********** CRYPTO **********
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The US Congress Is Starting to Question This Whole Crypto Thing
Sun, 27 Nov 2022 12:00:00 +0000
Think Washington lawmakers have what it takes to tackle the volatile world of cryptocurrencies? Neither do they.
Match ID: 0 Score: 30.00 source: www.wired.com age: 0 days
qualifiers: 20.00 cryptocurrenc(y|ies), 10.00 bitcoin(|s)
Crypto Contagion Is Spreading, Fast
Fri, 25 Nov 2022 18:17:11 +0000
The collapse of FTX has set off a chain reaction that threatens to topple one of crypto’s oldest and most respected institutions.
Match ID: 1 Score: 30.00 source: www.wired.com age: 2 days
qualifiers: 20.00 cryptocurrenc(y|ies), 10.00 bitcoin(|s)
I Lost $17,000 in Crypto. Here’s How to Avoid My Mistake
Thu, 24 Nov 2022 13:00:00 +0000
I’m not the first person to suffer this fate, but hopefully I can be the last.
Match ID: 2 Score: 25.71 source: www.wired.com age: 3 days
qualifiers: 17.14 cryptocurrenc(y|ies), 8.57 bitcoin(|s)
The Wall Street Journal: Attorney general of Bahamas deflects blame for FTX’s collapse
Mon, 28 Nov 2022 01:41:00 GMT
The Bahamian attorney general defended the island nation’s actions during the collapse of FTX Digital Markets Ltd. and urged patience while authorities investigate the embattled cryptocurrency exchange.
Match ID: 3 Score: 20.00 source: www.marketwatch.com age: 0 days
qualifiers: 20.00 cryptocurrenc(y|ies)
Will the FTX Collapse Lead to Better Cryptocurrency Regulation?
Wed, 23 Nov 2022 21:20:00 +0000
The company’s spectacular downfall could cause future investors to be more cautious, and government agencies that oversee digital assets to be clearer and more stringent.
Match ID: 4 Score: 14.29 source: www.newyorker.com age: 4 days
qualifiers: 14.29 cryptocurrenc(y|ies)
Founder ran FTX as “personal fiefdom”; many assets stolen or missing, court hears
Wed, 23 Nov 2022 17:36:09 +0000
FTX "was run as a personal fiefdom of Sam Bankman-Fried," company lawyer says.
Match ID: 5 Score: 14.29 source: arstechnica.com age: 4 days
qualifiers: 14.29 cryptocurrenc(y|ies)
Sam Bankman-Fried and the Long Road to Taking Crypto Mainstream
Tue, 22 Nov 2022 19:20:01 +0000
The disgraced founder of FTX played on the vanities of the establishment, reassuring V.C. firms and the media that smart-guy insiders like him could save the world.
Match ID: 6 Score: 11.43 source: www.newyorker.com age: 5 days
qualifiers: 11.43 cryptocurrenc(y|ies)
The Hunt for the Dark Web’s Biggest Kingpin, Part 5: Takedown
Tue, 22 Nov 2022 11:00:00 +0000
After months of meticulous planning, investigators finally move in to catch AlphaBay’s mastermind red-handed. Then the case takes a tragic turn.
Match ID: 7 Score: 11.43 source: www.wired.com age: 5 days
qualifiers: 11.43 cryptocurrenc(y|ies)
Binance launches proof of reserves website
Fri, 25 Nov 2022 12:55:59 GMT
Binance said Friday it's launching a new proof of reserves website to reflect that the crypto currency exchange is holding client funds in full as a custodian. "When a user deposits one Bitcoin, Binance's reserves increase by at least one Bitcoin to ensure client funds are fully backed," Binance said. People will be able to check the site to see Binance's proof of reserves, as well as Binance's reserve ratio next to customer liabilities. The site will also offer two new ways for people to verify their transactions against Binance's Merkle tree, the company said. The moves mark part of Binance's user transparency efforts.
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Imagine a world in which you can do transactions and many other things without having to give your personal information. A world in which you don’t need to rely on banks or governments anymore. Sounds amazing, right? That’s exactly what blockchain technology allows us to do.
It’s like your computer’s hard drive. blockchain is a technology that lets you store data in digital blocks, which are connected together like links in a chain.
Blockchain technology was originally invented in 1991 by two mathematicians, Stuart Haber and W. Scot Stornetta. They first proposed the system to ensure that timestamps could not be tampered with.
A few years later, in 1998, software developer Nick Szabo proposed using a similar kind of technology to secure a digital payments system he called “Bit Gold.” However, this innovation was not adopted until Satoshi Nakamoto claimed to have invented the first Blockchain and Bitcoin.
A blockchain is a distributed database shared between the nodes of a computer network. It saves information in digital format. Many people first heard of blockchain technology when they started to look up information about bitcoin.
Blockchain is used in cryptocurrency systems to ensure secure, decentralized records of transactions.
Blockchain allowed people to guarantee the fidelity and security of a record of data without the need for a third party to ensure accuracy.
To understand how a blockchain works, Consider these basic steps:
Let’s get to know more about the blockchain.
Blockchain records digital information and distributes it across the network without changing it. The information is distributed among many users and stored in an immutable, permanent ledger that can't be changed or destroyed. That's why blockchain is also called "Distributed Ledger Technology" or DLT.
Here’s how it works:
And that’s the beauty of it! The process may seem complicated, but it’s done in minutes with modern technology. And because technology is advancing rapidly, I expect things to move even more quickly than ever.
Even though blockchain is integral to cryptocurrency, it has other applications. For example, blockchain can be used for storing reliable data about transactions. Many people confuse blockchain with cryptocurrencies like bitcoin and ethereum.
Blockchain already being adopted by some big-name companies, such as Walmart, AIG, Siemens, Pfizer, and Unilever. For example, IBM's Food Trust uses blockchain to track food's journey before reaching its final destination.
Although some of you may consider this practice excessive, food suppliers and manufacturers adhere to the policy of tracing their products because bacteria such as E. coli and Salmonella have been found in packaged foods. In addition, there have been isolated cases where dangerous allergens such as peanuts have accidentally been introduced into certain products.
Tracing and identifying the sources of an outbreak is a challenging task that can take months or years. Thanks to the Blockchain, however, companies now know exactly where their food has been—so they can trace its location and prevent future outbreaks.
Blockchain technology allows systems to react much faster in the event of a hazard. It also has many other uses in the modern world.
Blockchain technology is safe, even if it’s public. People can access the technology using an internet connection.
Have you ever been in a situation where you had all your data stored at one place and that one secure place got compromised? Wouldn't it be great if there was a way to prevent your data from leaking out even when the security of your storage systems is compromised?
Blockchain technology provides a way of avoiding this situation by using multiple computers at different locations to store information about transactions. If one computer experiences problems with a transaction, it will not affect the other nodes.
Instead, other nodes will use the correct information to cross-reference your incorrect node. This is called “Decentralization,” meaning all the information is stored in multiple places.
Blockchain guarantees your data's authenticity—not just its accuracy, but also its irreversibility. It can also be used to store data that are difficult to register, like legal contracts, state identifications, or a company's product inventory.
Blockchain has many advantages and disadvantages.
I’ll answer the most frequently asked questions about blockchain in this section.
Blockchain is not a cryptocurrency but a technology that makes cryptocurrencies possible. It's a digital ledger that records every transaction seamlessly.
Yes, blockchain can be theoretically hacked, but it is a complicated task to be achieved. A network of users constantly reviews it, which makes hacking the blockchain difficult.
Coinbase Global is currently the biggest blockchain company in the world. The company runs a commendable infrastructure, services, and technology for the digital currency economy.
Blockchain is a decentralized technology. It’s a chain of distributed ledgers connected with nodes. Each node can be any electronic device. Thus, one owns blockhain.
Bitcoin is a cryptocurrency, which is powered by Blockchain technology while Blockchain is a distributed ledger of cryptocurrency
Generally a database is a collection of data which can be stored and organized using a database management system. The people who have access to the database can view or edit the information stored there. The client-server network architecture is used to implement databases. whereas a blockchain is a growing list of records, called blocks, stored in a distributed system. Each block contains a cryptographic hash of the previous block, timestamp and transaction information. Modification of data is not allowed due to the design of the blockchain. The technology allows decentralized control and eliminates risks of data modification by other parties.
Blockchain has a wide spectrum of applications and, over the next 5-10 years, we will likely see it being integrated into all sorts of industries. From finance to healthcare, blockchain could revolutionize the way we store and share data. Although there is some hesitation to adopt blockchain systems right now, that won't be the case in 2022-2023 (and even less so in 2026). Once people become more comfortable with the technology and understand how it can work for them, owners, CEOs and entrepreneurs alike will be quick to leverage blockchain technology for their own gain. Hope you like this article if you have any question let me know in the comments section
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Non-fungible tokens (NFTs) are the most popular digital assets today, capturing the attention of cryptocurrency investors, whales and people from around the world. People find it amazing that some users spend thousands or millions of dollars on a single NFT-based image of a monkey or other token, but you can simply take a screenshot for free. So here we share some freuently asked question about NFTs.
NFT stands for non-fungible token, which is a cryptographic token on a blockchain with unique identification codes that distinguish it from other tokens. NFTs are unique and not interchangeable, which means no two NFTs are the same. NFTs can be a unique artwork, GIF, Images, videos, Audio album. in-game items, collectibles etc.
A blockchain is a distributed digital ledger that allows for the secure storage of data. By recording any kind of information—such as bank account transactions, the ownership of Non-Fungible Tokens (NFTs), or Decentralized Finance (DeFi) smart contracts—in one place, and distributing it to many different computers, blockchains ensure that data can’t be manipulated without everyone in the system being aware.
The value of an NFT comes from its ability to be traded freely and securely on the blockchain, which is not possible with other current digital ownership solutionsThe NFT points to its location on the blockchain, but doesn’t necessarily contain the digital property. For example, if you replace one bitcoin with another, you will still have the same thing. If you buy a non-fungible item, such as a movie ticket, it is impossible to replace it with any other movie ticket because each ticket is unique to a specific time and place.
One of the unique characteristics of non-fungible tokens (NFTs) is that they can be tokenised to create a digital certificate of ownership that can be bought, sold and traded on the blockchain.
As with crypto-currency, records of who owns what are stored on a ledger that is maintained by thousands of computers around the world. These records can’t be forged because the whole system operates on an open-source network.
NFTs also contain smart contracts—small computer programs that run on the blockchain—that give the artist, for example, a cut of any future sale of the token.
Non-fungible tokens (NFTs) aren't cryptocurrencies, but they do use blockchain technology. Many NFTs are based on Ethereum, where the blockchain serves as a ledger for all the transactions related to said NFT and the properties it represents.5) How to make an NFT?
Anyone can create an NFT. All you need is a digital wallet, some ethereum tokens and a connection to an NFT marketplace where you’ll be able to upload and sell your creations
When you purchase a stock in NFT, that purchase is recorded on the blockchain—the bitcoin ledger of transactions—and that entry acts as your proof of ownership.
The value of an NFT varies a lot based on the digital asset up for grabs. People use NFTs to trade and sell digital art, so when creating an NFT, you should consider the popularity of your digital artwork along with historical statistics.
In the year 2021, a digital artist called Pak created an artwork called The Merge. It was sold on the Nifty Gateway NFT market for $91.8 million.
Non-fungible tokens can be used in investment opportunities. One can purchase an NFT and resell it at a profit. Certain NFT marketplaces let sellers of NFTs keep a percentage of the profits from sales of the assets they create.
Many people want to buy NFTs because it lets them support the arts and own something cool from their favorite musicians, brands, and celebrities. NFTs also give artists an opportunity to program in continual royalties if someone buys their work. Galleries see this as a way to reach new buyers interested in art.
There are many places to buy digital assets, like opensea and their policies vary. On top shot, for instance, you sign up for a waitlist that can be thousands of people long. When a digital asset goes on sale, you are occasionally chosen to purchase it.
To mint an NFT token, you must pay some amount of gas fee to process the transaction on the Etherum blockchain, but you can mint your NFT on a different blockchain called Polygon to avoid paying gas fees. This option is available on OpenSea and this simply denotes that your NFT will only be able to trade using Polygon's blockchain and not Etherum's blockchain. Mintable allows you to mint NFTs for free without paying any gas fees.
The answer is no. Non-Fungible Tokens are minted on the blockchain using cryptocurrencies such as Etherum, Solana, Polygon, and so on. Once a Non-Fungible Token is minted, the transaction is recorded on the blockchain and the contract or license is awarded to whoever has that Non-Fungible Token in their wallet.
You can sell your work and creations by attaching a license to it on the blockchain, where its ownership can be transferred. This lets you get exposure without losing full ownership of your work. Some of the most successful projects include Cryptopunks, Bored Ape Yatch Club NFTs, SandBox, World of Women and so on. These NFT projects have gained popularity globally and are owned by celebrities and other successful entrepreneurs. Owning one of these NFTs gives you an automatic ticket to exclusive business meetings and life-changing connections.
That’s a wrap. Hope you guys found this article enlightening. I just answer some question with my limited knowledge about NFTs. If you have any questions or suggestions, feel free to drop them in the comment section below. Also I have a question for you, Is bitcoin an NFTs? let me know in The comment section below
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