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Blockchain for Dumbies VII

What is up everyone! I hope you enjoyed my prior posts a little especially my last one. However this post is going to be a little different, as I mentioned last time I want to talk about a project/concept that I find cool as hell. As usual if you have any questions feel free to reach out to me here or on twitter @ConnorCrypto1. Todays project that will be discussed is Globle, which is developing an extremely cool and helpful platform that will revolutionize the way society functions. On top of this it is also a project that is close to home as several of the founders started out of Toronto which where I am based.

What is Globle and why will they revolutionize how society functions? To begin Globle is a universally-owned platform that is meant to democratize innovation and company creation. Meaning they want to provide people who have ideas/innovations who need more like-minded people with a platform where they can enhance their current idea and increase their chances of having a successful project. They also want to address two major problems facing the world today; the limitations inherent in the current innovation model which hinder the widespread realization and adoption of valuable ideas, and the threat of impending technological unemployment caused by increased automation and adoption of artificial intelligence. The first part of Globle will empower its members to participate in every stage, including concept submission, concept validation, team election, project funding, and project development. Since these posts are short and sweet I will not be going into depth about these stages, but if you have questions feel free to ask me or Globle for clarification! Now Globle is able to do this by utilizing a decentralized platform built on the blockchain and uses a system of smart contract to provide incentive mechanisms designed to fairly reward member participation at every stage of project creation and project governance. This concept is extremely unique and I personally believe that by providing individuals a platform to grow their ideas and give them a chance to have recognition very appealing. On top of this if it increases the chances of people in society generating new ideas and contributing to society I am personally all for it.

The second part of Globle is how it will revolutionize society and will potentially alter the negative impact that may occur as technology takes over basic human jobs. Basically when utilizing the Globle platform and your project gets to the last stage, becoming profitable, the majority of the profits are shared amongst project contributors, while the rest is distributed equally to all Globle members in the form of a universal basic income (UBI). Having access to these funds is simple and straightforward, essentially all you must do is sign up for the Globle platform and you will receive the tokens. Also signing up to become a Globle member is completely free of charge. The only requirement for membership is to successfully undergo an electronic ID verification (eIDV) including a Know Your Customer (KYC) process to ensure the identity and legitimacy of every member. Once verified, a member is provided with a unique Globle ID, which grants members equal ownership of Globle, full access to the platform’s features, as well as the universal basic income (UBI).

Globle is extremely unique and I believe is the key to pushing innovation and fixing the major issues within the current structure. It will allow for more recognition, more completed projects, and more funding for young innovators/entrepreneurs. On top of this it will also battle the technology takeover with its Universal Basic Income. Next week I will discuss three different projects and concepts and then I will resume with the basics of cryptocurrency :).

Renforcée out!!

[renforceecrypto-blog]

Amazing.

SOURCES: GOLDMAN AND ETHEREUM: Goldman Is Actively Exploring The Creation Of An Ethereum NDF To Offer Clients

As Circle was announcing the creation of a stable coin yesterday the buzz that surrounded it focused on the influence Goldman Sachs has on every move that Circle makes. In other words, the Circle stable coin was being called a ‘Goldman Stable Coin’. And that is a nice little story.

But a bigger story has been bubbling just beneath the surface at Goldman, and several sources have spoken to us about it.

Goldman Sachs has been actively exploring the creation of a client offering that is based on Ethereum futures in the way of a ‘non-deliverable forward’, much like the NDF Bitcoin product that they are offering clients at the moment. This would represent the penultimate global investment bank staying significantly ahead of its competitors in the race to gather client crypto assets.

**A reminder regarding what an NDF is and how it is used at a firm like Goldman Sachs: a non-deliverable forward (NDF) is an outright forward or futures contract in which counterparties settle the difference between the contracted NDF price or rate and the prevailing spot price or rate on an agreed notional amount. It is used in various markets such as foreign exchange and commodities.

We’ve spoken to a total of six sources on this topic but will limit our description of those discussions to only three of those sources. Two sources asked us to not use their quotes and another had other circumstances disallowing the release of any information. Still, the number of conversations we’ve had around this topic has been extensive.

Our first source described the process as such:

“Goldman has been known to push the envelope and develop products that benefit both the firm and their clients. In this case that is clear. Very clear. The clamoring for crypto assets amongst the UHNW class of investors is loud and continual, causing Goldman to respond. They’ve been quietly assuring subsets of clients that an Ethereum NDF is on tap no later than early in 2019. The purpose of announcing timing to certain clients is to cause them to ‘hold their powder’ with respect to crypto asset allocations so as to make sure they come to Goldman. The team working crypto at Goldman has been charged with controlling as much of their client bases crypto dollars as possible – with an emphasis on custody and regulatory safety. That is the message.”

Our second source gave us this small tidbit, backing up the above:

“In terms of what products could possibly be on tap – I wouldn’t call it products, as in plural. Your focus should be on Ethereum. It is the only other cryptocurrency that has been dubbed a commodity, thus making it a natural choice for us (Goldman). And the focus is an NDF designation. That covers the bases from a regulatory standpoint and gives clients that access they want. Expect an early 2019 release.”

A final ‘quotable’ source from inside Goldman said the following:

“Ethereum NDF will happen. Not a question of if, but rather when at this point. Clients believe that Bitcoin and Ethereum, on balance, are the investable digital assets and have been asking about solutions since late 2017. Obvious reasons why that would be the case. The noise around Ethereum has only increased as the price has pushed lower. Clients look at these assets like internet names after the dot-com crash. We are simply filling a need based on significant client requests. I will add, I doubt that we include any other cryptos for a significant amount of time once Ethereum is added. Hard to make that case that any other asset holds intrinsic value.”

Intrinsic value. Client requests. Regulatory designations. All terms that were cited again and again and again in these discussions.

Goldman Sachs has proven to be very nimble in the space and causing competitors to play catch up in ways that we didn’t expect. Citigroup, Morgan Stanley, Bank of America, and others and working overtime to get to where Goldman already is.

Adding an Ethereum NDF will only widen the gap, should Goldman find a way to release it this year. Nobody we spoke to gave us 2018 guidance, but should it happen that quickly it would strategically put Goldman in the ‘way out front’ lead in the UHNW crypto crowd.

A reminder of what Goldman has been doing with crypto assets leading up to even this piece of information – they’ve been hard at it for better than six months.

“Via Bloomberg: “The firm is considering a plan to offer custody for crypto funds, according to people with knowledge of the matter. That means the bank would hold the newfangled securities on behalf of the funds, reducing the risk for clients seeking to guard against the threat of losing their investments to rogue attacks.”

“The deliberations are ongoing and no timeline has been set for when the firm will roll out the services, the people said, asking not to be identified because the information isn’t public.”

“A formal offering from an institution like Goldman Sachs would provide a credible backing for crypto funds and could pave the way for more investors to bet on the asset class. Having a custody operation in place could also lead to other ventures, including prime-brokerage services, the people said.”

Goldman knows what they are doing and are rushing to gather crypto assets.

The post SOURCES: GOLDMAN AND ETHEREUM: Goldman Is Actively Exploring The Creation Of An Ethereum NDF To Offer Clients appeared first on The ICO Journal – Cryptocurrency News, Bitcoin, Coin News.

Via: SOURCES: GOLDMAN AND ETHEREUM: Goldman Is Actively Exploring The Creation Of An Ethereum NDF To Offer Clients

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market ————————————————— Binance: Exchange for Traders Ledger Nano S: Hardware Wallet Coinbase: Exchange for Investors CoinSwitch: Wallet-to-Wallet Exchange

Via: SOURCES: GOLDMAN AND ETHEREUM: Goldman Is Actively Exploring The Creation Of An Ethereum NDF To Offer Clients

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what will it drop too?

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New in Big Data: Apache HiveMall - Machine Learning with SQL ☞ http://bit.ly/2oi9xF7

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Mother of god

Current price of Bitcoin is $5961.00

Current price of Bitcoin is $5961.00 August 13, 2018 at 11:00PM

[renforceecrypto-blog]

Ether Price Analysis: Higher Lows Could Yield Retest of Local High

After two back-to-back weeks of record-setting volume, ether finds itself situated below historic resistance and currently unable to reach its downtrend line:

Figure 1: ETH-USD, Weekly Candles, Downtrend and Record-Setting Volume

For months, ether has been unable to break its downward trend. And now, after having an enormous amount of buying step in, the market finds itself consolidating sideways while it decides what to do next. Given the high amount of buying pressure that temporarily stopped the price drop, it is likely that a temporary bottom is in for ETH-USD. If we look on the daily candles, we can see just how high the daily trading volume has been for the last three weeks:

Figure 2: ETH-USD, Daily Candles, Daily Trading Volume

Looking even closer at a lower timeframe, we can see that the current consolidation is taking the form of a potential reaccumulation over the last few weeks:

Figure 3: ETH-USD, 2-Hour Candles, Potential Reaccumulation TR

After finding its local bottom around the $170s, we can see the volume has begun to consolidate in a big way over the last few weeks. To complement the consolidated volume, we can see a very well-defined supply-and-demand channel (outlined in gray). As the volume has begun to consolidate, the price has consolidated in an upward fashion, where the lows are getting higher and higher as selling pressure weakens and supply becomes more scarce.

If the market manages to break the bottom of the demand line, we can expect the next test to arrive at the $200 level. The $200 level is the horizontal support outlined above by the trading range. From there, we will have to reassess the market and take into account the volume and the strength of the move.

However, if we manage to hold support we can expect to, at minimum, see a trip to the middle of the supply-and-demand channel and possibly see a test of the previous high in the $250s. The test of the $250s is a logical spot to test because it coincides with the daily 50 EMA and has provided solid resistance for months:

Figure 4: ETH-USD, Daily Candles, 50 EMA

Summary:

Ether saw back-to-back weeks of record-setting trading volume.

Currently, the market is moving sideways. However, it’s doing so while making higher lows in the form of a potential reaccumulation trading range.

Current low-end projections, if it breaks out of its ascending channel trend, would have ether testing the $200 area.

If the current channel provides support, we can expect to see ether testing the previous high in the $250 range. This test would also coincide with a test of the daily 50 EMA — a notoriously strong resistance trend.

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

This article originally appeared on Bitcoin Magazine.

source https://www.earnbitcoin.work/2018/10/ether-price-analysis-higher-lows-could.html

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Monero XMR, The Truth Behind The Burning Bug



Monero, the project behind XMR and the privacy coin that isn’t shy of controversy. Monero has always been especially susceptible to mining related hacks and illicit cryptocurrency mining, however, the burning bug within the Monero network takes these surfaces hacks to a new level. It transpires that now, as a result of the burning bug, the entire XMR network could have crashed down in an instant.

Over the past two months, the so called ‘Burning Bug’ has surfaced twice, calling the integrity of the Monero network to question.

Continue reading Monero XMR, The Truth Behind The Burning Bug at Crypto Daily™.

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market ————————————————— Binance: Exchange for Traders Ledger Nano S: Hardware Wallet Coinbase: Exchange for Investors CoinSwitch: Wallet-to-Wallet Exchange

Via: Monero XMR, The Truth Behind The Burning Bug

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Blockchain for Dumbies VI

What is up everyone! I hope you learned a little from prior posts and my last post and especially my last one about trading, tokens, and wallets. If you have any questions feel free to reach out to me here or on twitter @ConnorCrypto1. As I mentioned in my last story my next article I would be discussing with you the impact ICOs have on society and how they have evolved the perspective that society currently has on blockchain technology as well as other revolutionary technologies. Just a quick refresher ICO stands for “Initial Coin Offering,” and is very similar to an IPO.

The first thing I want to discuss about ICOs are the negative perception that society and individuals within in the crypto space have regarding ICOs. The first thing you should understand that it is very easy to establish a company on Blockchain and attempt to raise funding for your project. This relates to numerous reasons, however it is generally due to the ease of being able to ask people for money. To get to this stage all you have to have is a concept, a whitepaper, a team, a website and a few other key pieces. This allows companies to quickly and easily to begin asking for money, where on the other hand an IPO already has a product/concept fully established and you are investing and buying into the company based on the product. Where as for ICOs you are generally investing in a minimal working product, a whitepaper, and a team. Therefore it is essential to do your due diligence and work when investing in these companies.

Continuing, due to the ease of raising funds and being an “ICO” numerous people have been scammed or their money has disappeared. Some companies and individuals have been known to raise money and disappear and use the money raise for their own personal use. There is also no regulations or rules implemented that let investors follow where their money is being spent so it is very easy for a scam to take place. These scams and people losing their money has led to a negative perception of ICOs and it has overly impacted the growth of the Blockchain technology to the rest of society.

The final point for this quick story is the impact ICOs have had on society and the potential impact they could have on investing in the future. What I mean by this is that it will revolutionize the way people invest and trade coins. The reason, and relating to ICOs, is now the general Joes or rest of society who are not in the financial industry and unable to currently invest in small start-ups, have access to the up and coming projects. On top of this they can invest any amount of money the wish into these companies, unlike the current structure. Overall it will completely change the way people invest in the potential future and how it has already begun to change.

Any who, I am high as a kite and am just having fun here tonight. I think for my next post I may discuss a company or project that I think is cool as fuck and have fun with it. Hope you guys are semi-enjoying this and follow me here and on Twitter!

Enforcée out!!

[renforceecrypto-blog]

Blockchain for Dumbies V

Hi Everyone! I hope everyone reading this has enjoyed everything up until now. So far I have been having fun writing this series and discussing Blockchain and giving people a basic understanding of what Cryptocurrency is and how it impacts society! Last time I talked about Digital Wallets or Crypto Wallets and the importance of them for investing in this industry. This post will be quick and to the point as once you have a wallet trading, buying, and selling Crypto is pretty simple. Simple in the sense of conducting these tasks, however knowing what to buy or what is worth your time to invest in is a whole other matter that is very difficult to discuss in quick blog posts.

So again to begin the selling and buying process you must have a wallet established that will allow you to trade with exchanges or with others. There are two main ways that I will discuss today, regarding trading Cryptocurrencies. The first way I will discuss is person to person trading, and this happens when you know each others public keys. Recap a public key is a cryptographic code that allows you to receive cryptocurrencies into your account. Between the public key and private key, these are significant tools required to ensure the security of the crypto economy. However once you have someone’s public address, all you must do is enter that code and state the cryptocurrency and amount you are going to send to that user. Once you have done that depending on the gas amount, the amount you pay for confirmation of your transaction, it will take some time to be deposited within the others account. With cryptocurrency you are able to track the entire transaction and are able to acknowledge once it has been successful or how much longer it may take to deposit. Overall this is the most basic way, and it typically takes place between people you know and can ensure the trade is successful, unless you are able to make smart contracts it would be difficult to do a trade with a general user.

So how do you trade with people who are unknown and you don’t have a prior relationship with? Well that is easy you utilize exchanges, and there are numerous platforms you can use. Personally I use Binance, Bittrex, and Linkcoin. These platforms all provide me with something unique that each one doesn’t provide and enables me to maximize my trading, but for a beginner I recommend being set up on Binance and Bittrex. Once you have done this you will be granted a key to transfer the cryptocurrency from your digital wallet to your exchange wallet. Once you have your tokens, I recommend Bitcoin or Ethereum as these two will allow you to trade with almost any cryptocurrency, you will then be able to buy or sell however many coins that you may wish to buy on that exchange. One important point is that not all exchanges carry the same cryptocurrencies, so it is important to figure out where that currency is offered before making a rash decision. Overall utilizing an exchange allows you to trade with unknown users, and it is secure to smart contracts.

One last thing before I depart, utilizing an exchange or a wallet you are able to transfer your USD or Fiat money to the wallet and then utilize that money to buy cryptocurrencies. Transferring Fiat to your account is always your first step.

This is a general post regarding how to trade cryptocurrencies and how to begin trading! The next post I am going to write will relate to the impact on cryptocurrency and ICOs and how the have impacted the views society has on this revolutionary technology!

Renforcée out!

[renforceecrypto-blog]

Blockchain for Dumbies IV

Hello everyone, I hope you have all enjoyed the three prior stories about Blockchain, Tokens, and ICO’s! One thing I have come to realize when writing about these topics it has shown me how truly unique this industry and technology is compared to other industries that I have done research or worked in. But let’s get into the next topic, and again I will try to make it as basic as possible (if there are any questions feel free to ask), which is how the Crypto market works in a general sense. This topic was recommended to me so I will try my best to break it down quickly and explain it in basic terms. However there will be numerous posts on this subject as it has many different pieces and parts that can impact the crypto market.

Before I get into how the market works with regards to the companies on the exchanges and some of the big players in the industry, it should be illustrated the process that goes into even being able to trade or purchase tokens and alt-coins. The first thing everyone every individual will need prior to trading is a cryptocurrency wallet, which keeps track of the transactions you have done stored on the blockchain. A cryptocurrency wallet is essentially a software program, that you download (ensure you keep your access key and password on hand and in a safe place), that stores private and public keys and interacts with various blockchains and conduct other operations related to cryptocurrency. When a person sends you bitcoin or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. Essentially if you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.

In the prior paragraph I mentioned that the digital wallet stores private and public keys, and you are probably what does this mean. In general if you want to be able to trade coins, send coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet.

Continuing, there are several different types of cryptocurrency wallets. These include; desktop, mobile, online, hardware and paper. All of these have their own pros and cons, as well as different levels of security associated with each one. Keeping this short I will discuss online wallets, which run on the cloud and are accessible from any computing device in any location. While they may be more convenient to access, online wallets store your private keys online and are controlled by a third party which makes them more vulnerable to hacking attacks and theft. Again each wallet is different and you may tradeoff security for ease of use, however all work and allow you to trade and operate on the blockchain.

On the topic of security lets discuss how secure digital wallets truly are. Although, as mentioned above, online wallets have proven the most vulnerable and prone to hacking attacks but as with any wallet if you have diligent security precautions implemented you can reduce the amount of risk you have. Also remember that no matter which wallet you are using, if you lose your private key you will lose access to your account. Losing your private key will result in you losing all the money stored within that cryptocurrency wallet. There are three basic things that I can recommend everyone should do when creating a digital wallet; backup your wallet, update software, and add extra security layers.

Overall the first step to being involved in the cryptocurrency industry is to set up your digital wallet. This is an essential step to entering this industry, without it you will be unable to trade, hold, or sell cryptocurrency. Before I end here there are hundreds of digital wallets one can use, some of them are Metamask, Jaxx, Ledger, Exodus etc. The next story will discuss the trading process and steps, again if you have any questions feel free to reach out!

Renforcée out!!

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Check out the Renforcée podcast! Get weekly news on ICO’s, Blockchain and Cryptocurrency

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Blockchain for Dumbies III

Hi everyone, I hope you enjoyed the last post about tokens and alt-coins. If you have any questions feel free to reach out to me here or on twitter @ConnorCrypto1. As I mentioned yesterday my next article I would talk about ICO’s and what they do, and the impact that they have on the Cryptocurrency industry. Before we begin it should be noted that ICO stands for “Initial Coin Offering” or some call it “Initial Token Offering”, now that you know the name of ICO lets dive into what it is and how it impacts society.

To further your understanding I should first illustrate what an Initial Coin Offering is. An ICO is essentially a means of crowdfunding for cryptocurrency platforms, who release a new cryptocurrency or token to fund the development of their project. Therefore when someone creates a concept that is related to the Blockchain technology when they initially release it, the release a percentage of their tokens which the general public can buy. In return the company receives money they can use to complete their project and you get their coins or tokens at a cheap rate which you can hold on to or sell once the company hits an exchange. ICO’s are similar to an Initial Public Offering (IPO) for stocks, where a company raises funds to complete their project. One major distinction is the time it takes to liquidate those stocks compared to tokens. Where stocks can take several years before you are able to recognize, trade or liquidate them Coins/Tokens can hit an exchange within a few months. This makes it very appealing to investors as it is a quicker to around time to having recognized funds.

So not only do ICO’s allow for new coins to be distributed amongst buyers it is also a great way for unique companies to raise funds and for the general public to invest in unique projects that they generally would not have the chance to do.

I hope you appreciated this quick explanation of ICO’s, tomorrow I will discuss the pros and cons of the current ICO model and the impact it is having on Cryptocurrency becoming a mainstream phenomena.

Renforcée out.

[renforceecrypto-blog]

Blockchain For Dumbies II

During my time in Crypto I have read, noticed, and learned a tremendous amount of things about the industry, and as well as myself. Again throughout these stories I will try to explain what I have learned in the most basic of ways so that the general public can associate with what I am talking about. The last article I wrote discussed “why blockchain” and how is it different then normal financial institutions and I am hoping that for the ones who read it that it was informative and I would welcome any feedback one may have for me.

As of now though the next topic I will discuss which seems to be a continuous topic amongst people is why are there so many different names of platforms and what differentiates them from one another, and also what makes Bitcoin or Ethereum different from the other tokens/coins. Well to begin each token or coin that is on the exchange or is known to society has a unique concept and platform that the team of that company is attempting to create. For example Eos.io has created a powerful infrastructure for decentralized applications, therefore one is able to build on this network. Whereas other allow you to use their platform to pay mortgages, vacations, supplies etc. so all in all each token/coin that you see has a different concept that it is attempting to create by utilizing the Blockchain technology.

Continuing when you talk about Blockchain or Cryptocurrency the average individual will know either Bitcoin and Ethereum, whereas it is the people who have more interest in the technology that know about the other tokens/coins. This brings me to my next point about tokens and alt-coins, and what does this mean when looking at cryptocurrency. First to be discussed are altcoins or alternative cryptocurrency coins, which simply refers to coins that are an alternative to Bitcoin or Ethereum. An altcoin is a variant (fork in the network) of Bitcoin, built using its open-sourced, original protocol with changes to its underlying codes, therefore creating an entirely new coin with a different set of features. Some examples of altcoins that are variants of Bitcoins codes are Litecoin, Dogecoin and Auroracoin. There are also other altcoins that are not derived from Bitcoin’s open-source protocol. These coins have created their own Blockchain and protocol that supports their native currency. Examples of these are Ethereum, Ripple, Omni etc. A commonality of all altcoins is that they each possess their own independent blockchain, where transactions relating to their native coins occur in.

Tokens on the other hand are a representation of a particular asset or utility, that generally resides on top of another blockchain. Tokens can represent basically any asset that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies. All you have to do for token is follow a standard template on the blockchain — such as on the Ethereum platform — that allows you to create your own tokens. The functionality of creating your own tokens is made possible through the use of smart contracts. Smart contracts are programmable computer codes that are self-executing and do not need any third-parties to operate it. Now how these tokens are created and distributed will be discussed in the next post, as ICO’s deserve its own post to break down.

Overall, the main difference between altcoins and tokens is within the structure. Altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.

Hopefully this post was general enough, and if there any questions shoot me a message! Talk to you tomorrow.

[renforceecrypto-blog]

Blockchain for Dumbies — Part 1

Hi Everyone!

This is the first part in a continuing series and will discuss Blockchain, however not from the typical developer/engineer perspective. The perspective that I am going to take on this topic is how a business/sales individual understands this industry and explain it from a business point of view!

So with this in mind this article is going to focus on is what is Blockchain. A standard definition for blockchain is “a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.” Basically blockchain is the financial industry digitized, and allows us to ensure there is transparency, decentralized, and security when a transaction is in progress.

How does it ensure these three characteristics? Well Blockchain is transparent due to the fact that all transactions are checked and ensured to be valid prior to being completed. Once this is done all transactions are contained within a ledger, or a block in chronological order. However the answer to Blockchain being transparent, relates to all transactions that are completed are tracked and visible for any user or individual using this technology to see as long as you know their address.

Before I continue, I want to state that your transactions are transparent based on your Crypto address and not in relation to your name so it is still partially anonymous. Now how is Blockchain being transparent vary from how transactions are already completed? Well imagine you bought a car that is in perfect condition, only has 100,000km on it and the owner tells you there has been no major repairs. Due to the history of the car not being tracked, your decision ultimately relies on your trust of the seller. But when this car is being tracked through Blockchain technology, you do not have to rely solely on the seller but the entirety of transactions for the car will already be created on the ledger. This results in your complete understanding that the car is in the condition stated.

The next characteristic that Blockchain is built on is that it is a decentralized network. The reason this is essential to the concept is because this has allowed, individuals involved in this industry, to transfer power from the state/government to the people. Ultimately this technology is regulated by the people and ensures that they are not continuously being watched by the government, and also allows them to have an increased amount of freedom then when dealing with a typical institution. However this can result in extreme price fluctuations since it is only being controlled by the people.

Side notes; some companies involved on this technology have created centralized exchanges, but that is the small majority. An example of this is Ripple.

The final characteristic to be discussed today is Blockchains increased security. This is based on the concept of Proof of Work, basically everyone is checking each other’s work to ensure that the transaction is valid and that the person sending the crypto currency actually has what they say, and the person receiving the crypto is valid. The reason this concept is secure is because it relies on not just one person to make a decision, but numerous individuals and has to be agreed on by these individuals before the line on the ledger is approved. The one downside of PoW is that if one entity gains 51% of miners they are able to control transactions, and even if the transactions are false they can still approve them.

Overall Blockchain is transparent, decentralized, and secure. These three factors are essential to the basic makeup of this technology and these factors are some of the many reasons why I believe this technology will be the future. On Monday I will discuss tokens, what are they, and the difference between alt-tokens and main-tokens.

Have a great weekend,

Renforcée

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Hello Everyone!

I trust everyone is well! On September 28th, 2018 there will be a Blockchain Impact Summit occurring at the Hilton Toronto (145 Richmond Street West, Ontario, M5H 2L2). This conference is bringing together some of the key players and influencers within Blockchain technology and investment.

The Conference will discuss the future trends of Blockchain technology and showcase companies who are using this technology to disrupt industries and continuously innovate. This platform will ultimately provide you with a chance to meet up with Blockchain Industry leaders and exchange ideas, while gaining valuable knowledge from the numerous speakers. Some of the speakers are; Draper University, Sunny Feng Han, Michael Conn and the list goes on!

If you want to sign up and attend or if you want to be a presenter shoot me a message and I can help you out! See the document below for more information about the event and if you have any questions feel free to reach out and ask.

Looking forward to seeing you there,

Blockchain Impact Information; https://dochub.com/connor-d-bradley/kn2lkg/bi-toronto-updated?dt=2qJga8X_RkQNnEXm4shR

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