A cryptocurrency wallet stores public and private keys that are used to send and receive cryptocurrency. There are software wallets, which run on computers, phones, or online, and hardware wallets that store private keys on a physical device. Key terms include public and private keys, keystore files, and mnemonic phrases. Wallets allow people to send coins to your public address, which are recorded on the blockchain when the private keys match.
Decentralized finance is a distributed financial system where there is no centralized governing body. Decentralized finance or DeFi applications utilize peer-to-peer finance networks. These networks are powered by decentralized and distributed platforms. The DeFi application ecosystem is vast and it includes various types of apps such as wallets, lending platforms, infrastructure development suits etc.
As there are many DeFi applications on the market, finding the top applications can be a difficult process. Here, we will discuss the top 5 DeFi applications – AAVE, Compound, MakerDAO, Synthetix, and MetaMask.
These are some of the widely utilized applications on the market. If you want to learn more about decentralized finance applications, then we have you covered. 101 blockchains feature a blockchain course that focuses on decentralized finance and will help you understand the working mechanism of this new financial structure.
Learn more about the course from here ->
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Learn about additional courses and masterclasses for the finance sector ->
Blockchain in Finance Masterclass
https://academy.101blockchains.com/courses/blockchain-in-finance
Central Bank Digital Currency (CBDC) Masterclass
https://academy.101blockchains.com/courses/central-bank-digital-currency
Enterprise Blockchains and Trade Finance Course
https://academy.101blockchains.com/courses/enterprise-blockchains-and-trade-finance
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/decentralized-finance-applications/
https://101blockchains.com/top-defi-protocols/
https://101blockchains.com/top-defi-wallets/
https://101blockchains.com/best-defi-asset-management-tools/
https://101blockchains.com/decentralized-finance-tools/
NFTs - Common Use Cases and Legal Considerations (Japan)Joerg Schmidt
The presentation outlines common use cases for NFTs, including digital art, collectibles, blockchain games, and IP management. Legal and regulatory considerations can be found on the last few slides.
Blockchain technology is a distributed ledger platform that provides open and transparent transaction information with integrity and non-repudiation based on modern cryptography. It is also the technology behind many cryptocurrencies. This presentation will give fundamental knowledge on how blockchain works, its cryptography implementation, cryptocurrency definition and related terms and also blockchain use cases.
Skye Wallet is a cryptocurrency wallet and exchange launched in April 2021 that aims to simplify cryptocurrency activities. It allows users to buy, sell, send, receive, swap, hold, spend and learn about cryptocurrencies with one-click access across web and app platforms. The startup is seeking $100,000 in funding to boost liquidity, marketing, hiring and operations to further grow in emerging markets where cryptocurrency usage and education is currently limited but growing. The founder emphasizes Skye Wallet's multiple supported cryptocurrencies, infrastructure to integrate new coins/tokens, 24/7 support and low fees as advantages in the competitive landscape.
What are crypto wallets? How different are they from exchanges? What is their job to be done? where are they weak? What is the potential and future they hold
Brought to you by @ZenGo
An Investor's Guide to Web3 / Crypto / BlockchainBernard Leong
Bernard Leong provided a masterclass on investing in web3. He discussed his own journey in crypto from 2008 to present. He covered the basics of blockchain, different layers and applications. Leong outlined tools for due diligence like Etherscan and Nansen AI. He explained financing models for web3 startups and factors to consider like tokenomics, go-to-market strategies, and regulatory risks. Finally, Leong proposed a model for a $1M web3 angel fund focusing on DeFi, gaming, and SaaS with a mix of angel investing and trading strategies.
A cryptocurrency wallet stores public and private keys that are used to send and receive cryptocurrency. There are software wallets, which run on computers, phones, or online, and hardware wallets that store private keys on a physical device. Key terms include public and private keys, keystore files, and mnemonic phrases. Wallets allow people to send coins to your public address, which are recorded on the blockchain when the private keys match.
Decentralized finance is a distributed financial system where there is no centralized governing body. Decentralized finance or DeFi applications utilize peer-to-peer finance networks. These networks are powered by decentralized and distributed platforms. The DeFi application ecosystem is vast and it includes various types of apps such as wallets, lending platforms, infrastructure development suits etc.
As there are many DeFi applications on the market, finding the top applications can be a difficult process. Here, we will discuss the top 5 DeFi applications – AAVE, Compound, MakerDAO, Synthetix, and MetaMask.
These are some of the widely utilized applications on the market. If you want to learn more about decentralized finance applications, then we have you covered. 101 blockchains feature a blockchain course that focuses on decentralized finance and will help you understand the working mechanism of this new financial structure.
Learn more about the course from here ->
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Learn about additional courses and masterclasses for the finance sector ->
Blockchain in Finance Masterclass
https://academy.101blockchains.com/courses/blockchain-in-finance
Central Bank Digital Currency (CBDC) Masterclass
https://academy.101blockchains.com/courses/central-bank-digital-currency
Enterprise Blockchains and Trade Finance Course
https://academy.101blockchains.com/courses/enterprise-blockchains-and-trade-finance
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/decentralized-finance-applications/
https://101blockchains.com/top-defi-protocols/
https://101blockchains.com/top-defi-wallets/
https://101blockchains.com/best-defi-asset-management-tools/
https://101blockchains.com/decentralized-finance-tools/
NFTs - Common Use Cases and Legal Considerations (Japan)Joerg Schmidt
The presentation outlines common use cases for NFTs, including digital art, collectibles, blockchain games, and IP management. Legal and regulatory considerations can be found on the last few slides.
Blockchain technology is a distributed ledger platform that provides open and transparent transaction information with integrity and non-repudiation based on modern cryptography. It is also the technology behind many cryptocurrencies. This presentation will give fundamental knowledge on how blockchain works, its cryptography implementation, cryptocurrency definition and related terms and also blockchain use cases.
Skye Wallet is a cryptocurrency wallet and exchange launched in April 2021 that aims to simplify cryptocurrency activities. It allows users to buy, sell, send, receive, swap, hold, spend and learn about cryptocurrencies with one-click access across web and app platforms. The startup is seeking $100,000 in funding to boost liquidity, marketing, hiring and operations to further grow in emerging markets where cryptocurrency usage and education is currently limited but growing. The founder emphasizes Skye Wallet's multiple supported cryptocurrencies, infrastructure to integrate new coins/tokens, 24/7 support and low fees as advantages in the competitive landscape.
What are crypto wallets? How different are they from exchanges? What is their job to be done? where are they weak? What is the potential and future they hold
Brought to you by @ZenGo
An Investor's Guide to Web3 / Crypto / BlockchainBernard Leong
Bernard Leong provided a masterclass on investing in web3. He discussed his own journey in crypto from 2008 to present. He covered the basics of blockchain, different layers and applications. Leong outlined tools for due diligence like Etherscan and Nansen AI. He explained financing models for web3 startups and factors to consider like tokenomics, go-to-market strategies, and regulatory risks. Finally, Leong proposed a model for a $1M web3 angel fund focusing on DeFi, gaming, and SaaS with a mix of angel investing and trading strategies.
Blockchain data structures and fundamentalCodium Club
The blockchain is a growing list of records called blocks which are linked using cryptography. So, here's a small introductory presentation to describe the basic fundamentals and data structure of the blockchain.
Blockchain is a tool. Samson Williams likens blockchain to a group text message, in which each participant receives a distributed, time-stamped, tamper-resistant (and encrypted) record of data transactions. Each group text has these characteristics. Everyone in the group “sees” the data, and none can change or gainsay any group message. Smart contracts are computer code put on the blockchain (how, exactly?) that establishes self-executing terms and conditions of a transaction. Are smart contracts smart? If certain data comes in and fulfills a pre-set term or condition, then rights and responsibilities are formed, terminated, modified, or shifted among the parties. Ah certainty and transparency, but also ah garbage in and garbage out. Are some contractual terms not amenable to smart contracting? And are smart contracts necessarily contracts? If not, can they still be useful? If a smart contract is a contract, what is the governing document? Is it the words business people and lawyers use, or is it the code that is supposed to reflect the words?
Part of the webinar series: Blockchain Basics 2022
See more at https://www.financialpoise.com/webinars/
Non-fungible tokens (NFTs) are unique digital assets that are verified on a blockchain network, allowing for the creation and ownership of one-of-a-kind digital items, such as artwork, music, videos, and other types of digital content. They are important because they provide a way for digital creators to monetize their work and establish ownership, scarcity, and authenticity of their creations. NFTs have also gained popularity as a form of investment and collectible item, with some NFTs selling for millions of dollars.
This slide deck includes the following sections:
Introduction: Provide a brief overview of what NFTs are and their significance in the digital world.
How NFTs work: Explain the process of creating and verifying NFTs on a blockchain network, including the use of smart contracts and cryptographic hashing.
Types of NFTs: Describe the various types of NFTs that can be created, such as digital artwork, music, videos, and other types of digital content.
Benefits of NFTs: Highlight the benefits of NFTs, including the ability to establish ownership, scarcity, and authenticity of digital assets, as well as their potential as a new source of revenue for creators.
Market trends: Provide an overview of the current state of the NFT market, including recent sales and trends in various industries, such as art, sports, and gaming.
Potential use cases: Discuss potential use cases for NFTs beyond the current market, such as in the areas of identity verification, supply chain management, and digital voting.
Challenges and risks: Acknowledge the challenges and risks associated with NFTs, such as environmental concerns related to blockchain networks and the potential for fraudulent activity.
Conclusion: Summarize the key takeaways of the presentation and emphasize the growing importance of NFTs in the digital world.
Consensus algorithms are an extremely crucial part of blockchain technology. Proof of Work is a type of consensus mechanism where users use their computational devices to solve complex mathematical problems in order to verify and add blocks to the ledger system. On the other hand, in Proof of Stake users will need to stake their coins in order to participate in the verification process.
The difference between the two types of consensus protocol lies within the working mechanism of these two processes. Verification mechanism, incentive policy, vulnerability, motivation, requirement, and scalability are some of the areas where these two differ.
To help you better understand the differences between these two consensus protocols, 101 Blockchain offer an array of lucrative blockchain courses. These courses will help you comprehend the working principles of these two algorithms.
The following courses will help you learn about PoW and PoS->
Blockchain Like a Boss Masterclass
https://academy.101blockchains.com/courses/blockchain-masterclass
Getting Started with Bitcoin Technology
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/pow-vs-pos-a-comparison/
Smart Contracts are a central component to next-generation blockchain platforms. Blockchain technology is much broader than just bitcoin. The sustained levels of robust security achieved by public cryptocurrencies have demonstrated to the world that this new wave of blockchain technologies can provide efficiencies and intangible technological benefits very similar to what the internet has done.
Blockchains are a very powerful technology, capable of going much further than only "simple" financial transaction; a technology capable of performing complex operations, capable of understanding much more than just how many bitcoins one currently has in his digital wallet.
This is where the idea of Smart Contracts come in. Smart Contracts are in the process of becoming a cornerstone for enterprise blockchain applications and will likely become one of the pillars of blockchain technology.
In this presentation, we will explore what a smart contract is, how it works, and how it is being used.
This document provides an introduction to decentralised exchanges (DEX). It begins by defining centralised exchanges and issues with them like security risks and high fees. It then defines DEX as peer-to-peer exchanges that occur directly between users without a third party, allowing users to control their own funds. Key benefits of DEX include lower fees and security, while issues include difficulty of use and low liquidity. Examples of DEX architectures and workflows are provided, as well as examples of specific DEX like 0x, Kyber, and AirSwap. The document concludes with a thank you and invitation for questions.
Welcome to our channel,
A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions,
control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. This channel was created to share news and opportunities related to crypto space.
Check our website: https://www.everythingcrypto.club/
Join our private channel group: http://bit.ly/2YoWzFr
Follow us on social media :
Youtube : https://bit.ly/3bkoeiE
Instagram: https://www.instagram.com/everythingincrypto
Telegram : https://t.me/everythingincrypto
vkontakte : https://vk.com/public184024328
Twitter : https://twitter.com/everythingcryp5
Medium : https://medium.com/everythingincrypto
Linkedin: https://www.linkedin.com/company/everythingcrypto
what's cryptocurrency all about?
What's cryptocurrency?
What does cryptocurrency mean?
What does crypto mean?
#everythingcrypto #whatscryptocurrency #cryptocurrency #bitcoin #crypto #ethereum #freecrypto #freebitcoin #earnfreetoken #earnfreebitcoin
Crypto wallets are a type of digital wallet specifically used for storing digital currencies. These are basically applications that can help you access blockchain platforms and help you retrieve and use your crypto assets.
There are usually two types of crypto wallets - Hot Wallets and Cold Wallets. Hot wallets are a type of crypto wallets that are always connected to the internet. This type of wallet is less secured than a Cold wallet. Cold wallets are a type of crypto wallets that are offline. Typically, they serve as vaults for your important documents and assets.
You need to choose a type of wallet based on your needs. However, to fully understand how this works, you have to learn about the underlying working process of the wallets. Here, 101 Blockchains can greatly help you out. We have courses that will specifically target your needs and help you understand the mechanism behind blockchain technology-based wallets.
Learn more about the cryptocurrency from these courses ->
Stablecoin Fundamentals Masterclass
https://academy.101blockchains.com/courses/stablecoin-masterclass
Getting Started with Bitcoin Technology Course
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/crypto-wallet-list/
https://101blockchains.com/types-of-crypto-wallets/
https://101blockchains.com/crypto-wallets/
https://101blockchains.com/paper-wallets/
https://101blockchains.com/software-wallet/
https://101blockchains.com/hot-wallet-vs-cold-wallet/
https://101blockchains.com/best-hardware-wallets/
https://101blockchains.com/blockchain-wallet/
https://101blockchains.com/best-nft-wallets/
https://101blockchains.com/top-defi-wallets/
This document provides an overview of the Ethereum blockchain platform and smart contracts. It discusses what Ethereum is, how it works, and its key components. The document covers Ethereum wallets, transactions, tokens, and the Solidity programming language for building smart contracts. It provides information on running Ethereum nodes, clients, and testnets. The document serves as training material for a blockchain specialist program.
The document provides an overview of algorithmic trading, including definitions, common components, and considerations for developing algorithmic trading strategies. It discusses the basic schema for algorithmic trading, including acquiring market data, analyzing the data, establishing conditions to trigger trades, and executing trades. It also covers related topics like risk management, portfolio management, data handling, and post-trade analysis. Additionally, it discusses different types of algorithmic trading strategies and considerations for backtesting strategies.
Is cryptocurrency really the future of money? Bitcoin is the first and most famous cryptocurrency that exploded in late 2013 when the price per Bitcoin exceeded $1200. This is an explanation of what cryptocurrency is and how payments are processed
Tokenomics refers to the economics of blockchain-based tokens and cryptocurrencies. It involves determining parameters for initial coin offerings (ICOs) like the total number of tokens and allocation percentages. Key considerations include incentivizing token value appreciation and controlling inflation/volatility. A good tokenomics model provides protection from speculation while establishing the right incentive structures to support the business model and usability. Agent-based modeling can help evaluate different tokenomic designs by simulating user and business behaviors.
Blockchain Training | Blockchain Tutorial for Beginners | Blockchain Technolo...Edureka!
This Edureka Blockchain training will give you a fundamental understanding regrading Blockchain and Bitcoin.
This session will help you learn following topics:
1. Current Existing Monetary System
2. How can Blockchain and Bitcoin help?
3. What is Blockchain?
4. Blockchain concepts
5. Bitcoin Transaction
6. Blockchain features
7. Blockchain Use Case
8. Demo: Bitcoin Transaction
Ethereum is an open software platform based on blockchain technology that enables developers to
build and deploy decentralized applications.
Ethereum is a distributed public blockchain network.
While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum
blockchain focuses on running the programming code of any decentralized application.
Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be
transferred between accounts and used to compensate participant mining nodes for computations
performed.
Everyone wants a better and secure career. As blockchain is now taking over the world, many companies are offering a secured and luxurious career for skilled blockchain engineers. Blockchain is a new type of technology, and there's a lot of opportunity in this field for developing a good career.
Blockchain engineer jobs demand the best of the best experts. They are expected to possess specialized skillsets. These Blockchain engineer skills mainly include knowledge about blockchain basics, blockchain architecture, data structures, cryptography, web development, and so on.
With proper skills, a blockchain engineer's salary can go up to 190k every year! However, completing a course dedicated to blockchain engineers can help in showcasing your skillsets.
This is where 101 Blockchains come into play —101 Blockchain stive to offer educative professionals courses and training specifically for engineers. If you want to become a blockchain engineer, getting a certification from 101 Blockchains can jump-start the process.
Our certification courses are ->
Our Certified Enterprise Blockchain Professional (CEBP)
https://academy.101blockchains.com/courses/blockchain-expert-certification
Our Certified Enterprise Blockchain Architect (CEBA)
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE)
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Our other courses can help you become the ultimate expert on blockchain. These are ->
How to Build Your Career in Enterprise Blockchains
https://academy.101blockchains.com/courses/career-in-blockchain
Getting Started with Hyperledger Fabric Course
https://academy.101blockchains.com/courses/getting-started-with-hyperledger-fabric/
Beginner's Guide to Corda Development Course
https://academy.101blockchains.com/courses/beginners-guide-to-corda-development
Ethereum Development Fundamentals Course
https://academy.101blockchains.com/courses/ethereum-development-fundamentals
Decentralization and why blockchain matters (YPO)Animoca Brands
This document discusses decentralization and the importance of blockchain technology. It notes that open source software revolutionized the software industry by providing an alternative to closed source software monopolies. Blockchain allows for further decentralization by facilitating trust and transparency without centralized intermediaries. This can help address issues like censorship, fake news, lack of data ownership, and wealth inequality. Blockchains enable new applications around digital ownership and value through technologies like smart contracts, decentralized finance, and non-fungible tokens. The gaming industry in particular is seeing huge growth in blockchain-based games that facilitate real player economies.
The document discusses how the COVID-19 pandemic accelerated existing technology trends and digital transformation. It provides examples of how technologies like video conferencing, gaming, and e-commerce grew substantially during the pandemic. It also discusses longer term impacts, such as a potential reduction in office space needs and a shift towards more remote work due to experiences during the pandemic. Emerging technologies like blockchain are discussed as enabling new applications and business models around digital ownership and cross-platform interoperability of assets.
The Shihtzu Exchange is developing an NFT minting and metaverse ecosystem centered around the $STZU token. This includes launching a meme token, decentralized exchange, wallet, NFT marketplace, centralized exchange, and metaverse gaming platform. The goal is to build utility for the $STZU token and community within gaming, collectibles, and the metaverse.
Cryptocurrency is a digital currency that uses cryptography for security. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Other major cryptocurrencies include Litecoin, Peercoin, and Namecoin. Cryptocurrencies operate on blockchain technology, which records all transactions in a public ledger that is shared across a network of users. Users can mine new coins by solving complex math problems. While cryptocurrencies offer benefits like low transaction fees and decentralization, they also face challenges around volatility and acceptance. The future of cryptocurrencies is uncertain but they may play a larger role in global trade.
Blockchain data structures and fundamentalCodium Club
The blockchain is a growing list of records called blocks which are linked using cryptography. So, here's a small introductory presentation to describe the basic fundamentals and data structure of the blockchain.
Blockchain is a tool. Samson Williams likens blockchain to a group text message, in which each participant receives a distributed, time-stamped, tamper-resistant (and encrypted) record of data transactions. Each group text has these characteristics. Everyone in the group “sees” the data, and none can change or gainsay any group message. Smart contracts are computer code put on the blockchain (how, exactly?) that establishes self-executing terms and conditions of a transaction. Are smart contracts smart? If certain data comes in and fulfills a pre-set term or condition, then rights and responsibilities are formed, terminated, modified, or shifted among the parties. Ah certainty and transparency, but also ah garbage in and garbage out. Are some contractual terms not amenable to smart contracting? And are smart contracts necessarily contracts? If not, can they still be useful? If a smart contract is a contract, what is the governing document? Is it the words business people and lawyers use, or is it the code that is supposed to reflect the words?
Part of the webinar series: Blockchain Basics 2022
See more at https://www.financialpoise.com/webinars/
Non-fungible tokens (NFTs) are unique digital assets that are verified on a blockchain network, allowing for the creation and ownership of one-of-a-kind digital items, such as artwork, music, videos, and other types of digital content. They are important because they provide a way for digital creators to monetize their work and establish ownership, scarcity, and authenticity of their creations. NFTs have also gained popularity as a form of investment and collectible item, with some NFTs selling for millions of dollars.
This slide deck includes the following sections:
Introduction: Provide a brief overview of what NFTs are and their significance in the digital world.
How NFTs work: Explain the process of creating and verifying NFTs on a blockchain network, including the use of smart contracts and cryptographic hashing.
Types of NFTs: Describe the various types of NFTs that can be created, such as digital artwork, music, videos, and other types of digital content.
Benefits of NFTs: Highlight the benefits of NFTs, including the ability to establish ownership, scarcity, and authenticity of digital assets, as well as their potential as a new source of revenue for creators.
Market trends: Provide an overview of the current state of the NFT market, including recent sales and trends in various industries, such as art, sports, and gaming.
Potential use cases: Discuss potential use cases for NFTs beyond the current market, such as in the areas of identity verification, supply chain management, and digital voting.
Challenges and risks: Acknowledge the challenges and risks associated with NFTs, such as environmental concerns related to blockchain networks and the potential for fraudulent activity.
Conclusion: Summarize the key takeaways of the presentation and emphasize the growing importance of NFTs in the digital world.
Consensus algorithms are an extremely crucial part of blockchain technology. Proof of Work is a type of consensus mechanism where users use their computational devices to solve complex mathematical problems in order to verify and add blocks to the ledger system. On the other hand, in Proof of Stake users will need to stake their coins in order to participate in the verification process.
The difference between the two types of consensus protocol lies within the working mechanism of these two processes. Verification mechanism, incentive policy, vulnerability, motivation, requirement, and scalability are some of the areas where these two differ.
To help you better understand the differences between these two consensus protocols, 101 Blockchain offer an array of lucrative blockchain courses. These courses will help you comprehend the working principles of these two algorithms.
The following courses will help you learn about PoW and PoS->
Blockchain Like a Boss Masterclass
https://academy.101blockchains.com/courses/blockchain-masterclass
Getting Started with Bitcoin Technology
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/pow-vs-pos-a-comparison/
Smart Contracts are a central component to next-generation blockchain platforms. Blockchain technology is much broader than just bitcoin. The sustained levels of robust security achieved by public cryptocurrencies have demonstrated to the world that this new wave of blockchain technologies can provide efficiencies and intangible technological benefits very similar to what the internet has done.
Blockchains are a very powerful technology, capable of going much further than only "simple" financial transaction; a technology capable of performing complex operations, capable of understanding much more than just how many bitcoins one currently has in his digital wallet.
This is where the idea of Smart Contracts come in. Smart Contracts are in the process of becoming a cornerstone for enterprise blockchain applications and will likely become one of the pillars of blockchain technology.
In this presentation, we will explore what a smart contract is, how it works, and how it is being used.
This document provides an introduction to decentralised exchanges (DEX). It begins by defining centralised exchanges and issues with them like security risks and high fees. It then defines DEX as peer-to-peer exchanges that occur directly between users without a third party, allowing users to control their own funds. Key benefits of DEX include lower fees and security, while issues include difficulty of use and low liquidity. Examples of DEX architectures and workflows are provided, as well as examples of specific DEX like 0x, Kyber, and AirSwap. The document concludes with a thank you and invitation for questions.
Welcome to our channel,
A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions,
control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. This channel was created to share news and opportunities related to crypto space.
Check our website: https://www.everythingcrypto.club/
Join our private channel group: http://bit.ly/2YoWzFr
Follow us on social media :
Youtube : https://bit.ly/3bkoeiE
Instagram: https://www.instagram.com/everythingincrypto
Telegram : https://t.me/everythingincrypto
vkontakte : https://vk.com/public184024328
Twitter : https://twitter.com/everythingcryp5
Medium : https://medium.com/everythingincrypto
Linkedin: https://www.linkedin.com/company/everythingcrypto
what's cryptocurrency all about?
What's cryptocurrency?
What does cryptocurrency mean?
What does crypto mean?
#everythingcrypto #whatscryptocurrency #cryptocurrency #bitcoin #crypto #ethereum #freecrypto #freebitcoin #earnfreetoken #earnfreebitcoin
Crypto wallets are a type of digital wallet specifically used for storing digital currencies. These are basically applications that can help you access blockchain platforms and help you retrieve and use your crypto assets.
There are usually two types of crypto wallets - Hot Wallets and Cold Wallets. Hot wallets are a type of crypto wallets that are always connected to the internet. This type of wallet is less secured than a Cold wallet. Cold wallets are a type of crypto wallets that are offline. Typically, they serve as vaults for your important documents and assets.
You need to choose a type of wallet based on your needs. However, to fully understand how this works, you have to learn about the underlying working process of the wallets. Here, 101 Blockchains can greatly help you out. We have courses that will specifically target your needs and help you understand the mechanism behind blockchain technology-based wallets.
Learn more about the cryptocurrency from these courses ->
Stablecoin Fundamentals Masterclass
https://academy.101blockchains.com/courses/stablecoin-masterclass
Getting Started with Bitcoin Technology Course
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/crypto-wallet-list/
https://101blockchains.com/types-of-crypto-wallets/
https://101blockchains.com/crypto-wallets/
https://101blockchains.com/paper-wallets/
https://101blockchains.com/software-wallet/
https://101blockchains.com/hot-wallet-vs-cold-wallet/
https://101blockchains.com/best-hardware-wallets/
https://101blockchains.com/blockchain-wallet/
https://101blockchains.com/best-nft-wallets/
https://101blockchains.com/top-defi-wallets/
This document provides an overview of the Ethereum blockchain platform and smart contracts. It discusses what Ethereum is, how it works, and its key components. The document covers Ethereum wallets, transactions, tokens, and the Solidity programming language for building smart contracts. It provides information on running Ethereum nodes, clients, and testnets. The document serves as training material for a blockchain specialist program.
The document provides an overview of algorithmic trading, including definitions, common components, and considerations for developing algorithmic trading strategies. It discusses the basic schema for algorithmic trading, including acquiring market data, analyzing the data, establishing conditions to trigger trades, and executing trades. It also covers related topics like risk management, portfolio management, data handling, and post-trade analysis. Additionally, it discusses different types of algorithmic trading strategies and considerations for backtesting strategies.
Is cryptocurrency really the future of money? Bitcoin is the first and most famous cryptocurrency that exploded in late 2013 when the price per Bitcoin exceeded $1200. This is an explanation of what cryptocurrency is and how payments are processed
Tokenomics refers to the economics of blockchain-based tokens and cryptocurrencies. It involves determining parameters for initial coin offerings (ICOs) like the total number of tokens and allocation percentages. Key considerations include incentivizing token value appreciation and controlling inflation/volatility. A good tokenomics model provides protection from speculation while establishing the right incentive structures to support the business model and usability. Agent-based modeling can help evaluate different tokenomic designs by simulating user and business behaviors.
Blockchain Training | Blockchain Tutorial for Beginners | Blockchain Technolo...Edureka!
This Edureka Blockchain training will give you a fundamental understanding regrading Blockchain and Bitcoin.
This session will help you learn following topics:
1. Current Existing Monetary System
2. How can Blockchain and Bitcoin help?
3. What is Blockchain?
4. Blockchain concepts
5. Bitcoin Transaction
6. Blockchain features
7. Blockchain Use Case
8. Demo: Bitcoin Transaction
Ethereum is an open software platform based on blockchain technology that enables developers to
build and deploy decentralized applications.
Ethereum is a distributed public blockchain network.
While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum
blockchain focuses on running the programming code of any decentralized application.
Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be
transferred between accounts and used to compensate participant mining nodes for computations
performed.
Everyone wants a better and secure career. As blockchain is now taking over the world, many companies are offering a secured and luxurious career for skilled blockchain engineers. Blockchain is a new type of technology, and there's a lot of opportunity in this field for developing a good career.
Blockchain engineer jobs demand the best of the best experts. They are expected to possess specialized skillsets. These Blockchain engineer skills mainly include knowledge about blockchain basics, blockchain architecture, data structures, cryptography, web development, and so on.
With proper skills, a blockchain engineer's salary can go up to 190k every year! However, completing a course dedicated to blockchain engineers can help in showcasing your skillsets.
This is where 101 Blockchains come into play —101 Blockchain stive to offer educative professionals courses and training specifically for engineers. If you want to become a blockchain engineer, getting a certification from 101 Blockchains can jump-start the process.
Our certification courses are ->
Our Certified Enterprise Blockchain Professional (CEBP)
https://academy.101blockchains.com/courses/blockchain-expert-certification
Our Certified Enterprise Blockchain Architect (CEBA)
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE)
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Our other courses can help you become the ultimate expert on blockchain. These are ->
How to Build Your Career in Enterprise Blockchains
https://academy.101blockchains.com/courses/career-in-blockchain
Getting Started with Hyperledger Fabric Course
https://academy.101blockchains.com/courses/getting-started-with-hyperledger-fabric/
Beginner's Guide to Corda Development Course
https://academy.101blockchains.com/courses/beginners-guide-to-corda-development
Ethereum Development Fundamentals Course
https://academy.101blockchains.com/courses/ethereum-development-fundamentals
Decentralization and why blockchain matters (YPO)Animoca Brands
This document discusses decentralization and the importance of blockchain technology. It notes that open source software revolutionized the software industry by providing an alternative to closed source software monopolies. Blockchain allows for further decentralization by facilitating trust and transparency without centralized intermediaries. This can help address issues like censorship, fake news, lack of data ownership, and wealth inequality. Blockchains enable new applications around digital ownership and value through technologies like smart contracts, decentralized finance, and non-fungible tokens. The gaming industry in particular is seeing huge growth in blockchain-based games that facilitate real player economies.
The document discusses how the COVID-19 pandemic accelerated existing technology trends and digital transformation. It provides examples of how technologies like video conferencing, gaming, and e-commerce grew substantially during the pandemic. It also discusses longer term impacts, such as a potential reduction in office space needs and a shift towards more remote work due to experiences during the pandemic. Emerging technologies like blockchain are discussed as enabling new applications and business models around digital ownership and cross-platform interoperability of assets.
The Shihtzu Exchange is developing an NFT minting and metaverse ecosystem centered around the $STZU token. This includes launching a meme token, decentralized exchange, wallet, NFT marketplace, centralized exchange, and metaverse gaming platform. The goal is to build utility for the $STZU token and community within gaming, collectibles, and the metaverse.
Cryptocurrency is a digital currency that uses cryptography for security. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Other major cryptocurrencies include Litecoin, Peercoin, and Namecoin. Cryptocurrencies operate on blockchain technology, which records all transactions in a public ledger that is shared across a network of users. Users can mine new coins by solving complex math problems. While cryptocurrencies offer benefits like low transaction fees and decentralization, they also face challenges around volatility and acceptance. The future of cryptocurrencies is uncertain but they may play a larger role in global trade.
Smart Contracts - The Blockchain Beyond BitcoinJim McKeeth
A smart contract is a program that runs on the blockchain. This session is a technical look at the blockchain and smart contracts from a programmer's perspective. We will start with the basics of the blockchain and work our way up through the EVM and smart contract standards. Then we will discuss alternative blockchains and the options they provide. While smart contracts are the basis of NFTs and Distributed Finance (DiFi), this session's focus is on technology and will explore many potential uses, including an introduction to Solidity and other smart contract programming languages.
Presented at the Boise Software Developers Group on September 12th, 2023
Bitcoins: Application of blockchain technologyShiv Sahni
Shiv Sahni provides a concise summary of the origins and technical workings of Bitcoin:
- Bitcoin was first conceived in 2007 and the domain bitcoin.org was registered in 2008 by its anonymous creator, Satoshi Nakamoto. The first Bitcoin block, known as the genesis block, was mined on January 3, 2009.
- Bitcoins are recorded on a public ledger called the blockchain. Transactions are grouped into blocks that are linked through cryptography. Miners use specialized hardware to validate transactions and are rewarded with new bitcoins.
- Keys and digital signatures ensure security - users have private keys that sign transactions to prove ownership, while public keys can receive bitcoins. Addresses are generated from public keys through has
This document provides an introduction and overview of blockchain technology. It discusses the history of blockchain from 1991 concepts of cryptographically secure blocks to the creation of Bitcoin in 2008. It describes how Bitcoin works through a transaction example. Key aspects of blockchain like decentralization, mining, smart contracts on Ethereum, and permissioned networks like Hyperledger are summarized. Several use cases for blockchain in areas like payments, supply chain, and healthcare are outlined.
Bitcoin price today BTC to USD market cap.pdfFranck La Rocca
As of 4:11 p.m., the price of Bitcoin is $16,171.30, changing -2.19% from the previous day. The market capitalization of the tokens was $310,785,787,847.95 after the recent fluctuations in the price of bitcoin. Bitcoin has had a shift of -65.00% so far this year. According to the CoinDesks Digital Asset Classification Standard, Bitcoin is categorized as a currency (DACS).
- Bitcoin is a digital currency that operates on a peer-to-peer network without central authorities or banks. It was created in 2009 by an anonymous developer known as Satoshi Nakamoto.
- Transactions are recorded in a public ledger called the blockchain, and bitcoins are issued as a reward for processing transactions through mining. Users store bitcoins in digital wallets and can send and receive bitcoins for transactions.
- While Bitcoin provides advantages like low fees and financial freedom, it also faces challenges of market volatility and a need for wider acceptance to benefit from network effects. Development of Bitcoin software and services is ongoing as the currency continues to mature.
This document provides an introduction to Bitcoin technology. It begins with learning outcomes about identifying issues and implications of Bitcoin, applications of the technology, and describing how Bitcoin works. It then discusses the history of Bitcoin and what Bitcoin is as a decentralized digital currency. The document thoroughly explains how Bitcoin technology works, including mining, transactions, wallets, and challenges in using Bitcoin like volatility, small user base, and lack of regulation.
This presentation provides an overview of bitcoin and cryptocurrency. It discusses how bitcoin was the first cryptocurrency created in 2009 by the anonymous developer Satoshi Nakamoto. The presentation covers how bitcoin works as a decentralized digital currency not backed by any government or bank. Transactions are recorded on a public ledger called the blockchain and new bitcoins are introduced through mining by users contributing their computing power. Risks of bitcoin include technical issues, dishonest individuals, and mismanagement by online exchanges.
This document provides an overview of cryptocurrency and Bitcoin. It defines cryptocurrency as a digital currency that uses cryptography for security. Bitcoin, created in 2009, was the first decentralized cryptocurrency. The document then discusses how Bitcoin works at a basic level, including how transactions are verified and recorded in a public ledger called the blockchain. It also covers Bitcoin mining, wallets, and some advantages and disadvantages of cryptocurrency.
In May 2014, the price of 1 bitcoin was $420 USD, significantly higher than $4 two years prior. Bitcoin is a peer-to-peer virtual currency introduced in 2008 as open source software. It allows online payments to be sent anywhere without third parties like banks by using bitcoin addresses and transaction verification through mining on the blockchain distributed ledger.
Bitcoins may change the way we transfer money overseas or buy goods both locally and overseas. As part of my online UDEMY course Money Laundering in a Digital World I have created a basic overview of Bitcoin.
Top Bitcoin Wallets Of 2020 To Secure Your Digital Coinsdanialchristian
We are describing here top Bitcoin wallets and how these make sure to secure your digital coins. In this ppt file, you got a lot of knowledge about Bitcoin wallets.
This document provides an overview of a seminar on Bitcoin technology. It defines key terms like cryptocurrency, blockchain, and mining. It discusses Bitcoin's history and how transactions work using public/private keys and addresses. Advantages include security, low fees and payment freedom, while disadvantages include acceptance issues and potential for misuse. Applications of blockchain beyond Bitcoin like smart contracts are also covered.
Bitcoin is a decentralized electronic cash system using peer-to-peer networking to enable payments between parties without relying on mutual trust. It was first described in a paper by Satoshi Nakamoto (widely presumed to be a pseudonym) in 2008. Payments are made in bitcoins (BTC's), which are digital coins issued and transferred by the Bitcoin network.
The document provides an overview of blockchain technology and bitcoin. It discusses how the blockchain serves as a permanent record of all transactions, how bitcoins are created through mining, and some key advantages and disadvantages of bitcoin. The blockchain differs from traditional databases in that it is decentralized, distributed across a network of users, and allows for transparency of all recorded transactions.
Bitcoin is a digital currency created by Satoshi Nakamoto and released as open-source software in 2009. It allows online payments to be sent directly from one party to another without an intermediary. There will ultimately only be 21 million bitcoins created. Bitcoins are stored in digital wallets consisting of a public and private key. They can be obtained through mining, exchanging other currencies, buying from individuals, or selling goods/services for bitcoins. While they offer advantages over traditional currencies, bitcoins also carry risks like volatility, hacking, and theft if not properly secured.
Bitcoin digital cash basics svcc 2017 10 001 publishdonn_lee
Bitcoin is a digital currency that uses cryptography to control the creation and transfer of money. It operates on a decentralized peer-to-peer network, with no central authority. Users can obtain bitcoins by exchanging goods/services for them, purchasing them at ATMs or exchanges, mining for new bitcoins by verifying transactions on the blockchain, or accepting them as payment. Bitcoins are stored in digital wallets, and can be sent quickly and securely to anyone in the world for low fees.
The document discusses various techniques for preparing data in DataRobot, including importing datasets, removing irrelevant features, exploring datasets to create profiles, engineering data through projects by exploring values, splitting columns, changing types, and using regular expressions and computed functions to clean and transform data. It also covers publishing datasets to libraries, exporting datasets, and creating baselines.
An introduction session in the "Blockchain: Cryptocurrencies and other Business Applications" course that I've just finished delivering to the School of Business of Hong Kong Baptist University.
Ethereum is a decentralized platform that runs smart contracts and distributed applications. It provides a programmable blockchain that anyone can use. Ethereum launched in 2015 and enables peer-to-peer transactions through digital tokens called Ether. Unlike Bitcoin, Ethereum supports smart contracts and distributed applications through an Ethereum Virtual Machine. Common tools for developing on Ethereum include Solidity for writing smart contracts, Geth and Parity for running nodes, and Metamask for interacting with dApps. Tokens on Ethereum can represent various assets and functions like currencies, shares, voting rights, and access to services.
Managing Mobile App Performance Through Geo-Performance VisibilityDaniel Chan
A presentation delivered in the Test Automation and Digital QA Summit 2018 held in Hong Kong. A shift of paradigm for software testing as a result of new technologies in mobile computing, cloud computing, big data, and machine learning is observed in recent years. The presentation discusses how understanding on mobile app performance can be improved, and subsequently diagnosed, and monitored using the new paradigm.
Measures in SQL (SIGMOD 2024, Santiago, Chile)Julian Hyde
SQL has attained widespread adoption, but Business Intelligence tools still use their own higher level languages based upon a multidimensional paradigm. Composable calculations are what is missing from SQL, and we propose a new kind of column, called a measure, that attaches a calculation to a table. Like regular tables, tables with measures are composable and closed when used in queries.
SQL-with-measures has the power, conciseness and reusability of multidimensional languages but retains SQL semantics. Measure invocations can be expanded in place to simple, clear SQL.
To define the evaluation semantics for measures, we introduce context-sensitive expressions (a way to evaluate multidimensional expressions that is consistent with existing SQL semantics), a concept called evaluation context, and several operations for setting and modifying the evaluation context.
A talk at SIGMOD, June 9–15, 2024, Santiago, Chile
Authors: Julian Hyde (Google) and John Fremlin (Google)
https://doi.org/10.1145/3626246.3653374
OpenMetadata Community Meeting - 5th June 2024OpenMetadata
The OpenMetadata Community Meeting was held on June 5th, 2024. In this meeting, we discussed about the data quality capabilities that are integrated with the Incident Manager, providing a complete solution to handle your data observability needs. Watch the end-to-end demo of the data quality features.
* How to run your own data quality framework
* What is the performance impact of running data quality frameworks
* How to run the test cases in your own ETL pipelines
* How the Incident Manager is integrated
* Get notified with alerts when test cases fail
Watch the meeting recording here - https://www.youtube.com/watch?v=UbNOje0kf6E
UI5con 2024 - Keynote: Latest News about UI5 and it’s EcosystemPeter Muessig
Learn about the latest innovations in and around OpenUI5/SAPUI5: UI5 Tooling, UI5 linter, UI5 Web Components, Web Components Integration, UI5 2.x, UI5 GenAI.
Recording:
https://www.youtube.com/live/MSdGLG2zLy8?si=INxBHTqkwHhxV5Ta&t=0
Software Engineering, Software Consulting, Tech Lead, Spring Boot, Spring Cloud, Spring Core, Spring JDBC, Spring Transaction, Spring MVC, OpenShift Cloud Platform, Kafka, REST, SOAP, LLD & HLD.
What is Master Data Management by PiLog Groupaymanquadri279
PiLog Group's Master Data Record Manager (MDRM) is a sophisticated enterprise solution designed to ensure data accuracy, consistency, and governance across various business functions. MDRM integrates advanced data management technologies to cleanse, classify, and standardize master data, thereby enhancing data quality and operational efficiency.
UI5con 2024 - Boost Your Development Experience with UI5 Tooling ExtensionsPeter Muessig
The UI5 tooling is the development and build tooling of UI5. It is built in a modular and extensible way so that it can be easily extended by your needs. This session will showcase various tooling extensions which can boost your development experience by far so that you can really work offline, transpile your code in your project to use even newer versions of EcmaScript (than 2022 which is supported right now by the UI5 tooling), consume any npm package of your choice in your project, using different kind of proxies, and even stitching UI5 projects during development together to mimic your target environment.
SMS API Integration in Saudi Arabia| Best SMS API ServiceYara Milbes
Discover the benefits and implementation of SMS API integration in the UAE and Middle East. This comprehensive guide covers the importance of SMS messaging APIs, the advantages of bulk SMS APIs, and real-world case studies. Learn how CEQUENS, a leader in communication solutions, can help your business enhance customer engagement and streamline operations with innovative CPaaS, reliable SMS APIs, and omnichannel solutions, including WhatsApp Business. Perfect for businesses seeking to optimize their communication strategies in the digital age.
Need for Speed: Removing speed bumps from your Symfony projects ⚡️Łukasz Chruściel
No one wants their application to drag like a car stuck in the slow lane! Yet it’s all too common to encounter bumpy, pothole-filled solutions that slow the speed of any application. Symfony apps are not an exception.
In this talk, I will take you for a spin around the performance racetrack. We’ll explore common pitfalls - those hidden potholes on your application that can cause unexpected slowdowns. Learn how to spot these performance bumps early, and more importantly, how to navigate around them to keep your application running at top speed.
We will focus in particular on tuning your engine at the application level, making the right adjustments to ensure that your system responds like a well-oiled, high-performance race car.
Top Benefits of Using Salesforce Healthcare CRM for Patient Management.pdfVALiNTRY360
Salesforce Healthcare CRM, implemented by VALiNTRY360, revolutionizes patient management by enhancing patient engagement, streamlining administrative processes, and improving care coordination. Its advanced analytics, robust security, and seamless integration with telehealth services ensure that healthcare providers can deliver personalized, efficient, and secure patient care. By automating routine tasks and providing actionable insights, Salesforce Healthcare CRM enables healthcare providers to focus on delivering high-quality care, leading to better patient outcomes and higher satisfaction. VALiNTRY360's expertise ensures a tailored solution that meets the unique needs of any healthcare practice, from small clinics to large hospital systems.
For more info visit us https://valintry360.com/solutions/health-life-sciences
Neo4j - Product Vision and Knowledge Graphs - GraphSummit ParisNeo4j
Dr. Jesús Barrasa, Head of Solutions Architecture for EMEA, Neo4j
Découvrez les dernières innovations de Neo4j, et notamment les dernières intégrations cloud et les améliorations produits qui font de Neo4j un choix essentiel pour les développeurs qui créent des applications avec des données interconnectées et de l’IA générative.
Introducing Crescat - Event Management Software for Venues, Festivals and Eve...Crescat
Crescat is industry-trusted event management software, built by event professionals for event professionals. Founded in 2017, we have three key products tailored for the live event industry.
Crescat Event for concert promoters and event agencies. Crescat Venue for music venues, conference centers, wedding venues, concert halls and more. And Crescat Festival for festivals, conferences and complex events.
With a wide range of popular features such as event scheduling, shift management, volunteer and crew coordination, artist booking and much more, Crescat is designed for customisation and ease-of-use.
Over 125,000 events have been planned in Crescat and with hundreds of customers of all shapes and sizes, from boutique event agencies through to international concert promoters, Crescat is rigged for success. What's more, we highly value feedback from our users and we are constantly improving our software with updates, new features and improvements.
If you plan events, run a venue or produce festivals and you're looking for ways to make your life easier, then we have a solution for you. Try our software for free or schedule a no-obligation demo with one of our product specialists today at crescat.io
WWDC 2024 Keynote Review: For CocoaCoders AustinPatrick Weigel
Overview of WWDC 2024 Keynote Address.
Covers: Apple Intelligence, iOS18, macOS Sequoia, iPadOS, watchOS, visionOS, and Apple TV+.
Understandable dialogue on Apple TV+
On-device app controlling AI.
Access to ChatGPT with a guest appearance by Chief Data Thief Sam Altman!
App Locking! iPhone Mirroring! And a Calculator!!
Automated software refactoring with OpenRewrite and Generative AI.pptx.pdf
Bitcoin in a Nutshell
1. Bitcoin in a Nutshell
Dr. Daniel K.C. Chan
November, 2018
2. 2November 2018
◦ What is bitcoin?
◦ Which bitcoin networks to trade on?
◦ Where to keep your bitcoins?
◦ Ways to pay more securely
◦ How to buy and sell bitcoins?
◦ Transaction fees are optional but …
◦ What does bitcoin have to do with
blockchain?
◦ How is consensus reached?
◦ What is bitcoin mining?
◦ What is Initial Coin Offering (ICO)?
◦ Any other risks?
Contents
Bitcoin in a Nutshell
4. 4November 2018
▪ First cryptocurrency (created and stored digitally) introduced in 2009
and is the most popular cryptocurrency
▪ The number of bitcoins is capped to 21 million by design
▪ It is operated by a decentralised authority
▪ No centralised authority is responsible for verification of the validity of bitcoin
transactions and decides its value - it does this on its own
▪ Acceptable to some businesses as a form of payment
▪ Advantages include low transaction fees, faster transfer of payments,
participants stay anonymous, exemption of transaction taxes, …
Introduction to Bitcoin
Bitcoin in a Nutshell
6. 6November 2018
▪ The idea behind bitcoin began in 2008 when
the name Bitcoin.org was registered
▪ On October 31, 2008 (Halloween), Satoshi
Nakamoto published a paper that dictates
how bitcoin operates
▪ No one knows the true identity of Satoshi
Nakamoto, the name associated with the person
that released the bitcoin whitepaper in 2008
▪ The identity of Satoshi Nakamoto has not been
revealed to date
The Genesis of Bitcoin
Bitcoin in a Nutshell
Bitcoin: A Peer-to-Peer Electronic Cash
System, Satoshi Nakamoto, 2008
(https://bitcoin.org/bitcoin.pdf)
9. 9November 2018
On January 3,
2009, the first
Bitcoin block was
mined and is
known as Block 0
or the “genesis
block”
Transaction total
value was 50 BTC
The Genesis
Block / Block 0
Bitcoin in a Nutshell
https://www.blocktrail.com/BTC/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
10. 10November 2018
Stamping
the date of
the creation
of the
genesis
block
Coinbase
Message
Bitcoin as an Example of Blockchain Application
11. 11November 2018
▪ The coinbase message
“04ffff001d0104455468652054696d657320
30332f4a616e2f32303039204368616e6365
6c6c6f72206f6e206272696e6b206f662073
65636f6e64206261696c6f757420666f7220
62616e6b73” captures the heading “The
Times 03/Jan/2009 Chancellor on brink of
second bailout for banks” in The Times
▪ This was probably intended as proof that
the block was created on or after January 3,
2009, as well as a comment on the
instability caused by fractional-reserve
banking
Bitcoin in a Nutshell
14. 14November 2018
Main Network
(mainnet)
Global Testing
Network (testnet)
Local Regression
Testing Network
Real and mined coins with real
associated value are traded in
the live blockchains.
Coins on the main network are
traded for goods and services.
Let you instantly create a
brand-new private blockchain
with the same basic rules as
testnet.
Coins are created instantly
under your complete control.
Real and mined coins with no
associated value are traded in
the live blockchain for testing
purposes.
Testnet coins are given away
for free to anyone that wants
them.
Types of Bitcoin Networks
Bitcoin in a Nutshell
Coins mined in one network stay in that network, thus coins
cannot be transferred between networks
15. 15November 2018
▪ Coins for the Testnet are given out for free from what are called Faucet
Websites (e.g. http://bitcoinfaucet.uo1.net/, https://testnet-
faucet.mempool.co/)
▪ These websites are set up by miners or other users with a surplus of Testnet
coins
▪ They send coins to anyone who requests them and kindly asks for their return
when the user is finished with them
▪ Testnet requires no separate installation
▪ Bitcoin wallets that have the ability to connect to the Testnet can be started
with a special flag that will direct the software to connect to the Testnet
blockchain instead of the main network blockchain
Where do the Testnet bitcoins come from?
Bitcoin in a Nutshell
17. 17November 2018
▪ A bitcoin wallet is a
program / app / device /
way that helps send and
receive bitcoin payments
▪ It keeps history of
transactions made
through all wallet
addresses
▪ It reveals the balance of
the wallet containing
bitcoins associated to one
or more bitcoin addresses
Bitcoin Wallets
Bitcoin in a Nutshell
19. 19November 2018
▪ Multiple addresses
▪ Multiple private & public keys
▪ Does not store any currency nor wallet balance
▪ In fact, currencies do not get stored in any single location or exist anywhere in any
physical form
▪ All that exists are records of transactions stored on the blockchain
▪ A facility to manage cryptocurrencies (bitcoin and altcoins)
▪ A medium to interact with the cryptocurrency blockchains
▪ An address can be seen as a safe deposit box that has a glass front – everybody is aware of
what is contained inside, but only the private key can be used to unlock it and put things in or
take things out
What is kept in a wallet?
Bitcoin in a Nutshell
20. 20November 2018
What can you see through the glass front?
Bitcoin in a Nutshell
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
21. 21November 2018
What can you see through the glass front?
Bitcoin in a Nutshell
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
22. 22November 2018
Types of Bitcoin Wallets
Bitcoin in a Nutshell
Less secure Most secure
Online Desktop Mobile Paper Hardware
23. 23November 2018
▪ Open www.bitcoin.com
▪ Create a new “Personal Wallet”
▪ Enable “testnet” within “advanced options”
if you want to play with simulated currency;
otherwise, do not enable it
Creating a Desktop Wallet
Bitcoin in a Nutshell
24. 24November 2018
▪ If “testnet” is not enabled, a seed phrase
will be generated for you
▪ The seed phrase must be securely stored
as it serves as a superuser password for
your wallet
▪ The seed phrase needs to be provided
when trying to recover a wallet
Seed / Mnemonic / Recovery Phrase
Bitcoin in a Nutshell
25. 25November 2018
▪ Typically, multiple addresses can be mapped
to a wallet
▪ Some wallets have a limit on the number of
addresses and some do not
▪ Each address is associated to the
public/private keypair of the wallet
▪ The public key goes through several rounds
of hashing, a checksum added, and is
converted into a base58 string to produce the
bitcoin address
▪ An address is a string of 30 characters starting
with the digit “1”
Wallet Addresses
Bitcoin in a Nutshell
26. 26November 2018
▪ Private keys are needed to sign
transactions
▪ If a public key was an account number, a
private key would be like an ATM pin
▪ Provide and confirm a password before
exporting the private key as a file
▪ The private key can be shown as a QR
code to allow another device to capture it
▪ The private key can also be recovered
using the seed phrase
Private Key
Bitcoin in a Nutshell
27. 27November 2018
▪ Stores your bitcoin online
▪ These use an external
service that usually has control of
your money
▪ Besides those online wallets
listed on bitcoin.org, most places
where you can exchange bitcoins,
also let you store your money on
their servers, e.g. coinbase.com
and blockchain.info
Online Wallets
Bitcoin in a Nutshell
https://www.coinbase.com/
28. 28November 2018
▪ Mobile wallets are not full bitcoin
clients
▪ A full bitcoin client has to download the
whole bitcoin blockchain, which is large
and grows constantly
▪ A mobile device memory may not be
capable of storing this
▪ Mobile clients only download a small
subset of a blockchain then rely on the
trusted nodes on the network in a bid
to ensure the information they have is
correct
Mobile Wallets
Bitcoin in a Nutshell
https://wallet.mycelium.com/
29. 29November 2018
▪ Paper wallets are bitcoin seed written on paper
▪ When generating a paper wallet from a website, an image of two QR codes will be generated
▪ One of the codes will be a public address that you can use to receive bitcoins
▪ The other code will be a private key that you can use to authorize payments
▪ The private key is not stored anywhere by digital means, meaning that they are not prone to hardware
failure or cyber attacks
Paper Wallets
Bitcoin in a Nutshell
https://paperwalletbitcoin.com/
30. 30November 2018
▪ Also known as cold storage
▪ Download the wallet keys
generator by saving the webpage
(Ctrl-S)
https://paperwallet.bitcoin.com/
▪ Disconnect the computer
▪ Load the downloaded webpage
(without Internet connection) and
move the mouse around to
generate the keys completely
offline
Paper Wallets
Bitcoin in a Nutshell
https://paperwallet.bitcoin.com/
31. 31November 2018
▪ Dedicated hardware wallets
▪ These vary quite a bit in
features, security, and interface
▪ They are not widely
used, although possibly worth
investigating if you become a
serious bitcoin enthusiast
Hardware Wallets
Bitcoin in a Nutshell
33. 33November 2018
▪ Multiple parties are allowed to seed an address partially using their public keys
▪ For one to be allowed to spend the bitcoins, the other members will have to sign
▪ The number of signatures needed (N of M) for one to spend bitcoins is agreed
upon when the address is created
Multi-Signature Wallets & Payment Transactions
Bitcoin in a Nutshell
35. 35November 2018
The Controlled Supply of Bitcoin
Bitcoin in a Nutshell
https://en.bitcoin.it/w/images/en/4/42/Controlled_supply-supply_over_block_height.png
36. 36November 2018
Bitcoin is a Tradable Currency
Bitcoin as a Blockchain Application
https://bitinfocharts.com
37. 37November 2018
Bitcoin’s Historical High at US$18.334k on 16-Dec-2017
Bitcoin in a Nutshell
https://www.blockchain.com/charts/market-price?timespan=all
38. 38November 2018
▪ Bitcoin exchanges allows you to trade
bitcoin or fiat currency
▪ You can buy bitcoins from a bitcoin
exchange after signing up for an account
▪ You will be allowed to pay from a credit
card or a bank account
▪ The private key will be used to authorize
any payments
Buying Bitcoins through Exchanges
Bitcoin in a Nutshell
39. 39November 2018
Popular Bitcoin Exchanges
Bitcoin in a Nutshell
Bit2me Bitbank Bitcoin Of
America
Bitcoin.com Bitcoin.de Bitfinex BitMEX Bitnovo Bitpanda BitQuick
Bitsane Bitso Bitstamp BitX BTCchina CEX.io Changelly Circle Coinbase coinBR.net
Coinfloor Digital
Securities
Exchange
CoinMate Cointal
Exmo
Gatecoin Hitbtc Huobi Kraken LakeBTC
CoinGate
TideBit
40. 40November 2018
▪ The process of selling bitcoins is
not as easy as buying bitcoins
▪ You must decide on whether to sell
bitcoin online or in person
▪ Online
▪ Direct trades
▪ Exchange trades
▪ Peer-to-Peer Marketplaces
▪ In Person
Selling Bitcoins
Bitcoin in a Nutshell
41. 41November 2018
▪ Dealing directly with another
individual and an intermediary (e.g.
LocalBitcoins and Coinbase) who
facilitates the connection
▪ Register yourself as a seller and state
you have bitcoins to sell
▪ Get a notification when a buyer is
found
▪ Required to interact directly with the
buyer even though all the trades will
be completed on the website
Direct Trades
Bitcoin in a Nutshell
https://localbitcoins.com/
42. 42November 2018
▪ The exchanges act as an intermediary holding the funds for each participant
▪ To place a sell order, which states the volume and the price per unit
▪ Once a buyer posts a buy order that matches your sale order, the exchange will
complete the trade on your behalf and the bitcoins will be deducted from your
exchange account
Exchange Trades
Bitcoin in a Nutshell
43. 43November 2018
▪ There is no exchange that lets you easily deposit money and then offer you any
desired cryptocurrency
▪ You have to buy bitcoins at one place
▪ Trade it for coins at another site or exchange
▪ Basically, some exchanges are specialized in converting money into bitcoins
and back and other exchanges are specialized in converting cryptocurrency
coins between each other
▪ crypto → crypto: use Changelly, takes 10 minutes
▪ money → crypto: use Coinmama, Spectrocoin or Indacoin, takes 10 minutes
▪ crypto → money: no quick option, use Spectrocoin, Coinbase or LocalBitcoins, takes 1
to 3 days
Exchange Trades – Exchange Selection
Bitcoin in a Nutshell
44. 44November 2018
▪ Across all exchanges verification is required only for money trading
▪ You can deposit Bitcoin, exchange it for Ethereum and withdraw Ethereum without
verification
▪ Once you want to buy cryptocurrency with money or sell cryptocurrency for
money, you have to verify your account
▪ It usually consists of uploading photo of your ID/passport and waiting a few
days for approval
▪ Fees include exchange fee (for every exchange), fiat money deposit fee
(deposit/withdrawal from bank account or credit card), and other bank
charges (e.g. transferring money overseas)
Exchange Trades – Verification & Fees
Bitcoin in a Nutshell
50. 50November 2018
Exchange Trades - Bitcoin ATM Locations
Bitcoin in a Nutshell
https://coinatmradar.com/country/96/bitcoin-atm-hong-kong/ https://coinmap.org/#/world/33.72433966/14.94140625/2/atm
51. 51November 2018
▪ Can buy and sell bitcoins without
verification under a specified amount
▪ Need a bitcoin wallet
▪ QR code scanning with mobile phone
▪ On-site Wi-Fi is often provided
▪ Often only accepts/dispenses large
denomination notes
▪ Transaction fee (7~10%) is required
▪ Transaction receipt is provided
Exchange Trades – Using Bitcoin ATMs
Bitcoin in a Nutshell
52. 52November 2018
▪ To help two groups of people with specific and complimentary needs meet
▪ Sellers: people who need to use bitcoins to buy goods from a website that does not
accept payment via digital currencies directly
▪ Buyers: people who need to buy bitcoins using their credit or debit cards through
providing discounted goods and services
▪ Seller to post “wish list” and the expected discount rate
▪ Buyer who wants to buy bitcoins with value matching seller’s purchases will
purchase items in the wish list and will have them delivered directly to seller
▪ After the delivery of goods, seller will notify the marketplace to release the
bitcoins minus the discount agreed and a fee charged by the marketplace
Peer-to-Peer Marketplaces
Bitcoin in a Nutshell
53. 53November 2018
▪ To receive bitcoins, give the sender your public address or QR code
▪ Bitcoin payments are irreversible so be extra careful when sending bitcoin
payments
▪ To send bitcoins, copy the public address of the receiver or scan the
receiver’s QR code
▪ The wallet then publishes a signed copy of the transaction to the entire
bitcoin network, which will bundle the transaction into a block with other
transactions
▪ The block is tied shut with a cryptographic algorithm
Send & Receive Bitcoins
Bitcoin in a Nutshell
54. 54November 2018
▪ To scan the receiver’s QR code on the phone then accept cash-in-hand
▪ Need to agree with your buyer on the rate
▪ Can be based on what is available on a popular bitcoin exchange or
CoinDesk Bitcoin Price Index (https://www.coindesk.com/price/bitcoin)
▪ Some sellers will choose to apply a particular percentage on top on
such rates as an anonymity/convenience premium or to help them cover
costs
▪ You can advertise yourself as a bitcoin seller on a website such as
LocalBitcoins (https://localbitcoins.com/)
Selling In Person
Bitcoin in a Nutshell
55. 55November 2018 Bitcoin in a Nutshell
Thefirstblockwithbitcoinsending
transactionsafterthegenesisblock
90k+ blocks were created after
the genesis block but without
actual bitcoin exchange
Those 90k+ blocks were created
between January 3, 2009 and
November 8, 2010
The left hand side of the
transaction table contains input
addresses & amounts while the
right hand side has the output
addresses & amounts
“Spent” stands for bitcoins spent
through the destination address.
“Unspent” simply means bitcoin
that is still in that wallet under a
new address
https://www.blocktrail.com/BTC/block/0000000000115a0b62b7f458613747faee5278d041d957efbf1ac7d9dbaedc5f
57. 57November 2018
▪ When receiving bitcoins, one is not expected to pay any fee
▪ When spending bitcoins, you can specify the amount of fee that you are
prepared to pay
▪ The amount of fee is not determined by the amount of bitcoins that you are
transacting
▪ So the amount of fee for transferring 10,000 BTC and 1 BTC may be similar
▪ A higher transaction fee may lead to a faster transaction confirmation
▪ The fee will only affect the time you have to wait until the first confirmation
▪ For example, Next Block Fee gets the transaction mined on the next block (~10
mins), 3 Blocks Fee within 3 blocks (~30 mins), and 6 Blocks Fee within 6 blocks (~1
hour)
Bitcoin Transaction Fees
Bitcoin in a Nutshell
58. 58November 2018
The Genesis Block
Bitcoin in a Nutshell
https://www.blocktrail.com/BTC/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
60. 60November 2018
▪ Transaction fees are a form of compensation to the bitcoin miners for
the computational work they invested in confirming a bitcoin block
▪ When a transaction has a higher total denomination in its inputs than in
is outputs, the difference will go to the miner as a transaction fee
Specifying Bitcoin Transaction Fees
Bitcoin in a Nutshell
61. 61November 2018
Total inputs = 0.20333199 BTC
Total outputs = 0.20097975 BTC
Transaction fee
= total inputs – total outputs
= 0.00235224
The 500kth Block
Bitcoin in a Nutshell
https://www.blocktrail.com/BTC/tx/c2d47d9052a7aa47d87ab1f0d0660738d9ef514ce3486bd8c64a2769c542b652
63. 63November 2018
▪ bitcoinfees.earn.com provides a
useful statistic: the median byte
size is the most commonly seen
byte size of transactions in the
last several blocks
▪ Also provided in the same page is
a recommended fee for fast
confirmation
▪ Multiplying these two values will
get the total fee to pay
Bitcoin Fee Calculator
Bitcoin in a Nutshell
https://www.buybitcoinworldwide.com/fee-calculator/
65. 65November 2018
▪ A protocol that supports a decentralized, pseudo-anonymous, peer-to-
peer digital currency
▪ A publicly disclosed linked ledger of transactions stored in a blockchain
▪ A reward driven system for achieving consensus (mining) based on
Proof of Work (POW) for helping to secure the network
What is bitcoin again?
Bitcoin in a Nutshell
66. 66November 2018
▪ The blockchain is made of a network of nodes
▪ Each node in the network is an administrator and nodes are allowed to
join the network voluntarily
▪ Anything that happens is a function of the whole network
▪ The network operation is done on a peer-to-peer basis
Blockchain as a Network of Nodes
Bitcoin in a Nutshell
67. 67November 2018
▪ Blockchain technology is decentralised by design
▪ Information is in the form of shared and reconciled databases
▪ The blockchain does not keep records in a single location but at nodes
on the bitcoin network
▪ The records are available to the public to verify easily
▪ A hacker is not provided with a centralised version of records which they
can corrupt
▪ With identical blocks of information stored on the different nodes of the
network, there is no single point of failure
Decentralisation in the Blockchain
Bitcoin in a Nutshell
68. 68November 2018
Bitcoin nodes found in countries around the world
Bitcoin as a Blockchain Application
https://bitnodes.earn.com/
69. 69November 2018
▪ Must have the sender’s private key and receiver’s bitcoin address
▪ The private key is used to sign the transaction which has the input, the
amount, and the output
▪ The “involved” bitcoins are sent from the bitcoin wallet to the bitcoin
network
▪ Bitcoin miners then verify the transaction, put it into the transaction
block, and finally solve the computational puzzle against the block
▪ Solved puzzle must be verified by other miners through confirmation
and this is why sometimes you may have to wait for them to finish
Activities Leading to Confirmation
Bitcoin in a Nutshell
70. 70November 2018
▪ The bitcoin blockchain is designed in such a way that each block takes
on average about 10 minutes to mine
▪ Some merchants will make you wait for the transaction to be confirmed
▪ Meaning that it may take some time before you are allowed to download the
digital goods or enjoy using the paid service
▪ Some merchants will not make you wait for the transaction to be confirmed
▪ This is mostly in cases where the value of a transaction is low, meaning that the risk
of fraud is low
▪ A transaction is often considered confirmed after having six or more
transaction confirmations from various miners
Transaction Confirmation
Bitcoin in a Nutshell
72. 72November 2018
The network has a unified perspective of the blockchain,
with the blue block as the tip of the main chain
Bitcoin in a Nutshell
73. 73November 2018
Two miners mine two different blocks almost simultaneously,
both are children of the blue block
Bitcoin in a Nutshell
74. 74November 2018
The network splits into two different perspectives, one side
topped with a red block, the other with a green block
Bitcoin in a Nutshell
75. 75November 2018
The miners building on top of the green block find a new
pink block and extends the blockchain
Bitcoin in a Nutshell
76. 76November 2018
The blue-green-pick chain being the longer chain becomes
the main chain and the red block becomes an orphan
Bitcoin in a Nutshell
78. 78November 2018
▪ Bitcoin mining is the process of verifying transactions and adding them
to the public ledger which is a blockchain
▪ In the mining process, recent transactions are combined into blocks and
computationally difficult puzzles are solved
▪ The computational difficulty is elevated every 2,106 blocks
▪ After the “discovery” of a particular block, the discoverer is allowed to
itself a number of bitcoins as award
▪ Bitcoin mining is also the means through which new bitcoins are
released into circulation
What is bitcoin mining?
Bitcoin in a Nutshell
79. 79November 2018
ffffffff….
….
….
af658d45….
….
….
00000001….
….
000000004ff..
….
….
000000002….
000000001….
000000000….
The SHA-256 values of the different
configurations of the block header
Possible block header hash values
corresponding to possible values
assigned to the nonce field
The Computational Puzzle of Bitcoin Mining
Bitcoin in a Nutshell
Magic Number (4) 0xD9B4BEF9
Block Size (4) 632
BlockHeader(80)
Version (4) 1
Previous Block Header Hash (32) 0000…
Merkle Root Hash (32) d7c3….
Timestamp (4) 2010-11-08 15:34:22
Difficulty Target (4) 1.00000000
Nonce (4) What value to assign?
Transaction Counter (1-9) 3
Transactions (< 1,000,000) 1Htz....(50)
1K3d….(50) > 1Lgs….(50)
1E7o….(50) > 12Qy….(10), ….
Block header hash values are valid
only if they are below the specified
difficulty target, often interpreted as
the number of leading zeros required
Using the 500th block as an example
Nonce
= 2063568441
Find a value for the nonce field such that the block header hash value is smaller than the specified difficulty target?
In the case of the 500th block, the winning miner assigned 2063568441 to the nonce field.
✓
80. 80November 2018
Block height is at 550,763 as of 20th Nov, 2018
Bitcoin in a Nutshell
https://www.blocktrail.com/BTC
81. 81November 2018
Mining reward is halved every 210,000 blocks
Bitcoin in a Nutshell
https://en.bitcoin.it/w/images/en/4/42/Controlled_supply-supply_over_block_height.png
82. 82November 2018
The birth of the very
first 50 BTC
The Genesis
Block
Bitcoin in a Nutshell
https://www.blocktrail.com/BTC/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
83. 83November 2018
The Bitmain mine in Ordos, Inner Mongolia, has eight buildings containing
mining machines. One of them is dedicated to Litecoin and seven mine
bitcoins.
Bitcoin as a Blockchain Application
https://qz.com/1055126/photos-china-has-one-of-worlds-largest-bitcoin-mines/
90. 90November 2018
▪ An ICO is the first release of a
cryptocurrency
▪ Mostly the process is done by
crowdfunding but private ICO’s are
becoming more common
▪ In an ICO, a quantity of cryptocurrency is
sold in the form of tokens (coins)
to investors, in exchange for legal
tender or other cryptocurrencies such
as bitcoin or ethereum
▪ The tokens sold are promoted as future
functional units of currency if or when the
ICO's funding goal is met and the project
launches
What is ICO?
Bitcoin in a Nutshell
https://www.icochamps.com
91. 91November 2018
▪ Almost no government regulation/enforcement & no qualification process
▪ ICOs have been prone to scams and securities law violations
▪ Fewer than half of all ICOs survive four months after the offering while almost half of ICOs
sold in 2017 failed by February 2018
▪ On January 30, 2018, Facebook banned ICO advertisements as well as those
for cryptocurrencies and binary options
▪ By April 9, 2018, ICO advertising has been banned also by Twitter, Google, and MailChimp
▪ Facebook has since changed their mind and June 26, 2018 announced to reopen for approved advertisers
▪ Snapchat, LinkedIn, Baidu, Tencent, Weibo, Line, and Yandex all have limited companies from
marketing ICOs via their platforms
Issues with ICOs
Bitcoin in a Nutshell
92. 92November 2018
▪ On September 4, 2017, Chinese financial regulators officially banned all ICOs
within the country, demanding that the proceeds from all past ICOs be refunded
to investors or face being severely punished according to the law
▪ The action by Chinese regulators resulted in large sell-offs for most cryptocurrencies
▪ Prior to the Chinese ban, ICOs had raised nearly US$400 million from about
100,000 Chinese investors
▪ A week later, however a Chinese financial official stated on Chinese national TV
that the ban on ICOs is only temporary until ICO regulatory policies are in place
ICOs are banned in China
Bitcoin in a Nutshell
94. 94November 2018
Nature Signs Cases
▪ Fabricate a fake ICO, create
marketing hype, persuade people
to buy
▪ Seen as a quick & innovative
way to kickstart a company
▪ Ethereum has become the
breeding ground for these
fraudulent ICOs
▪ It is the ignorance of new
investors who dream of huge
gains in a matter of days by
holding worthless ICO tokens
▪ Cryptocurrency start-up Confido
disappeared with US$375,000
from an ICO
(https://medium.com/@cryptoann
a/confido-the-latest-
cryptocurrency-scam-
82aecfc896a1)
▪ Benebit ICO does a runner with
US$2.7 million of investor funds
(https://news.bitcoin.com/benebit-
ico-runner-2-7-million-investor-
funds/)
▪ Copied whitepaper
▪ Anonymous team (management,
lawyers, bankers, IT teams)
▪ Unusual hurry in execution
▪ Mismatch of written & said words
▪ Ignoring hard questions
▪ No strong reason for the token
economy
▪ No roadmap
▪ Jurisdictions that have little to no
investor protection rights
Fraudulent ICOs
Bitcoin in a Nutshell
97. 97November 2018
▪ By 2014, Mt. Gox was the largest bitcoin exchange
handling over 70% of all bitcoin transactions
worldwide
▪ In February 2014, it suspended trading, closed its
website & exchange service, and filed for
bankruptcy protection from creditors
▪ The company announced that approximately
850,000 bitcoins belonging to customers and the
company were missing and likely stolen, an amount
valued at more than US$450 million at the time
▪ Although 200,000 bitcoins have since been "found",
the reason(s) for the disappearance - theft, fraud,
mismanagement, or a combination of these - were
initially unclear
▪ New evidence presented in April 2015 by Tokyo
security company WizSec led them to conclude that
"most or all of the missing bitcoins were stolen
straight out of the Mt. Gox hot wallet over time,
beginning in late 2011"
Bitcoin in a Nutshell
https://www.wired.com/2014/02/bitcoins-mt-gox-implodes-2/
98. 98November 2018
▪ In August, 2016, nearly 120,000 units of digital currency
bitcoin worth about US$72 million was stolen from the
exchange platform Bitfinex in Hong Kong, rattling the
global bitcoin community in the second-biggest security
breach ever of such an exchange.
▪ Bitfinex is the world’s largest dollar-based exchange for
bitcoin, and is known in the digital currency community
for having deep liquidity in the U.S. dollar/bitcoin
currency pair.
▪ In a statement on the Bitfinex website, the company
said “We have decided to generalise losses across all
accounts. … Upon logging into the platform, customers
will see that they have experienced a generalised loss
percentage of 36.067%.”
▪ BFX tokens were created after the hack, with an
obligation to return the 36% of lost funds to all
customers. The company finally redeemed 100% of all
issued and outstanding BFX tokens by April, 2017.
Bitcoin in a Nutshell
http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/