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Why we choose Ledger Wallet?

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Why to use ledger wallet

Why we at Coinnounce choose Ledger Wallet?

The Ledger Wallet is a hardware wallet meant exclusively for you Bitcoin digital tokens. People have been looking into this option of a digital wallet more and more and with increasing popularity, people need to make a few things more and more clear so that they are absolutely sure that this is the right choice for them and this decision is what will suit them the best.

That being said, here are a few pointers about the Ledger wallet to make you understand the subject matter better and to help you get started with it by knowing a few facts about this hardware wallet which has been providing maximum protection level to your Bitcoins without compromising your usability of the wallet or your control over it.

 

  1. Launched in 2014 by 8 experts (having expertise in several domains like entrepreneurship, embedded security and digital currencies), Ledger Wallet is a growing company with accelerated pace and has been constantly developing security and infrastructure solutions for several digital currencies and also for several blockchain based companies, startups and initiatives. 
  2. They have clients in over 165 countries and have already sold 1000000 ledgers till date with about 100 retailers globally. They offer infrastructure solutions which are completely customisable to safeguard the digital assets of Hedge Funds, Banks, and High Net Worth individuals.  
  3. The Ledger wallet company recently raised $75 million on 18th January, 2018 to secure digital currency assets.  
  4. They offer the Ledger Nano S hardware wallet to store digital currencies. It is very compact and durable with an OLED screen and buttons. Multiple digital currencies can be stored in them and this hardware wallet is also very extensible to other apps as well. The range for this product starts at about $92.20. 
  5. Another product they offer is the Ledger OTG Kit which has an on the go cable kit. This all in one cable kit has a cable which is a dual USB type C and micro USB cable and is supported by all Android phones. The range for this product starts at $14.59. 
  6. Gemalto, the world leader in digital security, joined forces with the Ledger wallet to provide enhanced and customised security infrastructure for digital currency based activities. This shows how driven Ledger is towards providing its users and customers high level, top of the game security products for their digital currencies so that they get to witness a better customer satisfaction. 
  7. The Ledger Wallet is a decentralized wallet and it thus does not store any of your private keys. The private keys are generated during the initialization process and the Ledger itself never gets to actually create a copy and save those private keys in its own database.  
  8. For added security, every single time the Ledger hardware wallet is connected to your computer using a USB cable, you are required to enter a PIN code which has to be gotten correct in the first three tries, failing which, all the contents of the Ledger wallet are erased permanently and the hardware wallet is thus reset.  
  9. There are several major benefits of using a hardware wallet over a paper wallet or a wallet in the form of an encrypted private key on your computer. It provides a sort of complete isolation layer between your private key and your computer or other device which can be easily hacked into. Thus you receive a complete barrier between you and your digital connected world.  
  10. The interface and functionality of a hardware wallet is very much different than a software wallet. On your computer, even if your private keys are stored in an encrypted form, whenever you sign for your transactions, they would be of course present in plain sight in your computer memory which makes it liable to be stolen by anyone. 
  11. The Ledger wallet runs on a system of two verifications. A second verification is compulsorily required to make your transaction successful. A second code stored on a different offline card is the code that would authenticate your second verification. This enhances the security potential to a whole another level by providing an additional offline security layer for the Ledger wallet. 
  12. To use a Ledger wallet, you do not need to open an account or sign up and pay for any sort of a monthly or yearly subscription. All you have to do is buy a hardware wallet for yourself, assemble it and start using it without any signing up or paying for a subscription. 
  13. In case of your Ledger Wallet being stolen, damaged or you having lost it, the Ledger Wallet provides you a backup option. When you initially fire up the wallet, during the initialisation process, a paraphrase is generated which is a sequence of randomly generated 24 words. This paraphrase can be used in the event of losing or damaging your Ledger wallet to retrieve your precious digital currencies.  
  14. The private keys that you store on your hardware Ledger wallet are stored on chips and they never leave them. These private keys are not accessible to anyone, even to the computer that this particular Ledger is connected to. Thus making it very safe and secure. 
  15. Dust payments or very small digital currency payments are not recommended to be received on your hardware Ledger wallet. Always set the payment threshold to about 0.05 BTC to avoid computational issues and so that the chip does not get too hot.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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