Connect with us

#Blockchain

What is Decred Token? Is it worth investing?

Published

on

The Decred token was launched in February 2016, and has experienced widespread acceptance throughout its community members.

Realising the working paradigm of the Decred token and its acceptance.

Introduction

Decentralization is the new trend of the decade as cryptocurrencies and Blockchain Technology has overtaken some of the most prominent industries with their robust and secure principles. The cryptocurrency market contains almost more than 3000 variety of the cryptocurrency tokens. This, sole fact, is enough to realize the growth of the cryptocurrency domain within the past decade. As people were furious with the centralized form of financial economy, the invention of Bitcoin in 2009, opened ways for people to tackle this problem and provide highly effective methods, by creating a globalized financial economy. Cryptographic principles and the Distributed Ledger Technology are two of the main pillars of the Blockchain technology, which provides it with unimaginable capabilities. Let’s gain some insights regarding one such cryptocurrency token, Decred token.

 

The Decred token

The Decred token was invariably initiated to tackle the centralization issues related with the Bitcoin mining. As the Bitcoin mining equipment was becoming expensive day by day, only a few notable industry figures were capable of upgrading themselves regularly, which led to the centralization of Bitcoin mining and indirectly controlling the prices. Hence, the Decred token makes sure that the mining of the cryptocurrency, is distributed with equal priority among all the miners.

The Decred token was launched in February 2016, and has experienced widespread acceptance throughout its community members, as it aims to work on the problems of Bitcoin and improve them. Degrade token was once only $1.2, But now its value has increased and is hovering around $42. The transactions with respect to the Decred token is anonymous as it employees multiple algorithms for the same. It even incorporates both Proof Of Work and Proof Of Stake consensus mechanism in order to bring in a stability to prevent the centralization of the mining process.  

  • Further attributes

    • The Decred token Blockchain platform even supports, the amazing functionality of atomic swaps, where the users can get their cryptocurrencies exchanged with other, without involving any intermediary like exchanges. Since it supports Atomic Swaps, it is automatically understood that it must incorporate The Lightning network for the same.

 

    • In the most recent updates, released by the Decred token development team and assist in the improvement of the time taken for the hash calculation. It’s another prominent update modifies the calculation logic itself for the hash calculation which indirectly has rendered the process to become highly efficient. It was also observed that the new update was 306 times faster than the original speed.

 

    • However, the Decred token seems to be highly undervalued in the eyes of the cryptocurrency community in general, but on the contrary, the Decred token solves various problems of not only Bitcoin but also the crypto verse in general. Nevertheless, people will, sooner or later will realize its potential, to take the whole cryptocurrency market by storm.

 

    • The Decred token is also well known for its governance and voting mechanism. Some of the other cryptocurrencies like EOS and Tron, are testing their pilot projects in order to develop such a governance system.  
    • One of the prominent features of the Decred token is that during its development, a consensus was formed opinions were taken from the community members rather than the decisions being taken by some of the experts only.
    • Decred token is being listed on some of the most prominent cryptocurrency exchanges around the world like Bittrex Cryptopia, Huobi, Upbit, CoinEx, Bleutrade, OKEx, etc. In case of the Decred token, it is worth mentioning that the 51% attack can be possible only when the hashrate of the Decred token is low. When the Decred token hashrate rises it becomes more and more difficult for the hackers to gain access to the network.  

Is a good investment option?

The Decred token was developed by some of the early developers of Bitcoin. Having considered their experience in the field, the Decred token might seem to have a promising future.  Decred token even witnesses constant updates from its developers which improves its capabilities each time. With such promising attributes, the Decred token can be considered as a viable option for cryptocurrency investment. However one must conduct their personal research prior to investing in any currency for that matter, as they are highly volatile in nature.   

#Bitcoin

Can Bitcoin be Traced?

Published

on

Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

To track the person who received the bitcoin, the address owner must be aware of it.

However, governments do not want bitcoin owners to be unknown, and they are trying to regulate bitcoin in a way that can be monitored.

It’s nothing new since people have been doing blockchain analysis and bitcoin tracking since bitcoin was used to exchange stuff on the internet.

 

Is Bitcoin Anonymous?

As Bitcoin has become more popular and some criminal activity has been disclosed on the Bitcoin network, many people have wondered whether their Bitcoin transactions are anonymous or whether there are some essential complexities that they should be aware of.

Bitcoin tumblers allow many different users to put their cryptocurrency in a “bucket” and then return the same bitcoin value to each user, but with bitcoins put into a bucket by other users.

Bitcoin is not entirely untraceable, but it is a common misunderstanding, as Bitcoin is well known for masking user identity.

 

Users who rely on bitcoin exchanges ( such as Bitfinex, Binance or Kraken ) to exchange money for bitcoin must disclose their personal information to such an account.

However, governments are beginning to introduce new rules that could force an anonymous Bitcoin exchange to verify the identity of a new user before allowing them to purchase Bitcoin with fiat currency.

Create multiple addresses so that bitcoin can be randomly distributed, making blockchain analysis more difficult and anonymous.

 

Bitcoin is often presented as an untraceable payment method that facilitates illegal activities by allowing criminals to make and receive payments without being monitored.

There are many ways in which the identity of a person can be exposed to bitcoin transactions.

 

Now you have your bitcoin clean; you don’t want to waste all the hard work of using it in a trackable transaction.

As such, if you can pay with bitcoin and rely on the trader not to keep any PII records, the purchase may be anonymous.

If you prefer to spend your bitcoin on other cryptocurrencies or cash, the easiest thing to do would be to go to the exchange.

Portfolios, currency exchanges, mixing companies, and P2P sites have all been used to cheat bitcoin users.

Keep in mind that bitcoin is still the most widely accepted cryptocurrency.

 

Bitcoin is the only virtual currency with enough people who want to buy it to become moldy.

Cybercriminals use the creation and monitoring of Bitcoin portfolios, which can be done automatically, helping them find out which victims have paid.

Bitcoin transactions are public and contain all the information we need to track ransom payments, provided that we know which wallets to look at.

In most cases, payment tracking is not as easy as cybercriminals move bitcoins through multiple wallets to avoid payment tracking.

 

So, if you’re still thinking about using Bitcoin for your transaction gateway, be careful that you can track it as well.

Most users use online bitcoin exchanges to exchange bitcoins for real currency, such as bitpay, coinbase, localbitcoins, etc.

As the number of pro traders is slightly lower in online markets, it is easy to look at the bitcoin transaction by going to their bitcoin address.

 

Oaktar can be used to collect much more than the information needed to identify and link someone to specific Bitcoin addresses and transactions and can do so without relying on cryptocurrencies.

As alarming as oaktar and its activities, no new information has recently emerged to indicate that the NSA has expanded its Bitcoin monitoring efforts to other cryptocurrencies.

These protocols include CoinJoin, Dark Wallet, bestmixer, io, sharecoin, and coinwap, all of which also offer Bitcoin and other cryptocurrencies the possibility of anonymizing their transactions.

In the meantime, the more direct and intrusive methods of the NSA are also based on the fact that crypto users unconsciously compromise their internet connections, which could not be expected to monitor all cryptocurrency transactions in mass.

 

Bitcoin, the Internet currency loved by computer scientists, libertarians and criminals, is no longer vulnerable.

But Bitcoin ‘anonymity is also a powerful tool for criminal financing: virtual money can keep shady transactions secret.

Continue Reading

#Blockchain

Forbes releases top 50 blockchain companies list

Published

on

Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

Continue Reading

#Blockchain

JPMorgan expanding itself into the blockchain and crypto space

Published

on

JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

Continue Reading

Keep up with Bitcoin & Blockchain Technology Trends

Simply enter your email address in the box below and sign up for emails from Coinnounce regarding trending cryptocurrency, bitcoin & blockchain topics and offers.

This information will never be shared with third parties.