It is obviously a good news for the Arizona blockchain dependent corporations. According to the new bill passed by the Arizona Senate recently, the corporations active within Arizona borders can now hold and share data on a blockchain law fully as it has been followed by the signing of a new act of law by the U.S. state’s governor. The bill concerning blockchain usage was first introduced by Jeff Weninger. According to amendments it will be applied to recognize data written and stored on various systems with the help of blockchain technology. As reported by a a legislation tracker, it was being signed by the Governor of state Doug Ducey on April 3.
The Arizona House was quiet efficient to pass that bill within eight days since it was being introduced. Though the senate followed the case roughly a month later. However it was passed by the senate as a result of unanimous voting. It was reported in a blockchain news that only four of the House Representatives voted against the bill or abstained it.
Why was the bill passed?
There were several reasons for that bill, however the main reason being in terms of legal documentations. Need for such a bill was felt more than ever after signatures recorded on a blockchain and smart contracts were considered as legal documentations. It was also mentioned in the bill that the law accepts these signatures as legal electronic signatures. Now it will be possible for concerned individuals to sign digital records or smart contracts on a blockchain with full authority. It has been assumed that this new amendment new legislation will also play an important role in arousing interest in blockchain applications across other parts of the United States of America.
Background of the bill
However Arizona is not the first state of America to pass such a bill. Lawmakers in Delaware have gone through similar legislative bills and law measures in 2017. Thus Delaware has the honour to be the first U.S. state which provided a legal basis for trading blockchain based stocks. Also, it was being reported by the most famous crypto discussion platform CoinDesk last year that four such bills were introduced by a lawmaker in New York. The aim of these bills was to evaluate blockchain applications for various types of storage purposes.
ShelterZoom, an Ethereum blockchain-based online platform for the real estate, has gone live in the U.S., with worldwide markets to go live in the first quarter of 2018.
New York City-based Cyrus Charter, the first customer on the platform, is in the midst of an initial test for the ShelterZoom stage that started in November. What’s more, 10 clients have started a beta test. The organization recently announced its first WordPress real estate theme affiliate, Estalik, and its first Australian organization, Arena Property Agents.
ShelterZoom is intended to streamline the way toward making and accepting real estate sales offers, decreasing printed material and enhancing the transparency of purchasing and selling. The framework has been worked to the Real Estate Standards Organization principles.
The ShelterZoom online incorporates a dashboard, the Offer NOW gadget, and a portable application which is accessible on Google Play and iTunes, empowering buyers and specialists to instantly submit offers from online real estate listings with only a couple of clicks or taps.
Sign Ups Are Being Accepted:
The site is now allowing sign-ups for the Offer NOW gadget, which can be coordinated with any affiliate site including real estate listings with a couple of lines of code, at no cost to the sign-ups before Jan. 31, 2018.
ShelterZoom charges $8 for each offer submission following the free beta timeframe finishing by Feb. 28, 2018.
“ShelterZoom is well positioned to bring the whole real estate industry onto it,” said Chao Cheng-Shorland, prime supporter, and executive. The gadgets can be received by any real estate site. Cheng-Shorland drives the multi-national team alongside fellow benefactor and chief Amir Allen Alishahi.
“Standardized, straightforward, and secure offers are the eventual fate of the business,” Cheng-Shorland included.
Clients can track, accept, reject or counter offers progressively, while purchasers and operators can track offer statuses on their ShelterZoom dashboards. All parties to an exchange can get push or text notifications all through the procedure and chat with each other.
“We will see quick adoption of blockchain technology by commercial centers, associations, and whole enterprises,” said Sergey Fradkov, ShelterZoom technical advisor. “Blockchain and related digital money usage will empower new plans of action and streamline collaborations between members. They will likewise empower new members to rapidly build up themselves in the business fragments and create numerous new business opportunities.”
Canada, Australia, Europe, and countries in the Middle East are set to go live on the platform in the first quarter of 2018.
Litecoin is a peer to peer digital currency which enables instant, almost zero-cost payment in the world. Litecoin is a global and an open source network which is completely decentralized without any fundamental authorities.
The blockchain of Litecoin is capable of handling higher transaction volume than its corresponding currency – Bitcoin. Because of generating more frequent blocks, the network supports more transaction without modification of the software in the future. By this way, merchants get the faster confirmation times.
Miners are awarded currently with 50 new Litecoin per block. Therefore, the Litecoin network is scheduled to generate 84 million Litecoin, which is 4 times as Bitcoin.
Wallet encryption allows their users to secure coins through a wallet so that user can check transactions and account balance. This requires entering user password before spending Litecoin. This method provides protection from wallet-stealing trojans and viruses as well as check sanity before sending payments.
It is an open source software project which is released under the MIT/X11 license that gives you the full control to run, copy, and modify the software. It also gives the power to distribute at your option and modified copies of the software. The Intel integrated graphics cards which are in most laptops are just not suitable for this purpose. To retain speeds up to a high level, most Litecoin miners build dedicated machines by using motherboards which can hold many graphics cards, generally via riser cables.
How to Get Started with Litecoin?
It’s very simple to get started with Litecoin.
Here are some ways to start:
Get a Litecoin Wallet
Get Some Litecoin From an Exchange
Use Your Litecoin
What are Main Litecoin Features:
Litecoin features are:
Faster Transaction Confirmation Time
Improved Efficiency than the top math-based currency.
How to Mine Litecoin:
Except you own specific mining hardware, there are two ways to mine digital currency:
With Your Central Processing Unit
With Your Graphics Processing Units
GPU provides better performance which required for the cryptographic calculations. If you are making your first ever raid in mining and don’t have a heavy gaming computer, then with just a laptop having Intel integrated graphics will possible to mine Litecoin.
Be careful, mining digital coins is highly system intensive and may reduce the lifespan of your electronic machinery. It’s a good idea to be sure that you have an adequate place, keep an eye on the temperature, and also keep in view any other warranties, just in case.
Mining may also be a solitary project or you may join a mining ‘pool’. In mining pool, many people combine their mining system and all take a share of the rewards.
How Much is a Litecoin Worth?
At the time of writing, one Litecoin is worth $52.75111396. The past few weeks was quite remarkable for Litecoin. However, many people assumed this currency will be dead but that is not the case. In fact, this currency is heading to a very bullish direction. The value of Litecoin has increased by over 700%. This is because of Coinbase listing and SegWit locking in. The future is looking bright for Litecoin because the price of Litecoin Continues to Climb.
How to Buy Litecoin:
Some points which will lead you how to buy Litecoin:
A way of getting Litecoin is mining them through standard computing apparatus.
Always try to have a check balance before investing funds, and should not take a risk the amounts you can’t afford.
Buying Litecoin is not an easy job as buying Bitcoin.
One of the straightforward ways is to simply buy Litecoin with Bitcoins, this is actually the fastest approach, and it is also the cheapest option for most of the users.
Anyone with Bitcoin can easily buy Litecoin from a number of exchanges:
Others have mentioned on Litecoin wiki.
You are thinking that buying Litecoin is the much easy way via fiat transfer through an exchange, but it can be a boring process for some reasons. Some main exchanges of Bitcoin like Coinbase and BTC China don’t deal with Litecoin transactions.
Another way is to buy Litecoin locally, forgoing the disturbance of wiring currency abroad, and changing it into Litecoin.
What are The Top Litecoin Wallets?
Many exchanges provide the service of online Litecoin wallets, but they are not modern solutions. Most of the users want something more secure as offline or cold storage wallets. Litecoin has luckily built-in encryption features that you can use to secure your wallet by just a few clicks.
Many users like to use the official Litecoin-Qt desktop client, but it has some syncing issues with another fair share of faults.
For a more secure and long-term storage, you have to setup a Litecoin paper wallet.
It is also possible to get a paper wallet with credit card quality from Crypto Coin Wallet Cards, but some smaller companies are also selling physical Litecoin or coin holograms.
What Is the Difference Between Litecoin And Bitcoin?
The coin Limit of Bitcoin is 21 million and the Litecoin network will generate 84 million Litecoins, which four times more than coins issued by the Bitcoin network.
Bitcoin uses SHA -256 algorithms, however, Litecoin uses Scrypt algorithm, the main purpose of using the Scrypt was to allow the miners to mine both Litecoin and Bitcoin at the same time.
The mean block time of Bitcoin is 10minutes whether it is 2.5 minutes for the Litecoin.
The initial reward of Bitcoin is 50 BTC and the initial reward for Litecoin is 50 LTC.
The market cap of Bitcoin $10,467,596,650.78 and Market cap of Litecoin is $540,274,528.26.
In the end, many people still looking at Litecoin as a Bitcoin testbed. Many people will keep an eye of SegWit malleability fix and be looking at how it effects Litecoin. This time is still much exciting to involve in Litecoin, although people having Litecoin may see the increment in the value of Litecoin these coming weeks.
Bitcoin is a decentralized digital currency. There is no physical existence of Bitcoin, just the verification and value it has been given by a global peer-to-peer network. All these transactions are recorded in Blockchains.
The blockchain is very much like a public shared ledger. All the confirmed transactions performed ever using Bitcoins are recorded in this ledger. These blocks are an ultra-secure data, treated like cash. All the transactions are received and sent through wallets which are digitally signed. To ensure security, bitcoin wallets come with a private key or seed. These signatures ensure that the transaction is performed by the current owner of the wallet and provides with the mathematical proof. In reality, there is no transfer of Bitcoins but the change of ownership and quantities of Bitcoins.
How Does a Transaction Work?
If person A needs to transfer Bitcoins to person B, the transaction carries three parts.
An Input- record of wallet of person A
An Amount- the number of bitcoins person A sends to person B
An output- person B’s wallet
How Can You send Bitcoins?
To send the Bitcoins to anybody you require two things.
A bitcoin address is generated by an individual randomly. It mainly consists of a sequence of numbers and letters.
A private is a secret key with a unique sequence of numbers and letters.
When person A wants to send coins to person B, she signs a message with her private key to authorize the transaction. The transaction will include,
Input (source wallet)
Number of Bitcoins to sent
Output (person B’s address)
Person A then sends the number of Bitcoins to the Bitcoin network from her wallet. Once entered in the network, miners will then verify the transaction included in the blockchain. The miners will then solve the mathematical puzzle and in the end, it will verify that person B is the new owner of the specified number of coins.
Just like account ledgers containing amount and names, blockchains function almost the same. People exchange money by changing this file.
For instance, if person A sells a product to person B for $5, person A’s balance goes up by $5 and person B will have a reduced balance of $5.
There are no third parties involved in the system, like banks or other financial institutions. So, who takes control and responsibility of controlling and maintain this ledger? Every coin holder maintains their own copy of the ledger. All the participants can see each other’s ledger and their balances. In Bitcoin ledgers, these names are exchanged with specific numbers to ensure anonymity.
To keep every ledger synced and harmonized, there is a protocol that needs to be followed. To do a transaction you tell everyone by broadcasting a message with your account number, the receiver’s account number and the amount to be transferred. Every coin holder around in the world will update their ledger.
There are people who help in maintaining the system. You can simply use the system to perform the transaction without maintaining the ledger.
To ensure sender is the real owner of the account, Bitcoin requires a signature to verify it, but a mathematical signature.
When an account is created, a private key is generated mathematically linked to that account number. The private key and the text from the transaction are processed through a special cryptographic function to generate a signature. To make sure the signature is done by the wallet owner and to the specific transaction, another function allows the other people to verify the signature. These signatures cannot be copied as they are unique to each transaction.
The main problem with the system is that this cannot verify when a transaction was performed.
For example, if a person falsely has to withdraw 2 cheques out of an account but it has enough money to cover one account. the bank will refuse the second cheque due to an inadequate amount of cash after the with drawl of the first cheque. It is much harder to determine the order in Bitcoin. Due to the scattered individuals all over the world taking part in the transaction, there may be a delay in different orders in different places. Fraudsters could lie about these time lapses.
Two recipients might both think their transaction is first and ship a product allowing the fraudster two spent the money twice.
New transactions go into a pool of pending transactions. These transactions then get into the giant chain that locks in their order. A lottery is then held, enabling participants to choose a transaction of their choice to solve a special problem to link them to the end of the chain. The person to find the solution first wins and gets their transaction next in the chain.
That’s how pretty much all the transactions in the Bitcoin system are performed.
Bitcoin is a digital currency that first came into circulation in 2009. The identity of the creator is still disclosed.
In recent years, Bitcoin has attracted interest from numerous people of different lines of work, but there is still a large portion of the public that still doesn’t know what is Bitcoin and how does it work. Simply stated, Bitcoin is a peer to peer, decentralized, digital currency system, designed to enable online users to make transactions via the digital currency. In other words, it’s a virtual currency.
Let’s take a look at some of the advantages of using this currency.
What Are The Benefits Of Bitcoins:
Its Tax Free:
When a user buys something using euros, pounds, dollars or any other type of flat currency, he is supposed to pay some additional sums in taxes. Every item that is purchased via cash has a certain amount of tax on it.
On the other hand, Bitcoin is tax-free. No sales taxes are involved when you pay with bitcoin in transactions made.
The zero taxation makes Bitcoin an extremely useful form of currency, especially when it comes to buying luxury items.
There Are Minimal Transaction Fees:
Exchange costs/fees are part of all sorts of wire transfers. On the other hand, no such costs come with Bitcoin transactions. Since there is no monitoring bank or governing authority to keep the flow of bitcoins in order, the transaction costs are extremely low, or even zero in some cases.
Flexible To Pay:
The fact that Bitcoin payment system is online makes it extremely handy for the users to make transactions. All you have to do is tap your smartphone screen a few times or do some clicks on your PC to transfer the coins.
The flexibility in payment methods means you can make the worldwide transaction without even having to leave your bed. Amazing! Isn’t it?
Bitcoin transactions are distinct and give you complete user anonymity. Every purchase made through bitcoins is never connected to you and there is no way for it to be tracked back to you. However, if a user is willing to reveal his identity, he does have the option of to publish his transactions – but in most cases, the users prefer to stay anonymous.
Lastly, The Currency Is Free from Third Party Influence:
One of the biggest advantages of using Bitcoin value is that it eliminates third-party influence. There is no central bank or a government authority controlling the flow of bitcoins, which ultimately eliminates the chances of your transaction being disrupted.
Bitcoin transactions are based on peer to peer system and it allows the users more freedom and greater liberty to make a purchase.