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.

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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.


Top 5 Uses Of Blockchain Technology You Must Know About

Blockchain has taken the digital world by storm. It all started with the need to find more impregnable solutions for e-finance but gradually made way to all other spheres of businesses. Blockchain technology makes use of electronic ledgers having time-stamped entries, totally irreversible and with decentralized control. All such qualities make blockchains a better choice for various other uses. Here are a few of the important ones.

1.Data analytics:

Big Data handling would be made easier with blockchains implementation. Clearer audit trails and no tampering with data make blockchains a suitable option for handling complex things like Big Data. The flexibility of adding shared data layer provides ample scope for AI integration, thus, making analytics process totally future-proof.

2. Web hosting:

More secure SSL, easily transferrable domains, encrypted data network and fast servers are some of the benefits that come with blockchain website hosting. The ability to deliver highly secure and fast sharable content can bring more quality to web hosting. HostCoin ICO (Initial Coin Offering) shows that the blockchains will become a part and parcel of hosting business in coming times.

3. E-commerce:

Cryptocurrency is the most known usable form of blockchain technology. The blockchains make financial transactions more secure, completely accountable and totally error-free, not to mention, easily traceable – all such features are essentialities of a successful e-commerce forum. Thus, e-commerce is going to find next big support in the form of this technology where there will be no room for error and each and every transaction will be fast as well as final, with no possibility of chargebacks and dispute settlements.

4. Distributed cloud storage:

Storage solutions using cloud can be enhanced more on flexibility quotient with the introduction of decentralized control as available in blockchains. A decrease in dependency and increase in security serve the purpose of using clouds more efficiently and help clouds deliver what they were actually designed for.

5. Smart contracts:

Terms sealed and signed in digital format, with no party able to denying anything once agreed upon will enable better accountability to creep into the business sphere.

The crispness of action and clarity of thought are two main requirements for making blockchains a real success. Thus, whatever field it is, practice these to ensure that you make use of blockchains in your favor and not for confusing yourself as well as others.