Category: Coin Guide

There are several thousands of cryptocurrencies out there, known also as altcoins. These coins and tokens all have their own unique features and uses, for example, some are used to help decide the direction the creator company should take, others give you discounts or access to special features. The Coin Guide is a concise summary of the aims and technology behind a certain cryptocurrencies. Insight is crucial in this field. Many projects disguise their progress through complicated jargon, making it hard to distinguish those who are building something meaningful from those who are not.

MimbleWimble complete Beginner’s Guide

What is MimbleWimble

While earlier blockchains such as Bitcoin did not account for privacy and scalability, new projects are addressing these very issues. One of the most revolutionary protocols right now is MimbleWimble. The protocol is gaining traction because of its ability to address privacy, scalability and fungibility. Currently coins that use this technology are Grin, Beam, Epic Cash and Litecoin is starting sidechain development.

Why is Privacy important? Currently, when you use Bitcoin, that is, to send bitcoin, the receiver can extract unrelated transactional information. Because of this splitting transparency concession, privacy coins like Monero are increasingly becoming more popular thanks to their transaction obfuscating ability.

MimbleWimble’s History

The whitepaper for MimbleWimble was first published by Tom Elvis Jedusor, an alias name referenced from Harry Potter, in June 2016 but the mainnet is now live. What Elvis proposed was hiding senders and receivers addresses as well as the amount. This not only ensured privacy but also reduced block size to allow for more direct and efficient transactions while making the platform more scalable. Because of their proposal, Mimble Wimble’s white paper is popular with privacy coins enthusiasts.

How does MimbleWimble Works

MimbleWimble (MW) ensures that with all transactions, there are no addresses from where the amount is coming from and to whom it is going to. Furthermore, it hides the amount being transacted. Transactions are trivially aggregated to hide where a newly created transaction comes from. The transaction is relayed privately among peers before becoming public.

Without an address it becomes impossible for any user to track a transaction. With other cryptocurrencies, to send or receive transactions, one must have an address. This addresses act as tags making it possible for the public to tack transactions, with MimbleWimble, this simply doesn’t exist because the address (tag) isn’t there.

To hide transaction amounts, MimbleWimble has used EllipticCurve Cryptography (ECC) creating the underlying structure to eliminate inputs and outputs data. This essentially takes out your signature from transactions by combining the signature of the sender and the receiver to create a private address.

However, using confidential transaction, the amount being transferred remains visible to the participants of the transaction.

MimbleWimble goes further ensuring that not even your IP can be traced. If you send or receive amounts with a phone or laptop regularly, this phone or laptop can be identified and traced back to you. However, with a new privacy layer in the MimbleWimble protocol, there’s extra security preventing tracking.

Grin’s Advantage over Other Privacy Coins

By comparing it to one of the biggest privacy coins, Monero, it’s clear that Grin—which uses MW, is superior. Whereas Monero creates dummy transactions to hide the real transaction via ring signatures, Grin employ transactional output, a technique that makes it hard for UTXO tracking as well as cut-through transaction via Coinjoin to merge old transactions.

Clearly, what Mimble Wimble brings to the fore is a technological breakthrough that has great implication for the entire ecosystem that would even changehow transactions are done. Its implementation means cryptocurrencies like Bitcoinwould be used on a day to day basis without compromise of privacy, scalability and fungibility via a simple hard fork.

How to mine MimbleWimble Coins

MimbleWimble coins can be mined using GPU and CPU hardware. To find out how to mine Epic Cash, check out our full Epic Cash Mining guide.

April 16, 2019
Mithril (MITH) Overview

Mithril aims to disrupt our perceptions on social media- to decentralize and reward social media content creators fairly and openly.

For a long time, content creators have not been earning for firing up their creative juices. Their followers have also been left dry after interacting with content. But this is now in the past since the launch of Mithril, a platform employing blockchain technology with content creators and their followers in mind.

The team behind Mithril comprises of top minds like Wilson Huang who is a former software engineer at Yahoo and Jeffry Huang, the former chairman of M17 Entertainment.

Since its launched in 2018, the decentralized social media platform has already made notable milestones. For example, it has secured a partnership with PiePie, a social platform where content creators can earn MITH tokens (more on this shortly).

Mithril does this through “social mining”. Unlike other social media platforms such as Facebook and Instagram, Mithril rewards users for their content according to the popularity it attracts.

What makes the Mithril ecosystem

The Mithril ecosystem is made of the MITH token, Lit, and the Mithril Vault which are intertwined to bring a comprehensive experience to content creators.

The MITH token (MITH) is the platform’s native token and which is used to reward publishers in a process called Social Mining (more on Social Mining later). The token is built using the ERC-20 standard on the Ethereum blockchain. It can be used to purchase goods and services on the Mithril Merchant Network, or it can be traded for other digital currencies. Apart from being used for payment and Social Mining, MITH can also be used for staking.

Lit, on the other hand, is an already developed social media app that is available to those using iOS or Android-powered mobile devices. Just as with other top social media apps like Facebook, Lit can be used for messaging and posting personal stories using the ‘stories’ feature.

The third core component of Mithril is the Mithril Vault, a secure virtual wallet for the MITH tokens.

Key Features Of Mithril

Social Mining

Though their mobile app- Piepie (available on iOS and Andriod), users can post 6 second videos and share it with over 154,000 (and growing!) other users globally who can follow, like or comment on them.

Users who post on Piepie will be rewarded with Mithril’s (MITH) tokens.

Mithril recently expanded their ecosystem by partnering with Yeemos (available on iOS and Andriod). Yeemos is an app where users can post photographs. Other users can then interact with the posts by doodling, posting stickers, emojis, reactions or comments on them.

Yeemos is expected to support the MITH reward system soon.

Mithril Vault

Users can link their Piepie (and eventually Yeemos) accounts to the Mithril Vault. The Mithril Vault has several functions:

Funds: Users can withdraw and/or deposit their MITH, Binance (BNB) and Ethereum (ETH) tokens. Support for more tokens is expected.

Staking: Users can “stake” some/all of their MITH for a minimum of 14 days. Staking increases the amount of MITH earned when using Piepie.

Shift: Users can “shift” their MITH to ETH and vice versa.

Exchanges

MITH tokens are currently traded on most major exchanges including Binance, Bitfinex, Bithumb, Lbank, OKEx and HitBT etc.

Uses for MITH Token

The MITH token can be used as follows:

Staking: As mentioned above, MITH can be staked in the Mithril Vault to increase the MITH earned from social mining on Piepie.

Shifting: Also as mentioned above, the MITH Vault allows users to shift their MITH into ETH.

Payments: MITH is accepted as a form of payment in the Mithril Merchant Network. For now this includes some Taiwanese cafes and merchants. Globally, MITH can be used to pay for other products/services relating to dating apps, paid content and other applications.

The Mithril roadmap

Mithril has been hard at work meeting its milestones, and in some cases ahead of schedule.

For Mithril, the milestones covered form the footing for a bright future ahead. While the future will be comfortable for Mithril network users, the developers have already rolled their sleeves up.

For instance, the team behind Mithril is yet to develop an ad network, conduct a vault merchant network onboarding, among other high profile developments.

Those already partnering with Mithril include, Qtum, M17 Entertainment, Swag, SOLA Foundation, bytepay, Simple Swap, Atomic, among others.

In short, Mithril has just left the runway.

Resources:

Website: https://mith.io/

Whitepaper: https://mith.io/whitepaper.pdf

Blog: https://medium.com/mithriltoken

Telegram: https://t.me/MithrilChat

Twitter: https://twitter.com/MithrilToken

Binance research report: https://info.binance.com/en/research/MITH-2018-11-15-46831.html

March 6, 2019
Elastos Explained – what’s a decentralized internet
Elastos is a third generation technology that leverages blockchain technology in giving internet users complete control over their digital properties. The protection that Elastos provide is beyond cryptocurrencies or private data. It covers other intellectual properties such as books, games, movies, and business ideas.
Elastos is a new Internet technology that is revolutionizing online security and smart technology. Elastos is built on the concept of removing middleman, monetizing computing power, protecting digital assets and offering incentivised digital properties transactions with enhanced security and speed at an affordable cost.

How does Elastos work?
Elastos operates in an isolated environment called a virtual machine that runs on elastos runtime. Its is a lightweight operating system kept in a little box. To penetrate the system, an attacker has to create their own box and connect to the user’s data.

If hackers manage to breach the security, Elastos does not grant Internet access so the information derived cannot be sent out or uploaded to the third-party websites like YouTube, Facebook or Dropbox.

Alternatively, the hacker may try to download it to external storage, but elastos requires that the owners of the data grant permission from their end. Therefore unless the owners voluntarily share their digital assets, hackers cannot take possession of it giving owners exclusive protection over the data they secure with elastos.

In another instance, assuming the hackers try to connect another virtual machine like engineering artificial intelligence (AI) scanner, it can only scan and check the data, but it is not transferable as it is an isolated device. The information cannot be passed on to the outside world.

In another real-life instance, assuming you have a session with your doctor and he connects to your virtual machine, he can only read your medical report but will not be able to save a copy. It is also imperative to the point that the moment you close your Elastos machine, the information viewed by the doctor will be permanently erased guaranteeing you topmost security.

The Blockchain Technology Behind Elastos

Now that we know how Elastos works, it is possible for readers to conclude that Elastos does not need a blockchain technology to function in reality, the blockchain provides the secure ID to access Elastos.
In a case where a hacker tries to override the user’s security, it is the blockchain that will be responsible for the assurance that the ID is authentic, not tampered with, void of virus and malware, and perfectly matches with the one registered in the block.

Blockchain provides a layer of trust for all the virtual machines that want to connect to a system.

Real Life Application of Elastos

Business and Enterprise

It helps businesses and enterprises to protect the trade secrets, for instance, Coca-Cola can use it to store their recipe menu which will not be available to anyone without their permission

Professionals

To safeguard valuable private data and ensure that only people with permission can access the information stored on it

Content Creators

Authors, content creators, movies and game developers can leverage the use of elastos in securing the ownership of their intellectual properties. With that, they can scale up their earnings and prevent illegal distributions of their contents to unauthorized users.

Also, the content owners can use elastos to create a scarcity of their digital asset thereby increasing its value.

Developers

Elastos provides large blockchain applications in a secure environment and keeps contents intact after multiple uses

Ethereum vs. Elastos

Ethereum operates on a single main chain structure leading to speed limitation while elastos adopts main chain and side chain structure that speeds up the transaction, payment and smart contract support for several applications and services

Ethereum experiences network congestion and data redundancy while Elastos is the more secure runtime with the independent operating system, software development kit (SDK) that speed up the operating process and prevent data congestion.

Ethereum exposes data to risk as it employs a front end decentralized application (DApps) while elastos make use of a safe DApps prevented from accessing the networks thus protecting data from DDos. Also, elastos doesn’t make use of IP addresses which implies that hackers cannot track users’ activities.

Conclusion

In conclusion, Elastos is a disruptive third generation blockchain technology that offers total protection of data and vital confidential information for an individual or a corporate body. The innovative technology will help content owners to maximize the returns on the sale of their digital assets thus making more from their intellectual properties. Elastos is a very beneficial technology that every user of the internet should have in their possession to create a more secure internet environment for all.
March 1, 2019
Cryptocurrency 101 – the Basics
One way to describe cryptocurrency is that it is simply a digital cash system without a central entity. To realize digital cash you need a payment system with accounts, balances, and transactions. One major problem payment networks have to prevent is double spending: to prevent that one individual who spends the same amount twice. This is usually done by a central authority or body who keeps a record about the balances.

In a decentralized system, there is no one person that is responsible for this. Every single part of the network has to fulfill this function. Every part needs to have a list with all transactions to check if future transactions are valid.

Cryptocurrency and the blockchain

Cryptocurrencies are also simply just limited entries in a database no one can change without fulfilling specific conditions. If you think about it, that can also be used to describe our current monetary system. Money in your bank account is basically entries in a database that can only be changed under specific conditions.

Confirmation of transactions is a critical concept in cryptocurrencies. As long as something is unconfirmed, it leaves it open to forgery or falsification. When a transaction is recorded onto the blockchain, it can no longer be changed and it can’t be reversed.

Peers in the network, or as they have come to be known, miners, can confirm transactions. They take transactions, stamp them as legit and spread them in the network. After a transaction is confirmed by a miner, every node has to add it to its database. It has become part of the blockchain.

Cryptocurrency has derived its namesake from the strong cryptography process used to secure its consensus-keeping system. Cryptocurrencies are built on cryptography. They are not secured by people or by trust, but by math.

Properties of Cryptocurrency

Most cryptocurrencies share a common set of properties, but not all rules are set in stone. Some may focus more on privacy, while others boast faster transaction speeds of lower costs. Below are some of the more common characteristics you will find cryptocurrencies.
- Transactions cannot be reversed – when your bitcoins are sent, there’s no getting them back, unless the recipient returns them to you. They’re gone forever. This makes it difficult to commit the kind of fraud that we often see with credit cards, in which people make a purchase and then contact the credit card company to make a chargeback, effectively reversing the transaction.
- Decentralized – there is no central authority controlling it and that means goverments cant take it away from you.
- Low cost – compared to bank transfers or international transfers, the fees are a lot lower.
- Speedy – you can send money anywhere and it will arrive minutes later, as soon as the network processes the payment.
- Secure and transparent – because all the transaction information is stored on the blockchain, people cannot trick or deceive you about what funds they have. Cryptocurrency funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency.
- Pseudonymous – Neither transactions nor accounts are connected to real world identities.While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses.
- Store of value – Most cryptocurrencies have a limit to the supply of tokens that can be mined or created. Because of this controlled supply, there are no risks of inflation unlike fiat currencies where new money can suddenly be printed.
October 13, 2018
Blockchain Security: Hodlers Should Learn More About It

A Blockchain contains digitalized transaction “block” records where each block connects to a series of all the previous and future blocks. Although experts suggest that Blockchains are impenetrable, it does not elude the fact that hackers have found ways to paralyze impregnable walls. Therefore, security concerns continue to invade peoples mind. There exist various companies offering security services such as smart contract, penetration testing, and adequate knowledge regarding Blockchains. Many professionals advice interested parties to do thorough research and learn more about cryptocurrencies before joining the community. You can rely on the numerous training videos on YouTube or attend conferences. People and companies alike also need to understand Blockchain security from all angles.

Security

Individual curiosity is an integral part of understanding Blockchain security. You need a clear perception of who is in charge of your investment security and how third parties play their role. Note that, your CTO is not responsible for personal data protection. His/her area of expertise lies in scientific and technological issues within the organization like code and software development. Entrust your protection to a Chief Information Security Officer (CISO) because their task is to provide adequate data and technology security.

Their services cost a fortune but if you cannot afford one, hire a consultant to evaluate your security measures. He/she will pay attention to various areas of interests such as two-factor authentication and cyber-security employee policies. For instance, most hackers illegally penetrate corporate systems via email, instant messages, or promotion/reward links. Their aim usually entails stealing sensitive information like credit card details, passwords, and usernames. In short, everybody who uses the internet to transact is vulnerable to hackers.

Every transaction follows a specific set of agreement for security purposes. Cryptocurrencies adopt smart contracts to control digital currency transfer through blockchain technology. The computer program eliminates the need for third parties because it digitally facilitates and negotiates terms. It is also a significant security protocol whose transactions can be tracked and reversed. Hackers operate using smart strategies like targeting both the top management and employees as well.

Therefore, you should not solely rely on corporate protection especially if your passwords, username, and cell phone numbers are connected to your account or assets. It is extremely risky to expose your data through various devices to multiple platforms. Programmers across the world have developed security management apps like Dashlane to secure your passwords and wallets. Another alternative solution includes adopting a comprehensive multifactor authentication using launch keys. You can also apply the most recent security key development like Titan to verify login details over Bluetooth.

The bottom line is that if you are currently in the cryptocurrency business (individually or as an organization), you are a target and so are your employees. Create different passwords for every account and enhance the verification process. Most importantly, do not trust anyone with your information and that includes private keys, passwords, username, etc. Blockchain agencies should consider training workers and extending useful solutions to hacking issues. The strategy strengthens not only personal security but also the entire corporation. Various costs are usually involved, and therefore, the relevant officers must create a budget to accommodate security changes.

Regulations

According to various sources, most people have yet to understand how cryptocurrencies work and their potential. Even after dominating the world news for a decade, over half the global population is unwilling to take risks. The industry is still young and expanding at best. Its high growth rate has triggered the need for regulations in various countries. Japan is among the first nations to legitimize cryptocurrencies followed by the United States. However, most governments issue notices about investing in the industry.

The warnings pertain to risks involved especially since transacting organizations have no legal responsibilities to their clients. Some reports suggest that the electronic cash system creates a perfect atmosphere for terrorism and money laundering (due to anonymity). As such, several states have expanded laws on various criminal activities to include crypto markets. Others restrict crypto investments while nations like Nepal have banned all crypto activities altogether. In Qatar, citizens cannot operate locally, but they are at liberty to do so beyond the borders.

Cryptocurrencies have also tapped into fundraising using Initial Coins Offering (ICO). However, most states regulate ICOs while others like China have completely banned them. Strict regulations have also discouraged people from investing, but most governments are working towards creating crypto-friendly regulatory systems that will attract investment and offer maximum protection to clients. Luxemburg and Cayman Island are among the nations that hardly view Blockchain technology as a threat. They aim to create their own cryptosystems including Venezuela and Marshall Island.

Taxation, at its best, has yet to categorize cryptocurrencies and all its tax-worth activities. But different countries have adopted various references to regulate Blockchains by taxing them as assets, financial assets, foreign currency, income tax, etc. in the United Kingdom, crypto firms pay corporate tax, individuals pay capital gains tax, and unincorporated agencies pay income tax. The mining of cryptocurrencies is mostly affected by power taxation rules.

The bottom line is that Blockchain security has unlimited options. Cryptocurrency companies can adopt smart contract auditing or hire consultants. (https://casadelninobilingual.com) More so, they should offer cybersecurity training to their staff and regulate internet access. Individuals, on the other hand, can maximize personal data protection through launch keys and two-factor authentication methods. Regulation-wise, governments are responsible in that, they can create crypto-friendly regulatory systems, impose the tax, or ban cryptocurrencies altogether.

September 20, 2018
Monero (XMR) in a Nutshell

Monero is a rather unique member of the cryptocurrency family thanks to its focus on privacy and absence of the traditional open blockchain network like those found on Bitcoin. It is, in a nutshell, a system that makes use of three key technologies — Ring Signature, Stealth Address and Ring CT (Confidential Transaction) — to ensure that the sender, receiver and transaction amount are concealed from view.

On a traditional blockchain, you can freely click to see who sent any transaction, how much it was, and who the receiver is. For many this was the logical way to do things because an open book meant less suspicion of dubious activities on the network. Going into “stealth mode”, as you can choose to on some platforms, is a sure-fire way to attract raised eyebrows. Monero tried to eliminate this problem by making its transactions 100% private.

Advantages and Disadvantages of Monero

+ Users don’t have to worry about fraudulent chargebacks or multi-day holding periods. What’s more, there are no capital controls which restrict flow for traditional currencies. The user truly is in control.

+ Protection by CryptoNote’s hashing algorithm, “CryptoNight” makes it more resistant to ASICs (but not 100% ASIC-proof). The thinking is that it would be so costly to produce an ASIC for Monero that the benefits couldn’t possibly be worth it.

+ For better or worse, privacy is more attractive to more users. Privacy has always been a hallmark of any online industry’s success. Online shopping, for instance, was never going to be a reality unless people had ways to conceal their purchase histories and keep things private.

Monero focuses on privacy

– On February 19^th 2017, the CryptoNote currencies, including Monero, were subject to a bug that allowed for stealthy creation of an unlimited number of coins, untraceable unless the viewer, too, knew about the flaw and what to look for. Fortunately, after scanning their system, Monero found it had never been exploited using this flaw, and by February 21^st the problem was patched. To be fair to Monero, they have been open and disclosed full details of the error and all measures taken to rectify it.

– The privacy element means there are view or no wallets available for full viewing, and so it’s impossible to know about past transactions and what’s really going on in the network. It may be a pro for existing users, but for newcomers it can be a little unsettling.

It’s clear that one of the biggest pulls of Monero is the ability to remain anonymous without the same suspicion being leveled at you on other platforms where “stealth” is optional (and only used for dodgy transactions, people think). But, after the open-ledger and dominance of more “typical” cryptocurrencies, Monero represents a radical, even revolutionary approach that has a potent allure.

RandomX CPU mining

RandomX is a new cryptocurrency mining algorithm designed improve the distribution of mined cryptocurrencies more evenly to a broader base of users. The idea is that everyone with a computer has a CPU, and hence an algorithm that favors the CPU will be more inclusive. Random is is designed to only function on CPUs, with strong resistance to both GPU and ASIC mining. This is achieved by making use of functions only available on modern day CPUs, such as virtualization. RandomX has already been audited and is currently deployed on Epic Cash and will be deployed on Monero.

Monero – How does it work?

So how does it work? Each piece of aforementioned tech is used to protect a different element of the transaction.

The sender is protected by the “Ring Signature,” which attaches multiple names to each transaction, forming a ring around the true sender and obscuring their true identity.

The receiver is protected by the “Stealth Address,” which sends transactions to a single-use address that will flag up as non-existent should anyone try to look into who the transaction was going to.

The amount of each transaction is concealed by the “Ring CT,” which only shows each exchange as being more than zero and valid — that’s it!

Summary of how Monero works

The conscious crypto user who wants to be anonymous for innocent reasons, but doesn’t want to arouse suspicion, will find the perfect partner in Monero. Privacy is a right, and Monero is one of the platforms offering it openly and genuinely. Not everyone agrees. Some people see universal anonymity as limiting, as it makes it impossible for new users to look into past transactions and determine if everything is kosher. There are even additional tools like their “Kovri” tool which masks IP addresses. To the experienced observer of the Bitcoin ledger, this secrecy can be rather off-putting.

August 30, 2018
Ripple and XRP – Revolution or Scam?

manafort.com) temp927.kinsta.cloud/what-is-ripple-and-xrp/”>Ripple has been booming lately as more and more financial institutions have started to use the service for its fast transactions and extremely low fees. As banks seek to move away from the somewhat outdated SWIFT system, the Ripple protocol and it’s token XRP has risen up as a viable alternative. Ripple is also a very controversial coin, with proponents talking about interest from banks and opponents worried about centralization and lack of real world adoption.

Will there be a demand for Ripple and XRP

Previously, there were concerns about the use of the token. In theory, it is possible to use the Ripple payment protocol without the XRP token and people were left to wonder about it’s worth. However, Ripple has recently tweeted that, “3 of the top 5 global money transfer companies plan to use XRP in payment flows in 2018”.

3 of the top 5 global money transfer companies plan to use XRP in payment flows in 2018. Even more in the pipeline. https://t.co/5JOlxe20Ur

— Ripple (@Ripple) January 5, 2018

Furthermore, the CEO of Ripple, Brad Garlinghouse, has also confirmed that banks and payment providers plan to use xRapid (the XRP liquidity product) in a serious way.

Future outlook for Ripple – serious challenger to bitcoin or scam?

Ripple, currently second in market capitalization, has been continuing on an upward trend. At press time, the altcoin was trading at an average of $3.36. With a market cap of over $131 billion, it is over half that of bitcoin.

One thing to take note of though is the high supply of Ripple. Bitcoin will only ever have at most, 21 million coins in circulation. Ripple currently has over 38 billion XRP issued. If we set the supply of Ripple to 21 million, using its current market cap, each coin would be over $6,200. And looking at it that way might ward off potential investors.

The success of Ripple and other altcoins have led to an all time low for bitcoin dominance at 33.3 percent. With this recent news, will we finally be seeing a challenger to bitcoin for the top of the crypto throne or is just another flash in pan? One thing for certain is that 2018 is sure to bring much more exciting news for crypto.

https://www.youtube.com/watch?v=Y1GshH0F9Ic

Ripple Total supply vs Circulating Supply

The XRP token was created with a significant portion of it reserved for development of the coin. Unlike mining, these coins can be issued out by the owners (either the founders of ripple or Ripple Labs). This is a large difference between the circulating supply and the total supply as well, with almost 60% of XRP left to be distributed.

If XRP had the same supply as Bitcoin the Price would be walloping $18,953!

January 5, 2018
Binance Exchange and Token Summary (BNB)
Binance is a crypto-crypto exchange with a focus on the international market and rapid development. Binance has grown tremendously over the past few months, especially with its early adoption over various coins and the large trade volumes for other popular coins. Currently, it supports English and Chinese users and there is a possibility to expand to Korean and Japanese in the future. Binance has recently expanded operations with various regional development teams around the world.

The Binance token (BNB) was created during the ICO event to fund the development of the Binance exchange.

Features of Binance
- High performance – capable of processing 1.4 mil orders/second
- Multi-language support – Chinese, English, Korean, Japanese
- Good support team – Binance support is reachable (rare in crypto space)
- All major coins available – BTC, ETH, LTC, BNB etc.
- Low trading fee – Only 0.1% trading fee
- Early support for Bitcoin Forks – Bitcoin Gold, Bitcoin Diamond were all listed on Binance
- GAS distribution for NEO – storing NEO on binance yields GAS too!
https://www.youtube.com/watch?v=X4jle45hMfg&feature=youtu.be

Partnerships with Other Chinese Coins and ICOS:

One of the advisors for Binanace is Da Hong Fei – The founder of NEO. This means that there is a strong partnership between Bianace and NEO. Currently, Bianace is the only exchange that gives NEO GAS for holding NEO on the exchange. The exchange takes a snapshot of the NEO balance on a daily basis and will distribute NEO GAS based on the snap shotted balance.

Interview with the CEO of Binance, Changpeng Zhao

I had the privilege of interviewing the CEO of Binance, ChangPeng Zhao. Binance is taking the cryptocurrenc exchange scene by storm with a massively positive response from both the Chinese and International community.

Binance ICO:

The Binance Exchanged was financed through an ICO that was held on the 14th of July 2017. A total of 15 Million USD dollars were raised during the event. Here are achieves for the Whitepaper and the ICO page.

Binance Token:

Binance tokens were issued to project supporters. The token has 3 major features:
1. Exchange Fees: Binance tokens can be used to reduce fees for trade costs and commissions. Currently, Binance has a 0.1% trade fee and 50% of the fee can be paid in terms of Binance tokens.
2. GAS: Binance will eventually feature advanced features that require GAS. BNB tokens can be used as GAS to power these advanced features.
3. Staking: Binance eventual want to develop a decentralized exchanged. The BNB tokens will eventually be used on this exchange to stake transactions.
Sign up to Binance here: https://www.binance.com/?ref=10192887

Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. (Rybelsus) Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
December 5, 2017
Komodo in a Nutshell
Komodo ICO (KMD)

The Komodo ICO ran from Oct-Nov 2016. At the time they raised a total of 2636.37BTC. Komodo is a Zcash fork and so it will have all the same privacy features. However, they are not part of Zcash (ZEC). Their work is built on top of the open-source Zcash project.

What is Komodo

The zerocash protocol allows a higher standard of privacy and anonymity to transactions. It makes it possible to send money online without disclosing receiver and sender information, while at the same time allowing for verification of the transaction’s authenticity. This utilizes a technology called zk-SNARKS.

Komodo is also developing something called delayed proof of work or dPoW. Komodo has two levels of mining and two separate proofs of work (PoW). Only Komodo has to attach itself to the Bitcoin blockchain. Because of this, third party blockchains can use Komodo as an additional security layer. The Komodo blockchain will have the 64 notary nodes. The notary nodes, apart from finding blocks and recording transactions on the Komodo blockchain, take the confirmed blocks on the Komodo blockchain and notarize or engrave them on to the bitcoin blockchain.

https://www.youtube.com/watch?v=eBTMjFotWS8

Other Applications

Apart from the features listed above, Komodo is also being developed as part of a broader project called SuperNET. SuperNet aims include:
1. assetchains that allow anyone to create their own asset with its own blockchain
2. multiwallet where those assets can be stored, including many coins like Bitcoin and Komodo
3. atomic swaps, so that people can trade their coins from the multiwallet without counterparty risks
4. pegged assets – which are a form of price-stable assets created on the assetchains – these assets solve the problem of price volatility by attaching themselves to the value of stable currencies like EUR or USD.
Resources:

Whitepaper https://komodoplatform.com/whitepaper/

https://steemit.com/komodo/@komodoplatform/a-guide-to-better-understand-komodo
October 9, 2017
Why is Bitcoin Valuable

Why does this have any value? It’s not backed by any goverment, and it’s not a physical commodity like gold where you can touch and feel it.

It is Decentralized

That means it is not backed by any government or central authority. For currencies like USD or the Euro they are backed by their respective government and groups of governments and with those goverments, there may be times of hardships. Hardships such as, but not limited to, war, famine, financial crisis, and natural disasters.

It is a Store of Value

When these difficulties hit, governments are usually tempted to just print out money. They might be needing that money because they are in debt or they need to fund a war. Printing more money increases it’s supply and this could ultimately lead to inflation.

With bitcoin, there is a set maximum that can be created, and that is controlled by mathematics and computer code. Because there is a limit, it makes it a great store of value. You may have even heard of the term “digital gold” being used to refer to bitcoin.

First movers advantage

It is Secure

Bitcoin can only be transferred by mathematics. It has to adhere to the programming code rather than people. We do know that people can sometimes be controlled or influenced by politics or other external pressures.

As long as you are the only one in control of your private key, then your funds are safe. Someone cannot decide to suddenly lock up your account or freeze your funds.

Transactions cannot be reversed

when your bitcoins are sent, there’s no getting them back, unless the recipient returns them to you. They’re gone forever. This makes it difficult to commit the kind of fraud that we often see with credit cards, in which people make a purchase and then contact the credit card company to make a chargeback, effectively reversing the transaction.

It is Convenient

Earlier, when we talked about bitcoin being named as “digital gold”, we forgot to mention another advantage that is has. Since bitcoin is a digital currency, it has the benefits of gold without the drawbacks.

Gold can be heavy and bulky, and thus hard to transport. You also need a secure place to physical store it. Since bitcoin is all digital, the cost of sending it doesn’t change no matter where you are. The amount of time it takes and how much it costs is the same whether you’re sending it to someone next to you or halfway across the world.

It’s cheaper compared to bank transfers or international money transfers. The fees are a lot lower. Also, if you’ve ever tried to transfer money overseas, you know that it can take days. With bitcoin it is much faster – you can send money anywhere and it will arrive minutes later, as soon as the bitcoin network processes the payment.

September 30, 2017
OmiseGo (OMG) in a nutshell
(Updated on 31-08-2017)

OmiseGO is a token proposed by Omise that allows real time, direct transfers across multiple fiat currencies and digital currencies. Omise go is an existing payment management platform mainly focused on Southeast Asian countries such as Thailand, Singapore and Japan. With this new project, they plan to take this one step further and integrate their services with blockchain technology.

What it Offers
1. Ethereum based financial technology
2. Ease of use – no bank account needed
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3. Affordability – low transaction fees
  - Using traditional remittance methods make it difficult for a lot of their target market to send money home. The fees will take up a large percentage of the total amount. OmiseGo can offer almost instant transfers at low cost.
4. Allows easy transfer between fiat currencies and also digital currencies
What it Means

Ultimately, OmiseGo should make it easier for foreign workers to send money home to their families. It also has the additional benefit of extra security through decentralized currencies. Millions of users in fast growing economies will be given the opportunity to go from fiat currencies to digital currencies.

**Update**

OmiseGo has announced their collaboration with McDonald’s Thailand. Founder, Jun Hasegawa, confirmed the news on his Twitter. Following the news, OMG has seen a slight rise of over 4% today.
August 30, 2017
Bitcoin Fees
What are Bitcoin Fees

Bitcoin Transactions are not free, every single bitcoin transfer must include a fee. Here are some facts about Bitcoin Fees:
- Fees are necessary – Every Bitcoin Transaction is charged a fee. There is no standard price. Instead the fees are like a tip, the more you pay the faster the transaction is approved.
- Higher Fees mean faster transactions – Bitcoin transactions are not instant. Simply said, the more fees you pay, the faster the transaction is processed.
- Fees are paid by the Sender – The receiver does not have to pay any fees.
A generous tip (currently around $1 USD) will allow the transaction to be almost instantaneous (10 min) whilst modest tip ($0.05) incur a 10 hour wait time. In fact, if no tips are included in a bitcoin transaction the transaction time may be infinite! Bitcoin transactions could be considered almost like a ‘tip’.

Do large transactions mean large fees:

In short: No. A common misconception is that the more bitcoins are transferred, the greater the fees that are needed. This however is not true, the amount of bitcoin fees that should be included depends on the amount of information relayed by the network. This means accounts with lots of small inputs would need more fees to transfer money out.

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Cloud Mining generates tons of transaction fees

One major downside of cloud mining is that the mined bitcoins will cost a LOT of transaction fees. This is because a lot of cloud miners (eg. genesis-mining) will give daily payouts. This means that you wallet will be filled with a lot of small transactions. Whilst this might seem like not a bit deal, when you try to send money out of the wallet the fee for the transaction might be up to 20% of the transferred amount!

This is because bitcoin transaction fees are based on the number of inputs the wallet has. Because there are daily cloud mining payouts, the number of inputs in the wallet will be extremely high.
August 1, 2017