How blockchain technology works

bitcoin technologyBitcoin is one of the most widely accepted cryptocurrencies around the world. This is because of the blockchain technology that supports bitcoin transactions.

So, what is a blockchain? A blockchain is actually a large public database where every bitcoin transaction is stored as blocks.

Each block is encrypted via hash code, and blocks are linked with each other in such a way that any newly created block’s hash code is designed based on the previous block’s hash code. Because of this hash coding, if an anonymous person tries to tamper with the chain, the hash code becomes more complex, making theft impossible. Even very small changes in the network are indicated to all bitcoin users connected to the network. Continue reading “How blockchain technology works”

How the Financial World Recovers from The Coronavirus Pandemic

cryptocurrencyOrganizations like the IMF, World Bank and World Economic Forum expect  financial systems to contract in the aftermath of the Coronavirus. Most European countries are slated for negative growth and will most likely go into recession.

Even the world’s largest economy, the United States of America, is staring at its biggest contraction. This is likely going to be far worse than the Global Recession of 2007-08. The two fastest growing economies of the world, India and China are looking at just keeping their head above negative growth. Continue reading “How the Financial World Recovers from The Coronavirus Pandemic”

Bitcoin Trade – Earning Profit within the Modern World

The crypto enthusiast argument

bitcoin walletThe supporters are convinced of the democratic structure of the system and the lack of state control. For example, no central bank can intervene and finance the national debt through the central bank press – and then inflate later. Thanks to the blockchain, the cryptocurrency Bitcoin and its sister currencies are counterfeit-proof and anonymous. Transactions with cryptocurrencies are faster and cheaper by switching off intermediaries.

The crypto skeptics argument

Originally, the high volatility of Bitcoin and the absence of any regulation gave cause for criticism. The lack of value and vulnerability to technical problems are often cited as a disadvantage. Lots of skeptics now refer to the cryptocurrency market as a pyramid scheme. Continue reading “Bitcoin Trade – Earning Profit within the Modern World”

Digital Trends: How Will Cryptos Change the Business World?

cryptocurrencyIn the last few years, cryptocurrencies have received a great deal of attention from both investors and consumers. Whenever anything becomes this popular this quickly, it is usually important for businesses to take notice. This is because there are likely business opportunities to be found in this fast-growing marketplace.

But, what exactly are the risks? What are the advantages? These are important questions and since these topics are still very new to the world, the answers may not always be entirely clear. This is why we must continue to educate ourselves by researching the blockchain and cryptocurrency world and gain all of the required knowledge that is needed in order to avoid these potential risks. Continue reading “Digital Trends: How Will Cryptos Change the Business World?”

The Booming Cryptocurrency ATM Market

cryptocurrencyCryptocurrency ATMs are becoming more available and relevant by the day. A visit to CoinATMradar is all it takes to see that points of cryptocurrency purchase are popping up all over the world and are already present in many countries. Chances are, you probably have one in your area. Prior to ATMs, crypto users were limited to a service called LocalBitcoins, a website that brings buyers and sellers together to transact.

Even though the crypto ATMs might look like and operate similarly to the conventional bank devices most people are aware of, there are a few marked differences with bank ATMs. These differences can be best appreciated when looking at CoinFlip, one of the companies in the local bitcoin exchange space.

Continue reading “The Booming Cryptocurrency ATM Market”