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10 videos to watch to fully understand Blockchain Technology

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The 10 most popular videos, which explains Blockchain Technology in a very simple manner, one can refer in order to understand it completely.

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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

Conclusion

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.

#Bitcoin

New to crypto? Buy only the original Bitcoin BTC, do not fall prey to shitcoins

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Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known and if you are new to cryptocurrency, trust only BTC

Comprehending the rationales for the dominance and reliability of Bitcoin over shitcoins.

 

The anonymity of Bitcoin developer is the key to its acceptance

Bitcoin, having the first movers advantage has a lot of influence on the crypto community. Due to the various reasons, bullish momentum or bearish trend of Bitcoin is followed by all the Altcoins, but there are some exceptions. Any form of Fear, Uncertainty, or Doubt, affects the world’s first cryptocurrency and later on, due to the ripple effect, all the other coins closely associated with Bitcoin, fluctuate respectively. The censorship free kind of Blockchain platform offered by Bitcoin is highly useful to the customers who are obsessed with privacy or anonymity. Bitcoin, in fact, is the only cryptocurrency whose founder is not known until now.

 

Cryptocurrency is equivalent to Bitcoin

According to statistics, it has been estimated that among the merchants accepting cryptocurrencies, Bitcoin is accepted by 80% of them. The fame is so well seeded in the minds of people that “Bitcoin” is at times considered to be pseudonymous with “cryptocurrency“. Therefore, even the merchant’s have incorporated the Bitcoin payment system, as it is mostly used by the people. The number of Merchant stores accepting Altcoins but not Bitcoins is very rare. This insight clearly makes it evident that each and every individual are exposed to the cryptoverse only through the popularity of Bitcoin.

 

Bitcoin attracts Development, not Shitcoins

All the major venture, in the form of Research and Development, takes place in the name of Bitcoin and maybe further is expanded to other Altcoins. This particular reason is enough to give an overview of the Bitcoin reliability. The Bitcoin network, although experiences scalability issues, but it’s popularity has never been on a negative scale.

 

The cause for the anonymity of Bitcoin inventor

The mastermind behind the Bitcoin project, who called herself/himself Satoshi Nakamoto, has been anonymous since the invention of Bitcoin. Even until today’s day is identity has not been revealed, therefore, the users of the Bitcoin blockchain can subconsciously be assured about the security of his funds on the network. Else, even for the futile activity of the developer, the community would start to speculate about the future of the coin. Consider, Altcoins for example, where all the Altcoins have some or the other owner. Any speculative activity of theirs would spur FUD in the respective community.

 

Added perks of Bitcoin over Altcoins

Being anonymous also ensures an immunity against the government seizures. Pause and imagine, if the owner of any Altcoin was alleged for some issue, irrelevant of crypto, then his/her venture may be taken down by the government. The distributed nature of Bitcoin and anonymity, seeds stability in the network. The community members also start to judge the project based on the capabilities of the team members, in the case of Altcoins. The Bitcoin network is spread across the world, and it can also be considered bigger than the Internet. According to computer scientists, the entire Bitcoin network dominating the globe is around 11000 times powerful than the top 500 supercomputers from the world combined. Bitcoin even dominates for the highest number of wallet addresses registered. It qualifies to be, the top cryptocurrency to be listed on most of the exchanges around the world.

 

The Shitcoins aren’t made for the global Cryptocurrency

Many other Altcoins like Litecoin, Ethereum, etc are popularly known as Shitcoins because of their undirected focus towards becoming a global cryptocurrency. In simple words, these cryptocurrency coins are specifically developed, not to become a global cryptocurrency but for other futile and short-term purposes. Utility token is the other name for such coins, which would not gain widespread acceptance, because of their popularity and acceptance only in a single stream. On the contrary, Bitcoin is a generalized form of cryptocurrency known by everyone.

 

Closing thoughts on acceptance of Bitcoin for the beginners

The acceptance of Bitcoins in various countries, across the world, may be restricted due to their legal implications. Therefore, Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known by the masses and an immense amount of information is available on the internet as well, regarding Bitcoin.

 

Note: Cryptocurrency investments are very risky and this article is not, in any way, an investment advise. The article is only the opinion of the writer and you should do your own due diligence in researching about any digital asset you wish to buy.

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#Blockchain

John Mcafee: Trust only Decentralized Exchanges

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Decentralized exchanges (DEX) will before long gain the core of the cryptocurrency network with parts jettisoning centralized exchanges.

John McAfee, the security master turn cryptocurrency devotee, who is accepted to have the precious stone ball for his correct expectations in the cryptocurrency showcase as he would like to think says that decentralized exchanges (DEX) will before long gain the core of the cryptocurrency network with parts jettisoning centralized exchanges. This he says will drive them to shut down.

 

Decentralization Over Centralization

His most recent assessment is joining that of Ethereum’s prime supporter, Vitalik Buterin who remarked around two months back, saying he “certainly trusts centralized exchanges go consume in damnation however much as could be expected.”

Despite the fact that McAfee’s reasons are somewhat not quite the same as that of Vitalik’s, McAfee trusts the following five years would convey decentralized exchanges to the spotlight, pursuing centralized exchanges to annihilation.

In his view, the world will grasp cryptocurrencies and blockchain due to its “permissionless characteristics.” Citing a case between two gatherings in a money related exchange, he says in the present budgetary framework, the experts could put a stop to such exchange. Same goes for centralized exchanges as he says they could end up deceptive, utilizing clients assets voluntarily, solidifying people assets, or closing down completely without being followed.

With blockchain, he says holds “confirmation of reality”; record of truth. Furthermore, notwithstanding when something occurs, it’s anything but difficult to spot if it’s actual or not which by and by is impossible with centralized exchanges.

Prompting the crypto network, he says all everybody needs is “presence of mind,” which will make everybody understand that centralized exchanges cause more mischief than anything to the vision of cryptocurrency and decentralization.

 

Blockonix – A 100% contract based DEX

Blockonix is based on the Ethereum platform and completely run by a collection of smart contracts. The users of Blockonix have the facility to trade cryptocurrencies of their choice without the intervention or control of any of the developers or the team members of the exchange. In simple words, the user is the only person who is in the complete control of his funds. Privacy is one of the major concern and is not at all compromised in case of Blockonix. The whole system runs on the Distributed Smart contract environment.

 

0.03% Transaction Fee on Blockonix

You read it right. Trading fee on Blockonix is only 0.03%. This fee is collected in Ether or BDT, apart from the gas price. This collected Ether or BDT is not the exchange’s profit. Rather 100% of the fee collected is used to buy back and burn BDT, decreasing the total supply of the native token, whose use is to avail 70% discount on the trading fee on Blockonix.

 

What do you think about decentralized exchanges? Let us know in the comments section below.

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#Bitcoin

How Bitcoin is a boost to the IT Industry Worldwide

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IT world keeps changing always and what is better to than to tell that digital currencies like bitcoin changes it even more, for the better or worse.

IT world keeps changing always and what is better to than to tell that digital currencies like bitcoin changes it even more, for the better or worse.

 

Following are some reasons how bitcoin boosts the IT industry:

Bitcoin for Payments

Payments among many IT industry has always been changing with many changes in policies where payments are made from other countries or any other mode of payments by making the amount to be paid high which cannot be sent quickly and with the IT crimes it is even more fearing to send this big amount of money through transfers and this brings the industry more towards digital cryptocurrencies especially like bitcoin which is the best among them.

 

Bitcoin Market capital

The market capital of a cryptocurrency is always higher and it is explaining its worth in many different ways by its features and usage. Changes keep happening in cryptocurrency and when player like bitcoin comes into the market they give a very good kind of gesture in the methods and process of the IT industry and allows more companies with the largest share of cryptocurrency to transfer money without any obstacles and requiring very less power of computation too. Bitcoin revolutionises the market as we know it.

 

Quality of Bitcoin

Bitcoin has the potential when it comes to terms of assurance its gives for quality. Companies can link many parts of their supply chain and other operations to make it easier to solve problems and arrive at solutions and in cases like this bitcoin have a feature of immediately sorting of the issue.

Not just as money but as also in terms of process and the value it gives to the process that take place within the company by just using this cryptocurrency makes sure that the right quality is delivered at the right time and right place.

 

No backing out

In IT industry sometimes, projects are closed or terminated without payments through bank transfer or cash but bitcoin payments put a full stop to that as once paid it is irreversible. It may be a bane in certain cases but it is definitely a boon to companies when they have clients who back out without paying or paid and cancelling the transfer before the money reaches after they get their job done.

 

No requirement of permission

When someone or some company wants to build a financial operation with bitcoin then bitcoin does not require any kind of permission to be given or waited for transfer. This also fosters innovation too as payments can be made for all requirements needed without wait and this leads many processes to complete faster and also gives opportunity to many people who are waiting in line to get their projects and ideas started.

 

Privacy

With the changing technology and world privacy is something that comes at very high price and sometimes even at high prices one can find it so hard to have some kind of privacy. With improving technology in IT industry many new inventions are made which require high levels of privacy in terms of money and announcements too. Often private projects are found when transactions are made. Bitcoin puts a full stop to this trouble and comes up with a big solution by providing high levels of privacy. There is no central command or authority over bitcoin by anyone.

Bitcoin is providing confidential transaction / zero cash now and working on it for better privacy and implementations.

 

Borderless

Any transfer anytime any place any amount is being possible with bitcoin. It can be transferred from any country to country without even having access to the internet and in some cases even without internet availability.

No matter the distance or the occasions transferring of funds and money have never been faster and easier as the speed it takes to transfer using bitcoin cryptocurrency.

 

Smarter decisions

With bitcoin companies are able to make smart decisions by making way for the company to handle big projects with large amounts of money transaction to take place without any confusion and delay. With bitcoin the companies get the chance to think quick and act fast with their decisions and also rectify their mistakes quicker for the better and be better the next time.

 

Supply chain

Bitcoin can have list of resources being handled through it within the organisation. It can keep a maintenance of what comes in and goes through the means of its transactions.

Bitcoin destroys the old traditional methods of transaction and especially the record keeping part. It changes everything as we know and in the field of IT where constant changes is prominent, bitcoin adds more change to it. The best feature about bitcoin is that the companies do not need to understand how it operates in order to use its features and use them for their transactional purposes.

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