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The Evolution of Cryptocurrencies Part 1

If you compare two pieces of American money dating to the 19th century, you could find a dollar coin made of silver and a paper dollar that in those days could also be exchanged for the same silver coin. More than a 100 years ago paper dollar bills were backed by silver, a precious metal that theoretically should always have value. However, today that has changed, a modern dollar bill is backed by nothing but the word of the U.S. government. Therefore the government can do whatever they wish, they can print more paper money, devalue the dollar any time they want, in fact, and although unlikely, the dollar could even disappear completely (Metz, 2013). There are subtle differences between a virtual currency, a digital currency and a cryptocurrency, although the terms are often used interchangeably. Virtual Currency – in 2012 the European Central Bank defined a virtual currency as "a type of unregulated, digital money, which is issued and usually controlled by its

THE BLOCK CHAIN EXPLAINED

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes ca

Why Use Cryptocurrencies?

Cryptocurrencies are a form of money specifically designed to take advantage of the architecture of the internet. Instead of relying on a standard financial institution to guarantee and verify transactions, cryptocurrency transactions are checked, or "confirmed," by the computers of the users on the currency's network. The computers that verify the transactions usually receive a small amount of currency as a reward. The process of receiving rewards in exchange for verifying transactions is called "mining," and it is the main way that new currency is produced. Mining works differently for different currencies. Because cryptocurrencies are completely digital, they can be used in ways that ordinary currencies can't; primarily, they are used like the digital equivalent of cash. Unlike credit or debit cards that are issued by banks, you don't need an account or good credit to use cryptocurrencies, yet you can use them to buy goods and services fr

Coin Selling Limit with New BlockChain

*Important Information for all*  *Coin Selling Limit with New BlockChain_* ‼ 💹Starter & Trader:      *12 EUR/Day* 💹Pro Trader & Executive Trader:      *36 EUR/Day* 💹Tycon & Tycon Plus:      *60 EUR/Day* 💹Premium & Festival:      *120 EUR/Day* *Note*: 🚫These *Limits* will Increase* continuously and will be removed completely when enough coins are mined, same as *OneCoin Transaction Fee* is *2.5%* (at this moment. 🚫Need to have *KYC* done (Know Your Customer) status at least *Conditionally Approved* if you want to sell *Free Coins* 🚫Need to have at least *€20* on cash account as requirement for selling Coins. 🚫Coin can be sold from *Mon-Fri* only. *ONELIFE*

Digital Assets and the Internet of Value

In February 2015, Chris Skinner  coined the term  Value Web: “We are now seeing that digital currency emerge to enable the ValueWeb: an internet where value can be exchanged anywhere, anytime by anyone.” The post was a look beyond a traditional understanding of fintech as the digitization of finance and toward a more nuanced view of all assets as digital assets. In other words, it’s not about creating a digital layer for the economic world; it’s about creating an economic layer for the digital one. It’s a world where the value we already place on things – experiences, relationships, papers, things, fiat money – can be reflected in a digital currency of some kind and that value can be transacted. That digital currency is none other than a cryptocurrency. Several papers over the past couple months have explored this topic, and here, we do a quick lap through them as weekend food for thought. In late 2015,  Evry dives straight into the Value Web . They propose a basic framework

The Internet of Value

Just as information moves instantaneously between individuals and across networks, could the same be done with money? Ripple Labs aims to create an “internet of value” – a world where money is exchanged at the speed in which information moves today. Transactions would occur in real-time and across global networks, solving the problem of international payment systems that are not interoperable. Ripple Labs is working to make this idea a reality by offering a distributed ledger service that tracks payments without the use of a central authority. The start-up’s platform is fundamentally inspired by bitcoin, specifically the blockchain technology underpinning the digital currency’s movement, but the Ripple protocol is open to anything of value, including existing currencies. The company has emerged as a leader in the  real-time payments space  and was recently chosen as a “technology pioneer” by the  World Economic Forum . CME Ventures Executive Director Rumi Morales recently sat do

The e-Wallet

The traditional leather wallet is your stalwart companion for safekeeping precious possessions of all kinds. It holds tightly your cash,  credit cards , family pictures, driver's license, insurance identification, shopping loyalty cards and more. Alas, your wallet grows thicker and more unwieldy by the day; your spine shrieks every time you sit on it the wrong way. Oh, and it's entirely unsecure. Any crook that gets his hot little hands on your wallet can easily blow all of your cash and possibly wring your credit accounts dry, too. In spite of that fact, 85 percent of transactions across the globe are still based on  cash  and checks. Americans alone wrote around 14 billion checks in 2009  To combat theft, simplify your finances, avoid being the "check-writing guy" in line at the store and maybe even ward off trips to the chiropractor, perhaps it's time for a wallet upgrade. For that, you might consider the digital wallet. Before we go any further, under

What is Digital Currency Mining?

                                                                If we had a dollar for every article and news report we've seen about digital currency mining that trumpets, “You. Can. Make. BIG MONEY!!!” and doesn't even bother to describe the process, well—we'd have a lot of dollars. The average person out there understands that mining can be a source of cryptocurrency income, but has no idea how to go about it. To clarify matters once and for all, we're gonna look at digital currency mining in this article—what it is, how it's done, and the different types of mining there are out there. The information for all cryptocurrency transactions is embedded in what are called data blocks. Each of these blocks is interlinked with several others, creating a block chain. In order for transactions to be verified, these blocks need to be analyzed as quickly as possible, and the issuers of digital currency know they don't have the processing power to do it alone. Tha

What is onecoin? All You need to know!

Onecoin is a new type of cryptocurrency  which is digitally created currency based on advanced mathematical algorithms. => Born out of the success of Bitcoin => Onecoin is not a pre-mined currency => the members will createthe market , mine the coins and keep the profit . => Onecoin will be traded on the public exchange . => Highly lucrative yet simple and fair compensation plan. => onecoin  has become the next successful cryptocurrency on the market. =>future payment Cryptocurrency Definition - What does Cryptocurrency mean? Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals. As a counter-culture movement that is often connected to cypherpunks, cryptocurrency is essentially a fiat currency. This means users must reach a consensus about cryptocurrency's value and use it as an exchange medium. Howeve

8 Ways FinTech Will Evolve in 2016

Financial technology, or FinTech, is changing how money changes hands. From offering solutions that may eventually create a global currency to establishing efficient payment relationships, FinTech is an industry that shows exciting prospects now, in 2016 and beyond. In looking at what FinTech companies have done in the last few years, we can see a possible forecast of future changes this innovative industry may have in store for businesses and consumers. Here are eight ways it could continue to evolve in 2016. 1. Educate consumers to make smarter financial decisions No one wants a repeat of the last financial crisis when organizations fed the bad spending habits of consumers. Rather than offering multiple equity lines of credit and free credit cards, the future is all about helping consumers make  smarter financial decisions , encouraging them to save money and presenting more financially sound as well as understandable investment strategies. Helping consumers accomplis