You probably got to know Bitcoin by learning about miners, ASIC devices and creating new Bitcoins with noise, heat, and of course lots of electricity..
But, what exactly are these miners and devices doing?
To understand that, let’s have a clear idea of Bitcoin and the intentions in its complex design. Bitcoin’s whitepaper is the best place to start. It is titled as “Bitcoin: A Peer-to-Peer Electronic Cash System”.
So, Bitcoin is an alternative for conventional digital money to be transferred peer to peer with no middlemen involved; just like cash money. Digital money in banks’ has no privacy which is the most significant feature of cash. Banks can close accounts, limit transfers, etc.; …
Why current approaches toward stability are moving in the wrong direction
The majority of articles and whitepapers about stablecoins suffer from two major issues. Most of them fail to explain what mechanism makes the price stable, and those who do, can not describe that mechanism clearly. They lack the large-scale view and their weak monetary knowledge sinks them into complicated technical terms before they get a clear overview of the topic.
This article aims to demonstrate how a stablecoin can be designed. It argues that current approaches towards explaining and classifying stablecoins are heading toward wrong directions and cannot attract the majority of activists in the blockchain community. This is evident in their limited market size. …
Those who have been in the world of crypto for some time know that there has always been a see-saw relationship between scalability of crypto assets and how decentralized they are.
Take Bitcoin for example. It is based on proof of work and miners to distribute shares and power. Although it is believed that it has the most decentralized ledger, it charges really high fees for its transaction. Everyone remembers 2017 when Bitcoin was traded at its highest, each transaction could cost you about $50. The transaction fees in crypto world put limitations on the system and its scalability.
And yeah! Everybody remembers what Bitcoin was supposed to be. A system to transact money in a decentralized way. Bitcoin and all the altcoins that came after were the first generations. …
I used @Changelly_team to exchange my 3000 ANT to receive 2170 DAI in return according to their own site. But when I sent them the 3000 ANT, I received 1570 DAI. I have lost 600 DAI for trusting @Changelly_team
Funny thing is it still says 3000 ANT is worth 2170 under the bill!
Now their support team is telling me that the rate in the website is just an approximate number. But 30% difference is not an approximate. It is just a random number to con the customer!
I hope they will fix this or have a good explanation for it. That’ll be the best advertisement for Changelly Team and their support. …
When Ethereum was introduced in 2014, new terms were added to the decentralized world. It was the first time we were facing words like blockchain, tokens, smart contracts and DApps. These new terms and words are practical results of a paradigm shift from Bitcoin which is merely a payment system with coins to Ethereum that is a world computer and considers Bitcoin as a single DApp among its millions of other possible DApps.
DAOs and in particular BlankDAO claims to bring about yet another paradigm shift from Ethereum and a world computer to organizations that can include world computers as a single part of their vast possibilities. …
We are inviting you and all the people in the world to move into a new-found-land in cyberspace called BlankDAO. In BlankDAO everything is better than all other lands you know. For instance:
Before buying Blank Tokens, investors usually ask about their utility. Mostly because it is commonly believed in blockchain community that tokens are valuable due to their utility, and the more utility tokens have the more valuable they are. But, utility is the source of value only in blockchain era. Value has had different sources throughout history and might have new ones in the future.
Let’s rewind back to 8 years ago where there was no talk of blockchain. Altcoins were booming and starting to compete with Bitcoin. Value assessment for altcoins was never done according to their utilities though. Being used as gas in a network did not matter at all. …
Think of all the ID cards you have. How many can you think of? Your passport, ID card, drivers license, social security number, … the list goes on.
Think of what you use them for; getting on an airplane, identifying yourself in a bank, getting government benefits, etc.
Consider those you can use internationally.
Only your passport right?
Your passport shows where you are from, how old you are, whether you’re a male or a female, your parents’ names, etc.
Now imagine an idealistic world where life doesn’t depend on where you happen to be born and your rights and benefits are extended to you regardless. …
A recipe for a better crypto-collateralized stablecoin on Ethereum
We are often asked why we keep working on Ether Bank and Ether Dollar while MakerDAO and DAI are doing alright.
Our answer is simple:
Simple is better!
Everyone agrees that MakerDAO suffers from its complexity.
No doubt it is frustrating to figure out all those CDP, MKR, WETH, PETH, …
But is creating a smart contract on Ethereum to provide stable tokens backed by ETH so hard and complex?
Stability is achieved by backing tokens by collateral and ensuring that there’s enough collateral in the smart contract to support the tokens’ value. …
Your friends get cool unique nifty CryptoXmas cards for as low as a few dollars worth of ETH and the proceeds go directly to Venezuelan charities through the Giveth Donation Application.
This is a simple HOWTO guide to send and receive CryptoXmas cards. Part 1 is a guide on how to send a card, part 2 is a guide for your friends who are not into crypto (yet!) and need to install MetaMask. The website is pretty straightforward. …