zonafintech
Pages

Birdlance Airdrop - Get Free 1000 BLNC Tokens (~ $10)

 
Birdlance Airdrop - Birdlance has the ambition to become one of the best marketplaces for images, illustrations and artwork while also protecting the intellectual property of Photographers and Graphic Designers by being able to prove authorship and report any copyright infringement using Blockchain technology, Computer Vision and Reporting unsolicited use.

Birdlance Airdrop

Birdlance is conducting an airdrop program to promote their project before IEO begins. Every participant who takes part in the Birdlance airdrop program will get 1000 BLNC tokens worth $ 10 for free. What are the requirements and how to claim Birdlance airdrop? see the explanation below!

Requirements Birdlance Airdrops
  • Email address
  • Telegram
  • Facebook
  • Twitter
How to Claim Birdlance Airdrops
Note: After you complete all the Airdrop tasks, you will get 1000 BLNC tokens worth $ 10 for free.

Ten Billion Coin Airdrop - Free 3000 YBY Tokens (~ $ 15)

 
Ten Billion Coin Airdrop - Ten Billion Coin is a new blockchain designed to empower Chinese industries who want to harness the power of distributed ledger technology to implement a fair platform where all transactions are recorded and opened. This will enable existing companies to take advantage of this technology to provide transparent financial reports, supply chain management, authentic product verification, customer use and satisfaction reports, etc.

 Ten Billion Coin is not trying to reinvent the wheel on the blockchain, but is helping existing companies apply the benefits of the blockchain to their current business model to build stronger communities around their products or services through greater transparency. The aim of Ten Billion Coin is to help companies integrate blockchain technology as a tool for their business in the same way as internet integration began in the 90s.

Ten Billion Coin Airdrop

Ten Billion Coin is conducting an airdrop program to promote their projects. Every participant participating in Ten Billion Coin's airdrop program will get 3000 YBY tokens worth $ 15 for free. What are the requirements and how are Ten Billion Coin airdrop claims? see the explanation below!

 Ten Billion Coin Airdrop Requirements
  • Email address
  • Telegram
  • Instagram
  • Facebook
  • Youtube
  • Ethereum Wallet
How to Claim Ten Billion Coin Airdrop
Note: You will get 3000 YBY tokens worth $ 15 after completing the airdrop task above.

Auditchain (AUDT Token) Review - Decentralized Audit and Financial Report

 
Auditchain (AUDT Token) Review -
Audit words are more often and tend to cause anxiety and stress in a company or an organization. That's because a review is an examination of the company's finances and whether they do use the right standards to produce their numbers.

 However, there are significant weaknesses in the current audit system with its security, as well as the existence of fraud that makes a bad percentage of the audit. But some companies or organizations find that the use of blockchain technology can be useful in providing accountability in the audit process. As a digital ledger, the blockchain allows a transparent and secure data management distribution structure.

What is Auditchain?
Auditchain is a platform for auditing (accounting checks) as well as accounting and ecosystem direct financial reporting for companies whether it's business or decentralized individuals. The Auditchain platform will combine open source portals for smart contracts that enable the capture, process, reports and audit of business data and performance through continuous independent audit standards.

 Decentralized audit systems will use the DCARPE protocol to give company data reports to shareholders' reports in an authentic and real-time manner.

Auditchain Key Features


 By becoming the first decentralized financial audit and reporting platform, Auditchain has three main features on its platform:

  1. Access and Service Network Auditchain: The network will consist of payment rules and services for auditing and automation of disclosures.
  2. Payments with AUDT tokens: Auditchain Tokens (AUDT) will be the main platform exchange method for services. Companies will experience low prices with their participation in the AUDITCHAIN ​​platform.
  3. Premium Guarantees for StakeHolder: Every stakeholder will have the opportunity to experience the highest level of transparency and control over their financial performance in real time.

Auditchain Platform Protocol


 The main protocol of the Auditchain platform relies heavily on the use of smart contracts to record or report various types of data. DCARPE (Decentralized Continuous Audit and Report Protocol System) will cover several balance sheets, income statements, and return forms, all in real-time.

 The concept of a sustainable audit will provide audit assurance stakeholders using Auditchain's public reporting console. If a console review and internal reporting is needed, use Audit Analytics to audit the data provided and provide results. Depending on the type of audit that requires, the console conveys results through various network nodes.

Benefits of Using the Auditchain Platform
The auditchain platform has enormous benefits whether it's a company or an organization. By using an auditchain platform that has consensus governance, it will allow many users to access information in real time without the risk of data violations, hacking, or manipulation. In addition, transparent transactions can be seen from a continuous audit feature that allows to audit and record open-source business information available for review by each member.

 Another benefit of the auditchain platform is Automatic Audit. Automated Audit further facilitates real-time recording, validation, and verification of data through smart contracts. The Automatic Audit feature enables rapid recovery of information that will take the services of a professional auditor. And the last benefit of the auditchain platform is Real-Time Audit Data Analysis, which will execute commands to check data and provide results through previously configured conditions set by the platform.

AUDT Token


 AUDT is a digital currency or utility token that will be used by users to pay for implementation, smart contract deployment, transaction validation, ongoing audits and company expansion. The AUDT Token is an ERC20 standard token developed based on the blockchain ethereum. In addition, AUDT token holders will have the right to access and use services from the Auditchain network. The AUDT Token will also be used to be associated with a digital identity application that will identify each company user and every Federation Node operator.

Conclusion


 Auditchain has concepts and innovations that have high potential in the future. Because auditchain is the audit platform that first used blockchain technology. In addition, Auditchain seems to have a platform that will provide audit services more cheaply and conveniently.

 Using blockchain technology, Auditchain's goal is not only for audit services or financial reports, but also provides data protection services. As such, AuditChain has the opportunity to occupy the first position and push us into a new trust economy.

 The information above is just a small part, you can read more details about Auditchain by reading the whitepaper and visiting the official AuditChain website and following their social media.

 Reference:
1. https://auditchain.com
2. https://auditchain.com/Auditchain-Whitepaper.pdf
3. https://www.indonesiaportalico.com/2019/07/auditchain-platform-audit-dan-laporan-terdesentralisasi.html

What is Ethereum? Who is the Creator of Ethereum? Beginner's Guide 2019

 

Ethereum is a distributed, open source, Blockchain based software platform that allows developers to build and use decentralized applications.

What is Ethereum?


 To understand Ethereum fully, what it does and how it has the potential to impact our society, it is important to learn what its core properties are and how they differ from the standard approach.

 First of all, Ethereum is a decentralized system, which means it is not controlled by a single regulatory entity. The absolute majority of online services, businesses and companies are built on a centralized system of government. This approach has been used for hundreds of years, and while history proves many times that it is flawed, its implementation is still needed when the parties do not trust each other.

 The centralized approach means the control of a single entity, but it also means a single point of failure, which makes applications and online servers utilizing this system very vulnerable to hacker attacks and even power outages. In addition, most social networks and other online servers require users to provide at least some level of personal information, which is then stored on their servers. From there, it can be easily stolen by the company itself, bad workers or hackers.

 Ethereum, which is a decentralized system, is fully autonomous and is not controlled by anyone. It has no central point of failure, because it is run from thousands of volunteer computers throughout the world, which means it can never be offline. In addition, the user's personal information remains on their own computer, while content, such as applications, videos, etc., remains in full control of the creator without having to comply with the regulations imposed by hosting services such as the App Store and YouTube.

 Secondly, it is important to understand that even though it is constantly compared to each other, Ethereum and Bitcoin are two completely different projects with completely different goals. Bitcoin is the first cryptocurrency and money transfer system, built and supported by distributed public ledger technology called the Blockchain.

 Ethereum takes the technology behind Bitcoin and substantially broadens its capabilities. This is the entire network, with its own Internet browser, coding language, and payment system. Most importantly, this allows users to make decentralized applications on the Blockchain Ethereum.

 These applications can be entirely new ideas or decentralized reworking of existing concepts. This basically cuts off the intermediaries and all costs associated with the involvement of third parties. For example, the only benefits that come from users who like and share their favorite music posts on Facebook are generated from advertisements placed on their pages and directly to Facebook. In Ethereum's version of such social networks, both artists and viewers will receive awards for positive communication and support. Similarly, in the decentralized version of Kickstarter, you will not get only a few artifacts for your contribution to the company, you will receive a share of the company's future profits. Finally, Ethereum based applications will delete all types of payments to third parties to attract all types of services.
In short, Ethereum is a distributed, open source, Blockchain based software platform that allows developers to build and use decentralized applications.

 As mentioned earlier, Ethereum is a decentralized system, which means using a peer-to-peer approach. Every single interaction takes place between and is only supported by users who take part in it, without involving the controlling authority.

 The whole Ethereum system is supported by a global system called 'node'. Vertices are volunteers who download the entire Blockchain Ethereum to their desktop and fully enforce all system consensus rules, keep the network honest and receive rewards in return. .

 These consensus rules, as well as many other aspects of the network, are determined by 'smart contracts.' It is designed to automatically carry out transactions and other specific actions on the network with parties that you do not need to trust. Requirements to be met by both parties have been programmed in the contract. The completion of these requirements then triggers transactions or other specific actions. Many people believe that smart contracts are the future and will eventually replace all other contractual agreements, because the adoption of smart contracts provides superior security than traditional contract law, reducing transaction costs associated with contracts and building trust between two parties.

 In addition, this system also provides users with Ethereum Virtual Machine (EVM), which basically functions as a runtime environment for smart contracts based on Ethereum. This gives security users to execute untrusted code while ensuring that the program does not interfere with each other. EVM is completely isolated from the main Ethereum network, which makes it the perfect sandbox tool to test and improve smart contracts.

 This platform also provides cryptocurrency tokens called 'Ether.'

Who is the Creator of Ethereum?


In late 2013, Vitalik Buterin described his idea on white paper, which he sent to several friends, who then sent it further. As a result, around 30 people reached out to Vitalik to discuss the concept. He was waiting for critical reviews and people showed critical errors in the concept, but that never happened.

 This project was announced publicly in January 2014, with a core team consisting of Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, Charles Hoskinson, Joe Lubin and Gavin Wood. Buterin also presented Ethereum on stage at the Bitcoin conference in Miami, and only a few months later the team decided to hold a crowdsale from Ether, the original network token, to fund development.

Is Ethereum a cryptocurrency?


 By definition, Ethereum is a software platform that aims to act as a decentralized Internet as well as a decentralized application store. A system like this requires a currency to pay for the computing resources needed to run an application or program. This is where 'Ether' comes into play.

 Ether is a digital carrier asset and does not require a third party to process payments. However, it not only operates as a digital currency, it also acts as a 'fuel' for decentralized applications in the network. If the user wants to change something in one of the applications in Ethereum, they must pay a transaction fee so that the network can process the changes.

 Transaction costs are automatically calculated based on how much 'gas' an action requires. The amount of fuel needed is calculated based on how much computing power is needed and how long it will take to walk.

Is Ethereum like Bitcoin?


Ethereum and Bitcoin may be similar in terms of cryptocurrency, but the reality is they are two very different projects with totally different goals. While Bitcoin has established itself as a relatively stable and most successful cryptocurrency to date, Ethereum is a multipurpose platform with Ether digital currency that is only a component of the application of its smart contract.

 Even when comparing aspects of cryptocurrency, the two projects look very different. For example, Bitcoin has a limit of 21 million Bitcoins that can be made, while the potential for Ether supply is virtually endless. In addition, the average mining time for a blockcoin is 10 minutes, while Ethereum aims at no more than 12 seconds, which means confirmation is faster.

 The other main difference is that currently successful Bitcoin mining requires enormous computing and electricity power and is only possible when using industrial scale mining. On the other hand, the Ethereum proof-of-work algorithm encourages mining to be decentralized by individuals.

 Perhaps the most important difference between the two projects is that the internal code of Ethereum is complete Turing, which means that everything can literally be counted as long as there is enough computing power and time to do it. Bitcoin does not have this capability. While the complete Touring code gives users Ethereum the possibilities are practically unlimited, the complexity also means potential security complications.

How does Ethereum work?


 As mentioned earlier, Ethereum is based on the Bitcoin protocol and the Blockchain design but is tweaked so that applications outside the money system can be supported. The only similarity to Blockchains is that they store all transaction history from their respective networks, but the Blockchain Ethereum is far more than that. In addition to transaction history, each node on the Ethereum network also needs to download the latest status, or the latest information, from every smart contract in the network, the balance of each user and all smart contract codes and where they are stored.

 Basically, Blockchain Ethereum can be described as a transaction-based status engine. When it comes to computer science, a state machine is defined as something that is able to read a series of inputs and transitions to a new state based on that input. When a transaction is executed, the machine transitions to another country.

 Every situation in Ethereum consists of millions of transactions. The transactions are grouped to form 'blocks,' with each and every block chained together with the previous blocks. But before a transaction can be added to a ledger, it needs to be validated, which goes through a process called mining.

 Mining is the process when a group of nodes applies their computing power to complete the challenge of 'proof of work', which is basically a mathematical puzzle. The stronger their computers are, the faster they can solve the puzzle. The answer to the puzzle itself is proof of work, and it guarantees block validity.

 Many miners around the world compete with each other in the effort to create and validate blocks, because every time the miners prove the new Ether token block is generated and given to the miner. Miners are the backbone of the Ethereum network, because they not only confirm and validate transactions and other operations on the network but also generate new tokens from network currencies.

What is Ethereum used for?


 First and foremost, Ethereum allows developers to build and use decentralized applications. In addition, each centralized service can be decentralized using the Ethereum platform. The potential of the Ethereum platform to build applications is not limited by anything other than the creativity of creators.

 Decentralized applications have the potential to completely change the relationship between the company and their audience. At present there are many services that charge commission fees for only providing escrow services and platforms for users to trade goods and services. On the other hand, Blockchain's Ethereum can allow customers to track the origin of the products they buy, while the adoption of smart contracts can ensure safe and fast trading for both parties without intermediaries.

 Blockchain technology itself has the potential to revolutionize web-based services and industries with long-established contract practices. For example, the insurance industry in the US has more than $ 7 billion in life insurance money, which can be redistributed fairly and transparently using the Blockchain. In addition, with the adoption of smart contracts, clients can easily send their insurance claims online and receive instant automatic payments, considering their claims meet all the required criteria.

 Basically, Blockchain Ethereum is able to carry out its core principles - trust, transparency, security and efficiency - into any service, business or industry.

 Ethereum can also be used to create a Decentralized Autonomous Organization (DAO), which operates entirely transparently and is independent of any intervention, without a single leader. DAO is run by a programming code and a collection of smart contracts written on the Blockchain. This is designed to eliminate the needs of a person or group of people in a complete and centralized organizational control.

 DAO is owned by people who buy tokens. However, the number of tokens purchased does not equalize shares and equity ownership. Instead, tokens are contributions that give people the right to vote.

How to get Ethereum?


 There are two main ways to get Ether: buy and mine.

 The most common way and perhaps the most convenient way to buy Ether is to buy it on the stock. All you need to do is find an exchange that trades on Ether and operates within your jurisdiction, arranges accounts and uses one of your bank accounts, wire transfers or in some cases even your bank card to buy Ether tokens. They then need to be stored in the wallet, which can be provided by the exchange itself, the original Mist Ethereum browser or by various other special services.

 Alternatively, you can get Ether through peer-to-peer trading, pay it with any agreed-upon currency, including Bitcoin and other digital currencies. This can be done online and directly. Peer-to-peer trading is rather popular among Bitcoin users. However, because the Ether token inventory is almost unlimited and the Ethereum platform does not place complete user anonymity at the front of the system, Ether is usually obtained through exchange.

 Another way to get Ether tokens is to mine them. Mining Ethereum uses proof of work, which means that miners donate their computing power to solve complex mathematical problems to 'seal' and confirm blocks of action in the network. Miners who successfully complete this task receive prizes for each block mined.

What Is A Blockchain? How does the Blockchain work? Full Review of Blockchain

 

What Is A Blockchain? - Blockchain technology is changing industries throughout the world. This brings organizations, governments, financial institutions and payment platforms to the new digital era. It revolutionized everything around us - but many people don't know what a blockchain is or how blockchain technology works.

 Today, we are explaining the core things you need to know about blockchain and blockchain technology. This guide will continue to grow but we want to keep it as short as possible, but for anyone to learn anything from beginners to ninjas, the context must be owned. If we can say as few words as possible, it won't exist at all and only use Satoshi's words:

  • Nodes collect new transactions into blocks, haveh them into hash trees,
  • and scan through nonce values ​​to have satisfactory proof-of-work hashes
  • Requirements. When they broke the proof of work, they broadcast the block
  • for everyone and blocks added to the block chain. First transaction
  • on the block is a special coin that creates new coins owned by the maker
  • from the block.

So if only that is needed to understand (and finally you will know what the datachunk block chain actually is) what is the ledger technology distributed by blockchain, we will end it here, but don't really enjoy our 2018 what is the blockchain guide for each and all.

What is a Blockchain?


 The Blockchain is an open ledger that can efficiently record transactions between two parties in a permanent, verifiable manner. Blockchain is a technology in the heart of bitcoin and other cryptocurrency. Without blockchain, cryptocurrency will not exist in their modern form.

Why is Blockchain Technology Very Important?


 Contracts, transactions, and records have long played an important role in our modern world. Our legal and political systems rely on contracts and transactions for almost every core function.

 Contracts, transactions, and records are used to protect assets or set organizational boundaries. They are used to verify identity or chronic events.

 Every day, the world around us is governed by contracts and transactions. However, the way we record these contracts and transactions has stalled in the past. These important tools do not follow the digital revolution.

 As explained by one of the articles in the Harvard Business Review, "They are like rush hour jams trapping Formula 1 racing cars." The article further explained that, "In the digital world, the way we regulate and maintain administrative control must change."

 That is why many companies are trying to apply blockchain technology to various industries - the potential for profits is enormous.

Blockchain Can Eliminate the Need for Lawyers, Brokers & Bankers


 Think about the importance of this blockchain: most of the world's infrastructure consists of intermediaries - or intermediaries.

 We are not just talking about intermediaries such as businesses that take profits to sell goods or services.

 We talk about lawyers acting as intermediaries between the public and the law, or bankers who act as intermediaries between individuals and their access to creditors. It is possible that lawyers, brokers and bankers can be obsolete by blockchain technology in the future.

 Instead of needing intermediaries, blockchain technology will allow individuals, organizations, machines, and algorithms to interact freely with each other.

 We've seen this with blockchain and bitcoin. When two people want to exchange bitcoin or other cryptocurrency, they don't go to the bank and pay a large transaction fee. They complete peer-to-peer transactions through the blockchain.

How does the Blockchain work?


 Blockchain is a distributed ledger that embeds contracts and transactions in digital code.

 This digital code - and record of this transaction - is stored in a shared database that is transparent. This database is decentralized, which means it is held by people ("nodes") throughout the world. This decentralized system protects the blockchain from tampering, deletion, and revision.

 Using blockchain, everything we do has digital records. That means every process, transaction, task, and payment has a digital record. Each record can also be traced back to the individual: it has a signature that can be identified, validated, stored, and shared.

 In the end, this allows organizations or individuals to do business in a more efficient way: with a blockchain, we have a way of manipulating, verifying, and permanently recording transactions between two parties.

Can Blockchain Fail to Revolutionize the World?


 There are many sensations in the world of blockchain now. Blockchain startups are popping up every day. Many compare it to the internet revolution in the early 90s, when companies rushed to take advantage of the power of this dramatic new discovery.

 However, some - like the HBR.org article mentioned above - doubt the blockchain's ability to revolutionize the world. It's far from certain things.

 Some show security problems outside the blockchain - like Mt. Gox hack, when the user loses bitcoin worth $ 450 million USD.

 Others show the history of technological innovation. With most major technological changes, there needs to be a change in technology, government, organizations, and society that is substantial to pave the way for that technology.

 With changes as important as blockchain technology, countless modern institutions must fall before the blockchain can be fully implemented.

 As explained by the Harvard Business Review, "It would be a mistake to hurry towards blockchain innovation without understanding how it will happen."

Technology Behind the Blockchain


 As we mentioned above, the blockchain is a distributed digital book. This is a peer-to-peer network located on the internet.

 Decentralization

 One of the main features of this technology is that it is a distributed database. This is decentralized. The database is in many copies on several computers. Each copy is identical. Computers - or nodes - all form peer-to-per networks, which means there is no centralized database or server.

 At present, organizations maintain databases and centralized servers where all their data is stored. This makes this server a profitable target for hackers. The Blockchain decentralizes data and makes it public but encrypted. Many people believe this makes it resistant to damage.

 When transactions occur on the blockchain, data about the new transaction must be sent to all computers - nodes - on the network. This means the blockchain remains in sync as a "world ledger". Instead of having several conflicting ledgers, there is one version of "truth".

 Digital Signature

 Another key feature of the blockchain is that every transaction on the blockchain is digitally signed, using public key cryptography. Public key cryptography involves the use of two public and private keys. The public key is used to sign and encrypt messages sent, and anyone can see this key.

 However, only the recipient has a private key, which means only the recipient can decrypt the transaction. Public keys are used for more than just encrypting messages: they are also used to authenticate identity.

 Transaction Block

 The reason is called the blockchain because it's really a block chain.

 Each block on the blockchain consists of a list of transactions. Each block also contains a block header. The header contains three sets of metadata, including structured data about transactions in blocks; timestamp and proof-of-work data algorithm; and references to the parent block, or previous block, using hashes.

 Using these three sets of metadata, each block is chained together - because of that the word blockchain.

 Mining

 You may have heard about bitcoin mining. This is very different from traditional mining, to say the least!

 Mining is the process by which new blocks are created on the blockchain. In Bitcoin, new blocks are mined every 10 minutes. Some cryptocurrency has faster block transaction times, while others have slower times. Basically, this means that a Bitcoin transaction takes a maximum of 10 minutes to process.

 Mining validates every new transaction on the blockchain. To do that, the miner (who is a computer or processor) solves unique and difficult mathematical puzzles. This puzzle requires enormous computing power.

 Since Bitcoin was first introduced, the difficulty of this puzzle has increased exponentially, which means more power is needed to solve the puzzle.

 To put computing power into perspective, the miners were tracked trying 450,000 trillion solutions per second to solve the puzzle - and it all went back to October 2015 as reported by The Economist.

 Why does one spend all this computing power on mathematical puzzles? That's because they get prizes in the form of bitcoin - or other cryptocurrency, if you mine other cryptocurrency. Miners receive a cryptocurrency amount for each block mined, along with a transaction fee deduction for all transactions in the block.

A Brief History of Blockchain Technology


 You can write thousands of pages about the history of blockchain technology, including all the small improvements, big jumps, and companies that have formed over the past decade. Instead of getting you bored with that information, we will give you a brief history of how blockchain technology is like today:

 The first mention of the blockchain can be found in the original source code for Bitcoin. You can see the original code for bitcoin on Github.

 Bitcoin is the first major virtual currency in the world. It was the first time we saw the impact of blockchain technology on the world around us. The currency was officially introduced in October 2008 when a mysterious figure named Satoshi Nakamoto wrote a paper called, "Bitcoin: Peer-to-Peer Electronic Money System".

 In January 2009, the bitcoin code was released to the internet as an open source. Satoshi Nakamoto - whoever it is - "mines" the first bitcoin and officially launches the world's largest cryptocurrency.

 Soon after, in April 2011, Satoshi disappeared from the internet and stopped contributing to forums, papers, or bitcoin codes. Despite many attempts to find out who Satoshi Nakamoto is, and even some cases of misidentification, we knew nothing about Satoshi to this day (we will talk more about Nakamoto's identity below).

 2013 marked the first year when people started hearing about bitcoin. Investors jumped to bitcoin and startups related to the blockchain. Bitcoin prices hit a high of $ 1108 in November 2013 (the highest since then has been exceeded).

 For years since, another cryptocurrency has been created. These coins are called "altcoins" - or alternative bitcoins - because they are cryptocurrency not bitcoin. Litecoin and Dogecoin are the first two to appear, for example. Today, Ethereum holds a solid position as number two behind bitcoin.

Great Innovations in Blockchain Technology for Years


 There have been a number of innovations throughout the history of blockchain. Without this innovation, blockchain technology will not be as useful as it is now. The innovation includes all of the following:

 Bitcoin:

 Naturally, this is the first and most obvious blockchain innovation.

 Blockchain:

 The second innovation is when people realize that the underlying technology behind bitcoin - blockchain - can be used for more than just bitcoin.

 People realize that it can be used for other cryptocurrency, for example, or for various industries and other purposes. This is where the history of blockchain technology and innovation really develops.

 Ethereum & The Smart Contract:

 The second big blockchain platform after Bitcoin is the blockchain Ethereum. The main advantage of the Ethereum blockchain compared to the previous blockchain is the smart contract system.

 Basically, this involves building a small computer program directly on the blockchain. This allows conventional financial tools - such as loans or bonds - to be represented on the blockchain, not just bitcoin and cryptocurrency.

 Proof of Stake:

 Evidence of ownership began to emerge in late 2016 and early 2017. At present, most blockchain is secured by Evidence of Work, which means groups with the largest computing power make decisions (eg, Miners with the largest shares).

 The new blockchain technology replaces this with proof of ownership. This is a major security innovation because it removes the only security weakness on the traditional blockchain - the fact that miners with a 51% share of processing power can control bitcoin or other cryptocurrency.

 Scaling:

 Scale blockchain technology will speed up processing of blockchain in the future. At present, blockchain technology requires each computer in the network to process each transaction. This is slow and inefficient.

 Scale blockchain technology will speed up the process by determining the number of computers needed to process each transaction, and then use other computers for other tasks.

 In the end, the history of bitcoin is the history of the world's elite computer scientists who pushed computer and internet technology beyond the known limits. And all these innovations can be traced back to Satoshi Nakamoto.

Who Created the Blockchain? Who is Satoshi Nakamoto?


 Blockchain technology was first introduced in a paper, written by Satoshi Nakamoto, titled, "Bitcoin: Peer-to-Peer Electronic Money System". In the paper, Satoshi explained the basis for blockchain technology. All blockchain innovations can be traced back to Satoshi Nakamoto. He is the inventor of blockchain and bitcoin.

 Who is Satoshi Nakamoto? Nobody really knows. "He" can be a single Japanese man. Or he can be a group of individuals. Satoshi disappeared from the development of bitcoin and blockchain in April 2011, although he has not contributed to the development of bitcoin since December 2010.

 Here are a few things we know - or think we know - about the mysterious creator of the blockchain:

  • When Bitcoin was first introduced, Nakamoto claimed to be a Japanese man born on April 5, 1975.
  • However, many people believe that the use of traditional Japanese names is bait; most of the research on Satoshi's identity focuses on cryptographers and computer science specialists who live outside Japan - mostly in the United States and Europe.
  • Why do people believe that Nakamoto is not Japanese? One of the main reasons is because he writes in perfect English in all online communications; many people also believe he is British or Australian because he uses English English idioms such as "hard blooded" in forum posts.
  • Another clue to Nakamoto's identity is a time stamp: Swiss code maker Stefan Thomas analyzed all posts by Nakamoto's bitcoin forum and found that he consistently didn't post during certain hours of the day; based on this information, it is believed that Nakamoto lives in the Eastern Time Zone or Central Time Zone, which can narrow its location to North America or parts of Central and South America (assuming Nakamoto is one person with a normal sleep schedule).
  • The first "breakthrough" in Satoshi Nakamoto's identity occurred in 2015, when a parallel investigation by Wired and Gizmodo revealed that Australian programmer Craig Steven Wright could be the inventor of bitcoin; in May 2016, Wright told the BBC that he was Satoshi Nakamoto; Wright, however, did not provide evidence, and many believed Wright was only deceiving the world or seeking attention. Others, however, strongly believe that Wright is Satoshi.
  • Other people suspected of being Satoshi Nakamoto included Nick Szabo, an "American covered in Hungarian descent" and a brilliant code maker; Dorian Nakamoto, a Japanese man living in California whose birth name is Satoshi Nakamoto; and Hal Finney, the first person besides Satoshi to work on bitcoin software. Interestingly, Hal Finney is Dorian Nakamoto's next-door neighbor in California. Some suspected he was ghostly writing a neighbor forum post, while others suspected he was using his neighbor's identity to throw the pursuer.
  • Today, some people even believe bitcoin is a big government conspiracy, and that Satoshi Nakamoto is a government agent.
  • Whoever he is, it is estimated that Satoshi Nakamoto has around 1 million Bitcoin, making it worth more than $ 2.5 billion USD on May 24, 2017.

In the end, the inventor of blockchain technology may never be known. Or, it could be one of the names listed above. Until the mystery is solved, it will play an increasingly interesting role in the myth behind bitcoin. However, Satoshi is undoubtedly the most anonymous billionaire in the world.

What is Bitcoin? Who is the Creator of Bitcoin? History of Bitcoin?

 

What is Bitcoin? - Bitcoin (BTC) is a digital currency, which is used and distributed electronically. Bitcoin is a decentralized peer-to-peer network. There is no one institution or person who controls it. Bitcoin cannot be printed and the number is very limited, only 21 million Bitcoin can be made.

Who is the Creator of Bitcoin?

Bitcoin was first introduced as open-source software by anonymous programmers, or a group of programmers, by the name of Satoshi Nakamoto in 2009. There were many rumors about the original identity of the BTC creator, but all the people mentioned in the rumor were openly has denied being Nakamoto.

 Nakamoto himself claimed to be a 37-year-old man living in Japan. However, because English is perfect and the software is not labeled in Japanese, there is reasonable doubt about this. Around mid-2010, Nakamoto moved to other things, leaving Bitcoin in the hands of several prominent members of the BTC community. Satoshi also called Gavin Andresen the main developer.

 It is estimated that Nakamoto has around one million Bitcoin, which amounts to around $ 3.6 billion in September 2017.

Who controls Bitcoin?

According to Gavin Andresen, the first thing he focused on after Nakamoto moved out of the project was further decentralization. Andersen wants Bitcoin to continue its existence independently, even if he will be 'hit by a bus'.

 For many people, the main advantage of Bitcoin is its freedom from world governments, banks and companies. No authority can interfere with BTC transactions, charge transaction fees or take people's money. What's more, the Bitcoin movement is very transparent - every transaction is stored in a distributed public ledger called the Blockchain.

 Basically, while Bitcoin isn't controlled as a network, Bitcoin gives its users total control over their finances.

How does Bitcoin work?

A user only sees the amount of Bitcoin in his wallet and the results of the transaction.

 Behind the scenes, the Bitcoin network shares a public ledger called the "block chain". This ledger contains every transaction that has been processed. Digital transaction records are combined into "blocks".

 If someone tries to change only one letter or number in a transaction block, it will also affect all the following blocks. Because it becomes a public ledger, fraudulent errors or attempts can be easily seen and corrected by anyone.

 Wallet users can verify the validity of each transaction. The authenticity of each transaction is protected by a digital signature that matches the shipping address.

 Due to the verification process and depending on the trading platform, it may take several minutes to complete the BTC transaction. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Characteristics of Bitcoin

Decentralized

 One of Satoshi Nakamoto's main goals when creating Bitcoin is network independence from the competent authorities. This is designed so that every person, business, and every machine involved in mining and verifying transactions becomes part of a wide network. What's more, even if some part of the network goes down, money will continue to move.

 Anonymous

 These days banks know almost everything about their clients: credit history, address, telephone number, shopping habits, and so on. Everything is very different from Bitcoin, because the wallet does not have to be associated with personal identification information. And while some people just don't want their finances to be regulated and tracked by any authority, others might argue that drug trafficking, terrorism and other illegal and dangerous activities will develop in this relative anonymity.

 Transparent

 Bitcoin anonymity is only relative, because every single BTC transaction that has ever occurred is stored on the Blockchain. In theory, if your wallet address is used publicly, anyone can find out how much money is in it by carefully studying the blockchain ledger. However, tracking certain Bitcoin addresses to someone is still almost impossible.

 Those who want to remain anonymous with their transactions can take action to remain under the radar. There are several types of wallets that prioritize haziness and security, but the simplest step is to use multiple addresses and not transfer large amounts of money to a single wallet.

 Hurry up

 The Bitcoin network processes payments almost instantly, usually requiring only a few minutes for someone in other parts of the world to receive money, while a normal bank transfer can take several days.

 Can not be denied

 After you send Bitcoin to someone, there is no way to get it back, unless the recipient wants to send it back to you. This ensures receipt of payments, which means that anyone who trades with you cannot cheat you by claiming that they never get money.

What can I buy with Bitcoin?

Back in 2009, when Bitcoin was first introduced, it was not very clear how and where you could spend it. Now, you can buy almost everything. For example, giant companies like Microsoft and Dell receive payments in BTC for their various products and digital content. You can fly with airlines like AirBaltic and Air Lithuania, buy theater tickets through UK Theater Direct Tickets, get a few bottles of Honest Brew craft beer, and so on.

 Other options include paying hotels and buying property, taking bills at various bars and restaurants, joining dating sites, buying gift cards, placing bets in online casinos and donating for good purposes. There are also a variety of diverse online markets, trading everything from illegal ingredients to high-end luxury goods.

 Bitcoin is a relatively new and quite complex form of payment, so it is only natural that spending options are still limited, but every day more businesses - from small local coffee shops to industrial giants - receive payments in BTC.

 In addition, because the exchange rate continues to fluctuate, Bitcoin is a major opportunity for investment. Even though it is still an unstable currency and to some extent not recognized, the currency has become seven times more valuable over the past year, almost reaching a level of $ 5,000 for one BTC.

How do I get Bitcoin?

The simplest way to get Bitcoin is to buy it. Bitcoin is available from various exchanges, but you can also buy it directly from other people through the market. They can be paid in cash, transfer credit and debit cards or even with other cryptocurrency. But first, you will need a Bitcoin wallet.

 There are various options, but the main ones can be reduced to online wallets and software wallets on your computer's hard drive. There is no truly safe option, because the hard drive can be damaged, while online wallets may be vulnerable to hacker attacks. There are also cellphone wallets, which are greatly simplified because of the huge storage capacity needed to carry the entire Blockchain; special devices called hardware wallets and paper wallets with two QR codes that are not digitally stored anywhere, making them immune to standard cyber attacks and hardware failures.

 And, of course, there is mining. Only a few years ago, anyone with a computer that was strong enough to mine Bitcoin, but this is not the case anymore. The increasing popularity of BTC and its exchange rate have caused large companies to enter games that are armed with special mining equipment, hence why the difficulties and energy needed to mine valuable amounts of Bitcoin have skyrocketed. What's more, the amount of Bitcoin that still needs to be mined decreases constantly and drastically.
Subscribe to Newsletter

Trending

© Copyright 2019 zonafintech. Partner - .