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Bitcoin Educators: Why is it important and beneficial to teach about Bitcoin?
I'm here to get input, quotes, resources, and feedback from anyone involved in Bitcoin education. I'm an educator in Seoul, Korea, and I also help organize the Seoul Bitcoin meetup with a few others. For a graduate school course I'm taking in Visual Media Technology, I'll be creating a presentation on The Benefits of Teaching Bitcoin. This project will satisfy my course requirements but will also be presented by me at an upcoming Seoul Bitcoin meetup in early July. My presentation will mainly be centered on the following components but will will also include how Bitcoin works by the nature of these components: 1) Teaching about Bitcoin can help learners understand and take interest in: economics, game theory, information theory, privacy and censorship, ethics, politics, cryptography, coding (explanation of how it's true and why it's important) 2) How to teach about Bitcoin (what to start with and steps through the process & useful methods/activities/analogies) My goal is to explain how teaching about Bitcoin can be a valuable educational tool. I'd appreciate any of your thoughts, experiences, resources (links, video, images, Ppts). Title: Bitcoin: A Cross-Curriculum Education Tool Format: PowerPoint Presentation Exigency: Bitcoin is something I have grown to love studying and teaching about. It encompasses aspects of my childhood education that I have always disliked, yet which I now enjoy. I believe Bitcoin can serve as a strong educational tool to motivate and educate young learners, garnering interest in important fields that are often taught with little real world application. Bitcoin can solve those teaching woes because it is shockingly brilliant. Audience: My audience will be learners (high school and up) who know little to nothing beyond having heard the word “Bitcoin”, but who are willing to learn about it and open to the possibility that it might be a good for it to be used as an educational tool to possibly incorporate into a classroom curriculum. Constraints: There are perhaps too many aspects of Bitcoin to explain, yet they are all important to the system. Some parts are very technical, and it will be challenging to find a balance between explaining certain things at a surface level and diving deep into the technical details. Thanks in advance
Which altcoin within the top 100 has the best technology?
I'm trying to figure out, which altcoin might replace Bitcoin due to superior technology. As far as I can see, the 3 most important attributes of a cryptocurrency are VISA-like scalability, resilience to tampering and energy usage. Is it Nano due to zero transaction fees and almost instant transaction times or IOTA, because of its tangle that provided quantum-resistant cryptography and also non existing transaction fees. Nano also has 1 millionth energy usage of Bitcoin, right? Looking at the most popular cryptos right now, none of them have technology that can scale, is that true? Correct me if I'm wrong. I don't know all cryptocurrencies in all of their detail.
BCH, has double the blocksize, which has no O-notation impact on scalability. Otherwise just as "bad" as Bitcoin.
Ether isn't much more scalable than Bitcoin, and doesn't use much less energy, does it?
Ripple isn't a cryptocurrency as we know it
Litecoin just has a different algorithm than Bitcoin, with everything else being the same
What about the remaining top20 coins Cardano, EOS, Stellar, NEO, DASH, NEM, TRON, QTUM, DigixDAO scalable and economical?
What about VeChain? Can it compete with NANO and IOTA?
Of the remaining top50 coins, I have heard OMG, PPT, WAVES, SIACOIN, WTC, Veritaseum, Ziliqa being shilled a lot. Is their reputation as good as their technology, can they compete with NANO?
What about the other top 50 coins ETH classic, LISK, Bitcoin Gold, ZCASH, Steem, Stratis, Bytecoin, Bitshares, RHOC, Dogecoin, Aeternety, Augur, Bytom, Status, Decred, Ontology, Komodo, Hshare. I have never heard of most of them, are they just good marketing (Dogecoin, Bitcoin Gold, Eth classic) without unique technology behind them or are there some that I should keep an eye on.
From my understanding, only NANO and IOTA have the technology that would allow them to replace Bitcoin and scale to VISA-like transaction volume if ever. Is there any currency that I should also know about that can compete with them? Please provide information why a technology of a specific coin is good, not just saying that ICX is great. Thanks.
02-17 21:53 - 'Cryptocurrencies: Innovations in finance from the future' (self.Bitcoin) by /u/masscoinex removed from /r/Bitcoin within 1-11min
''' With the rise in digital trends all across the globe, we have seen a huge growth in the digital finance market spanning across all sectors. Be it electronic payment mediums or digital transaction platforms, electronic finance has never been so easier and convenient. However, the boom of cryptocurrencies managed to change the face of the entire digital monetary platform. Although digital assets could be bought and sold previously in terms of website credits or precious metals, the rise of an entirely different concept of [digital currency]1 shook the foundations of every stock market in the world. People all over the world are trying to tap into this immensely successful and sought after digital currency and you too can cash in on the huge profits it has to offer. Read on to find out more. The first cryptocurrency ever to be used was Bitcoin which was heard of back in 2008 when it emerged as a virtual asset with a monetary value linked to it. The currency gets produced as a result of ‘mining’ done by software engineers who try to crack cryptographic codes. This exchange medium soon became popular due to: Security as a medium of [transaction]2 . It uses a locked public key as a security system which essentially means that only the owner of the key would be able to send cryptographic transactions. Thus it defined the way for secure financial transactions which would prove impossible to hack due to additional security by cryptography. Global transactions can be carried out worldwide to anyone having a bank account and an internet connection. The process is completed in a matter of minutes and the person at the other end receives it instantly. It does not matter whether you are sending coins to your neighbor or your agent across the world, the process gets completed instantly. Anonymity plays a lead role here. The identities of the people sending and receiving the currency would also remain anonymous. [Accounts]3 of crypto coin holders are not registered to a real world account and thus people can carry out transactions without any inhibitions. Transactions can be made without need of any third party authorization as we see most commonly on the gateway page of our banks. The owner of the currency would have sole access to his software which would enable him to carry out the exchange. All these factors lead to a rise in the number of people carrying out trading via cryptocurrency and the [stock market]4 saw a huge growth in digital currency sectors. People were keen on investing in this future currency and investment gurus wasted no time in future predicaments of digital currency boom. The information in these currencies are stored in formation nodes called blockchains. This ensures that the information can never be deleted or manipulated via a third party. This type of blockchain information networking led to the rise of different types of cryptocurrencies. Some of the popular coins in today’s market are [BTC (Bitcoin),]5 BNB(Binance), BCN, MKR, AE, PPT, MOAC, etc to name a few. All these are mined by different investors and which then source to the public online. Today customers have a wide range of options from where to buy their first digital coin. A lot of companies and agents offer lucrative deals to people to lure them to sign up and trade with them. Although some of these companies may be legitimate, it can be easy to get schemed out of your hard earned cash if you do not approach the right trader. The digital currency market can be a very exciting place and with the right guidance one can easily start cashing in on the profits. However just like any [trading platform]6 , losses can be instant and can vary in magnitude from a few thousand dollar to millions. This is why it is advisable to approach the right crypto trader when making your financial decisions. We at [Masscoinex]7 are committed to providing you with the right guidance and experience you need in digital currency trading. We are your one stop solution for all your crypto coins and trade investments. We provide you with the option of both selling and buying coins on our platform and customers get to choose from a wide and varied range of 50 plus coins. One simple sign up with us is all you need to get started in the world of crypto trading. We accept all major international credit and debit cards and have provisions for electronic transfers also. We welcome non KYC applicants also to come and trade with us. Being a global exchange for cryptocurrency, we are always up to date with the latest in digital stocks and currencies and have years of experience serving our valued customers. We have a low fee structure which is one of the lowest in the market right now and registration takes only about 60 seconds after which you could be fully experiencing the world of digital crypto trading. Crypto currency for the first time in the history of the world has actually bought financial freedom for people. A survey showed that around 2 billion individuals around the world do not have access to bank accounts. Users over the world can now have access to their form of [financial assets]8 without fear of reprisal, especially in developing countries and the Middle East. The block chain technology which is one of the most secure networking protocols till date can be used in elections around the world where corrupt governments rig their ballot systems. A currency which has the potential to change the lives of people forever. A financial tool which actually gives people the power to control their money. That is cryptocurrency and now you too can take control of secure digital assets in a few simple ways. The crypto market is only beginning to rise and determined investors will find out what the digital future has in store for us. Come and experience a whole new dimension here at [Masscoinex.]9 ''' Cryptocurrencies: Innovations in finance from the future Go1dfish undelete link unreddit undelete link Author: masscoinex 1: *asscoinex**o*/ 2: mas*co*ne*.com* 3: *asscoin*x.c**/w*b/bu* 4: m*sscoi*ex.**m/we*/hi*tory 5: masscoinex**o**#fe*s 6: *assc*in*x.com* 7: *a*s*o*nex.com/ 8: mass*oinex***m/web/*og*n 9: ***sc*inex.com/web/*ignu* Unknown links are censored to prevent spreading illicit content.
Patrick Dai: Past, Present and Future of Blockchain
Qtum Co Founder Patrick Dai gave a speech on the topic of “The past, present, and future of blockchain”.
On March 28, 2018,"China Blockchain First Defense" and Industry Leaders Summit in Beijing, hoping to be able to participate in this blockbuster technical momentum. Among them, those who are eager to try can have courage in their hearts, have wisdom in their brains, can foresee the future, can take care of their feet, and greet this new technology debate with the most correct posture. Leading 50+ blockchain industry leaders participated in the conference and delivered speeches, including Sogou CEO Wang Xiaochuan, Founder of NEO, Founder of Onchain Distribution Technology, CEO Da Hongfei, founder of F2Pool, co-founder of COBO wallet Shenyu , Beauty said the founder, HIGO founder Xu Yirong, distributed capital executive director Yu Wenbo, the founder of linear capital Wang Huai, founder of the cornerstone of the ArcBlock block Lao Zhao, director of the Center for Fintech and Internet Security, Renmin University of China, Yang Dong Professor Xu Wei, deputy director of the Department of Computer Science and Technology at Tsinghua University, and so on, used real discussions to collide with the latest knowledge.
Qtum Co Founder Patrick Dai gave a speech on the topic of “The past, present, and future of blockchain”.
The topic of my speech today is "The past, present, and future of blockchain." It may not be necessary for PPT. Tell me about my feelings. What should I say? In other words, entering this industry from 2012, basically witnessed the development of the entire industry. It was during the time of reading the Ph.D. from the Chinese Academy of Sciences that it was a chance to learn about Bitcoin's ideas and ideas. From then on, it was always right. This thing is fascinating and has been engaged in a lot of work in this industry.
I think the understanding of the whole blockchain industry is actually not necessary to kill, nor is it necessary to demonize. A technology appears to have its inevitability. The reason for its emergence is accompanied by the maturity of the Internet infrastructure. A concept.
Since the 1990s, from the Western community has always been from the password punk ideas and movement, and want to promote the birth of a new point-to-point Internet-based payment system, Bitcoin is a very successful experiment in this field.
Why did you decide to join the blockchain industry? I think this is the initial heart and original intention of returning to this industry. Back to the development of the Internet industry, many business models are built on a very low-level basis. Many business models rely on information asymmetry to provide users with convenience and service, and to obtain certain commercial premiums and fees.
In the process of the development of Internet protocols, I think that Bitcoin-based agreements have always been missing a seesaw link in this protocol layer. Can we find an agreement based on the value-to-point conversion of point-to-point networks built on the Internet? Need to go through any middleman, so that the value of the liquidity and value conversion efficiency has been greatly improved. In the past, the work of the Internet industry solved the problem of efficient differentiation of information, aggregating information, and re-sale of information. Many of the services provided around the concept of information provided some services.
The information on the Internet is highly replicable, and its value is also discounted. After the information is disclosed, the value of information is lost. However, recognition of value is often driven by the community. Only when it is recognized by the community and the people can an item have value. Bitcoin has created a new thinking paradigm since 2009, that is to say, I can use the underlying technology of cryptography to ensure that the right to use a certain piece of data on the network is unique, and this transfer has been recognized by the entire network.
Through such a peer-to-peer network, this network can realize a completely information-equivalent network. In essence, from information inequality to information equivalence, at least from the point of view of all transactions, anyone has the right to review, record, and To verify the authenticity of this transaction, I think that in the development of our previous information system, apart from sharing databases in large companies, it may not be possible to provide the public with all the right to know information outside of the synchronization of several data centers.
Bitcoin has a complete set of open source, transparent, and right to know and participate. There is no threshold, and there is no such a network of information services as the borders. Behind the protection of cryptography, the protection committee has certain values. There are so many stories in this industry that the first people to enter Bitcoin are those who play games to play gold coins. Why are there so many sources, like World of Warcraft gold coins only down value, there is recognition of World of Warcraft, they later found that during the day to play gold coins, at night can also be used to mine the computer cafes, dig out Bitcoin also on the Internet People recognized. In a sense, it is a kind of community-based behavior that drives this value gradually into the mainstream.
But I think the emergence of Bitcoin came into being. That is to say behind the birth of the whole thing there is a very large historical reason. I think it can be extended to a meaning. With the help of the information highway infrastructure that we built in the past, we have created mega-sized companies such as BAT, Google, and Facebook. They enjoy the services provided by the well-developed infrastructure and thousands of services. Tens of thousands of users. There is no threshold for bitcoin creation, no need for permission from anyone, and no threshold, allowing entrepreneurs and investors to enter the Internet system. The entire hardware has brought about great changes to the Internet industry.
Going to understand the blockchain essentially goes beyond the existence of the technology category, and has already derived from the concept of technology some changes in the laws, regulations, and supervision of the society, including our thinking about the centralized system and the decentralized system again. Bitcoin, through its unique gesture, showed us the prototype of the initial design of the Internet. We rethought the pros and cons of centralization and decentralization. We have become accustomed to our data before Bitcoin, our assets, and our funds. In the centralized system, Bitcoin opens possibilities in a new way.
In essence, the Bitcoin network is a very successful experiment. It is also a process of looking back at the entire development of the Internet 100 years later in the history of mankind. When we are on the path of the entire technology evolution, Bitcoin is a wonderful highlight in human history and it is difficult to ignore. . The Bitcoin network evolved from the initial fully-equalized network to the present day. The network develops towards a layered path. The network starts from the peer node and gradually improves the efficiency through some centralized nodes. The network itself At first, it was absolutely decentralized. Absolute fairness and reliability became a compromise between efficiency and fairness. I think this is an inevitable way. There are advantages and disadvantages of centering and decentralization, how to balance, and ultimately how to serve users, we need to make a choice between system design.
The development of the entire blockchain industry to this day, I think it still faces a lot of problems, that is essentially in a very early stage, the entire industry from the real beginning may be announced from January 3, 2009, the bitcoin code, To the development of the block, the first five years were confined to very small circles. At that time, the most impressive reading doctor visited the community every day. At the earliest time, Satoshi Nakamoto wrote a post on it and you will find that these developers and programmers hold With the spirit of idealism, how to make software better, followed by a huge wealth effect, so that more people are concerned about the occurrence of such a thing. But the original idea was nothing more than the very simple idea of using cryptocurrency in community rewards to fund new projects. Then with the expansion of economic interests, more people are aware of this matter. In 2015, industry practitioners should be aware that there is more conflict between cryptocurrencies and the existing legal and regulatory systems, abstracting the concepts and technologies behind cryptocurrencies, and using blockchain as a very centralized technology. Better to educate the society and pass on some ideas. The development of the entire blockchain industry, from my understanding, really started to get more people from the summer of 2015, and with the help of the technology behind the blockchain, how we can promote some changes in the industry. The entire cryptocurrency is a topic that cannot go around.
In fact, the development of the entire blockchain industry has become an ecological phenomenon. At the peak, the market value of the entire industry was once US$800 billion. As the market declines, there may still be a market value of US$300 billion. How to understand such a thing? I think that people are always irrational about new technologies. They are mingled with innovations in new technologies and innovations in ideas. They are accompanied by a speculative atmosphere. They often allow new technologies to quickly iterate and precipitate valuable things. Throughout the entire process, how do we put the true value into play and eliminate relevant risks? I think this is a relevant industry practitioner, including policy makers, who need to think together.
The development of the entire Bitcoin software system has in fact proved to be a safe and reliable system in the past nine years. We do not discuss its monetary factors and indeed created a large P2P peer-to-peer network from the perspective of software development. Thousands of transactions can be carried on top of it, and each person can enjoy convenience through access without a threshold. But how to standardize its development is a question that many of our practitioners need to think about.
In 2014, in fact, something very interesting happened in the industry. At that time, a very good idea was proposed. Because Bitcoin has limited flexibility and limited flexibility cannot carry its applications, I think this is the original intention of the design. Not the same. Ethereum has a good idea. With the help of distributed networks, we can use more flexibility to carry more distributed applications on top of it. With the concept of smart contracts, smart contracts are behind The essence of this I think is the concept of automating our business processes and commercial transactions more efficiently and more efficiently. This is a very idealistic concept. Why do you say that? Blockchain network itself is a self-consistent logic, essentially a highly reliable and reliable symbol system, and the symbol depends on the recognition. In Ethereum, it has more logical operations on these symbols and on these data. These logical operations cannot be implemented on the bitcoin network through scripting languages, and must be implemented through more flexible operations. Why EDM? Virtual machines can perform more efficient operations on data and funds, and this operation is verified by the entire network.
At present, from the development of the past year, accompanied by everyone’s frenzy of new technologies has caused a phenomenon such as ICU fanaticism. Essentially, business returns to the essence. There is no sustainable business model for any one thing. In fact, no matter what kind of financing model Yeah, it's hard to last one thing. Prove the availability of smart contracts from another dimension, that is, to institutionalize the investment process, no threshold for investment processes, and how to use technology's advantages to avoid its risks. I think this is also a problem that we need to discuss together.
I think the simplest example is how to look at the value of such concepts as smart contracts. I think we can give us a new perspective on how Internet computers can boost our productivity. Let me give you the simplest example. That is to say, smart contracts are essentially every smart contract that is a virtual agent and a virtual agent that can put your money and can put your data in trust with the virtual agent and Virtual agents help you deal with it. For example, like the largest chain of real estate agency companies in China, it may have recruited 100,000 young errands, doing repetitive work every day, signing contracts for buying and selling houses and leasing contracts every day. It may be more appropriate to lease contracts. Repetitive work, in fact, with smart contracts may be on several computers, and for a few minutes you can virtualize 100,000 virtual contracts. The functions and effects of these virtual contracts are essentially the same as the functions and effects of the human resources. In a sense, the cost of commercial operations is reduced, and more commercial transactions become more efficient and more computational. The resources, through the logic of the computer, replace our repetitive labor, which is a very valuable part of business.
I think that means that the development of the entire blockchain industry has developed into today. In fact, we have witnessed the successes and failures of thousands of projects throughout the industry. I feel that this business model is particularly premature in the early days of the industry. In other words, we are currently examining business models that have been validated from the point of view of industry development. We do not discuss the issues of laws and regulations. We only discuss the development of the industry from the perspective of objective facts. The verified business model is the cryptocurrency itself, as an Internet Community-based, recognized as a carrier of a new type of value, I think it has gradually been verified. In a sense, it proves why there are so many Bitcoin. There are tens of millions of users all over the world. There are so many exchanges. Go to trade such a new transaction variety.
In addition, I think that the first point is that the concept of smart contracts is still at an early stage. How do we find new technologies that can go beyond pure cryptocurrencies and ICOs to go to the ground? I think the industry is facing new technologies. One challenge, one such challenge, I think there are so many things that can be done in the future. I think the first possible breakthrough point is the field of virtualization and digitization, such as various assets in the game. Value assets and props have such a potential to be reconstructed. The entire game is about the future of the economic system.
The second point is that we have already digitized ourselves. All of our digital content, including music, video, copyright, audio, and text, I think these are essentially digital things that are easier to deal with as the underlying light chain of the blockchain itself. The natural occurrence of the network.
The second point is that the entire future glorious understanding of ID will be connected through a unified network for all people's IDs, IDs of things, IDs of things, and systems whose networks are not encrypted. With the uniqueness of the whole thing with ID, there is a unique need to generate a long tail, resulting in a paid scenario.
The copyright of a single picture makes it difficult for authorization and commercial transactions to occur under the existing system. There is a unique ID, similar to our domain name resolution. Recently, IPFS creates a new file transfer network, giving each file a unique identity and identity. This is like the speed and value exchange of our information exchange. Identification. I think in these areas, the future will surely produce a lot of C-side breakthroughs in some areas. But at present, I am not so optimistic. I think the whole industry really needs a certain amount of time to precipitate. It may be one year or two years. In three years, we can really find a product that has a large number of active users with more than 10 million C-ends. This still needs all our practitioners to think about it. When we have a C-side product like this, I think The industry of the entire blockchain can really enter the mainstream society. We can't rely on us to talk about it every day. We can see these applications on the mobile and PC applications.
To sum up, we entered this industry ourselves in 2012. At that time, we once thought that the entire industry might attract people's attention like today. In fact, some of them happened too quickly. Sometimes it was thought that there was a concern in the industry and society. This happened very quickly. This industry festival has undergone rapid changes and iterations. I feel that all entrepreneurs have not forgotten their hearts and can move forward to find out exactly what they are doing or where they are doing business. What kind of problems and needs do they really go back to, This is the most important.
In addition, for the development of the blockchain industry, I feel that in essence, we have created a network with no threshold and low-cost information exchange in the history of humankind. This makes it difficult to imagine some payment scenarios and it is difficult to imagine the exchange of value. If the threshold is too high and the business model in which the value exchange path is too long to be realized can be born, I think that these business models will have a very big impact in the future. I think that these impacts will actually have a big impact on some of our entire Internet systems, because these unimaginable business models were born with a new look. It was hard to imagine that it would be hard to imagine that one day they could serve. With regard to the business model of the earth’s owners, I think that in the blockchain network, it may be possible to create such business models that were never expected. I think this will take time and will require historical verification. Thank you all.
ABSTRACT The experience of buying and selling cryptocurrencies is as much of a barrier to the expansion of cryptocurrency trading as the relative novelty of the entire concept. While it is no doubt a more recognised and even well regarded market activity, with organisations such as the Chicago Board Options Exchange (CBOE) recently offering the world’s first official cryptocurrency futures contract, and several exchanges opening almost every other week, it is still very much a niche market position to engage in substantial buying and selling of cryptocurrencies. When compared with the market volumes for trading fiat or other stores of value like precious metals, the total cryptocurrency market capitalization of $471,511,748,724 is little more than pocket change. To put it in perspective, the total market capitalization of Bitcoin, which is by far the world’s most popular cryptocurrency is $166 billion, less than the $171 billion market cap of MasterCard, which is not even a fiat issuer. Clearly, despite the leaps and bounds that have been recorded in the growing success story of trading cryptocurrency on the open market, a substantial amount of work still remains to be done. Many reasons exist for the persistence of a gap in market adoption and participation, but perhaps one of the most ubiquitous and detrimental is the sheer difficulty of actually participating in the cryptocurrency market trading space. Due to a lack of regulation stemming from the decentralized nature of tokens, the market is crammed with a vast number of competing platforms and exchanges, all claiming to do certain things which many of them glaringly fail at. For example, the sheer amount of operational friction involved in carrying out a simple purchase transaction is enough to put off many first-time investors and market participants, especially those who do not understand the cryptocurrency ecosystem in detail and those who are used to the structure and order in a regular stock market. The speed of transactions on many platforms has often gained notoriety for creating severely dissatisfied users who had to wait for hours, days or even weeks for a single transaction to trundle its way through. In the midst of these delays, the dynamic market keeps changing. sometimes literally minute-by-minute, which severely compromises the investment position of the user and makes them unlikely to return as market participants again. Some users have even found out to their great personal cost, that while cryptocurrency tokens themselves cannot be hacked or duplicated, they can be stolen from digital wallets that do not have adequate security. So when executing cryptocurrency trades, it has been known to happen that the trading platforms or exchanges used suffered a severe security breach, sometimes with hundreds of millions of dollars’ worth of user cryptocurrency being stolen. Amidst the unique crypto trading environment of unmatched optimism mixed with real risks and horror stories, the challenge is to create a solution that offers all users quick, easy and secure access into the cryptocurrency marketplace with zero fuss and very low risk. This solution would need to cater to both veteran participants in the ecosystem and new entrants into the market, giving both an equal chance to compete. The security on this platform would substantially preclude the possibility of a devastating failure that would compromise user assets and disrupt the user experience. Taking all these problems, challenges and needs into consideration, SLT has been developed as a trading platform offering users the power to buy and sell digital tokens to each other. Making full ue of the security and data processing advantages offered by the Blockchain, SLT proposes to revolutionize the experience of market participation in cryptocurrency trading by making it easily accessible to all types, classes and grades of users, safe and free of potential security failure points, and with a wide scope of application and uses within the ecosystem. The team behind SLT has several years of online work experience, and what unites all of them is a shared experience of the same operational problems present in terms of investing in the cryptocurrency market. SLT is the result of years of thought and research into how to adequately solve the problems once and for all and even create extra value for market participants into the bargain. INTRODUCTION Before going further in the paper, there are a few terms and concepts that need to be properly defined before the reader can fully appreciate the ideas and solutions that will be proposed later on. The first of these terms is blockchain. A blockchain, according to the standard definition is a network that is decentralized and distributed across all its nodes so that the network cannot be compromised by any single node. In plain English, what that means is that a chain of little bits of data called ‘blocks’ being created, updated and stored across several different locations in real-time is called a ‘blockchain’. The major difference between blockchain networks and regular centralized networks is that unlike the latter, blockchains do not have a “server” or a “headquarters” where isolated information exists in a silo. Blockchains rather use the entire network of nodes as their storage and processing capacity, and each node has a copy of the blockchain which is constantly in communication with the others, verifying transactions and comparing information to make sure the data across all of them is exactly the same. If any single node has data that does not match with that on the rest of the blockchain network, it is immediately isolated as a compromised node and the network automatically excludes it and keeps on functioning. What this means to the uninitiated is that blockchains are very secure, possessing no single location that can be hacked or compromised in any way, and not permitting any variation in data across network nodes. Data stored on a blockchain is thus practically immutable and unchangeable, which make it ideal for recording sensitive data like transaction records and medical records. The second term to be examined is fiat currency. A fiat currency is basically the money most people are used to, which is in either cash or electronic form. The distinguishing features of every fiat currency are that they always have a central issuer – usually a government or a central banking institution – and their use and relative value is constantly managed by these issuers. Unlike blockchain-based solutions, they are all built on centralized rather than distributed infrastructure, which makes them a constant target for hackers and fraudsters. They also contain identifying information unlike digital tokens. A third term that needs to be explored is cryptocurrency. A cryptocurrency is a representation of a digital asset, and it is also sometimes referred to as a token or a coin. Cryptocurrencies contain no information that can be used to personally identify their users, and as such they have gained popularity around the world for a variety of reasons as ‘anonymous currency’. In places like Zimbabwe, Venezuela and Greece for example, in response to crippling capital controls imposed by the government which severely limited the amount of money allowed to be taken out of the country, a huge number of people turned to Bitcoin and other cryptocurrencies as an undetectable means of transferring their wealth abroad. A vast number of cryptocurrencies exist currently, ranging from the ubiquitous Bitcoin (BTC) and Ethereum (ETH) to a basket of currencies including Ripple (XRP), Litecoin (LTC), Dash (DASH), Monero (XMR), Lisk (LSK), TRON (TRX), ICON (ICX), Stratis (STRAT), Zcash (ZEC), Nano (XRB), Steem (STEEM), Bytecoin (BCN), and Populous (PPT), amongst others. For the purposes of this paper, the cryptocurrency that will be focused on is SLT, which is the native currency of the SLT platform. Another concept that needs to be defined is the smart contract. A smart contract is a method of exchanging value between two or more parties using the blockchain as a tool for validation and escrow. Using a smart contract, a seller and a buyer involved in a peer-to-peer transaction do not need to have a middleman interceding between them to ensure that the right exchange is made at the right time. Rather, a set of conditions, instructions and parameters is coded into the blockchain, and the buyer deposits their cryptocurrency into a safe wallet under the care of the smart contract protocol. Once the buyer confirms that they have received the requested value from the seller and it is acceptable to them, the smart contract automatically releases the payment to the seller. Doing business by smart contract is an idea that started off as a novelty and is rapidly taking off, as it removes the burden of validation from both parties involved in a transaction and saves them the cost of a human middleman or bank charges involved in actual escrow transactions. Most smart contracts nowadays are built on the Ethereum blockchain, which is especially optimised to aid peer-to-peer transactions. The final term that will be defined is cryptocurrency exchange. Also often referred to as “exchanges”, these are institutions that enable users to exchange cryptocurrencies for other cryptocurrencies and fiat currencies. In effect, they serve as intermediaries between cryptocurrency buyers and sellers, connecting demand with supply and enabling buyers to make their desired purchases using cryptos or fiats of their choice, according to which ones are supported by the individual exchange. In the world of buying and selling cryptocurrencies, exchanges are the engines of the industry, in a similar way to how banks are the drivers of offline economies. The level of speed and security offered by a cryptocurrency exchange is often the difference between a profitable transaction and an unqualified loss. In a market as dynamic as cryptocurrency trading, delays of even a few minutes can have dramatic results, as big hitters like Bitcoin have been known to lose as much as 50% of their value in just a few hours. In order for cryptocurrency trading to be able to go truly mainstream, it is imperative that an exchange solution will be created that enables users and investors to move seamlessly through the market and execute transactions instantaneously, as is obtainable in fiat currency markets. PROBLEM STATEMENT Presently, cryptocurrency trading is not suffering from a lack of interest, but there is a considerable infrastructural barrier to entry into the market. The available platforms generally cannot deal with the sheer volume of transactions and the required speed of processing transactions, causing many existing and potential investors to become frustrated and lose interest in the market. The three major problems facing the cryptocurrency buying and selling space can be itemized and broken down as follows: - Lack of speed: In the space of a few minutes, it is not unheard of for cryptocurrencies to gain as much as 30% on the market. As with any other type of dynamic market trading activity, the ability to predict and react to quick-fire changes is key to the profitability of the trading operation. When market participants are not able to get their purchase and selling orders processed in a manner that matches the dynamism of the marketplace they operate in, this usually results in losses and a resultant loss of appetite for involvement in that market space. - Security breaches: Trading platforms and cryptocurrency exchanges have been the targets of sustained and regular attacks from hackers, fraudsters and a number of other undesirable elements. In a few high profile cases, they have actually been successful, eventually making away with hundreds of millions of dollars’ worth of client cryptocurrency funds and leaving both platform and customer financially wrecked. A few customers who have managed to get past the buying and selling process with no incident have had the misfortune of using exchanges without adequate cybersecurity measures in place, and this has led to their cryptocurrency wallets being hacked, and millions of dollars’ worth of anonymous, untraceable coins being stolen. These stories also receive a substantial amount of media airplay, which feeds into an existing narrative of cryptocurrency being some sort of scam, and this further alienates potential investors and participants. - Transaction fees: Several platforms have delivered unpleasant surprises to their users in the form of excessive transaction fees. Perhaps as a result of the lack of volume resulting from their poor trading infrastructure and bad liquidity position, a number of cryptocurrency trading platforms try to make up for the revenue lost to poor transaction volumes by charging high transaction fees. In essence, the idea is that instead of fixing the problems leading to slow transactions and the resultant low transaction volumes, users would simply be charged more to make up for the revenue shortfall. This means that investors lose both ways, both to the low speed transaction execution and poor security offered by most existing cryptocurrency trading platforms, and high transaction fees for the few trades that do manage to go through. SLT FRAMEWORK Using these problems as an existential barometer, SLT has created a trading platform that is focused on the needs of its users before anyone else. The platform focuses on revolutionizing transaction speeds and achieving instantaneous execution by making use of blockchain processing instead of centralized processing. This solution will also exponentially improve upon the existing security profiles of competing platforms because it is practically impossible to hack a blockchain. Use of the SLT token will also eventually reduce transaction fee and speed up transactions using blockchain technology. Platform Goals The overall aim of SLT is to create a fast, simple, safe and clearly defined platform that everyone can understand without hidden intentions and costs. The platform also aims to emulate the very operational logic of the blockchain in its operations by catering to a decentralized market. Instead of appealing to only a fraction of the available global market, SLT will allow anyone to have access to the platform, and it ensure that equal chances are given to all members to earn. The final aim of SLT is to be able to deliver on the promise of instant payments and withdrawals using blockchain technology. Future Expansion Plans The launch of the SLT token is a part of a strategy that will be instituted to reduce transaction fees for users and eventually to speed up transactions. A key part of this strategy is the opening of the SLT cryptocurrency exchange. Combining these two solutions, it is the hope that users who currently face problems with opening different wallets and with withdrawing money they earn can find a quick and easy resolution to these issues. The platform will have a wallet exchanger and a digital asset exchanger in one place for the first time, giving users as much flexibility as they need to access and convert their money rapidly so as to be able to keep up with the dynamics and vagaries of the cryptocurrency trading market. Eventually, it is expected that users will even have the opportunity to make payments and withdraw money using the SLT Card, which will be integrated with major existing fiat providers to give maximum flexibility across crypto and fiat channels to SLT platform users. Pre ICO – 1 million 1st Round - 1 million 2nd Round - 3 million Price in Pre ICO= 0.10$ Price in 1.round =0.30$ Price in 2.round =0.50$ Action Plan Adding SLT on other exchanges Digital asset Exchanger ( multi-cryptocurrency exchange) Listing on CoinMarketCap Wallet exchanger Debit Card and adding other cards that will allow buying and withdrawals Mobile app available for iOS and Android Referral bonuses in ICO period: 5% 5% Bonus from each purchase made from your referral Roadmap December 2017 Completion of platform conceptualization and ideation processes, followed by the commencement of preliminary development, design and integration work. March 2018 Pre-ICO begins: At this stage, investors will be able to buy SLT tokens at a special price of $0.10, which gives them a first-mover advantage over later investors during the ICO. ICO commences: The ICO will hold in two stages, giving investors the opportunity to purchase SLT tokens at $0.30 and $0.50 respectively, following a price-rise caused by the pre-ICO demand. March 2018 ICO ends: Investors will no longer be able to purchase SLT tokens directly from the ICO platform, but the tokens may be available from third party platforms like cryptocurrency exchanges. 2018 (all-year) Development and integration of Digital asset Exchanger ( multi-cryptocurrency exchange) and Wallet exchanger, develop breakthrough blockchain technologies Launch of mobile app for iOS and Android 2019 The full SLT platform will be launched offering the complete range of proposed functionalities after a year of development and integration. Later that year, the SLT card will also be launched, giving users extra flexibility across various fiat and cryptocurrency exchange mediums. CONCLUSION SLT is the long-awaited platform that will permanently change how casual users and seasoned investment veterans interact with the cryptocurrency trading market. The important ways in which SLT will revolutionize the cryptocurrency trading space are as follows: The platform will severely cut down on time lost due to transaction delays and slow execution Making use of the multifunctionality of a wallet exchanger and a digital asset exchanger in the same place, the SLT platform will exponentially increase the speed with which users may access their funds and convert them into the desired format of their choice SLT will make use of blockchain technology to substantially increase the speed of transaction processing. Currently, many competing platforms make use of silo processing, which is heavily limited by available physical infrastructure. SLT embraces the blockchain at an elemental level, applying the principle of group processing to free up what has hitherto been an operational bottleneck. The use of blockchain technology as the basis of the platform will increase its security profile and make it an exceptionally difficult target for hackers, thieves and fraudsters. The SLT token will provide an quick and easy platform for cryptocurrency trading for users who do not want to deal with the delays involved in opening and accessing different wallets. Users of SLT tokens will experience substantially reduced transaction fees in addition to enhanced transaction speed Eventually, the launch of the SLT Card will take the concept beyond the point that the entire industry is at right now. This card will be used both as a means of paying in and withdrawing money from the platform, and its activation with a major real-world fiat provider will give users a totally unprecedented level of inter-connectedness between cryptocurrency coins and fiat. DISCLAIMERS The SLT service and the SLT platform are provided strictly on an “as available” and "as is" basis. No assurances or representations of any type, direct or otherwise, are made regarding the operation of the service or the content, information, materials, or products displayed on the website. No express or implied representations or warranties regarding the SLT service and website, or the products or services provided therein are made. Therefore, any implied warranties of SLT merchantability, fitness for a particular purpose, and non-infringement are expressly disclaimed and excluded. In addition, we make no representation that the operation of our service will be uninterrupted or error free, and we will not be liable for the consequences of any interruptions or errors be they direct, secondary, related, penal, or consequential. SLT, its officers, representatives, employees, managers, and salespersons, shall not in any way hold any liability for any loss/damages (direct or indirect) rising out of or in connection with your use of or your inability to use the SLT service and website, even if we have been duly advised of the possibility of such damages. SLT is not an investment. There is no guarantee that the SLT you purchase will increase in value and/or provide any return. SLT does not confer exclusive ownership or arbitrary right to control. Possession of SLT tokens does not grant the holder exclusive ownership or sole equity in the SLT platform as a whole. No one individual has exclusive rights or power over the SLT platform. The purchaser’s SLT can only be accessed with login credentials selected by the purchaser. The loss of these credentials will result in the loss of SLT. To prevent such a situation, it is strongly recommended that the holder should safely store credentials in one or more backup locations that are geographically separated from the working location, and are accessible in the event of an emergency. As they grow in popularity and application, Blockchain technologies have also become subject to regulatory attention and action by government and financial industry organisations around the world. The functioning of the SLT platform and SLT tokens could thus be impacted by any regulatory inquiries or actions, including but not limited to restrictions on the use or possession of digital tokens like SLT, which could impede or limit the development of the SLT platform. Following the token sale and the development of the initial version of the SLT platform, it is possible that blockchain-based platforms could be established, which operate using same open source code and open source protocol underlying the SLT platform. The SLT platform may have to compete with these alternative platforms, which could potentially negatively impact the performance of the SLT platform and SLT. It is possible that the SLT platform will not be used by large numbers of individuals, and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the SLT platform and therefore the potential uses or value of SLT. The SLT platform is presently under development and may undergo significant changes before its full release. Any expectations regarding the form and functionality of SLT or the SLT platform held by the purchaser may not be met upon release, for any number of reasons including a change in the design and implementation plans and execution of the SLT platform. Hackers or other groups or organizations may attempt to interfere with the SLT platform or the availability of SLT in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. The SLT platform consists of software that is based on open-source software. There is a risk that the SLT team, or other third parties may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of the SLT platform, interfering with the use of or causing the loss of SLT and/or SLT. Advances in cryptography, or technical advances such as the development of quantum computers, could present risks to crypto currencies and the SLT platform, which could result in the theft or loss of SLT and/or SLT. While SLT should not be viewed as an investment, it may return value over time. That value may be limited if the SLT platform lacks use and adoption. If this becomes the case, there may be few or no profits to draw from, or even a loss of your initial investment. It is possible that the SLT platform malfunctions in an unfavorable way, including but not limited to one that results in the loss of information or data. Crypto-currency is a relatively new and untested technology. In addition to the risks set forth here, there are risks that the SLT team cannot anticipate. Risks may further materialize as unanticipated combinations or variations of the risks set forth here.
Bitcoin is a digital or virtual currency. It is a form of cryptocurrency. As a new user, you can get started with the bitcoin without understanding the technical details. – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 89e31a-ZTQ0Z Ppt Bitcoin Bitcoin Cryptocurrency DIGITAL CURRENCY: Its nothing but the currency VIRTUAL CURRENCY: Has typically referred to online only currencies that do not live outside the Internet and can only be exchanged on the CRYPTO CURRENCY: Currency that are control by cryptography i.e. creation and transaction. Bitcoin security. Computers accept the longest block chain, which inhibits hacking. Hackers would have to create a longer chain of fraudulent information faster than the combined effort of all other computers. Public/private cryptography means individual bitcoins are secured when not being transacted. BITCOIN: Cryptography, Economics, and the Future by Starry Peng Advisor: Nadia Heninger EAS499 Senior Capstone Thesis School of Engineering and Applied Science University of Pennsylvania December 10, 2013 . 1 1. INTRODUCTION In today’s world, the increased connectivity provided by the Internet has changed the nature of financial transactions. With recent developments in social media, peer-to ... An Introduction to Blockchain Technology - Since Bitcoin utilized some basic ideas of cryptography, it got placed under the category of cryptocurrency. Initially, the main motivation behind Bitcoin was for money related exchanges, however, specialists and researches understood the immense possibilities of the technology that it can bring in for several industrial platforms . Since Bitcoin ...
John Wagnon discusses the basics and benefits of Elliptic Curve Cryptography (ECC) in this episode of Lightboard Lessons. Check out this article on DevCentra... It's a database which is growing list of records, called blocks, that are linked using cryptography. 4 main Bitcoin Disadvantages Transaction fees - Bitcoin transaction fees are still relatively ... Today we’re going to talk about how to keep information secret, and this isn’t a new goal. From as early as Julius Caesar’s Caesar cipher to Mary, Queen of S... Finance Jobs Explained (excerpt from "The Complete Financial Analyst Training and Investing Course" by Chris Haroun Ventures/Complete Business Education Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Da...