Blog By Sammy

  Decentralized system in cryptocurrency The whole point of  cryptocurrencies  is that they’re decentralized. Peer-to-peer cash; trustless exchange; bypassing intermediaries. So why are numerous cryptocurrencies structured more like central banks? From adjusting wallet balances to controlling nodes, many crypto projects behave just like the financial institutions they were meant to replace. Throw in the cult of a strong leader, and there’s little to differentiate some altcoins from the Paypals and Visas of the world. The De-Decentralization of Cryptocurrencies The word “decentralized” doesn’t appear in Satoshi’s original white paper (nor does “blockchain” for that matter) but it’s since become synonymous with Bitcoin and its successors. For a digital  currency  to be truly decentralized, it needs to achieve two things: to be censorship-resistant and to be immune from meddling by project leaders. If the price of a coin is dependant upon its founder staying alive,...

 How does  crypto  work? Cryptocurrency: A Brief Introduction Cryptocurrency is a digital currency that uses encryption techniques to secure transactions and control the creation of new units. Advantages of Cryptocurrency Cryptocurrency  is decentralized, which means it is not controlled by any government or financial institution. Transactions are faster and cheaper compared to traditional banking methods. Challenges of Cryptocurrency The biggest concern with  cryptocurrency  is its volatility. It can be risky for investors who are looking to make a profit. Security is also an issue, as digital wallets used to store cryptocurrency can be vulnerable to hacking. The Future of Cryptocurrency Despite its challenges, the future of cryptocurrency looks promising. Many businesses are starting to accept it as a form of payment, and governments are exploring ways to regulate it. Conclusion Cryptocurrency is a fascinating development in the world of finance. While it...

How is cryptocurrency valued ? Cryptocurrency to rise and fall There are many factors that can affect the price and value of cryptocurrencies, including supply and demand, production cost and more. The more  cryptocurrency  is being used, the greater the demand and the more its value will increase. Along with supply and demand, production cost also determines the price and value of cryptocurrencies. For example, if you own a  Bitcoin (BTC) Price Prediction & Forecast(opens in a new tab)  that only has 100 million coins in circulation but there is a huge demand for it, it will have a high price per coin compared to another cryptocurrency with 10 billion coins in circulation but very little demand. Cryptocurrency prices can be volatile. The value of a cryptocurrency can go up an down, depending on factors such as the number of people using it, the security of the network and the volume of transactions. There are two main factors that affect how much a  cryptoc...

crypto investment - It is possible to get filthy rich by investing in cryptocurrency -- but it is also very possible that you lose all of your money. Investing in crypto assets is risky, but can be a good investment if you do it properly and as part of a diversified portfolio. Cryptocurrency  is a good investment if you want to gain direct exposure to the demand for digital currency. A safer but potentially less lucrative alternative is buying the stocks of companies with exposure to cryptocurrency. Image source: The Motley Fool Let's examine the pros and cons of investing in cryptocurrency. Is  cryptocurrency  safe? Multiple factors show that cryptocurrency is not always a safe investment. All the while, other signs are emerging that cryptocurrency is here to stay. Cryptocurrency risks Cryptocurrency exchanges , more so than stock exchanges, are vulnerable to being hacked and becoming targets of other criminal activity. Security breaches have led to sizable losses for i...

Parity Wallet Hack - On July 19 the ethereum community was warned that the Parity client version 1.5 and above contained a critical vulnerability in the multi-signature wallet feature. Further, a group of multi-signature “black hat exploiters” has managed to drain 150,000 ether from multi-sig wallets and ICO projects. A Vulnerability Found in the Multi-Signature Contract “Wallet.sol” Used in Parity Clients According  to the company Parity and the firm’s founder Gavin Wood, the startup’s product the Parity wallet version 1.5 and above contained a bug that enabled the theft of  $30 million  worth of ETH. The vulnerability discovered in these specific Parity wallets used a multi-signature contract called “wallet.sol” and the contract was utilized by a few initial coin offerings (ICO) as well. Circulating reports believe that three particular ICO projects were compromised including Swarm City, æternity, and Edgeless Casino. The Parity startup had issued a security warning on...

  Ethereum Flash Crash -  The  Commodity Futures Trading Commission  is investigating Coinbase for an  Ethereum “flash crash” that occurred in June. During the crash, the  ETH  exchange rate plummeted down in an instant, but quickly regained its price. According to  Bloomberg , Ethereum dropped from trading at $317.81, down to 10 cents in a split second. However, its recovery was also swift. It regained a $300 price point in mere seconds.  The Bloomberg article said, “The  Commodity Futures Trading Commission  has requested information from Coinbase Inc. about a June 21 incident on its GDAX platform in which the Ether digital token suffered a precipitous drop, falling to 10 cents from $317.81 in milliseconds before quickly recovering, said two people familiar with the matter.” Could Margin Trading have caused the Plunge? The CFTC is concerned that leveraged or margin trading may have precipitated the flash crash. Margin tradin...

Ethereum Network - Scaling problems that have been sporadically affecting the Ethereum network have resurfaced. While bulls and bears were battling it out in the markets, the Ethereum blockchain was fighting to restore some semblance of normal service. The congestion forced a number of exchanges to halt withdrawals, with one going so far as to advise customers to use a different cryptocurrency. Also read:   Despite Regulations, One South Korean Crypto Exchange Rises to the Global Top Ethereum Enters the Slow Lane Over the last couple of months, the Ethereum network has reported record activity, peaking at over one million transactions a day. This growth has come at a price in the form of slow or backlogged transactions, causing fees to reach record highs and ICO participants to miss out on token sales after failing to push their ether through in time. On Wednesday January 17, two exchanges reported ethereum withdrawal issues that were affecting users. First up was Bitstamp, which...

  Bitcoin  vs. Ethereum Holding the number one and two spots for overall market cap in cryptocurrency, Bitcoin and Ethereum are often compared against each other. There’s an ongoing debate over which cryptocurrency is better, but focusing on the individual tokens is only part of what makes Bitcoin and Ethereum different–and incredible. The Bitcoin and Ethereum blockchains were created for different purposes, so it might be more useful to understand what makes each unique, what makes them different, and what that means for you. What is Bitcoin? A quick note on capitalization: Is it better to buy Bitcoin or Ethereum? with an uppercase B refers to the blockchain network and protocol, while bitcoin with a lowercase b refers to the cryptocurrency that is used on the  Bitcoin  network. BTC also refers to the bitcoin token. As a blockchain protocol, Bitcoin acts as a settlement system that validates and records transactions between users on the network. The Bitcoin protocol...