Suppose you own an apartment, but you have to sell it as you are being promoted and have to move to a different city. So, rather than looking door-to-door to sell your space, you look for the broker and pay him some part as fees to find the buyer for your property. Then you find a buyer, but somehow he is unable to pay the required amount and you need to run for paperwork and packing and so much other stuff. Now, take a breath and think if you just need to fill the terms and conditions, some ifs and when on the digital network to sell your apartment, that would have been much more hassle-free exercise. This is possible by deploying the smart contracts with the help of blockchain technology. Payment completion, ownership transfer, and compliance of obligations, all can be done through smart contracts. In this article, let us learn about smart contracts and also get the basics of- how does blockchain smart contract work.
What Is Blockchain Smart Contract?
You must have landed on this article after asking yourself- What is Blockchain smart contract? Nick Szabo, came with the unique concept of smart contracts on a distributed ledger in 1994. He advocated that smart contracts can be written digitally in codes, stored and supervised by the number of computers connected to a network. Thus, it can be understood as the traditional contract written digitally and controls the transfer of digital assets under the conditions mentioned in the contract. So, in a way smart contracts are enforced by codes.
There are some of the features which make the digital smart contracts adaptable in the present world. Being embedded in the blockchain, smart contracts are highly trustworthy as they are non-immutable with the best backup available. Without an intermediary, two parties can directly communicate with a smooth, accurate, and speedy transfer of assets. Smart contracts not only save time, but also a huge amount of money and also the pain to draw money from banks (online transfer is available)
How Does Blockchain Smart Contract Work?
Developers and newbies might be curious to know- How does Blockchain Smart Contract work? Is some rocket science or Hi-fi programming involved for executing contracts? In a simpler way, you can understand that smart contracts work on the principle of “If-Then” that means a deal will strike if the conditions mentioned by the developer of the smart contract are agreed upon by the other party. And the automatic transfer of digital assets will take place.
Let us try to clarify the principle in more simpler way:
IF you sell the particular object X, THEN the sum of money in the form of cryptocurrency will be automatically transferred to your account.
OR
IF you transfer a certain amount of cryptocurrency to my account, THEN I will send the particular object to you in automated form.
So if someone asks you- how are smart contracts executed?, you can explain them like:
It is like in early childhood when your mother used to say that she will buy you a bicycle only when you get certain grades in your school (sometimes even bicycles get replaced even if you get good grades!). But in the form of a smart contract, it is like a bicycle will be soon transferred to your home as soon as your result is out.
Thus, a smart contract is like a digital contract written in cryptography codes with details and permissions chronologically arranged working in automated form as per the order of obligations are getting fulfilled. The contract which involves complete transparency, guarantee of non-alteration without prior information and inexpensive without any middleman.
How To Create Smart Contract In Blockchain?
Are your coding skills trying to nerve out? Or Do you wish to ease out your tasks through smart contracts? Because then only you would be interested in know-How to create smart contract in Blockchain?
The Bitcoin network was the first one to deploy the smart contracts for easy transactions after the completion of the conditions mentioned. Only the basics of digital contracts were introduced in the Bitcoin network before the advent of Ethereum in 2017. The platform of Ethereum exclusively facilitates the developer and programs with standards and open-source protocols to develop smart contracts for various purposes. Many of the other platforms like NEO, Nxt. Today and many more are also available for the purpose of creating smart contracts only.
To create a contract, you can log in onto a particular website. Then you need to find the open-source of the contract you need to customize. (Like a solidity contract on Ethereum network). After that, you need to define an abstract token and store it on the open-source code. Following the approach of Test Driven Development (TDD), you can further complete the coding process. For the final step, you have to compile, test, and scale your smart contract so that it can be launched in the mainstream.
Summing Up
Initially the crypto community was thankful to Blockchain technology for introducing the concept of smart contracts but now various other sectors are exploring the benefits of them. Smart contracts without Blockchain is an unimaginable concept as the decentralized technology is the one that gives up the shape to contracts. Smart contracts easily help in the record-keeping process, direct dealing between parties, detecting fraudulent activities, saving resources, and also enhancing the trust between parties. Smart contracts can be proved as the future for various industries which would not only ease their supply chain management process but can help in improving the customers’ experience at large. Just a simple logic and the customized coding of conditions of contract can offer you the way to automated transfer of digital assets after the conditions get fulfilled.
I hope this article has cleared the concept related to- how does blockchain smart contract work and gave you more clarity about Blockchain technology-based smart contracts. So, next time just remember the concept of “If-Then” when you come across smart contracts and relate to the examples mentioned.
Articles You May Read
Real estate is a highly diverse industry with massive human involvement. It is a commodity that is needed for living, doing business, entertaining ourselves, and also for recreation purposes in the form of shelters, buildings, theatres etc. In terms of investment, property in the form of land is always considered as one of the long term option which is associate with high profits. As the industry is expanding, challenges are being faced by the stakeholders of the industry. Problems never come alone, they are always accompanied by solutions. So, the Blockchain technology is intruding in the real estate sector to remove the hindrances and open the flood gates for potential fresh investments. In this article, let us discuss about one of the solutions of tokenization offered by blockchain technology to help in reviving the infrastructure sectors. And alseo suggest some tips to manage your Blockchain property.
What Is Tokenisation Or Blockchain Property?
Blockchain technology aims to change the experience for the real estate community from inside out. Tokenization or digital securitization of the assets of real estate is one of the concepts introduced by Blockchain technology in the real estate sector. Through the approach of tokenization, digital assets can be backed by real-world assets like real estate, real estate funds, revenue streams, governance rights, and more. These assets after getting converted to non-sensitive equivalent called tokens, could be made accessible to a pool of potential investors and being leveraged to raise capital. Once the project gets completed and launched or the tokens got listed on any blockchain technology, they can be traded or exchanged to earn profits.
Blockchain real estate startups tokenize assets to ensure sellers that they actually own property and buyers have the funds to capitalize on the project, sometimes this property is referred to as Blockchain property. In a way, tokenization does not only increase the liquidity of traditionally illiquid assets but also make those assets tradable. It is like owning the property by owning the tokens only.
Benefits of Tokenization In Real Estate
In present times, the real estate sector is staggering due to lack or limited capital available to the sector. But the tokenization with its several benefits aims to push the sector and to captivate the attention of investors.
- Fractional Ownership: Instead of buying whole property on your own, the property can be own by different investors depending on their financial capabilities. Tokenization made the fractional ownership possible where multiple can buy tokens and co-own the property. This increases the inflow of capital and allow the sector to complete their projects.
- Liquidity Improvement: Earlier one has to wait for ages to sell their property and earn the profits associated with it. But now, if the project had released the tokens, then you just need to login to the crypto exchange where the token is listed and just sell or encash it.
- Risk Reduction: Many of the investors remains skeptical for locking up the huge amount of money in a single property,. But tokenization offers them an option to lock up even small amounts of funds for long as they can, thereby reducing the risks related to investment.
- Reduce Intermediaries: To invest in any property, you always need the help of brokers or property dealers or someone who can help you in decision making, which comes with huge commissions. But when certain real estate venture release token, you just need to analyze their website and you can directly purchase without any intermediary.
- Hassle-Free Cash Flow: You need not worry about the cash or cheque, Paypal or debit/credit cards to complete your transaction, most of the times most of the mode of payments are available for investors.
After reading the benefits associated with tokens of the real estate sector or Blockchain property, if you are thinking to buy some tokens or wish to diversify your portfolio, then you must read the next section briefing the tips to manage your Blockchain property.
Tips To Manage Your Blockchain Property
You need to manage or handle your blockchain property or tokens backed by real assets with the utmost diligence. You can assure the efficient management by keeping certain things in mind:
- Wallets: After purchasing the tokens of a particular real estate project, do not forget to transfer them in your digital wallet, either hot or cold, desktop, or mobile. Keep private keys of wallet and recovery phrases of private keys safely with you.
- Calendars: Various sites provide the details related to launch date, expiry, or extension date of tokens which sometimes affect the market sentiments. Keep yourself updated with events of real estate and token related information to manage your Blockchain property.
- Social Media Websites: Social media platforms have been turned into a platform delivering both real and fake news. So, you must constantly keep an eye on authenticated platforms like Twitter or Reddit for the announcements or issues related to your Blockchain property. In this way, you can strategize for long term investment.
- Accounting Tools: The value of property fluctuates with various social, economic, and political factors, thereby affecting the worth of tokens. So, to stand in for the long term and gain the wishful profits, you must deploy some accounting tools which can help you in systematically organizing the assets on a single interface with needful information.
You can easily manage blockchain property in 2020 by deploying the few tools and educating yourself about the real estate industry and the revolution started by Blockchain technology.
Summing Up
Many startups in the real estate industry had already started giving opportunity to investors to build up their blockchain property. RealBlocks, issue tokens to create new avenues and let investors enjoy fractional ownership; Harbor, act as compliance platform to tokenize real estate funds and increase transparency; Slice, allow the small investors to own the part of the property and many more like Meridio, Reasi, etc, are deploying the blockchain solutions to expand the real estate industry. Blockchain implementation in real estate is the need of the present and future as it involves highly intense transactions, a number of stakeholders, contract formation, and unlimited capital to grow. Blockchain technology has the potential to reduce operational costs, downsizing the intermediaries, and encourage the flow of investments. So, don’t hesitate to buy some tokens and contributing to the real estate sector.
Articles You May Read
Presently, the word “identity” is highly vulnerable to “theft”. Personal details are being stolen from nowhere and then utilized for increasing the market cap. In the 21st century, modern problems need modern solutions. Besides being a magical wand for the financial system, blockchain technology is gradually captivating the interest of people belonging to the non-financial sectors. Blockchain technology is coming forward to resolve the issues related to the “stealing of identity” by offering greater control to customers on their personal information shared. You cannot avoid sharing information during resident registration, birth certificates, wedding certifications, online account logins, and at many more places, but with blockchain identity solutions, you can protect your data. This guide aims to give you clarity on the blockchain identity management solutions and some tips to build an identification app via blockchain.
Why A Blockchain-Based App Is Needed For Identity Management?
Presently, you have to share your ID in one or the other way. Sharing IDs at multiple places creates several challenges associated with the privacy of information, fear of losing or misuse of data, forgery of personal information, security, reliability, and many more. But, deployment of Blockchain identity solutions in an app, has the potential to solve the majority of issues. A decentralized model of distributed ledger or blockchain technology can assure the security, privacy, and control over the personal information shared by the user. The self-sovereign identity can help in strengthening the trust of the participants while they are sharing their IDs. Thus, a decentralized identity is meant for the peer-to-peer exchange of information enabled by blockchain and implemented by global standards, which can be introduced in mainstream via blockchain-based app.
How To Build An Identification App Via Blockchain?
Do you belong to some enterprise, where you wanted the security of personal information of your employees and also of your customers? Do you want to assure your customers that their information won’t be tempered and is completely safe? Then, you can learn here to build an identification app via blockchain which can resolve many of your doubts and problems too.
Define Project Scope
Defining project scope involves choosing a platform to develop your app which best comply with your needs. There are several platforms available for the development of apps that provide you with basic protocols and you can utilize them to design your product. Thus, the highly recommended ones are Ethereum, BigChainDB, Hyper-Ledger Fabric, Quorum, and many more. Ethereum enables the development of Decentralised Apps backed by smart contracts and hence preferred by the majority of developers.
Open Your Account
Once you had decided to choose a particular platform to design your app, you need to create your developer account by signing up to their website and filling up the needed information(Do not worry! Your details are safe). You need a platform for open-source codes, protocols to design your app( not from scratch), test some of the elements like smart contracts and also to popularize your app.
Upgrade Your System With Tools
Before start developing your blockchain-based identity app, you need to update or install at least tools mentioned below:
- testrpc: easy-to-use blockchain client which offers “Command Line Interface”. You can use the GitHub documentation of the platform to install and configure
- JavaScriptAPI: install JavaScript API of a particular network to communicate with it. Ex: web3.js for Ethereum
- Truffle: install a handy tool for compiling, testing, and deploying smart contracts specially for the Ethereum network.
- Browser extension: you need to install an extension like MetaMask to test smart contracts and communicate with the network.
Thus, you need to set up the tools as per your platform network by installing and upgrading them on your system.
Design And Develop the Front and Back End
Back End needs to be handled by coders of the development team. For the decentralized blockchain app, the team needs to code for smart contracts (generally available on platforms as open-source) in a preferred programming language. A tip of advice is to keep the code simple initially to avoid the likelihood of bugs and then gradually complicate it.
Front End needs to be handled by some designers and experts in developing Application Program Interfaces. Outlook must be intuitive, user-friendly and self-explanatory.
Testing And Launching
Before utilising your app in the mainstream you have to test your app. If the app is being developed for your own enterprise, you can have the trial period for 15 days by randomly filling the data in the app and publicising it, but if you have designed the app to outsource, then you have to come with various versions and finally with the end product. After the trial period, you must welcome changes and improvisations so that you can finally come up with a better final product to solve the issue of identity management.
Thus, this article mentions about few of the bullet points that need to be taken care of while building your blockchain-based identification app, unlike any blockchain identity management tutorial where you can understand about the basing coding and designing.
Summing Up
Identity management is one of the latest issue that can be easily sort out if the Blockchain technology will be utilized judiciously with the help of an efficient team of coders, app developers, strategists and few more specialists. Few of the apps like Validated ID, Keyp,New banking, Metadium, Thekey, Trusti and many more had came up in the market to solve the challenges related to the management of identity being faced by enterprises and organisations. Not even the private sector, but public-sector equally needs to deploy Blockchain-based apps to assure the citizens about the security f their personal information shared during various processes like receiving benefits from schemes, booking railway ticket, filling the form to open bank account, immigration procedures and many more. To build an app via Blockchain might sound difficult but utilising the services of already available apps might not be the difficult task for various companies. So, before the issue turn into crisis, Blockchain must be given an honour to manage identity solutions.
Articles You May Read
Blockchain technology is one of the latest and innovative developments in the digital space. After getting popularised by the introduction of cryptocurrency, blockchain seems to be the promising technology that has the potential to transform the experience of the global economy. The paradigm of technology is not been limited to digital currency but it has been expanding in numerous sectors like that of healthcare, real estate, logistics, gaming, entertainment, and many more. Many enterprises are diligently working to develop their mobile apps based on blockchain technology to improve their efficiency and reinvent the customer’s experience. Also, many of the skilled coders are looking out for the technology to develop something new for the industry. This article can help you to create a mobile app on the blockchain (not coding wise obviously!) and might boost up your confidence to start developing apps.
How To Create A Mobile App On Blockchain? | Lets Chain The Steps
Before starting to develop an app on Blockchain, you must be clear whether you wanted to develop crypto-based mobile apps( which include digital wallets, DApps, or cryptocurrency) or non-crypto based apps( independent of crypto and intended to utilize distributed database). Let us start exploring the steps you need to follow to create blockchain mobile apps.
Analyze Your Problem, Accordingly Define Goal
You might land upon the idea to create a blockchain-based app if you are facing the problem with your usual system or trying to improve the system. Make sure, before starting the development, you must be crystal clear of the purpose, challenges you are ready to face, cost incurred and of course be sure of the fact that the app can be the best option to improve the experience.
Select The Right Platform For App Development
As the technology is gaining popularity, there are many platforms available in the market which can facilitate blockchain app development. You need not develop the app from scratch but you can utilize their standards or protocols to make your own app. You just need to consider a few points before selecting the platform like licensing terms, adaptability of the platform, conditions related to updation, type of network, and most importantly ease of accessibility. Most commonly used are: Ethereum, BigChainDB, Hyper-Ledger Fabric, Quorum, and many more.
Design And Configure Your App
You need to create a blueprint of your app and have to decide about some of the points priorly like: Type of model: Hybrid, in-house or cloud-based; Permissions: Limited, permissionless, private or hybrid; consensus mechanism: Proof of work, proof of stake, proof of elapsed time; and also the best option of the stack which compliments the chosen platform. After designing, you need to configure your app with the utmost attention as some of the components might not be altered.
Build Up Application Program Interface(API)
Any of the platform you choose to develop the app, give you the options of pre-built APIs which can be easily customized as per your needs and requirements. You may need to tailor the existed APIs for managing the data verification process, address generation, managing smart contracts, data storage, and for many other tasks. The backend needs to be developed carefully by keeping each and every point in mind.
Creating User Interface and Console Mechanism
Now when the backend has been developed or in process, you have to decide about the intuitive user-friendly interface or front end of the mobile app. It has been recommended to deploy cross-platform mobile app development language, which must be at least compatible with Android and iOS users.
Testing And Improving
You need to test your app before launching the complete version in the market. You could launch an alpha or initial version of your app to identify crashes, latency memory, scalability and storage issues, problems associated with performance, and many more. You can also have some insights from the existing blockchain community by submitting your alpha version on the associated forums. After identifying the issues and having the recommendations, you can launch a few of the improvised versions before the final app.
Blockchain mobile app development is not at all an easy task, but it is not that difficult if you are clear with objectives, have experts with you, and know the path to move.
Benefits of Blockchain-Based Mobile Apps
Blockchain-based applications are embedded with ample benefits that not only ease the transaction process, but helps in the process of authentication, supply chain management, cloud storage, and many more.
- Transparency: Every transaction is recorded on the blockchain while maintaining anonymity
- Decentralization: No intermediary to manage transaction, only requires a consensus mechanism
- Accessibility: Peer-to-peer blockchain-based app runs on the number of nodes backed by the automated system, thereby high availability or accessibility.
- Security: Cryptographic techniques deployed by blockchain maintains a highly secured network
- Cost-effective: No middleman, no additional books to maintain records, no device required to trace the transaction and many more reasons make it cost-effective.
Blockchain technology stands out in the modern technological era with a huge number of benefits which helps in easing out the problems associated with enterprises and their services to customers. This technology is not meant only for cryptocurrency, but multinational companies like Microsoft, Dell, IBM, and many more have already started exploring the compatibility of blockchain with their businesses.
Summing Up
It can be concluded that blockchain-based mobile applications can be the near future. It could be possible that the majority of developers of enterprises will look for the responses to-how to develop a blockchain application? Already, few of the popular apps like Spotify, Warranteer, IBM Blockchain, MedRec, Securrency and many more are utilizing the blockchain technology. So, if you had made up your decision to create a mobile app on the blockchain, then you should not step back and start thinking to actually develop it! Blockchain technology with its numerous benefits is here to stay and expected to improve in the future, so getting started a bit early is of no harm! Hopefully, this article on creating the blockchain-based apps will help in boosting up your confidence and help in at least initializing the process.
Articles You May Read
Crypto space is expanding in all the dimensions, in terms of trading volume, market capitalization, and also in terms of new products and services. When a new project is being released in the market, the crypto community may not outrightly show their support or accept it(unless backed by a reputed company or something is given in free!). So, to bring the new projects in the mainstream and reach the community for better adaptability, several tactics or marketing tools have been deployed in crypto space. Unlike the traditional schemes of giving discounts and offering free samples, crypto industry offers free tokens of the associated new project, known to be as crypto airdrop. Let us just explore one of the approaches of few of the cryptocurrency airdrops which is being used popularly to make the project for gaining the commitment of the crypto community. Along with it, this article will also list out some of the latest airdrops of present time where you can sign in to claim your tokens.
What Are Cryptocurrency Airdrops?
If you want to know everything about cryptocurrency airdrops, then the first question that will obviously pops in your mind- What are cryptocurrency airdrops? Airdrops are steadily becoming an integral part of the crypto sphere but still the concept is a little bit tricky to understand. In a simpler way, for many projects, it can be understood as the approach to rewarding the customer base for supporting their ideas. In crypto terms, airdrops are distribution of free utility token to customers who are supporting particular ICO project. (ICO is not mandatory though!). If ICO is a fundraising tool then cryptocurrency airdrop is the marketing tool to gain the back of the majority of the crypto community. One of the interesting fact associated with airdrops is that you can receive the “totally free” tokens sitting anywhere in the world just clearing Know Your Customer (KYC) procedure (for authenticity)
Free Tokens? Are You Serious?
Practically there is a free token distribution for a new project support or Initial Coin Offering. You just need to perform certain tasks like subscribing to their Telegram channel, sharing or liking posts on social media or simply following them on Twitter or follow a predefined link to a specific airdrop. Airdrops can be seen as promotional efforts where instead of traditional free caps and pens, tokens are being airdropped. But these tokens are limited and based on first come first serve basis. Once the projects become popular and token got listed on an exchange, you can easily trade your token and earn profits.
List of Latest Cryptocurrency Airdrops (Updated in May 2020)
Are you looking for the websites to get the information about the few of the cryptocurrency airdrops? Or do you want the information on the new cryptocurrency Airdrop? Twitter and Telegram are two of the most popular sources to get the information related to airdrops. You can also scroll the social media platforms like Reddit, Facebook groups associated with crypto and Bitcointalk forum. In this few of the cryptocurrency airdrops, we tried to list a few of the latest and best airdrops for you.
- Experty.io: Ethereum powered voice and video application which allows automatic payments from client to contractor. This new project of Ethereum lets you earn from their completely free airdrop.
- Bitbns: BNS is a multi-protocol utility token launched by one of India’s largest crypto trading platform Bitbns. It targets to enable masses to utilize BNS as the fiat currency. You can easily claim their airdrops by completing the KYC process as it is few of the cryptocurrency airdrops.
- Ludena Protocol: Ludena protocol aims to provide a gamified social platform to gamers all across the world. With a game-centric ecosystem, feel less virtual item exchange, and P2P gaming platform, Ludena is aiming to get popular initially by dropping free tokens by sending a link to your email account, being Email Required Airdrop.
- StellarPay: It is a digital token of Stellar Blockchain which interconnects banking system with payment system and people using it.StellarPay aims to distribute 2000XLPG tokens to 500 lucky winners through few of the cryptocurrency airdrops. You just need to complete a few tasks and coins will be dropped in your Telegram account. (Telegram Airdrop)
- Basic Attention: Token named Basic Attention (BAT)is the Hottest Airdrop which is getting trendy among the crypto community. It is created by the founder of Javascript for facilitating the digital advertising industry. It aims to pay publishers for their content, users for their attention, and advertisers for their ads. As per their Latest Airdrop Distribution rule, you can earn worth $5 of BAT, just by referring a link to your friend.
Every day, one or the other project is being launched in crypto space with a new airdrop. So, the list of latest airdrops keeps on changing depending upon their expiry date. In this article, we name a few of the cryptocurrency airdrops, which are trending in the present situation.
Summing Up
It can be concluded that airdrops are meant to create a buzz among the potential investors by Fintech startups in crypto space. Interested people just need to complete the assigned activities before the expiry date of a particular to claim their free tokens or airdrop. Some of the project directly drop token to your crypto wallet while some are few of the cryptocurrency airdrops which send the link on your account to claim the tokens. Though coin airdrops are considered safe but you should still emphasize on their conditions related to privacy and security. Also, for Best Airdrops, you need to find their legitimate website, whitepaper, and also the vision behind the particular project. few of the cryptocurrency airdrops news sometimes flashes the news related to scams and fraudsters, so you must educate yourself before claiming any airdrop.
Thus, don’t hesitate to invest your time in airdrops but don’t be in haste to claim the free tokens of any project. Till the time, crypto industry is here to stay, regular airdrops will be offered by startups to raise the funds and to popularize their commitments and ideas to the crypto community.
Articles You May Read
Bitcoin became popular among the investors across the world since 2017 when the prices of Bitcoin touched around $20,000. Since then many altcoins also came into the picture and started gaining traction among the crypto community. The market started facing aggressive competition among the players like Bitcoins, Ethereum, ZCash, and many more. The community of Bitcoin, therefore, thought of revamping the dominance of the Bitcoin in crypto markets. And then the Super Bitcoin was born with some added features in the forked chain. This article is like a Beginner guide to Super Bitcoin which helps you in a better understanding of the improved version of Bitcoin.
What Is Super Bitcoin? | Beginner Guide To Super Bitcoin
Super Bitcoin? What is Super Bitcoin? Super Bitcoin is the hard fork of Bitcoin which was launched in 2017. The fork took place at block height 498888 which leads to the improved features on the forked chain. The Bitcoin developer’s community had already made the arrangement for the compensating one Super BTC to every BTC held (ratio of 1:1).
Features of Super Bitcoin
Four striking features which makes Super Bitcoin different from Bitcoin are:
- Smart Contracts: Also known as crypto contract which means a contract based on a computer program and directly involves the transfer of digital currencies based on fulfilment of conditions mentioned. It also ensures obligations also.
- Lightning Network: It adds the second layer which facilitates off-chain transactions, thereby improves the scalability or transaction per second involving Bitcoins
- Zero-Knowledge Proofs: security is ensured by Zero-knowledge proofs which is a digital protocol allowing the data shared between two parties without even sharing any password or information associated with the transaction.
- Bigger Blocks: Bigger block size leads to better scalability and less transaction time which is being facilitated by Super Bitcoin.
Thus, Super Bitcoin aims to embrace all of the mentioned features in their blockchain to make the transfer quicker and smoother as per the ultimate guide to Super Bitcoin prepared by their team.
How Does Super Bitcoin Works? | Beginner Guide To Super Bitcoin
Want to know everything about Super Bitcoin? In 2017, it was decided that there will be a total supply of 21,210,000 SBTC out of which 210,000 being pre-mined. To support the early developers and support the investment in ecological construction, it was decided that pre-mined coins will be managed by the foundation who is working to develop Super Bitcoin. The team of Bitcoin was torn apart after the market was attracted by Ethereum due to its relatively new features of smart contracts and the facility to develop the Decentralised Apps via the pre-mentioned standards like ERC20. The company had plans and missions but it was a bit unclear about the implementation as a whitepaper was never established by the team or the members never upfront discussed their plan of achieving the objectives. You might think that reading the comprehensive guide to bitcoin might have been more fruitful instead of reading Super Bitcoin, but don’t worry, Super BTC still exists with inexpensive price value and also on know everything about Super Bitcoin. You can buy many from investments of a few dollars and can keep them for future trade.
How To Purchase Super Bitcoin?
Once you had made up your mind to purchase a few of the BTC, let this article help you in buying the coins.
- Till now, you must be well aware of how to make your account on crypto exchange. If not, then let me brief you, just open up the website of Binance or Coinbase (they both are highly reputed crypto exchanges which lists almost all major cryptocurrency available in the market).
- You just need to few details to create your account like you do to make your account on Facebook or any social media website.
- Next step is the crucial one as you have to verify the authenticity (you may skip too but it is for your safety only)
- Just scroll to the section of Buying Coins and find the Super Bitcoin in the list.
- Yes!! There it is. Just click on Super Bitcoin. Enter the amount you want to spend or the number of coins you want to purchase.
- Don’t think too much. Just click on Buy Option.
- You may receive an authentication link on your email id to complete the transaction, so just check your mail once.
- To cross-check if the transactions have been completed, check the transaction history on the website from where you had purchased the coins.
- Finally, you own a few of the Super Bitcoins which is still on the wallet of exchange. So, just don’t leave them there and transfer them to your own crypto wallet.
- Now, take a deep breath, your transaction has been completed, the portfolio has been diversified and you actually own SuperBitcoin.
- You can also try the platforms of Changelly, Shapeshift or LocalBitcoins to buy Super Bitcoins. You can either buy by swapping your Bitcoins or any other crypto coins for Super Bitcoin. Also, you can try the peer to peer exchange to have your first purchase.
This beginner guide to Super Bitcoin can help you in having your first buy of Super Bitcoins, further, you have to keep the track and check for the trend on your own to gain profits associated with Super Bitcoin in future.
Conclusion
Crypto space is here to stay and expand in the future. The unique features of blockchain-based cryptocurrencies captivates the interest of investors as soon as they get aware of the fact that the currency is decentralized and associated with huge profits. Thus, it can be concluded that hard forks are the need for expansion of the industry. Also, as the industry flourish, few or other features need to be upgraded to increase the adoption of users. Many of the hard forks are successfully capturing the market like Ethereum, Bitcoin Cash, Bitcoin Satoshi Vision, Super Bitcoin, and many more. So, investing in the hard forks are of no harm if they are coming with the better and crisp clear objectives to enhance the experience of users.
Hopefully, this beginner guide to Super Bitcoins will act as a helping hand to diversify and expand your crypto portfolio.
Articles You May Read
Are you a newbie to the cryptocurrency markets? Are you confused about the role of animals in the market when you hear about bear, bull, or whale? If you are an enthusiastic investor and just don’t want to invest in the cryptocurrency by your friend’s advice, then you must be aware of these animals’ roles in crypto space. The better knowledge can help you in technical analysis and also aid in formulating the investment strategies. In this article some of the questions like- What is crypto bull? What is crypto bear? What is crypto whale? Will be responded along with their effects in the crypto markets. This article aims to brief the difference between crypto bull, crypto bear and crypto whale.
Difference Between Crypto Bull, Crypto Bear and Crypto Whale
What is Crypto Bull? | Effect of Crypto Bull In Crypto Market
What is crypto bull? To understand and remember about crypto bulls, you can start imagining the features of a real bull. If we think of a bull, he is fearless and powerful with his horns pointing upwards in the sky. In the cryptocurrency market, the situations in the market point towards the powerful and upward trend of the crypto market. Simply, the bull market in crypto space is characterized by investor confidence in the cryptocurrency as the price tends to go up.
Just try to go back in history, and recall the situation of the crypto market in December,2017. The prices of Bitcoin almost touched $20,000, the skyrocketing of price built up the confidence among investors and within 24 hours, the crypto market was flushed with a massive amount of fresh investment.
Effect of Crypto Bull on Crypto Market
Strong market conditions are represented by the bull market. But, what effect of crypto bull on the crypto market can be noticed? Or how is it useful for investors? Bull market basically attracts investments, which results in a further rise in the value of the price of Bitcoin or any other cryptocurrency. The attitude and the type of investors (new or advanced or institutional) invest according to their risk-taking capability and the funds they can afford to lose(if in case). Some of the investors tend to invest in the bull run by expecting to sell the cryptocurrencies when the trend is at top. While some of the investors, which already had Bitcoins with them tend to sell as it helps in gaining them profits (when the selling price is more than buying price). Bull market experience both selling and buying of cryptocurrencies. Thus, stereotyping the bull market with the purchasing attitude of investors might not be right. And also, it does not always mean that the bull market always leads to profit because the volatile nature of Bitcoin might reverse the trend overnight and you never know, you might end up losing. Thus, It is recommendable to study the market trends before doing any investment.
What Is Bear? | Effect of Crypto Bear on Crypto Market
What is crypto bear? To understand and remember about crypto bears, you can start imagining the features of a real bear(that too most lazy one!). If we think of a bear, he is lazy and sleepy with his horns. Just a second, do they have horns? Nope! No horns. In the cryptocurrency market, the situations in the market point towards the shrouded and downward trend of the crypto market. Simply, the bear market in crypto space is characterized by investors losing confidence in the cryptocurrency as the price tends to fall down.
Just try to go back in recent history, and recall the situation of the crypto market in March,2020. The prices of Bitcoin almost crashed from $8000 to $3000, the skydiving of prices shook up the confidence of investors and within 24 hours, billions of dollars swiped away from the crypto market.
Effect of Crypto Bear on Crypto Market
Weak market conditions are represented by the bear market. But, what effect crypto bear on the crypto market can be noticed? Or how is it useful for investors? Bear markets basically sway away from the investments, which results in a further drop in the value of the price of Bitcoin or any other cryptocurrency. The attitude and the type of investors (new or advanced or institutional) invest according to their risk-taking capability and the funds they can afford to lose(if in case). Some of the investors tend to invest even in the bear run by expecting to sell the cryptocurrencies when the trend reverses. While some of the investors (big), which already had Bitcoins with them tend to sell to avoid further loss (even when the selling price is less than buying price). Bear market experience both selling and buying of cryptocurrencies. Thus, stereotyping the bear market with the selling attitude of investors might not be right. And also, it does not always mean that the bear market always leads to loss because the volatile nature of Bitcoin might reverse the trend and you never know, you might end up gaining. Thus, It is recommendable to study the market trends before doing any investment.
What is Crypto Whale? | Effect of Crypto Whales on Crypto Market
Till now you might be clear with- What is crypto bull? And What is the crypto bear? They both are representative of market trends. But at the starting of this article, we stated that you will get to know about whales too.
Whales do not represent any market trend but they are associated with trend makers. Generally, in crypto markets, whale refers to individuals or groups who hold a large amount of cryptocurrencies. You can imagine the marine mammal, when she splashes in the water, a wave has been created. Similarly, when the whales in the crypto market sell or buy cryptocurrency, a wave is being created which can even reverse the trend. Whales could be anonymous traders, crypto exchanges, hedge funders, and people who are identified only by their public addresses.
Effect of Crypto Whales on Crypto market
Let us try to recall a situation from March 2020. Crypto market crashed within 24 hours. Crypto whale Alert (a website that tracks the activities of whales and also the effects they have on crypto markets) detected that two simultaneous transactions worth almost $22 million took place between the crypto wallets of one of the most reputed crypto exchanges, Binance. Later, it came into the picture that crypto whales were trying to push the prices of BTC up to $6000 to purchase the dip before the next bull market came into the picture.
Bitcoin is based on a decentralized model of blockchain technology but indirectly affected by the whales of crypto space. So, the individuals owning large amounts of coins can be problematic to the crypto markets. As the markets are unregulated, whales have the power to move the market in a particular direction. Thus, it is essential to look at the moves of big names in the markets, and the job is being efficiently done by Bitcoin whale alert. Whale alert helps in carefully analyzing the abnormal changes in prices and volatility caused by the activities of crypto whales.
Final Thoughts
Till now, you might be cleared with the basic difference between crypto bull, crypto bear and crypto whale. If you are thinking about the better opportunity for investment, then you can start with walking on a usual path. Buy the dips in a bull market and sell the rips in a bear market. It is like a general thumb rule followed by most of the investors of the crypto community.
Articles You May Read
Bitcoin or Cryptocurrency!! It was launched in 2009 but actually became popular in 2017 when it hit the value of $20,000. In 2020, Bitcoin is certainly becoming the part of headlines due to its dramatic rise in price in January (expected to be new -2017), high fluctuation amid COVID 19, and then the famous Bitcoin Halving event expected to take place in May 2020. One of the important processes called Bitcoin Mining is captivating the attention of people due to the expected event of Halving when rewards given to miners will be halved. The community of enthusiastic coders is looking for the best of hardware and software to try their hand on Mining. So, this article of crypto space is totally dedicated to our budding miners and miners looking to upgrade their bitcoin mining hardware systems to mine Bitcoins.
What Is Bitcoin Mining Hardware?
First thing first, What is Mining? Mining is a process to verify the transaction involving Bitcoin, by solving the complex mathematical algorithm and finally updating the block in the blockchain. The process is performed by expertise on their highly upgraded systems connected to the network involved in verifying the transactions. In a way, it is actually a process to dig the Bitcoins or introduce them to the mainstream. Initially, when Bitcoin was introduced, Mining was a simpler task but as the industry started growing and more people initiated solving the algorithms, ultra-powerful computers started to design for the sole purpose of mining. Presently, the Bitcoin mining process can be performed by dedicated miners having Application-Specific Integrated Circuits (ASICs) in their systems or upgraded Bitcoin mining hardware.
Factors To Evaluate Bitcoin Miner Hardware
If you are thinking of mining Bitcoins, you need to evaluate Bitcoin miner hardware before purchasing it and installing it in your system. Majorly, three factors need to be considered:
- Power Consumption: Lower the consumption power means fewer bills as Mining consumes high electricity.
- Hash Rate: Simply, the number of guesses or number of power ASIC allows a miner to solve per second. Higher hash rate, better the chances to verify the transaction.
- Energy Efficiency: It can be calculated as the power required to generate a single use of the hash rate. So, you have to maintain a balance of power consumption and hash rate to optimize efficiency.
Thus, you must consider the mentioned factors to calculate the profitability in the mining process and not relentlessly drain out your money in mining. Let us explore the options of best bitcoin miner 2020 for you.
Best Bitcoin Mining Hardware In 2020
A wide variety of Bitcoin mining hardware will pop when you enter “Bitcoin mining hardware ebay” on any search engine. But not every hardware is as efficient as the best ones available in the market. Some of the bitcoin mining hardware gaining the popularity in Bitcoin space are:
Bitmain Antminer S9i
Bitmain has become one of the popular brands for Bitcoin mining hardware for its time to time upgrade and that too at affordable prices. Presently, the latest product Antminer S9i of Bitmain is accepted widely by the community of miners. The product is not meant to burn your pockets and meant to provide lower energy consumption with a higher hash rate. With 14TH per second hash rate and approximately 1320 W consumption of power, you can buy the rig in $500 (which will be recovered soon!)
Pangolin Whatsminer M3X
Whatsminer M3X launched by Pangolin is one of the choice of semi-professional miners and traders seeking for balance between the power consumption and price tag of the bitcoin mining hardware. With Whatsminer, the hash rate of 12-13TH can be expected which can make you enough profits if you are engaged in the mining process diligently. One of the disadvantages you must consider is that it produces the humming sound of bees while you are involved in the mining process (I mean to say it is noisy!)
Halong Mining DragonMint T1
DragonMint T1 launched by Halong Mining is considered as the beast in the sector of Bitcoin mining hardware. But the exceptionally high price lowers down its popularity among novice miners. 
But, advanced traders who are continuously involved in digging the coins, crave for DragonMint T1 with its 16TH per second hash rate which rarely fails you during mining.
BitFury Tardis
Bitcoin mining is not limited to single miners but many of the enterprises are also meant for the purpose of mining only. So, to fulfill the needs of enterprises, BitFury launched the Bitcoin mining hardware called Tardis. If a company has sufficient energy resources, then it just needs to complement one of the best software with BitFury Tardis to achieve the goals related to mining the coins.
Avalon6
Canaan Creative is also one of the significant players in the industry of manufacturing Bitcoin mining hardware. With his newly launched highly affordable product, Avalon6, it created a hustle in the crypto mining sector. If you are enthusiastic to try the mining process but not to pursue it for a longer time, then you can spend $250 to purchase Avalon6 which is supposed to draw only 1050 W of power while giving a hash rate of 3.5TH per second.
It can be concluded that the choice of bitcoin mining hardware depends on the requirements, financial capability, and aspirations of the user. Thus, you must evaluate your needs along with the mentioned factors before purchasing any hardware for mining.
Summing Up
The Bitcoin mining process is a lucrative process and the young coders and problem solvers are showing their interest in digging up the coins rather than just buying from the regular crypto exchanges. The sector not only fulfills the aspirations to receive Bitcoin as rewards but a huge community is considering it as the industry for job opportunities. One or the other day, software and hardware are being updated by the giants to fulfill the needs of Bitcoin miners by providing them maximum hash rate with minimum consumption of power. Some of the best ones are mentioned above in the article to help you in making the smart purchase of your bitcoin mining hardware.
Articles You May Read
Bitcoin or cryptocurrency had left none of the corners of the world untouched from its impact. Blockchain-based digital currency or Bitcoin has the potential to influence the citizens, whether living in developed or developing nations. The transaction involving Bitcoins does not involve a central authority or intermediary with minimal transaction fees while transacting even across the nations. Also, cryptographic techniques (sort of encryption) deployed in the Bitcoin payment system confirm the security of transactions reaching directly from the sender’s wallet to the receiver’s wallet. Recently, after analyzing the potential benefits and impact of Bitcoin on economy (expected!) of this totally new concept of digital currency (invented in 2009 but popularised in 2017), Indian Supreme Court passed the landmark decision related to the crypto industry.
On March 4, 2020, the Supreme Court of India lifted up the blanket ban put by the Reserve Bank of India in 2018 on the crypto industry or crypto trading (the Act of Parliament is still awaited). Opening up the crypto industry and impact of Bitcoin on the economy of India would be interesting to watch in the coming years. Internet and Mobile Association of India (who fought for lifting up the ban against the Reserve Bank of India) looking forward to the constructive framework for the cryptocurrency market place in India and the effect of Bitcoin on economy. In this article, let us give our attempt to understand the needs and potential benefits of Bitcoin in India.
Challenges Of Indian Economy
India is currently standing with a growth rate of almost 6% and the expected GDP of 3 trillion until the end of 2020. With the aim to achieve the 5 trillion economies by 2020, the Indian government must take some innovative steps to gear up the economy. One of the decisions of the Supreme Court of India which declared the blanket ban on crypto trading as unconstitutional is a smart move in the direction to boost up the economy. The crypto trading or Bitcoin industry has the capacity to provide the solutions for the following challenges faced by India:
- Regular cases of stealing the money, the currency lost before exchanging the hands, cumbersome exercise of reaching the branches of the bank and depositing the extra cash to bank accounts, and many more cases associated with carrying “physical cash” need to be revamped.
- Price Inflation due to the international turmoil, political and economical conditions of the country is one of the major issues for the Indian community which is already having limited purchasing power.
- Even after the regular efforts to open the bank accounts of every citizen living in the country, the breakthrough success of Jan Dhan Yojna, a major population of Indian rural areas is still unbanked. Lack of banking infrastructure, short of documents of identification and permanent address and other information, keep the major population of India deprived of banking services.
- Remittances coming to India from all across the world made up the larger part of the Indian economy. But the transaction fees or conversion rates involved during the transaction proves to be the notable headache for both receivers and senders.
- The inflow of funds or Foreign Institutional Investments in any country is the result of the innovative projects or startups being set up in the country. India needs to revamp the industrial sector to attract foreign investors.
- The demographic dividend is one of the strengths of India which can accelerate the growth of the economy. But, the limited employment opportunities may prove to be the bone of contention in the growth of the economy and can also lead to a brain drain of professionals.
Thus, Bitcoin can prove to be complementary to fiat currency and the effect of Bitcoin on the economy can aid in overcoming the challenges faced by the Indian subcontinent.
Expected Impact Of Bitcoin On Economy Of India
Bitcoin with its strikethrough advantages is expected to impact the economy of India in the following ways if crypto trading is allowed or legalized in a proper regulatory environment.
- Bitcoin is a contactless mode of payment which neither mandates you to fill up the briefcases nor to stand in that queue of banks to deposit your cash or cheque. With the help of mobile or laptop with the accessibility of the internet, you can transfer the money in a few minutes across any state and can store the coins in reliable crypto wallets.
- The decentralized model on distributed ledger networks is followed by Bitcoin. When the coins are being transferred between two persons, no central authority is needed to back or manage it. Thereby, prices of Bitcoin are not supposed to be affected by the external political, economical, and social conditions. Hence, non-inflationary in nature.
- Convenient to the unbanked population if the effort is put on to strengthen the digital networks and providing internet access and providing digital education. The benefits of subsidies can be enjoyed by the population not having the bank account.
- Borderless payment system of Bitcoin is already attracting the community living outside their country. If the Bitcoin transfer would be legalized, one can send the money easily to their loved ones without paying the huge transaction fees.
- Bitcoin is based on blockchain technology which is a relatively new concept to boost the technological era in any country. If India would allow the startups to explore the opportunities in the cryptocurrency, then it will not only boost up the employment rate but also the inflow of foreign investments. Some of the companies like Binance, ZPX, and many more crypto giants have already taken interest in the Indian economy after the decision of the Indian Supreme Court came out.
Thus, Bitcoin has to cross several hurdles to become a part of the Indian economy. Legalizing the Bitcoin at this stage revamping the sector of digitalization in India, might be harder to achieve. But the bill which is expected to be tabled in the Parliament must be made considering the benefits and impacts of Bitcoin on the economy of India. The Indian subcontinent must focus on creating the regulatory environment for crypto space which can facilitate the new businesses, crypto exchanges, startups associated with products and services related to Bitcoin, and can also open the floodgates for enthusiastic coders.
Articles You May Read
If it is a currency, you need a wallet to store it! Either it is fiat or digital currency, the wallet is supposed to be there with you to keep your coins safe. Unlike the conventional currency, Bitcoin is saved either in an online or offline crypto wallet. Some of you might be wondering, if the Bitcoin is recorded on the blockchain network or distributed ledger, when what actually do you need to store or protect your Bitcoins. In crypto space, you need to store the digital codes known as private keys in your Bitcoin wallet and thereby to utilize your Bitcoins. Private keys are not just the passwords but it determines the ownership of coins. In this article, let us unlock the meaning of the private key of your Bitcoin wallet. Also, we will explain the procedure to recover the bitcoin wallet with private key (in case you lost the keys!)
Private Key Of Your Bitcoin Wallet | Quick Review
In crypto space, you own and manage your currency, unlike the conventional fiat currency where central institutions manage your money. Private keys are the series of digital codes that let you own and manage your Bitcoins by giving you access to your crypto wallet while proceeding the transaction. Technically, the private key is a sophisticated cryptographic form (to prevent a key from hacking) which looks like a series of digital codes or symbols (letters and numbers). These private keys are stored in the Bitcoin wallet. When you got your wallet (hot/cold) for the first time, you must have received public addresses and private keys to manage funds in the wallet.
How To Use Bitcoin Private Key?
You seem to be a little confused! Technically, you might have an idea about a private key but practically you could not find out- How to use Bitcoin private key? Let us try to explain the procedure in simpler words.
Make it clear in your mind that a crypto wallet stores private keys. When a transaction is initiated from the other side or sender starts the transaction process, your crypto wallet (used for the purpose of the transaction) creates a special digital signature by processing mathematical transactions with the use of correct private keys( cryptographically secured) The digital signature created cannot be reused and is unique for each transaction. So, now you have a digital signature and public key (like email address) to authenticate a message or transaction(produced using a private key of the sender matched with the published public address of receiver), thereby completing the procedure. Thus, any crypto transaction is digitally signed with the help of matched private keys.
As these private keys are essential to define your ownership of Bitcoins, you need to protect them from malicious attacks if stored in online wallets and safeguard from getting lost if stored in offline or hardware wallets. But have you ever thought, if your keys are lost, then how to find your bitcoin private key? Let us move on to the next section to know the retrieval process.
How To Recover Bitcoin Wallet With Private Key? | Retrieving Private Keys
Oops!! What will happen now? Shit! I have lost my private keys and may have lost the huge investments I had made in cryptocurrency! How to recover Bitcoin wallet with private keys These types of thoughts might already hit you or may bang your head in the future if you are not careful while storing your private keys! Precaution is always better than cure but sometimes accidents happen!
A few years back, it was impossible to find your lost keys but you should be thankful for the innovative technologies which can help you to recover private keys. So let us suppose you get your brand new wallet with private keys and public addresses. The first thing you must have done is to create the backup of private keys with the help of a recovery phrase or seed phrase made by the combinations of 20-25 words( Don’t forget to write that phrase somewhere, where you can find them easily but not others). Now, let us consider you are unable to access your private keys or lost them. You need not worry and just have to enter your recovery phrase in the replaced crypto wallet or a newer version of the wallet to retrieve your funds and get the old private keys. Your balance will restore and coins will appear again in your new version of wallet. Thus, your funds are recovered but all of the previous devices connected to your previous wallets are still existent which might cause you trouble. Keep calm, we are here to solve that problem also as we are going to explain to you about importing the private keys.
How To Import Your Private Keys?
If you had lost your private keys, with the help recovery phrase you must have transferred the funds to a newer version of your wallet (with your private keys). But what happened to the last version in case of lost phone, hardware wallet or even paper wallet? Your lost wallet may cause you trouble if discovered by a third party. So, to prevent any worst-case scenario, you can sweep or import your private key to a whole new public address or new crypto wallet which provides you with newly generated private and public keys. Some of the non-custodial wallets like Ledger, Trezor, Exodus, and many more can facilitate you to sweep your older wallet and transfer it into a new one. Thus, in case of losing your keys, you not only need a new version of wallet but a brand new crypto wallet where blockchain import private key into a new wallet and keeping your funds safe.
Summing Up
The private key of your Bitcoin wallet can be retrieved by your recovery phrase but we will recommend you to be extra cautious with the private keys to access your funds. You must spend a little more time and research a few more options while selecting the crypto wallet to store your private keys. It is being advised to choose from hardware/offline/cold wallet like Trezor, Ledger Nano rather than software/online/hot wallet (vulnerable to online attacks). So, we wish you happy and safe trading and suggest you protect your private keys as much as you can.!
