If you wish to know the details of Ethereum without delving into highly technical depths of it, this is your best option. It is vital to understand the basic underlying principles of the working of Ethereum and how it is different from other cryptocurrencies. Just like Bitcoin, Ethereum uses the technology of blockchain and is an open source platform enabling distributed computing to feature smart contracts. These smart contracts run exactly as programmed and do not fall prey to any network downtime, fraud, system failure or third party interventions.
Blockchain has been reconfigured to allow developers to build smart markets, store logs of liabilities and move capital in accordance with long given instructions. This powerful shared global infrastructure helps in exchanging value and displaying ownership. Developed voluntarily for Ethereum Foundation, a Swiss non profit organisation, this platform is supported by several operating systems including Linux, Windows, MacOS, POSIX, Raspbian. Applications such as electronic voting, trading, digital record of property assets are being developed and deployed at faster rates and brilliant customer satisfaction.
In even more simpler words, Ethereum is an open source and public platform developed upon the concepts of blockchain to help users create smart decentralized applications.
How does Ethereum differ from Bitcoin?
Both Bitcoin and Ethereum are decentralized, distributed open source, public blockchain networks however, there are major differences in its potential and purpose. Bitcoin is a peer-to-peer electronic cash system that enable transactions and purchases via Bitcoin payments. The Distributed Bitcoin network keeps a track of the ownership of each and every Bitcoin in the community. On the other hand, the focal point behind the concept of Ethereum is to run the programming code of a decentralized application. Just like E-mail was one of the most particular and spectacular use of the Internet, it wasn’t the only use and many more applications were developed based upon its concept. Similarly, Bitcoin was the foremost application of the Blockchain technology but isn’t the only one application.
In the Bitcoin community, Bitcoins are mined. However, a different form of cryptocurrency is used in Ethereum called Ether. Users do not mine Ether but earn them and make transactions and purchases on the Ethereum network using this Ether. Settlements on Bitcoin take an average of 10 minutes to pull through, however, Ethereum aims at an even faster processing time of just 12 seconds. Unlike Bitcoin mining which has a notoriously energy consuming process and is recommended only on industrially large scales, Ethereum works on a ‘proof of work’ algorithm which enables and encourages even individuals towards decentralized mining.
Another feature to take note of is that the internal code of Ethereum is Turing complete. In simple terms this means that as long as one has enough computer power and time anything on the network can be computed. This gives developers innumerable possibilities to work with.
Currency and Fuel of Ethereum, should you invest in ethereum?
Ethereum in itself is not a digital currency but an open source decentralised platform which no single point of control. All operations are not run by a central governing authority but a group of volunteers all around the world. The computational asset used to pay for services on this network is Ether. Not only are transactions settled using Ether, but it is also used to make any changes in any applications on the Ethereum network. This is a sort of transaction fees one needs to pay for successful processing of changes and thus Ether acts as a ‘fuel’ in the Ethereum network too.
Why should you invest in Ethereum in 2018?
Owing to the decentralised nature of the Ethereum network, it is immutable. Censorship is impossible and it is corruption and tamper proof. With no point of central control and secure cryptographic methods used, it is immune to fraud and hacking activities. The distributed network is run by a group of dedicated volunteers worldwide owing to which there is no scope of network downtime or network failure.
Any and all centralized service or application can be turned into a decentralized application. The only limitation one encounters while working with Ethereum is their own personal creativity. Anything from bank loans to voting systems and regulatory compliance and much more can be executed on Ethereum. One can also build a DAO – Decentralized Autonomous Organisation. Run on an ensemble of smart contracts written on Ethereum’s blockchain, DAOs are run on a code which replaces a traditional structure. This eliminates the need of a single regulatory body.
What does one mean by a smart contract?
A smart contract is simply a code which enables exchanges with respect to money, property or anything that holds some value on the Ethereum network. Once run, it acts like a self operating program when required conditions are favorable. Ethereum gives its users the flexibility of doing whatever sort of operations they wish to.
How to access Ethereum?
If one has educated themselves with the basic working and principles of Ethereum (which is the most important step before starting any venture), one would now obviously want to know where they could actually do all this work.
One of the simplest ways to get started is using the ‘Mist’ browser. Not only does it provide a user friendly interface to build smart contracts but also provides you a digital wallet. A digital wallet or Ethereum wallet is where one holds and secures their Ether and/or other digital assets that have been developed using Ethereum which are basically your smart contracts. Needless to say, it is important to keep the private key of your digital account wallet in a safe and secure location to avoid any unfortunate incidents.
Another option available is the MetaMask browser extension available on Google Chrome. One could easily get it from the Chrome Web Store here.
How to get Ether?
The next obvious step for a user would be to learn about how to get Ether. One of the most easiest and convenient sources to buy Ether is from a cryptocurrency exchange. There are several options one could explore such as Bitstamp, Coinsquare, Coinbase, Kraken, Cex.io, Shapeshift, Poloniex, Coinmama. It is important to choose the exchange which falls under your area of jurisdiction i.e. one which is not illegal in your country since you wouldn’t be wanting to face any criminal charges. Simply set up an account on either of these exchanges and use you money – hard cash via wire transfers or money in your bank accounts, to buy your Ether tokens. Always make sure that you store your assets in a secure digital wallet which is mostly always provided by these exchanges too.
One could also get their Ether tokens via peer-to-peer trading or by mining. However, the supply of Ether is virtually unlimited unlike Bitcoins (where only 21 million Bitcoins are available), users usually get their Ether tokens via a secure exchange. Once you have as many tokens as you wish or require, you can start building your own decentralised applications on the Ethereum platform.
Ethereum has slowly gained mainstream attention and more and more people are now actively considering building smart contracts using this decentralised platform. Ethereum is an invention which is here to stay and would soon change the way the Internet works. Ethereum is set to revolutionise the way industries work and the way services and products are provided to their users.
If one is still unsure about working with the Ethereum platform, there are several online courses one could make use of. Blockgeeks is one such option one could look into for assisted guidance. There have recently been several books in both paperback and Kindle editions, which could guide you and clear your doubts regarding Ethereum. Introduction to Ethereum and Solidity by Chris Dannen, Ethereum: A look into the world of Ethereum and how to trade and invest this cryptocurrency! by Ben Abner, Investing in Ethereum: The Ultimate Guide to Learning and Profiting from Cryptocurrencies by Oscar Flynt a few books one could look into.
Binance completes its 1 year, here are 15 things you should know
15 characteristics of Binance that makes it so convenient for the customers
The exponential increase in the value of Bitcoin in the previous year opened the eyes of investors as well as the traders as they realized the potential of the cryptocurrencies and the Blockchain Technology which can be used to transform many fields. Bitcoin was not the perfect cryptocurrency, it had certain drawbacks and hence to overcome them, a number of other cryptocurrencies were created.
However, the number of cryptocurrencies available now is a lot more than required. This has put the investors in a state of confusion as to which particular cryptocurrency to choose from in order to get best returns. Making best profits require less transaction fee and a lot of service capabilities provided by the medium through which we perform the trading, which is the cryptocurrency exchanges.
Binance was actually initiated in the year 2017. It has almost been one year since its initiation and the exchange has reached the pinnacles of success.
Below are some of the key features of Binance which makes it’s so reliable:
- The word Binance is actually a portmanteau of Binary and Finance.
- Binance has proven to be one of the best among all the other cryptocurrency exchanges. With its initial coin offering done in July 2017 as an ERC20 token BNB, the exchange managed to raise almost $15 million.
- It was after this particular exchange that the other cryptocurrency exchanges started to incorporate the ICO
- Originally, the cryptocurrency exchange was founded in China but due to the regulations in the country, in September 2017 it had to move its servers from China to Japan.
- The founder of the exchange, Changpeng Zhao is well known for creating some systems which are even now used on the Tokyo Stock Exchange. This experience might be the reasons for the success of Binance.
- The cryptocurrency exchange covers a large spectrum of Altcoins with over more than hundred cryptocurrencies available to trade.
- The cryptocurrency trading fees are also very less in the industry. It is only 0.1%.
- There is an added advantage of using the binance coin, BNB for the transactions where the users can get 50% discount on their fee.
- There is no transaction fee as well as a limit for deposits. Anyhow there is a transaction fee as well as certain amount of limit for the withdrawal of Bitcoin.
- If the user needs to withdraw more than two Bitcoins then extra verification procedures must be followed by providing various identification proof such as a passport.
- The cryptocurrency exchange can be considered as a launchpad for various coins. This is evident as, as soon as the ICO for a coin is ended, it is available on this particular cryptocurrency exchange.
- The exchange incorporates a two-factor verification model where are unique code is sent to the customer’s mobile phones whenever a login attempt is done.
- The cryptocurrency exchange has the capability of processing over 1.4 million transactions per second. Hence the buyers and sellers consider this exchange as a preferred option over the other exchanges which has low trading volumes.
- The only biggest disadvantage of this exchange is that it doesn’t accept the Fiat currencies. Other cryptocurrency exchanges accept Fiat currencies in the form of credit card, debit card or Paypal payments. This is the main reason why the beginners cannot start directly with Binance.
- It even provides an advanced option for experienced cryptocurrency users. The advanced option displays detailed statistics about the price movements of a number of cryptocurrencies which cannot be understood by novices.
The exchange’s consistent updations with the regulations as well as technology are the crucial factor for its success. The CEO, Changpeng Zhao is well known in the cryptocurrency world for his expertise in the field. Also, BNB is experiencing an upward movement when the whole market is facing a downfall. According to reports, the exchange is all set to include EURO trading pairs along with doubling the referral commission rewards which would again add to its customer base.
Switzerland and cryptocurrencies
The wealth management industry has always found itself as a major darling in Switzerland. Housing about 27% of the global offshore wealth, Switzerland has always been a sort of money hub of the world. Owing to their wonderful financial market, it is hardly a surprise to see them flourishing on the digital currency front too. The world has been very harsh towards digital currencies and several countries, even till date, have been apprehensive about them. However, Switzerland was one of the first countries to adopt digital currencies and the flourishing ICO (Initial Coin Offering – an unregulated means to raise funds for new cryptocurrency ventures) market is helping Switzerland accelerate fast towards the status of a ‘Crypto Nation’. It’s great involvement in the subject matter and quick moves in this fintech industry has brought Switzerland at the epicentre of cryptocurrency revolution.
Here are a few insights about the cryptocurrency scenario in Switzerland:
- Switzerland is fasting emerging as an ICO hub and this flourishment is largely owed to the great variety of rich investors and technical specialists, something that has always been Switzerland’s strong point. Economic experts and big financial players believe that Switzerland would be one of the strongest value holding contender in the future when digital currency becomes more mainstream.
- Not just digital currencies, Switzerland is also emerging as a great ecosystem for blockchains and other distributed ledger technologies. With the recent the implementation of forward-looking regulation by the Swiss Financial Market Supervisory Authority, Oliver Bussmann, the founder of the Crypto Valley Association said, ‘Switzerland is emerging as one of the world’s leading ecosystems for crypto, Blockchain, and distributed ledger technologies’.
- The First Bitcoin ATM was set up in Zurich four years ago in 2014. Moreover, the Swiss national rail company has since 2016, been providing the possibility of purchasing Bitcoins at over 1,000 distributors across the country.
- Zug, a small town a little while away from Zurich, has always been an economic hub owing to large investment firms, pharmaceutical companies and commodity trading groups. This place has unofficially become “Crypto Valley”, set up in 2013 their explicit aim is to draw startups dabbling in virtual currency technologies.
- Zug’s Crypto Valley claims to be receiving 5 – 10 queries per day from startups that work in the blockchain and digital currency sector. To flourish and increase the popularity of digital currency and educate the people about how it can be used for practical purposes too, Zug started accepting in 2016, Bitcoins as a legal payment mode for council services.
- According to the Swiss financial watchdog Finma, out of the world’s six biggest Initial Coin Offerings (ICOs) last year, four took place in Switzerland.
- The foundation of the second largest digital currency platform after Bitcoin, Ethereum, along with almost 200 other blockchain based companies is all credited to the land of Switzerland.
- There has been a lot of healthy competition in Switzerland for further advancement of digital currencies. Accordingly, the southern Italian speaking Swiss town of Chiasso, has been in healthy competition with Zug so as to establish itself as a “CryptoPolis”. It has started accepting bitcoin payments for some taxes.
- Finma recently warned people against the threats of money laundering in digital currencies stating that, ‘in a decentralised blockchain-based system, in which assets can be transferred anonymously and without any regulated intermediaries.’ Owing to the sharp increase in the number of ICOs in Switzerland, regulators outlined regulation guidelines for these fundraising schemes saying, ‘Creating transparency at this time is important given the dynamic market and the high level of demand’.
- Vontobel, one of Switzerland’s largest banks, created the first structured bitcoin product which is basically a tracker that lets an investor not to actually purchase any digital currency directly but to make an investment in its shifting value. Despite the involvement of some big names in the crypto pool, there still are several big names like UBS and Credit Swisse who have decided to keep their distance since they do not consider it valuable or sustainable in the long run.
- Falcon Private Bank, a Swiss private banking boutique headquartered in Zurich, has offered asset management services for a huge range of digital currencies (including bitcoin and ethereum).
- Switzerland’s openness to business innovation is another huge reason why it has been so successful on the digital currency front. Martin Eckert at MME has mentioned and applauded Swiss regulators to be one of the few ones who actually have good and deep understanding of the subject matter i.e. of the underlying technology and its complete working.
- The Internal Revenue Service, Criminal Investigation, deals with potential criminal infringements. Its Editor in Chief, Don Front, recently made a statement to Bloomberg News stating that is is possible for people with ill will to try and use these digital currencies in a way similar to Swiss accounts which would help them evade taxes. Accordingly, the IRS-CI has recently set up a team of special agents that would be investigating and providing proof of whether or not these digital currencies are being used to cheat the tax authority.
- 2017 was a big year for Swiss based ICOs. In the whole year, these ICOs raised about $550 million in funding. This makes up for almost 14% of the global ICO market, which stands at around $4 billion. The Zug based company, Tezos ICO raised around $232 million in July 2017.
- Switzerland’s approach to the entire digital currency market has been described as pragmatic by some and opportunistic to a certain extent by a few people. Kari Larsen, an attorney at Reed Smith in New York, has international experience in managing global commercial and legal risks. She reportedly stated that simply welcoming without looking where the consumer and market appropriate is rather a short sighted approach by Switzerland since it could soon face competition from places like Gibraltar which would eventually lead to damaging competition to attract ICOs.
Top 10 Bitcoin Advertising Network Platforms
Best Bitcoin Advertising networks as of 2018
Advertising can be considered as a form of providing an information to the people so that they are aware of the product or service they provide. In olden days people used to march around the whole village holding banners to advertise the product or a service to the people. But as days have passed by modern methods are used for advertisements. The current generation online and hence instant, therefore the advertising industry adapted to the situation in order to meet the requirements. A whole new spectrum of opportunities has evolved in the online marketing industry.
The cryptocurrency world is seeming very promising to many people and is hence trying to find out ways to earn them. Advertisements are one of the means to get them. If a person runs a website which is related in publishing the cryptocurrency related contents then if he ties up with an Advertising network then that company would pay him to show their ads on his webpage. In particular, if the website is related to Bitcoin then collaborating with a Bitcoin Advertising Network would be a preferred option. Some of the most popular Bitcoin Advertising Networks are listed below.
- A-ADS (ANONYMOUS ADS). It is regarded as one of the best in the field. As the cryptocurrencies and the Blockchain Technology aims at providing complete transparency and therefore privacy, the company seems to follow it’s footsteps and doesn’t track the personal data. It does so, by not allowing any cookies to be left on the visitor’s computer. They are one of the oldest Advertising Networks that still exist. It offers only Cost Per Click (CPC) and Cost per Thousand Impressions (CPM) type of advertising models. They have no restriction on the type of website that they collaborate with is the minimum traffic limit that a particular website should have.
- Coinzilla.IO. One of the most famous advertising networks along many other is COINZILLA.IO. The advertising network strives to provide the most relaxed and high-quality advertisements to its customers. The publisher has an advantage of fast website approval. Payment is done here only in Bitcoins. It is held for a period of seven days in order to avoid or check the fraudulent activity/clicks on the website. The minimum payout is around 0.001BTC with a fee levied upon it of 0.0001BTC. Here, the one of the requirement is that the website must be more than 3 months old.
- ADVERTI – INNOVATIVE Bitcoin Advertising Network. It is one of the most innovative Bitcoin advertising networks and it even claims that it provides more than 100 million impressions on websites on a monthly basis. It is one of the best advertising networks providing the highest revenue. It employs CPM advertising model. The payout can be in both USD as well as Bitcoins. A split up the option of the payout is also available. The company does not accept adult websites and also it must be at least three months old. They also support Paypal as the payment method.
- MELLOW ADS. They are also one of the leading Bitcoin Advertising Networks which specializes in providing banner advertisement as well as a pop-under advertisement models. An automatic payment system is available here and a 10% pay provided is provided for network campaigning. The website must have at least three months of history and a manageable Alexa ranking. The payment is done only in Bitcoins. This particular advertising network is very fast growing with almost 8.2 billion banner as well as pop-under ad Impressions within past 30 days.
- COINURL. It is one of the most popular organizations providing an URL shortening service. A URL shortener is nothing but a tool which is used to reduce the length of the uniform resource locator which redirects to the original page itself. However, it is also a Bitcoin advertising network. It provides a banner advertisement model where the publisher is paid using the Cost-per-click system. All kinds of websites are supported and the payment is done on a daily basis.
- Bitmedia.IO. It is currently supporting more than 4000 websites which deliver almost 3.6 million ad Impressions. The Advertising Network is best suited for crypto-related Niche websites. The payments are done on a daily basis with a minimum payout being 0.01 BTC. It specifically requires the websites which are cryptocurrency and Blockchain related. Websites with spams and auto-redirects would not be accepted.
- COINTRAFFIC. It is another Bitcoin advertising network which places its advertisements on its list of cryptocurrency and Bitcoin websites. It is estimated that the company imparts almost 3.6 billion impressions per month. The company supports websites without adult content. There must be 10000 unique visitors every month and hence it must be a top domain. It offers CPC and CPM based advertisements with no bonus for referrals.
- CoinAd. This Bitcoin advertising network is very unique from all the other networks. It is unique in a way that they impose strict requirements for the websites and new publishers can get in touch with them only on an invite basis. It is considered to be a privilege if one manages to collaborate with this particular Bitcoin advertising network. The publisher will gain enough profit if his website is of good quality and receives a lot of traffic. The payout is done on a weekly basis in Bitcoin or by using PayPal.
- Adbit. This advertising network is a part of BitRush. Here the various advertisers compete with each other and bidding is done for the ad space provided on your website. Hence the publisher can gain maximum profit out of his ad space provided. The payment is done instantly with every click which is done in the advertisement.
- Bittraffic. If the publisher’s website of a niche type then this service can effectively be applied in order to earn money. It can reach thousands of customers within a matter of few hours itself. The service is available worldwide. It provides CPM and CPC type of ad model. Payment is done in various cryptocurrencies.
Binance completes its 1 year, here are 15 things you should know
Switzerland and cryptocurrencies
John McAfee says he won’t promote ICOs anymore
Top 10 Bitcoin Advertising Network Platforms
Coinnounce launches TradingSim, a 100% free crypto trading learning tool
10 steps on how to start trading on Binance
How to make an account on Blockchain.info
15 insights on Multiwallet by Freewallet
Insights on Zcash, Monero, Nebulas, Hshare, and Cybermiles
Why you should start using Brave Browser
Top 5 Bitcoin exchanges from India
Top 10 crypto scams around the globe
Can ripple reach $1000 by 2019?
Top 10 cryptocurrency exchanges from Japan
Zebpay: 10 Steps to start trading Bitcoin and other Cryptocurrencies in India
Live Crypto Prices
- Bitcoin(BTC) 6676.89
- Ethereum(ETH) 518.663
- Bitcoin Cash(BCH) 853.797
- EOS(EOS) 10.239
- Litecoin(LTC) 94.6218
- Cardano(ADA) 0.155537
- TRON(TRX) 0.0478371
- Dash(DASH) 257.511
- NEM(XEM) 0.187717
Altcoins4 weeks ago
Are Bitcoin, Ethereum, Litecoin still centralized?
Blockchain Uses4 weeks ago
Mechanizing of blockchain: The big Hit is approaching!
Expert Take4 weeks ago
How to invest in Initial Coin Offerings (ICO)
Altcoins4 weeks ago
Death of Cryptocurrency – Crypto World can’t get along
Blockchain Uses4 weeks ago
Barcelona To Open A Blockchain Centre In The City’s Technology Centre
Bitcoin4 weeks ago
10 Wealthiest/Richest People in Bitcoin
Altcoins3 days ago
Can ripple reach $1000 by 2019?
Blockchain Uses4 weeks ago
10 Most Influential People in Blockchain & Bitcoin