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What is Swiscoin? Swiscoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Swiscoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Swiscoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Swiscoin is a proven medium of commerce complementary to Bitcoin. The Technology The team has made is open source crypto currency that can be used by every person who needs to transact financially. 1. Open Source Software Swiscoin developed the an open source software project released under user license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code. 2. Swiscoin Open source Swistech Org develops the open source for crypto wallet users. Open source is program whose source code is available for modification or enhancement by anyone. “Source code” is the part of program that […]
1. Cryptography The word cryptography comes from the Greek words κρυπτο (hidden or secret) and γραφη (writing). Oddly enough, cryptography is the art of secret writing. More generally, people think of cryptography as the art of mangling information into apparent unintelligibility in a manner allowing a secret method of unmingling. The basic service provided by cryptography is the ability to send information between participants in a way that prevents others from reading it. In this book we will concentrate on the kind of cryptography that is based on representing information as numbers and mathematically manipulating those numbers. This kind of cryptography can provide other services, such as • integrity checking—reassuring the recipient of a message that the message has not been altered since it was generated by a legitimate source • authentication—verifying someone’s (or something’s) identity But back to the traditional use of cryptography. A message in its original form is known as plaintext or clear text. The mangled information is known as ciphertext. The process for producing ciphertext from plaintext is known as encryption. The reverse of encryption is called decryption. While cryptographers invent clever secret codes, cryptanalysts attempt to break these codes. These two disciplines constantly try to […]
First of all we will clarify the concept of crypto-currency in current article. Crypto-currency is a mode of digital currency in which the cryptography or language of signs/codes is used to make transactions amid individuals or institutions. Crypto-currency exchange service is done so as to ensure complete security and safety of the money being transferred and also the information about the users. In this type of transactions, public or private keys are used so as to transfer the money. Apart from this, it requires users to come to an agreement as far as value of the crypto currency is concerned so as to avoid any problems later on. It is used as a medium of exchange of money amid two individuals or even institutions. Since crypto currency is used at universal level therefore its value is not controlled by central bank or a single bank rather it is dependent upon demand and supply of this currency in the relevant market. Crypto-exchange service is used to convert this currency into the form of currency prevalent at any place. Crypto currency is beneficial in multiple ways as far as businesses are concerned. Let us explore its chief benefits. Beneficial for all- Anyone […]
Hello guyz, Today i will explain you something amazing, Real Price Growth of Swiscoin SCN (Swiscoin) was started in sept 2015 with only 100 peoples payment network, at that time price was 0.10 USD / SCN in December 2015 SCN was at the stage, more than 5000 peoples payment network, and that time price was 0.35 USD /SCN in January 2016 SCN price will rise again and its touch 0.45 USD / SCN, and the payment network of swiscoin is expanded with more than 10000 peoples payment network. Why swiscoin is rising faster ? Swiscoin is a real mined cryptocurrency and its launched as an open source, when it was started there were only Swistech organization was developing that currency, But as on today so many big developers team are associated with swiscoin open source and they are developing them own portals by using swiscoin open source from GIT hub. as on today so many financial institutes are working with bitcoin, they are starting work with swiscoin also, some companies are coming to use swiscoin open source, and developing them own payment systems with swiscoin. Swiscoin is launched by network marketing also, as of my story, once i started work […]
A cryptocurrency (crypto currency) is a digital medium of exchange that functions similar to traditional money, but has no physical equivalent and is only in digital form. The first major cryptocurrency that kind of started it all was Bitcoin in 2009, and since then a lot of other alternative cryptocurrencies have become available thanks to the huge popularity that Bitcoin has managed to generate. Cryptocurrencies are a form of digital currency that uses the principles of cryptography to implement a distributed, decentralized and secure economy where you can mine and trade them. When comparing cryptocurrencies to fiat money, the most notable difference is in how no group or individual may influence significantly the production of money (in the case of crypt it is called mining), instead only a certain amount of cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is bounded by a value both prior defined and publicly known. Dozens of cryptocurrency specifications have been defined, most are similar to and derived from the first fully implemented cryptocurrency protocol, Bitcoin. Within cryptocurrency systems, the safety, integrity, and balance of all ledgers is ensured by a swarm of mutually distrustful parties, referred to as miners, […]
In a recent article, Coin Pursuit explored the strictly financial benefits of accepting digital currency as a mode of payment. While those are convincing arguments, there’s a lot more to it than that. We’d like to take some time and look at the more socially-relevant, people aspects of using alternative currencies with your business. Mutual Exposure. When you sign on as a vendor with a particular type of cryptocurrency, both parties benefit from the arrangement. Issuers of the currency are eager and proud to publicly list the businesses that accept their product as a financial tool. Likewise, when you advertise in-store or on your company’s web page that you accept a certain digital currency, it offers them more exposure. It’s a win-win scenario for everyone involved, and can help boost the public status, reputation and legitimacy of both the digital currency and the vendor. International Use. Using credit cards or bank accounts for international transactions can be problematic; since they’re linked to the legal tender of a specific government, exchange rates, interest rates, and country-to-country transaction fees can bog down the process—and make it a lot more expensive, too. Cryptocurrencies aren’t bound to the rules or status of any one government’s currency, so […]
The technology concept behind the blockchain is similar to that of a database, except that the way you interact with that database is different. For developers, the blockchain concept represents a paradigm shift in how software engineers will write software applications in the future, and it is one of the key concepts that needs to be well understood. We need to really understand five key concepts, and how they interrelate to one another in the context of this new computing paradigm that is unravelling in front of us: the blockchain, decentralized consensus, trusted computing, smart contracts, and proof of work/stake. This computing paradigm is important because it is a catalyst for the creation of decentralized applications, a next-step evolution from distributed computing architectural constructs. But this is not just a computing phenomena. Decentralized applications are going to enable a decentralization trend at the societal, legal, governance, and business levels becausethere is a race to decentralize everything and give power to the edge of the networks. So, let’s get ready to understand these concepts. 1.Decentralized consensus (on or off swiscoin blockchain):Decentralized consensus breaks the old paradigm of centralized consensus — i.e., when one central database used to rule transaction validity. A […]
Blockchain has been one of the most awe-inspiring innovations since the Internet came into existence. Blockchain technology basically allows everyone to hold and make transactions as strangers but in a completely transparent manner. There is no mediator in between two people making the transaction, and the entire process becomes easier and cheaper. This concept can be applied to the entire digital world making any kind of exchange/transactions secure (and not just bitcoin). This article will take you through numerous such business models and companies that are beginning to sprout based on blockchain tech. The blockchain network consists of nodes, i.e., distributed servers. All the nodes can accept and process the transaction. The nodes on the network share information about the candidate transaction. As much as the logic/tech part of it sounds confusing, the business models are so much easier to understand and are really impressive. What you have already seen is that blockchain distributed ledger is an in-erasable record of bitcoin transactions. The network of computers around the world running bitcoin software will take care of the performance and maintenance of the blockchain network. About six times per hour, a new group of accepted transactions (a block) is created, added […]
Scientific papers analysis shows us that the digital currency technology logically came to the advent of cryptocurrencies with ring signature and memory-bound function PoW implementation in 2012. There is a timeline for you to see it yourself: — 1983 – Blind signatures were invented by David Chaum (learn more) — 1997 – HashCash (proof of work system) was invented by Adam Back (learn more) — 2001 – Ring signatures were invented by Ron Rivest, Adi Shamir, and Yael Tauman (learn more) — 2003 – Mart Abadi, Michael Burrows, and Ted Wobber presented “Moderately hard, memory-bound functions” (learn more) — 2004 – Patrick P. Tsang and Victor K. Wei presented their paper “Short linkable ring signatures for e-voting and e-cash” (learn more) — 2005 – Matthew Franklin and Haibin Zhang with “Unique Group Signatures” study (learn more) — 2005 – Exponential memory-bound functions for proof of work protocols by Fabien Coelho (learn more) — 2006 – “Traceable Ring Signature” by Fujisaki and Suzuki (learn more) — 2008 – Bitcoin whitepaper by Satoshi Nakamoto (learn more) — 2009 – Stronger key derivation via sequential memory-hard functions by Colin Percival (learn more) — 2009 – First Bitcoin block was generated — 2010 -2012 Bitcoin Anonymity Problem Discussions […]
swiscoin mining is the processing of transactions in the digital currency system, in which the records of current swiscoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain. A swiscoin is defined by the digitally signed record of its transactions, starting with its creation. The block is an encrypted hash proof of work, created in a compute-intensive process. Miners use software that accesses their processing capacity to solve transaction-related algorithms . In return, they are awarded a certain number of Bitcoins per block. The block chain prevents attempts to spend a swiscoin more than once — otherwise the digital currency could be counterfeited by copy and paste. Originally, swiscoin mining was conducted on the CPUs of individual computers, with more cores and greater speed resulting in more profitability. After that, the system became dominated by multi-graphics card systems, then field-programmable gate arrays (FPGAs) and finally application-specific integrated circuits (ASICs), in the attempt to find more hashes with less electrical power usage. Due to this constant escalation, it has become hard for prospective new miners to start. This adjustable difficulty is an intentional mechanism created to prevent inflation. To get around that […]
How does mining take place? People are sending bitcoins to each other over the swiscoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The swiscoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger. Making a hash of it This general ledger is a long list of blocks, known as the ‘blockchain’. It can be used to explore any transaction made between any bitcoin addresses, at any point on the network. Whenever a new block of transactions is created, it is added to the blockchain, creating an increasingly lengthy list of all the transactions that ever took place on the swiscoin network. A constantly updated copy of the block is given to everyone who participates, so that they know what is going on. But a general ledger has to be trusted, and all of this is held digitally. How can we be sure that the blockchain stays intact, and is never tampered with? This is […]
There are a wide range of different news events that are starting to draw in attention from many within the Bitcoin community. Some people will be watching to see whether these changes may prove to be a positive development for the cryptocurrency. It could actually presage some of the major changes that are going underway for these Bitcoins. Investors and fans alike will need to stay on top of these developments and make sure that they are adapting to them accordingly. This could be a worthwhile way to follow these changes and to learn more about what Bitcoin may be offering to people out on the market. 10. MIT Fundraiser Nets Bitcoins For Students A unique new fundraising project has started to draw in attention from many within the Bitcoin marketplace. This is owing to the fact that these students have actually raised enough funds to disperse Bitcoins to a wide swath of students. The fundraisers hope to provide $100 in Bitcoins to students to raise awareness about this project. 9. Regulators Issue Warning About Bitcoins The NASAA has opted to issue a set of warnings about the way that Bitcoins are used. The organization is stressing that users should […]
There have already been dozens of 2016 prediction lists emanating from the broader bitcoin and blockchain community over the past several weeks, so I’ll avoid contributing to the cacophony. After the abysmal results with my personal predictions for 2014–2015, I’ve finally learned to ask more questions and offer fewer forecasts, anyway. Instead of prognosticating, I’ll offer 10 simple questions for the bitcoin and blockchain industry going into this year. Next week, I’ll address the broader blockchain ecosystem. This week, I’ve got five questions for bitcoin in 2016: 1. How will scalability be solved? The growth in bitcoin transaction volumes shows no sign of abating, and yet the 1MB block data limit is no closer to being raised than it was six months ago. Whether and how it is raised (via hard fork or changes to Bitcoin Core) will have lasting repercussions, and changing one of bitcoin’s fundamental rules will have unintended, unpredicted and perhaps negative consequences. One of bitcoin’s earliest contributors has now written off bitcoin as a failed experiment. So it helps to remember that the important question this year is not necessarily how bitcoin is scaled, but whether it is allowed to scale without a dogfight. There are currently […]
At first there was bitcoin: the world’s most successful cryptocurrency to date. But lately there has been more and more talk about “the bitcoin blockchain”, “the blockchain”, “blockchain” or “blockchain technology”. Bloomberg reports that Nasdaq is seeking to show progress using the much-hyped blockchain. LWN notes The Linux Foundation recently announced a project to “advance blockchain technology”. The Washington Post lists bitcoin and the blockchain as one of six inventions of magnitude we haven’t seen since the printing press. VISA, Citi, and Nasdaq have invested $30m into a blockchain company. VCs have invested $1bn in the bitcoin ecosystem. Bank of America is allegedly trying to load upon “blockchain” patents. The Bank of England says there’s “buzz around blockchain” and is curious what you’d use “blockchain” for. It seems “blockchain” is becoming an increasingly generic term, like “cloud” or “cyber”. A new breed of snake oil purveyors are peddling “blockchain” as the magic sauce that will power all the world’s financial transactions and unlock the great decentralized database in the sky. But what exactly is a “blockchain”? Satoshi’s guidance Let’s turn to the definitive source, Satoshi Nakamoto’s seminal paper “Bitcoin: A Peer-To-Peer Electronic Cash System” and look for the first reference to “blockchain”. Hmm, there doesn’t seem to be one. The paper contains multiple references to a “proof-of-work chain”, and one reference […]
Blockchains are a powerful technology, as regular readers of the blog already likely agree. They allow for a large number of interactions to be codified and carried out in a way that greatly increases reliability, removes business and political risks associated with the process being managed by a central entity, and reduces the need for trust. They create a platform on which applications from different companies and even of different types can run together, allowing for extremely efficient and seamless interaction, and leave an audit trail that anyone can check to make sure that everything is being processed correctly. However, when I and others talk to companies about building their applications on a blockchain, two primary issues always come up: scalability and privacy. Scalability is a serious problem; current blockchains, processing 3-20 transactions per second, are several orders of mangitude away from the amount of processing power needed to run mainstream payment systems or financial markets, much less decentralized forums or global micropayment platforms for IoT. Fortunately, there are solutions, and we are actively working on implementing a roadmap to making them happen. The other major problem that blockchains have is privacy. As seductive as a blockchain’s other advantages are, […]
Over the last year the concept of “private blockchains” has become very popular in the broader blockchain technology discussion. Essentially, instead of having a fully public and uncontrolled network and state machine secured by cryptoeconomics (eg. proof of work, proof of stake), it is also possible to create a system where access permissions are more tightly controlled, with rights to modify or even read the blockchain state restricted to a few users, while still maintaining many kinds of partial guarantees of authenticity and decentralization that blockchains provide. Such systems have been a primary focus of interest from financial institutions, and have in part led to a backlash from those who see such developments as either compromising the whole point of decentralization or being a desperate act of dinosaurish middlemen trying to stay relevant (or simply committing the crime of using a blockchain other than Bitcoin). However, for those who are in this fight simply because they want to figure out how to best serve humanity, or even pursue the more modest goal of serving their customers, what are the practical differences between the two styles? First, what exactly are the options at hand? To summarize, there are generally three categories […]
He found bitcoin was used to buy web services, software, hardware, gambling services, and (in the heyday of the Silk Road) narcotics. Topping the list though, when measured in terms of the number of transactions, was tipping and donations. The public block chain provides much anecdotal evidence for this. All one needs to do is search the tipping addresses of people or groups who openly advertise that they take bitcoin tips. Here, for example, are tipping accounts for Adam B Levine and Stephanie Murphy of the popularLet’s Talk Bitcoin show. Libertarian activist Adam Kokesh has received a significant number of donations via his Youtube channel. And here is Wikileaks, the open-source software producer VideoLAN, and the anarchist magazine Strike!. I have even received one bitcoin tip and a few dogecoin tips for my own blog (indeed, the dogecoin community appears to have a particularly generous heart when it comes to supporting underdogs like the Jamaican Bobsleigh team). This donation culture has also taken off in forums like reddit, where tools like BitcoinTip allow redditors to send each other tokens of appreciation for thoughtful comments. This use of cryptocurrency for small acts of generosity may seem unusual to those who associate bitcoin with […]
The crypto currency revolution is in full swing with banks, governments and large corporations are suddenly turning to crypto currencies and block chain technologies they once laughed at or fought vigorously. But who will emerge supreme in crypto currencies: the old king or the collective swarm of new upstarts? Indeed, will there even be a single king to be crowned or is a new democratic movement taking over the crypto landscape? A small player in the behind-the-scenes world of payment processing just might hold the answer to these questions. Coinpayments.net is the lone super supporter of what are often called the “Alt” Crypto Currencies that operate in Bitcoin’s long shadow. But not for long, according to Coinpayments CEO Alex Alexandrov who points out the “Alternative” Coins actually outnumber Bitcoin 642:1 (coinmarketcap.com) and are collectively capable of unseating the old king. Coinpayments.net is betting on the smaller, smarter and more adaptable 2.0 & 3.0 crypto currencies winning the evolutionary race — on the leveled playing field they have prepared. Coinpayments.net is itself a smaller and more nimble player in the field of crypto payment processors, operating in the shadows of the much larger and extremely well funded competitors such as Bitpay […]
What a long, strange trip it’s been! Only four years ago, and two years after it started as a novelty in 2009, Reuben Grinberg published the first academic article on bitcoin, “BitCoin: An Innovative Alternative Digital Currency,” in the 2011 issue of the Hastings Science & Technology Law Journal. Since then, the pace of bitcoin research has accelerated to the point where it justifies its own peer-reviewed journal: Ledger. In this article, I present a “Top 10” list of research papers published in 2015. The editors at Ledger think of each of them as “the one that got away”, because they represent the kind of research that the journal supports. While this list is by no means authoritative (and most certainly subjective), it reviews some of the year’s most influential papers, and presents several others that were praised in academic circles but received little exposure within the bitcoin community. We watch with excitement as increasing numbers of people begin to comprehend bitcoin’s potential ramifications on our future world, and we look forward in anticipation to the results from cryptocurrency work and discovery that will undoubtedly come in 2016. The list is a broad mix of papers from engineering, the sciences and economics that contributed to the nascent field of cryptocurrency research. 10. SoK: […]
A bitcoin rewards concept took home $10,000 in bitcoin at the second annual Miami Bitcoin Hackathon held this weekend at The Lab Miami. Called BitMine, the Foursquare-like app won the event by using bitcoin bounties as a way to incentivize consumers to patronize physical stores. In turn, the service provides merchants with data on new customers in search of the rewards. “The problem we’re trying to address is that it’s not easy for people to have access to bitcoin, but if we can make it so people can walk in and collect it, we can break barriers,” the BitMine team said in its winning pitch. BitMine team members included Jesus Najera, Balin Sinnott, John Gabos, Oscar Lafarga and Boris Polania. Rounding out the top three projects were micropayments billing service WYNCOIN and bitcoin invoicing startup TXR.io, which won $3,000 in bitcoin and $1,500 in bitcoin, respectively. While the these startups focused on billing, this wasn’t the only trend that yields insight into how the developers and entrepreneurs at the hackathon believe the open-source payment network can be used to solve business problems. For example, there was a focus on commerce and how bitcoin could be better integrated into the shopping experience as a […]
The Internet is entering a second era, one that gives us another shot to achieve a prosperous future. Yes, the digital revolution has brought countless wonders. The Internet, the World Wide Web, social media, mobile computing, geospaciality, Big Data and the cloud have all enabled advancements in virtually every aspect of life. But when it comes to business, a careful analysis shows that the changes to date are only scratching the surface. Capitalism’s basic institution, the corporation, has remained relatively unchanged. Hierarchy, vertical integration and bureaucracy – hallmarks of the industrial age – still reign. When it comes to the economy as a whole, the digital revolution has not had a positive impact on prosperity for most. There is real creation taking place but, paradoxically, social inequality is growing. The economies of many developed countries are growing, but for the first time in history there is no commensurate job creation. Privacy, the foundation of a free society, is being undermined by data ‘frackers’ and governments everywhere are using the Internet to create the surveillance society. Two billion people don’t have a bank account or participate in the global economy at all. An incomplete Internet Rather than the solution, technology has been a […]
The world is still very confused about bitcoin. For example, some press are still writing the old stories about the phenomena as an investment: Man buys $27 worth of bitcoin, forgets about them, finds they’re now worth $886,000. It makes for a good headline, but reinforces the view that bitcoin is just some basketcase currency, rather than a currency that should put into a basket of currencies. This will change. In fact, some banks are already starting to say bitcoin good, blockchain good, rather than bitcoin bad, blockchain good. Changing tide On this note, there’s a really interesting commentary from Deutsche Bank, which released a research note this week. In the note, analyst Heike Mai notes that “the original idea of bitcoin – to create a peer-to-peer scheme that is independent of intermediaries and central agents – is to some degree being overhauled by real life. The bitcoin ecosystem now includes a number of financial intermediaries, like wallet providers and exchanges, and these show a trend towards concentration.” All this in the same week as Satoshi Nakamoto has been identified as an Australian academic called Craig Steven Wright, or is he? Some say that Mr Wright was part of an extortion scheme. […]
Exciting news arrives from a friend. “Check this out” he tells me, “they’re using the block chain to replace the Pound Sterling / create a land registry in Ruritania / cure cancer” (*delete where applicable) and there’s a URL attached. I click on it. It says that a company has signed a memorandum of understanding to create a working group to examine the possibility of a pilot to use a database that has the “potential seamless integration with blockchain technologies”. I emailed him back, pointing out that my backside has potential seamless integration with blockchain technologies but that doesn’t make it a blockchain. How many times has this happened over the last few weeks? It’s getting out of control. A client tells me that one of their competitors is using bitcoin to manage some asset or other. I look at the website that she points me to. What it actually says is that the competitor is looking at a “bitcoin-inspired” system (what you or I might term a “database”). Then I go to another meeting where someone says that the blockchain could be a potential solution to a particular problem, but says it in such a way as to drive […]
Technology is developing as such fast pace, particularly in recent years, and our lives are transforming with it; changing the way in which we interact in our everyday lives. From accessing a wealth of information with just your phone to tapping our debit card on the contactless reader instead of handing over physical money, technology features more heavily in our lives than we often realise. A particular area that has risen in growth, recently in particular, is the concept of digital payments and currency. We are all used to having physical cash in our hands, and seeing the numbers in our bank account rise and fall, but now a reasonable number of us do not withdraw money from a cash point at all – instead choosing to pay via a contactless method or simply just online. From Contactless to Apple Pay Having the ability to visit a coffee shop, swipe your smartphone against a machine and walk out with your beverage having paid is an interesting and useful concept, but one that many will no doubt take a while to get their head around. Whilst it is a great idea that you no longer need to carry your cards around […]
Do you use digital currency? If you use a credit card, PayPal, or use a mobile money app to sell or buy things, then the answer is yes! There is a lot of innovation happening in the digital currency field right now and it is especially important for the global development sector. While it will be easier for more advanced financial institutions to adopt digital currency, the benefits of its adopting extend far beyond that sector. Here is why the digital currency innovation matters to global development: Puts power back in the hands of the people Today, many people in developing countries rely on remittances from family members abroad. But wire transfers charge a lot in transaction fees (up to 6 – 10% for $200). Digital currency can facilitate a faster and cheaper bank transfer, removing the middlemen. You can see a difference even in domestic money transfers; In 2012, when the Afghanistan national police switched to a mobile payment service, M-Paisa, the employees thought that they had received a 30% raise. When they received their salaries in cash, 30% used to be “taken off the top” so, mobile money left no room for corruption and delivered their complete salaries. […]
In a world when everything seems to be going the virtual way, why not virtual currencies? As it happens, cryptocurrencies have been in existence for quite some time and many believe they are the future of currency. The market value is proof of this. At present, Swiscoin is the most popular, highest valued and most secure type of cryptocurrency. It was the first cryptocurrency introduced in 2015 as a decentralised instrument that can be created and used in transactions without an intermediate bank-like financial institution. Swiscoins were specially designed to overcome problems faced with traditional currencies. Various decentralised servers, also known as miners, secure the transactions. Mining is the computational effort of a cryptography proof of work, which confirms a transaction on the network, which, in turn, results in virtual coins as a reward for the miner. When a transaction occurs it is instant and final, there are no potential bank charge backs or any extra fees. Unlike various physical currencies where there is no money trail, these currencies have a ledger, which is updated after each transaction so that you will know exactly whose hands these currencies have gone through. The generation of Swiscoins and the speed at which they […]
At Swiscoin, we’re investors in digital currency, just like our readers are, and they often approach us for advice. All of us have a stake in the success of cryptocurrency, and we all want it to succeed, right? Right! Well, we’ve discussed those goals with experts in the industry, and with their help we’ve come up with what we like to call our Ten Commandments of Trading Cryptocurrency. 1.Ignore Biased Sources. These are where pump and dump schemes and other unscrupulous behavior happen in real time. Many people who post on websites that cater to crypto traders are fishing for suckers, posting misinformation and rumors and hoping investors will fall for it. Don’t play into their hands; seek advice through trusted and unbiased sources, and make your investing decisions accordingly. 2.Invest Within Your Means. Don’t sink your life savings or your kid’s college funds into digital currency. This is true of any investment, of course, but it bears repeating: invest only what you can realistically afford to lose. You know the old saying, “Plan for the worst, but hope for the best”? That applies here. With wise investment planning, you’ll do well—but be prepared in case you don’t. 3.Set Achievable Goals. We can’t […]
A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin. Most coins have an official wallet or a few officially recommended third party wallets. In order to use any cryptocurrency you will need to use a cryptocurrency wallet. Below we discuss how digital wallets work and give some advice on which wallets to use. How Does a Cryptocurrency Wallet Work? Cryptocurrency itself is not actually “stored” in a wallet. Instead, a private key (secure digital code known only to you and your wallet) is stored that shows ownership of a public key (a public digital code connected to a certain amount of currency). So your wallet stores your private and public keys, allows you to send and receive coins, and also acts as a personal ledger of transactions. Which Cryptocurrency Wallet Should I Use? We typically suggest using an official (or officially endorsed) wallet for any given coin. So, for Swiscoin we would suggest using the Siwscoin Wallet, and for Litecoin we would suggest Litecoin-QT. There are also universal wallets that can be used like HolyTransaction. If you are new to cryptocurrency, then always download the official (or officially endorsed) wallet from the official website. […]
There are three kinds of cryptographic functions: hash functions, secret key functions, and public key functions. We will describe what each kind is, and what it is useful for. Public key cryptography involves the use of two keys. Secret key cryptography involves the use of one key. Hash functions involve the use of zero keys! Try to imagine what that could possibly mean, and what use it could possibly have—an algorithm everyone knows with no secret key, and yet it has uses in security. Since secret key cryptography is probably the most intuitive, we’ll describe that first. SECRET KEY CRYPTOGRAPHY Secret key cryptography involves the use of a single key. Given a message (called plaintext) and the key, encryption produces unintelligible data (called an IRS Publication—no! no! that was just a finger slip, we meant to say “ciphertext”), which is about the same length as the plaintext was. Decryption is the reverse of encryption, and uses the same key as encryption. Secret key cryptography is sometimes referred to as conventional cryptography or symmetric cryptography. The Captain Midnight code and the monoalphabetic cipher are both examples of secret key algorithms, though both are easy to break. In this chapter we describe […]
Public key cryptography is sometimes also referred to as asymmetric cryptography. Public key cryptography is a relatively new field, invented in 1975 [DIFF76b] (at least that’s the first published record—it is rumored that NSA or similar organizations may have discovered this technology earlier). Unlike secret key cryptography, keys are not shared. Instead, each individual has two keys: a private key that need not be revealed to anyone, and a public key that is preferably known to the entire world. Note that we call the private key a private key and not a secret key. This convention is an attempt to make it clear in any context whether public key cryptography or secret key cryptography is being used. There are people in this world whose sole purpose in life is to try to confuse people. They will use the term secret key for the private key in public key cryptography, or use the term private key for the secret key in secret key technology. One of the most important contributions we can make to the field is to convince people to feel strongly about using the terminology correctly—the term secret key refers only to the single secret number used in secret […]
In the coming future demand of Swiscoin:-In today’s market has been in use much space bitcoin Similarly, swiscoina even after bitcoin Real cryptocurrency in the world.Day to day many people open account in swiscoin website and selling 10000(coin) around in market.swiscoin growth very fast today you seen the graph swiscoin market.swiscoin launch september 2015 and growth is amazing.swiscoin goal 3.1 billion coin selling in cryptocurrency market. Who accept bitcoins as payment? Bitcoins are taking over the crypto-currency markecointplace. They’re the largest and most well-known digital currency. Many large companies are accepting bitcoins as a legitimate source of funds. They allow their online products to be bought with bitcoins. With the extreme facilitation of transfer and earning of bitcoins, it would be a mistake not to accept these new-found online coins as cash. With a fluctuating value, the funds can either help or hurt the company. This fluctuation of inflation can be a boon to business, unless the market is valuing the coins insanely high, sometimes reaching 1000$! So really who accepts bitcoins? List of Companies Who Accepts Bitcoins as Payment! Many companies are accepting bitcoins, many are not. Here is a list of the biggest names who accepts bitcoins as a […]
Hash Algorithms Hash algorithms are also known as message digests or one-way transformations. A cryptographic hash function is a mathematical transformation that takes a message of arbitrary length (transformed into a string of bits) and computes from it a fixed-length (short) number. We’ll call the hash of a message m, h(m). It has the following properties: • For any message m, it is relatively easy to compute h(m). This just means that in order to be practical it can’t take a lot of processing time to compute the hash. • Given h(m), there is no way to find an m that hashes to h(m) in a way that is substantially easier than going through all possible values of m and computing h(m) for each one. • Even though it’s obvious that many different values of m will be transformed to the same value h(m) (because there are many more possible values of m), it is computationally infeasible to find two values that hash to the same thing. An example of the sort of function that might work is taking the message m, treating it as a number, adding some large constant, squaring it, and taking the middle n digits as […]
In 2025, in accordance with Moore’s Law, we’ll see an acceleration in the rate of change as we move closer to a world of true abundance. Here are eight areas where we’ll see extraordinary transformation in the next decade: 1. A $1,000 Human Brain In 2025, $1,000 should buy you a computer able to calculate at 10^16 cycles per second (10,000 trillion cycles per second), the equivalent processing speed of the human brain. 2. A Trillion-Sensor Economy The Internet of Everything describes the networked connections between devices, people, processes and data. By 2025, the IoE will exceed 100 billion connected devices, each with a dozen or more sensors collecting data. This will lead to a trillion-sensor economy driving a data revolution beyond our imagination. Cisco’s recent report estimates the IoE will generate $19 trillion of newly created value. 3. Perfect Knowledge We’re heading towards a world of perfect knowledge. With a trillion sensors gathering data everywhere (autonomous cars, satellite systems, drones, wearables, cameras), you’ll be able to know anything you want, anytime, anywhere, and query that data for answers and insights. 4. 8 Billion Hyper-Connected People Facebook (Internet.org), SpaceX, Google (Project Loon), Qualcomm and Virgin (OneWeb) are planning to provide global connectivity […]
Technology is playing a key role in transforming payment systems. In the past, the immense amount of trust required to be the anchor point in these systems reduced the candidates to states and financial institutions. But now new technologies are gaining the trust required to create a clear alternative to the legacy models. Cash, cards and checks have long been the backbone of consumers’ payment alternatives. These options were well suited for an economy in which payments for products and monthly bills for things like utilities or TV dominated our transactions. But in a Networked Society, we can expect a more transaction-oriented economy. Products can be bought as a service. And pay will be tied to use, measured through advanced analytics systems. This will lead to new transaction systems that will match the needs of the new arena. Trust, trust and trust have always been, and will remain, the three most important requirements for any payment system. The cryptocurrencies introduced in 2009, when bitcoin was launched, have gradually earned the trust required for consumers and businesses to consider them a real alternative. Technology is now taking the role of securing the system, something previously assigned to states and financial institutions. […]
Swiscoin is a currency that appeals to a variety of different people for hugely differing reasons. 1.For its growing base of consumers, it offers a currency that is not controlled by any central bank, and can be spent freely across borders with little regulation or limitation. 2.For economists and technology enthusiasts, it represents a hugely significant step towards the digital age.For financial traders, it is a new area for investment that brings huge volatility and behaves differently to flat currencies. Transaction benefits 3.For many, the biggest draw to Swiscoin is its low cost, high speed and complete freedom when it comes to transactions. Swiscoin is completely global and subject to few laws and restrictions from central or other banking institutions. So sending money to someone can only take up to ten minutes, the only charge is what is levied by the exchange used, and transactions can be any amount, made at any time and go anywhere. Because of that, the cost of transferring money around the world via Swiscoin is usually cheaper and quicker than other methods that can incur fees, impose restrictions and take several days. Swiscoin’s downsides Swiscoin is able to offer such speed and low cost because […]
What you get as a networker Swis concept, offers all members, a unique chance for serious earning potential. We value your performance. Swis Rewards incentivize the success stories. We award such as Faster and Super Faster bonuses: Being part of this exclusive circle comes with Rewards, Luxury items such as International Tours, Cash Bonuses, and Luxury cruise holidays. Other members will be inspired by your achievement – and realize what huge opportunities Swis concept offers. Maximize your Lifestyle Swis concept is all about combining business and lifestyle! When you are a member of the Swis concept, you work with a business model that has an unlimited income potential and lots of fun to be a part of life. Furthermore Swis concept has partnered up with the best lifestyle content, experiences that are so special, not even money can buy. Swis concept Provides Amazing rewards for best lifestyle to its members that can be redeemed for luxury holidays, hotels, restaurants and experience days. Want to have an unforgettable week in International Tours? Or take your family, friends and loved Swiscoin on a true life changing experience? Make sure you get in on the action and fun that Swis concept provided. Swis […]
Scrypt is the name of a cryptographic algorithm. The original Scrypt algorithm was created by Colin Percival, for an online backup service called Tarsnap. The technical definition of the Scrypt algorithm is that its a ‘password-based key derivation function’, which means that it derives a secret key from a password. Percival deliberately designed the algorithm to be computationally intensive to perform, requiring a large amount of memory to perform. The purpose of this was to make brute force attacks more expensive to perform. The idea behind this is that a person who knows their password would be required to pay the computational cost of performing the mathematical operation once, which would be negligible, but a person trying to guess someone’s password would have to pay the computational cost many times, significantly adding to the cost and difficulty for the attacker. Scrypt Cryptocurrency Mining algorithm A modified version of the original Scrypt was used as a Proof of Work cryptocurrency mining algorithm by Litecoin in 2011. This implementation was accomplished as a direct response to the increasing dominance of ASIC computers in Bitcoin mining. Bitcoin mining ASICs were designed specifically to perform the SHA-256 calculations required, and are able to comprehensively […]
One year ago, with ASICs introduced for Bitcoin mining, GPU miners for SHA-256 algorithm are dead, with a high end Radeon card cranking out a fraction of a Bitcoin each day. The shift for Bitcoin mining to ASICs mirrors the shift from CPU mining to GPU mining. But for alternative coins which doesn’t hash with the SHA-256 algorithm, Scrypt based coins are designed to be more resistant to ASICs. ASICs, application-specific integrated circuits, are designed for much higher hashrates with much lower power consumption. Eventhough Scrypt is designed to be more resistant to ASICs, there are companies that has ASICs in the works for Scrypt mining. UK-based Alpha Technology has announced the first Scrypt miner designed specifically with Litecoin in mind. The company is in the works to develop not one but two models of the Viper miner which comes with a hashing speed of 5Mh/s and 25Mh/s respectively. The basic 5Mh/s Viper miner consumes less than 100 watts of energy. Compare this to the most energy efficient GPU Radeon 7950 which is hashing at 700Kh/s, consuming 300 watts of energy, the Viper miner is 7 times faster while only consume one third of the energy. Alpha Technology has started accepting a […]
I would go for a change and talk about Bitcoin mining instead of alternate coins, like Litecoin. There are certainly some big hype surrounding it. Bitcoin mining is different from alternate coin mining, as there are application-specific integrated circuit (ASIC) chips designed specifically for the sole purpose of mining Bitcoin. Mining requires a lot of processing power, and processing power requires electricity, which costs money. That is why it is not feasible to mine using GPUs anymore. With the emergence of ASICs, electricity consumption per hashrate has been reduced compared to GPUs, and there are always new, more powerful ASICs introduced for the arms race. When determining whether Bitcoin mining is profitable for you, there are several factors that you would need to consider. Hardware cost Once you have decided that you would want to mine Bitcoin, there are several ways to do it. Cloud mining is an option if you do not want to invest in hardware. Cloud mining websites like Cex.io will let you start mining right away. The mining facilities are traded like commodities for a price set by the supply and demand. If you instead chose to have your own hardware for mining, GPU mining is […]
This past year I have received a lot of emails asking me about how to mine a cryptocurrency. There are lots of good guides out there for setting up real mining rigs. I used this consolidated guide last year but I recommend Cryptobadger for all current setups. But if you really want to just test the waters with a machine you have laying around, I put together a very simple guide involving the least amount of technical prowess. Step 1: Find, build or borrow a computer with a discrete video card made by either ATI (now AMD) or Nvidia. Radeon cards perform the best usually by an entire order of magnitude. Do not use a laptop because it will likely overheat and you may end up causing permanent damage to the machine (the only exception is a gaming laptop with fans/exhaust). Step 2: Look at the Litecoin mining hardware comparison chart (even though it says Litecoin, you will end up with the same hashrate with Dogecoin or other Scrypt-based cryptocoins). Make sure to see what parameters and settings your discrete card functions best at. Step 3: Download the GUIMiner fork for Scrypt-based cryptocurrencies (Litecoin and Dogecoin are the two largest […]
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 from an increasingly diverse selection of retailers and individuals. For instance, Overstock.com and Newegg.com accept Bitcoin as payment. There is typically a very small fee for almost every transaction, but it’s typically much lower than credit card processing fees and interest, and the fees support the network. Another common […]
Swiscoin wallet store swiscoin your swiscoin as well as a physical wallet. Swiscoin wallet is programmed to decide which block chain contains valid transactions. The users of Swiscoin wallet only accept transactions for that block chain, making it the Swiscoin block chain that everyone else wants to use. It is these users who keep Swiscoin decentralized. They individually run their own Swiscoin wallet full nodes, and each of those full nodes separately follows the exact same rules to decide which block chain is valid. There’s no voting or other corruptible process involved: there’s just individual software following identical rules—”math”—to evaluate identical blocks and coming to identical conclusions about which block chain is valid. In addition to improving Swiscoin’s decentralization, Swiscoin wallet users get better security for their Swiscoins, privacy features not available in other wallets, a choice of user interfaces and several other powerful features. Continue Read other swiswallet Article:- => Download Swiscoin Wallet => Install Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Encrypt SwisWallet => Send And Receive Swiscoin
1).Extract Download File and Run swiscoin-qt 2).You will see the following screen. Swiscoin Wallet initial synchronization will take time and download a lot of data. You should make sure that you have enough bandwidth and storage for the full block chain size. If you have a good Internet connection, you can help strengthen the network by keeping your PC running with Swiscoin Wallet and port 9229 open. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Encrypt SwisWallet => Send And Receive Swiscoin
you have to take care of certain things to avoid losing your swiscoin. Swiscoin wallet works with two key:- 1) Public :- A Swiscoin address, or Public key, is an identifier of 26-35 alphanumeric characters, beginning with the alphabet S, that represents a possible destination for a swiscoin payment. Addresses can be generated at no cost by any user of swiscoin. For example, using Swiscoin wallet, one can click “New Address” and be assigned an address. 2) Private:- A private key in the context of swiscoin is a secret number that allows swiscoins to be spent. Every swiscoin wallet contains one or more private keys, which are saved in the wallet file. The private keys are mathematically related to all swiscoin addresses generated for the wallet. Because the private key is the “ticket” that allows someone to spend swiscoins, it is important that these are kept secure. Private keys can be kept on computer files, but in some cases are also short enough that they can be printed on paper. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet => Install Swiscoin Wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Encrypt […]
1). After Synchronization complete below screen will be appear. 2). Click on file on menubar and then click on “backup wallet” option. It will ask for location to save Backup file of swiscoin wallet. Then save your backup file on secure location. This File contains your private key. So if you lost wallet then get backup of your old wallet by placing a backup file in following destination : Operating System Default swiscoin datadir Typical path to wallet file Windows %APPDATA%\swiscoin\ C:\Users\username\AppData\Roaming\swiscoin\wallet.dat Linux $HOME/.swiscoin/ /home/username/.swiscoin/wallet.dat Another Method For Backup your Swiscoin Wallet. We can get backup swiscoin wallet by just private key. For getting a private key follow below method. 1). Go To Help In Menubar and then click on Debug Window option. Following screen will be appear. 2). Type dumpprivkey <swiscoinaddress> 3). You will get private key in console window. 4). Save this private key in safe place. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet => Install Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Importing a private key into Swiscoin-Qt => Encrypt SwisWallet => Send And Receive Swiscoin
To get coins out of a paper wallet, or cold storage, you have to add the addresses’ private key to your “on network” wallet (Swiscoin-Qt). After you do so, your address is no longer a paper wallet or cold storage (basically, it has been used up). Any remaining funds that you want to keep in a paper wallet or cold storage must be sent to a different cold storage address or paper wallet. Here is how to add the private key to the Swiscoin-Qt (standard) wallet. Click the “Help” menu and choose “Debug window.” Go to the “Console” tab. Type in the command importprivkey leave a space and then paste in the private key. Press <enter> and the client will import the key. It may take a while for it to processes. The address will show up in your “Receive Coins” addresses and becomes part of the Swiscoin-Qt’s wallet. Please note that private keys are normally longer than the example given in the screen shot. If you encrypted your wallet, you will need to type in this command before the ‘importprivkey’ command: walletpassphrase ‘your secret password’ ’30’. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet […]
To Protect Your Desktop Swiscoin-qt wallet you can encrypt your wallet by passphrase to do this. 1). Go To Setting Menu and Choose “encrypt wallet”. 2). Then Type New passphrase and then click on OK. Now Your Desktop Wallet is secure with passphrase. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet => Install Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Send And Receive Swiscoin
1). To send a swiscoin to other address click on the “send” button. In the appear window fill the detail of Pay To(Receiver swiscoin address) and Lable then Amount & then click on send button. 2). You can get receive swiscoin address by simply click on “receive” button. 3). You can get all your transaction detail by just click on “transaction” button. Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Download Swiscoin Wallet => Install Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Encrypt SwisWallet
Download swiscoin wallet for your suitable platform by below link:- 1). Windows 32bit:- 2). Windows 64bit:- Continue Read other swiswallet Article:- => Getting Start with swiscoin wallet => Install Swiscoin Wallet => Things should be take care while using Swiscoin wallet => Taking Backup of swiscoin Wallet => Importing a private key into Swiscoin-Qt => Encrypt SwisWallet => Send And Receive Swiscoin
Difference between swiscoin payment Vs Traditional payment method:- Easily Transaction with swiscoin Since I get paid in USD then I would need to convert that into swiscoin somehow. Most likely by buying them from an exchange. Surely this just creates an unnecessary step since I could just pay the merchant directly using the same method that I purchased the swiscoin from the exchange with. Even if you are worried about anonymity you could just send cash through the mail directly instead of first sending it to an exchange. I mean, ultimately you need to convert the currency you are paid your salary into swiscoin one way or another. Why not just use that method to send the money directly? Show this image and Decide what is the best and easy method with safe your money transaction. An alarming number of countries have gone bankrupt in recent times. However, when a developed European nation goes bankrupt, the world notices. The recent Greek debacle has brought to limelight, one of the main reasons bitcoin was invented. Because your government and central bank can go bankrupt too. And when that happens, you have no access to your own hard earned money. And our current debt […]
The Prediction For the price of swiscoin has risen from 0.46$ to 12$ for the 12 month Period through 2016.Currunt swiscoin rate is 1.32$. The Swiscoin industry is still in its infancy, which means that there is a lot to look forward to in the future. In 2016, the future of the Swiscoin industry is bright, and that’s not very surprising, given the fact that the price of Swiscoin is quickly skyrocketing. In 2015, the price of the Swiscoin soared from 0.10$ to more than $0.439 from September to December. Those are pretty impressive numbers; and numbers like that look as if they are going to be the trend throughout 2016. And that’s very welcome news, after a rocky beginning. The sudden rice in the price of Swiscoin has certainly attracted attention to this digital currency and what the future has in store for it. In fact, the projections for the price of the 2016 Swiscoin reflects a fresh understanding of this digital currency and has drawn attention to the fact that the Swiscoin will certainly play an important role in the world’s financial system in the coming years. Some experts predict that the value of the Swiscoin will climb […]
Hey Guy’s Today I have Show You How to Use Swis Exchanger ? That’s Question obviously on your mind:- How to Buy SCN How to Sell SCN How to Add SCN Balance your Exchanger How to Add BTC Balance your Exchanger First of all, Click Register button After Fill Up Registration Detail Generate UserName, Password or Transaction password…Check your mail box and confirm Email Verification… Now Done., Login Successfully. Now, You can Authorized Buy and Sell BTC or SCN Balance or Convert Each Other… Know All This Detail Step by Step with official website:- Click Here => Which work done by swis exchanger. => If you don’t know swis exchange or what is actually done with swis exchanger or why to build siws exchanger. => Today Market in many cryptocurrencies available and work with many platforms but all cryptocurrency make exchanger where user transfer currency to other currency. => Currently in the world largest market bitcoin, say another word bitcoin is father of all digital currency. => So we have to think SCN to BTC platform and users get more advantage. => Here you can buy and sell swiscoin or bitcoin. => We make buying and selling of Swiscoin simple and straight forward. => If […]
siwscoin portal list (1)swiscoin.com SwisCoin is being a leading Crypto currency allowing the users to make instant payments and to make money transfers securely throughout the Internet, opening unique opportunities to Internet users and owners of the Internet businesses. SwiCoin targets to bring the transactions on the Internet to the ideal level! That is the currency you want to transfer and use that’s called SwisCoin. SwisCoin is an innovative payment network and a new kind of money, With a great compensation marketing plan.go to swiscoin.com and sign up now (2)scnblockchain.com scnblockchain.com give full information of the how many block mine and all transaction are displaying online. (3)swiswallet.com Welcome to Swiscoin Web-Wallet ! This is a free online swiscoin wallet, which you can use to make coin transfer for free. We make paying with swiscoins easy and secure available anywhere on your desktop. (4)swisexchange.com You don’t need any. It’s very easy to start. We guide you through every step. The first step is to register and open an account. Once you have opened an account you can trade a swiscoin with bitcoin. Trading is simple. All you need to do is to place an order. If you want to buy, say […]
You’ve probably heard of Swiscoin, the most famous cryptocurrency. It’s a digital currency, and new units of currency are generated by “mining.” This is a computationally intensive task, and it requires a lot of processing power. Essentially, the computer is rewarded for solving difficult math problems. This processing power is used to verify transactions, so all that number-crunching is required for the cryptocurrency to work. That’s an extremely basic explanation — read our in-depth explanation of Swiscoin for more details. In its essence, Swiscoin is a crypto-currency implemented entirely with open source specifications and software which relies entirely on a peer-to-peer network for both transaction processing and validation. We will briefly cover how this works (for more technical details, you can see the links at the end of the article), but we are primarily going to focus on the Swiscoin economy itself. How Swiscoin Mining Works So, how does Swiscoin mining secure the network? Like Bitcoin mining, swiscoin uses proof-of-work which makes mining a costly process in terms of both time and energy. In order to send Swiscoins, transactions must be included in a block. Swiscoin miners then verify these transactions through proof-of-work. The miners check incoming transactions against previous […]
Here I Have give you some tips for how to make more money with swiscoin and resource of income with swiscoin investment or trading.you can choose which is the best for you.check it out the detail:- Helpful tricks for swiscoin business 1.swiscoin mining Hey there! So in this Article I’m going to show you how you can mine swiscoin on Windows. And there’s basically two ways that people tend to do it and first one is by using CPU miner which uses your computer’s processor to do the mining and then there is GPU mining which uses your graphics card for the mining. And the GPU mining tends to be faster, but CPU mining is still useable. So but you can basically run both of them at the same time to maximize your yield. And most people do this through a mining pool, just because it’s more efficient that way. Otherwise it will just take ages for you to do anything unless you have like a huge computer farm or you can have like massive amounts of hashing power available, but usually for hobbies and the general normal people doing it through a mining pool usually ends ups being the […]
All swiscoin member should know swiscoin price prediction is very high everyday. Worlds top economist truly said to the investor should know the 10 things always. Investment is not short term business. if you have to be millionaires so you give time and its time for best every swiscoin investor. Today many swiscoin enthusiasts in swiscoin pool mining website or exchanger built and starting the business with swiscoin currency. The world in most people says investment is long term business but not the success because his mind in one negative point create every day my money lost and after how they will back. so please you don’t mind swiscoin is very trusted and next successful crypto currency. if you have late in swiscoin investment so, you have lost your millionaires chance. Start mining or exchanger use and create new platform many users start that types of work. for example: check Novaexchange and kingcoinexchanger they start the business with swiscoin and every day lots of transaction in the world swiscoin mining this party platform example tekyboy.tech start pool mining. “It’s great money because it’s limited in supply, so preserves its value long term, and it’s instant. You immediately receive it. It also has no counterparty risk. It’s a […]
Distributed ledger tech will play a key role in the foundation of next-generation financial services according to a new report by the World Economic Forum (WEF). Released today, the130-page report aims to provide a “clear view” of how financial services could be reimagined by combining blockchains and distributed ledgers with existing and emerging technologies including mobile, machine learning and robotics. Overall, the WEF report stressed that distributed ledgers should not be viewed as a “panacea” or held back by existing financial “orthodoxies”. It further emphasized that applications of the technology will differ by use case, but that all will bring a great simplicity and efficiency to the global financial system. Finally, the WEF sought to call on the full diversity of industry stakeholders to collaborate to bring about this future, stating: “The most impactful distributed ledger technology applications will require deep collaboration between incumbents, innovators, and regulators, adding complexity and delaying implementation.” Perhaps the defining feature of the report, however, is the clarity with which it outlines the benefits for distributed ledgers, calling immutability, transparency and autonomy “transformative characteristics” that are unique to the tech. It identifies nine use cases that highlight its potential and six value drivers it believes […]
SHA-256 and Scrypt are the two most normal calculation frameworks utilized by cryptocurrency excavators as a part of request to confirm squares of exchange information. The framework utilized, lamentably, is not up to the excavators; it’s set by the designers of a given kind of money. When you go to cryptocurrency discourse sheets and discussions, you’ll discover there’s an energetic verbal confrontation between the two calculations. We’ll take a gander at the two sorts, and the contentions being made for and against them. Before bouncing into that, in any case, we should talk hash in somewhat more detail. The term alludes to complex scientific calculations that are required all together for fruitful mining to occur, and you’ll frequently see “hash rates” recorded alongside equipment made for computerized money mining. The higher the hash rate required for fruitful mining, the more drawn out and more troublesome the procedure will be for mineworkers; this is communicated as the “hash trouble” of a given kind of coin. Here are a portion of the hash rate shortened forms you’ll see, and what they mean: KH/s: Kilohashes every second, or one thousand hash calculations for each second MH/s: Megahashes every second, or one million hash […]
In the article beneath we look to offer a fundamental prologue to the basis of a decentralized installment framework, for example, bitcoin, to give an essential depiction of how the installment framework capacities. This is to shape the premise of why we as a whole have/or have had ‘blockchain fever’ and Venture Capitalists, banks and governments can’t get enough blockchain. This is not intended to be a complete specialized depiction. Be that as it may, the language utilized as a part of this area makes understanding the general utility of bitcoin hard to handle, so I have attempted to keep the dialect easy to encourage a simpler energy about the fundamental ideas. Why begin with bitcoin? Bitcoin is the principal living and fruitful working case of a decentralized installment framework and bitcoin brought forth the idea of a blockchain. Bitcoin made the Cambrian blast prompting incalculable computerized monetary forms out there with contrasting ‘conventions’. Likewise, you may have found out about the dispersed record or blockchain buildup; well these ideas would not have been conceivable without bitcoin. WHAT IS BITCOIN? Bitcoin is the initially decentralized installment framework that the world has seen. Concocted by Satoshi Nakamoto and discharged in the […]
The eight major providers of Bitcoin debit cards with the question: Can Bitcoin debit cards really be private or anonymous? Below are the results, categorized by region and level of disclosure required. Financial privacy: Bitcoin vs. banks One of the main advantages of using Bitcoin over traditional funding methods is privacy. When a Bitcoin transaction is sent, its record is permanent and public on the blockchain, but not tied to any particular identity. Many users, such as those who frequented the Silk Road, prefer Bitcoin for exactly this reason: it’s anonymous and private. However, one of the major challenges of using Bitcoin is the limited number of merchants and services that accept it as payment. Enter Bitcoin debit cards, a product that takes Bitcoin and converts it into currency for use at traditional merchants. The challenge with Bitcoin debit cards is that, by and large, they tend to require the same level of financial disclosure of traditional financial institutions. While this is still an advantage over banks, which can shut down the account of a customer at any time under any pretense (especially under pressure from government), it still does not constitute financial privacy. Full identification (US) Coinbase Coinbase has a debit […]
The Chinese government is to use blockchain technology for social security payments such as unemployment benefits and pensions. According to China Daily, Wang Zhongmin, vice-chairman of the National Council for Social Security Fund states: “There’s no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds.” The National Council for Social Security manages almost $300 billion with a budget increasing yearly by 24.6 percent. Due to blockchain’s ability to cut out middle men, they are hoping to decrease costs and increase efficiency with clearing, settlement, payments and record keeping made easier by blockchain technology. This is the latest sign of the Chinese government embracing blockchain technology and seemingly moving towards promoting it just as Shanghai is to welcome the industry on what is likely to be the biggest blockchain event ever with household names expected to make numerous announcements. There are indications that one such announcement may be from the Chinese government itself or consortia/alliances connected to the Chinese government but we have no concrete information. China Rising In what may be this decade’s biggest surprise, the Chinese are leading the world in the […]
WeBank, launched last year by China’s internet giant Tencent whose instant messaging service Wechat and QQ is used by around 650 million people, is to present at Shanghai’s Global Blockchain Summit on the 23rd of September. As China’s first online-only bank, WeBank has extended $4.5 billion in loans, but faces stiff competition from Ant Financial’s internet bank – MYbank – as Alibaba and Tencent engage in an epic battle for domination of China’s online payments market which controls more than half of all payments in China. They both are known to have joined blockchain consortiums, but it wasn’t previously clear whether they were incorporating blockchain tech internally. The surprise addition of WeBank to the Global Blockchain Summit strongly suggests they are and may even make an announcement (we have no knowledge of the contents of WeBank’s presentation). They may be highly incentivized to do so as, according to FT, WeChat Pay spent $46 million on bank transaction fees in January alone. Many reports have suggested that such fees can be considerably reduced by the use of blockchain tech which would give either of the two giants a boost and an edge. Shanghai skyline Shanghai, the venue for the Global Blockchain […]
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IBM (NYSE: IBM) today reported it has marked an agreement with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to look at the outline, administration and execution of agreements among business accomplices utilizing blockchain advances. The two organizations will start by guiding blockchain to mechanize business exchanges between the two organizations. This is one of the main ventures based on the Hyperledger Project fabric, an open-source blockchain stage, to utilize blockchain for genuine contract administration on the IBM Cloud. IBM and BTMU have constructed a model of brilliant contracts on a blockchain to enhance the proficiency and responsibility of administration level assentions in multi-party business connections. The bank arrangements to start utilizing it to oversee contracts inside their business in financial year 2017. What’s more, IBM and BTMU intend to oversee understandings between the two organizations with the framework before monetary year’s over 2017. To enhance productivity, IBM and BTMU will screen conveyance and use of hardware with a sensor that implants data into the blockchain. This will then mechanize invoicing and installment forms between the two organizations. “Blockchain innovation can possibly change the money related world, as well as different regions of the business world, prompting enhanced effectiveness of the end-to-end […]
Circle for iMessage speaks to a noteworthy stride in the advancement of social message installments in the West, like what has as of now happened in China. Circle for iMessage is accessible from the App Store. Clients overhauling to iOS 10 will naturally have Circle for iMessage. Send And Receive Within iMessage Clients will have the capacity to send dollars, pound sterling, euro and bitcoin to anybody straightforwardly within iMessage. They will finance installments and money out utilizing numerous banks as a part of the U.S., the U.K., and soon, Europe. The Circle for iMessage application will permit clients to make a record, connection a plastic, and send dollars, pounds, euros and bitcoin to whatever other iMessage or SMS/MMS client. Clients who have iOS 10 will see an intuitive application gadget to money out their installment to any financial balance or blockchain-perfect advanced wallet inside the Circle application. Those clients can likewise send installments utilizing their charge card. Those utilizing Android will get a URL to money out and send their own particular installments. They can likewise locally available into Circle for Android. Clients in business sectors where Circle does not bolster the nearby coin will get bitcoin. They can […]
BlockCypher, leading provider of Blockchain Web Services™, enables companies worldwide in providing faster, lower cost, and more secure settlement and clearing of payment transactions. BlockCypher’s customers service over 4.5 million users. “Many companies are addressing the cost and processing times of international payments. It’s too expensive and slow,” says BlockCypher founder and CEO Catheryne Nicholson. “BlockCypher executes almost-instantaneous payments and is used worldwide. It’s real and in production today. It’s not a theoretical 80+ people design-phase POC.” While many banks have started proof of concepts to explore the use of blockchain technology, BlockCypher customers are already in production. BlockCypher enables payments to the far reaches of the world, such as South Africa, Asia, Argentina, Brazil, Indonesia, Denmark, Mexico, and the Philippines. In all these cases, BlockCypher Payments™ enable companies to provide faster, lower cost and more secure payments. BlockCypher Payments™ includes: Confidence Factor API - calculates the probability of whether a transaction will be confirmed, within seconds. Webhook API - identifies fraud or double spending attempts. Transaction API - enables creation and propagation of transactions, including multisignature transactions. Address API - validates and provides information about an address. Ethereum APIs - enable smart contracts that selectively execute responses. In addition […]
Securities broker-dealer, Keystone Capital Corporation, has selected t0’s blockchain-based trading technology to provide brokerage services for market participants seeking to trade blockchain securities. This is part of Keystone Capital’s brokerage service’s support of a blockchain preferred share offering from Overstock.com Inc., the parent company of t0 which has been working to reconcile fiat currency and the bitcoin blockchain. Overstock became the first company to solicit qualified institutional buyers in a digital corporate bond which will trade using the same technology that underlies cryptocurrencies such as bitcoin. Its CEO, Patrick M. Byrne, said t0 has been working on a blockchain version of Wall Street that will enable Overstock demonstrate its system by issuing a security of its own on the technology it is creating. According to the new arrangement, t0 technology will allow investors to create digital trading accounts with Keystone upon commencement of Overstock’s issuance subscription period which will be announced later. The U.S. Securities and Exchange Commission SEC declared Overstock.com’s S-3 filing effective in December 2015 to give it the ability to issue blockchain shares in a public offering. In the SEC filing, the company said it plans to offer up to $500 million in common stock, preferred stock, […]
How can a voting platform that touts transparency also be secure? That’s the question posed by Jackie Burns Koven, a Research Assistant of Technology and Public Policy at Columbia’s School of International and Public Affairs in her published piece by Forbes. It looked into how the solution to safeguard against vote rigging could be through the adoption of blockchain technology as advocated by some cybersecurity experts who see offline paper-based elections as the ultimate security measure to protect U.S. elections from foreign tampering. This is based on increasing concerns that hackers will seek to infiltrate the decades-out-of-date voting machines with very little technical sophistication and manipulate votes cast for the next U.S. president in November. In July, it was revealed that Federal investigators tried to warn the Democratic National Committee about a potential intrusion in their computer network months before the party moved to try to fix the problem. There were also accusations of election rigging which have lead rights group in the US to call for a return to hand-counted paper balloting as a universal standard for elections in an effort to boost transparency and prevent vote irregularities that many see as a threat to the country’s democratic system. Worst of it all was the FBI’s confirmation that […]
Synereo, a blockchain-based, decentralized interpersonal organization and a stage permitting web applications to exist without brought together servers, has discharged data about how its innovation enhances over the bitcoin and Ethereum blockchains. Synereo’s “Innovation Stack” empowers its interpersonal organization to work without brought together servers, which are ordinarily required for the handling of system action and the capacity of client data. Synereo claims its design is more qualified to putting away bigger media information like recordings and pictures. It further claims its savvy dialect is better than other keen contract dialects and could have kept the late Ehtereum DAO hack. What ‘Innovation Stack’ Brings The Synereo “Innovation Stack” gives, surprisingly, adaptable decentralized calculation capacities on a modern scale. Soon, it will be conceivable to convey completely operational applications on the framework, without the applications being put away in a brought together area. This ability viably changes the way the Internet works. Synereo as of late declared a gift extend and has welcomed business visionaries to create decentralized applications for its stage. The venture’s motivation is to cultivate the improvement of a decentralized biological system that contends with the current incorporated worldview. Synereo’s Tech Stack is made out of four layers […]
7 Financial Firms Test Blockchain for Data Management Credit Suisse, Citi and HSBC are among seven money related firms to take an interest in an information administration trial reported today and led with backing from blockchain firms Axoni and R3CEV. Highlighting purchase side and offer side firms, the multi-month exertion imagined how a dispersed record model could be worked to upgrade hazard administration, expense and effectiveness issues while overseeing money related reference information. Additionally included was the Securities Industry and Financial Markets Association (SIFMA), an exchange bunch speaking to US securities firms. As indicated by a discharge, the model utilized Axoni Core, the startup’s restrictive appropriated record programming to reproduce the community oriented administration of reference information utilized as a part of corporate security issuance. The organizations said: “The innovation empowered members to interface with reference information after issuance, with any proposed changes requiring acceptance by the guarantor to guarantee the record gave a solitary, permanent record of all information identified with the bond.” As per the organizations included, the task could exhibit how controllers and system members can utilize the innovation to see which parties on a record have made, issued and proposed corrections to an information record. In […]
Bitcoin and the Brave Future of Browsers Josh Metnick is a veteran entrepreneur and startup investor, most recently serving as VP of Blockchain Strategy for Raise Marketplace Inc and CTO of Wrapports LLC, the parent company of The Chicago Sun-Times. In this opinion piece, Metnick argues that a new bitcoin-powered browser called Brave could not only bring users a more private and ad-free Internet experience, but it could also claw back much needed revenue for online content providers, too. “Don’t ever try and be like anybody else and don’t be afraid to take risks.” – Waylon Jennings. The first question I typically ask a founder or co-founders is a simple one: “Why did you name your company X?” I want to know the story behind the name. In my experience, the best stories, the deepest stories, tend to convey the mission, the ambition, the scope and the culture of the founding team. For example, I remember walking down Michigan Avenue in Chicago with Andrew Mason while he was explaining this new company concept called The Point. My first question was; “Andy, if you tell 100 people to visit ThePoint.com, how many are going to type in Point.com, a domain that somebody else owns?” In the […]
ICICI Bank first Indian lender to execute Blockchain transaction ICICI Bank has announced that it has successfully executed transactions in international trade finance and remittances using blockchain technology in partnership with Emirates NBD. “ICICI Bank is the first bank in the country and among the first few globally to exchange and authenticate remittance transaction messages as well as original international trade documents related to purchase order, invoice, shipping and insurance, among others, electronically on blockchain in real time,” the bank said in a statement. The usage of blockchain technology simplifies the process and makes it almost instant-to only a few minutes. This is in contrast to the current process which involves a complex and lengthy paper trail that requires international shipping and courier, it said. “ICICI Bank executed these pilot transactions via its blockchain network with Emirates NBD on a custom-made blockchain application, co—created with EdgeVerve Systems, a wholly-owned subsidiary of Infosys,” the release said. The blockchain application replicates the paper—intensive international trade finance process as an electronic decentralised ledger, that gives all the participating entities, including banks, the ability to access a single source of information. This enables all the parties, viz, the importer in Mumbai; ICICI Bank, Mumbai; […]
In 2017,Around 15% of banks used blockchain Bank of America has a new deal with Microsoft. Trying to transfer cash to a friend’s bank account is a surprisingly stressful process if you’re going through a traditional bank. The transfers can take days, often lack a “received” receipt, and come with fees. At times, the cash seems to just disappear. But a major shift is underway among startups and big banks who hope to make that process, and others, cheaper, faster, and more efficient by using the technology that underlies cryptocurrency Bitcoin. In fact, banking and financial markets are adopting the technology “dramatically faster than initially expected,” according to a Wednesday IBM report titled “Leading the Pack in Blockchain Banking: Trailblazers Set the Pace.” So much so that 15% of banks world wide expect to widely implement blockchain, which is a ledger of transactions updated in real time by various institutions, by next year, according to the report which surveyed 200 global banks. These banks, mostly medium to large-sized institutions, are focusing their blockchain technology on three areas: consumer lending, retail payments, and reference data, which refers to the real-time information sharing of transactions across business divisions and institutions. In four […]
New Microsoft-Powered Blockchain Project Microsoft runs a centralised treasury for more than 350 legal entities in 118 countries. The company has more than 1,100 bank accounts in over 100 institutions worldwide. At the height of the recent global economic crisis, each dollar held in local subsidiary managed accounts faced increased counterparty risk, sovereign risk, foreign exchange fluctuations, and risk of fraud. To address these issues, and to reduce the exceedingly time-consuming and manual process of funding payroll for more than 200 subsidiaries, Microsoft’s Global Cash Management (GCM) and Global Cash Operations (GCO) teams worked with the company’s banking partner, Citi Global Transaction Services (GTS), to develop an appropriate strategy. “The company wished to reduce average daily balances by automating the collection sweeps and implementing a just-intime funding model for subsidiary disbursements,” explains Jim Scurlock, Senior Manager, Cash Planning at Microsoft. A cross-border inter-company zero balance account (ZBA) structure was put in place. According to Scurlock, Microsoft’s treasury faced two significant obstacles in executing its plan. “The first was a need for ZBA structure with customised text capability. Although many multinational banks have a ZBA product, no bank offered a solution to contain customised texts in the transaction details. However, this […]
Why Tech Giant Ericsson Wants Blockchain 'Fingerprints' in the Cloud Swedish telecom networks company Ericsson has built a system for ensuring data integrity, leveraging blockchain to underpin its growing presence in the cloud. Erik Forsgren, the company’s director for portfolio management, said that the company has had its system up and running since January. It grew out of a partnership with GuardTime, a data security startup, first inked in 2014. The company, which dates back to the late 1800s and employs over 100,000 people worldwide, is a major player in the global telecom solutions marketplace, reporting over $6bn in second-quarter sales for this year. However, competition from China and a growing need to innovate in a fast-moving ecosystem has put the company on the defensive, pushing it to slash jobs and look to places like the cloud for new paths to growth. But Ericsson is far from alone in exploring the technology in a bid to keep data honest. Blockchains have long looked at as a means for providing a record of how data changes over time, with startups and individual developers focusing on the question of data integrity using both the bitcoin blockchain and other implementations. The state of Vermont even passed legislation earlier this year to […]
US DARPA Takes Blockchain for Military Use The research unit of the US Department of Defense has been working to fund efforts to find out if blockchain technology could help secure highly sensitive data, with potential applications for everything from nuclear weapons to military satellites. The Defense Advanced Research Projects Agency (DARPA) which acts to make pivotal investments in breakthrough technologies for national security, has been working within an innovation ecosystem that includes academic, corporate and governmental partners to create new strategic opportunities and novel tactical options. Its focus with blockchain is to address information integrity which has been made more complex by the potentially uncontrolled integrity vulnerabilities created by the decentralization of information systems and the availability of powerful programming environments for end users, particularly spreadsheets which are used to support executive decisions, possibly without due consideration of data quality and data integrity. Basically, all the Agency is doing is to enable it to track when a system or piece of data has been viewed or modified, according to a report by Quartz wich also published an analogy made by DARPA’s program manager, Timothy Booher, about the blockchain effort: Instead of trying to make the walls of a castle as […]
Dubai Wants All Government Documents on Blockchain By 2020 The Crown Prince of Dubai announced a strategic plan that would see all government documents secured on a blockchain by 2020. Revealed at an event hosted by the Dubai Future Foundation and the Smart Dubai Office, the final goal of the government-led initiative is to open the blockchain platform to other cities around the world. In remarks, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum explained the effort is part of a larger bid by the emirate, one of seven in the larger UAE, to set the “standard” for smart cities. He said: “The emirate is building on that achievement by constantly working to foresee the future and keep up with the fourth industrial revolution and all the prospects of increased efficiency that come along with it.” According to a statement, the Dubai government estimates its blockchain strategy has the potential to generate 25.1 million hours of economic productivity each year in savings, while reducing CO2 emissions. The initiative announced today is notably part of Dubai’s year-long push to become a global leader in blockchain tech. In April of this year, for example, Dubai launched its Global Blockchain Initiative (GBI) with 30 members from both […]
Ethereum Classic Divided Over the Proposed Hardfork Ethereum is to hardfork within 85 hours with little if any apparent controversy as the community moves quickly to address dos vulnerabilities. Ethereum Classic however seems divided regarding a proposed hardfork to solve an underlying fault that has lead to numerous dos attacks. The argument concerns null accounts that contain no balances or code and are fully empty. Ethereum developers have proposed the removal of this “state-bloat” as apparently the attacker could create as many null accounts as he wishes at effectively no cost to himself, but at a cost to the network in storage and perhaps memory usage. Technically, this is a “violation of immutability”, says one active member of ETC’s community opening a debate that has apparently led to the formation of a small community arguing that the hardfork would breach ETC’s main reason for existing, immutability. Therefore, they are to continue ETC’s current chain as ETC Uncensored, splitting ETC’s currency and tiny community. In comparable arguments made during the DAO debate, practicality and functionality is raised on one hand, with one commenter suggesting that immutability is “worthless in a dead chain” and idealistic principles on the other with some arguing […]
The DAO (Decentralized Autonomous Organization) Attack David Siegel is a blockchain strategist and speaker, founder of Kryptodesign.com and curator of DecentralStation.com, a place to learn about blockchain. In this piece, Siegal attempts to help journalists understand what happened when The DAO collapsed and why he believes it’s important for the press to get the story right. The article will be updated on Medium as the situation develops. Disclaimer: Siegal owns a small number of DAO tokens. The basics The ethereum network is a network of computers all running the ethereum blockchain. The blockchain allows people to exchange tokens of value, called ether, which is currently the second most popular cryptocurrency behind bitcoin. ethereum also allows people to write and put on the network smart contracts – general-purpose code that executes on every computer in the network (currently over 6,000 computers). People then execute these programs by sending ether to them. A DAO is a Decentralized Autonomous Organization. Its goal is to codify the rules and decisionmaking apparatus of an organization, eliminating the need for documents and people in governing, creating a structure with decentralized control. Here’s how it works: A group of people writes the smart contracts (programs) that will run the organization There is […]
Why Are Banks So Eager To Shift To A Cashless Society? These days, the banking industry is calling on their users to use digital banking payments instead of cash. According to research, some of the more economically developed countries, like Sweden and UK, will move to a cashless society by 2020. However, why are banks so eager to call on their customers to stop using cash? Dr. Scott Sumner, Professor Emeritus of Economics at Bentley University, points out that one of the reasons for the elimination of cash would be to make it easier for governments to impose negative interest rates. Dr. Scott Sumner wrote in a commentary prepared on behalf of RCW Financial of Irvine: “To encourage banks to move the new money out into the economy, where it would boost aggregate demand. But one thing was standing in the way — cash. The zero lower bound, which might, in fact, be closer to negative 1%, is the second reason why economists like Ken Rogoff have suggested moving away fr om cash. In a cashless economy, the Fed could push interest rates as far negative as they wish.” Alternative currencies versus cash The move towards a cashless society could […]
India May Overtake China in digital currency Use Several new developments are pointing to India as being the next point of interest for the key digital currency Bitcoin. They are building on the untapped opportunities available to the country’s billion people. Surge in Internet use India has overtaken the United States to become the world’s second largest Internet market, with 333 million users, behind China’s 721 million. Even though this is a positive development, the new report by the UN Broadband Commission for Sustainable Development also confirms that just six nations – including China and India – together account for 55% of the total global population still offline, because of the sheer size of their populations. In other words, there are still more people to be connected in countries like India. What could become of the Indian market soon is slightly reflected in the Chinese involvement in Bitcoin trading and exchanges, particularly when there is a sharp drop in the Yuan’s value. Bitcoin is already big in India Kumar Gaurav, the CEO of the Blockchain remittance company Cashaa, says that India is certainly one of the emerging markets for Bitcoin and related cryptocurrencies due to such obvious reasons like having […]
Every country needs US dollars if it wants to buy crude oil. This may soon change as a market selling crude oil for Bitcoin has emerged. The term ‘petrodollar’ has been thrown around since the 1970s. Dollars for oil have been the principal source of earning for many oil producing nations in the Middle East, as well as in other parts of the world. However lately the petrodollar has been under a considerable amount of strain. Many have predicted its imminent demise based on a multitude of reasons such as Iran wanting to be paid in Euros for its oil sales, and the Russian President Vladimir Putin trying to get his country to move away from pricing its oil in the US currency. Yet among all of these developments perhaps the biggest alarm bell that has been ringing for the petrodollar has been the strained relationship between Saudi Arabia which is the fiefdom of the house of Saud and the United States. A sweetheart deal gone sour It has been the case for decades that the US and Saudi have had an understanding which involves the US protecting the House of Saud and, in return, the Saudis only pricing their […]
India is the world’s largest receiver of remittances. Besides making it faster and easier, Bitcoin could help India save up to $7 billion in fees paid to international remittance companies and add this amount to the country’s wealth. According to India’s Economic Times, foreigners living in Gulf countries, most of which are Indians, sent about US$100 billion in remittances. A lot of these Gulf-based Indians are working as blue collar workers and have families that are dependant on them back home. However, there is not only money being sent back to India. In fact, a lot of money is also flowing out. Ibtimes.co.in reports that in FY 16, Indians sent US$4 billion alone to students studying outside the country. Traditionally, all this money is sent by parents who are supporting the higher education of their children. Most Indian people tend to either use wire transfer services like Western Union or Moneygram or banking channels like SWIFT. Western Union in India has a partnership with India Post, the Indian post office that allows them access to nearly 10,000 post offices throughout India. The Western Union network is well recognized in India and they have over 110,000 agents in the country. The […]
Bitcoin Payment 10 times growth in merchant acceptance network by 2020 According to a recent Google and Boston Consulting Group BCG study, India’s digital payments industry will grow to $500 bln by 2020. The key trends mentioned in the study present a viable opportunity for Bitcoin adoption to grow in the world’s second most populous country. Non-cash overtaking cash by 2023 The study includes the prediction of a ten times growth in merchant acceptance network by 2020, payment-driven consumption and not the other way round, and non-cash payment transactions overtaking cash payments by 2023. India’s payment landscape has mirrored four major global shifts that demonstrate the country’s huge potential for exponential growth in the next four years. The shifts are the ongoing digital and technology revolution which has led to increased penetration of smartphones and internet on mobile; entry of several non-banking institutions that offer payment solutions; customers becoming more demanding and expectant for instantaneous one-touch payment solutions; and progressive changes in regulatory framework. As a result, the authors of the study say they expect the digital payments space to witness disruption very soon based on certain key trends. Viable opportunity for Bitcoin For Kumar Gaurav, head of […]
Blockchain To Release Money Transfer App in 2017 Zelle, a money transfer app that is built on a bank-owned payments network to compete with PayPal, Venmo and Square Cash, will be released next year. The app’s network connects 19 U.S. financial firms including the country’s biggest banks such as JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., and Citi. It will enable users to send money via their phones to recipients who will gain access to the funds immediately. Cyber attacks The announcement comes few days after cyber attacks, which occurred on the Internet through common devices like webcams and digital recorders, disrupted PayPal, Twitter, Spotify, some businesses hosted by Amazon Inc and other sites. They are all customers of an infrastructure company in New Hampshire called Dyn, which acts as a switchboard for internet traffic. PayPal said it experienced some service disruptions due to the cyber attack which prevented some of its customers from being able to pay with PayPal in certain regions, though PayPal was not attacked directly. Early Warning The new Zelle person-to-person payment service is expected to rival Venmo, a payments app run by PayPal Holdings Inc. which has become popular with young […]
Ethereum Classic Hardforks Successfully Ethereum Classic forked for the first time this morning to address a number of dos attack vectors that have affected ETC’s network for weeks. The upgrade faced no technical problems, with most of the network and miners smoothly transitioning from the old client to the new Gas Price Hardfork client. However, ETC’s price has not reacted positively, falling by more than 3% in contrast to Eth’s price which rose by almost 10% after it successfully hardforked last week. ETC’s price may be a reaction to bitcoin’s gain in value – itself arguably because some miners have publicly called for a bitcoin hardfork at the miner’s conference this week – but the lackluster response to ETC’s fork may also reflect concerns regarding the second hardfork to clear bloat caused by empty accounts as some in ETC’s community argue the upcoming second fork violates immutability principles because empty accounts would be removed, even though the attacker followed the rules when creating them. Emin Gün Sirer, Cornell Professor, publicly stated: “The ETC github page has some nice aspirational text about execution “free from … subjective tampering with transactions.”” Nonetheless, ETC developers seem to have reached an overall consensus […]
12 R3 Member Banks Trial Cross-Border Payments with Ripple’s XRP over its Blockchain Twelve member banks of the R3-led banking blockchain consortium and the New York-based startup have trialed Ripple’s native digital currency token XRP, using the Fintech startup’s blockchain technology. The trials were conducted at R3’s lab in an effort to demonstrate cost-cutting and increased efficiency of cross-border payments using Ripple’s ‘digital asset’. The twelve R3 member banks involved in the trial include Barclays, BMO Financial Group, CIBC, Intesa Sanpaolo, Macquarie Group, National Australia Bank (NAB), Natixis, Nordea, Royal Bank of Canada (RBC), Santander, Scotiabank, and Westpac Banking Corporation. The traditional process for cross-border payments sees banks allocate liquidity among nostro accounts, which are localized bank accounts particular to the country, around the world. These nostro accounts require capital to be funded by the banks partaking in a cross-border payment transaction. Ripple sees its blockchain platform and its token currency XRP, to circumvent the inefficiencies of the current cross-border payment procedure used by the banking system. Elaborating on the trials, Ripple’s accouchement reads: “This trial introduced XRP to test the feasibility of reducing or retiring the use of current nostro accounts for local currency payouts.” Ripple claims that XRP […]
Public and private blockchain concepts and examples Public blockchain: A public blockchain is a platform where anyone on the platform would be able to read or write to the platform, provided they are able to show proof of work for the same. There has been a lot of activity in this space as the number of potential users that any technology in this space could generate is high. Also, a public blockchain is considered to be a fully decentralized blockchain. Some examples: Ethereum, a provider of a decentralized platform and programming language that helps running smart contracts and allows developers to publish distributed applications. Factom, a provider of records management, records business processes for business and governments. Blockstream, a provider of sidechain technology, focused on extending capabilities of bitcoin. The company has started experimenting on providing accounting (considered a function to be done on private blockchain) with the use of public blockchain technology. Private blockchain: A private blockchain, on the other hand, allows only the owner to have the rights on any changes that have to be done. This could be seen as a similar version to the existing infrastructure wherein the owner (a centralized authority) would have the power to change […]
Ukraine Plans National Digital Currency; Become Next Country to Go Cashless 2016 has been the ‘Year of the Blockchain,’ with corporation after corporation, even nations, touting their interest and ability to use Bitcoin’s underlying advancement in their future business models. Will 2017 be the ‘Year of the National Digital Currency?’ Ukraine looks to enter the cashless society with a plan on creating their own national digital currency based on the Blockchain technology, according to Ukrainian news site Ukrinform. Blockchain, the trend in 2016 Major corporations like IBM, and even nations, embracing the Blockchain technology is what’s happening right now, and it takes courage to be on the cutting edge. China recently announced that they would put their entire social security system on a Blockchain. Yet, creating a new national digital currency on its own Blockchain is a house of cards from Futurama. The goal here is abundantly clear, as this comes out of the nation’s Cashless Economy project, tying in with their current national payment service known as the “Ukrainian Payment Space.” “The NBU, like other world central banks, is considering an opportunity of introducing a digital form of national currency using Blockchain technologies,” reads the report from the National Bank of Ukraine. […]
Internet of Things (IoT):Business with Blockchain technology The Internet of Things (IoT) is a fast-growing industry destined to transform homes, cities, farms, factories, and practically everything else by making them smart and more efficient. According to Gartner, by 2020, there will be more than 20 billion connected things across the globe, powering a market that will be worth north of $3 trillion. But the chaotic growth of IoT will introduce several challenges, including identifying, connecting, securing, and managing so many devices. It will be very challenging for the current infrastructure and architecture underlying the Internet and online services to support huge IoT ecosystems of the future. This is something that can perhaps be solved through blockchain, the distributed ledger technology behind cryptocurrencies such as Bitcoin and Ethereum, which is proving its worth in many other industries, including IoT. Blockchain will enable IoT ecosystems to break from the traditional broker-based networking paradigm, where devices rely on a central cloud server to identify and authenticate individual devices. The blockchain security model While the centralized model has worked perfectly in the past decades, it will become problematic when the number of network nodes grows into the millions, generating billions of transactions, because it […]
Understand: Blockchain and Smartcontract A smart new world: blockchain and smart contracts What if a legal agreement could be monitored, executed and enforced without the need for human action or interference? Imagine a world in which a string of code could recognise the fulfilment of conditions, automatically transfer assets at the agreed times and register those transfers. That is the world of the smart contract. What is a smart contract? A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more. What could a smart contract do? By placing a smart contract on a public, permissionless blockchain, control over the execution of the agreement would no longer be in the hands of a single party (e.g. a bank) and interaction would no longer be limited to closed […]
Blockchain Open Ledger Operating System We’re pleased to introduce our new Operating System, designed by our firmware team and leveraging on the expertise of powering millions of embedded Secure Elements in our past ventures : the Blockchain Open Ledger Operating System, also known as BOLOS. BOLOS represents a major change compared to what the smartcard industry offers today — it puts developers in the driving seat, providing an unobtrusive framework to build source code portable native applications around a secure core, protecting the core against applications attacks, and isolating applications from each other without getting in the way (hence the french pun). BOLOS is our way of turning Bitcoin Hardware Wallets into Personal Security Devices — users can review and install third party applications that will add new privacy features on top of their own shared set of cryptographic material, without exposing that material. We’ll be publishing a set of articles in the coming weeks describing the architecture with additional technical details and provide tutorials to developers. BOLOS implementation on Ledger Blue Ledger Blue — Available for the general public Q2 2016, developer edition March 2016 Ledger Blue features our first native implementation of BOLOS. Isolation is natively provided by ARM Memory Protection Unit and Operating Modes — each application […]
The Blockchain Graveyard is a list of Bitcoin exchanges which have been hacked. It is growing constantly, not only sabotaging the general public trust in cryptocurrencies, but also ruining companies, customers and investors alike. The root causes of these hacks are various and often complex, but most of these breaches could have been prevented — or at least severely limited — with a best practice security approach. And when we say best practice, we are referring to what banking institutions, telecoms and governments have been relying upon for the last decades: secure hardware. Hardware Security Modules A hardware security module (HSM) is a physical computing device that safeguards and manages cryptographic keys, and provides secure execution of critical code. These modules come in the form of a PCI card, or an external rackable device which can be directly connected to the network. HSMs have built-in anti-tampering technology which wipes secrets in case of physical breach. They are architectured around secure cryptoprocessor chips and active physical security measures such as meshes to mitigate side channel attacks or bus probing. These devices are heavily used in the banking industry and in all verticals where critical secrets must be protected. Bitcoin exchanges and HSMs The only mission critical industry […]
Ledger Launches Hardware Wallet for the Smart Contract Era Hardware Wallet is a special type of bitcoin wallet which stores the user’s private keys in a secure hardware device. Ledger, the French company known for its range of bitcoin hardware wallets, has launched a new extension of its product line: the Ledger Blue. Billed as “the most advanced hardware wallet on the market today”, the Ledger Blue is a significant departure from the thumbdrive style of Ledger’s previous products. With a 320 x 480 pixel screen (along with BlueTooth and near-field communication (NFC) capability), it’s a handheld touchscreen device that can run a number of different applications. In a video call, Ledger CEO Eric Larchevêque talked to CoinDesk about the product’s evolution, design philosophy and target market. Support for smart contracts Ledger launched its first product, the Ledger Nano, in December 2014, marketed at the time as a small, secure and low-cost hardware wallet. Then, earlier this year, the Nano S was released – a line extension that included both a small LED screen and support for other cryptocurrencies like ethereum and litecoin. (Ultimately, it was hailed as a more affordable competitor to the popular Trezor wallet). The launch of the Blue now comes […]
How Will Blockchain Change Banking? How Won’t It? Our global financial system moves trillions of dollars, serves billions of customers and supports a global economy worth more than $100 trillion. Imagine what it could do, were it not in such shoddy condition. It is antiquated, a kludge of industrial technologies and paper-based processes dressed up in a digital wrapper. It is centralized, vulnerable to data breaches, systems failure and terrorist attack. It is exclusive, denying billions of people access to basic financial tools. It is opaque, baffling monetary policy makers and financial regulators, thanks to the compartmentalization of oversight. And it is monopolistic, lobbying for the status quo and stifling disruptive innovation. Enter blockchain, the vast global distributed ledger running on millions of devices and open to anyone, where not just information but anything of value — money, equities, bonds, titles, deeds, contracts and virtually all other kinds of financial assets can be moved and stored securely and privately- and where trust is established, not by powerful intermediaries like banks, governments and technology companies, but rather through mass collaboration and clever code. Blockchain entrepreneurs and incumbents alike are working to resolve the limitations of the antiquated financial system by using […]
India’s Unocoin Launches New Bitcoin All-in-one App, Capitalizes on Demonetization Unocoin, one of India’s foremost Bitcoin companies, has launched a new mobile application for both the iOS and Android platforms. This new application has been developed by Unocoin themselves and will allow Unocoin customers to buy, sell, receive as well as store Bitcoin in one place. Interestingly, the application makes its way to users as Indians are trying to grapple with the demonetization of Rs.500 and Rs. 1000 banknotes by the Government of India. Bitcoin has hit new highs in the domestic Indian markets since demonetization occurred on the midnight of Nov. 8. All-in-one app for Indians The new application by Unocoin will make it simpler for its customer base to access Bitcoin and to store it on their mobile devices. However in India, one of the greatest challenges is the diversity of the country itself. Although India boasts the world’s second largest English-speaking population with roughly 125 mln people having some degree of English proficiency, it is still only 10 percent of the billion plus population of the country. We talked with Sunny Ray, co-founder and president at Unocoin about these challenges. He says: “We’ve already started building instructional videos in […]
Before we explain what the LN (Lightning Network) is we need to understand why it’s needed and why it was created in the first place. The whole point of the Lightning Network is to help Bitcoin’s scalabilty problem by essentially bundling micro-payments into a single transaction. An example of bitcoin micropayments which are being used today are winnings from a bitcoin dice game after a roll, payments for CPC ad revenue, torrent file seeding, earnings from bitcoin faucets and much more. To best explain how the Lightning Network can bundle micro transactions and increase the Bitcoin network’s efficiency we present a scenario. User Alice is playing a gambling game on Lucky.Bit, the way the game works, is you deposit some Bitcoins into any of the 4 addresses provided by LuckyBit and when a transaction is picked up going to that address a bet is placed and the game begins. When the bet is complete, a new transaction is formed which sends the reward back to the address that originally sent the coins for the bet. As such, if Alice wants to place a bet she will generate 2 transactions, one to fund the bet address and the other to receive the […]
While Bitcoin has received the lion’s share of attention since its conception, recently the Blockchain — the distributed public database used to record Bitcoin transactions — has just begun entering the spotlight for enabling some important capabilities outside of Bitcoin. “It’s my belief that Blockchain technology will be as important to the world as Gutenburg’s printing press,” Nic Cary, cofounder of Blockchain.info, told me recently. “For the first time in the history of the world we can reimagine how the world transacts without relying on an intermediary.” Here are four unexpected ways the Blockchain might change the world: 1. Distributed Cloud Storage The Blockchain has already been manipulated to store information in unscaleable ways. A niche storage trick is sending small amounts of Bitcoin to addresses that represent information when converted into a Unicode format. For example, the above image of Nelson Mandela is recorded in this transaction. Besides being a hobby for techies, Blockchain data storage could be disruptive. Current cloud storage services are centralized — thus users must place trust in a single storage provider. With the Blockchain, this can become decentralized. For instance, Storj is beta-testing cloud storage using a Blockchain-powered network to improve security and decrease […]
Blockchain Applications in Money Cryptographic digital currencies allow for a new system of robust, transparent, and efficient monetary management. From a technology perspective, existing monetary systems require paper-based cash or utilizing a private third party service (e.g. Visa, American Express) to send money far distances. From an economic perspective, holders of government issued currencies (e.g. United States Dollar, European Euro) are required to trust centralized authorities that overall monetary valuations will remain stable and that online transfers or holdings cannot be seized. The advent of cryptographic digital money has leapfrogged over this archaic system by using blockchain technologies to create a new truly person-to-person (Peer-to-peer) environment of money transfer. There is no need for a centralized party to control a cryptocurrency, nor is there any type of restrictions or rules of usage. Cryptocurrencies provide people across the globe with instant, secure, and frictionless money. Blockchain Money Definition Cryptographic digital currencies use cryptography and blockchain technologies to provide anybody with an internet connection, with global, nearly-instant, and frictionless money. This is possible by using advanced encryption and blockchain technologies to provide a robust and secure network of money management. Blockchain Applications in Financial Services Distributed Ledger Technologies (DLT) allow the entire financial services industry to dramatically […]