Tag: Blockchain Technology

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Technology

How Blockchain Technology Is Making the World Better

Blockchain technology is immensely helpful in the health and pharmaceutical industry, insurance, banks, music industry, the supply chain of many other industries, real estate and many more. With the help of distributed computer systems, the blockchain technology has the highest potential to replace the third parties. Here, the third party is notaries, banking trades, land registry etc. Here are some points which will explain how up and coming cryptocurrencies are helping in having the better world or one can go through the link to get the details.

Health and pharmaceutical/medicines

Drug integrity is the most important factor, which occurs because of the blockchain technology. If the absolute identification of drugs can be done from production to the consumption, a lot of lives can be saved every year. This system helps in reduction of costs, eliminate error-prone data movement and increases confidence and security. The blockchain technology can help in adding some important verified information and more interestingly, the information cannot be manipulated.

Fashion

The blockchain technology allows the absolute tracking of conformity and sustainability of the garment due to new up and coming cryptocurrencies. Moreover, this technology helps to track the entire lifecycle of the garment. This technology helps the companies to work together like fashion, consumer goods sector and apparels sector. This technology has reduced the reliability of the consumers to the sustainability of the apparel fashion.

Cross-border payments

In underdeveloped and developing countries, a big problem is to access a capital for small food producers. So as to treat this problem, a new system for the fair commodity has been developed. But the blockchain technology has helped people in a better way. The blockchain technology has helped the people to make the international payments very quickly.

Voting

One of the biggest disadvantages of the voting system is that the person or voter should be available at the polling booth, at the time of voting. Therefore, it is very difficult for the people to go for voting, to the voting booths. Some people go to voting booths to do voting while some do not want to go through such difficulties and they drop the idea of voting. So as to solve this problem, blockchain technology is working for the online voting to occur. Blockchain technology does not only helps in making the online voting possible but the citizens can view the accurate information on the polls, other statistics and many other factors. Online voting is a reality nowadays and considered the safest mode of voting.

The use of up and comings cryptocurrencies is helping businesses and individuals by keeping the personal information safe and along with that, the blockchain technology also helps in the cryptocurrency.

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Technology

Everything You Need to Know about Blockchain Technology

Blockchain technology was not known in the earlier world but nowadays, it is one of the most renowned technologies and this technology has gained a growth in recent years. As the people are not much aware and known about the blockchain technology so the question arises here is what exactly the blockchain technology is.

In simple words, blockchain technology revives the media industry as well as industry related to entertainment. The blockchain is composed of 2 words i.e., block and chain and the full term is a chain of blocks where blocks are made up of cryptogenic hash and data of the transaction. Doing any change in the data of blockchain technology is almost next to impossible and the blockchain technology is completely resistant to the changes. Blockchain technology has affected the media and entertainment industry in several ways but here are 3 main ways by which blockchain technology is disrupting media and entertainment industry.

3 main ways blockchain technology is disrupting media and entertainment industry are as follows –

A need for distribution –

Before upcoming of the blockchain technology, there was need of a distributor for the media and entertainment industry so as to make the distribution possible but the upcoming of blockchain technology completely removed the need of a distributor. For distribution, there is need of a distributing company which charges a huge amount for distribution while in blockchain technology, content can be directed distributed among the customers.

Cybersecurity –

This is one of the important aspects of blockchain technology. Security issues and hacking was one of the major concerns as most of the data was being hacked especially in the Hollywood. This matter can clearly overcome by the upcoming of the blockchain technology. Before the arrival of the blockchain technology, data was penetrable by the hackers easily but blockchain technology is strongly resistant to the hacking.

Monetization –

The payment modes were so complicated before the arrival of the blockchain technology. But the payment modes by the blockchain technology is easy and quick by the incoming of the blockchain technology. The creators can easily get the payment due to blockchain technology.

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Technology

What is the Blockchain Technology?

Investment in cryptocurrency is one of the most profitable investments currently. The Cryptocurrency market is over $ 500 billion, and investors everywhere are looking for ways to access a slice of the new El Dorado of the world. Investing in a new cryptocurrency can have a higher return than investing in an already existing crypto coin, such as bitcoin or Ethereum. Here you can find additional information.

How can you invest in cryptomonads?

Investing in cryptocurrency can be done in two ways: Buying a cryptocurrency that has already been launched or investing in launching a new cryptocurrency Initial Coin Offering (ICO).

In the first case, the investment is made through exchanges. In order to access such an exchange, the user must create a wallet (virtual wallet) that can be accessed by the user through a unique code called the private key.

Under the new regulations, called AML (Anti Money Laundering), platforms should have customer data – KYC (Know Your Customer).

Some exchange platforms, when creating a wallet, ask for a picture of the identity card, and make a “selfie” photo where the user must hold the bank card in their hand, leaving the last 4 digits on the card to see prove it is his. Not all platforms comply with these regulations. Once this identification process is complete, users can start buying coins. The second investment variant is the one in a digital coin to be launched – a procedure called ICO.

See this website: https://www.investopedia.com/terms/c/cryptocurrency.asp

What is an ICO?

Initial Coin Offering (ICO) is the correspondence of IPOs, i.e. stock listings, and is used to raise capital for launching a new digital coin. More than 3.4 billion dollars were invested in 211 successfully launched ICOs in 2017. ICO is a three-step process where the company gives the opportunity to potential investors to buy cryptocurrency to achieve two capitalization thresholds called “Softcap” and “hardcap”.

The Softcap is the first capital threshold that most ICOs seamlessly reach, according to experts, and Hardcap is the total capitalization threshold that the company wants to accumulate for the digital currency to be launched. At the next stage, “Pre-sale”, anyone can reserve a number of digital coins through a “white contract”. Not all ICOs make reservations. The third step is “Crowdsale” in which anyone can purchase, this being the moment when the ICO is actually launched.

There are few ICOs that allow direct investment in fiat. Most accept bitcoin or Ethereum. ICOs operate on the “smart contract” principle of Ethereum, which means that when the currency is launched, investors in its private and pre-sale receive coins automatically in exchange for the coins they have invested.

When a coin launches, it does not automatically list on exchanges. This process takes time, according to the experts.

For most investors, ICOs have proven to be the most profitable ways to invest in the cryptocurrency market. According to the statistics, Ethereum was launched at the price of $ 0.314, with the return of investment going 2 years later to 340.000{b96076133fe2223c8d05470fe9428b3312879515b4c32f98bade61cbd4879fe1}.

The wallet is the first step to enter the world of cryptocurrency. This is an electronic wallet, and its access is via a code, which is the private key of the user. When you access an exchange and enter the private key of the wallet, it gets virtually online and becomes vulnerable to cyber-attacks.

Hardware developers have looked for solutions and thought of safer systems (e.g. Nano Ledger S – it works as a memory stick that stores the private key.) When you put this device in your computer, you can use the stored key to access the wallet, but it does not reach the online environment, which means it remains protected and not vulnerable to cyber-attacks).

If a user loses his private key, nobody can give him access to it, and that wallet will become inaccessible.

“Do not sell when the market is down. Then it’s time to buy, “is one of the main slogans of investors specializing in cryptocurrency.

Trading on the cryptocurrency requires primarily “emotion management,” a high dose of patience, risk tolerance, macroeconomic knowledge and technical analysis of graphs. Some specialists are of the opinion that chart analysis is important, but not as relevant as in the stock market, because volatility is much higher, and the market is more sensitive.