The Web Needs a Digital Currency: The Time for Seamless #micropayments Is Upon Us
▻https://hackernoon.com/the-web-needs-a-digital-currency-the-time-for-seamless-micropayments-is-
The founders of the web expected that the web will, one day, have a native currency. Some sort of digital cash or micropayment system that will be as integral to the proper operation of the space as links and passwords. Thirty years have passed, and there is no sign of the 402 error!Let’s go back to the early 90s when the founders of the World Wide Web and its inventor Tim Berners-Lee were working on a list of errors people might encounter as they were interacting with the web.Some of the errors they created are too familiar — the 404 Not Found error has turned into such a cultural sensation that websites compete to have the funniest page. Other’s are less common, but you might have witnessed them at some point, such as the 401 Unauthorized error. But, I bet almost none of you have come (...)
]]>#cbcd: 19 Countries Creating or Researching the Issuance of a Digital Decentralized Currency
▻https://hackernoon.com/cbcd-19-countries-creating-or-researching-the-issuance-of-a-digital-dece
Our current monetary system is comprised of state-backed fiat currency.While the actual money-changing-hands approach has seen a steady decrease, hence we might be moving towards a cashless society, and digitally transferring funds is considered favorable payment solution, countries like Sweden and Canada are researching the issuance of digital decentralized currency.Nationwide trade restrictions, issued by one of the world’s most powerful countries, the US, are also a reason for issuing a digital decentralized currency, or the more commonly referred to Central Bank Digital Currency (CBDC).In a speech about CBDC, Christine Lagarde, Managing Director of the IMF stated:‘The case is based on new and evolving requirements for money, as well as essential public policy objectives. My message is (...)
]]>Guide to Digital Currency Wallets
▻https://hackernoon.com/guide-to-digital-currency-wallets-85dd1f1d37c8?source=rss----3a8144eabfe
Dear reader, where do you hold your money? In your #wallet, in a bank, under your bed, or you go for all three options? Well, there are valid reasons for keeping the money in different places — the way we keep them. We want to buy flowers and chocolates for our significant other on Valentine’s day paying cash to a seller right away, we are saving money to buy an apartment — we keep money in a bank. Anyhow, you are the only person that has access to your funds: you know where is your wallet and you know pin code for your banking card. The story is no different in the crypto world, except the wallets are a bit more complicated.It’s hot and it’s coldDigital crypto wallets are of 2 main types. First, there are hardware wallets — physical devices that usually look like flash drives. Second, there are (...)
#digital-currency-wallet #digital-wallet #bitcoin #cryptocurrency
]]>How Crypto Charities and Businesses are Helping Venezuelans Beat Hyperinflation
▻https://hackernoon.com/how-crypto-charities-and-businesses-are-helping-venezuelans-beat-hyperin
Demand for #bitcoin continues to rise in Venezuela, with trading volumes in October 2018 reaching a record high of 853 million bolivars. This trend isn’t new; Bitcoin trading in the Latin American country has been steadily growing since mid-2017. Cryptocurrency exchanges like CoinCola provide a fast and secure way for local citizens to buy Bitcoin, Dash and other altcoins.What has caused this surge in crypto trading? The Venezuelan economy has been severely impacted by the bolivar’s drastic inflation, which the IMF estimates may reach a million percent by the end of 2018. With many Venezuelans now unable to afford food and medicine, local citizens are looking for an alternative means of exchange. Cryptocurrencies offer a relatively more stable store of value and provide a more efficient (...)
]]>“The selfish mining fallacy” explained and debunked
▻https://hackernoon.com/the-selfish-mining-fallacy-explained-and-debunked-3e7b7aee7d36?source=rs
A few months ago Craig Wright went into a tirade regarding Selfish mining. In this analysis I will let alone his style which is artistic to say the least. Calling selfish mining ‘a cancer’ is an unhinged exaggeration that also makes it hard to regard his argument seriously.Reminder — Selfish mining is a mining strategy where the miner / mining pool strategically chooses when to submit his blocks to the public chain, rather than submitting them immediately upon discovery. In this way the miner is able to cause the other miners to work ‘for nothing’ on obsolete chains, enlarging his overall share of the mining revenue.Trying hard enough, you can extract two main arguments from Craig Wright’s writing on the subject, which I actually find interesting, but unsupported with facts once you dive into (...)
#digital-currency #bitcoin #blockchain #bitcoin-mining #ethereum
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