Top 10 videos on the internet community that would help gain the newbies, a grip in the blockchain fundamentals
The Blockchain Technology is inherently meant to be an internet of value and the traditional internet that we use today accounts to transfer of information. In simple words, Blockchain Technology is a protocol where the complete transfer of information takes place without maintaining its duplicate. On the other hand, the internet as we all know is a paradigm in which the clients receive a duplicate of the master copy on the server. The blockchain technology is originally meant to provide security features to any information by decentralizing it.
The most widely discussed topic and also the most bizarre one, demands a constant and special explanation in both simple and complicated manner at outer and deeper levels respectively. Below are the 10 most popular videos, which explains Blockchain Technology in a very simple manner, one can refer in order to understand it completely.
What is blockchain?
The video posted by World Economic Forum offers a very intuitive way to understand the Blockchain Technology and the fields of application where it can be implemented. The explanation demands special attention as it is explained by one of the most respected economic forums around the world.
Ever wonder how cryptocurrencies work?
The blockchain technology is explained by one of the ex-teachers at Khan Academy named San Anderson. The channel is specialized in explaining all the concepts in mathematics through animation. It concentrates more on the application of the concepts rather than just using the formulas to get a solution.
Blockchain- A short introduction
The explanation starts with the need for money and the evolution of the blockchain technology from the cryptocurrency Bitcoin. It even goes further to explain how the Blockchain Technology can reduce the transactional costs along with providing digital identity to currency as well as any particular real-world object for that matter.
Blockchain: massively simplified
The TED community is well known to conduct volunteer workshops on various life-changing topics. They provide explanations from the experts in that particular field. In this video, Richie Etwaru goes on to explain the evolution and need of the blockchain technology from the internet error goes on to explain the evolution and need of the blockchain technology from the internet era. He even clearly differentiates characteristic features of normal databases to that of a Blockchain Distributed Ledgers.
What is Blockchain?
CNBC explains one of the most preferred and reliable news outsource media, CNBC comes forward to explain the amazing implications of the Blockchain Technology and the impact it is having on the real world. In the video, they agree that it is wrongly being used for the purchase of drugs and other illegal commodities. They even state a fact that how banks are worried that the technology what completely disrupt them. However, the video mostly concentrates on the positive side of it.
How does Blockchain work- Simply explained
The video initiates by comparing the Blockchain Technology similar to a digital notary. The time Stamping mechanism of Information. Further, it goes on to explain, Bitcoin as an application of Blockchain Technology and how it prevented in solving the double spend problem.
Blockchain, How it works?
With the increase in the global economy, the video illustrates the difficulties and the expenses required to maintain the huge cumbersome databases. It takes the shipment of a diamond, as an instance in order to explain the application of the technology apart from the finances. It puts forth the effectiveness that the technology offers in tracking any particular commodity.
Blockchain – Demystified
Another awesome explanations buy one of the experts in the field at a Ted Talk. He begins to explain the origin of the internet along with Blockchain Technology. He cited that the outcome of Bitcoin might be a coincidence of the 2008s Economic Crisis.
Why blockchain matters more than you think?
Coldfusion TV is an amazing channel that explains the most complicated stuff in most relaxed manner. It goes on to explain the working of the cryptographic features of Blockchain Technology. The video concludes by explaining the smart contract concept in a very simple fashion by considering a real-world scenario.
How Blockchain will radically transform the economy
As the title suggests, the video explains the radicalization that the Blockchain Technology is bringing into the current deprecated economic conditions. Effective elimination of the intermediaries is also a key topic of discussion in the video.
We hope that these videos would provide an effective overview of the Blockchain Technology for the geeks who are alien to the amazing cryptographic based technology.
What is NEO? Is it a good investment? How is it different from Ethereum?
Attributes which render NEO, to become a potential competitor to Ethereum.
Ethereum is one of the most famous cryptocurrency after Bitcoin. Ranking second, according to Coinmarketcap, the crypto protocol provides a standard template in order to facilitate anyone to create decentralized applications in their own customized manner. In those decentralized applications, the virtual commodities which are traded are confirmed on the Ethereum network. Scalability has always been an issue with respect to the Ethereum network due to an adamant usage of these decentralized applications. Crypto kitties were the most trending decentralized app, which had even once caused a clog in the Ethereum network. Let us see both while comparing Neo vs Ethereum.
NEO can be considered as the Chinese version of Ethereum. It is evident, in this world, that the people of China can be considered a bit arrogant in nature or patriotic towards their country, as they restrict themselves from using the Western products and services. They are known to have their own version of Facebook, WhatsApp, Amazon, also one of the most famous cryptocurrency platform, Ethereum which they use extensively. The cryptocurrency network is nothing but a distributed network for the improvement of the smart economy.
Further insights into NEO
NEO protocol basically comprises two kinds of coins, one is the native coin, NEO and the other one being, NeoGas. The concept here is very similar to that of Ethereum. NEO is used for all the transactions which take place under the NEO Network, and the NeoGas is used to used as a fuel for the transactions. All the native tokens were pre-mined and hence no mining process is available but this is not the case for NeoGas, as it is used to reward the nodes of the network to incentivize them, to help in maintenance and verification of the blocks.
The practical use case seems to be very simple. If two users need to undergo an agreement and have a transaction, then they can opt for the NEO smart contract where their assets are first converted into the digital cryptocurrency Neo. Followed by which, according to the rules and regulations, predefined on a smart contract the transaction is undertaken.
NEO vs Ethereum
The cryptocurrency has a lot of similarities with Ethereum. Although it is not exactly the same as Ethereum. Let us see Neo vs Ethereum Analysis.
In the Ethereum Network, an exclusive programming language is incorporated in order to develop the smart contracts, but in case of NEO, smart contracts can effectively be developed by using some of the already existing and popular programming languages like as C# and Java. Also in Neo vs Ethereum, Further developments are being done with respect to the NEO Blockchain, where the creation of smart contracts is to be made available in Python as well as Go too. This feature can be acclaimed as a reason for an advantage of NEO over Ethereum.
Another key difference in Neo vs Ethereum is that can be marked between the two prominent Blockchain’s is that NEO envisages Digital Identity concept whereas Ethereum doesn’t. This feature is highly appreciated in the international market as one needs to trust the other person and somewhat transparency is obtained through this paradigm.
Is NEO worth investing in?
As the token’s total supply is fixed at 100 million, the value of the coin, over time, is bound to experience a bullish trend. The process of the release of the cryptocurrency coin is vested with a Smart Contract, where only 15 million coins are released every year. Half of the total supply was already released earlier itself. This consistent release of coins is what offers stability to it. The platform even provides high scalability and controls the latency with 10,000 transactions per second. Being developed in China the cryptocurrency coin is somehow restricted, for its unconditional adoption by the Asian countries, as China is not a Crypto friendly nation. This could mark a potential risk to the coin.
Although NEO is regarded as the ‘Ethereum of the East,’ restrictions on the cryptocurrencies in the Asian countries can resist the growth of the network. Otherwise, it possesses the potential to leave Ethereum behind. As the cryptocurrency market is highly volatile an extensive background homework is mandatory, before an understanding any investment in the crypto field. One must bet only the amount of funds, that he/she is OK to lose.
Blockonix Decentralized Exchange Launched!
Blockonix DEX that the world was awaiting is now live. Confirmed by the following tweet on Official Blockonix twitter account.
Blockonix Exchange is now live!https://t.co/owvdbyaADt
We thank our community for all the support!
The future is 100% decentralized. Securely trade peer-to-peer with #Blockonix#bitindia #decentralized
— Blockonix (No giveaways)- Decentralized Exchange (@blockonix_com) July 20, 2018
Here is everything you need to know about the exchange before you starting trading on Blockonix:
1. Purely Decentralized
Blockonix DEX is a purely decentralized exchange with not even a single third party involved in your transactions. This means that while trading only the buyer and the seller shall be involved in the trade. Being a completely Decentralized Exchange, all the transactions shall occur on the Ethereum Blockchain which makes it entirely hack proof which is the best quality of Blockchain.
Blockonix is spreading the word of decentralization which was meant to be the essential reason for the launch of the growth of cryptocurrencies. Blockonix believes that centralized exchanges eradicate the real value of cryptocurrencies and due to centralized exchanges Cryptocurrencies will never be able to become mainstream.
2. No Third Party Ownership
On Blockonix DEX, There will be no single/ third party or group of persons who own the Blockonix Exchange Ecosystem which means there can be no chances of fraud as all the transaction processing shall be automated on the Blockchain in a highly secured decentralized environment.
3. Trading Fee- Huge 70% Discount
Blockonix has implemented 0.1% trading fee which is the same for both: Market takers and Market makers. This is not yet seen on any other exchanges may it be centralized or decentralized. Usually every exchange charges a higher amount of trading fee from the Market Takers. The fee shall be charged in ETH.
70% Discount: Traders can also pay the fee through BDT Tokens which is the core token of the Blockonix Exchange. While paying the Fee through BDT, Users will automatically receive a discount of 70% on the transaction fee which makes it the trading fee just 0.03% which is the least amount of fee that any other exchange charges.
Apart from the trading fee the normal amount of Gas shall be paid by the user on each transaction which is the fee for the miners.
4. Astonishing Strategy to increase the value of BDT Tokens (Blockonix Tokens)
Blockonix has a very long-term plan of increasing the value of its core BDT Token on every transaction. (BDT Tokens have a limited supply of Approx 10 Million. That means only approx 10 Million BDT Tokens exist).
All the fee which will be earned in ETH through Trading shall be used to buy BDT Tokens from the BDT/ETH pair Market. This means that on every transaction, trading will immense in the BDT/ETH Market which gradually increases the value of BDT Tokens. Also, such BDT bought back from the market shall be permanently burnt by automated transfer to an Ethereum Smart Contract (BURN ADDRESS) which will burn all the transferred tokens forever and is irreversible.
How will it happen?
A. Every day at a particular Ethereum Block, an Ethereum Smart Contract shall place a buy order of the entire ETH balance collected during the day as Trading Fee in the ETH/BDT Market above the current best offer in the market. As soon as any part of the buying is successful, the BDT bought through the process shall automatically be transferred to an Ethereum Smart Contract (BURN ADDRESS), which will burn all the transferred tokens forever and is irreversible.
B. All the fee which will be earned in BDT Tokens shall be automatically burnt by en Ethereum Smart Contract (Burn Address) which means on every transaction, the scarcity of the BDT Tokens will keep on increasing and someday only a handful of tokens will be left. This is a great strategy for increasing the value of BDT Tokens as ‘Scarcity leads to a Higher Demand’.
The BURN ADDRESS is set to PUBLIC and can be seen by everyone.
5. Listing your Token on Blockonix Exchange
If you wish to list your own token on Blockonix Exchange, it is a straightforward process and such a simple process has never been seen on any other authenticated exchange.
Blockonix has a very nominal amount of Token Listing fee of 5 ETH or 1500 BDT for the New Token Listing. There is a small authenticity test made by the Blockonix team to check if the token is authentic or not. If your token is found out to be inauthentic then your Listing Fee is refunded back into your Ethereum account.
The Best Part:
The best part of Token Listing on Blockonix Exchange is even the token listing increases the value of BDT tokens. Amazing! Isn’t it?
All the Listing Fee that is paid in ETH by the Listing Company shall be automatically transferred to the BDT/ETH Market placing a buy order of the entire ETH balance collected during the day as Listing Fee on a particular Ethereum Block during the day. (The same process as in the case of Trading Fee)
All the Listing Fee that is paid in BDT by the Listing Company shall be automatically burnt by transfer to the Ethereum Contract (BURN ADDRESS). Such Burning of tokens is irreversible.
(The same process as in the case of Trading Fee)
This is a massive strategy to increase the value of BDT Tokens.
6. No Revenue Exchange
Blockonix will be the first ever exchange that will run without earning any revenue
As all the Fees earned through Trading as well as Listing shall be either Burnt or Used to buy back BDT Tokens from the exchange. Also, such BDT which is bought from the BDT/ETH Market shall also be burnt forever by automatic transfer to the Ethereum Contract (BURN ADDRESS).
Such Burn Address is kept Public by the Blockonix Team so that everyone is able to see how many tokens are being burnt each day.
This means that Blockonix will earn 0% revenue.
7. Most User-Friendly Experience
Blockonix has the most user-friendly interface ever seen in any decentralized exchange yet.
The Exchange is very simple to use and on the same time has the most advanced features for the expert traders.
With such an astonishing user interface, Blockonix is set to become the world’s number 1 decentralized exchange.
8. Launched with more than 200 Trading Pairs!
Blockonix is launched with more than 200 trading pairs including all the top Ethereum Tokens worldwide which is amazing for the communities of such tokens.
The Cryptocurrency Community has faced a lot of misfortunes in the recent past including the frauds by crypto exchange and Hacks such as the MT GOX and Coincheck Hack.
Making Blockonix ‘The Future of Cryptocurrency Trading’.
Bitcoin vs Dash: Comparing Bitcoin and Dash
Understanding some of the prominent benefits of Dash over Bitcoin.
Bitcoin is a very complicated cryptocurrency. Its mass adoption is not anything more than the fantasies of a dream, as the technology is too technical to be understood by the normal people. It is amazing, but not that simple to be effectively applied by the masses. Bitcoin scalability has always been a major point of concern and debate the community professionals, but doesn’t seem to be coming on any grounds regarding the matter. Also, the increase in the block size is been discussed for years together. The Crypto domain is to be a lot more ambiguous than it seems. It is no wonder that using the cryptos to transact is far more complex than using PayPal or Paytm. The amazingness of the cryptocurrencies doesn’t seem to be tangible enough relative to its complexities. Lets compare Bitcoin vs Dash.
Bitcoin vs Dash: Transactions
A long string of addresses feels quite unusual when one is extensively used to Fiat transfers. Currently, even the transaction fee has skyrocketed and if a particular transaction is not been attached with sufficient amount of transaction fees it might remain forever in the unconfirmed transaction pool itself. Hence even micropayments which were earlier possible seems to have been completely eradicated due to the high transaction fees.
On the other hand, the transactions on the Dash network is lightning fast when compared to Bitcoin. Dash even provides a special Insta send service which allows for a provision of getting the transactions confirmed quickly. Hence, people who aren’t patient enough to wait for hours together can opt for Dash. Due to the late confirmations price slippage might occur, which is another misery in itself.
Bitcoin vs Dash: Scalability issue
The dash community also strives to bring extensive cooperation between the stakeholders. This was clearly evident when the scalability issue daunted over Dash. The community members obviously had heated arguments as well as discussions but just within a span of 24 hours, they all decided to increase the block size. The problem which hasn’t been solved for years by the Bitcoin community and continues to persist even today. The problem was done in 1 day itself by the Dash community. The incident represents a strong oneness and reliability among them. This doesn’t mean that Dash is completely perfect but it’s ability to upgrade itself with time, is what matters, unlike Bitcoin.
There is also a PrivateSend feature available in the Dash network. By using this particular feature optional feature a user can completely hide his or her identity. As Dash is considered to be synonymous with Cash which has no digital footprint, this privacy feature undoubtedly adds to the convenience of the users.
Bitcoin vs Dash: Community Funding and control
It is absolutely worth mentioning, where the funding comes from, for these organizations. As Bitcoin network is completely decentralized and hence a number of prominent cryptocurrency institutions have come forward in order to fund for the Bitcoin development and research. But there is a catch, with funding comes authority over the decisions, hence the institution which is funding the community the most, it is an unwritten rule that it has the most authority over the decision making.
Whereas this is not the case, for the Dash community as most of the funding is done by themselves only. 45% of the total Dash funds go to the miners, 45% is received by the master nodes of the network, and the remaining 10% is utilized for the for the development of the community. In this case, there are a number of prominent master nodes whose decisions are taken into account in order to reach a common conclusion.
Bitcoin vs Dash: Public address
Another feature of Dash is its public address. Here each and every public address is associated with a human-friendly name, similar to an email address rather than a string of random characters. The transactions are made simpler by giving names to the addresses so as to prevent the transactions to reach a wrong destination. Since, once the transactions are initiated they cannot be reverted back this feature is crucial, as it associates rememberable names to the address.
Although Bitcoin was the Pioneer in the cryptocurrency trend it undoubtedly cannot be considered as the best solution for the current financial practical scenario. The cryptocurrencies like Dash have been coming forward who have their own set of pros and cons. It all jots down, to the need for the day, where currently scalability is one of the major concern. Hence the cryptocurrency Dash seems to be more promising than Bitcoin.
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- Bitcoin(BTC) 7359.81
- Ethereum(ETH) 463.169
- Bitcoin Cash(BCH) 783.267
- EOS(EOS) 8.01785
- Litecoin(LTC) 84.4634
- Cardano(ADA) 0.164847
- TRON(TRX) 0.0356434
- Dash(DASH) 244.767
- NEM(XEM) 0.170738
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