The Evolution Behind The Bitcoin Ecosystem

In a new performance, we showed that Bitcoin reached a transaction price of more than $1000 for the first time, and its rapid growth was driven by fraud (Gandal et al., 2017). We leverage a unique and very detailed dataset to examine the questionable trading work that took place over a ten-month period in 2013 on Mt. Gox, the leading Bitcoin currency at the time. We first quantify the full scope of the suspect/fraud transaction design and show that it forms a large part of the transaction during the event. We then demonstrated how this trading activity affected the rates at Mt. Gox and other exchanges.

Last but not least, crypto experts opinions can also be one of the most important reasons that can drive Bitcoin’s price. People who have pressured their stigmatize in the Bitcoin ecosystem can influence the price. They have more influence on how Bitcoin reacts to different situations. So, it’s always best to follow legitimate professionals “whos been” knowledgeable in Bitcoin investment.

As an answer, there is a high demand for Bitcoin investment, the more investors invest in it, and price predictions have liberated, saying the uptrend will continue for next year.

The cryptocurrency Bitcoin has attracted widespread curiosity, in a big area attributable to wild swing in its valuation. This editorial considers an earlier rise within the Bitcoin price to research what’s driving the currency’s price spikes. The 2013 rise was caused by fraudulent business taking place at the largest Bitcoin currency at the time. This discovering has implications for policymakers as they weigh what, if something, to do about cryptocurrencies regulation in gentle of the high Bitcoin valuations that many fear is a bubble.

The Bitcoin ecosystem has grown tremendously in recent times. While the principal sectors of progress and enterprise capital funding have been infrastructure for the Bitcoin ecosystem itself in addition to monetary providers, “there’s been” a more recent evolution in sectors beyond financial services. We group the venture-capital-backed start-up ecosystem accordingly and present its swelling over a period. Each sphere is further subdivided, and six representative venture-backed start-up companionships are presented in extensive purse studies.

Why should we care about the Bitcoin manipulation that occurred in 2013? After all, the Bitcoin ecosystem is not as important as the N. y. stock exchange. Nonetheless, the latest tendencies point out that Bitcoin is turning into a vital asset within the monetary system. While Bitcoin’s algorithm alters precautions against’ forging’ of the money, the ecosystem is still vulnerable to theft.

Users keep their keys to their Bitcoins and offset transactions with the assistance of Exchanges facilitating trade between Bitcoin and fiat currency and likewise, allow for storing Bitcoins. Bitcoins can be stolen through wallets or exchangesExchanges have been targeted more frequently than wallets because countless wallets are available on users local computers, while exchanges often store customer deposits in their own ( much larger) wallets.

If you want to succeed in trading, one of the most fundamental ways to trade is to follow institutional funds. Nonetheless, sometimes they can go wrong extremely. So, never invest madly; analyze carefully before investing in Bitcoin.

Reference

5 Dominik Bilgeri, “THE BITCOIN ECOSYSTEM: DISRUPTION BEYOND FINANCIAL

Price manipulation in the Bitcoin ecosystem

Cryptocurrency Best Bitcoin Wallets For Safe And Secure Storage Guide

The best Bitcoin wallets for safe and secure storage


The Nano S is essentially the same as its successor, the Nano X, minus a couple of features. Both support the same list of cryptos and have access to the Ledger Live software. Unlike the Nano X, Nano S lacks Bluetooth connectivity, and it only stores up to 18 wallets versus the 100 wallets that can be simultaneously stored with Nano X.



Coinbase

Is one of the easiest ways to buy, sell, and hold cryptocurrencies. With Coinbase, you can connect a U.S. bank account and easily transfer dollars in or out of your Coinbase investing and trading account. You can also use a standalone Coinbase wallet for mobile.


Robinhood

Mostly used as a mobile-first platform but has a desktop version, available on the web, too. And what really sets Robinhood apart is that it’s completely free to use. There are no commissions when buying or selling Bitcoin. Robinhood customers can currently buy, sell, and hold Bitcoin, as well as six other cryptocurrencies.

Exodus



While it is great for beginners, more advanced users may find it lacking in some features. First, Exodus is a closed source wallet. This goes against the ethos of the idea of Bitcoin and blockchain and can create some security concerns as its code is not open for everyone to see. Instead, users rely on the Exodus team to ensure there are no holes in the security of its wallet.


InstantPay



With InstantPay for Bitcoin Cash, payments move faster than Visa, Mastercard, and any cryptocurrency wallet out there. Simply set your spending threshold, scan the QR code, and your payment will auto-complete in an instant.

This digital exchange and online cryptocurrency wallet provider is great for people new to Bitcoin. It makes buying and selling very similar to buying and selling stock through your brokerage account. Coinbase trading accounts can hold at least 46 different tradable cryptocurrencies, including U.S. dollars and the Coinbase USD Coin, which is pegged to the dollar. Some coins can even earn interest.

2FA


Two-factor authentication (2FA) is a way to add additional security to your wallet. The first ‘factor’ is your password for your wallet. The second ‘factor’ is a verification code retrieved via text message or from an app on a mobile device. 2FA is conceptually similar to a security token device that banks in some countries require for online banking. It likely requires relying on the availability of a third party to provide the service.

Bech32

This a special address format made possible by SegWit. This address format is also known as ‘bc1 addresses’. Some Bitcoin wallets and services do not yet support sending or receiving to Bech32 addresses.

Full nodes

Some wallets fully validate transactions and blocks. Almost all full nodes help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.

Hardware Wallet

Some wallets can pair and connect to a hardware wallet in addition to being able to send to them.

While sending to a hardware wallet is something most all wallets can do, being able to pair with one is a unique feature. This feature enables you to be able to send and receive directly to and from a hardware wallet.

Legacy Addresses

Most wallets have the ability to send and receive with legacy Bitcoin addresses. Legacy addresses start with 1 or 3 (as opposed to starting with bc1).

Without legacy address support, you may not be able to receive bitcoin from older wallets or exchanges.

Lightning network

The Lightning Network is new and somewhat experimental. It supports transferring Bitcoin without having to record each transaction on the blockchain, resulting in faster transactions and lower fees.

SegWit

Some wallets support SegWit, which uses block chain space more efficiently. This helps reduce fees paid by helping the Bitcoin network scale and sets the foundation for second layer solutions such as the Lightning Network.

Reference

Best Bitcoin Wallets of 2021

Bitcoin Wallet | Store Bitcoin Cash (BCH) & Bitcoin (BTC)

Choose your wallet

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Mobile Wallet Definition and Apps Pay Without Even Taking Your Mobile Device Out Of Your Pocket

 

Mobile payment (also known as mobile money, mobile money transfer, and mobile wallet) usually refers to payment services that are operated in accordance with financial rules and performed from or via mobile devices. Consumers do not have to use cash, checks, or credit cards to pay, but can use mobile phones to pay for various services and digital or hard goods. Although the concept of using non-monetary currency systems has a long history, it was not until the 2000s that the technology to support such systems became widespread.

 

Mobile wallet app

 

Customers must upload all credit and debit card information to the digital account before they can use the high-tech wallet in the store. They then link the account directly to their smartphone by downloading the provider’s mobile wallet app. Once you have installed the mobile wallet app, you can place your phone on the NFC reader in the store to make a payment.

Offline signature threat wallet is used as an observation wallet and can access the Internet, but has no private key. The cold wallet isolates the network and performs offline signatures via QR codes. Social restoration configures an account recovery plan through social relationships. If you forget the account, you can use it to recover the lost account for social conditions. A recording is convenient for viewing accounts and tracking information.

 

Mobile wallet

 

For users using non-NFC devices, Square payments is another option. Square is a mobile app that allows users to pay with smartphones via Wi-Fi networks, which means you can pay without even taking your mobile device out of your pocket. When you arrive within 100 meters of the participating trader, your photo will automatically appear in the trader’s register. Then you only need to say your name to verify your identity to make the payment.

Freely transfer assets to any account on the network. Support QR code search quickly enters the receiving account address. Receive the QR code or copy the address of the other party and check if the visit is received by displaying real-time data in the chain.

Polkadot Mobile Wallet

The Polkawallet provides a more intuitive and comfortable starting point for participating in the steering. If it is a new referendum/proposal, the user will be reminded and you can see the details.

Users can have a direct guide from Polkawallet and show the history register. Therefore, the Polkawallet can also increase participation in the public referendum. Interaction applications for chain information are emerging. Polkadot can achieve interoperability between chains, regardless of its function or the state of the private or public chain. Interoperability enables different chains to execute arbitrary messages, including value.

This interconnection may include classified items, branches, authorized chains, and so on. Polkawallet will follow in Polkadot’s footsteps and continue to expand the chain ecosystem, which is a module in the near future. It will quickly integrate appropriate cross-chain applications, and we believe it will be colorful.

Cross-chain messaging (XCMP) support can be run in Polkawallet so that transactions initiated in mobile wallets between different parachutes can be interacted with. User-friendly users do not have to face complex call tasks in several chains, and the whole process is concise and traceable. The application interaction between different parachutes in the application field will have effects and accelerate the development of ecological applications.

 

 

 

 

 

Reference

The 12 Most Important Tips for Safer Trust Deed Investments,

Just the day prior to this the Feds raised their rate. Experts predict that many individual lenders together with accept as true with deed buyers who lend loans based totally on belongings – called home fairness line of credit score (i.E. HELOCs) – will see their loans can-kicked.

So if you are believe deed investor what can you do to guard your finances?

Tips

1. Take time to study and make yourself familiar with every object contained inside the initial identify file that is issued shortly after the escrow is opened. This record (otherwise called a pre-lim) incorporates gadgets so that it will need to be removed as a condition of your funding this new agree with deed loan investment. Many investors want to study the pre-lim to emerge as acquainted with the homes easements, tests, mineral rights, assessed valuation and so forth. Some of those phrases may be eliminated afterward when you benefit manipulate of the assets; some not. You may like to see its contents.

2. Have you devoted to the shortest viable mortgage term? Trust deeds which are funded for too long are greater volatile since they can be hard, high-priced, or impossible to liquidate in case of an emergency. Many buyers fund for no longer than a 12 months. Deeds are safe in that they may be liquidated inside the occasion of an emergency for full face cost. Other buyers have found that funding loans for two or three years seems to work excellent.

three. Never make any loan extensions, extra advances, modifications or other modifications of any kind to an current real estate mortgage with out first obtaining written approval from other minor lien holders of document. You can lose your investment and be sued for this even in case you have been unaware that any such lienholder existed.

four. Go down and test that property yourself even though although other parties – which includes the broker, appraiser and title organisation – have already looked at it. After all, it’s your cash which you’re loaning to fund it.

five. Did you use as many approaches to price as viable to fee the constructing? There are diverse methods of gauging the properties’ marketplace price and you can want to apply a variety to envision which you’re making a wise funding. Here are a few indicators of price that you may want to use:

  • examine the appraisal
  • ask your realtor for records on closed income of comparable residences
  • test the tax assessor’s opinion of value on the pre-lim.
  • don’t forget the assets’s really worth to you in case you were to shop for it these days.

6. Do you know how the borrower plans to pay off the mortgage? You may additionally find yourself in problem if you have not inquired. Aside from which, federal and customer safety laws insist which you inquire otherwise you can find your self sued and your consumer may exonerate himself from the transaction.

7. Many buyers endorse that your LTV hovers round 60% LTV (Loan To Value Ratio) to 50% LTV. Do not exceed that as collateral for any money you lend in any other case your transaction may additionally well come to be being unprofitable.

8. Did you simplest use “existing” enhancements to establish the homes contemporary price? You can be mistakenly inclusive of promised or hypothetical enhancements into your calculations. Many starting investors fall into the lure of arranging loans primarily based on guarantees of destiny improvements (that both never arise or cross miserably off-route). We hop you do not fall into the entice.

9. Have you included all crucial clauses? Do you realize who will hold the unique observe and deed of believe? Have you included that? Your broker can’t. (In California this is illegal).

10. Did you require the purchase and pre-price of twelve months fireplace coverage top rate paid in full? Have you finished this escrow? Caution: Coverage will be cancelled in case you permit the borrower to write down a take a look at for it out of doors escrow and her take a look at bounces!

eleven. Always send a 90 day observe of balloon price to all debtors one hundred twenty to one hundred fifty days prior to the date in their balloon fee. This isn’t always essential but saves you a good buy of hassle and may save you you from being sued.

12. Has the organisation’s proprietor also signed individually for the mortgage on a non-public guarantor shape? The borrower’s motivation to walk away with out repaying you is probably hindered if his own name is tagged with that of the corporation. It also right away separates the debtors you need from those you do not.

Bonus…

Finally, always but always, run intensive tests on property price and on background and worthiness of these you wish to loan to. Can they pay off you? If so how? Is belongings worthwhile? Will it repay your proceeds? Running these assessments will involve time, but can by no means harm… You’ll quit with a safer consider deed investing experience.

The pandemic year ends with a tokenized carbon cap-and-trade solution

It has been a blazing start to a new decade, with 13% more large, uncontrolled wildfires around the world this year compared with 2019. This has spelled dire consequences for CO2 levels, which have made worse a terrible COVID-19 pandemic that has led to unprecedented worldwide lockdowns that have rapidly pushed the economy toward digitization.

Related: How has the COVID-19 pandemic affected the crypto space? Experts answer

As a result of the COVID-19 pandemic, governments around the world have been forced to focus on integrating blockchain technology into their financial services. At the 75th anniversary of the United Nations General Assembly, Sky Guo, a founding member of the Official Monetary and Financial Institutions Forum and co-founder of Cypherium — an enterprise-focused platform facilitating interoperability between blockchains and central bank digital currencies, or CBDCs — discussed how the next generation of foreign policy leaders can leverage emerging digital technologies to solve the world’s most pressing challenges, given that 80% of world central banks are evaluating adopting CBDCs.

Related: Not like before: Digital currencies debut amid COVID-19

Switching to CBCDs and a world financial infrastructure that heavily relies on blockchain technology can nevertheless have a formidable impact on CO2 levels all over the world if the electricity used for energy is produced from coal or other fossil fuels that cause the highest levels of CO2 and other greenhouse gas pollution.

Related: The need to report carbon emissions amid the coronavirus pandemic

According to the study “The Carbon Footprint of Bitcoin,” conducted by researchers from the Technical University of Munich and MIT, Bitcoin (BTC) mining alone generates between 23.6 and 28.8 megatons in CO2 emissions each year, which contributes to climate change. The world’s CO2 levels hit new highs last year, a trend that is expected to repeat itself in 2020 despite coronavirus-related lockdowns that have forced a global industrial slowdown, according to a recent report published by the World Meteorological Organization.

In the time of the global pandemic, the economy will continue to digitize. So, the best way to avoid climate change is by adopting a climate policy that limits emissions and puts a price on them, according to the Environmental Defense Fund.

Carbon credits and markets are frequently incorporated into national and international efforts to mitigate increased concentrations of greenhouse gases in the atmosphere by putting a price on them. Experts often debate the pros and cons:

  • A carbon tax directly establishes a price on greenhouse gas emissions, so companies are charged fees that accumulate for every ton of emissions they produce.
  • A cap-and-trade/energy-trading system issues a set number of emissions “allowances” each year that can be auctioned to the highest bidder as well as traded on secondary markets, thereby creating a carbon price.

Blockchain technology can be used to track carbon credits — a generic term for any tradable certificate or permit representing the right to emit one ton of CO2 — to reduce environmental pollution and carbon emissions, according to the report “Blockchain of Carbon Trading for UN Sustainable Development Goals.”

World’s first tradable carbon token

The Universal Protocol Alliance, a coalition of leading blockchain companies and crypto firms, launched the world’s first tradable carbon token on a public blockchain, dubbed Universal Carbon (UPCO2). It can be bought and held as an investment or burned to offset an individual’s carbon footprint. Each token represents one year-ton of CO2 emissions that have been prevented by a certified REDD+ project preventing rainforest loss or degradation. It is backed by a Voluntary Carbon Unit, a digital certificate issued by Verra — an international standards agency — that enables projects to turn their greenhouse gas reductions into carbon credits that can be traded.

As Juan Pablo Thieriot, co-founder of the UPA and CEO of Uphold, explained:

“This year may go down as the key inflection point for climate change. The year it went from a far-off issue enshrined in distant accords like Kyoto and Paris, to an existential threat affecting the lives of tens of millions of people. In recent months, we’ve seen Australia and California on fire, ever more powerful hurricanes, the U.S. president-elect Joe Biden announcing a Climate Administration, and companies such as Apple, Microsoft, and Nike voluntarily committing to carbon neutrality.”

He also added that “Combating climate change is likely to become the dominant economic issue of the next 20 years.”

The UPCO2 token could lead to the establishment of a global clearing price for tokenized carbon credits by allowing market mechanisms to drive industrial and commercial processes in the direction of low emissions or less carbon-intensive approaches, as the supply of carbon credits in 2020 has only represented 22% of global greenhouse gas emissions, according to the World Bank.

Cap-and-trade programs of the top six CO2-emitting countries/regions of the world

Cap-and-trade programs use market forces to reduce emissions cost-effectively. This stands in contrast to “command-and-control” approaches where the government determines performance standards or technology choices for individual facilities. It also differs from a carbon tax in that it provides a high level of certainty about future emissions but not about the price of those emissions (carbon taxes do the inverse).

With cap-and-trade programs, the market determines a price on carbon, which drives investment and market innovation. It is the preferable policy when a jurisdiction has a specified emissions target, such as set by the Paris Agreement. There are a number of studies that have reviewed the success of cap-and-trade programs by identifying some key issues from the top six CO2-emitting countries/regions in the world.

China

China launched the initial phase of a national carbon market in 2017 with help from the Environmental Defence Fund to limit and reduce CO2 emissions from factories and other industries in a cost-effective manner. This year, China’s Ministry of Ecology and Environment moved closer to completing the launch of the market, releasing draft rules — in addition to registry and settlement regulations — for its national energy trading system.

The emissions trading scheme, or ETS, will initially cover coal- and gas-fired power plants.

Based on the plant’s power generation output, it will allocate allowances, or permits, and each fuel and technology will have different benchmarks. The ETS is expected to be the world’s largest and expand to seven additional sectors, covering one-seventh of worldwide CO2 emissions from fossil fuels. A report by the International Energy Agency dubbed “China’s Emissions Trading Scheme: Designing efficient allowance allocation” makes policy recommendations for China’s ETS.

Related: How the biggest CO2 polluter is becoming the world’s leading producer of solar panels

United States

Efforts in the United States to create a nationwide cap-and-trade system in 2009 proved unsuccessful. Instead, 10 states now participate in the Regional Greenhouse Gas Initiative, a cap-and-trade program established in 2009, while California has operated a cap-and-trade program since 2013 that is linked with a program in Quebec, Canada.

A study published by the Harvard Project on Climate Agreements dubbed “Carbon Taxes vs. Cap and Trade: Theory and Practice” argues that an economywide carbon pricing system is essential for any U.S. national policy that seeks to achieve meaningful, cost-effective reductions in CO2 emissions. Another study by the World Resources Institute titled “Putting a Price on Carbon: Reducing Emissions” finds that a well-designed carbon tax or cap-and-trade program could be the centerpiece of U.S. efforts to reduce greenhouse gas emissions.

Related: Is US environmental tax policy hindering solar power to fuel digital technologies?

European Union

The European Union has the world’s first, and its largest, major carbon market. Its ETS is at the core of its policy for fighting climate change, and it is one of the most important tools at its disposal for the cost-effective reduction of greenhouse gas emissions.

A study titled “Personal carbon trading: a review of research evidence and real-world experience of a radical idea” points out that personal carbon trading, a catch-all term for multiple downstream cap-and-trade policies, is an innovative CO2 mitigation approach. It seeks to limit a society’s carbon emissions by engaging individuals in the process, and it is able to cover over 40% of national carbon emissions by combining various mechanisms to drive socioeconomic and psychological behavioral change.

Another study dubbed “The European Union Emissions Trading System reduced CO2 emissions despite low prices” points out that the prices produced by carbon markets are often considered too low relative to the social cost associated with carbon, but nevertheless, the EU’s ETS resulted in a 3.8% reduction of total EU-wide emissions.

Related: Green policy and crypto energy consumption in the EU

India

In 2019, the Indian state of Gujarat launched the first-ever emissions trading system for particulate pollution. It serves as a pilot for the rest of India, as well as the world, and a means of reducing air pollution and facilitating economic growth. Additionally, leading companies in India set up their own carbon pricing mechanisms in a three-phase process. India’s emissions trading systems were reviewed in a report prepared by the Environment Defence Fund titled “India: An Emissions Trading Case Study.”

Related: India is fostering a solarized digital future

Russia

Currently, there is no cap-and-trade carbon pricing mechanism in Russia. A study dubbed “Carbon Tax or Cap-and-Trade for Russia? Evidence from RICE Model and Other Considerations” states that Russia should select a carbon tax over a cap-and-trade system due to political, economic and historical factors, but it concludes that Russia is unlikely to take decisive action to tackle climate change in the near future.

Related: Russia leads multinational stablecoin initiative

Japan

Japan has had a cap-and-trade program in place for Tokyo since 2010. A study titled “The impact of the Tokyo emissions trading scheme (ETS) on office buildings: what factor contributed to the emission reduction?” evaluates Tokyo’s ETS, which was the first emissions trading program for greenhouse gas emissions from office buildings.

While the government of Tokyo called the ETS successful, not everyone believes that it was the driving force behind the nation’s emission reductions. Some have argued that it was actually due to the Great East Japan Earthquake in 2011, which resulted in increased electricity prices. In the aforementioned study, researchers conducted an econometric analysis using a facility-level data set for Japanese office buildings, finding that half of the emission reduction resulted from the ETS, while the other half was a result of the electricity price increases.

Related: Japan to solarize its burgeoning digital economy

Conclusion

As Patricia Espinosa, executive secretary of the United Nations Framework Convention on Climate Change, pointed out: “COVID-19 hasn’t put climate change on hold.”

And as Alexandre Gellert Paris of the UNFCCC explained:

“As countries, regions, cities and businesses work to rapidly implement the Paris Climate Change Agreement, they need to make use of all innovative and cutting-edge technologies available. Blockchain could contribute to greater stakeholder involvement, transparency and engagement and help bring trust and further innovative solutions in the fight against climate change, leading to enhanced climate actions.”

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Selva Ozelli, Esq., CPA, is an international tax attorney and certified public accountant who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD.

 

Source link

The Future of Payment Processing and Technologies

 

It’s possible that your companionship is not going to make it alone. Competition from larger firms, buyouts, or a lack of innovation is just some of the above reasons you may not survive. The likes of Google, Amazon, and Facebook, do not owe their success alone to their inhouse technology — they supplant because they frequently are associated with others, including fintech, to expand their reach and influence.

In the future, banks will take on more and more digital payment trends and introduce multiple options for customers to make payments. A few illustrations include Pay By Text, mobile apps, virtual payments, interactive voice response, recognition and debit cards, and automated clearing of live remittances, which do away with paper checks.

Payments

The role of corporate treasurers is expanding- and “they’re expecting” their banks to change too. Moving away from transaction-based pricing, banks will provide value-added services to differentiate themselves in the market. Treasury services providers will need to adapt and surmount new digital implements and capabilities if they are to offer corporates the differentiated works they expect. This includes faster onboarding operations enabled by AI and technological solutions and access to accurate, real-time information that helps track payments, develop dynamic money forecasting, improve reporting, and drive better decision making.

You don’t have to be Google to implement the latest tech; the right software partner may be just what you need to stay within budget and start needed varies. DataArt is a great example of a leading software engineering consultancy that enables you to create and adopt the latest fabrications, including blockchain, portable APIs, digital scaffolds, and other digital solutions.

Currently, the largest and most successful technology acquiring international remittances possible is the blockchain. This technology introduced Bitcoin and over 3,000 other cryptocurrencies around the world. It is essentially a shared ledger, where a structure must approve every deal of computers before it is recorded. Once substantiated, the record can no longer be edited.

blockchain technology

Using this newfound insight, banks and credit union will get the advantage of being able to create driven and focused sell that speaks to the proven be necessary for their placard members. By enticing customers to activate and increase their card utilization, societies stand to gain full income capacity and maximize their firebrand reach. Furthermore, the benefits provided by a knowledgeable pay processor can help ease the burn on staff and free up time and resources that can be focused on other important swelling areas of the institution.

Economics, coin, and the path we make payments have experienced various deepens since the time of the Stone Age. In a sense, all these are key indicators of our progress as a genu. The primitive approaches expressed our primitive path of living. Similarly, the current payment methods powered by cutting edge technology boast our technological achievements of today.

People seek the most straightforward route to completing their tasks, and current trends driveability. Money wiring paths become easier to embed in apps and other APIs, placing payment technology vogues worldwide.

There are still many issues regarding a shift toward a largely cashless economy to iron out. These include, but are not limited to, technological difficulties surrounding digital infrastructure, cybersecurity, data collection/ privacy regulation, and marginalization of money consumers. Nonetheless, we see that the FinTech innovators around us are trying to solve every challenge with their tech.

 

 

 

 

 

 

 

Reference

Beyond PayTech – The Future of Payments
Future of Payments: 9 Payment Trends Altering 
FutureLearn 2461, The Future of Payment Technology.
Seven themes impacting the future of payments
The Future of Payment Processing and Technologies
Top 8 Digital payment trends for 2020 

Essential Blockchain Technology Concepts You Need To Know

Transformation scenarios take off in the end, but they will also provide enormous value. They can have a profound impact in two ways: large public identification systems for functions such as passport control and algorithm-driven decision-making to prevent money laundering and complex financial transactions involving many parties. We hope that these applications will not be widely accepted and reach critical mass in at least a decade or more.

In a blockchain system, the general ledger is replicated in a large number of identical databases, each hosted and maintained by an interested party. When changes are made to a copy, all other copies are updated at the same time. So when transactions occur, the value and assets that are exchanged are recorded permanently in all general ledgers. There is no need for third-party intermediaries to verify or transfer ownership. If a stock transaction took place on a blockchain-based system, it would be settled within seconds, securely and verifiably. (The infamous hackers who have hit Bitcoin exchanges revealed weaknesses not in the blockchain itself but in separate systems linked to parties using the blockchain.)

Essential Blockchain Technology Concepts You Need To Know 1

Smart contracts can be used to represent almost anything – electronic inventory receipts, bonds, invoices, units, currencies, currency units, forward contracts, risk sharing, etc. Users in the network can create, trade, and settle these cryptographically unique assets in real-time. Every smart contract can be written to include almost any type of business logic. The business logic can be applied automatically according to the terms of the agreement.

Blockchain – a peer-to-peer network on the Internet – was introduced in October 2008 as part of the Bitcoin proposal for the virtual currency system

This avoids a central authority issuing currency, transferring ownership, and confirming transactions. Bitcoin is the first application of blockchain technology.

Vision: IT in India looks for new opportunities after Covid-1911 on June 11, 2020. 15.41 IST Stanford Professor Nicholas Blom’s research shows that work from home can improve performance by 13%, reduce wear, and even affect the company’s recent research has yielded similar results. A software development company called Metova reported that 50% of its employees said they work more from home than in the office.

Getting into the last quadrant are completely new applications that, if successful, can change the nature of economic, social, and political systems. They are about coordinating the activities of many actors and reaching institutional agreement on standards and procedures. Their adoption will require major social, legal, and political changes.

We have developed a framework for mapping innovations based on these two contextual dimensions and dividing them into quadrants. (See the exhibition “How Basic Technology Works.”) Each quadrant represents a stage of technological development. Decide which blockchain innovation belongs helps managers understand the types of challenges, the degree of collaboration and consensus required, and the required legislative and regulatory work. The map will also suggest the types of processes and infrastructure that need to be adopted to facilitate the adoption of innovations. Managers can use it to evaluate the development of blockchain in all industries, as well as to evaluate their own strategic investments in blockchain functions.

 

Essential Blockchain Technology Concepts You Need To Know 2

 

The development of replacement applications requires careful planning as existing solutions can be difficult to solve. A sustainable method can be to focus on alternative products that do not require end-users to change their behavior, but that offer alternative to expensive or unattractive solutions. In order to attract people, alternative products must have as good functions as traditional solutions and be easy to absorb and adopt for the ecosystem. First data’s transition to blockchain-based gift cards is a good example of a well-thought-out alternative.

Retailers who provide it to consumers can significantly reduce the cost of each transaction and increase security by using blockchain to track currency flows in their accounts without having to rely on external payment processors. These new gift cards can even transfer balances and transaction functions between merchants via a general ledger.

 

 

Reference

6 Essential Blockchain Technology Concepts You Need To Know
Blockchain technology: Latest News & Videos, Photos about
The Truth About Blockchain 

How to earn a profit mining Bitcoin and Ether

 

For the past several months, miners around the world have been extremely active, which can be seen through spikes in hash rates that coincided with a significant increase in the prices of cryptocurrencies. At the beginning of 2020, Ether (ETH) could be bought for $130, and now, ETH has reached $500. The king of cryptocurrencies, Bitcoin (BTC), added almost a cool $10,000 to its price.

So, how can users engage with the industry? What has been obvious for some time now is that solo mining is not the way to go. For Bitcoin, Ether and every major altcoin, the blockchain is built in such a way that the complexity of finding blocks is constantly increasing, which means that a pair of GPU cards is not powerful enough to generate one block.

The point is not that the rig is insufficiently powerful to mine Ether, rather it’s impossible mathematically. One rig can sit there searching for a block for several months. If we are talking about mining Bitcoin on ASICs, then it will take even more time. It’s easier to go bankrupt on equipment and electricity than to mine crypto solo. The calculation is simple: divide the total hash rate of Ether by your hash rate and get the number of seconds it will take on average to find a block.

So, it seems logical that miners would flock to mining pools, especially today, as even non-mining companies are starting to launch such products. For example, Binance recently launched its own mining pool for Ether.

What to know before joining a mining pool

A mining pool is a server that combines the computing power of all the participants connected to it. Miners join the pool over the internet, reallocating their hardware to the pool. They jointly perform mathematical solutions to find blocks of a specific cryptocurrency. When the pool finds a block, the pool obtains a consensus from other network participants, then receives a reward. This reward is shared among all members of the pool in accordance with the amount of hash rate provided.

Before choosing a pool, it’s important to know the size of the pool. When a pool grows, the chances of discovering a block increase. But the more people join the pool, the less profit each participant receives. This is a double-edged sword: small but frequent payments, or bigger payments, but less often.

Before joining the pool, users need to find out the minimum payment, which is the minimum amount of crypto that must be mined before it will be sent to the users’ wallet. If the minimum payment is high, then the user will have to be part of the pool for a long time before receiving any income.

Another important thing that should be mentioned is that participation in any pool is not free. Users pay a certain percentage of their income for participating. Usually, such commission varies from 1% to 3%. In general, participation in any pool does not require serious investment and knowledge, and if the user has already put together a rig, then it will not be difficult to figure out which pool to choose. Here is what to pay attention to when choosing a pool, regardless of the cryptocurrency mined:

  • The number of participants in the pool, which affects individual income.
  • Ping time, or time delay, which is a result of the user’s computer needing to transfer information to the pool. Ping time depends on territorial distance — the lower the ping, the lower the time delay and the faster the data is transferred. A high ping is not appropriate because there are pauses between block changes in cryptocurrency networks, and with high ping, the user’s computer can go over the values ​​for the old block and mine in vain. Usually, a comfortable ping is up to 10 milliseconds;
  • The size of minimum payout, which should not be too large, otherwise the payment may not take place for a very long time.
  • There are many pools that are fraudulent or take a larger amount of income. Users need to find out the pool’s reputation in advance.

After constructing a rig, it’s time to choose a mining pool. Of course, most of the pools work for Bitcoin or Ether mining. Below are some of the most popular pools used to mine the top two cryptocurrencies. For Bitcoin, almost all the main pools are based in China, which is not surprising, as the country produces most of the Bitcoin mining hardware.

F2Pool

Founded in 2013, F2Pool is one of the oldest Chinese pools, and it’s of primary interest for Bitcoin miners. The pool accounts for almost a fifth of the total amount of BTC mined. The pool uses Pay Per Share+, or PPS+, as the payout model in which the miner receives a reward for each share accepted by the pool, regardless of the blocks found by the pool. The pool determines the cost of each share independently, taking into account the network complexity, reward, block time and the pool’s own power.

In addition to Bitcoin, the pool mines more than 40 coins. The commission, depending on the coin, ranges from 1% to 5%. As for Bitcoin, the pool takes 2.5% of the rewards as a commission, and payments are made once per day. Users must withdraw the earned money within 90 days, otherwise the pool will keep it for the development of the service.

Poolin

Poolin is a pool owned by parent company Blockin that launched in 2017. The pool is popular among Bitcoin miners. Poolin offers quite a few coins to choose from: Ether, Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC) and so on. Commission fees are not fixed; rather, they are set for each cryptocurrency separately, with a 2.5% fee for BTC.

The payment model depends on the chosen coin: PPS or Full Pay Per Share, known as FPPS. Under the latter method, the pool also distributes transaction fees among miners, which adds 10% to 20% to their income. This method is used to pay for Bitcoin mining.

A notable feature is that Poolin provides mining on ASICs and GPUs from Nvidia and AMD. The development team regularly updates the software every couple of weeks to ensure the stability of the service.

BTC.com

BTC.com is one of the largest international cryptocurrency mining pools. It’s controlled by well-known manufacturer of mining equipment Bitmain, which produces a line of ASIC miners under the Antminer brand. The China-based platform was launched in 2013.

The commission for each block mined by the pool is set at 4%. Besides Bitcoin, a number of other cryptocurrencies can be mined through BTC.com, including Bitcoin Cash and Litecoin. Mining pool representatives keep records of its users’ income.

AntPool

AntPool is a Chinese project that was launched in 2014. Just like BTC.com, the pool is controlled by Bitmain. In addition to BTC, AntPool can mine seven more cryptocurrencies, including the privacy-oriented coins Dash and Monero (XMR).

Payments are made daily, and the service has low commissions, with some payments made with zero fees. In AntPool, payments are mainly made using the standard method, Pay Per Last N Share — or PPLNS — in which users get payments for the last share based on pool luck.

With this method, there is no fixed payment for the share, and the main issue is the speed of finding a block. When a pool uses the PPLNS method, the payment comes from “time shifts” between searching two blocks. It means that if the block is not found for a long time, the payment gradually increases.

A distinctive feature of the pool is the ability to work in “solo” mode — but not in the literal sense. The pool makes it possible to carry out “solo” mining through joint efforts. This means that the user whose rig has discovered the block will receive the payment.

SparkPool

SparkPool is registered in China and was launched in January 2018, and half a year later, the pool has entered the list of leaders in mining Ether. Additionally, SparkPool allows the mining of coins such as Nervos’ Common Knowledge Base (CKB), Grin, and Beam.

Mining takes place using the Ethash algorithm, and payments occur using the PPS+ method. Payments are made every day, based on Singapore Standard Time, and the minimum amount for payments is 0.1 ETH. On the 28th of every month, funds are withdrawn automatically if the balance is more than 0.0105 ETH, and the withdrawal fee is 1%.

Registering with the pool is optional. Users can mine anonymously, but if so, not all the functions of the pool will be available.

Ethermine

Ethermine is one of the most popular pools dedicated to Ether mining. This pool is the largest for Ethereum. Pool servers are located in Europe, Asia and the United States.

The pool uses the PPLNS payout model. The minimum payment amount is the equivalent of 0.5 ETH, and the maximum amount is 10 ETH. There is no commission for the withdrawal of funds, and payment comes instantly if the blockchain network is stable. The pool is intended only for mining cryptocurrency on GPU processors.

SpiderPool

SpiderPool is a five-year-old Chinese project that only supports four coins: ETH, BTC, BSV and BCH. Nevertheless, the pool is quite popular among Ether miners.

There is not much information available for non-Chinese users, but the pool’s commission is 2%. The minimum payout amount depends on the coin, but once per week, users can apply for an amount that is below the minimum threshold. Otherwise, payments are made automatically once per day.

Nanopool

Nanopool specializes in coins that are mostly mined using GPU cards. Currently, Ether, Ethereum Classic (ETC), Zcash (ZEC), Monero, Ravencoin (RVN) and Pascal (PASC) mining are supported. The pool allows users to mine not only a single cryptocurrency but also two different cryptocurrencies simultaneously, with a proportional distribution of power between them. Like any other mining pool, Nanopool has a fee that is charged based on the income of its users. The pool uses the PPLNS payment method.

Withdrawing Ether from a miner’s account balance to their wallet is carried out in Nanopool automatically when the minimum payment is reached, which is 0.05 ETH.

Nanopool does not have a clear payment schedule, but payments happen in several stages throughout the day. As soon as the miner’s account balance exceeds the set minimum value, it will be paid during the next round of payment.

To mine or not to mine?

When choosing a pool, each person should pay attention to the list of available coins to make sure their coin of choice is on the list. Also, consider the payout and commission model, as a pool that offers the lowest commission and pays for transactions is preferable. Another issue is the proximity of the pool servers: the closer the server, the more stable the mining process will be.

Related: The top crypto-mining graphics cards to get a big bang for your buck

In general, it can be said that no matter what coin the user chooses, they are unlikely to lose out when using a mining pool. According to Chun Wang, co-founder of F2Pool, the entire mining industry is currently on the rise:

“Bitcoin and other cryptocurrencies mining are continuing to grow, just the same as last year. Thanks to DeFi, there has been a period of high transaction fees in the ETH network in the past few months, leading to the ETH mining revenues much higher than usual. People were attracted to buy related mining machines to mine ETH. With the decline in mining revenue, miner’s passion for ETH mining participation fades recently. But BTC and other coins’ price rising rapidly makes mining more profitable, more people are willing to participate in mining now.”

 

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Blockchain voting is the alternative for trusted democratic elections

 

The COVID-19 pandemic has impacted people’s lives, the relationship between governments and citizens, and the entire world economy, and of course, it has had a major impact on the United States presidential election.

Due to social isolation, a large number of American voters opted to vote by mail, which increased vote counting time, led candidate and acting President Donald Trump to judicialize the electoral process with actions in several states, and triggered intense debates about the veracity and legitimacy of the current American electoral system.

Related: Blockchain voting systems could be the future, but current flaws persist

The current voting system in the digital age

Currently, many have proposed “mobile” voting as an alternative more compatible with current times, allowing people to vote without leaving their homes.

We are able to shop online, there are professions that are performed 100% remotely — which has intensified with the current pandemic — but electoral participation still needs to be exercised in person and in a specific location.

Now, does this not go against the digital age where information and technology serve as facilitators of communication, data transfer and business transactions?

How does one make mobile, or remote, voting possible without compromising the security of electoral participation? The addition of blockchain solutions to the mobile voting process can give confidence to the electoral system and bring peace to the electoral process.

Related: Electronic voting with blockchain: An experience from Naples, Italy

The combination of sequential hashing and cryptography in a distributed structure allows for the protection of voters’ identity and the verification of absolutely all votes entered in the blockchain platform, which can enable secure and transparent voting mechanisms with electoral vote monitoring.

Imagine how good it would be to check if your vote was actually counted for the candidate chosen by you, with the absolute guarantee of the secrecy of your vote? All of this is possible with blockchain technology.

Related: The promise and reality of blockchain’s role in global elections

American electoral jurisdictions and blockchain-based pilot projects

Electoral jurisdictions in several U.S. states have tested mobile-application-based blockchain voting for state, federal and municipal elections — primarily to enable remote voting by military and civilian residents abroad via smartphones and tablets, rather than the traditional and mail, fax and paper methods.

West Virginia, for example, enabled mobile voting via blockchain for its state and federal elections back in 2018. Denver, Colorado; Utah County, Utah; and two counties in the state of Oregon also tested pilot projects for their 2019 municipal elections. In total, 29 counties in five states tested Voatz’s mobile voting app in official elections.

In all of the examples mentioned above, to the surprise of many and according to the authorities responsible for voting via blockchain, the electoral process proved to be easier and more accessible.

For that reason, there are already advocates of the use of blockchain in American elections.

The positions of American political personalities on mobile voting

As a result of the good performance mentioned in the previous paragraphs, there are already notable figures in American politics raising the banner of blockchain mobile voting, such as Bradley Tusk — an American businessman, philanthropist, political strategist and founder of Tusk Philanthropies; Mike Queen — deputy chief of staff to the West Virginia Secretary of State; and Jocelyn Bucaro — director of elections in Denver.

But because we are living in the age of polarization, there are also people strongly against mobile voting, including voting via blockchain. In that sense, we can refer to Jeremy Epstein, a member of the Association for Computing Machinery’s US Technology Policy Committee. Here, it is important to note that Epstein — who was a vice chair of the committee at the time — co-authored an electoral security report titled “Email and Internet Voting: The Overlooked Threat to Election Security,” which was developed in conjunction with Common Cause, the National Election Defense Coalition and the R Street Institute.

The report points to blockchain and internet voting as a target for online attacks by foreign intelligence, saying the transmission of ballots over the internet — including by email, fax and blockchain systems — makes them vulnerable.

Despite the pros and cons, are there solutions already in place that can protect citizens from electoral fraud? How would identity verification be used in the process? What projects and solutions can we think of implementing for identity verification in the voting process, and how would they work?

A blockchain solution that can enable a virtual election in the U.S.

The Voatz application, for example, looks for vulnerabilities and signs of commitment or vulnerability from the start. If the app finds that a smartphone has been compromised, it does not allow the user to vote. If the application passes security tests and third-party tools linked to it, the voter is authenticated on their mobile phone by a fingerprint or facial recognition.

The voter then provides their government identification, usually a driver’s license or passport, and takes a selfie for further authentication. Finally, the voter touches the fingerprint reader of their cell phone to verify that the smartphone is actually in the voter’s hands. In this step, the Voatz application combines the selfie taken by the voter with the image of the identity document and, after rechecking all the registration information given, confirms that the voter can vote.

Voters can use their own additional authentication factor, such as an Apple Watch, Google Authenticator or a YubiKey. And if they wish, they can still receive an SMS message or email as an additional authentication factor.

Cybersecurity in a blockchain vote

Regarding cybersecurity, as “all” software has vulnerabilities, it cannot be ignored that denial-of-service and distributed denial-of-service attacks are legitimate risks in a mobile vote. Therefore, it is important to look for backup methods for possible infrastructure failure in the case of a DoS attack on the mobile voting system.

The blockchain part of the process is the least worrying in terms of security. It is just one component of the voting process, which also includes the steps of identity security, verification and validation.

Blockchain, in the case of Voatz, is for the specific application for which it was built: to distribute voting records so that it is more difficult to attack remotely. It also has cryptographic audit evidence of each transaction.

The main security risk in voting via blockchain is in the interface with the electoral jurisdiction, where the ballot is also printed with a hash or encrypted key on top. After it is stored, it is finally digitized in the election systems and software ballot-reading systems. At this stage, the electoral process “is out of reach” for Voatz.

In addition to cybersecurity issues, another point in a blockchain vote that has been questioned is: How would the voting book be processed and the ballots verified in a blockchain solution?

Taking the Voatz app as an example again, it uses a 32-node blockchain infrastructure on Amazon Web Services and Microsoft Azure, each hosting 16 nodes in the United States. Cloudflare is among several companies that provide DDoS-protection services, and Voatz has said that the system employs end-to-end encryption and multi-factor authentication for infrastructure nodes.

Another blockchain voting solution was used in Colombia in 2016. “Blockchain Voting for Peace” is a case study by the Organisation for Economic Cooperation and Development of a referendum held in Colombia back then. In it, the nonprofit organization Democracy Earth Foundation creates a blockchain platform to allow Colombians living abroad to symbolically participate in the plebiscite on the peace treaty between the government and the Revolutionary Armed Forces of Colombia, commonly known as FARC. The interesting thing here is the possibility of democratic coverage provided by the blockchain.

Key takeaways

From what we have seen so far, it is not an exaggeration to imagine that in the near future, many countries will see blockchain technology as an ideal voting method for a society that is increasingly digitized faster than ever.

However, even if the maturity of the technology is reached and it effectively brings greater legitimacy to the electoral process and veracity to the voting system, will we be able to overcome the cultural barriers and digital illiteracy that still exist in today’s world?

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Tatiana Revoredo is a founding member of the Oxford Blockchain Foundation and is a strategist in blockchain at Saïd Business School at the University of Oxford. Additionally, she is an expert in blockchain business applications at MIT and is the chief strategy officer of The Global Strategy. Tatiana has been invited by the European Parliament to the Intercontinental Blockchain Conference and was invited by the Brazilian parliament to the public hearing on Bill 2303/2015. She is the author of two books: Blockchain: Tudo O Que Você Precisa Saber and Cryptocurrencies in the International Scenario: What Is the Position of Central Banks, Governments and Authorities About Cryptocurrencies?

 

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How the US election may impact Bitcoin price

 

With Joe Biden poised to be the next president of the United States, Cointelegraph Consulting reflects on how traditional assets have responded to the election of a Democratic candidate. Historically, Democrats have been bullish for gold, as the common perception is that more unbacked money gets printed under Democratic leadership, further debasing the dollar. In the short term, Bitcoin (BTC) has already strongly benefited, increasing by 10% since election day so far.

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that long-term Bitcoin holders’ average profits are sitting at a 14-month high, increasing the likelihood that they may exit the positions and take profit.

Market Value to Realised Value, or the MVRV ratio, is an indicator that tracks the​ average profit or loss​ of a certain group of holders in an effort to understand whether they are in a position to sell at a profit. Shortly after breaking $15,000 on Nov. 5, Bitcoin’s 30-day MVRV ratio — or the average ROI of all addresses that have acquired BTC in the past 30 days — shot up by 18.8%, indicating that short-term BTC holders were averaging close to 20% profit on their initial investment.

Other on-chain metrics show that Bitcoin whales have been accumulating BTC in the run-up to the latest push past $15,000. The collective balance of addresses holding 10 to 100 BTC hit a 6-month bottom on Sept. 20 before starting to bounce back, and has grown by 37,800 BTC since, implying renewed confidence in the asset.

 

Other news from around the legislative and enterprise blockchain world showed  one of China’s largest banks launching a new blockchain-based bond that uses tokenized certificates. In the U.S., the Securities and Exchange Commission is having a record year with more than $1.26 billion collected from unregistered ICOs in 2020.

Read the full newsletter edition here to get the entire scoop, complete with detailed charts and images.

Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. With market intelligence from one of the industry’s leading analytics providers, Santiment, the newsletter dives into the latest data on social media sentiment, on-chain metrics and derivatives.

We also review the industry’s most important news, including mergers and acquisitions, changes in the regulatory landscape, and enterprise blockchain integrations. Sign up now to be the first to receive these insights. All past editions of Market Insights are also available on Cointelegraph.com.

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