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Late 19th century, a majority of the people did not use the internet. Whereas, next 20th century comes with new technologies, innovations. Which totally change the nature of the environment. As barter system introduce the transactions process. Afterward, leather money uses for transactions, which later turn to metal, then gold asserts itself in trading. In addition, with the passage of time transaction process introduce paper money.

Finally, technology introduces the digital money for the transaction in all over the world. Which is most flexible and convenient. while, In the general discussion of the technology, blockchain is at the top of the list. Now, the question is, what is blockchain? how does it work? And many more discussion will be available in this article.

What is blockchain?

The blockchain is a technology to verify and record the digital made transactions. It is directly underlying technology to the bitcoin. This technology has the ability to transfer, inform and secure the money. Basically, it is a term which describes the distributed network database technology underwrite once and read the only system. Here, we can observe the one thing,

Bitcoin = blockchain

Ethereum = blockchain

Other crypto-currencies = blockchain

Smart contrast = blockchain

Distributed ledger technology = blockchain

 

Everything about blockchain

 

Blockchain technology has the four major components. Are given below;

  • Privacy: System provides the complete security to its followers regarding their transactions and its recordings.
  • Smart contracts: This system is enabled to add in and being able to execute on individual chain codes.
  • Establish consensus: If you have a strong distributed ledger then participants and a network will agree to the transactions happen. Which need to be a means of establishing consensus between two or more parties.
  • Control: A database which easily shares by different organizations. Whereas, no one authority has full control over it. Which differentiate it from other traditional database platforms. Where multiple people are using this database, there is always one party to write read and connect it to others.

 

Why blockchain seeks the other’s attentions???

People who don’t like traditional transactions system and bored up because of a time-taking process of payments. Accordingly, interested to adopt a new, secure and fast system of transactions. They tend toward the blockchain technology.

Founder and CEO of multichain Dr. Gideon Greenspan say, “People are interested in Bitcoin because of, first of all, it’s technologically interesting. It’s a combination of ideas that’s may have been used before but the way they’re put together and the end result is smart and unique. The second reason is because it enables censorship free digital finance: That is a goal that has never been achieved before. The idea that you can transact digitally with who you want, without there being any central place that can be pressured or switched off is new. The third is the endless speculation in the price, as it goes up and down. It’s an endless story in itself which keeps people interested”. In addition, “People are interested in private and permission blockchain because they offer the possibility of making certain types of IT systems more efficient. This effects IT systems of multiple organizations where companies need to communicate with each other.

Distributed ledger

Basically, it is a recode of what you have. As blockchain is completely different from traditional database technology. in addition, with no central storage and no central administrator of a ledger.

Accordingly, it is an asset and can share across the world. However, this technology id so-called blockchain. people create it and tend to digital cash of the bitcoin. Bitcoin and other cryptocurrencies are accumulating in blocks. And, then by using the cryptographic signature, the blocks are add to the chain.

Benefits of blockchain

  • Secure way of transactions and crystal clear process.
  • Miners authorize the transactions. Transactions become immutable and secure from hacking.
  • blockchain technology minimizes the existence of the third party in transactions.
  • decentralization of the technology.

Whereas, Banks and other organizations are going to invest in this space. Following are some banks and other FIs on the blockchain.

 

Everything about blockchain

In addition, some of the use cases and non-financial use cases of blockchain are as follows,

Use cases

Everything about blockchain

Non-financial use cases

Everything about blockchain

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Dream Market’s Down – What Are The Alternatives?

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You’re probably familiar with the news on the take down of two of the largest online darknet marketplaces – AlphaBay and Hansa. It’s being called as the largest international operation against the dark web’s marketplaces conducted by the FBI, DEA and Dutch National Police. Dream market reddit trying to exit scams about cryptocurrencies.

However, it was ironic how the federal authorities took down AlphaBay but took Hansa under their charge and kept it running for around a month just to keep an eye out on the happenings of its daily visitors. Also, the visitors of AlphaBay Market had flooded the Hansa Market since they were forced by the seizer.

In addition, many of AlphaBay’s users found refuge in other dark markets as well such as Dream Market, which is said to be the second-largest darknet marketplace. But this safe haven is seemingly on the red alert as well as some Reddit users on various “r/Dream_Market” threads are concerned about the marketplace.

A Reddit user claims that Dream Market might already be under the federal authorities control. This is what the user’s post said.

“I got contacted by an ex-Hansa staff member telling me that the operation is apparently bigger than we currently assume, that ‘there will be a bloodbath, a purge’ and that ‘any vendor on HANSA should immediately seize his operation, lawyer up and hide his trails’.”

Another Reddit user claimed to have found a non-encrypted IP address in Dream Market’s source code, saying that the police have possibly taken control of the black market and are now observing all the activities of its visitors.

Now you might be wondering what are other alternatives that you could visit that are not on the radar right now. Well, fret no more.

Here are 3 of the closest options you can get of the above-mentioned darknet marketplaces:

3 Best Alternatives Of Dream Market:

  1. Silk Road 3.1:

As we all know, Silk Road has been taken down several times before but that has never stopped it from rising back up. This proves that as long as the Darknet Markets remain, so will Silk Road. It is still growing in popularity which is a good sign since it means its laying low.  

  1. RAMP:

Russian Anonymous Marketplace is one of the oldest darknet markets to exist. With a forum based interface and a range of drugs from light to hard, it is a good alternative. Especially since it’s pretty old, it has got good reviews.

Last but not the least…

  1. Bermuda:

Bermuda is a brand new darknet marketplace that is said to provide an escrow service based on Bitcoin for a safe and smooth trading procedure. The advantage of it being entirely new is that it’ll be completely off the radar so you are in good hands. According to some reviews, it’s doing good in the market, so definitely check it out in case you’re looking a safer alternative.

 

Story & Image Credits: thehackernews.com

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Cryptocurrency Mining Stocks – Which ones are the best?

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Cryptocurrency mining is a process through which businesses/persons with high-powered computers and servers compete against each other in order to solve extremely complicated mathematical equations – result of the encryption which is designed to protect transactions on a blockchain network. Top cryptocurrencies use mining process; however, others use different methods.

top cryptocurrencies

There are other factors that you

keep in mind, since there are inflated costs included in the crypto mining, as well.

must

  • Thousands of servers, processingunits, and hard drives are used for solving complex equations, making it a highly intense electricity practice.
  • This doesn’t only increase the electric bill, but also creates a lot of heat, so a cooling system might be required for it as well.
  • Likewise, hardware becomes outdated real-quick, so miners are also required to upgrade their equipment on daily basis to remain competitive.

Mineable Cryptocurrencies

All virtual currencies are not mineable. Mineable cryptocurrencies are:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Litecoin
  • Monero
  • Dash

However, other cryptocurrencies like Ripple, E

 

OS, Cardano, Stellar, IOTA, and NEO, use a different technique of transaction validation, which is known as “proof of stake.”

Cryptocurrency mining isn’t viable for everyone, though it has been lucrative. There are many ways through which investors can gain exposure to crypto mining.

 

AMD and NVIDIA

The most protuberant names of the bunch are:

  • NVIDIA
  • Advanced Micro Devices (AMD)

They are quite popular for their PC-based microprocessors and graphics card, respectively. However, no company has been impending related to how much of their sales are linked to cryptocurrency mining, but at the same time, each company has evidently profited from the sale of graphics processing units (GPU).

 

In reality, the demand for GPUs is quite strong and the price of graphics cards, including the new and the old ones is also increasing. This truly makes a little bit of a conundrum for both AMD and NVIDIA, as AMD is more commonly known. The main customers of both companies are potential gaming enthusiasts as well as enterprise customers.

If cryptocurrency mining demand keeps on plucking the supply from the market, the high price for graphics cards could come as an upheaval amid AMD and NVIDIA’s customers. On the other hand, if these companies make a product just for cryptocurrency mining, they will probably cut down the prices by cumulative supply and cram the sales.

Although both companies surely have so much going on outside the cryptocurrency mining industry, but still there’s a possibility that their share prices could consider the ebbs and tides of virtual currency token prices – consequently, making it something unforgettable.

 

TSMC (Taiwan Semiconductor Manufacturing Company)

Taiwan Semiconductor Manufacturing Company is among growing cryptocurrency mining stocks and isn’t really keen on revealing its sales percentage.  TSMC reported strong first-quarter functioning results last week, including a 6% upsurge in its sales from the prior-year period. The co-CEO and president of TSMC, C. Wei, explicitly said that these consequences were largely driven by robust demand for high-performance computing like “cryptocurrency mining.”

 

HIVE Blockchain Technologies

Well, if you want cryptocurrency mining exposure deprived of running your particular own mining operation, there is over-the-counter exchange-listed HIVE Blockchain Technologies. This widely traded cryptocurrency mining firm is trying to ramp up its operations in Iceland and Sweden at this time – envisions making almost $150 million in revenue every year from its operations.

Iceland and Sweden provide commercial kilowatt-per-hour electricity prices; below the European average. In addition to that, these are comparatively temperate nations, which could help in keeping mining equipment imperturbable.

Even with being a cryptocurrency mining start-up, HIVE Blockchain has already turned a revenue in its latest reported quarter. Certainly, the $149,724 in revenue was insignificant and resulted in $0.00 in returns per-share. It seems like HIVE could make over 10 times – each quarter when completely ramped up.

HIVE Blockchain isn’t specifically selling all of the tokens that it is mining. It does hang on to few of these coins, hoping they will appreciate in value. Consequently, HIVE directly allows an investor to access crypto mining margins, along with the movement in a trickle of some reputable digital currencies. However, some risks are also included.

Risks

  • As long as the business is totally devoted to cryptocurrency mining and lacks sales diversity, investors must know that if virtual currency prices drop significantly, their investment in HIVE could also drop.
  • Also, if you want to raise capital, it won’t be astonishing if HIVE Blockchain dilutes current investors through “bought-deal offerings.”

These are some risks that stock investors must have to endure; especially if they want to directly access a publicly-traded crypto mining stock.

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Bitcoin mining hardware

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Is the bitcoin mining being really profitable? Some of this technology users say yes, it is profitable. Whereas, bitcoin mining is a difficult task while you are competing against Chinese miners. As the year 2016 was the best for mining described by the stakeholders. While mining of the bitcoin become difficult after a second halving event. Whereas, reward on mining of one block decline from 25 to 12.5 BTC.

You need more efficient mining hardware if you want to compete and continue with bitcoin mining process. Few of the mining hardware are given below,

Ant miner S5

This is the cheapest miner often known as the entry-level miner. Users of this device are fully satisfied with it. But the block reward is decreasing now. You are not able to generate 0.05 coins in revenues. In addition, to get full BTC, miners have to operate one year and eight months.

 

Bitcoin mining hardware

Ant miner S7

You have the ability to produce 0.15 bitcoin with ant miner S7 to become a leader. While, If the currency value continually growing up, it will be the very good investment. This device is better for the early adopter of the technology. Whereas, it is not enough strong to produce a large number of bitcoin.

 

Bitcoin mining hardware

Avalon 6

Avalon 6 is same as s5 and s7 with little changes. While the users of this technology are fully satisfied with it. Miners mostly select s7 instead of Avalon 6 because of it is $100 more expensive than s7. This software has the capacity to earn 0.12 bitcoin per month.

Bitcoin mining hardware

Ant miner R4

This mining machine is specially designed to mine bitcoin at home as a hobby. It has the ability to compete with s7. In addition, the upside of this hardware is cooling machine. Furthermore, it is quite compared to the other bitcoin miners. You can break even with this device within a year. Whereas, it involves the risky investments. And miners become outdated after six to nine month. ROI only produce in case of currency values continually increases.

 

Bitcoin mining hardware

Avalon 7

Bitcoin mining hardware

Avalon introduce the most recent mining device Avalon 7 or 721. It is quite cheap as compared to the modern mining hardware devices. In addition, with entry-level mining, miners can break even within two years.

Ant miner S9

It is basically a cream of the crop. In addition, with the capacity to mine 3 or 4 times more BTC, it is five-time expensive. This device uses electricity more efficiently because it provides the profit at a short time period.

Accordingly, this device is new in the market is the most sophisticated rig. Antminer has the capacity to mine 0.5 coin monthly in which extra expenses are not included. Whereas, with the greater hashing power Antminer S9 work efficiently.

Bitcoin mining hardware

Bitmain manufacturer

A top maker of the Application Specific Integrated Circuit hardware (ASIC) Bitmain is easily available for the public in a market. S9 is the latest model in the market. Whereas, its chip is smaller than the others mining hardware but is more efficient in working.

Accordingly, miners will be able to break even within the year.

Bitcoin mining hardware

Bitcoin mining hardware

Upcoming mining hardware

Following are some mining hardware with efficient mining capacity.

Fast- hash one

Fast- hash one series is including silver edition, gold edition, platinum edition means three model machine is in one setup. Machines come with the same module. And has a capacity to up-grated up to six.

EditionsStartTops outProduce bitcoin
Silver edition64GH/s384GH/s0.2 up to 0.85 bitcoin per day
Gold edition128GH/s768GH/sSame as above
Platinum edition256GH/s1.536 TH/sSame as above

 

Gold and platinum editions support up to six expansion cases. Whereas, silver does not support this sort of cases. These miners are available for pre-order and each extension contains 16 modules.

The price of this fast-hash one is $2499- $5999.

Bitcoin mining hardware

CoinTerra and TerraMiner IV

CoinTerra and TerraMiner IV is bitcoin mining machine. Which is drove by CoinTerra’s own in-house ASIC chips, Goldstrike I. In addition, TerraMiner with 4U power supply is built on 28nm process.

Specifications

This miner contains 4 ASIC chips with the hash rate of 500 GH/s. Accordingly, CoinTerra IV has the total hash rate of 2TH/s. Furthermore, a price of $ 5999, CoinTerra translate to just over 1.1 bitcoin per day.

 

 

Bitcoin mining hardware

Hashfast Sierra

Hashfast sierra is an efficient performance mining machine. It is basically built into 4U mountable case with two seansonic power supplies. Sierra has the hash rate of 1.2 TH/s means 0.66 bitcoin per day. This miner does not have an on-boarder controller. So, you have to connect through a USB. This main control is everything that will run CGminer, a mining software. Hashfast sierra with a cost of $6300 is available.

Bitcoin mining hardware

Black arrow Prospero X-3

Black arrow X-3 is presented by 20 black arrow minion ASIC chips. The ASIC built on 28 nm processor and are in-house design. The 20 Minion ASIC chips in the Prospero X-3 give it a hash rate of 2TH/s, good for about 1.1 Bitcoins per day as of the time of writing. The Prospero X-3 has been designed with up to 20% under- and overclocks in mind. It also supports the lightweight Stratum mining protocol.

The Prospero X-3 is available for pre-order and is scheduled to be available at the end of February 2014.

The price of this mining hardware is $6999.

 

 

Bitcoin mining hardware

KnCMiner Neptune

Bitcoin mining hardware

This miner is quite possibly the granddaddy of all Bitcoin mining machines. Whereas, it is basically four modular 20nm ASIC boards, designed so that the machine will continue mining even if one (or more) of the boards fails. Accordingly, it follows up from their previous miner, the Jupiter, which was built on a 28nm process.

The Neptune has a minimum hashing speed of 3TH/s, which translates to about 1.66 Bitcoins a day. This is a vast improvement on the Jupiter, which was only able to mine 0.6 Bitcoins a day. KnCMiner also mentions that they have the right to increase the speeds as it nears shipment, so the Neptune might end up being even faster once it gets into miners’ hands.

The KnCMiner Neptune is currently available for pre-order and is scheduled to begin shipping in Q1/Q2 of 2014, limited to 1200 units.

The price of this mining machine is $12,995.

Good luck!

 

 

 

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PayPal vs Bitcoin: Why has PayPal Filed a Patent?

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On 5th March, it’s been reported that a patent has been filed by PayPal in order to speed up cryptocurrency transactions by eradicating the confirmation period of payments. However, it’s been claimed by many Bitcoin experts that this is already possible through the current technologies in the cryptocurrency industry.

Basically, the main purpose of PayPal patent is to improve the whole procedure of settling cryptocurrency payments between both buyers and traders on retail or e-commerce platforms. To avert each transaction from being broadcasted to the public Blockchain, users’ secondary wallets will let the unique private keys of both buyers and sellers to be transferred privately.

bitcoin patent

The PayPal patent read;

“In order to be sure that the Bitcoin transaction will ultimately result in a transfer of Bitcoins to the payee, the payee must wait until the mining process confirms the transaction before transferring goods and/or services to the payer. In many transaction situations, a 10-minute wait time will be too long for payers and/or payees, and those payers and/or payees will instead choose to perform the transaction using traditional payment methods rather than virtual currency. Issues like this have slowed the adoption of virtual currencies despite their advantages.”

What’s Peter Todd’s Response?

According to a Bitcoin developer, Peter Todd, PayPal is attempting to patent a technology that is already present in the cryptocurrency industry. In 2016, Opendime was created by a former Bitcoin marketplace “Coinkite”, and is a hardware Bitcoin wallet with multi-signature bank-grade security. It lets users transfer Bitcoin with inner private keys, allowing them to utilize Bitcoin like fiat money, such as the US dollar.   However, compared to Ledger and Trezor, Opendime structurally differs from other hardware wallets as it cannot be reused. Opendime is basically a USB stick as it can only be used once and has to be destroyed to use the funds that are stored inside, which allows it to be used as cash.

PayPal’s technology encourages its users to transfer the whole wallet or private key linked with a predefined amount of a cryptocurrency and the procedure of transferring bitcoin payments through Opendime, which is just like PayPal.

The patent explains:

“The systems and methods of the present disclosure practically eliminate the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction by transferring to the payee private keys that are included in virtual currency wallets that are associated with predefined amounts of virtual currency that equal a payment amount identified in the virtual currency transaction.”

Is It Really Possible for PayPal’s Technology to Improve Cryptocurrency Payments?

PayPal’s technology could let the cryptocurrency payments to be processed between both buyers and traders quickly by eradicating hefty transaction fees only if it’s executed at large commercial scale.

Yeogieottae, which is a major hotel booking platform in South Korea has recently partnered with the country’s largest cryptocurrency exchange, Bithumb, to allow cryptocurrency payments. Even in Japan, the biggest sellers have started to accept Bitcoin payments for a while.

However, on the other hand, a problem could occur while transferring private keys if the settlement occurs in a centralized manner. PayPal patent clearly explained that for carrying out the process of settling payment, it could depend on a payment service provider device as it could lead to a centralized system, managing the transfer of private keys.

Owen Williams revealed the findings of GDPR last week, which disclosed that PayPal shared complex financial information of its consumers with over 600 entities. The centralization of cryptocurrency payments and private keys could direct to susceptibilities and data selling if this technology by PayPal’s can exploit non-custodial wallets and allow both users and traders to endure in full control of their private keys during the whole process.

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