text:
Ethereum, the platform for decentralized apps
Ethereum (ETH) is a cryptocurrency and a distributed computing platform notable for its use of smart contract technology.
Launched in 2015, Ethereum is distinguished from other cryptocurrencies in part by the Ethereum Virtual Machine (EVM), a Turing-complete system that uses a global network of public nodes to run scripts assigned to it by users. (1)
Ethereum also features a cryptocurrency token called "ether" and an internal transaction pricing mechanism named "gas," both designed to facilitate transactions on the network and combat spam. (2) (3)
Ethereum's stability and complexity have made it popular both as a cryptocurrency and as a foundational technology for various apps and financial services, inspiring other cryptocurrencies like NEO and EOS.
Ethereum is a worthwhile investment for those looking for a cryptocurrency with a complex set of features that go beyond anything else on the market.
Ethereum was originally conceived in 2013 by Vitalik Buterin, a Russian-Canadian Bitcoin developer who sought a system for creating decentralized applications. In a white paper, Buterin argued that Bitcoin should incorporate a scripting language to facilitate app development. (4) (5) (6)
Buterin's suggestions were not implemented, so in 2014, he formed a programming team with the intent of forming a new platform that would embody his ideas. Ethereum development began later that year, under the aegis of Switzerland-based corporation Ethereum Switzerland GmbH and the non-profit Ethereum Foundation, both funded through a Bitcoin-powered crowdfunding drive. (7) (8)
After a year of development, a beta incarnation of Ethereum, codenamed "Olympic," was released to the public in May 2015. The first complete version of the program, named "Frontier," was later released in July of that year. Beginning with the release of the "Homestead" edition on March 14, 2016, Ethereum is now regarded as 100 percent stable. (9) (10)
Also in 2016, the DAO, a decentralized autonomous organization, successfully raised $150 million dollars in a crowdfunding campaign to develop a set of smart contracts for Ethereum. In June of that year, the DAO collapsed in chaos after a hacker stole $50 million of the funds. (11) (12)
In response to the theft, the Ethereum community opted to perform a hard fork with the intent of reclaiming the stolen funds. Supporters of the DAO were opposed to this, and as a result, on July 20, 2016, the Ethereum blockchain was divided between Ethereum and Ethereum Classic (ETC), an entirely different cryptocurrency. (13) (14)
Since then, Ethereum has committed two more hard forks with the intent of improving DDoS protection and thwarting spam attacks. (15)
Ethereum is differentiated from other cryptocurrencies due to the Ethereum Virtual Machine (EVM), a runtime environment that governs all transactions within the system, specifically its unique system of smart contracts. The EVM is sandboxed and separated from other aspects of the Ethereum network in order to protect it from cyberattack. (16)
Smart contracts are Ethereum's method of guaranteeing the integrity and safety of transactions. Smart contracts are responsible for carrying out the transaction of value between untrusted agents and are also capable of combating attempted collusion, censorship, and other forms of fraud on the network. (17)
While smart contracts have made transactions over Ethereum more safe and efficient in certain respects, they also possess some security vulnerabilities. For example, smart contracts make bugs and exploits publicly visible on the blockchain, potentially allowing hackers to take advantage of them before they can be fixed. This was how the DAO was hacked and had a third of its crowdfunded capital stolen. (18)
In addition to these features, Ethereum also has several programming languages built in, including Solidity, LLL, Mutan, and Serpent. This allows for easy app development in comparison to Bitcoin and other cryptocurrencies. (19)
Due to Ethereum's breadth of features, many developers have created or proposed many different uses for the network, including online gambling, electricity pricing, prediction markets, and social media platforms. J.P. Morgan Chase and the Royal Bank of Scotland have also used Ethereum to develop custom systems based on the cryptocurrency's smart contract technology. (20) (21) (22)
To facilitate Ethereum's development and use in mainstream banking, the Ethereum Enterprise Alliance (EEA) was formed in March 2017. The EEA includes a large number of Fortune 500 companies, including Microsoft, MasterCard, Intel, and the National Bank of Canada. (23)
Ethereum's stability, versatility, and credibility have helped it become one of the most popular cryptocurrencies on the market, second only to Bitcoin.
Unlike Ripple, a cryptocurrency with similar features, Ethereum can be mined, though there are a number of caveats involved.
In contrast to other popular cryptocurrencies such as Bitcoin and Litecoin, it is still possible to mine Ethereum with a GPU and get decent results. Keep in mind that excess heat generated by GPU use may cause wear-and-tear to the computer, so a cooling pad or other cooling solution is recommended if you use GPU mining. (24)
GPU mining is also best attempted with a graphics card that has at least 2 GB of VRAM, as anything lower means that it will take too long relative to electricity and heat costs to generate a single coin. AMD cards are also superior to nVidia cards for the purpose of mining Ethereum. (25)
Like with other cryptocurrencies, Ethereum mining rigs are also available for sale at varying price points, and enterprising miners can also build their own. (26)
Also like other cryptocurrencies, the income generated from mining Ethereum needs to be measured against the cost of electricity in your area. If electricity is too expensive, mining Ethereum is a bad idea because it will never turn a profit. (27)
Despite all this, Ethereum is worth mining because of its popularity and because the overhead for doing so is considerably lower compared to other leading cryptocurrencies.
1. What is Ethereum? Ethereum is a public, blockchain-based financial and computing network noted for its "smart contract" features. While often regarded as a cryptocurrency, Ethereum extends beyond merely serving as a means of exchange and is in fact a fully functioning decentralized computer system that can be used for a myriad of functions, from app development to online banking. The core of Ethereum is "Ether," a digital token that can be used as a cryptocurrency in its own right or as the basis for any number of computing projects that the user desires. Because of this, Ethereum is considerably more versatile than Bitcoin and has seen widespread adoption in a number of fields.
2. What makes Ethereum different from Bitcoin? There are many differences between Ethereum and Bitcoin, but chief among them is that Ethereum extends the use of blockchain technology in ways that Bitcoin does not. Both Bitcoin and Ethereum are based on the same fundamental technology: a global, decentralized ledger that functions via network consensus. While Bitcoin merely functions as a digital currency, Ethereum functions as a global computer network, allowing programs and computer code to be distributed and executed on a peer-to-peer basis. This enables Ethereum to be used as more than cryptocurrency, with users implementing Ethereum in maintaining medical records, monitoring elections, and managing supply chains.
3. Who invented Ethereum? Ethereum was conceived by Russian-Canadian computer programmer Vitalik Buterin in a white paper published in 2013. Prior to the publication of the white paper, Buterin had been an advocate for incorporating a scripting language into Bitcoin so that the cryptocurrency could be used for software development. The team maintaining Bitcoin rejected this, so Buterin instead proposed a separate platform that would accomplish his goals. Buterin would later announce Ethereum in January of 2014, with the first release of the network coming in May of 2015. The network has since been updated with new features and security enhancements, which are organized into periodic "milestones."
4. What was the DAO hack? In 2016, the DAO (Decentralized Autonomous Organization), a venture capital fund, raised a record $150 million on the Ethereum network for the purpose of developing a series of smart contract programs. In June of that year, however, an unknown hacker used a security exploit in the network to steal $50 million of the DAO's funds. This fueled an intense debate over how Buterin and Ethereum should respond to the security exploit and theft. Eventually, Buterin chose to use a hard fork to recover the stolen money, resulting in the Ethereum network being split in two: Ethereum and Ethereum Classic, the latter of which retained the use of the original Ethereum blockchain. This decision was extremely controversial and led to a rivalry between supporters of the hard fork and supporters of the original blockchain.
5. What is Ether? Ether is the cryptocurrency that undergirds the Ethereum network. While Ethereum is often referred to as a cryptocurrency, this is technically incorrect; Ethereum refers to the network as a whole and Ether refers to the network's currency. Ether can be bought, sold, and traded in a fashion similar to Bitcoin and other cryptocurrencies, but it also has a large number of uses in computer programming and other fields.
6. What makes Ether valuable? Like other cryptocurrencies, Ether's value is derived in part from the value that users give it. Due to Ethereum's usefulness as a computing platform and its smart contract functionality, it has rapidly become one of the world's top cryptocurrency systems.
7. What determines the price of Ether? Like any other currency, Ether's price is governed by supply and demand. Unlike Bitcoin, Ether is not inherently deflationary, as new Ether tokens are generated at a consistent rate, so the supply of Ether is not artificially constrained.
8. Where does Ether come from? 60 million Ether tokens were created when Ethereum originally launched in 2015. Subsequently, Ether has been produced by miners in much the same fashion as other cryptocurrencies. Miners are high-powered computers connected to the Ethereum network that generate new Ether by solving complex math problems, receiving a share of new Ether created as an incentive for them to mine. In contrast to Bitcoin, Ethereum uses the Ethash algorithm for proof-of-work (the mechanism by which the network determines a miner's contribution to Ethereum), which makes specialized mining hardware (ASICs) less effective and creates a more equal playing field for miners using less advanced equipment
9. How does one obtain Ether? In the same way as other cryptocurrencies, Ether can be bought and sold via an Ethereum wallet and crypto exchanges. Transactions are conducted in a similar fashion as Bitcoin; if you want to send Ether to another user, you merely obtain their wallet address and send the currency. Like Bitcoin, Ethereum wallet addresses consist of random strings of letters and numbers that are difficult for many to remember, so wallet applications and exchanges allow you to substitute the actual wallet address with a QR code that can be scanned with a smartphone or tablet. Ethereum can also be mined with specialized computer hardware.
10. What is Gas? Gas is a representation of the smallest amount of work that needs to be performed to execute a task on the Ethereum network. Gas is a numerical representation of the amount of work that Ethereum miners must execute in order to process transactions, calculated separately to reflect the greater complexity of the Ethereum network compared to Bitcoin and more traditional cryptocurrencies. Gas is further subdivided into fractional units referred to as "gwei."
12. How does Gas affect transactions on the Ethereum network? When executing any task involving Ethereum, a Gas cost is calculated. Calculating a higher Gas price will result in the transaction being processed faster. Ethereum wallets typically calculate a Gas Limit automatically, which defines the maximum amount of Gas that can be charged to process a transaction. This also protects users from spending too much on transaction fees. A Gas Limit that is too low can result in the transaction being lost or rejected, and any Gas spent in the process is lost. If the Gas Limit is too high and the transaction is processed before it is reached, any excess Gas is returned to the wallet that initiated the transaction.
13. What are the upsides of using Ethereum? The Ethereum network carries with it the advantages of other cryptocurrencies, including decentralization, payment freedom, worldwide availability, and low fees. However, Ethereum's smart contract functionality adds an additional layer of security, as they can be programmed for additional verification and trustworthiness in financial transactions. The versatility of the Ethereum network has allowed it to be used for a wide variety of purposes, and web developers have also used it to create DApps (decentralized applications), further adding to Ether's value. A number of major corporations, including JPMorgan Chase, Microsoft, IBM, Barclays, Credit Suisse, and many more have been exploring the use of the Ethereum network for various purposes, helping make Ether an attractive investment prospect.
14. What are the downsides of using Ethereum? Ethereum shares many of the disadvantages of Bitcoin and other cryptocurrencies, including price volatility, slower transaction speeds compared to credit and debit card transactions, obscurity among the general public, and unpredictability as to how the network will change with future software updates. Ethereum is also considerably more complex than Bitcoin and other cryptocurrencies, which hobbles its adoption as a form of digital payment. Finally, incidents such as the DAO hack have undermined public confidence in Ethereum, as the hack occurred due to conflicts between the smart contract system and the greater Ethereum blockchain. While Ethereum has not suffered any similar incidents since, it is impossible to rule out security breaches in the future, as is the case with any computing system.
15. What is an ERC20 token? An ERC20 token is an Ethereum token that functions similarly to Ether but can be reprogrammed for a wide variety of uses. It is short for Ethereum Request for Comment, with "20" serving as the proposal identifier. ERC20 tokens can be programmed to hold a specific set of rules, which allows them to be turned into ad hoc cryptocurrencies on their own, powered by the Ethereum network but separate from it. This is a popular choice for developers who seek to use blockchain technology in various projects but don't want to create a separate blockchain of their own, which is time-consuming and expensive. ERC20 tokens expand the use of the Ethereum network in ways that few cryptocurrencies can match.
16. What are smart contracts? Smart contracts are executable computer programs that allow for the creation of agreements between Ethereum users without human intervention. They represent a major innovation in both cryptocurrency and finance technology because they allow fair transactions to be conducted without the intervention of a human mediator. For example, public smart contracts have been used by Ethereum-based online casinos to show their fairness to potential users. Banks, hospitals, and other institutions have also used smart contract technology in areas where accuracy and trust are vital. Smart contracts are executed via the Ethereum Virtual Machine, which is also responsible for managing the blockchain-based consensus system that defines the Ethereum network.
17. What are some other differences between Ethereum and Bitcoin? Ethereum has a considerably faster block time than Bitcoin, processing blocks in 14 to 15 seconds as opposed to ten minutes, which means that Ethereum transactions occur much more quickly than Bitcoin transactions. Ethereum mining also functions consistently, generating new tokens at an even rate, whereas the rate of Bitcoin coin creation continuously slows over time to prevent inflation. Transaction fees are also much lower on Ethereum than on Bitcoin.
18. Is Ethereum safe? No computer system is 100 percent safe, but Ethereum is recognized as one of the most secure cryptocurrency systems in the worldwide, which is why banks and other firms have begun using it for various tasks. While the DAO hack represented a major breach in security, it and other security holes have been fixed through continuous upgrades to the Ethereum network in a series of soft forks. However, due to the varying nature of projects developed on the Ethereum network, individual ERC20 projects may not have the same level of security as the network as a whole. Always exercise sound judgment before you get involved in any kind of financial transaction.
19. Is Ethereum a scam? Absolutely not. Much like Bitcoin, Ethereum is a transparent, consensus-oriented computing platform, meaning that no one person or entity can take control of it and profit at the expense of other users. Indeed, Ethereum's smart contract functionality gives it an additional layer of security that other cryptocurrencies lack. Ethereum has also been continuously updated to make it more secure, particularly after the DAO hack.
20. If Ethereum is so much more advanced than Bitcoin, why don't people use it instead of Bitcoin? Bitcoin and Ethereum have two different purposes. Bitcoin was designed purely as a currency, a means of storing value and exchanging it, while Ethereum was designed as a computing platform with a wide variety of functions. While Ethereum is more feature-rich than Bitcoin, this complexity is off-putting to some users, who merely want to use cryptocurrency to invest or make transactions. The simplicity of Bitcoin helps separate it from Ethereum and gives it a role in the economy. Furthermore, Bitcoin, having been around for much longer, has much more name recognition than Ethereum. Considerably more merchants accept Bitcoin compared to Ether, which also gives it staying power. Ultimately, the value of a currency is determined by whether people find it to be valuable, and Bitcoin and Ethereum both have value because people around the world find them useful in their own ways.
Ethereum is likely to remain one of the most popular and recognized cryptocurrencies for a long time to come due to its value, ease of use, and unique suite of features.
More than a cryptocurrency, Ethereum's virtual machine and smart contract system has given it flexibility and security far beyond what other competing cryptocurrencies can offer.
Additionally, Ethereum's inclusion of scripting languages is a boon to software developers, who can use the system to design decentralized, open-source apps.
Ultimately, Ethereum is a worthy investment due to its visibility, its truly unique features, and the relative ease in mining it.
Leave a Reply
Cardano, a top smart contract cryptocurrency
Cardano (ADA) is a blockchain smart contract technology platform known for running the Ada cryptocurrency.
Launched in 2017, Cardano aims to be an all-in-one cryptocurrency platform featuring smart contracts, side chains, multi-party computation, decentralized applications, metadata, and countless other functions.
Similar to Ethereum, Ripple, and Stellar, Cardano seeks to be far more than a cryptocurrency: its goal is to function as a complete technology and financial platform, meeting the needs of 21st century finance.
While still relatively young, Cardano's rapid development, suite of features, and technological pedigree have caused it to become one of the hottest cryptocurrencies. Interest in Cardano is only sure to increase once more of its features come online.
Crypto investors with an interest in smart contract platforms would do well to check Cardano out, because it promises a number of innovations that will allow it to possibly outcompete Ethereum, Ripple, and other competitors in the market.
Cardano was launched on September 27, 2017 by Input Output Hong Kong (IOHK), a blockchain development firm led by Charles Hoskinson, best known as the co-founder of Ethereum. (1) (2)
Cardano is primarily distinguished from Ethereum by its use of a Recursive InterNetwork Architecture (RINA), which allows for faster transactions and more security compared to other smart contract platforms. (3)
Similarly to Stellar, Cardano also uses a system of decentralized consensus in order to maintain order on the blockchain and verify transactions. All machines connected to the Cardano network participate in vetting transactions, making it impossible for any one actor to take control of the network and misuse it. Any machine connected to the Cardano network can participate in this process, though as with Stellar, not all machines will be treated equally. (4)
As part of its decentralized consensus model, Cardano uses the Ouroboros proof-of-stake algorithm to verify the integrity of transactions. Cardano designates anyone who participates in the verification of transactions as a "slot leader," whose job is to generate new blocks in the blockchain. Anyone who owns a Cardano Ada coin is automatically regarded as a slot leader. (5)
Most notably, Cardano features a unique ledger design that was created to increase the flexibility of smart contracts utilized on the network. Cardano's ledger separates account values from the logic behind why values are moved from one account to another, which distinguishes it from virtually every other cryptocurrency, where both entities are lumped together. This promises to make Cardano one of the best platforms for arranging sensitive financial transactions. (6) (7)
In addition to all these innovations, IOHK is currently developing a virtual machine for Cardano, along the lines of Ethereum's EVM, which will increase the platform's computational ability. Cardano is also implementing Plutus, a smart contract programming language designed to secure buyers and sellers from security breaches. Future updates will allow users to create apps in other programming languages, such as C, Java, and JavaScript. (8)
IOHK has stated that their primary objective with Cardano is to develop a platform that makes it possible to implement banking systems in areas where they have traditionally been too expensive to implement. Several practical implementations of Cardano have already been achieved. For example, Greece's national education and research network has begun using Cardano to verify student diplomas. (9) (10)
While Cardano is still quite young, its pedigree as a creation of Ethereum's co-founder, its existing features, and its ambitious development schedule have made it a cryptocurrency to watch. If you have an interest in smart contract platforms, Cardano is worth adding to your portfolio.
Like Ripple and Stellar, it is not possible to mine Cardano, but it is possible to increase your stash of it by using its unique architecture.
Cardano's proprietary cryptocurrency Ada (named after Ada Lovelace, one of the inventors of the computer) uses a proof-of-stake algorithm instead of a proof-of-work algorithm like Bitcoin and most cryptocurrencies. This means that new coins are generated on the network not through mining, but through the coins that are already existent. (11)
What this means is that anyone who owns Ada coins and is connected to the Cardano network via a Daedalus wallet (the official wallet of Cardano) can receive additional Ada without doing anything. Even better, some Ada holders can receive transaction fees if their personal stash is large enough. It's akin to receiving interest in a savings account, with the caveat that a user must keep their Daedalus wallet online in order for it to work. (12)
Effectively, this means that any Cardano holder can participate in the growth of the Ada supply and also make money without having to invest in expensive computer hardware.
1. What is Cardano? Cardano is a decentralized smart contract platform powered by blockchain technology and utilizing the ADA cryptocurrency. Cardano's purpose is to serve as an all-purpose computing and currency solution, incorporating application development, smart contracts, metadata, and many other features. While still under development, Cardano has already attracted attention from major players due to its existing offerings and future potential.
2. What makes Cardano different from Bitcoin or Ethereum? As a smart contract platform, Cardano has more in common with Ethereum than Bitcoin, which is merely a cryptocurrency. Cardano's main difference compared to Ethereum is that it uses Recursive InterNetwork Architecture (RINA), which makes transactions much faster and more secure.
3. Who created Cardano? Cardano was launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. Development is managed by Hoskinson's company, Input Output Hong Kong (IOHK), and was intended as a means to launch banking systems in areas of the world where they have traditionally been too costly or risky to implement. While initially similar to Ethereum, Cardano quickly distinguished itself by offering a low-cost, independently verifiable banking system that cannot be tampered with or is otherwise at risk of human error or corruption.
4. Who controls Cardano? Development of Cardano is handled by Input Output Hong Kong. Unlike other platforms such as Stellar, Cardano is not open-source.
5. How does Cardano work? In a fashion similar to Ethereum and other blockchain-powered platforms, Cardano uses a decentralized consensus process in order to verify transactions. All machines that are connected to the Cardano network are responsible for processing transactions, meaning that individual actors cannot hijack the network or otherwise take advantage of it. As part of this process, Cardano uses the Ouroboros proof-of-stake algorithm to check the integrity of all transactions. The Cardano network uses the term "slot leader" to describe any machine that participates in the verification process. Any user that owns Ada (Cardano's native cryptocurrency) is eligible to become a slot leader and participate in the governance of the network. In addition to this, Cardano features a unique smart contract system which separates account values from the logic behind why those values are transferred between accounts, a sharp contrast from platforms like Ethereum where both of these entities are merged together. Because of this additional security feature, Cardano
6. What is Cardano used for? As mentioned above, Cardano's original purpose was to make implementing banking systems less cumbersome and expensive. It has already seen a number of practical implementations; for example, Greece's educational authorities use Cardano to verify student diplomas. IOHK is also developing a virtual machine for Cardano similar to the EVM system used by Ethereum, which will considerably strength the computing power of the network. In addition to this, IOHK plans to add a new smart contract programming language called Plutus that will further insulate users from security breaches, and it is also working on adding compatibility with more traditional programming languages such as C and Java. IOHK's intent is for Cardano to serve as an all-purpose transactional and computing platform, which is what has drawn interest from crypto enthusiasts and serious banking clients.
7. What is Ada? Ada is the base token of the Cardano network, similar to how Ether is the base cryptocurrency of Ethereum and XRP is the base cryptocurrency of Ripple. Similar to other cryptocurrencies, Ada is kept in wallets and can be bought, sold, or traded via exchanges and direct transactions.
8. What makes Ada valuable? All currencies, including normal fiat currencies and cryptocurrencies, have value because people see them as valuable. Cardano's potential as a computational and smart contract platform has given Ada value in the cryptocurrency community, and its practical applications have also drawn considerable attention.
9. Where does Ada come from? New Ada tokens are generated via a proof-of-stake mechanism, whereby existing Ada holders pool their computational power to ensure the network's continued operation and receive newly generated coins in return. Machines who contribute to the Cardano network in this manner are called "slot holders" and all those who hold Ada coins are eligible to participate in the network's governance. This is a stark contrast with Ethereum, where new coins are generated via mining, and Ripple, where the supply of XRP is fixed and unchanging.
10. How does one obtain Ada? Ada can be bought, sold, and traded via exchanges and direct transactions. To receive or send Ada, you must possess a wallet, a digital tool that is designed to store an infinite amount of Ada. Wallets can be found for free online and also come in hardware form. Wallets are identified on the Cardano network through wallet addresses. In order to send Ada to another user, you must possess their wallet address; the reverse is true if you wish to receive Ada. Wallet addresses are rendered as a series of numbers and letters, though as with other cryptocurrencies, they can also be generated as QR codes that you can use with a smartphone or other mobile device. If you already possess Ada, you can obtain more by staking your Ada via the Cardano network. While staked tokens cannot be moved or sold, you will receive additional Ada in proportion with the amount of Ada you have staked to the network. Think of it like a savings account, where you earn interest in proportion to the amount of money you have saved.
11. What are the upsides of using Cardano? As a smart contract platform, Cardano has greater utility and versatility than cryptocurrencies like Bitcoin, who lack its additional features. Cardano boasts a number of features that differentiate itself from other smart contract platforms such as Ethereum, most notably its separated contract validation system and Ouroboros proof-of-stake technology. For individuals who need to make sensitive financial transactions, Cardano's focus on security makes it an attractive option, and its transaction speed is considerably faster than Ethereum's due to its unique architecture. The implementation of the Plutus language will add a further layer of security and also potentially make Cardano a more appealing platform for those interested in smart contract transactions. Finally, as a cryptocurrency platform, Cardano possesses all the advantages that cryptocurrencies bring, such as low transaction fees, payment freedom, and worldwide availability.
12. What are the downsides of using Cardano? As a cryptocurrency platform, Cardano suffers all the problems associated with cryptocurrencies, such as constantly changing value, sluggish transaction speeds compared to more traditional banking methods, and a lack of acceptance among merchants. Cardano is not as well-known as other major cryptocurrencies and platforms such as Ethereum and Bitcoin and is subsequently more difficult to use. In addition to this, many of Cardano's features are not fully implemented, meaning that much of its value is theoretical. Technological changes in the future may lead to Cardano becoming much different than its creators' original plans, a factor that should be considered when investing in the platform. Finally, Cardano cannot be mined, which is a demerit for more hardcore cryptocurrency users.
13. Is Cardano safe? No currency or financial instrument is 100 percent safe. Investment carries an inherent risk; you are using some of your money to fuel growth in a business or asset with the hope that you will see a return on what you spent. Cardano's attractiveness as an investment is fueled by its enhanced security protocols compared to other cryptocurrencies as well as its future potential, such as its implementation of a virtual machine and its use as a low-cost, low-risk banking platforms. While Cardano shows opportunity for growth, the future is unpredictable and many of its proposed developments may not work out as planned. This means that, like any other investment, there are no guarantees with Cardano. Before investing in any cryptocurrency—or indeed investing in anything at all—you should carefully consider the risks. By doing your homework and going into investing with a clear mind, you will be able to minimize your risk potential and improve your chances of earning a return on what you put in.
14. Is Cardano a scam? As noted above, Cardano's security protocols have allowed it to avoid the scandals that have affected Ethereum, Ripple, and similar platforms. Cardano's adoption by governments and financial institutions show that it possesses a level of trustworthiness that make it a worthwhile investment. While there is no telling how the platform might evolve in the future, Cardano's basic structure gives it a value and security that few cryptocurrencies can rival.
15. If Cardano is more advanced than Ethereum and other cryptocurrencies, why don't people use it instead? Cardano serves a different purpose than other cryptocurrencies. In contrast to Bitcoin, which is merely a store of value, Cardano offers a full-service computational and smart contract platform, making it attractive for developers and other individuals beyond investors. As for Ethereum, Cardano's additional security features make it ideal for those who are concerned about security and privacy when it comes to their financial transactions. Finally, many of Cardano's features are not fully implemented yet, meaning that some investors will favor more developed platforms such as Ethereum. This could change in the future as Cardano is improved by IOHK, but for now, Cardano occupies a separate niche in the cryptocurrency world, which is why it can coexist alongside other currencies and smart contract platforms.
16. Can Ada be mined? Ada cannot be mined due to the fact that Cardano uses a proof-of-stake system to generate new coins. Many cryptocurrencies such as Bitcoin use a proof-of-work system, in which computers solve math equations and process blockchain transactions in exchange for a share of new coins generated, a process colloquially known as "mining." Proof-of-stake cryptocurrencies generate new coins by having existing coin holders stake their coins in the network to process transactions, receiving new coins in proportion to the amount of tokens that they stake. This considerably lowers the barrier to earning money with Ada, since you don't need expensive computer hardware in order to generate new coins; you simply need a Cardano wallet with Ada that has been staked. However, because Cardano generates new coins in this fashion, you cannot mine Ada as a result.
17. Can I make money with Cardano? Cardano's adoption by banking institutions indicates that major financial players consider it a worthwhile investment. While there are no guarantees of profit when it comes to investing, by researching carefully and not making any rash decisions, you can make money by investing in Cardano. An additional consideration is that many of Cardano's promised features have not come online yet, and the value of Ada will likely increase when they do. Always do your homework before you make any financial decisions.
18. How is the price of Ada determined? Like any other currency or commodity, Ada's price is governed by the law of supply and demand. The value of Ada and other cryptocurrencies is somewhat volatile due to the fact that supply is limited due to the fact that new coins are generated through a proof-of-stake mechanism. However, Cardano will retain a certain degree of value so long as other people find it to be a useful platform.
19. Could Ada ever become worthless? There is no such thing as a currency or commodity with an eternal, unfixed value. Numerous currencies have become worthless over the centuries due to government malfeasance, economic collapse, and other factors. As such, there will always be a risk that Ada's value could drop to zero. Ada is currently valuable due to the fact that investors and financial institutions find it to be an attractive platform, but that could change in the future due to various unknown factors. As such, you should take this into consideration when making your investment decisions.
Smart contract cryptocurrencies represent the next generation of crypto: beyond merely serving as stores of value, they function as entire financial and banking systems unto themselves. Ethereum and Ripple have led the pack when it comes to smart contract cryptos, but Cardano is quickly catching up due to its advanced features.
Cardano's unique programming language and use of decentralized consensus has helped build it into a robust smart contract system, offering security and speed beyond that of Ethereum and Ripple. Without a centralized authority to dominate the blockchain, Cardano's growth is only limited by its userbase, which is exploding every day.
Most importantly, Cardano's proof-of-stake algorithm makes it one of the easiest ways for long-term crypto investors to grow their bag. Without having to invest in ASIC miners or purchase expensive computers, Cardano users can participate in the network's growth, verify transactions, and make a tidy profit all at the same time. Few cryptocurrencies can match this level of benefits to their users.
Cardano's major demerit is that it is not very old and is untested to a certain degree. However, the currency has proven itself through both its suite of features and the unique ways that people have found to use it.
If you have an interest in smart contract cryptocurrencies, looking into Cardano is worth your time. It promises to be one of the leading currencies in its market and potentially a pillar of world finance in the future, so it behooves you to get involved now.
Stellar, the protocol for the future of money
Stellar (XLM) is an open-source value exchange protocol and cryptocurrency designed to make exchanging money simple and easy.
Founded in 2014 and based on Ripple, Stellar has since forked into its own project with an entirely separate network and modus operandi. Stellar's primary purpose is to function as a real-time gross settlement and remittance system, making financial transactions simple and easy and backing them with the power of the blockchain.
Since its founding, Stellar has taken its place alongside Ripple, Ethereum, and other similar cryptocurrencies to provide an all-in-one network for exchanging money and value, giving it a stability and resiliency that many cryptocurrencies lack.
For these reasons, Stellar is a worthwhile investment for your crypto portfolio.
Stellar was founded in 2014 by Jeb McCaleb, one of the creators of Ripple and the creator of eDonkey, an early peer-to-peer file sharing protocol that preceded Napster, LimeWire and similar services. McCaleb is also known as the founder of the now-shuttered Bitcoin exchange Mt. Gox, though he sold it to Mark Karpelès not long after creating it. Stellar's development is headed by the nonprofit Stellar Development Foundation. (1) (2)
Initially based on the Ripple protocol, Stellar introduced a number of changes to its code that fundamentally diverged it from Ripple. Not long after Stellar's foundation, it was forked from Ripple and became its own entity. In response, the Stellar Development Foundation created a new consensus algorithm for the network, bringing it online in 2015. Stellar and Ripple have since diverged so much that there is no compatibility and almost no code shared between the two platforms. (3) (4)
Similarly to Ripple, Stellar is not simply a cryptocurrency, but is designed as an all-in-one network for financial transactions. Stellar exists as a software protocol on financial servers and uses the Internet to form a global network for exchanging money. Unlike Ripple, which is centralized and proprietary, Stellar is an open-source platform that utilizes an open ledger which anyone can view and contribute to. (5)
Stellar's central ledger is changed whenever users on the network engage in transactions. Utilizing Stellar's central consensus protocol, transactions are monitored and changes to the ledger are made according to agreement among all servers connected to the Stellar network. This is a fundamental difference from Ripple in that no one entity or individual can take control of the Stellar network, since agreement on ledger changes must be obtained from all parties involved in Stellar. (6) (7)
This open-source approach to transaction validation gives Stellar more flexibility than Ripple, since any machine connected to the Stellar network can participate in the validation of transactions, though not all machines will be treated equally. Additionally, Stellar is much friendlier towards third-party developers than Ripple, encouraging creators to design their own add-ons and projects for the Stellar network and helping to raise money for their work. (8)
Stellar's open-source nature has made it a hit among financial institutions in the developing world who are seeking stable and reliable platforms to build on. For example, the banking software company Oradian has begun using the Stellar network to connect and coordinate operations between microfinance institutions in Nigeria, while other similar partnerships have since been unveiled in India, sub-Saharan Africa, and the Philippines. (9) (10)
Stellar has also gained traction in the developed world as an alternative to Ripple and traditional banking mechanisms. In 2017, Stellar and IBM formed a partnership designed to increase the speed of the Stellar network and improve the efficiency of transactions. IBM also seeks to use Stellar to develop a new "cross-borders payment solution" to make transferring money around the world an easy and painless process. (11) (12)
Stellar is also distinguished from Ripple by its inflationary structure. While Ripple works to keep the amount of currency in circulation stable, Stellar automatically increases its money supply by one percent each year. This rate of increase is hard-coded into the system and cannot be modified by miners or any other entity. (13)
It's because of all this that Stellar has become a worthwhile investment option for cryptocurrency traders interested in "smart contract" currencies. Like Ethereum and Ripple, Stellar's framework for financial transactions gives it a strength that gives it extra credibility in the world of traditional finance.
Like Ripple, it is not possible for individuals to mine Stellar.
At the inception of the Stellar network, 100 billion Stellars were created. The only way that additional Stellars can be made is through the aforementioned inflationary structure, which caps the increase by one percent each year. This inflation happens automatically on a weekly basis, with the new Stellars created distributed throughout the network via direct voting. (14)
Because of this, mining Stellar is impossible; the only way to obtain Stellar is to buy it via an exchange, buy it via the Stellar network directly, or receive it as a result of inflation voting.
1. What is Stellar? Stellar is a decentralized digital-to-fiat currency transfer protocol. Its original purpose was to facilitate money transfers between different currencies in a quick and inexpensive fashion. The Stellar network uses Lumens as its native token, similar to how Ethereum uses Ether or Ripple uses XRP. Stellar has since been embraced by various services who seek to offer multi-currency payment systems.
2. What makes Stellar different from Bitcoin or Ethereum? Stellar is similar to Ethereum in that it is designed to be a fully-fledged payment system and not merely a currency. In this, it is distinguished from Bitcoin in that it has a large number of functions beyond merely serving as a medium of exchange. Stellar is specifically designed to function as an intermediary for fiat currency transfers, making it an able tool for those who want to deal in multiple currencies easily.
3. Who created Stellar? Stellar was founded in 2014 by Jeb McCaleb, who is best-known for his role in founding Ripple. He was also responsible for creating eDonkey, a peer-to-peer file-sharing protocol similar to Napster, as well as the once-famous Bitcoin exchange Mt. Gox, though he sold the exchange to Mark Karpelès shortly after its founding. Initially similar to Ripple and sharing code and functionality with the platform, the two have since diverged considerably. Stellar is an open-source platform that allows any developer to contribute to its advancement. Additionally, in contrast to Ripple's centralized system for verifying transactions, Stellar uses a ledger system that is more in line with Bitcoin and other cryptocurrencies that operate on a consensus model.
4. Who controls Stellar? The development of Stellar is officially helmed by the Stellar Development Foundation, a nonprofit. However, as an open-source platform, independent developers can freely contribute to Stellar if they wish. Additionally, Stellar operates on a consensus model, with changes to the system only possible if a majority of users consent to them. This makes Stellar more similar to decentralized crypto platforms such as Ethereum.
5. Why was Stellar created? Stellar's original purpose was to serve as a middleman for fiat currency exchanges. Given the increasingly interconnected world economy, demand has increased for easy, low-cost exchange services, particularly among residents of developing economies who work for foreign clients. However, converting currencies can be difficult and costly, particularly when it comes to less-popular currencies that do not play a large role in international finance. Stellar was developed as a means to allow individuals to convert from one fiat currency to another without paying expensive fees or enduring long transaction times. This friendliness to finance in the developing world has made Stellar popular among banking institutions in poorer and less-developed countries. For example, the Stellar network is now utilized for microfinance transactions in Nigeria, the Philippines, and other developing countries. Given the often-shaky nature of finance in the developing world, Stellar lends a stability and trustworthiness that is badly needed in these countries. Stellar's currency exchange functionality has also attracted the attention of international finance and technology firms, with IBM seeking to use the Stellar network to develop cross-border payment platforms that make transferring money around the world a simple process.
6. What are Lumens? Lumens are the base cryptocurrency of the Stellar network, akin to how XRP serves as the base cryptocurrency of Ripple. Like other cryptocurrencies, Lumens can be bought, sold, and traded at exchanges and via wallets.
7. What makes Lumens valuable? Lumens are valuable because people find utility in them, same as any other currency, fiat or crypto. Stellar's usefulness as a cross-currency trading platform has helped Lumens become a valuable commodity in the cryptocurrency economy.
8. Where do Lumens come from? Upon the launch of the Stellar network, 100 billion Lumens were created. Additional Lumens are created through an inflationary structure in which the overall supply increases by one percent each year. This process is initiated once per week, and the new Lumens are distributed throughout the network via a direct voting process. This is another crucial difference between Stellar and Ripple, the latter of which has a fixed and unchanging supply of currency in circulation.
9. How does one obtain Lumens? Similarly to other cryptocurrencies, Lumens can be purchased, sold, or traded. Unlike other cryptocurrencies, Lumens cannot be mined due to the fact that the only way to increase the Lumen supply is through the inflationary process. Lumens are kept in wallets, digital or hardware units that can contain an infinite supply of Lumens. Wallet addresses are used to identify individual wallets on the Stellar network and transfer Lumens between users. To send Lumens, you must obtain the wallet address of the person you are sending it to; to receive them, you must provide your wallet address to the sender. Wallet addresses are rendered as a series of numbers and letters, though they can also be generated as QR codes to expedite transfers using a mobile device.
10. What are the upsides of using Stellar? Stellar, as mentioned above, is tailored towards users who need to quickly and cheaply convert money from one fiat currency to another. If you need to make frequent exchanges between various currency pairs, Stellar is an ideal platform to use. While similar to Ripple in many respects, Stellar's open-source nature and its decentralized control structure give it an antifragile nature that make it better for certain types of computing and financial tasks. Finally, Stellar possesses many of the existing advantages of cryptocurrencies, including low transaction fees, worldwide functionality, and total payment freedom.
11. What are the downsides of using Stellar? As a cryptocurrency platform, Stellar suffers from many of its downsides, such as a lack of acceptance among merchants, sometimes-slow transactions due to the necessity of blockchain verification, and constantly fluctuating value. Additionally, as a relatively new platform, many of Stellar's promised features have yet to be implemented or have only been implemented in a basic form. Because of the unpredictability with which the Stellar platform may evolve, the network may exist in an entirely different form years down the line. Finally, Stellar cannot be mined, which is a turnoff for some power crypto users.
12. What are some ways that Stellar is used? Due to its original function as a middleman for fiat currency transactions, Stellar is frequently used as a platform to exchange various types of fiat currencies. While Ripple has also been used for this purpose, Stellar's decentralized, open-source structure makes it far easier to implement the platform for use in developing countries, where options to convert currency are far more limited. As mentioned above, financial and technology giants have also begun using Stellar in order to speed and simplify cross-border payment processing in a manner similar to more conventional platforms such as TransferWise. Due to Stellar's relative newness, new uses for the platform are still being theorized and developed.
13. Is Stellar safe? No currency or financial system, including crypto and fiat, is 100 percent safe from abuse. However, Stellar has introduced a number of innovation that arguably make it safer than Ripple, from which it is descended. Decentralized control of the Stellar network makes it virtually impossible for individual actors to take control of Stellar due to the fact that network consensus is necessary in order to introduce major changes. Open-source development also allows a faster rate of innovation compared to Ripple, as users are able to contribute to the platform's advancement instead of waiting for updates to be pushed forward by the Stellar Development Foundation. It is in part because of this that Stellar has avoided some of the scandals that Ripple has been involved in, including being fined for violating the Bank Secrecy Act in 2015. While the future of Stellar is not guaranteed, thus far it has been proven to be a reliable store of value and transaction system.
14. Is Stellar a scam? As mentioned above, Stellar has avoided many of the problems that have plagued Ripple, most of which stem from Ripple's centralized control and opaque development process. Stellar's widespread adoption among financial institutions in the developing world is precisely because it provides a level of banking security that is often hard to come by in these countries. While there is no telling how the platform will continue to evolve in the future, at the moment, Stellar has proven itself to be a trustworthy means of exchange.
15. If Stellar is more advanced than Bitcoin and other cryptocurrencies, why don't people use it instead of Bitcoin? While Stellar may technically boast superior functionality in some areas compared to Bitcoin, Ethereum, or Ripple, it ultimately serves a different purpose. Pure cryptocurrencies such as Bitcoin are not designed to facilitate financial transaction or aid banking security; they are intended purely as a source of value and exchange. Stellar is designed not merely to be a currency, but to be an all-in-one network for the facilitation of cross-border payment exchange. This means that it will inevitably be used by those who are looking for different features and functions than other cryptocurrencies can offer. Ultimately, Stellar serves a different function than other cryptocurrencies that lack its feature set, and this means there will be a place for all of these currencies in the crypto ecosystem for the near future.
16. Can Stellar Lumens be mined? Unfortunately, no. This is because Stellar does not use a proof-of-work system for creating coins, in which miners are responsible for processing transactions. Uniquely, Stellar also does not use a proof-of-stake system either. Instead, additional Lumens are created through a process known as inflation voting. The Stellar network automatically increases the supply of Lumens by one percent each year, a process that occurs automatically each week in order to prevent rapid inflation and devaluation of the currency's value. Systems that are connected to the Stellar network are eligible to receive additional Lumens through a voting process that occurs automatically. It is unlikely that this system will be changed, meaning that inflation voting is the only way to receive new Lumens, aside from purchasing them directly.
17. Can I make money with Stellar? It is possible to make money with any investment provided you do your research and make prudent decisions. Stellar's adoption as a cross-border payments system has fueled much of its popularity, particularly with financial institutions in the developing world. It also possesses a number of inbuilt advantages over Ripple, namely its lack of centralization and its open-source nature. However, there is no such thing as a guaranteed payoff; all investments, including cryptocurrency investments, carry risks. To safeguard yourself, you should determine beforehand what your investment goals are and never invest money that you can't afford to lose. If you go into it with a clear head, you can use the Stellar network to make money.
18. How is the price of Stellar Lumens determined? Like all currencies and commodities, Lumens are governed by the law of supply and demand. Due to Stellar's unique system of increasing the monetary supply via inflation voting, Stellar Lumens have a more consistent price than other cryptocurrencies, though they are still subject to the peaks and valleys that are common in crypto investing. As mentioned above, however, Stellar Lumens will retain value so long as investors and financial institutions believe that Stellar has inherent value.
19. Could Stellar Lumens ever become worthless? Yes, due to the fact that many currencies and commodities have suddenly lost their value over the centuries. No currency that has ever existed has ever maintained a fixed, unchanging value; currencies retain value so long as users find them valuable. While Stellar Lumens have accumulated considerable value in the short time that Stellar has been active, there is no guarantee of what might happen in the future, so take that into consideration when making your investing decisions.
Stellar may have begun life as an offshoot of Ripple, but its developers have taken it in a decidedly different direction, establishing it as one of the hottest commodities in the "smart contract" tranche of cryptocurrencies.
Stellar provides the advantage of a robust computer network with which to process and tabulate financial transactions, coupled with a decentralized structure that makes the network impossible to hijack or hack. Stellar provides solid technical and economic backing for a wide variety of projects, particularly those reliant on open-source software and solutions.
Furthermore, the Stellar Development Foundation's support for third-party development has helped the currency grow by leaps and bounds, allowing it to compete with Ripple's superior marketing and centralized structure.
For cryptocurrency investors, Stellar is worth keeping an eye on for these reasons. Smart contract cryptos such as Stellar, Ethereum, and Ripple represent a new evolution in blockchain technology. Beyond serving as a store of value and a transaction mechanism, cryptocurrencies like Stellar provide all the necessary tools and infrastructure to serve as financial platforms in and of themselves.
It is because of this that Stellar is a worthy investment for crypto investors looking to diversify their portfolios. Few cryptocurrencies can match the stability, reliability, and potential for growth that it has.
EOS, the blockchain for commercial scale
EOS is a smart contract cryptocurrency platform that has attracted attention for two claims: it seeks to completely eliminate transaction fees as well as allowing users to conduct millions of transactions per second.
Launched in 2018, EOS is superficially similar to other smart contract platforms such as Ethereum and Ripple, but it promises to supersede them through the aforementioned features.
The ultimate goal of EOS is to provide a platform that supports industrial-sized decentralized application hosting, decentralized enterprise storage solutions, and smart contract capability, combining existing smart contract functionality with cloud computing for an all-in-one technology solution.
While EOS has technically not launched yet, it is currently possible to buy EOS tokens on the Ethereum blockchain, the sale of which will fund the launch of the EOS blockchain itself later in 2018.
EOS' developers are making bold claims, but they have shown themselves capable of backing those claims, making EOS a worthwhile investment for crypto investors interested in smart contract platforms.
EOS launched on January 31, 2018 by Block.one, a cryptocurrency development firm based in the Cayman Islands. The specifics of EOS were revealed in a white paper published in 2017, with the full platform set to launch as open-source software on June 1, 2018. To fund development, Block.one initiated a sale of EOS tokens on the Ethereum blockchain. EOS also boasts one of only two B-ratings from U.S.-based financial rating agency Weiss, with the other being awarded to Ethereum. (1, 2, 3)
As mentioned above, Block.one seeks to use EOS to solve two of the biggest problems with cryptocurrencies: transaction fees and transaction speed. Most cryptocurrencies have slow transaction times due to the nature of blockchain technology, with Bitcoin speeds in particular becoming increasingly slow due to the size of its blockchain. Fees are used to speed things up by paying miners to prioritize certain transactions, but these too have become increasingly expensive with certain cryptocurrencies such as Bitcoin. (4)
EOS aims to solve the scalability problem of currencies like Bitcoin by using multi-threaded technology, allowing it to run on multiple computer cores. Additionally, EOS uses a decentralized proof-of-stake system for its consensus protocol, making it similar to systems such as Cardano and Stellar that utilize all machines connected to their network to verify transactions, keeping the network from becoming centralized. (5)
EOS also seeks to function as an operating system, much like Windows or OS X, allowing programmers to develop decentralized applications. Two examples of platforms that utilize EOS technology are Steemit, a Medium-like blogging and content creation platform that is based on blockchain technology, and BitShares, a fully decentralized cryptocurrency exchange. (6) (7)
In addition to this, EOS' native token, in additional to serving as currency, also doubles as bandwidth and storage, allowing anything contained on the EOS network to be instantly delivered to anyone who is connected to it. How much storage and bandwidth is allocated to each EOS user is determined by how many tokens they own. EOS tokens will allow users to participate in governing the blockchain, also in proportion to how many tokens the user owns. (8) (9)
Although not formally released, EOS has become popular among cryptocurrency enthusiasts and developers. As mentioned above, both Steemit and BitShares are being developed with EOS technology. Everipedia, a Wikipedia-like online encyclopedia, is also using EOS technology to incentivize content creation on its platform as well as defeat censorship. By using decentralized EOS tokens to store and deliver their site, Everipedia will be able to evade censorship from countries such as Turkey and Iran that ban Wikipedia and similar sites. (10) (11)
EOS is effectively positioning itself not merely as a cryptocurrency, but as a software development suite and content delivery system. EOS' potential to host decentralized websites and applications as well as combat online censorship have made it a hot commodity among traders and a worthwhile investment.
EOS cannot be mined due to the proof-of-stake system it will use to verify transactions.
Much like Cardano, EOS' proof-of-stake system verifies transactions not through mining, but through achieving consensus from all users on the network. This is part of what makes EOS' claims of faster transaction speeds and no transaction fees possible, but it precludes users from being able to mine their own EOS. (12)
While it is technically possible to mine EOS at the moment, this is because the EOS tokens available for sale right now are based on the Ethereum blockchain, meaning that EOS miners are technically mining Ethereum. Once EOS' own blockchain launches, this will no longer be possible. (13)
1. What is EOS? EOS, or EOS.io, is a smart contract-based cryptocurrency platform that is focused on providing laser-fast transactions and eliminating transaction fees. It purports to do this through the use of multi-threaded technology, which will greatly speed up computing bottlenecks. This feature distinguishes it from other cryptocurrencies and has spurred interest on the part of investors and developers.
2. What makes EOS different than Bitcoin or Ethereum? EOS is primarily distinguished through its aim to eliminate transaction fees and speed transaction times, two issues which have long plagued cryptocurrencies. Aside from this, EOS is functionally similar to Ethereum because it aims to be an all-encompassing computer platform and not just a cryptocurrency.
3. Who created EOS? EOS was developed by private company block.one based off a white paper published in 2017. The actual EOS platform was not released until 2018, but EOS tokens based on the Ethereum blockchain were made available for sale before the launch of the actual EOS blockchain, with the intent of funding EOS' operations. Released as open source software in June of 2018, EOS was intended to solve scalability problems present in existing cryptocurrencies such as Bitcoin. Its speed and reliability have led to it being adopted by various websites and services, such as Steemit, a popular blogging platform, and Everipedia, a Wikipedia-like encyclopedia. EOS' nature allows for the creation of decentralized websites and platforms that do not rely on a central server, making them resilient to cyber-attacks and Internet outages as well as routing around country-level censorship.
4. Why was EOS created? EOS' developers were inspired by scalability problems with existing cryptocurrency technology. Bitcoin and other cryptocurrencies can only process a limited number of transactions per second due to the fact that each transaction results in the creation of additional blocks on the blockchain, a process that takes time. Additionally, because new blocks are generated through mining, cryptocurrency users must pay a mining fee in order to incentivize the processing of their transactions. As cryptocurrencies grow in popularity and more people begin using them, transaction times lengthen and mining fees skyrocket. This in turn hinders the cryptocurrency's growth, as users are reluctant to use a currency that takes a long time to process transactions and charges outrageous fees for doing so. While a number of solutions have been proposed to increase transaction times, such as increasing block size and implementing technologies such as segwit, no cryptocurrency has yet managed to eliminate fees entirely and make transactions instantaneous. EOS is the first cryptocurrency to solve this problem.
5. How does EOS speed transaction times and eliminate fees? Unlike other cryptocurrencies, EOS' blockchain is designed to use the RAM, CPU, and network bandwidth of computers that are connected to its network; indeed, it cannot function without using these resources. While this makes running and EOS-enabled system more taxing in terms of computer power, it greatly speeds transactions through the use of all available power. EOS utilizes multi-threaded technology, which allows it to be run on multiple computer cores simultaneously, greatly increasing the amount of computing power it has access to. To incentivize users to contribute computing power to the EOS blockchain, EOS periodically rewards users with additional EOS tokens proportionate to the amount of EOS that they hold. This is known as "proof-of-stake" due to the fact that EOS users are "staking" tokens as part of the network's operation. In effect, this eliminates user fees and replaces them with inflation, allowing users to send and receive money for free at the cost of a potentially infinitely expanding supply of coins.
6. Who controls EOS? While EOS' development is guided by block.one, its open-source nature means that anyone can contribute to its evolution. EOS users who stake their tokens are also allowed to participate in governing the network through a form of direct democracy, with each user having a vote proportionate to the amount of EOS that they own. This also makes it impossible for any one user to gain disproportionate control over the network, preserving the currency's nature as a decentralized, worldwide computing system.
7. What is proof-of-stake? Proof-of-stake is a system for generating new tokens on a cryptocurrency blockchain by using the computing power of existing users. It is distinguished from proof-of-work, also known as mining, in that users of a proof-of-stake cryptocurrency merely need to stake their tokens in a wallet in order to benefit. As such, proof-of-stake cryptocurrencies do not require specialized, expensive computing hardware in order to use. Individuals who stake their tokens will receive additional tokens periodically in proportion to the amount of tokens that they have staked, in a fashion similar to how a savings account will accrue interest over time. Many proof-of-stake cryptocurrencies require a minimum stake amount in order to receive benefits, with this amount varying over time due to the size of the blockchain.
8. Is EOS safe to use? EOS has become a popular cryptocurrency because its fast transaction speeds and lack of mining fees guards it against many common cryptocurrency attacks, such as double-spending attacks. A double-spending attack is when a user spends the same digital token twice, akin to how some people will tie a string to a coin before putting it in a vending machine, allowing them to pull the coin out and spend it again while still fraudulently getting something from the machine. Double-spending attacks take advantage of the period of time when a cryptocurrency transaction is initiated and when it is completed. EOS' instant transaction times mean that double-spending attacks are effectively impossible. While no computer system is 100 percent perfect, EOS has proven itself to be a safe and useful cryptocurrency.
9. Is EOS better than Bitcoin and Ethereum? "Better" has little meaning when it comes to cryptocurrencies with widely different functions and feature sets. EOS may be faster and cheaper to use than other cryptocurrencies, but it has other downsides that inhibit its utility in some situations. Bitcoin, as the most well-known cryptocurrency in the world, has an advantage in that it is accepted by more vendors and used by more people. Ethereum is a computing platform on which a large number of applications are built. Ultimately, you will need to determine what you are planning to use cryptocurrencies for before you can determine which one is best for your needs.
10. How do I get EOS? Like other cryptocurrencies, EOS can be purchased on an exchange using fiat currency or other cryptocurrencies. You can also receive it in transactions. If you already possess EOS, you can stake it in the EOS wallet to earn more of it, though you may have to stake a minimum amount in order to receive any benefits.
11. How do I send or receive EOS? Similar to other cryptocurrencies, EOS is kept in wallets, which can be digital or physical constructs. Wallets are identified on the EOS blockchain through wallet addresses, which are random strings of letters and numbers. To send EOS to another user, you need their wallet address; to receive EOS, you need to give your wallet address to the person sending it to you. Like other cryptocurrencies, EOS wallet addresses can be generated as QR codes that can be scanned with a smartphone or tablet.
12. What are the upsides of using EOS? As a cryptocurrency, EOS shares many advantages with other cryptocurrencies, such as total payment freedom, international availability, and 24/7 transactions. Unlike other cryptocurrencies, EOS lacks payment fees entirely, meaning you can make transactions for free. EOS transactions are also much faster than other cryptocurrencies, making it a useful investment for those who are interested in speed. Finally, EOS' smart contract functionality, when combined with its speed, has made it popular among app developers.
13. What are the downsides of using EOS? EOS carries with it many of the disadvantages of other cryptocurrencies, such as price fluctuations. EOS also cannot be mined, unlike other cryptocurrencies, and is not as popular as Bitcoin and other competing currencies, meaning it is accepted by fewer vendors and is thus not the best when it comes to financial transactions. This may change in the future if EOS' lack of transaction fees and fast transaction times become a selling point for more users.
14. Can I make money with EOS? Like any other investment, it is possible to make money trading EOS, though nothing is guaranteed. EOS' primary selling point is its lightning-fast transaction times and lack of transaction fees, which have helped it carve out a significant niche in the world of cryptocurrency. However, like with any investment, there is no guarantee of what will happen in the future. Ultimately, it is up to you to determine whether EOS' feature set makes it a good investment.
15. Can EOS be mined? No. Unlike most cryptocurrencies, EOS generates new coins through a proof-of-stake system instead of proof-of-work, aka mining. The primary difference between proof-of-stake and proof-of-work is that while proof-of-work requires machines to solve complex math problems to create new coins, proof-of-stake requires that users use their existing coins to contribute computing power to the network. Using proof-of-stake is why EOS lacks transaction fees; individuals who stake their coins (and thus contribute to the network's functionality) are rewarded with additional coins as an incentive. This also means that in order to make money with EOS, you must already own EOS coins in order to stake them. While it was possible to mine EOS prior to its formal launch, this was because EOS was still operating on the Ethereum blockchain, meaning that EOS miners were technically mining Ethereum. Since the launch of the EOS blockchain, mining EOS is impossible.
16. Where does EOS' value come from? EOS is like any other currency or commodity: its value is determined by the usefulness that its users find in it. As a cryptocurrency that has solved the problem of scale with fast transaction times and no fees regardless of how many users are on the network, EOS has carved out a place in the cryptocurrency economy. As long as users find EOS valuable in this regard, it will have monetary value on the market.
17. How is the price of EOS determined? Like any other commodity, EOS' value is determined by the laws of supply and demand. Unlike other cryptocurrencies, EOS' proof-of-stake system gives the currency continuous inflation, meaning that the supply of EOS will not level off in the future like Bitcoin's will. This will have an effect of controlling how expensive individual EOS tokens get.
18. Could EOS ever become worthless? Yes. Any currency or commodity has the potential to become worthless if people stop seeing it as valuable or useful. While cryptocurrency users have embraced EOS due to its ability to solve problems of scale, there is no guarantee that it will grow in the future. It is a relatively young cryptocurrency that lacks the longevity of Bitcoin and other competitors. All investments are a risk, meaning you should be prudent with where you invest your money and how much of it you invest.
19. Is EOS a scam? No. EOS has proved itself to be a useful and adaptable cryptocurrency that is capable of fulfilling a wide variety of needs in the modern economy. Additionally, due to the decentralized consensus system that EOS users, all users have a say in the governance of its blockchain. Like other cryptocurrencies, it is virtually impossible for any single user or entity to gain control of the network, since doing so would require taking control of the majority of systems using the network. Indeed, one could argue that cryptocurrencies are less of a scam than regular fiat currencies due to their decentralized nature, lacking central banks and governments that can manipulate interest rates and currency supplies.
EOS represents a unique niche in the smart contract ecosystem: an all-in-one system for creating, hosting, and delivering Internet content.
EOS makes it possible to host any kind of web content—from blog posts to videos to podcasts and music—in a decentralized form that is impossible to censor. This makes it a valuable commodity in an era in which social media and the Internet is increasingly centralized and censorship is arguably becoming a problem.
Furthermore, EOS pledges to solve the problem of cryptocurrency scalability, which has dogged the growth of Bitcoin and other cryptocurrencies. By eliminating expensive fees and shortening transaction times, EOS could easily become as useful and indispensable as traditional financial systems.
EOS' one major problem is that a good deal of what it promises is just that: a promise. Because the EOS blockchain has not launched yet, there is no definite way of seeing how the platform can live up to its claims. While Steemit and other platforms have achieved success through using EOS technology, there are no guarantees that EOS will work as advertised when it finally becomes available to the public.
Having said this, EOS has the potential to become one of the leading cryptocurrencies on world markets. Its unique niche of offering content creation and delivery services that can't be censored by governments or corporations sets it apart from its competition, and its pledge to eliminate transaction fees and speed up usage have plenty of appeal to all crypto users.
Because of this, EOS is worth keeping an eye on for both smart contract enthusiasts and traditional investors alike. No other major platform is doing what it is doing.
Cryptocurrencies6 months ago
Ripple, the blockchain for banks
Cryptocurrencies5 months ago
EOS, the blockchain for commercial scale
Cryptocurrencies2 months ago
Cardano, a top smart contract cryptocurrency
Cryptocurrencies6 months ago
Bitcoin, the original blockchain
Cryptocurrencies3 months ago
Stellar, the protocol for the future of money
Cryptocurrencies5 months ago
Monero, the blockchain of anonymity
Cryptocurrencies6 months ago
Bitcoin Cash, the hard fork of Bitcoin
Cryptocurrencies6 months ago
Litecoin, the faster bitcoin


text:
After a tree is removed from a location, an undesirable eye sore referred to as a tree stump is left as a haunting pointer of the dreadful deed. A natural method of tree stump elimination is a fantastic option to appease the tree spirits as opposed to typical stump grinding or hand-operated elimination. Nature's technique of recycling is known as decomposition. Decay, likewise referred to as rotting or decomposing, is simple, basic (for humans), and also healthy and balanced for the atmosphere.
Picking all-natural disintegration enables nature to do all of the work, but it requires time for the stump to rot away completely. Fortunately, there are several points to do in the meanwhile. The stump can be included it into the lawn decoration. It can be sculpted into a comfortable chair. It can be used as a flower-pot stand. For those with additional creative juice, a deteriorating stump is the perfect tool for producing a sculpture of your aggravating next-door neighbor. If working a stump into landscape style is not a suitable choice, there are methods to enhance the natural stump elimination process.
Disintegration takes place at differing rates relying on the dimension, type of tree, climate, the quantity of other rotting points in the area, as well as various other elements. Fungis as well as microorganisms will gradually break down points on their own, however they can be sped up.
There are 2 simple ways to increase the price of disintegration.
Raise the surface area of the stump. This can be accomplished by drilling openings right into the leading and sides of the stump. Enhancing the surface provides even more space for bacteria and also fungi to grow and consequently increases the amount of germs and also fungi that are consuming food. Think about this as including more chairs around a table throughout dinner. Even more chairs permit more people to eat the food. Even more people will certainly eat the dish much faster.
Feed the employees. Place high energy food like garden compost and also manure around the stump. Including this abundant food supplies fast power for germs and also fungi and aids them proliferate throughout the woody issue. Think of this as having an appetiser prior to supper. Appetisers can be consumed promptly and obtain individuals's cravings going. Once the appetizers run out, the main dish is taken in, often voraciously.
For those wanting to get a little bit extra out of a rotting landscape, expanding edible mushrooms is a possibility. Edible mushrooms occasionally grow out of pure luck, however a couple of things that can enhance your possibilities of getting a premium reward.
The proper food. Certain types of wood are wonderful for growing mushrooms. If the stump is oak or beech, both finest types of timber for growing mushrooms, the probabilities enhance considerably.
The proper problems. Climate effects mushroom growth. Particular mushroom types expand much better in certain areas at details times. For specific sorts of mushrooms, good area as well as timing are required.
The appropriate start. Mushrooms don't show up from nothing. They need something to expand from. The simplest method to make certain mushrooms range get to a stump is to acquire plug generate, which can be bought online. These plugs are placed into drilled openings and serve as seeds for mushroom development.
Keep in mind: It is important to remember that not all mushrooms are edible as well as some are exceptionally poisonous.
If time is not an issue, all-natural disintegration is an efficient, environmentally friendly, and potentially yummy technique of stump removal past regular stump grinding.
know more about Stump Removal Hampshire here.

subset: commoncrawl


text:
Oh how I wish I had the wet brush when my daughter was little. My quality of my life could have been vastly improved not having to fight with her about brushing her hair and getting the tangles out. She actually used to the hide the brush! Finally her dad took over and that was better, but I still ... View Post
Archives for March 2013
Nasopure The Nicer Neti Nasal Wash System
Hopefully it hasn't made it's way to your house yet, but we've been plagued with sinus infections and colds in our house for most of the winter. And while Spring may be here...it seems like the cold weather is still sticking around (as are the colds.) Here's one item you may not have considered ... View Post
Colgate Optic White Review
With the new bright lipsticks for spring and summer you want your smile to be bright and white too. A bright lip with a yellow smile is not attractive. Now whitening has been made quick and easy--no trays, strips or tons of dollars spent with new products from Colgate® Optic White®. In fact, ... View Post
J.R. Watkins Coconut Milk & Honey Body Butter and Body Scrub Review
Nothing says summer and vacation to me more than the scent of coconut. And nothing says swimsuit ready more than soft, smooth, hydrated skin. Now combine the scent of coconut with products that exfoliate and moisturize my skin leaving it insanely smooth, glowing and hydrated. Who needs 80 degree ... View Post
Mane Teeze by T&M Hair Perfume Review
Don't you just love flipping your hair throughout the day and catching a whiff of your freshly washed locks? What if you could get a little more of that …without having to wash your hair again? Check out the most incredible thing to touch my hair this year: hair perfume! Yum! Mane Teeze by ... View Post


text:
Market prices do not have a Gaussian probability density function as many traders think. Their probability curve is not bell-shaped. But trader can create a nearly Gaussian PDF for prices by normalizing them or creating a normalized indicator such as the relative strength index and applying the Fisher transform. Such a transformed output creates the peak...
Rocket RSI indicator script. This indicator was originally developed by John Ehlers (Stocks & Commodities V.36:6, RocketRSI - A Solid Propellant For Your Rocket Science Trading).
This script implements price divergence module using signals from several factors like: RSI, RSI Stochastic, MACD, Volume MA, Accumulation/Distribution, Fisher Transform and CCI
Direct port of the original Fisher Transform to TradingView: media.johnwiley.com.au www.mesasoftware.com This might be better suited to be combined with other indicator to be effective, such as the Fisher Transform of RSI. I hope you have found this useful :)...
RSI inverse fisher transform (fishy turbo) as described here: autotradingstrategy.wordpress.com forexsb.com update: added color conditional.
Colours change faster now using the white line as reference rather than the bars.
(Edit of ToTheMoon by Spectrum101) In this chart we are using multiple moving averages to normalize momentum based percentage change
🐮 Bull Bear Filter Stochastic v1.0 🐻 by Cryptorhythms This is the next evolution in the Bull Bear Filter system, and while it may look plain, its quite powerful. Utilizing the price action leading qualities of BBF, we then apply a stochastic transform to the vanilla BBF value. This results in an excellent timing indicator. Default Settings are optimized for...
green = buy, red = sell, Enjoy it while it lasts. Wavelet basic v0.1
Based on 3 Fisher transforms -- this script look for confluence on crosses of 0 this is alert enabled; make sure to use 'once per bar on close' hope it helps xoxo --sn00p
RSI inverse fisher transform (fishy turbo) as described here: autotradingstrategy.wordpress.com forexsb.com
This is a simple code that allows a user to use Fisher Transform Indicator for multiple time frames.


text:
We are able to respond immediately, to a variety of emergency situations!
Plumbing Emergencies can be a problem that also occurs frequently but must be resolved as soon as possible. However, to avoid further more serious damage, call certified Plumbers in Poole. Fast Response in 30 Minutes. Find The Best Local Plumber Near You. All Work Guaranteed. Local Plumber in Poole is able to offer an Expert Plumbers in Your Area call service that meets every type of need and does it in a timely and decisive manner.
If you need a 24-hour Plumber in Poole, call us at 01202080125. In addition, the technicians that collaborate with us can assist your home with plumbing maintenance issues. Above all, you do not have any emergency problems in the future. Call for an emergency solution online.
Plumber in Poole Emergency 24 HOURS
CALL ME TO 01202080125. We are available 24 hours including holidays!
Emergency Plumber in Poole 24/7 has been involved in plumbing work for many years. Over time, the trust of an audience of customers who appreciate the seriousness and professionalism. In other words, which each operation is conducted has been won over. Furthermore, find Your Best Plumber in Poole. Thus, we are Fully Qualified Plumbing Service. You can also Fix Your Plumbing Problem Today. In fact, we are Local Experienced Plumbers. Call the technicians Now! Thanks to the many years of experience of the professionals available and the large number of spare parts that they are immediately usable, without having to wait for the emergence of the parent company. The Plumbers in Poole has a 24-hour availability because we are aware that plumbing emergencies can happen at any time. Contact Local Plumber in Poole at any time to have the urgent plumber in Poole at your service.
24 Hour plumber near me
24hr Emergency Plumber in Poole is a well-known company operating in the local plumber near me sector that offers a multitude of services in all areas of the city and in nearest plumber neighbouring municipalities. In particular, we deal with different types of plumber repairs, Emergency plumbing service, air conditioning repair, boiler repairs and water heaters, sink and pipe repairs, ready-to-use interventions to manage flooding and leakage emergencies and sanitary fittings, in particular of tanks bath and shower cabins. Emergency Plumbing Service. Reliable and Experienced Plumbers. Call and Fix Your Problem!
Emergency Plumber in Poole is a reference point for repairs of air conditioning in local plumbing Poole and plumber near me. With the installation of air conditioning systems in recent years it has been possible to significantly improve the living comfort by relying on a machine that can cool the rooms in a short time and keep the desired temperature constant.
24 Hour Emergency Plumber in Poole ready-to-run company is a well-known company throughout the province to manage emergencies of water overflows and losses as quickly as possible. In any case of overflows, an immediate urgent plumber with suitable means is very important to avoid to meet other problems such as water infiltration in the floor.
Make sure leakage and fault detection are handled by an authorized plumber who needs help in the middle of the night, during holidays or on weekends. Local Plumber in Poole near me is here to link the leak and updates that are no longer needed. Tubes leaks are more difficult to find, and even think that they have found the problem of a problem.
The Poole H24 Plumber Emergency service company specializes in boiler and water heater repair services in Poole. The major problems with boilers and water heaters are found especially during the winter, months when their failure causes quite a few inconveniences. Boilers and water heaters are essential to guarantee the emission of hot water.
24 hr emergency plumber in Poole offers its customers emergency for the installation of sanitary ware. In particular, Emergency Plumber 24 hour takes care of assembly and replacement of bath and shower. When you decide to replace a bathtub with a shower cabin and vice versa, the first thing to do is contact a professional to evaluate the work to be done
Uncovering toilet, shower or sink? In Plumber Poole, we think the Emergency Plumbing Repairs to free your discharges quickly and effectively. When it comes to blocking or seriously clogging domestic waste, disgorging products on the market can not help you. Your exhausts need a professional emergency plumber near me.
24 Hour Boiler Repair a day to guarantee the resolution of all your problems related to boilers of any brand at any time, even at night and on holidays. If you need a Boiler Installation or Replacement, Combi Boiler Installation/Replacement, Gas Boiler Installation/Replacement, Plumbing Technician in Poole will help you out with any problem you may be experiencing.
Emergency Services 24 hour offered by the Emergency Plumbers 24hr/7 in your local area cover.
Any time of day or night, even on holidays, we are here for you during a plumbing emergency at your home. Certainly, you can call us every time you need.
Certified professional plumbers are ready to fix your home appliances. Besides that, the technicians that we provide are waiting for your call.
We have the best prices that are affordable for all. The unbeatable service and prices will be sure to satisfy all of the customers.


text:
FireDating - Find, Chat, meet firiends nearby you 1.2 APK
- Version: 1.2
- File size: 7.77MB
- Requires: Android 4.1+
- Package Name: com.firedating.chat
- Developer: Orangeb Development
- Updated: July 15, 2019
- Price: Free
- Rate 5.00 stars – based on 1 reviews
We provide FireDating - Find, Chat, meet firiends nearby you 1.2 APK file for Android 4.1+ and up.
FireDating - Find, Chat, meet firiends nearby you is a free Dating app.
It's easy to download and install to your mobile phone.
Please be aware that ApkPlz only share the original and free pure apk installer for FireDating - Find, Chat, meet firiends nearby you 1.2 APK without any modifications.
The average rating is 5.00 out of 5 stars on playstore. If you want to know more about FireDating - Find, Chat, meet firiends nearby you then you may visit Orangeb Development support center for more information
All the apps & games here are for home or personal use only. If any apk download infringes your copyright, please contact us. FireDating - Find, Chat, meet firiends nearby you is the property and trademark from the developer Orangeb Development.
You want to get in touch with interesting new people ?? near you and find new friends that share your personal interests ? ? Using the FireDating app you will be able to find pleasant singles nearby that are just waiting for you to get in touch. Chatting, flirting ? , dating and meeting new acquaintances has never been that easy. And who knows - maybe you will find a partner for life ? in the FireDating app. Sign up in just a couple of moments and visit the profiles of singles in your area right away or make the first move and start chatting with the girl next door ?? .
FireDating at a glance:
♥ An easy and convenient way of approaching singles in your area ?
♥ Thousands of enjoyable people to get in touch with + new members every day
♥ Show that you like someone by giving him or her a like ? . If the other member shares the same feelings for you, the chat between you two will start right away.
♥ City search ? : Look for singles in cities worldwide to discover your next beloved one.
♥ Accurate matches thanks to MatchMe: FireDating informs you in real time about other members liking your profile.
♥ 100% secure app & free download ✅
It's so easy?
Install the free FireDating app on your smartphone, upload a profile picture and you are all set to discover interesting singles nearby.
Match & Chat❤
Everything starts with a like ? - if your single counterpart feels the same, it's a match ? . This way you can conveniently get in contact with people in your area, chat, flirt and fall in love.
Meet your new girlfriend ?? or boyfriend ?? and get to know everything about your new crush. Do you share the same opinions, personal interests, hobbies, and preferences? Do your zodiac signs match? It's all up to you to find out ❤.
Your personal data is handled in strict confidentiality and is neither sold nor passed on to third parties. We only collect data that is required to operate the platform.
❤Thousands of singles are already using FireDating. What are you waiting for?❤
With your valuable feedback, we improve our app and services permanently. However, if you find anything that needs improvement, let us know and send a mail to [email protected] right away. Thank you!


text:
Noel+ wrote:I love aromatherapy! Do you have a site on the web? If not, do you know a great one for oils? I love reed diffusers but the oil only lasts a week or so!
Merry Sage wrote:You can find my wee site here; Bloomin' Lovely Aromatherapy
Mrs.Claus wrote:Merry Sage wrote:You can find my wee site here; Bloomin' Lovely Aromatherapy
Feel free to add your aromatherapy site to the Holiday Surfing board too.
Winterself wrote:thanks for shareing your CIJ info...interesting.I thaught everyone celebratd it in december...lol...I learn something new all the time...
Winterself wrote:I think its a great tradition...if it was cold here during july i would do it..
Users browsing this forum: No registered users and 1 guest