some Graphic Cards with huge computing power). Bitcoins are divided into smaller units called satoshi (one bitcoin is 100,000,000 satoshi).
Storing this cryptocurrency is quite simple, because this coins are simply stored on the owner's personal computer in a special wallet or they can be stored in special portfolios, created on external websites. If we want to perform transactions via bitcoin, we simply "transfer" them from our portfolio to the portfolio of the second participant.
Bitcoins have been gaining in value since their creation. And in fact, no one knows how much the true value of it is. However, it must be admitted that Bitcoin currency is becoming more and more popular. Also the use of it is being accepted by increasing number of companies and even countries as a means of payment.
Bitcoin's popularity is also related to another fact. It is not controlled by any bank or other type of financial institution, and its value is determined solely by the rules of demand and supply (although supply is limited here, as it will be possible to mint a maximum number of 21 million bitcoins).
Bitcoin is often said to be the currency of the underground world (mafia, gangs, etc.) because transactions can be carried out that are not controlled by any supervisory authorities. However, as data supports it, such transactions are just a margin, and the vast majority of transfers are "normal" payments, exchanges, etc.
What does the future of bitcoin look like?
Hard to say. Most people say that it has a bright future and that over time, it will replace the payment means we currently know. However, some specialists say that the currency will be devalued after a while, and those who have it will lose only the funds they have allocated for its purchase. The truth is surely somewhere in the middle and time will tell who side was more right
What do you think about Bitcoin? Let me know in the comments below!
What is Ethereum?
Ethereum (ETH) is a cryptocurrency that was created in 2013 by Vitalik Buterin. In 2013, Vitalik came up with idea of creating this currency after reading a study about Bitcoin. Often, it is said today that ethereum is bitcoin 2.0. Although at first glance, both cryptocurrencies operate on similar principles, they actually differ in a significant way.
In the case of Ethereum, we are dealing with a protocol that is based on a decentralized Blockchain, on which run applications (anyone can develop an application that runs on Ethereum). This platform has programmed functions called smart contracts, it cannot be broken and it protected from fraud.
This is the main reason why it was very enthusiastically received by the market. This project received 19 million dollars for its development!!!
The value of Ethereum is systematically growing, which results of many factors. First of all, the acceptance and availability of this cryptocurrency is growing. In addition, this project is constantly improved, which allows for even better use of this currency and its smart contracts.
Read whitepaper
What are Smart contracts?
What are Smart Contracts?
Ethereum Technology
The year 2015 was very important for blockchain and cryptocurrency technologies. It was at that time that Ethereum appeared on the market. Unlike Bitcoin, Ethereum's main task was to create a fully decentralized application platform for users.In addition to modern technology and innovations that came with this new open-source platform, smart contract is "probably" the most important business solution of the future.
So, what is a Smart Contract?
As I have already mentioned, Ethereum's main goal is to provide users with a decentralized application platform. Where any developer can create his/her own decentralized app with smart contract.To understand how this system works, we must first understand the concept of smart contract. The idea of this solution appeared in 1996 - more than 20 years ago, but only now we have the technical possibilities to apply it through Ethereum.
Smart contracts are used to enforce individual lines of code. In other words, if there is an event A, the reaction will be B. The key point here is that blockchain, or individual nodes on the blockchain would verify if that event A happened to process reaction B. This would get rid off intermediaries and reduce costs.
It is a very simple process that happens simultaneously in thousands of blockchains. Also due to the existing technology, smart contracts provide extremely powerful computing power and new possibilities for everyone.
The main idea of smart contracts is to use blockchain technology not only to enforce a certain type of action, but also to automatically verify and facilitate it. These actions must be carried out automatically. When this condition is met, the system proceeds to the automated execution of transactions.
This system is useful in many fields, not only for banks. Blockchain's ecosystem has an advantage over classic transaction, contract and agreement process. Blockchain doesn't need a third party to verify transactions or contracts. This is one of the main reasons why Ethereum is successful and is becoming more and more popular.
How to use Smart Contracts?
Now that you know what smart contracts are, I would like to point out some areas in which this technology can be practically used. Please note that not all of these solutions can be effectively introduced into the markets.Let's think of automated payments or money transfer. "if the event A happen X amount of money has to be transferred to party B"
This technology would automate M2M (machine to machine) payments when it comes to Internet of Things. Where you drive your Tesla through the highway and the toll fee can be collected and verified automatically without you stopping.
Smart contracts will also allow us to replace traditional contracts.... think of rental agreements, labor agreements, etc.Thanks to smart agreements, we could automate the entire process related to traditional contracts.
Think of Sport Betting. All games and bets are in most cases conditional. If one team wins, you must pay X money to the user. Smart agreements will allow you to automate this process (no middle man to verify) and reduce the costs of bookmaking services, and increase their safety.
Considering everything I just wrote, it's easy to say that this unique technology will be quickly adapted by the market. The question is not whether this will happen, but when it will happen. Therefore, everyone should have fundamental knowledge about them and use their abilities!
What is Monero?
Monero (XMR) is a cryptocurrency that appeared for the first time on April 18, 2014. It is not known exactly who created it. Anyway, its creator probably withdrew from this project and now other people are working on it.
At the beginning, the cryptocurrency was called Bitmonero (in Esperanto it means exactly Bitcoin). At the beginning from the technical side the whole project did not function properly, but now everything looks much better. Recent upgrade improved processing and now transaction can be recorded on the ledger within one minute!
For the creators of Monero, anonymity is extremely important. Therefore, transaction addresses are hidden which makes it impossible to find their senders and recipients. What's more, Monero offers a system of confidential transactions, which allows you to hide the amount that is included in the transfer.
Interestingly, the developers of Monero did not specify what the maximum supply of this cryptocurrency should be. At present, almost 15 million coins have been extracted. When it reaches 18 132 000 coins, their production is to be reduced. It will be about 0.6 XMR every minute per block.
The Monero project has a good chance of success, because cryptocurrencies are still gaining popularity and due to anonymity. Monero is increasingly bought by investors, thanks to which its value is systematically growing.
Read the whitpaper
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