Cryptocurrency: The new sensation

The concept of cryptocurrency was created in 1991. However, the first real implementation was done in 2008 by Nakamoto. The first question arises, what is cryptocurrency. It is a financial setup in which the currency is transferred between the two parties. In the beginning, problems like double fault method arose, although the problem was subsequently solved by concepts like blockchain technology. The whole process is controlled by the cryptographic algorithms. A set of public and private keys is transferred between the two parties. The detail of each transaction is stored in each block and for each customer; a chain of blocks forms the complete list of transactions. All the blocks together form the block chain. These blockchains are nothing but the financial ledger. The power of this new currency transaction system depends on the power of cryptographic algorithm. With the implementation of algorithms such as DES, the confidentiality of every financial transaction (blockchain) has been strengthened. However, the concept has still not been approved by many countries. The data of each block cannot be changed retrospectively or without network consensus. The share of cryptocurrency is currently not that large, but over time it is expected to rise.
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Some of the features of cryptocurrency are:

• Decentralized

• Distribute

• Public ledger

The most important aspect of cryptocurrency is the above, but technology requires security for effective use. Problems such as duplicate errors have occurred in the past, but that problem has now been resolved. The biggest advantage of cryptocurrency is its update function without touching the central server. We therefore do not need to make any changes to the server. The transaction can also be done between any two members of the network or three or more.

Several benefits that you gain through the cryptocurrency are as follows:

• Safe

• Fast

• Reliable

• Accurate

However, the technology has evolved even though it is not accepted by all countries. The biggest sensation in cryptocurrency is the bitcoin. This is accepted by many countries. Similarly, you can find many more types of cryptocurrency. Each of them uses a unique type of algorithms. You can learn them all through cryptography. This is a major topic and its application in the form of cryptocurrency is one of the major breakthroughs of the past decade. The use can certainly increase fourfold in the coming years.
Digital currency is also used as part of dubious institutions such as online illegal businesses, for example Silk Street. The first Silk Street was closed in October 2013 and two more forms have been used since then. In the year following the underlying shutdown of Silk Street, the number of unmistakably dull markets expanded from four to twelve, while the rate of medication placements expanded from 18,000 to 32,000.

Darknet markets show challenges regarding legality. Bitcoins and various types of digital money used as part of dull markets are not clearly or legally ordered in all parts of the world. In the US, bitcoins are referred to as “virtual resources”. This kind of dubious arrangement puts weight on law enforcement agencies around the world to adapt to the moving drug exchange of dull markets


What is Monero?

Monero is an open source cryptocurrency project with better security and privacy than most virtual currencies. It is designed to give everyone the power to control their finances without the supervision of government and financial agencies. The cryptographic techniques used ensure that a spy has no knowledge of your transactions.
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Who created Monero?
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Monero is largely a community project with no single individual behind it. More than 240 specialists, consisting of developers and marketers, came together and breathed life into it. However, about 30 developers are known. Anyone can contribute to this network by donating either their skills or capital.
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Monero does not have a base in any country. Therefore, it can be difficult to close it or to restrict it from working in a certain country. However, you should not be so sure about this, as China and South Korea have already proven that any cryptocurrency can be dissolved to work in certain jurisdictions. China officially banned ICOs from working a few months ago.
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Monero Security Features

Without a doubt, Monero Blockchain is one of the safest places to do transactions. Ethereum and Bitcoin Blockchains are transparent so anyone can verify the authenticity of a transaction. This means anyone with excellent computer skills and resources can easily decode users’ true identities. This is extremely disgusting as it goes against the main principle behind decentralized projects, which obscure users’ details.
Monero’s cryptographic techniques betray the user’s data making it impossible for data snoopers to obtain anything. The two main security protocols used are ring signatures and stealth addresses. The former mixes all the addresses on the network and thus makes it difficult for an external observer to link a single address to a certain account.
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The latter refers to a state where an address is used for a single transaction only. There can be no single address for two or more transfers. Used addresses are undetectable, and new ones are created during the next transaction. In short, all the details regarding the sender, receiver and amount transferred are not open for investigation. However, this network is not completely “closed”, as individuals can choose who can view their transactions.
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Benefits of Monero

• Private, secure and undetectable
• Scalable with no blockchain limits
• Strong and capable team
• Widely accepted
• Have a plan to encourage miners to maintain the blockchain even when stocks run out
• Selectively transparent – you choose who to see your transactions

Disadvantages of Monero

• Has few levels of centralization
• Not yet widely accepted

The future of Monero
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Decentralized technologies are currently receiving a lot of hype, and that simply means wide recognition. As technology is widely adopted and governments try to capture users’s, investors are going to demand more privately-oriented cryptocurrencies, and that could put Monero just at the top of the list. This currency is definitely worth giving a try.
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Which cryptocurrencies are good to invest in?

This year, the value of Bitcoin has skyrocketed, even past one gold ounce. There are also new cryptocurrencies on the market, which is even more surprising bringing the value of cryptocurrencies to over one hundred billion. On the other hand, the long-term outlook for cryptocurrency is somewhat bleak. There is controversy over lack of progress among its core developers that makes it less attractive as a long-term investment and as a payment system.

Still the most popular, Bitcoin is the crypto-currency that started it all. It is currently the largest market capitalization of about $ 41 billion and has been in existence for the past 8 years. Bitcoin has been widely used around the world and so far it has not been easy to exploit weakness in the method it works. Both as a payment system and as a stored value, Bitcoin enables users to easily receive and send bitcoins. The concept of the blockchain is the basis on which Bitcoin is based. It is necessary to understand the blockchain concept to get an idea of ​​what the cryptocurrencies are all about.
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To put it simply, blockchain is a database distribution that stores every network transaction as a piece of data called a “block”. Every user has blockchain copies, so when Alice sends 1 bitcoin to Mark, every person on the network knows it.


One alternative to Bitcoin, Litecoin tries to solve many of the problems that repress Bitcoin. It’s not quite as resilient as Ethereum, with its value coming mainly from the acceptance of solid users. It’s worth noting that Charlie Lee, former Googler Litecoin leads. He also exercises transparency with what he does with Litecoin and is quite active on Twitter.
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Litecoin has been Bitcoin’s second fiddle for some time, but things started to change early in the year of 2017. First, Litecoin was adopted by Coinbase along with Ethereum and Bitcoin. Litecoin then resolved the Bitcoin issue by adopting the technology of Segregated Witness. This gave him the ability to lower transaction fees and do more. The deciding factor, however, was when Charlie Lee decided to place his only focus on Litecoin and even left Coinbase, where he was the Engineering Director, just for Litecoin. As a result, the price of Litecoin has risen over the past few months, with the strongest factor being that it could be a real alternative to Bitcoin.
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Vitalik Buterin, superstar programmer, invented Ethereum, which can do everything Bitcoin can do. However, its purpose is primarily to be a platform for building decentralized applications. The blockchains are where the differences between the two lie. Basically, the Bitcoin blockchain records a type of contract, one that indicates whether funds have been moved from one digital address to another. However, there is significant expansion with Ethereum, as it has a more advanced language script and a more complex, broader scope.
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Projects started popping up on top of Ethereum when developers started noticing its better features. Through signs of crowd sales, some have even raised millions of dollars and this is still a continuing trend to this day. The fact that you can build amazing things on the Ethereum platform makes it almost like the internet itself. This caused a price increase, so if you bought a hundred dollar Ethereum earlier this year, it would not be worth nearly $ 3000.


Monero seeks to resolve the issue of anonymous transactions. Even if this currency is considered a method of laundering money, Monero intends to change it. Basically, the difference between Monero and Bitcoin is that Bitcoin has a transparent blockchain with every transaction that is public and recorded. With Bitcoin, anyone can see how and where the money has been moved. However, there is somewhat imperfect anonymity on Bitcoin. In contrast, Monero has an opaque rather than transparent transaction method. No one is completely sold on this method, but since some people like privacy for whatever purpose, Monero is here to stay.


Unlike Monero, Zcash also seeks to solve the problems that Bitcoin has. The difference is that rather than being completely transparent, Monero is only partially public in its blockchain style. Zcash also seeks to address the issue of anonymous transactions. After all, not every person likes to show how much money they actually spent on memorabilia by Star Wars. The conclusion is therefore that this type of cryptocurrency really has an audience and a demand, although it is difficult to point out which cryptocurrency that focuses on privacy will eventually come out on top.


Also known as a “smart token,” Bancor is the new generation standard of cryptocurrencies that can hold more than one token in reserve. Basically, Bancor aims to make it easy to trade, manage and create tokens by increasing their level of liquidity and giving them a market price that is automated. Right now, Bancor has a product up front that includes a wallet and the creation of a smart token. There are also features in the community such as statistics, profiles and discussions. In a nutshell, Bancor’s protocol enables the discovery of a built-in price as well as a liquidity mechanism for smart contractual tokens through an innovative reserve mechanism. By smart contract, you can liquidate or buy any of the tokens immediately in the Bancor reserve. With Bancor, you can easily create new cryptocurrencies. Now who does not want it?


Another competitor of Ethereum, EOS promises to solve the scale issue of Ethereum by providing a set of tools that are more robust to run and create applications on the platform.


An alternative to Ethereum, Tezos can be upgraded with consent without too much effort. This new blockchain has been decentralized in the sense that it is self-governing through the establishment of a digital true community. It facilitates the mathematical technique called formal verification and has security-enhancing features of the most financially weighted, sensitive smart contract. Definitely a great investment in the months to come.


It’s incredibly difficult to predict which Bitcoin will be the next superstar on the list. However, user adoption has always been one key success factor when it comes to cryptocurrencies. Both Ethereum and Bitcoin have it and even though there is a lot of support from early adopters of every cryptocurrency in the list, some still need to prove their endurance. Nevertheless, these are the ones to invest in and pay attention to in the coming months.

Hyperledger in the Blockchain world. What makes it different from other solutions?

Surely everyone has heard the words Ethereum and Bitcoin. As part of the blockchain world, they have attracted the world’s attention through widespread media coverage. In general, blockchain technology has gained business interest because of its decentralized, unchanging, and transparent nature. Among other notable projects that have emerged over the past few years is Hyperledger.

What is Hyperledger?

Hyperledger is an open source project of blockchains and related tools offered by the Linux Foundation. It was created in 2015 and aimed to advance cross-industry blockchain technologies. Hyperledger does not support cryptocurrencies and does not represent a cryptocurrency network or a traditional blockchain system.

So what is Hyperledger for? The project aims to facilitate developers, and enterprises are working on the adoption of blockchain. It provides the necessary standards and infrastructure to develop and implement blockchain solutions in various industries.

Hyperledger’s structure in depth

The Hyperledger project can be visualized as a home with open source development tools and libraries as a foundation, and modular frameworks right under the roof.

One of the widely used digital ledgers is called Hyperledger Fabric. It is an authorized blockchain infrastructure that serves as a basis for building applications or solutions with a modular architecture.

Hyperledger Besu is an Ethereum client designed for corporate use for both public and private use cases of authorized networks. The following framework Hyperledger Burrow runs on smart contracts and represents a complete single-binary blockchain distribution that supports EVM and WASM.

Hyperledger Indy can work autonomously or even work with other blockchains. Indy was developed for decentralized identities. Another easy-to-use modular distributed platform is called Hyperledger Iroha. The framework includes a role-based consent model and multi-signature support. Iroha is adapted for digital asset management systems and is used to manage identity and serialized data. As part of a Hyperledger system, there is also no cryptocurrency presence here.

The digital ledger Hyperledger Sawtooth offers a modular architecture where smart contracts can specify business rules for applications without knowing the underlying design of the system. Sawtooth uses the Python programming language, which facilitates the implementation and maintenance of the final software.

Hyperledger applications compared to other enterprise solutions

Let’s look at the differences between traditional web portals and blockchain based solutions. The former do not have speed, security and traceability, while blockchain offers high speed of transactions and enhanced security provided by smart contracts and encryption. As for Hyperledger dApps in particular, they stand out for their ability to handle complex business processes within a matter of hours.

When it comes to blockchain solutions without permission and Hyperledger applications being allowed, there are several major differences. Unauthorized blockchain solutions imply no regulation, allow anonymous cryptographic identities, and generally represent public systems on a shared ledger. The counterfeit tracking is code based and transactions are impossible to change.

Hyperledger applications are both public and private systems where workflows are monitored by regulators. Hyperledger application participants are genuine and identifiable, transaction identities are also traceable.

Overall, Hyperledger guarantees tamper-free data exchange and cryptographic validation of contract terms and operations. A toolkit is rich in platforms and frameworks that can be selected according to the business specifications. Ultimately, implementing the solution will help consolidate databases, improve performance and scalability, reduce fraud risks, protect sensitive data, and streamline ROI.

Industries ready for Hyperledger adoption

Hyperledger has already entered several spheres, such as supply chain management, retail, healthcare, FinTech, IoT, banking and manufacturing. Among companies using the technology are Walmart, Amazon, Nestle, Visa, Maersk, Postal Savings Bank of China and others.

To start your business innovation through Hyperledger adoption, you need to choose a competent Hyperledger development company that will design a custom solution to address your business challenges.

Guide to successfully trading the major cryptocurrencies

Trading cryptocurrencies has taken the world by storm and this is what has become the norm for the majority of traders and investors. If you are eager enough to do your research before you trade, you stand a chance to enjoy real growth and profit in the end. The worst thing you can do when it comes to this type of trading is to go blindly into it simply because that’s what everyone else is doing. A little research on the major currencies and going deep into the basics of buying and trading can make a big difference. Below are some guidelines that will push you to success with your trade.

Take time to understand how the blockchain works

Blockchain technology has redefined transactions and it changes everything. Blockchain can be defined as a list of records that is constantly growing into blocks that are secured and linked with cryptography. The blockchains are resistant to data modification and serve as a public transaction ledger between parties. The transparent and decentralized nature of blockchain makes it very safe and in the world of hacking it is truly functional and reliable. It solves manipulation problems that have become so apparent in the world today. While no single person can claim to understand everything that blockchain is, learning a few basics will give you a much easier time trading.

Know and learn the top currencies

The virtual currency space becomes overcrowded due to how popular the currencies have become. The fact is that today there are more than 100 cryptocurrencies, which means you need to know which one is top and popular so that you can choose your buy and sell properly with profitability in mind. Bitcoin accounts for half of the entire market with the highest volume, but Litecoin and Ethereum are also top notch and give Bitcoin a run. Find out as much as possible about the currency in which you are interested. The more you know, the better off you will be at making decisions; you can actually manage to trade more than one cryptocurrency without any challenge.

Note the inherent risks

Bitcoin and other currencies are fairly volatile, even when compared to the stock market and gold. Remember that this is another technology in its early days and it faces many challenges. The profit probabilities are quite high, but so are the risks. Public sentiment about a currency can actually affect its prices. What goes up will definitely come down, so be careful with the trading movements you make. The higher the risks, the higher the rewards can be, but also be prepared for losses. The best thing you can do, regardless of the cryptocurrency you choose, is to keep an eye on events that can affect prices and act quickly.

Once you know everything that matters in cryptocurrency trading, you can then go ahead and open a brokerage account and fund it, then you can start buying and selling the currencies. The rewards are numerous for avid traders.

Blockchain: Open Source Money

“Blockchains are simply distributed transaction processing engines. The technology allows data to be stored in a variety of different locations, while tracking the relationship between different parties to that data. Most people who try to explain blockchains like to compare it to a ledger. Any time someone makes a transaction, such as a currency changing hands or a new device being added to a network, it is recorded in the chain and anyone can track what happened.That’s why law enforcement is so eager for Bitcoin – the digital footprints are easy to track. “ Fortune tech, Stacey Higginbotham, May 29, 2015

What if we lived in a world where global access to money was available to all? With the speed of digital around the world, money can zoom in as a peer-to-peer decentralized and collaborative process – no top-down banking system needed. Trust relationships happen automatically through digitally signed, unauthorized transactions, destroying the inevitability of poverty. Would that represent a giant step for humanity?

This is the utopian dream of technology developers. The next generation of computer networks is getting ready to surround the world for good. Welcome to the planned blockchain (financial) transformation of the world.

Ignore it at your own risk.

My May 2016 article, The power behind the throne, discusses the mostly underreported, yet steady progress, toward a cashless society via blockchain technology, and my thoughts on who really benefits. It could end up as the giant leap for the banking industry, to gain almighty control over our financial transactions. A Bloomberg article, Inside the secret meeting where Wall Street tested digital cash, May 2, 2016, cited representatives of Nasdaq, Citigroup Inc., Visa Inc., Fidelity, Fiserv Inc., Pfizer Inc. and others who were present.

Enter 2017 and the documentary produced to inspire and excite: The Blockchain and Us. Some say that 2017 will be the year that this technology moves into the mainstream; others say it’s just too risky.

The information-advertising-type documentary introduces “leaders” from countries around the world who glorify the virtue of open source money, the grassroots level, and the upside-down cultural game changer launched by Bitcoin in 2008. Blockchain technology and its potential impact are compared to how the launch of the aircraft has changed society; the structure of the financial services industry alone, is said to transform 100% to digital within 20 years. In addition, blockchain technology is expected to:

  • Influence each industry as a “value” platform with military grade cryptology
  • Create a generational shift in technology, an opportunity capable of “lifting people out of poverty”
  • Accommodate what they called “smart” contracts
  • Make a profound shift in how the Internet can be used to create new forms of value and new ways of trading value
  • Generate more jobs as a result of automation

There you have it … Blockchain and us. But no-seers, like me, cannot see the proportionate personal benefit. Does the meager financial privacy we have left over to the Goliath banking industry through cash? It occurs to me that we may not have a choice, since the “small” people are apparently the income units that are simply together for the ride.

That said, using cash and paying as you go has obvious and perhaps not-so-obvious benefits:

  • Choice
  • Transaction privacy
  • No bank interest charges (bank overdrafts, credit cards, loans, credit lines, etc.)
  • Possible 5% seller discount on request
  • Fiscal liability that destroyed credit usage
  • Limiting the instant gratification mindset encourages easy credit
  • More personal time when dealing with debt means working harder / faster

I think life in a material world makes it easy to forget that the full definition of wealth includes more than accumulation. The intangible wealth of personal well-being and peace of mind is invaluable until it is overlooked and undervalued. Instead of the utopian dream, imagine it: We no longer make purchases that we do not need, with money we do not have to impress people who do not really care about us. If more people would make a habit of using cash, we could strengthen our own money management skills to build real wealth, and also send a message to those who own the gold.

Blockchain’s impact on our daily interactions and exchanges

Today, trust is the basis of many of our everyday interactions and exchanges. We put money in a bank with the confidence that it is safer there. We give information to each other on the basis that they will not share it with anyone else without prior permission. We also put a lot of trust in pieces of paper – money, land records, transaction information, etc. But these pieces of paper can be easily stolen, forged or altered. As we move toward computerizing information these days, data can still be easily hacked and leaked.

Blockchain is a series of records or data distributed through a network of computers so that no central computer or database contains the information, instead each computer contains the data that makes it a fully transparent system. Why blockchain is so impressive is due to its unbreakability. Each exchange, transaction or record entered into a database is time stamped and verified by a large group of trusted computers before being placed as a block in a chain of various other exchanges, transactions or records. Once entered, the information “block” can not be changed or deleted, because it means that the chain on all the computers must be changed or deleted at the same time, which is almost impossible.

The social impact that blockchain technology can have is tremendous and can be implemented to address many of the issues facing the world today in a variety of areas. In most developing countries, agriculture contributes a large part of their GDP; yet many farmers suffer from a lack of money, a lack of land and a lack of various resources needed for farming. Even if a farmer owns a large piece of land, it is often recorded incorrectly. Property titles also tend to be susceptible to fraud, as well as expensive and labor intensive to administer. Blockchain can be implemented to digitize land and farmers will no longer have to fear someone hacking the database and committing land ownership fraud as all types of record keeping will become more efficient.

The technology will not only tell you who currently owns the land, but it can also tell you who previously owned the land, making it extremely simple to track the title chain. Blockchain can correctly update the records of what portion of the land belongs to which person and how much of that land was produced, enabling farmers to get the correct amount of funding needed.

Among many other areas, blockchain technology can contribute to the healthcare sector. Maintaining public health records is a constant issue in many countries with its inaccessibility to doctors and patients. By creating a decentralized ‘ledger’ of medical data, we are able to remove the paper trail in healthcare and make patients’ medical records available to patients and doctors easily and efficiently. It also eliminated the fear that the medical files would be lost. Such a change is not only convenient, but essential where doctor-patient confidentiality becomes increasingly important.

Currently, blockchain is mainly used in finance. Blockchain can accurately record the transfer between people, and because every transfer is minimal to no cost, it has the potential to disrupt today’s financial organizations that make money by charging a fee for every transaction or transfer made. This makes what is called a peer-to-peer network, where a third party is not required for a transaction to take place.

In the financial world, what this means is that if a person wants to buy something, usually the bank and the place / premises from which you buy, a fraction of what you pay will take. And because there is no fee for a transaction in blockchain or the transaction fee is small compared to the transaction value, most if not all of the money goes directly to the creator or distributor of the product.

The same logic can be applied to the music industry. In fact, it is already being implemented today. Rather than buying a song through a streaming service like Apple Music or Spotify, they will pay the artist directly and obtain the rights to listen and use the music. This eliminates the need for a ‘middleman’ and makes each transaction only between 2 entities.

These are just a few examples of where blockchain can be used to completely change the way things used to be, which is essentially changing our lives, the economy and our world. Blockchain is a versatile technology that can be applied in one way or another to almost every business sector. An exciting technology that can change society for the better; a change that is not only convenient, but essential.