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im-productreviews · 1 year

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Cryptocurrency - How Does it Work?

The concept of cryptocurrency was first introduced in the year 2008. The idea was to create an alternative currency which could be used as an alternative to the existing currencies and could also be used for other purposes. The first cryptocurrency that was introduced was the Bitcoin. It was created by a person named Satoshi Nakamoto and it was introduced in the year 2009. Since then, many other cryptocurrencies have been introduced. These are not just limited to Bitcoin. There are many others like Litecoin, Dogecoin, Ripple, Ethereum, Namecoin, etc.

What is Cryptocurrency?

The term cryptocurrency is derived from the words cryptography and currency. Cryptography is the study of how information can be encrypted so that only the intended recipient can read it. Currency is the exchange of goods or services. In other words, it is a way of exchanging value. Cryptocurrency is a digital currency which is based on cryptography. Digital currency means that it can be transferred from one person to another electronically without any physical presence of the money.

How does Cryptocurrency work?

In order to understand how cryptocurrency works, we need to look at the history of how it came into being. When the Internet was first developed, it was not designed to be used for commercial purposes. However, this changed with the introduction of PayPal. This allowed people to transfer funds from one account to another. PayPal is now a multi-billion dollar company. This opened up the world of online payments. Many other companies followed suit and started offering similar services. One such company was the Amazon.com. They offered an online payment service called Paypal. This allowed people to buy things on Amazon.com without having to go to the store and pay with cash. This was a huge advantage. It made it easier for people to shop online and saved them a lot of time. This opened up a whole new world of commerce.

The same thing happened when the credit card was invented. This was another great innovation. It allowed people to purchase items online without having to carry around cash. Nowadays, almost every single transaction is done online. This has revolutionized the way we live our lives.

Now, imagine if you could do all these transactions without using paper money or cash. This would save a lot of time and effort. It would allow people to save money by buying items online and also use their savings for other things. This would make it easy to manage your finances. This is exactly what cryptocurrency does.

Bitcoin is the most popular cryptocurrency. This is because it was the first one to be introduced. It was the first cryptocurrency that gained widespread acceptance. It is also the most widely traded currency. The price of Bitcoin fluctuates quite a bit. At times, it goes down to $1000. Other times, it goes up to $3000. There is no set limit to the amount of Bitcoins that can be bought. This makes it very attractive to people who want to invest.

So, how does Bitcoin work?

Bitcoin works on the basis of cryptography. This means that the currency is encrypted. You cannot actually see the numbers or the letters. All you see is a string of numbers and letters. If you want to know the value of the number, you need to use a special piece of software called the bitcoin wallet. Once you have this, you can start trading bitcoins. This is a very secure way of transferring money. There are no middlemen involved. The person who sends the money never sees the money. He or she only sees the address of the receiver. This means that the sender never needs to reveal his or her identity. This is a big plus since there are people who would like to avoid revealing their identity due to some personal reason.

It is important to note that the value of Bitcoin is determined by supply and demand. This means that the more people who want to buy Bitcoins, the higher the price will be. This is the reason why it is difficult to predict the future price of Bitcoin. As soon as a large number of people start using it, the price of Bitcoin will increase. This is the main reason why Bitcoin is so volatile. There are many people who think that Bitcoin is a scam. They say that it is too good to be true. This is not true. Bitcoin is a legitimate form of money. It is a great investment. It is the future of money.

https://popscrypto.com/index.php/2023/01/04/cryptocurrency-how-does-it-work/

#bitcoin #dogecoin #ethereum #litecoin #namecoin #ripple #cryptocurrency

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blast-spam-attaques · 4 months

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Qu'est-ce qu'un jeton cryptographique et comment fonctionne-t-il ?

Qu'est-ce qu'un jeton de crypto-monnaie ?

Un jeton de cryptomonnaie est une représentation d'un actif ou d'un intérêt qui a été symbolisé sur la blockchain d'une crypto-monnaie existante. Les crypto-jetons et les cryptomonnaies présentent de nombreuses similitudes, mais les cryptomonnaies sont destinées à être utilisées comme moyen d'échange, comme moyen de paiement et comme mesure et réserve de valeur.

Les jetons cryptographiques sont souvent utilisés pour lever des fonds pour des projets et sont généralement créés, distribués, vendus et mis en circulation par le biais d'un processus d'offre initiale de pièces de monnaie (ICO), qui implique un cycle de crowdfunding.

Principaux enseignements

Les crypto-jetons sont une représentation numérique d'un actif ou d'un intérêt dans quelque chose et sont construits sur une blockchain. Les crypto-jetons peuvent également être utilisés comme investissements, pour stocker de la valeur ou pour effectuer des achats.

Les cryptomonnaies sont des représentations numériques de la valeur conçues pour faciliter les transactions (effectuer et recevoir des paiements) à l'aide de la technologie blockchain. Souvent achetés dans le cadre d'une offre initiale de pièces de monnaie, les jetons de crypto-monnaie sont généralement utilisés pour lever des fonds afin de développer des projets.

Histoire des crypto-jetons

Bien qu'il y ait eu des cryptomonnaies dérivées du Bitcoin et de l'Ethereum avant le boom des ICO en 2017, la première ICO et le premier jeton reconnus ont été Mastercoin. Mastercoin a été créé par J.R. Willet et annoncé en janvier 2012 via le forum Bitcoin. Il a intitulé son livre blanc "The Second Bitcoin Whitepaper ".

Mastercoin a été l'un des premiers projets à décrire l'utilisation de couches pour améliorer les fonctionnalités d'une crypto-monnaie. Le projet liait la valeur du Mastercoin à celle du Bitcoin et expliquait comment le projet utiliserait les fonds pour payer les développeurs afin de créer un moyen pour les utilisateurs de créer de nouvelles pièces à partir de leurs Mastercoins.

Le boom des ICO

Entre 2012 et 2016, la création de jetons cryptographiques et les ICO ont augmenté jusqu'en 2017 - les offres de jetons sont montées en flèche car les investisseurs semblaient prendre conscience de leur existence et de l'augmentation possible de la valeur qu'elles promettaient.

Les développeurs, les entreprises et les escrocs ont commencé à créer rapidement des jetons pour tenter de profiter du boom de la collecte de fonds, à tel point que les organismes de réglementation ont commencé à émettre des alertes aux investisseurs pour les mettre en garde contre les risques des ICO23.

Les jetons cryptographiques et les ICO ne sont pas tous des escroqueries. Beaucoup sont des efforts légitimes pour lever des fonds pour des projets ou des startups.

Après la bulle

La bulle des ICO a éclaté en 2018 - peu de temps après, les offres d'échange initiales (IEO) sont apparues, où les bourses ont commencé à faciliter les offres de jetons. Les bourses prétendaient avoir contrôlé les offres de jetons, réduisant ainsi les risques pour les investisseurs ; cependant, les escrocs utilisaient les bourses pour promouvoir leurs escroqueries.

Les agences de régulation ont alerté les investisseurs sur les risques liés à la participation à un IEO ; elles ont également informé les bourses qu'elles étaient tenues de s'enregistrer auprès des autorités si elles facilitaient ces efforts de collecte de fonds.

Elles ont également averti les bourses qu'elles étaient tenues de s'enregistrer auprès des autorités si elles facilitaient ces levées de fonds. La logique était que les bourses pouvaient agir comme des systèmes de négociation alternatifs ou des courtiers/négociants, qui sont légalement tenus de s'enregistrer.

Des jetons cryptographiques sont encore créés et utilisés pour lever des fonds pour des projets par le biais d'ICO. Les livres blancs se lisent comme des pitchbooks, décrivant l'objectif du jeton, comment il sera vendu, comment les fonds seront utilisés et comment les investisseurs en bénéficieront.

Inquiétudes concernant les jetons de crypto-monnaie

La préoccupation la plus importante concernant les jetons cryptographiques est que, parce qu'ils sont utilisés pour lever des fonds, ils peuvent être et ont été utilisés par des escrocs pour voler de l'argent aux investisseurs. Toutefois, il peut être difficile de distinguer un jeton frauduleux d'un jeton représentant une véritable entreprise.

Voici quelques facteurs à prendre en compte lors de l'examen d'un jeton cryptographique : Selon la juridiction, il peut être nécessaire de l'enregistrer. La SEC utilise le test Howey pour déterminer si un actif est une valeur mobilière. S'il doit être enregistré et qu'il ne l'est pas, il est illégal dans sa forme actuelle.

Examinez l'équipe à l'origine de l'ICO et ses antécédents. Déterminez s'il s'agit d'une entreprise légitime en vérifiant l'adresse et les numéros de téléphone, et visitez le site web du secrétaire d'État de l'État dans lequel ils prétendent être enregistrés et recherchez-les.

Si vous ne trouvez pas d'informations à son sujet en dehors d'un livre blanc et d'un site web personnalisé, il peut s'agir d'une escroquerie.

Il peut être difficile d'effectuer des recherches sur les ICOs situées en dehors des États-Unis. L'un de ces jetons, le BananaCoin, a été émis pour collecter des fonds en faveur des plantations de bananes au Laos. Les investisseurs ont été informés qu'ils pourraient échanger leurs jetons contre une valeur égale de bananes ou de fonds après le lancement.

De nombreux jetons cryptographiques sont cotés sur des bourses non réglementées en dehors des États-Unis. S'ils ne sont pas cotés sur une bourse réglementée, la probabilité qu'il s'agisse d'une escroquerie est beaucoup plus élevée. Même les jetons cryptographiques cotés sur une bourse enregistrée peuvent être des escroqueries.

Fonctionnement des jetons Crypto

Crypto fait référence aux divers algorithmes de cryptage et techniques cryptographiques qui protègent ces entrées, tels que le cryptage à courbe elliptique, les paires de clés publiques-privées et les fonctions de hachage. Les cryptomonnaies, quant à elles, sont des systèmes qui permettent d'effectuer des paiements en ligne sécurisés.

Les jetons de crypto-monnaie servent souvent d'unités transactionnelles sur les blockchains qui sont créées à l'aide de modèles standard, comme celui du réseau Ethereum, qui permet à un utilisateur de créer des jetons.

Ces blockchains fonctionnent sur le concept de contrats intelligents ou d'applications décentralisées, dans lesquelles le code programmable et auto-exécutoire est utilisé pour traiter et gérer les différentes transactions qui se produisent.

Un contrat intelligent est un programme auto-exécutable qui automatise les transactions. Contrairement à la croyance populaire, les termes du contrat ne sont pas inscrits dans les lignes de code. Les conditions sont convenues par les parties concernées et le code est écrit pour les exécuter.

Par exemple, vous pouvez recevoir un jeton cryptographique représentant un certain nombre de points de fidélité sur une blockchain qui gère ces détails pour une chaîne de magasins. Un autre jeton cryptographique peut donner à son détenteur le droit de visionner 10 heures de contenu en continu sur une blockchain de partage de vidéos.

Un jeton peut même représenter d'autres cryptomonnaies, par exemple un jeton cryptographique équivalant à 15 bitcoins sur une blockchain particulière. Ces jetons sont négociables et transférables entre les différents participants de la blockchain

Les investisseurs peuvent utiliser les jetons cryptographiques pour un certain nombre de raisons. Ils peuvent les conserver pour représenter une participation dans la société de crypto-monnaie ou pour des raisons économiques - pour échanger ou acheter des biens et des services.

À titre d'exemple pratique, le fournisseur de stockage décentralisé Bluzelle vous permet de mettre en jeu vos jetons pour aider à sécuriser son réseau tout en gagnant des frais de transaction et des récompenses.89

L'Autorité de régulation de l'industrie financière (FINRA) continue d'émettre des alertes sur les fraudes liées aux ICO ; veillez donc à vous renseigner avant d'investir dans une crypto-monnaie, comme vous le feriez pour n'importe quelle action.10

Jetons de crypto-monnaie et cryptomonnaies

Le terme "jeton de crypto-monnaie" est souvent utilisé à tort comme synonyme de "crypto-monnaie". Or, ces termes sont distincts l'un de l'autre.

Une crypto-monnaie est utilisée pour effectuer ou recevoir des paiements à l'aide d'une blockchain, la crypto-monnaie la plus populaire étant le bitcoin (BTCUSD). Les altcoins sont des cryptomonnaies alternatives qui ont été lancées après le succès massif du bitcoin. Le terme signifie "pièces alternatives", c'est-à-dire des cryptomonnaies autres que le bitcoin.

Elles ont été lancées en tant que substituts améliorés du bitcoin qui prétendent surmonter certains des points faibles du bitcoin. Litecoin (LTCUSD), Bitcoin Cash (BCHUSD), Namecoin et Dogecoin (DOGEUSD) sont des exemples typiques d'altcoins. Bien que chacun d'entre eux ait connu un succès variable, aucun n'a réussi à acquérir une popularité comparable à celle du bitcoin.

Les jetons cryptographiques fonctionnent sur une blockchain, qui sert de support à la création et à l'exécution d'applications décentralisées et de contrats intelligents. Les jetons sont utilisés pour faciliter les transactions sur la blockchain. Dans de nombreux cas, les jetons font l'objet d'une ICO, puis passent à cette étape une fois l'ICO terminée.

Quel est l'objectif des jetons ?

Les jetons cryptographiques facilitent généralement les transactions sur une blockchain, mais ils peuvent représenter la participation d'un investisseur dans une entreprise ou avoir une finalité économique, tout comme la monnaie légale.

Cela signifie que les détenteurs de jetons peuvent les utiliser pour effectuer des achats ou des transactions, tout comme d'autres titres, afin de réaliser des bénéfices.

Le bitcoin est-il un jeton ou une pièce de monnaie ?

Le bitcoin est une crypto-monnaie, généralement utilisée pour effectuer des transactions, des achats ou stocker de la valeur.

Quelle est la différence entre une crypto-monnaie et un crypto-jeton ?

Les cryptomonnaies sont conçues pour être utilisées comme monnaie, tandis que les crypto-tokens sont destinés à représenter un intérêt dans un actif et à faciliter les transactions sur une blockchain.

Quels sont les différents types de jetons qui résident sur les blockchains ?

Les jetons de la blockchain comprennent des jetons de récompense, d'utilité, de sécurité, de gouvernance et d'actifs.

En bref

Les jetons cryptographiques sont des représentations numériques d'un intérêt dans un actif ou sont utilisés pour faciliter les transactions sur une blockchain. Ils sont souvent confondus avec les cryptomonnaies car ils sont également négociables et échangeables.

Les jetons de crypto-monnaie sont souvent utilisés pour lever des fonds pour des projets dans le cadre d'offres initiales de pièces de monnaie.

De nombreuses parties ont abusé des ICO pour tromper les investisseurs et les inciter à verser des fonds, avant de disparaître, mais beaucoup d'entre elles sont des tentatives de collecte de fonds valables menées par des entreprises légitimes.

Si vous envisagez d'investir dans des jetons de cryptomonnaie, assurez-vous de faire des recherches sur l'équipe ou l'entreprise qui les propose. Investir dans les cryptomonnaies et autres Initial Coin Offerings ("ICOs") est très risqué et spéculatif, et cet article n'est pas une recommandation d'Investopedia ou de l'auteur d'investir dans les cryptomonnaies ou autres ICOs.

La situation de chaque individu étant unique, il convient de toujours consulter un professionnel qualifié avant de prendre une quelconque décision financière. Investopedia n'offre aucune garantie quant à l'exactitude ou à l'actualité des informations contenues dans le présent article.

À la date de rédaction de cet article, l'auteur ne possède pas de crypto-monnaie. Un jeton de crypto-monnaie est une représentation d'un actif ou d'un intérêt qui a été transformé en jeton sur la blockchain d'une crypto-monnaie existante.

Les crypto-jetons et les cryptomonnaies présentent de nombreuses similitudes, mais les cryptomonnaies sont destinées à être utilisées comme moyen d'échange, comme moyen de paiement et comme mesure et réserve de valeur.

Points clés à retenir

Histoire des crypto-jetons

Le boom des ICO

Les jetons cryptographiques et les ICO ne sont pas tous des escroqueries. Beaucoup sont des efforts légitimes pour lever des fonds pour des projets ou des startups.

Après la bulle

Inquiétudes concernant les jetons de crypto-monnaie

Voici quelques facteurs à prendre en compte lors de l'examen d'un jeton cryptographique :

Selon la juridiction, il peut être nécessaire de l'enregistrer. La SEC utilise le test Howey pour déterminer si un actif est une valeur mobilière. S'il doit être enregistré et qu'il ne l'est pas, il est illégal dans sa forme actuelle.

Si vous ne trouvez pas d'informations à son sujet en dehors d'un livre blanc et d'un site web personnalisé, il peut s'agir d'une escroquerie. Voir aussi « Qu’est-ce qu’un token ? »

#namecoins #token #ICO

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etherizationthegame · 3 months

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Unveiling The Past: Exploring Historic NFTs In The Digital Age

We are living in the era of Digital Currencies and Non-Fungible Tokens (NFTs). Today every possible document and artwork is available in the form of NFTs as a safe mode. These NFTs can be managed for centuries from now, and our future generations can take references from them. But the major question arises that when it all started, and which were the first Historical NFTs available to the human race online? Though it is not so easy to come to any conclusion, many NFT researchers and professionals have given their theories on it. In this informative, we will discuss those historic NFTs recorded in the past. Keep reading for more details on the topic.

Historical NFTs

These are some of the historical NFTs that are researched and found by NFT researchers;

Quantum (May 02, 2014)

Quantum was the first ever NFT minted in history during the introductory level of the Blockchain system. It was minted by Jennifer and Kevin McCoy, who were digital artists. Though, the NFT was not in trade for years until it was sold in June 2021 for 1 Million Dollars.

Eggs (July 27, 2014)

Bitcoin had a project named Namecoin in 2011. It was quite famous among people. In 2014 people decided to use profile images with their names as it could be done. And in the same year, Eggs were introduced as NFTs in the market. It was also known as PFPs and Twitter Eggs.

Spells Of Genesis (March 11, 2015)

Spells of Genesis is a gaming asset NFT of Blockchain. It was launched in 2015 and was the first-ever trading card game on the Blockchain platform. EverdreamSoft launched FDCARD in the market as one of the very first NFTs.

Linagee Name Registrar (August 08, 2015)

Mason Keresty, who is an NFT archeologist, found Linagee Name Registrar in Oct 2022 as the oldest NFT recorded on the digital ledgers so far. Though it is not the oldest one as per the records, his genuine efforts were appreciated. It is also known as Ethereum Name Services (ENS) as it was launched just after the public launch of Ethereum cryptocurrency.

SaruTobi (May 06, 2016)

It can be considered one of the oldest NFT games registered online in history. SaruTobi was launched by a youngster Christian Moss who was an iOS developer. He launched it on the Apple App Store on Dec 19, 2014. He allowed players to collect a small amount of bitcoins as rewards in the game.

Rare Pepes (September 09, 2016)

These are the first ever collectible cards made available on the Blockchain platform by Satoshi Nakamoto which invented bitcoins. This card is also known as the Nakamoto card out of 1800 different cards available online.

PixelMap (November 16, 2016)

PixelMap was launched on the Ethereum Blockchain platform by Ken Erwin in Nov 2016. It is a decentralized artwork that can be purchased by anyone, and they can change the image used on the tile. It makes the artwork incomplete forever and leaves a chance for modifications.

Crypto Punks (June 23, 2017)

Crypto Punks are avatars available in 8 bits in the form of NFTs. These avatars are available as artwork and collectibles launched by two software developers named Matt Hall & John Watkinson. These are the most famous artworks available in the digital world in history.

Conclusion

Non-Fungible Tokens have been successful in history, and these tokens will be the future to channelize the digital world and to do safe and swift online trading. Blockchain games like Etherization provide players with true ownership of their in-game assets. NFTs are the most protected and secure ways to keep your art alive for ages while keeping it accessible for all. Although, many individuals are still unaware of such artworks and mechanisms that can help you earn a far better return on investment. The list of first-ever NFTs is not limited to the above-mentioned NFTs as many of them are not revealed yet. We may get to know them in the future. If you haven't checked them out yet, try them for yourself.

For more details visit etherization.org

#Historic NFTs #nfts #blog

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cryptogids · 4 months

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CrypteauTrust Legt Uit: Project Fundamentals

Door Roy van CrypteauTrust Even terug in de tijd. Het is 2012, je wilt crypto kopen en hebt keuze uit een aantal opties: - Bitcoin; - Litecoin; - Namecoin; - Peercoin; - Novacoin; Fast forward naar 2023. Inmiddels zijn er honderdduizend munten die je kan aanschaffen en ieder project presenteert zich als dé nieuwe cryptomunt van dit moment. Het is om die reden ook niet gek dat investeerders steeds meer moeite hebben met het analyseren van de projecten. Losstaand van het feit dat het er steeds meer worden, lijken ze vaak ook in bepaalde componenten op elkaar en is het voor jou als investeerder van belang om precies dat ene unieke component eruit te vissen om te beoordelen wat project A nou anders maakt dan project B. Een project? Of een bedrijf? Toen ik ooit begon in de crypto space was ik altijd in de veronderstelling dat je altijd moest kijken naar een project dat het mooiste idee had. Maar, je kan zoveel mooie ideeën op papier zetten. Als de randvoorwaarden van je project niet goed zijn ingericht blijft het vaak puur bij een idee op papier. Het verrichten van fundamentele analyse is daarom een cruciale stap voordat je daadwerkelijk besluit om te investeren in een project. Niet alleen beperk je hiermee je risico doordat je concreet weet welke kwaliteiten en valkuilen een project heeft, maar zorg je er al met al ook voor dat je weet waar je in investeert, ook niet geheel onbelangrijk. Ik kom het helaas nog vaak zat tegen dat mensen simpelweg niet weten waar ze in investeren. In dat geval kan je net zo goed naar het Hollands Casino lopen, en bij de roulettafel je investering of rood of zwart zetten. Dat komt in principe op hetzelfde neer. Waar begin je? Kijk, don’t get me wrong. Ik kan me heel goed voorstellen dat het enorm overweldigend is wanneer je begint met een fundamentele analyse, maar laten we het stap voor stap opbouwen. Stel je investeert ergens (als in een persoon of een bedrijf) je geld in. Wat zou je dan graag als eerste willen weten? Waarschijnlijk in wie je dit geld investeert? Precies. Dus, het team is één van de eerste zaken die je graag inzichtelijk wilt hebben. Met andere woorden, is het team traceerbaar? Zo ja, wat is de trackrecord van dit team? Hebben ze ervaring in de Web3.0 space of zijn ze part-time marketing medewerkers bij een lokaalbedrijf (no offense naar marketingmedewerkers). Stel dat het team niet traceerbaar is, dan zou dit eigenlijk al een ‘’red flag’’ moeten triggeren. Want ja, kan je het dan wel vertrouwen? Ten tweede, wat is het doel van het project? Hebben zij een heldere whitepaper gepubliceerd waarin beschreven staat wat concreet het doel is van het project en hoe ze dit gaan realiseren. Hierbij is het ook belangrijk dat jij jezelf de vraag stelt “Is dit realistisch?”. Dat kan in het begin lastig zijn en daarom is mijn tip om voor jezelf een lijst met vragen op te stellen wanneer je een fundamentele analyse gaat maken. En! Ga oefenen. Je gaat merken dat hoe vaker je dit doet, hoe efficiënter je leert herkennen wat unieke onderdelen zijn van bepaalde projecten, en wanneer je zogezegd weer spreekt van ‘’de zoveelste crypto Layer 1’’. Houd het bedrijf in je achterhoofd Zoals gezegd, net zoals bij een bedrijf, zijn er bepaalde zaken die van belang zijn om te weten te komen voordat je besluit om te investeren. Neem dus voor jezelf fictief een bedrijf in je achterhoofd en probeer zoveel vragen te formuleren. Wat je zal merken is dat 99% van deze vragen ook gesteld kunnen worden om een project in crypto te beoordelen, denk aan: - Hoeveel procent van de aandelen zijn van Eigenaar A, B en C? - Heeft het bedrijf financiële ‘backers’ die kunnen zorgen voor (extra) financiële middelen? - Hoe wordt er cashflow gecreëerd binnen het bedrijf? Wat is hun primaire business? Deze vragen kan je nagenoeg ook stellen bij een cryptoproject? - Hoeveel procent van de munten zijn gealloceerd aan het Team (lees, de eigenaren)? - Beschikt het project over financiële backers die ontwikkeling en groei kunnen financiëren? - Hoe verdient het project haar geld? Wat is de primaire business van het project? Vele handen maken licht werk Onderdeel van de CrypteauTrust Premium community is dat wij aan de hand van ons opgestelde framework (lees, vragenlijst) en de daarbij horende bronnen die wij raadplegen inzichten delen met onze leden over potentiële nieuwe, interessante en veelbelovende projecten.Daarnaast delen andere leden ook vaak fundamentele analyses en kan het ook wel eens voorkomen dat een project er na een analyse minder rooskleurig uitziet dan op het eerste oog. Is dat erg? Nee, zeker niet. Dat is dus pre-cies de reden waarom fundamentele analyse zo belangrijk is vóórdat je besluit ergens in te investeren. Read the full article

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claudiaschiffersblog · 4 months

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Експерт передбачив зростання капіталізації альткоїнів

Засновник інвестиційної компанії Eight Мікаель ван де Поппе опублікував нове повідомлення у Твіттері. Він проаналізував ринок альткоїнів. Фахівець заявив, що їхня загальна ринкова капіталізація "нарешті виходить за межі діапазону в 500 з гаком днів". Він опублікував відповідний графік, на якому виділив відповідні зони підтримки та опору, згідно з даними технічного аналізу. На думку ван де Поппе, "було проведено повторне тестування, яке виявило достатню підтримку". Аналітик упевнений - це означає, що в 1-му кварталі 2024 року ринкова капіталізація альткоїнів зросте щонайменше у 2 рази. Altcoins - це термін, який використовується для позначення всіх криптовалют, крім біткоїна (BTC). Назва походить від англійського словосполучення alternative coins або "альтернативні монети". Першим і найбільш відомим із них став Namecoin, який було запущено у квітні 2011 року. З плином часу з'явилося безліч альтернативних криптовалют з різними цілями та особливостями. Найвідоміші з них - Ethereum, Ripple, Litecoin, Solana, Cardano, Polkadot та інші. Альткоїни мають широкий спектр використання, включно зі створенням смарт-контрактів, децентралізованими додатками, миттєвими та дешевими транзакціями, розширеними функціями конфіденційності та іншим. Вони продовжують розвиватися і привертати увагу як інвесторів, так і розробників блокчейн-технологій. Мікаель ван де Поппе - відомий аналітик і трейдер у галузі криптовалют. Він набув широкої популярності завдяки своїй експертній думці та аналізу ринку. Фахівець почав свою кар'єру у фінансовій сфері та почав торгувати криптовалютами в молодому віці. Наразі він став відомим блогером і ютубером, який ділиться своїми знаннями та досвідом у сфері цифрових активів. Експерт вирізняється аналітичним підходом, докладними оглядами, аналізом цінових графіків і передбаченнями майбутніх тенденцій. Read the full article

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ailtrahq · 7 months

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Shinobi’s Strawman is a weekly series where our Technical Editor Shinobi challenges the Bitcoin community, aiming to stir up conversation around heated technical debates.______________________________________________________________We are going to try something of an experiment today. Drivechains are being proclaimed by some as the savior of Bitcoin, the answer to all of its problems. It solves the long term security budget, allows complete freedom to incorporate new features into Bitcoin, and presents no downsides for existing Bitcoin users. Sounds too good to be true? It is:1) Drivechains Change Miner Incentives Drivechains introduce a hodgepodge of new variables into miners’ incentives, and after introducing that instability advocates push for users simply adopting a degraded security model for all new use cases and functionality by using a sidechain in lieu of changing the base layer. How is this any different than an outright attack on Bitcoin self custody?2) Existing Sidechains Have No Adoption There have been many different design proposals for sidechains over the years, but the only currently deployed ones are run by federations (Liquid and RSK), both of which have failed to gain any meaningful level of adoption since they were deployed. Does this mean sidechains are not worth continued development effort? Or are they worth it, and the failure of federated chains to be adopted is simply the result of shortcomings in that specific sidechain design? 3) Drivechains Exacerbate The Risks Of MEV MEV is something that is possible on Bitcoin already, as systems like Stacks are demonstrating, but currently the forms of MEV possible on Bitcoin are either generated by totally independent altcoins like Stacks (which historically have trended to an insignificant percentage of miners’ income, like Namecoin), or very low in the level of complexity (like frontrunning Inscriptions). Drivechains open the door to arbitrarily complex forms of MEV on sidechains, while also ensuring that the token generating that MEV is pegged to the price of Bitcoin. I.e. it cannot simply fade away to an irrelevant fraction of miner income as people stop buying an altcoin. This drastically worsens the risks and potential damage of MEV on Bitcoin.4) No, Swap Markets Aren’t An Answer Paul Sztorc replied to some of these concerns on Twitter, but these responses do not really address the root issues. Swap markets might sound like an answer, but the reality is that these just shove the liquidity requirements onto yet another party, assuming they will provide massive amounts of liquidity for almost nothing in return. That might work for small scale utility users, or having liquidity available to arbitrage uncertainty around the peg, I don’t think it's a foregone conclusion that enough liquidity to cover the “solution to the security budget problem” without slippage is a given, to say nothing of all the other users who would want to swap in and out. He then goes on to ignore the difference between a mainchain reorg, which requires redoing work and energy expenditure, versus a sidechain reorg which does not. Finally, he equates a random person for no logical or profit driven reason giving money away with someone generating a profit with an activity they are the sole gatekeepers of.Look, ultimately, I’m a Bitcoin maximalist. I want what’s best for Bitcoin. I think drivechains are stupid, dangerous and a waste of time, but I want to hear your thoughts on the subject. Am I wrong about the points above? Is there another reason that I should be against drivechains that I’ve overlooked? Please do not write to me with some random hopium. I’m open to novel opinions. I want the conversation to progress. Above is my best summation – we simply aren’t anywhere close to a meaningful consensus on drivechains.My DMs are open. [email protected]. Let’s hash it out. Source

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tipco613 · 9 months

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New Post has been published on http://cryptonewsuniverse.com/new-use-cases-for-bitcoin-ordinal-theory-disturbs-bitcoin-purists-competition-for-ethereum/

New Use Cases For Bitcoin Ordinal Theory Disturbs Bitcoin Purists Competition For Ethereum?

New Use Cases For Bitcoin. Ordinal Theory Disturbs Bitcoin Purists. Competition For Ethereum?

Bitcoin is evolving with the introduction of inscriptions, which has caused an explosion in innovation, creating new use cases for Bitcoin that many thought it would never advocate. Some believe these use cases are inappropriate for Bitcoin's primary mission of decentralizing money and being a store of value. These use cases include BRC-20 tokens, and Ordinal Inscriptions likened to an NFT called Digital Artifacts, and many are wondering whether they will compete with NFTs and ERC-20 tokens on Ethereum.

This article illustrates what Inscriptions, Ordinals, and BRC-20 tokens are, how they work, and evaluates what impact the Ordinal theory could have on BTC. Also, how will these protocols impact Ethereum? Could ETH lose NFT market dominance as a result?

When Did It All Start

The history of Bitcoin's recent innovations begins with the Taproot upgrade, which went live in November 2021. Essentially, Taproot removed limits on how much data each BTC transaction can use, allowing a single transaction to fill an entire Bitcoin block. This opened the door to attaching additional data to BTC transactions, including individual Satoshis. (Sats). For context, each BTC comprises 100 million Sats, like cents to a dollar.

Image Source: Cointelegraph

As the name suggests, inscriptions make it possible to attach data to individual Sats, including audio, video, and text. Bitcoin Ordinal inscriptions can be fungible or non-fungible, depending on who owns the Ordinal and whether they wish to preserve the individual Satoshi.

The concept of adding data to individual Sats isn't necessarily new. In fact, Bitcoin creator Satoshi Nakamoto and early Bitcoin developer Gavin Andresen discussed creating a domain name system on Bitcoin in 2010. This eventually led to the creation of Namecoin, one of the first Bitcoin forks. In 2012, the CEO of eToro proposed the concept of colored coins, which involves attaching data to BTC transactions to tokenize real-world assets effectively.

The main reason why these concepts failed to reach mass adoption was because of data limits on BTC transactions, which Taproot has since removed. Another reason why these inscriptions failed to reach mass adoption was because it was challenging to create or keep track of them. This is what the Ordinals protocol does. It allows anyone to inscribe individual Sats with additional data and keep track of where they are.

Ordinal Protocol and Inscriptions

As stated on the Ordinal website, a Sat inscription is an NFT; however, "digital artifact" is used instead because it's simple and familiar to artists, collectors, and traders. The phrase "digital artifact" is highly suggestive, even to someone who has never heard the term before. In comparison, NFT is an acronym that feels like financial terminology and doesn't indicate what it means if you haven't heard it before.

Bitcoin developer Casey Rodarmor created the Ordinal protocol in late January 2023. In an interview, Casey explained that he'd been considering making the protocol since he saw generative art NFTs on Ethereum in early 2022. Casey wanted to bring similar kinds of NFTs to Bitcoin. However, Casey stepped down as the lead developer of Ordinals in late May and announced a pseudonymous developer named Raph Japh would be taking his place as he couldn't give the protocol the attention it deserves.

Interestingly, Ordinals only need two things to run the protocol: a full Bitcoin node and a Bitcoin wallet that can read and write Ordinal inscriptions. Casey explained in an interview that the Ordinal protocol was designed to require no extra infrastructure; it exists entirely on Bitcoin. Even more interesting about Ordinals is that the inscriptions apparently can't be searched using a browser, at least for now.

Casey explained that this is because of “instability.” This means that you must search for inscriptions manually on Ordinals.com, which isn't easy because there are many. For reference, there were more than 10 million inscriptions when Casey stepped down from the protocol in late May. It’s not surprising considering that multiple NFT marketplaces had started supporting Ordinals inscriptions, and a new type of inscription was also invented, the BRC-20 token.

Image source: X [Twitter] Ordinals Wallet

What Is A BRC-20 Token?

The BRC-20 token experiment was introduced by a pseudonymous on-chain analyst named Domo in early March 2023; that enables users to create fungible tokens natively on Bitcoin. However, before launching BRC-20, Domo stressed that the token is “simply a fun experiment.”

The BRC-20 token standard is similar to the ERC-20 token standard commonly used on the Ethereum blockchain. However, unlike the popular token standards on Ethereum, BRC-20 tokens do not use smart contracts. Instead, users store a script file on Bitcoin and use that to attribute tokens to individual satoshis. BRC-20s embed JSON data into ordinal inscriptions to enable users to deploy, mint, and transfer tokens. BRC-20s are considered “semi-fungible” since users can only exchange BRC-20 tokens in set increments. BRC-20 tokens have limited functionality compared to their ERC-20 counterparts on Ethereum. Unlike ERC-20s, which can be used as collateral in various dApps, BRC-20s are restricted to minting and moving fungible tokens on the Bitcoin blockchain. This is why there were over 10 million Ordinals but only around 40,000 BRC-20 tokens. Each Sat inscribed with an Ordinal Digital Artifact only contains one image, video, or text, whereas each Sat inscribed with a BRC-20 can have millions of units of a single token.

BRC-20 Memecoin Craze Causes Fees To Skyrocket

Naturally, BRC-20 tokens caused the number of inscriptions to surge, and the subsequent BRC-20 memecoin craze caused transaction fees on Bitcoin to spike. By May, the market cap of BRC-20 tokens had passed $1 billion, with crypto wallets adding support and exchanges listing the biggest ones. The most popular crypto wallet for BRC-20s and Ordinal Digital Artifacts is the UniSat browser extension. The browser wallet has been downloaded over 300,000 times so far. To put things into perspective, the wallet only had 100K downloads in mid-May – a 3X increase in a month.

Screenshot: Chrome Web Store

Meanwhile, the number of non-zero Bitcoin addresses, i.e., the number of Bitcoin wallets holding more than 0 BTC, has gone parabolic over the same period. Bitcoin miners have also been raking it in from the transaction fees. The fees actually surpassed the block rewards for the first time since 2017. At the same time, innovation around both Ordinals NFTs and BRC-20s had increased.

More Innovations Ensued

One of the most famous innovations happened in February 2023, when a crafty hacker found a way to upload a cloned version of the 30-year-old video game classic DOOM to the Bitcoin blockchain as an inscription on the network’s Ordinal protocol. You can literally play a simplified version of Doom on Bitcoin.

More recently, another pseudonymous Ordinal developer named Leonidas introduced recursive inscriptions, making it possible for inscriptions to interact. This, in turn, makes it possible to upload playable video games larger than one Bitcoin block and unlocks other new use cases.

In May 2023, Milady’s NFT enthusiasts launched a new Ordinals NFT standard with the help of an Ordinal Digital Artifact marketplace that makes it possible to bridge NFTs from Ethereum to Bitcoin. The catch is that the conversion is currently a one-way trip, but it foreshadows more interoperability for Ordinal Digital Artifacts and BRC-20s.

On that note, the first BRC-20 stablecoin was launched in late May. The caveat is that the issuer of this stablecoin appears to be somewhat sketchy. Even so, it foreshadows the launch of more reputable stablecoins directly on the Bitcoin blockchain, likely resulting in even more Bitcoin adoption.

Image source: BRC-20.io

Bitcoin Maxis Pushing Back

Not everyone is applauding Bitcoin's recent innovation, however. Many have argued that Ordinals are useless. This argument has some merit, considering that some of the earliest Ordinal inscriptions contained unsavory types of content that have since been hidden. Still, as it’s been inscribed into the blockchain, the image itself is immutable.

Some have also argued that BRC-20 tokens are harmful. This is also understandable, considering that they caused transaction fees on the Bitcoin blockchain to spike. It’s made it more expensive for people in developing countries to send BTC transactions, all because some degens wanted to trade memecoins.

Others have argued that Bitcoin shouldn't be used for anything other than regular peer-to-peer BTC transactions. This is reasonable, considering the Bitcoin white paper says peer-to-peer electronic cash. Never mind that the more complexity you add, the more vulnerabilities you create.

Crypto analyst Eric Wall explained in an interview that the way the ordinals protocol was coded is akin to an exploit. Crypto VC partner Nick Carter also pointed out in an interview that this unforeseen use of the Taproot upgrade could make the Bitcoin community more hesitant to approve future upgrades. Nick believes that Bitcoin won't be seeing another upgrade for a long time because of the unforeseen risks it will create.

On the other hand, many, including Nick, have argued that the objectively useless Ordinal Digital Artifacts will be priced out due to the increased transaction fees. It makes sense because whoever pays the highest price has their transaction processed first. People won't continue to pay a high price to inscribe useless data.

Progressive Bitcoiners Counter

Some have argued that Layer 2s will solve the blockchain bloats supposedly caused by BRC-20s like the Lightning Network. This also makes sense because higher transaction fees on the base chain create an incentive to generate scaling solutions, an incentive lacking in Bitcoin.

Others have argued that the fees from peer-to-peer BTC transactions alone may not be enough to secure the Bitcoin blockchain as time passes, so additional use cases should be allowed. This makes sense because Bitcoin isn't just a crypto; it's the most secure network in the world, the ideal base layer. It's not just the progressive Bitcoiners saying this, either. Bitcoin OGs like Blockstream CEO Adam Back have acknowledged that Bitcoin can be used for whatever people want.

Many Ordinal supporters have also noted the technology’s contribution to the freedom of speech. One Bitcoin observer posted on X stating, “I know everyone hates Ordinals, but whether it’s text or images, the ability to publish uncensorable information on the Bitcoin time chain effectively makes speech uncensorable worldwide forever.”

What matters at the end of the day is the demand for block space and BTC, ideally from objectively valuable use cases. F2Pool CMO Li Qingfei underscored that Ordinals and BRC-20 tokens will eventually give rise to these objectively valuable use cases once all the hype is gone. The consensus is that both innovations are a net benefit and clear advantage to Bitcoin, but it's still too soon to say what's hype and what's here to stay.

Ethereum Gearing Up for Competition

Many people have pointed out that conversations around Ordinal Digital Artifacts and BRC-20 tokens sound eerily similar to those around the first NFT craze and the ICO boom on Ethereum in 2017. At the time, people were also arguing about Ethereum’s future in light of these disruptive innovations. Some of you will recall how pictures of cartoon cats once caused massive congestion, jamming up the Ethereum network.

You may also know that most crypto projects launched on Ethereum were utterly worthless. Notably, all will appreciate that many of the NFTs and ERC-20s that survived are valuable and useful. Chances are that we will see the same thing happen with Ordinal Digital Artifacts and BRC-20 tokens. This means that Bitcoin could become more akin to Ethereum; if it does, it will make BTC a more direct competitor to ETH, and it appears that ETH has already been gearing up for this direct competition.

To explain, BTC is considered to be digital gold. This is primarily because BTC's tokenomics make it an ideal hedge against currency debasement and, arguably, inflation – It is “Sound money.” Conversely, ETH is considered to be digital oil. This is primarily because ETH is the fuel that runs Ethereum, which hosts most dApps and tokens. The narrative around ETH started to change in mid-2021 with the EIP1559 upgrade.

EIP1559 burns a portion of all transaction fees on Ethereum to refresh your memory. With enough activity, this makes ETH deflationary. Hence, the new narrative of ETH is “Ultrasound money.” Obviously, the term is meant to imply that ETH is a superior store of value to BTC due to its deflationary nature.

Image source: X [Twitter]

Ethereum’s transition from Proof-of-Work to Proof-of-Stake also made ETH more appealing to institutional investors because they can stake it to earn a yield, and we know institutions love earning yield. Regarding the environmental aspects of Proof-of-Work versus Proof-of-Stake, you should know that ESG-obsessed institutional investors aren't really concerned about the E part. They're worried about the G, the Governance, i.e., the control. Bitcoin can't be controlled, and ESG investors don't like that.

What Makes BTC More Appealing

Given that ETH can be deflationary and earn a yield via staking, it begs the question of what makes BTC more appealing than ETH to investors, particularly institutional investors. Many people have been asking this question lately, especially as ETH continues to change and BTC stays relatively static. The answer to the question is “security.”

The Bitcoin blockchain is the most secure network in the world, mainly because it is static compared with all the others, which change constantly. It is the ideal base layer on which additional innovations can be built. The only thing missing was the incentives to create them. Ordinal Digital Artifacts and BRC-20s have introduced these incentives and prepared Bitcoin’s ecosystem to see the same explosive growth Ethereum did after NFTs and ERC-20s saw genuine adoption.

The difference is that Bitcoin’s ecosystem will be much more secure due to its base layer. This is significant because security is the only thing institutional investors love more than token burns and yield. They want to be sure that the tokens they mint on a cryptocurrency blockchain will stay there forever, and Bitcoin arguably provides more certainty than Ethereum here.

This is for many reasons, including that Proof-of-Work is more secure than Proof-of-Stake. The infrastructure used to interact with Ordinal Digital Artifacts and BRC-20 tokens exists on Bitcoin itself—the fact that Bitcoin doesn't change, and it's been around for much longer than Ethereum. Never mind that BTC is the only crypto the SEC has said is not a security.

Bitcoin Innovation Risks

As bullish as Ordinal Digital Artifacts, BRC-20 tokens, and other Bitcoin innovations will be for BTC, there will also be risks. This is one undeniable advantage that Ethereum has: it has moved fast, broken things, and fixed them. Bitcoin hasn't broken anything yet, but unlike Ethereum, it can't afford to.

Many argue that the most significant risks associated with Bitcoin innovation appear to be regulatory. Bitcoin evangelist Michael Saylor believes there could be regulatory risks, mainly for BRC-20 tokens. Like the ERC-20 tokens on Ethereum, Michael thinks that some BRC-20 tokens could be classified as securities by the SEC. It's ironic, considering that BTC itself is supposedly immune from scrutiny.

Definitively, the most considerable risk associated with innovation on Bitcoin is one that's been overlooked, and that's centralization. As transaction fees on the Bitcoin blockchain rise because of the innovation, more people, mainly those who don't have much money, will switch to using Layer 2 protocols.

The Lightning Network is Bitcoin’s Layer 2 solution for its renowned slow transaction speed. It consists of payment channels that contain large amounts of BTC. Individual payment channels between various parties combine to form a network of Lightning Network nodes that can route transactions among themselves. The interconnections between different payment channels result in the Lightning Network.

Unless you have enough BTC and technical know-how to open your own payment channel, you must use a payment channel that a third party of some kind operates. The harsh reality is that sending BTC transactions on the lightning network using a payment channel run by a third party is no different from using a bank to send fiat transactions.

That's because every BTC transaction is tracked, and you technically don't own your BTC, meaning it can be frozen or stolen. Because of this protocol’s current vulnerabilities, third parties must run on nodes to prevent fraud within the Lightning Network, called a watchtower, which monitors transactions.

Today's gas fees on Ethereum transactions are unaffordable for most people, forcing them to use Layer 2s, which are centralized and controlled by VC investors. It’s fair to say that's not what crypto is about and what anyone wants for Bitcoin, Ethereum, or other cryptocurrencies. All being well, Bitcoin will take a different approach to growing and scaling its ecosystem than other Layer 1s. All it takes is the right incentives.

Image source: Ordinals Marketplace

In Closing

The developers of the Ordinal theory have expressed that the most essential thing the Bitcoin network does is decentralize money. They acknowledge all other use cases are secondary, including Ordinals. However, they believe that Ordinal theory helps Bitcoin's primary mission, at least in a small way.

Suppose inscriptions prove to be highly sought-after digital artifacts with a rich history. In that case, they will serve as a powerful hook for Bitcoin adoption: Come for the fun, rich art, and stay for the decentralized digital money.

Ordinals and inscriptions increase demand for Bitcoin block space, which increases Bitcoin's security budget. This is vital for safeguarding Bitcoin's transition to a fee-dependent security model, as the block subsidy is halved into insignificance and ensures that Bitcoin remains secure.

Many hope that the Ordinal theory strengthens and enriches Bitcoin and gives it another dimension of appeal and functionality, enabling it to serve its primary use case more effectively as humanity's decentralized store of value.

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

#Blockchain #cryptocurrency #markethive

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dennisloos01 · 10 months

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Dennis Loos | Beyond Bitcoin_ An Exploration of Different Types of Cryptocurrency

Bitcoin, often called the 'digital gold', was the first cryptocurrency to capture the public imagination. In the wake of the 2008 financial crisis by an anonymous person (or group of people) known as Satoshi Nakamoto, Bitcoin introduced the world to an entirely new form of money: digital, decentralized, and existing solely on the internet. Its underlying blockchain technology, which provides transparency and security, also set the stage for many new cryptocurrencies.

Around 2011, alternative cryptocurrencies, or 'altcoins,' emerged. These alternatives to Bitcoin aimed to overcome certain perceived limitations of the pioneer cryptocurrency or offer new use cases. Altcoins such as Ethereum, Litecoin, and Ripple, among others, are now part of an extensive crypto ecosystem that continues to evolve and expand.

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Unlike traditional forms of money issued by governments (also known as fiat currency), cryptocurrencies operate on blockchain, a decentralized system spread across many computers that manage and record transactions.

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology that records and manages transactions across many computers. Every transaction made with a cryptocurrency is registered on this blockchain, creating a transparent and accessible history of all transactions for each cryptocurrency. This decentralization makes transactions highly secure and nearly impossible to counterfeit. Dennis Loos

The creation of new units of a cryptocurrency, a process often termed mining, entails solving complex mathematical problems. This process validates the transactions and adds them to the blockchain. In return, the miners are rewarded with a certain amount of cryptocurrency.

Cryptocurrencies can be bought, sold, or traded on various online platforms known as cryptocurrency exchanges. They can also be used to purchase goods and services from vendors that accept them, or hold as an investment, hoping their value will increase over time.

The term 'altcoin' is a blend of two words: 'alternative' and 'coin'. As the name suggests, altcoins are alternatives to Bitcoin, considered the first and original cryptocurrency. The birth of altcoins can be traced back to 2011, two years after the launch of Bitcoin. The first altcoin to enter the market was Namecoin, which aimed to decentralize domain-name registration, making internet censorship more difficult.

Over the years, the number of altcoins has grown exponentially. Some altcoins were created through a process called 'forking', which occurs when a group of developers clone Bitcoin's open-source protocol, make modifications to its underlying code and launch a new coin. Litecoin, for instance, was created through a fork of Bitcoin by Charlie Lee in 2011.

Other altcoins, like Ethereum, were built from scratch. Launched by Vitalik Buterin in 2015, Ethereum introduced the concept of 'smart contracts', expanding the capabilities of blockchain technology beyond simple transactional uses. Dennis Loos

As of today, there are several thousand altcoins in existence. Notable among them include Ethereum, recognized for its smart contract functionality, and Ripple, known for its real-time gross settlement system. Litecoin, often described as the silver to Bitcoin's gold, is widely appreciated for its faster block generation times. Other significant altcoins include Cardano, Polkadot, and Chainlink, each innovative in their unique ways and contributing to the diversity and vibrancy of the cryptocurrency market.

Ethereum, launched in 2015 by Vitalik Buterin, is more than just a cryptocurrency. It's an open-source platform that allows developers to build and deploy decentralized applications (dApps) on its blockchain. Ethereum's native cryptocurrency, Ether, is used primarily for two purposes: as a digital currency, like Bitcoin, and to run applications and monetize work within the Ethereum network.

Litecoin, created by Charlie Lee in 2011, is often considered the silver to Bitcoin's gold. While Litecoin is based on Bitcoin's open-source codebase, it has several distinctive differences. It offers a faster block generation time and a different hashing algorithm, allowing for quicker transaction confirmation.

Ripple, also known as XRP, is both a digital payment protocol and a cryptocurrency. The Ripple network enables fast, low-cost international transactions, and it's been adopted by many major financial institutions as their settlement infrastructure technology. Ripple's digital currency, XRP, is used to facilitate transfers of money between different currencies.

Cardano is a third-generation cryptocurrency aiming to improve the scalability and security issues found in first- and second-generation cryptocurrencies like Bitcoin and Ethereum. Developed from a scientific philosophy and a research-first approach, Cardano's ADA coin seeks to balance the needs of users with those of regulators, combining privacy with regulation.

Polkadot is a unique multi-chain platform designed to enable various blockchains to interoperate in a shared security model. By facilitating cross-blockchain transfers of any type of data or asset, not just tokens, Polkadot aims to create an internet of blockchains.

Chainlink is a decentralized oracle network that aims to connect smart contracts with real-world data. It allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems, bridging the gap between the on-chain and off-chain worlds.

Market capitalization, or 'market cap', is a key metric in comparing Bitcoin with altcoins. Market cap is calculated by multiplying the total supply of coins by the current price of each coin. Bitcoin, being the pioneer and most widely adopted cryptocurrency, holds the highest market cap, which significantly outstrips any individual altcoin. However, when combined, the total market cap of all altcoins has occasionally exceeded that of Bitcoin, reflecting the growing adoption and diversity of altcoin projects.

On the technological front, Bitcoin and altcoins exhibit a variety of differences. Bitcoin's primary use case is as a decentralized digital currency. Its technology is relatively simple, with a single public blockchain serving as a transparent transaction ledger. Altcoins, however, have greatly expanded on this technological foundation. For instance, Ethereum introduced smart contracts and decentralized applications, while Ripple implemented a real-time gross settlement system.

As the world becomes more digitally interconnected, cryptocurrencies will continue their upward trajectory. The trend towards decentralization is expected to persist, with more and more transactions being made on blockchain platforms. The adoption of smart contract technology, like Ethereum's, will likely proliferate, underpinning significant developments in the DeFi and NFT spaces. Privacy-focused cryptocurrencies like Monero and Zcash could gain traction as concerns over data privacy intensify. Finally, interoperability facilitated by platforms like Polkadot may come to the fore as the crypto ecosystem matures and interoperability becomes increasingly important.

In this exploration beyond Bitcoin, we delved into the world of altcoins - from Ethereum's revolutionary smart contracts, Litecoin's faster block generation time, Ripple's cross-border transaction facilitation to the unique propositions of Cardano, Polkadot, and Chainlink. In its own right, each altcoin has expanded on Bitcoin's foundational technology, diversified the cryptocurrency market, and pushed the boundaries of what's possible in the blockchain space.

The future of cryptocurrencies is filled with immense potential and uncertainty. The market is vibrant and teeming with innovation, each altcoin being an experiment in blockchain technology's vast possibilities. While Bitcoin remains a pivotal figure in the cryptocurrency narrative, the future of crypto may not lie with Bitcoin alone. As we progress, it will be exciting to see how the ecosystem evolves as each altcoin continues writing its unique chapter in the cryptocurrency story.

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aialgox · 1 year

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Cryptocurrency mining is a process that involves verifying transactions on a blockchain network and adding them to the blockchain. This process requires computational power, which is provided by mining hardware. Over the years, mining hardware has evolved from CPUs to GPUs, FPGAs, and ASICs, each with its advantages and limitations. In this article, we will provide an overview of the evolution of mining hardware, its impact on the industry, and the future prospects for the industry. The Early Days: CPU Mining When Bitcoin was first introduced in 2009, mining could be done using a CPU, which is the primary processing unit of a computer. CPU mining was the simplest and most accessible form of mining, requiring only a computer and some software. However, as more people started mining, the network difficulty increased, making it harder to mine Bitcoin with a CPU. CPU mining was eventually phased out in favor of more powerful hardware. GPU Mining In 2010, GPU mining became popular. GPUs, or Graphics Processing Units, were originally designed for gaming but were found to be more efficient at mining than CPUs. GPUs have a higher hashrate, meaning they can solve more complex mathematical equations faster than CPUs. GPU mining was popularized by cryptocurrencies such as Litecoin and Ethereum, which used a mining algorithm called Ethash. GPU mining had several advantages, including lower power consumption and higher efficiency. However, it was not without its limitations, as GPUs were expensive and required significant cooling infrastructure. FPGA Mining FPGA, or Field Programmable Gate Array, mining was introduced in 2011. FPGAs are programmable hardware devices that can be customized to perform specific tasks, including mining. FPGAs were more efficient than GPUs, with lower power consumption and higher hashrates. FPGA mining was popularized by cryptocurrencies such as Namecoin and Ixcoin. However, FPGAs were expensive and required specialized technical knowledge to set up and operate. ASIC Mining ASIC, or Application-Specific Integrated Circuit, mining was introduced in 2013. ASICs are specialized hardware devices designed specifically for mining cryptocurrencies. ASICs are significantly more efficient than CPUs, GPUs, and FPGAs, with higher hashrates and lower power consumption. ASIC mining was popularized by cryptocurrencies such as Bitcoin and Litecoin. ASICs were initially expensive, but as more manufacturers entered the market, prices decreased, making ASICs more accessible to miners. How ASICs Changed the Game ASICs significantly improved mining efficiency, enabling miners to process transactions faster and earn more rewards. The introduction of ASICs also led to increased competition in the mining industry, as miners with ASICs could outcompete those using less efficient hardware. The rise of ASIC manufacturers, such as Bitmain and Canaan, created a new industry within the cryptocurrency ecosystem. These companies produced and sold ASICs to miners, becoming an integral part of the mining process. ASIC Manufacturers The ASIC manufacturing industry is dominated by a few major players, including Bitmain, Canaan, and Ebang. These companies produce ASICs for various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Each manufacturer produces multiple ASIC models with varying hashrates, power consumption, and prices. Choosing the right ASIC model is critical for maximizing profits in mining. ASIC Resistance and the Return of GPU Mining Some cryptocurrencies have adopted an ASIC-resistant mining algorithm, designed to prevent the centralization of mining power by ASIC manufacturers. ASIC-resistant algorithms are designed to be more difficult to solve with ASICs, making GPU mining more efficient. Examples of ASIC-resistant cryptocurrencies include Ethereum, Monero, and Vertcoin. These cryptocurrencies have seen a resurgence in GPU mining since the adoption of ASIC-resistant algorithms.

Ethereum and the Rise of GPU Mining In 2017, Ethereum announced a switch from its Ethash mining algorithm to a new ASIC-resistant algorithm called ProgPoW. This decision was made to promote decentralization and prevent the centralization of mining power by ASIC manufacturers. The switch to ProgPoW led to a surge in GPU mining, as miners with GPUs could once again compete with ASICs. The switch also highlighted the importance of mining algorithm design and the need to prevent centralization in the mining industry. Examples of ASIC-Resistant Cryptocurrencies Several cryptocurrencies have adopted ASIC-resistant mining algorithms to promote decentralization and prevent the centralization of mining power by ASIC manufacturers. Some examples of ASIC-resistant cryptocurrencies include: Ethereum: Ethereum's ProgPoW algorithm is designed to be resistant to ASICs and promote decentralization in mining. Monero: Monero's RandomX algorithm is designed to be memory-hard and prevent the use of ASICs in mining. Ravencoin: Ravencoin's X16R algorithm is designed to be ASIC-resistant by incorporating randomization into the mining process. Challenges with ASIC Resistance While ASIC resistance promotes decentralization, it also poses technical and security challenges. Designing an ASIC-resistant algorithm requires careful consideration of factors such as memory usage, computation complexity, and resistance to optimization. Additionally, ASIC resistance can also lead to a higher risk of 51% attacks, where a single entity controls over 50% of the mining power. This risk can be mitigated through the use of mining pools and other security measures. Future of Mining Hardware Development The mining hardware industry continues to evolve, with manufacturers introducing new products with higher hashrates and lower power consumption. Emerging technologies, such as quantum computing, also have the potential to disrupt the mining industry. Quantum computing has the potential to solve complex mathematical equations much faster than traditional hardware, potentially rendering ASICs and other mining hardware obsolete. However, the development of practical quantum computing technology is still in its early stages, and its impact on the mining industry remains uncertain. Impact of Mining Hardware on the Crypto Industry Mining is an integral part of the cryptocurrency ecosystem, providing the computational power necessary to process transactions and maintain the blockchain. The efficiency and accessibility of mining hardware have a significant impact on the industry, influencing cryptocurrency values and adoption rates. Regulatory and legal considerations also play a role in the development and use of mining hardware. Governments and regulatory bodies may seek to restrict or regulate the use of mining hardware, potentially impacting the mining industry's future prospects. The Role of Mining Pools Mining pools are groups of miners who combine their computational power to increase their chances of solving a block and earning a reward. Mining pools have become an essential part of the mining ecosystem, as they enable small-scale miners to compete with larger operations. Major mining pools include Antpool, F2Pool, and Poolin. These pools control a significant portion of the mining power in various cryptocurrencies, highlighting the potential for centralization in the mining industry. Significance of Understanding the Evolution of Mining Hardware Understanding the history and evolution of mining hardware is crucial for investors and traders in the cryptocurrency market. Mining hardware efficiency and accessibility can impact cryptocurrency values and adoption rates, making it essential to stay informed about developments in the industry. Environmental Impact of Mining Hardware Mining hardware has a significant environmental impact, with some estimates suggesting that Bitcoin mining alone consumes more energy than entire countries.

The high energy consumption of mining hardware has raised concerns about its sustainability and environmental impact. Efforts to reduce the environmental impact of mining hardware include the adoption of renewable energy sources and the development of more energy-efficient hardware. Mining Hardware Maintenance and Upgrades Maintaining and upgrading mining hardware is crucial for maximizing profits and minimizing downtime. Best practices for maintaining mining hardware include regular cleaning, monitoring temperatures and power consumption, and replacing faulty components promptly. Upgrading mining hardware can also improve efficiency and profitability. Upgrades may include adding more powerful hardware components, such as GPUs or ASICs, or implementing more efficient cooling solutions. Cost considerations are also important when it comes to maintenance and upgrades. Miners must balance the cost of upgrading hardware with the potential increase in profits. Choosing the Right Mining Hardware Choosing the right mining hardware is critical for maximizing profits in mining. Factors to consider include the hashrate, power consumption, and price of the hardware. Comparing different mining hardware options can help miners determine which hardware is best suited for their needs. It is also essential to evaluate the profitability of mining hardware, taking into account factors such as electricity costs and the current cryptocurrency value. Mining Hardware and Network Security Mining hardware plays a crucial role in network security, as it is responsible for processing transactions and adding them to the blockchain. However, mining hardware can also pose a security risk, as it can be used to carry out 51% attacks. Best practices for securing mining hardware and the network include using multi-factor authentication, implementing firewalls and intrusion detection systems, and regularly updating software and firmware. Mining Hardware and Centralization The efficiency and accessibility of mining hardware have contributed to centralization in the mining industry, with large mining pools and ASIC manufacturers controlling a significant portion of the mining power. Centralization in the mining industry can pose a risk to network security and promote the concentration of wealth in the hands of a few entities. Efforts to promote decentralization in mining include the adoption of ASIC-resistant mining algorithms and the development of alternative mining models, such as proof-of-stake. The Future of Cryptocurrency Mining The mining industry is likely to continue evolving, with manufacturers introducing more efficient and specialized hardware. Emerging technologies, such as quantum computing, also have the potential to disrupt the industry. The role of mining in the broader adoption of cryptocurrencies remains a topic of debate, with some arguing that the high energy consumption of mining is unsustainable, while others believe that mining is an essential part of the cryptocurrency ecosystem. Conclusion Mining hardware has evolved significantly over the years, from CPUs to ASICs. The efficiency and accessibility of mining hardware have a significant impact on the cryptocurrency industry, influencing cryptocurrency values and adoption rates. Understanding the evolution of mining hardware is crucial for investors and traders in the cryptocurrency market, as it can help them make informed decisions about their investments. The future of the mining industry is likely to be shaped by emerging technologies, regulatory and legal considerations, and efforts to promote decentralization and sustainability.

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seosamco · 1 year

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The Rise of Non-Fungible Tokens (NFTs)

Non-fungible tokens (NFTs) are the latest craze in the world of digital assets. These unique tokens have made headlines for their multi-million dollar sales and high-profile endorsements. But what exactly are NFTs, and why are they causing such a stir? In simple terms, NFTs are digital assets representing ownership of a unique item or piece of content, such as art, music, or collectables. Unlike cryptocurrencies, which are fungible and interchangeable, NFTs are unique and cannot be reproduced. This has led to a surge in interest from artists, musicians, and creators looking for new ways to monetize their work. In this post, we'll explore the rise of NFTs and what it means for the future of digital ownership. From the art world to the sports industry, NFTs are changing how we think about value and ownership in the digital age.

What are NFTs?

NFTs are non-fungible tokens. These special cryptographic tokens are immutable and operate on a blockchain. NFTs can symbolize digital or real-world items like artwork and real estate. They get particular identifying numbers and information that differentiate them from other tokens. It all relies on the market and owners' value assigned to NFTs. NFTs may be sold and exchanged for cash, like cryptocurrencies. NFTs are generated by a procedure called minting, in which the details of the NFT are stored on a blockchain. Additionally, NFTs may include smart contracts. It provides the artist with a share of any future token sales.

The Rise of NFTs

NFTs, or non-fungible tokens, have gained significant popularity in art and beyond in recent years. Here is an overview of the rise of NFTs in today’s world.

Brief History of NFTs

NFTs operate on blockchain technology. They can represent anything from artwork and music to domain names and tickets. But how did NFTs come to be, and what are some milestones in their history?

The first NFT created was Quantum, which was minted by Kevin McCoy on Namecoin in 2014. Namecoin was a blockchain that allowed users to register and transfer domain names. Quantum was an animated image of a spinning cube with the word “Quantum” on it. McCoy wanted to experiment with digital ownership and authenticity on the blockchain.

However, NFTs did not gain much attention until 2017, when several projects emerged on the Ethereum blockchain. Ethereum is a platform that enables smart contracts and self-executing agreements that encode the rules and logic of NFTs. One of the most popular NFT projects in 2017 was CryptoKitties, which allowed users to breed, collect, and trade digital cats. Each CryptoKitty was unique and had its traits and genes. CryptoKitties became so popular that they congested the Ethereum network and raised millions of dollars in sales.

Since then, NFTs have exploded in popularity and diversity. Some of the notable NFT projects include CryptoPunks, which are pixelated characters that are considered the first NFT art collection; Decentraland, which is a virtual world where users can buy, sell, and build on parcels of land; NBA Top Shot, which is a platform that sells video highlights of basketball games as NFTs; and Beeple’s Everydays, which is a collage of 5,000 digital artworks that sold for $69 million at Christie’s auction house.

NFTs have revolutionized how we create, consume, and value digital content. They have enabled new forms of expression, creativity, and ownership. They have also challenged the traditional notions of art, culture, and identity. NFTs are not just a trend or a fad; they are a paradigm shift that will shape the future of the digital economy.

Why are NFTs Becoming More Popular?

NFTs have become more popular in recent years. But why are NFTs becoming more popular in recent years? Here are some of the main reasons:

They offer an ownership alternative to traditional assets. NFTs allow digital creators to claim ownership and authenticity of their work on the blockchain, a transparent and secure ledger that records every transaction. NFTs also enable buyers to own the original digital asset rather than a copy or a print.

They are not easily replaceable. Unlike fungible assets, such as money or cryptocurrencies, NFTs are not interchangeable. Each NFT has its own unique code and metadata that distinguish it from other tokens. This makes NFTs scarce and valuable.

They are perfect for collectors. NFTs appeal to collectors who want to own rare and exclusive digital items.

NFTs can also be used for beating purposes, such as betting on the outcome of sports events or predicting the future value of NFTs. Some platforms like Sorare allow users to create and trade fantasy football teams using NFTs.

NFTs are here to stay. NFTs are not just a trend; they are a paradigm shift that will shape the future of the digital economy. NFTs have revolutionized how we create, consume, and value digital content. They have enabled new forms of expression, creativity, and ownership. They have also challenged the traditional notions of art, culture, and identity.

These are some main reasons why NFTs are so popular right now. As more people discover the potential of NFTs, we can expect to see more innovation and diversity in this space.

Examples of Successful NFT Sales and Auctions

NFTs have become very popular recently, with some selling for millions at auctions or fixed prices. Here are some examples of successful NFT sales and auctions that demonstrate the diversity and potential of NFTs as a new form of digital expression and ownership.

Beeple’s Everydays: The First 5000 Days

This is the most expensive NFT ever sold, fetching $69 million at Christie’s auction house in March 2021. It is a collage of 5,000 digital artworks that Beeple created daily for over 13 years. It was the first NFT sold by a major auction house, marking a historic moment for digital art.

CryptoPunk #7523:

This is one of the most valuable CryptoPunks. Pixelated characters are considered the first NFT art collection. CryptoPunk #7523 is also known as “Covid Alien” because it wears a mask and has an alien head. It sold for $11.8 million at Sotheby’s auction house in June 2021.

The Pixel

This minimalist NFT consists of a single pixel (1x1). It was created by Pak, a mysterious digital artist who collaborated with Sotheby’s for an NFT sale called “The Fungible”. The Pixel sold for $1.36 million in April 2021, making it one of the most expensive pixels ever.

FreeRoss

This is the first NFT created by Ross Ulbricht, the founder of Silk Road, an online marketplace that facilitated illegal Bitcoin transactions. Ulbricht is currently serving a life sentence in prison. He created the NFT using a prison phone and a web app. The NFT depicts his self-portrait and a handwritten note. It sold for $6.12 million in December 2021, with proceeds going to his legal defense fund and a charity called Art4Giving.

Stay Free

This is an NFT created by the former NSA contractor Edward Snowden who leaked classified information about mass surveillance programs. The NFT shows his portrait made of court documents that ruled the NSA’s activities as unlawful. It sold for $5.4 million in April 2021, with proceeds going to the Freedom of the Press Foundation5.

Future of NFTs

Predictions for the Future of NFTs

NFTs have created new possibilities and challenges for artists and collectors. But what is the future of NFTs? Here are some of the main ones:

NFTs may become more mainstream and accessible to a wider audience as more platforms, marketplaces, and services emerge to facilitate the creation, discovery, and exchange of NFTs. For example, social media platforms like Twitter and Instagram may integrate NFT features to allow users to showcase their collections or verify their identities.

NFTs may also become more diverse and innovative as more assets and experiences are tokenized into NFTs. For example, some NFT projects may involve virtual reality, augmented reality, artificial intelligence, or interactive elements to create immersive and engaging user experiences.

NFTs may also positively impact various industries and sectors, such as gaming, entertainment, education, healthcare, and finance. For example, some NFT projects may enable new forms of gamification, monetization, personalization, and collaboration for users. Some NFT projects may also address social and environmental issues, such as climate change, wildlife conservation, mental health awareness, and international development.

NFTs may also face some challenges and risks in the future, such as regulation, security, scalability, and sustainability. For example, some NFT projects may encounter legal and regulatory uncertainties or conflicts in different jurisdictions. Moreover, some NFT projects may be vulnerable to hacking, theft, or fraud. Furthermore, some NFT projects may face scalability issues due to the limitations of the underlying blockchain networks. Additionally, some NFT projects may have a negative environmental impact due to some blockchain networks' high energy consumption and carbon emissions.

Potential Uses for NFTs Beyond Art and Collectables in the Future

NFTs are not only for art and collectibles but also have many other potential uses in various industries and domains. According to the search results, some of the possible uses for NFTs beyond art and collectibles are:

Supporting the Play-to-Earn (P2E) gaming model, where gamers can earn rewards and own in-game assets as NFTs.

Enabling true ownership of digital art, where artists can retain some royalties every time their work is sold or streamed through smart contracts.

Verifying memberships through “digital tickets”, where NFTs can act as proof of access or identity for events, clubs, or services.

Removing fraud in the music industry, where NFTs can help track and protect the rights of musicians and songwriters.

Purchasing digital real estate in the metaverse, where NFTs can represent virtual land and buildings that can be traded or rented.

Complementing the ownership of physical assets, where NFTs can link to real-world items such as cars, houses, or jewellery and provide authentication, provenance, and traceability.

Storing medical records and clinical data, where NFTs can ensure the privacy and security of sensitive health information and facilitate data sharing among authorized parties.

These are examples of how NFTs can be used beyond art and collectables. There may be more use cases yet to be discovered or explored.

Investing Opportunity in NFTs

Investing in NFTs is a popular trend that has attracted many investors interested in digital assets and blockchain technology. Here are some popular Stocks related to NFTs you can consider as Investment opportunities.

Liquid Media Group (NASDAQ: YVR): This Canadian company with a subsidiary in India called Majesco Entertainment. Liquid Media is a media and entertainment company that creates and distributes content across various platforms. It also partners with CurrencyWorks, a blockchain platform that enables NFT creation and transactions.

Jiayin Group (NASDAQ: JFIN): This Chinese company is in India through its subsidiary Fintech Smart Trade. Jiayin Group is an online marketplace that connects borrowers and investors. It also launched an NFT trading platform called NFT Star in August 2021, which allows users to buy and sell digital collectables.

Reliance Industries (NSE: RELIANCE): Major player in the Indian economy, Reliance has interests in various sectors, including digital services, media, retail, and telecom. Reliance Industries owns Jio Platforms, which operates JioMart, an online grocery platform that partnered with WazirX, India's largest cryptocurrency exchange, to launch an NFT marketplace called JioMart NFTs in October 2021. The marketplace allows users to buy and sell digital artworks, music, videos, and other NFTs using cryptocurrencies.

Zee Entertainment Enterprises (NSE: ZEEL): This is an Indian media and entertainment company that produces and broadcasts content across various channels and platforms. Zee Entertainment Enterprises announced its entry into the NFT space in November 2021 by launching ZeeNFTs.com, an online platform that offers exclusive NFTs based on its popular shows, movies, celebrities, and characters. The platform also plans to host auctions, events, and contests for NFT enthusiasts.

Here is a table of 20 stocks related to NFTs with their current prices as of April 7, 2023 (source: Yahoo Finance):

Impacts of NFTs on the Stock Market: Investors' Perspective

The impact of NFTs on the stock market is a topic that has attracted a lot of attention and debate recently. NFTs are non-fungible tokens, unique digital assets that use blockchain technology to signify ownership. NFTs have become popular in various fields, such as art, music, sports, gaming and real estate. Some people see NFTs as a new way of investing in collectables, while others see them as supporting social causes or creating a positive impact.

Some possible effects of NFTs on the stock market are:

NFTs may create new opportunities for investors to diversify their portfolios and access new markets that were previously inaccessible or illiquid. For example, investors can buy fractional shares of rare artworks or sports memorabilia tokenized into NFTs.

NFTs may also create new challenges and risks for investors, such as volatility, security, regulation and environmental impact. For example, NFTs are not an asset class by themselves but rather a way of indicating ownership of different types of assets. Therefore, the value of NFTs depends on the demand and supply of the underlying assets, which can be influenced by various factors such as hype, misinformation, and trends. Moreover, NFTs are mostly supported by the Ethereum blockchain, which uses a lot of energy and emits greenhouse gases. Additionally, NFTs may face legal and regulatory uncertainties in different jurisdictions.

NFTs may also have an impact on the performance and valuation of some stocks that are related to NFTs or blockchain technology. For example, some companies involved in creating, selling or facilitating NFTs may see increased revenues and profits as the demand for NFTs grows. Some examples of such companies are Dolphin Entertainment ( NASDAQ: DLPN), Hall of Fame Resort & Entertainment ( NASDAQ: HOFV), Funko ( NASDAQ: FNKO) and Takung Art ( NYSE: TKAT). On the other hand, some companies that are competing with NFTs or facing disruption from NFTs may see a decrease in their revenues and profits as the demand for their products or services declines. Some examples of such companies are traditional art dealers, auction houses, publishers and media companies.

Conclusion

In conclusion, the rise of non-fungible tokens (NFTs) has been extraordinary. From digital art to sports collectables, NFTs have revolutionized the way we think about ownership and value in the digital world. As we continue to see more and more mainstream adoption of NFTs, it's clear that this technology is here to stay.

If you're interested in investing in NFTs and the stock market, Samco is a great option. With their user-friendly platform and expert advice, they can help you navigate the exciting world of NFTs and make informed investment decisions. Additionally, it offers low brokerage fees and other cost-effective options that can help you maximize your returns.So why wait? Start exploring the possibilities today!

#NFTs #what is NFTs

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utgo · 1 year

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UTGO establishes an open organic ecological economy that directly shares value with users to achieve healthy development

The development of UTGO's blockchain technology and concept is accompanied by the deconstruction and reconstruction of the " boring rabbit" NFT system. UTGO found that Namecoin NFTs made a very fundamental contribution. "Boring Rabbit " NFT is an application project forked from Bitcoin. It is designed and implemented to add the concept of "decentralized domain name" to the original electronic cash system, and adopts merged mining with Bitcoin The way to ensure the security of the node network.

UTGO: Continuously promoting the development of blockchain technology

The UTGOWeb3.0 trading system uses a different consensus algorithm concept, that is, the POS proof-of-interest mechanism. After the POS mechanism, new attempts on the blockchain system can continue to emerge at low cost, and the micro-innovation of the consensus mechanism is also Continue to promote the development of blockchain technology. The UTGOWeb3 ecological economy is a project that grew up on the giant shoulders of the POS consensus mechanism, and later improved the consensus mechanism into a DPOS representative proof of rights and interests. In the UTGOWeb3 ecological economy, new concepts are constantly being proposed, including the Boring Rabbit project that highlights digital identities, and by defining multiple types of transactions, it is easier to register and issue digital assets. The UTGOWeb3 ecological economy mainly decentralizes the concept of exchanges, and in order to achieve a good trading experience, it has re-improved the speed of output to achieve block output in seconds, and correspondingly sacrificed some system stability.

In the UTGO digital value transfer system, we want to re-emphasize the importance of digital assets. The dependency sequence is that smart contracts need digital assets to work, not the other way around. If we compare the object-oriented programming model, we will find that digital assets are an object-oriented class, and contracts are methods in the class. The digital assets of the UTGO digital value transfer system will follow the UTXO method of the Bitcoin system (Unspent Transaction Output), and the digital assets will retain a domain space and an address/digital ID identity. Any transaction will be defined by a set of inputs and outputs, and signed with the private key of the owner of the current digital asset and the previous trader , and these elements together form a new UTXO. The result of this design is that the digital assets on the UTGO digital value transfer system will be easily received and sent, and only when the demand for more complex transaction models arises, smart contracts will be required.

A person cannot physically hold online smart assets like holding gold objects in real life. The ownership of smart assets needs to be controlled by individuals over digital identities, and then held by digital identities in a mathematically unforgeable way. "Boring Rabbit" NFT, as an online identity symbol, can hold smart assets on the blockchain on behalf of people.

end:

UTGO will reserve a place on the blockchain for value intermediaries. Custody UTGO can keep assets in physical form, and then issue smart assets on the chain, identity authentication UTGO can provide proof of personal information and relevance on the chain, and supervise UTGO (such as government departments that supervise special transactions) can provide transactions on the chain Authenticity, proof of compliance ... there are many other NFTs that can provide such services on UTGO.

#nft

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im-productreviews · 2 years

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How Can I Buy Cryptocurrency?

Cryptocurrency, also known as digital currency, is a medium of exchange that uses cryptography for security. Cryptography involves using codes and algorithms to encode information so only those with access can read it. It is also called digital cash. The term crypto currency was first used in 1998 by Wei Dai, a computer scientist at the University of Hong Kong.

The earliest form of cryptocurrency was invented by a person or group of people who wanted to create a new type of money that would be secure from theft or other forms of corruption. Cryptocurrencies have been around since ancient times, but were mostly used by governments and religious organizations.

Today, there are over 1,000 cryptocurrencies in circulation. Many of them are based on Bitcoin, which is the most popular cryptocurrency in existence. Other popular cryptocurrencies include Litecoin, Dogecoin, Namecoin, Peercoin, and Vertcoin.

Cryptocurrency has become very popular among internet users. Most of these currencies are traded on exchanges where they can be bought and sold.

Cryptocurrency can be used to buy things online, such as products and services. It is also possible to use it to pay bills. Many people use cryptocurrency to make donations to charities.

There are many websites that allow you to convert your fiat currency into cryptocurrency. These sites will usually charge a small fee. Some of these sites will also provide you with an option to buy cryptocurrency directly from the site.

If you want to buy cryptocurrency, you need to find a good website that offers this service. Once you have found a website, you should choose which cryptocurrency you want to purchase. You will then need to enter the amount you want to spend and your bank account information. After entering all of this information, the website will verify that you have enough money in your account to cover the purchase price of the cryptocurrency. If you do not have enough money in your account, the website will inform you of this and ask if you want to proceed with the transaction. If you choose to go through with the transaction, the website will send you the cryptocurrency. You will then need to transfer the cryptocurrency to your bank account.

https://popscrypto.com/index.php/2022/08/02/how-can-i-buy-cryptocurrency/

#bitcoin #dogecoin #ethereum #litecoin #namecoin #peercoin #vertcoin #cryptocurrency

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letscollectnft · 1 year

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The Beginnings and History of NFTs

There’s no denying it: NFTs are fundamentally reshaping the digital economy, taking blockchain to unprecedented prominence in a new era of Web3. It all started with the first NFT ever created, called Quantum, which was minted by Kevin McCoy on Namecoin in 2014. But several other NFTs were launched on pre-Ethereum blockchains over the following years — for example, Spells of Genesis launched in…

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cryptrending · 1 year

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What is the purpose of the merkle_nonce in the Namecoin AuxPOW merged mining specification?

The Namecoin AuxPOW merged mining specification indicates that a “merkle_nonce” should be included but suggests that it “may as well be left at zero”: merkle_nonceint32_tNonce used to calculate indexes into aux work merkle tree; you may as well leave this at zero That string of 44 bytes being part of the coinbase script means that the miner constructed the AuxPOW Block before creating the…

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trylkstopocket · 1 year

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The NFT Ecosystem Is a Burnout Machine

When serial entrepreneur Wil Lee first heard about nonfungible tokens, after Mike Winkelmann (aka Beeple) sold one for more than $69 million at Christie’s in March 2021, he waved them off as a money-laundering scam. But after noticing that they were showing up on his radar again and again, he began to pay attention.

In June 2021, almost four years after he became involved in the crypto industry, Lee decided to buy his first NFT. Within a week, he had transferred his entire portfolio into the NFT ecosystem. Within a month, he had sold one of his real estate properties and moved all of the money from the sale into NFTs.

After spending a few months investing, Lee decided to launch his own NFT project, the littles. Like many other NFT creators, Lee was in charge of his entire project: the tech, the community, the art, and the marketing. “Every day I’m just on Discord, making sure that it has not been hacked and that everything is performing and okay and on schedule,” he said.

Despite taking as many precautions as possible, Lee found that it didn’t take long for his worst fears to become reality. During a giveaway, he realized that hackers had infiltrated his website: “I thought, is everything I’ve built for the past couple of months going to trash because of this exploit?” But the scariest part of this mishap wasn’t that he could lose everything—it was that it could hurt the people in his community who had put their faith and money in his project. “That was when I realized that this was going to be a rough ride,” Lee stated.

Although NFTs have been around since 2014, when artist Kevin McCoy minted the first-known NFT, Quantum, on the NameCoin blockchain, most people had no idea they existed until the high-profile sale by Beeple in 2021. Since then, multiple major brands from Taco Bell to Gucci have jumped on the bandwagon and released their own NFTs.

For many observers, the entire NFT industry is a pointless joke that has gone on for far too long. Activists have also heavily criticized NFTs because most are minted using the energy-intensive proof-of-work method. In February, the World Wildlife Fund U.K. ended its NFT sale following backlash from environmentalists.

For enthusiasts, though, the backlash is just noise—they believe NFTs offer major can’t-miss opportunities. The community, innovation, and investment market are seductive, but the space moves quickly, and watching other people rave about their success makes it easy to feel like time is running out and you’re being left behind. The pressure to move quickly (and the FOMO that comes with it), the way the ecosystem is set up, and the chance that the entire field of NFTs could all come crashing down at any moment is leading to collectors and creators pushing as hard as they can to succeed. But you can’t push yourself forever. Eventually, you begin to burn out.

Being in the NFT world, of course, means competing to buy NFTs. But to get even a chance of acquiring some of the most-sought-after ones, you have to get onto a project’s whitelist: a list of the people who get first dibs on NFTs, often for a cheaper price and sometimes even for free.

Getting onto a whitelist isn’t always easy, and every project has its own set of instructions users must follow in order to get whitelisted, like filling out a Google form, inviting people to a Discord community, or signing up to a lottery system that picks addresses at random.

Applying for a single whitelist can take anywhere from a couple of minutes to a few hours. While some people will only apply for projects they’re really excited about, other investors will apply for multiple whilelists per day. This process is referred to as “whitelist grinding,” and burnout often follows close behind.

Rita is an NFT collector and creator who is known online as __ritanevermind. During the worst stages of her lead-up to burnout, Rita stopped taking breaks so she could be more productive, and even began skipping meals. “Last time I had FOMO [that] led me to burnout, I was trying to get on the whitelist on one of the new NFT projects that are launching soon,” she told me. “I was logged in their Discord literally 24/7 for a week. I got whitelisted, but the [psychological] price was tremendous. My free time, my time for making art, my family time, everything was replaced with my phone. I slept on average four hours per night because I had to stay active there.”

Although Rita mostly enjoyed participating in the Discord channel and chatting with fellow community members, being on social media all day made her feel like she was missing out on real-life experiences. As a result, she ultimately decided to leave the channel: “I’m not there anymore because it’s not worth it. My life is not worth wasting on some Discord server to get a presale opportunity I’m not even sure I’ll buy.”

Many investors come into the space trying to flip NFTs for profit after reading success stories about other investors becoming “instant millionaires” by investing in the right projects. But while the stock market includes a blueprint of how to evaluate investments, NFT projects have no such thing. As a result, many investors resort to “going with their gut” when it comes to deciding which projects to invest in. This means that even for experienced investors, figuring out which project to invest in can be difficult.

Flur is a “whale investor” in the NFT space, which means he holds a large collection of NFTs. (“Whale investors” get their name because their movements within the NFT space can disturb the waters that smaller fish swim in.) Flur is well known within the community for having one of the best NFT collections; it currently includes more than 10,000 assets. His tweets have a reputation for driving people to new and upcoming projects.

However, despite his wealth of experience in the space, Flur still sometimes finds himself struggling with how quickly the space is moving. “The NFT community is experiencing exponential growth, which means nonstop new projects and information,” he said. “It’s very hard to keep up with, but the potential payout and the rewards are huge when it comes to catching the next big blue chip early.”

Many people decide to enter the NFT space when market confidence is high because they see others making a profit and want to get in on it. When Beeple made headlines in March 2021, the NFT market skyrocketed, and it has been volatile since then. Prices rose again in January of this year following an influx of celebrity collaborations, then slumped again sharply, reaching a low in March. Now, it looks like sales are on the up again—but how long this will last is anyone’s guess. That doesn’t stop people from making speculations: Last weekend, OpenSea—the largest NFT marketplace—set a new daily trading record of $476 million in Ethereum. A couple of days later, the Wall Street Journal reported that “the NFT market is collapsing.”

For founders bearing the weight of an entire community made up of thousands of new investors relying on their art to get rich, the responsibility can feel overwhelming. “The people and the investors within this space are very green, and they fall for anything and everything,” Lee said. “And once they buy into your project at a very high price and they don’t see action right away, or they see any type of misinformation, they panic and sell at a loss.”

Loopify is an NFT artist–turned-collector who founded Treeverse, an open-world fantasy in the metaverse. He also owns Interleave, an NFT production team. Thanks to NFTs, Loopify has become a millionaire. But that doesn’t mean he is immune to the stressors that come with being an NFT creator and investor. “Around a year ago, the market was stale for quite a bit,” he said. “This happens quite often when the price is down. Because the market slowed down, it means engagement slowed down. People stopped responding to my posts and less things were happening. My art wasn’t selling, nor were some of the things I collected.”

Loopify described this event as his “first burnout moment.” He began to question his involvement in the NFT community altogether. But just when he had begun to rethink his decisions, the market slowly began to recover, and engagement and sales returned.

Even when things are going well, it can be tricky to keep your investors and followers satisfied. Loopify said, “You have people that continuously ask questions on every social media [platform]. Even if you answer them a hundred times, they’ll keep coming.”

But not everyone chooses to return to the NFT space after taking some time away. For one anonymous NFT collector, it all became too much. “This space has become so toxic,” they told me. “People are saying WAGMI [“we are all gonna make it”—an acronym used widely within the crypto community] but that’s a baldfaced lie.”

They tell me that the NFT industry has changed significantly over the past year—and not in a good way: “So many devs mint then make promises and never deliver.” In the NFT world, “minting” digital assets is the process of uniquely publishing a token on the blockchain so others can publish it. This allows creators to monetize their work. “Or they take forever to do so, which in this space is a death sentence,” they continued, seemingly confirming the fears of many creators who told me they feel like they’re falling behind.

When I asked if they had any advice for newbies in the space trying not to burn out, they emphasized the highs and lows of the market and encouraged people not to panic and sell when prices are low.

But their final piece of advice fell along the same lines as the advice from everyone else that I spoke to: “Always put in real life first.”

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