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Category: Crypto

Blockchain basics: What is a blockchain token?

The astronomical change in the way technology is perceived by financial experts has made a lot of heads turn, the underlying strong data-centric and highly secure blockchain have a mad immense impact. The smart internet money that has made a lot of chaos and rally with the traditional fiat currency owes to the highly complex and secure blockchain that is a distributed ledger storing all information in the cloud space or network.

Storing data on a ledger that is in form of blocks, you can save as much as data, documents, information in the ledger that is in a distributed form, that is stored forever, there can be no editing made in the block stored as it is immutable. Another very interesting feature this technology has given is the

  • A token that is digitally encrypted code, in form of digital asset that has no physical presence
  • it is a mirror of the physical asset that is created in digital space, once the assets are tokenized they can be exchanged for real assets that are enabled with the help of blockchain technology
  • though the cryptocurrency themselves are like tokens, as they can be converted into fiat currency depending upon the type of coins and the exchange where they are paired with
  • Venture capitalist and ICO has brought the tokens into the mainstream, the number of new enterprises that have raised funds to meet their working capital requirements has drawn towards the tokenized concept of issuing the internal coin offerings

The basic idea was to make the ease of conducting transactions online using the blockchain, and understands the open system of owning assets in the digital form; however, there are questions about is coinspot safe and the security of the tokens itself in the digital form. Holding the tokens in private wallets that are encrypted to keep the codes safe is a minimal requirement.

 

 


4 Tech Tips Before Investing in Cryptocurrencies

Cryptocurrencies are defined as a decentralized cryptocurrency that is used as a currency in electronic transactions, cryptocurrencies have really changed our usage of currencies and how people pay for items and invest in markets. We’ve noticed the skyrocketing popularity in the drastic price increases of over 1000% from less than 1,000 dollars in 2016 to almost 20,000 in December 2017, the sudden surge in value caused people to start putting their money into cryptocurrency investments. To this day, hedge funds, banks, normal investors falling victim to the fear of missing out are now trying to get into the cryptocurrency rage.

Now is cryptocurrencies (and cryptocurrency icos) good options for investments in 2018? We’ve written this great article with 4 tech tips to look into before investing into a cryptocurrency.

As of now, the most defining chrematistic of cryptocurrencies are their resemblance to bubbles, world economists have called Bitcoin the “Mother of all Bubbles”, and for sure, Bitcoin has certainly for a while gotten larger than the dot-com and tulip bubbles in the 2000’s and 1500’s Netherlands, this is essentially a truth for practically all market analysts, many of whom have been completely going bananas over the potential “end of the paper and check” based world, however, those who have studied cryptocurrencies in-depth will know the truth of the situation and not panic. The new investment opportunities created have been endless and will continue to be endless.

The most basic tenet of cryptocurrencies to understand is the importance of security.

One of the most serious problems in cryptocurrencies are data security, in the recent news, we’ve seen the effect of attacks on exchange platforms like Binance which led to the theft of assets worth millions of dollars. Make sure to understand this fundamental tenet.…


How Technology Will Change Our Lives in Big Ways in the Next 10 Years

Learning about technology is so much fun. trulycoin.com is one website that talks to you about the most interesting side of technology. If we look at technology it has been explosively progressing in the last few years. So how will it change our lives in the next ten years?

Cloud computing would change the way we store data

As there is more and more data being consumed and fed to the internet people are looking for more space for storage. Be it an individual user or an organization there is always the need for scalable storage and Cloud storage is the perfect answer to this. Cloud storage would also bring the ease of accessing data from anywhere. Data backup and recovery would also be made simpler.

Blockchain would improve the security

When there is so much data being handled incorporating a security system would be critical. This is where Blockchain comes into the picture. Instead of having a centralized database Blockchain creates a decentralized system which is transparent.

IoT would connect devices and the users

IoT would help users communicate with their devices and allow the devices to communicate with each other. By incorporation of sensors in the various appliances and gadgets around the house, users would be able to track the status and control their appliances remotely.

The workplace of the future would be so much different from what it is today

The workplace of the future is all set to become more employee friendly. Telecommuting is becoming a trend in most organizations. Businesses now understand that an employee friendly convenient workplace can help improve the productivity of the employees. So besides focusing on the customers alone, businesses now focus also on the employees.

Technology has been bringing a lot of benefits for the businesses and the end users alike. The next ten years are sure to be big for all of us.…