It was in 2014 when Moscow’s Mayor, Sergei Sobyanin launched an innovative Active Citizen app. This app was actually an e-voting platform designed solely for the residents of Moscow to vote on municipal projects pertaining to non-political city decisions, e.g.; naming of subway stations, setting up speed limits, plotting of bus routes, replacing the building’s entrance door or even hiring a new management company etc.
The Active Citizen app was a huge success since its launch, more than 2,800 polls were being administered and over 2 million users participated via the app. But according to some critics this app grew vulnerable to manipulation with the passage of time.
That’s why, Moscow officials announced that they have piloted the Active Citizen onto the blockchain technology in order to minimize the vulnerability issue.
Usually, the term of blockchain is referred to the cryptocurrency transactions. It is a sort of a digitalized and decentralized online database pertaining to public ledger of crypto transactions and interactions. Though specific for tracking secure financial transactions of cryptocurrency, it will now also be used in the e-voting platform of Moscow.
What makes it a safest choice?
Russia’s National Settlement Depository (NSD) has successfully tested this blockchain based e-proxy voting system. This voting system is comprised of the following steps:
- In the first step a Bondholder will pass vote to a nominal bondholder (NB)
- The Nominal bondholder will in turn submit that vote to the blockchain
- The designated Counting commission will count the votes and submit their results to the blockchain
- Bondholder can latter verify whether the votes were counted correctly or not.
Hence it can be easily concluded that the process of blockchain based e-voting will resemble the secure crypto transactions to a great extent. Once the vote will be placed, it will be listed in a ledger consisting all the votes taken place across a node-to-node fully secure network. So, there will be no chance of data loss, fraud or third-party alteration once the vote has been casted.
In other words, blockchain is becoming a hallmark of digital accountability and security. It comprises of such a complicated mechanism of digitized security that it is almost impossible for the general public to ‘’hack’’ it in their traditional way.
According to some experts the use of blockchain technology will improve the transparency of e-voting system in Moscow and it should also be tried in the general elections as well.
Bitcoin is a cryptocurrency without any delegates or banks required to direct transactions. It was built as open-source software in 2009 by an individual or a group referred to as Satoshi Nakamoto with the idea to limit transaction costs and deregulate money. There are many ways of buying Bitcoin. Here we are going to discuss the easiest way to buy Bitcoin.
Buy Bitcoin Through Wallets:
The easiest way to buy bitcoins is through digital wallets. CoinBase is the most renowned wallet. All you need to use this wallet is sign up for an account and link your bank account.
The reason why it is considered the easiest way to get bitcoins is because it allows the option of buying bitcoin through Visa and Master Card.
Other Ways to Purchase Bitcoin:
Another fastest way to buy Bitcoin is buying it through local bitcoins. Here you go to localbitcoins.com and setup a meetup with a local Bitcoin seller in your area. Make sure that the meetup is kept at a public area or somewhere you are completely familiar with. Local Bitcoin deals have a history of taking unpleasant turns so you must take every precaution before making the transaction.
Bitcoin faucets are also considered the fastest way to buy bitcoins. Bitcoin faucets are programs that are designed to distribute bitcoins in fractions to the visitors to claim. There is a time interval between each Bitcoin batch that is released and the visitors must wait through it.
Bitcoin Price Analysis:
Bitcoin reaches the heights of its value. Because its value is zooming up to $1700. The price of coins may vary from time to time. At this time, bitcoin is enjoying the rise of its value.
Over the past week, block size and scalability debate were taking back seat and have a look to value’s variation. According to the users perspective, the rise in value is due to the heavy traffic of transactions and busy network.
On 5 may 2017, a number of unconfirmed transactions hit the ATH at 140,000. Actually, this is not the right way you are analyzing the values. No doubt, there may be a large number of scams behind transactions. Prices and premiums between the various USD exchanges have been fluctuating wildly, with GDAX and Bitfinex often leading in price.
Bitcoin Price History:
GBTC, an over-the-counter, an American financial market is using a BTC plagiaristic to the public. Yesterday, which hit the ATH of $2,000 We expect the premium if COIN FTE gets approved.
In price estimation mode, it is really hard to estimate targets and true resistance in price. Accordingly, the price target of $4000 isn’t impossible. A few weeks ago, it hits the measuring target of $1575.
A slightly modified pitchfork yields targets around $1,800–2,000, with price recently breaking the resistance diagonal rather cleanly.
Similar to the structure of January 2017 and November 2015, the Heikin-Ashi chart represents the price fluctuations of bitcoin.
The transaction will continue to plague bitcoin when mostly new users and traders join the bitcoin network. By using suitable fee, avoid from the stock transactions. Trading and investing in a digital world is much risky. This above analysis of price is for information and for advice as well. Therefore, these data or figure can be different on other sites. The reason is, the price fluctuates.
Tags: Bitcoin technical analysis.
Gatecoin is a Hong Kong based cryptocurrency exchange that claims Bitcoin’s price is to reach $5000 by the end of 2017.
Headlined “Bloomberg Daybreak: Asia,” this price prediction was made during an interview with Aurelien Menant, Gatecoin’s CEO, and founder. He said that the markets are responsible for driving increased interest in Bitcoin.
“Another factor that is very important is the arrival of more and more institutional investors in bitcoin,” Menant said. “Historically we used to have a few hatch funds trading bitcoin in Europe and the U.S. Now we have around 60 or 70 of them that are starting to trade bitcoin.”
Some funds are now dedicated to digital currencies. “So, this is definitely driving a surge in the price,” he said.
News Credits: coindesk.com
Image Credits: steemit.com
In five years’ time, fiat is no longer going to be of any use Bitcoin and other cryptocurrencies replace it. That is according to one of the renowned Bitcoin millionaires and venture capital investor Tim Draper who was talking with Forbes at the WebSummit conference in Lisbon.
Communicating his perspectives on where he sees the crypto market, he stated:
“People will laugh at you if you are still using fiat in 5 years. cryptocurrencies, Bitcoin particularly will become so relevant that fiat will be no longer of any use.”
This is clear by the fact that he acquired 30,000 bitcoins amid a government auction of assets seized from a darknet market Silk Road in 2014. At the time, those coins were worth $20 million. Today, they are esteemed at over $214 million.
Bitcoin has gained unprecedented highs in 2017. Over the last couple of weeks, the money has surged to above $7,000. It was within touching distance of $8,000 at the news that the SegWit2x had been suspended.
Staying positive about the fate of digital money, Draper trusts that the fiat framework will, in the long run, vanish as individuals look toward coins like Bitcoin or Ethereum. As indicated by him, they remain reliable stores of significant worth compared to fiat. His thinking behind this is that fiat monetary standards are bound by national borders. For instance, he refers to the Nigerian Naira, which drops 30 percent when a man crosses the border.
While this might be the situation, there are countless altcoins in the cryptocurrency market. CoinMarketCap puts that figure at 986 which have a market esteem. New ones are continuously being made, which are all claiming to give another answer for out daily life payment solutions. Regardless of this, however, the extensive number of digital money in the market isn’t stressing Draper. Actually, he conceives that they will inevitably all cooperate at some stage.
They’re all going to interrelate … and there will be trade rates for every one of them. My figure is that it will unify around a wallet that you have, and when you pay for that Starbucks, your wallet will advance to whichever cash has the most value.
It remains to be checked whether and when that happens, however from somebody who has been involved in cryptocurrency trading and has led interests in prosperous organizations, for example, Twitter, Skype, and Tesla, Draper might be on to something.