Defining Bitcoin and cryptocurrencies in mainstream terms has never been easy. After all, how can it ever be? Cryptocurrencies are revolutionary, they were Cryptocurrencies are digital currencies that don’t physically exist. All trading, exchange, possession, and payment is virtual – via cryptography. Latest News The massive hack of which Twitter was victim on July 15, 2020 aimed to steal Bitcoin from gullible people. It’s likely that some people will confuse the Twitter hack with the Bitcoin hack. However, Bitcoin has never been hacked since its creation more than eleven years ago. This hack is rather an opportunity to learn …
Defining Bitcoin and cryptocurrencies in mainstream terms has never been easy. After all, how can it ever be? Cryptocurrencies are revolutionary, they were never meant to be confined to the traditional definition of concepts. The example of how difficult it has been to define cryptocurrencies in legal terms is a case in point.
However, whenever law and Bitcoin are spoken of in the same sentence, most of the conversation revolves around crypto-regulations (or the lack of it), governments, and enforcement agencies like the SEC. That’s all well and good, but a focus on these subjects often dissuades people from focusing on other legal aspects. This is why when people like Craig Wright “get” a copyright on Bitcoin’s whitepaper, people freak out and overreact.
On the face of it, Bitcoin and the concept of Intellectual Property, together, do not compute. That’s true, they really don’t. Why then even consider computing them then? Well, reasons.
Ordinarily, asserting one’s intellectual property, whether by patents, copyrights, trademarks, or trade secrets, is a badge of ownership. When it comes to cryptocurrencies, that’s not possible. Makes sense, right? Well, not really, because as pointed out previously, cryptocurrencies cannot be confined to air-tight definitions and concepts. And that ambiguity breeds chaos.
One Mark, One Source to rule them all….
Just look at Trademarks for a second. The World Intellectual Property Organization defines Trademarks as “a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises.” Sounds pretty straightforward to anyone who hasn’t ever gotten confused between the symbols of Bitcoin, Bitcoin Cash, Bitcoin SV, and Bitcoin Gold (Yes, that too).
Now, trademark and intellectual property laws, in general, vary from country to country. This is the case even when such laws are standardized to the best of a legislature’s ability around the framework provided by WIPO, the TRIPS Agreement, and the Doha Declaration of 2006. This lack of uniformity can have far-reaching implications for conventional industries like pharmaceuticals and agriculture, and new ones like the cryptocurrency industry.
Think about it – The basic premise, the core tenet of any trademark law is the maxim “One Mark, One Source.”
How would you define what one means by “One Source” when it comes to Bitcoin? You can’t. Why? Because unlike the McDonald’s Corporation owning those iconic golden arches in the form of a symbol trademark, no one owns Bitcoin. In fact, no one owns cryptocurrencies really. There is no central authority or institution that can stake a claim to ‘owning’ Bitcoin.
Bitcoin has no single place it operates from and has no physical location. In fact, it can be argued that the world’s largest cryptocurrency, like the Internet, is a global good. This is what Preston Byrne calls the “Forum problem.”
You just got owned
But, wait. Don’t people ‘own’ Bitcoin and cryptocurrencies? Well, yes and no. Yes and no because even something as simple as defining ownership sounds complicated when it comes to cryptocurrencies.
Ownership, in the cryptocurrency industry, is a concept that exists in the gray area of legal ambiguity. Think about it – When I say I own Bitcoin (I don’t, but let’s pretend I’m rich), I usually refer to me having de facto ownership. Just like I would stake claim to owning the pennies in my pocket. However, when it comes to cryptocurrencies, what will the idea of de jure ownership entail?
Well, it would probably help if we define what ‘owning’ Bitcoin really means. When people say they ‘own’ Bitcoin, they own a part of the Bitcoin UTXO that is uniquely assigned to them, by virtue of the corresponding private key.
By virtue of the corresponding private key, which means that as lawyer Knut Karnapp puts it, “As far as the Bitcoin network is concerned though the private key grants power of disposition to whoever is in possession of the said key.” By extension, this means that if someone loses their private key, they lose their Bitcoin. And, if the private key gets stolen, for the purposes of the Bitcoin network, the powers of disposition will lie with whoever is in possession of the private key, even if the law were to say otherwise.
Alas, the ownership of Bitcoin and cryptocurrencies isn’t the only question that treads the gray in the black and white of law.
Just a math problem?
What is the nature of Bitcoin? Well, that’s a tricky one because different jurisdictions see the world’s premier cryptocurrency differently. Answers differ and thus, by extension, how they are regulated across the world differ too. This is what Preston Byrne calls a “classification problem.”
Just consider how we talk about Bitcoin in common parlance. If Roger were to send some Bitcoin to Ashley, he would say “I transferred some Bitcoin to Ashley.” Transferred. That word alone implies the treatment of Bitcoin as a property. And while that may not be a universal opinion yet, it is important to ask whether it really is property.
According to Byrne,
“… Bitcoin is really, in its purest essence, only a solution to a randomly-generated math problem. Because the problem is very hard, the combination of a UTXO plus the ability for a recipient to spend it, armed with the knowledge of the relevant private key, is treated by most of us today as property.”
A randomly-generated math problem. Such a clarification on the actual nature of Bitcoin has critical implications. As Edan Yago, Founder of CementDAO said, “crypto-assets are not property as they are not determined by law, but by maths.”
The fact that there is also some debate on whether certain crypto-assets are, in fact, securities, highlights the ambiguity that accompanies the nature of cryptocurrencies across different jurisdictions.
Thus the question arises – Can Bitcoin satisfy the “One Source” part of the maxim that is at the heart of trademark law? Probably not.
What’s wrong with Craig Wright?
Remember when I said many people freaked out and overreacted to the news that Craig Wright had been granted a copyright on Bitcoin, well, they were mistaken to do so. For starters, Wright wasn’t ‘granted’ a copyright; instead, his application for the same was merely registered by the U.S Copyright Office.
As CoinCenter’s Jerry Brito was quick to clarify, the Office doesn’t verify the validity of the claims, but instead, it just registers them. In case of competing claims coming in, they just register all of them, he added. Simply put, these claims and registrations are worth almost nothing.
In fact, Wright might have a better chance if he registered a trademark claim instead, with many claiming that he could then prevent other groups from using this name to pass off their cryptocurrencies as the “real” Bitcoin. But, will he? I’m not sure. After all, there are already dozens of trademarks on Bitcoin. And, nobody ain’t doing anything about that.
Why then? Why would Wright go to such lengths for some bragging rights?
Craig Wright, for a few years now, has been one of the foremost proponents of Bitcoin SV [BSV], a fork coin of Bitcoin Cash [BCH], a crypto that was itself a fork of Bitcoin [BTC], with the animosity between these camps rivaling their disdain for altcoins. This animosity was only made worse after Wright resurrected his old claim of being Satoshi Nakamoto, despite it being seemingly proven otherwise.
This animosity may be a good place to start when speculating what may be behind all this hoopla. What if at the end of it all this is just a classic case of one-upmanship? What if this is yet another case of tribalism in the crypto-community? Well, that may be so, but perhaps, we’ll never know. After all, the answer lies in Craig Wright’s head and in light of the fact that he has come under fire lately in the Kleiman suit for his conflicting testimonies, I don’t think much reliance can be placed on that either.
No right answer
To be honest, it doesn’t necessarily have to be related to tribalism and one-upmanship either. It can be merely be something that is held as a badge of honor, one that takes advantage of regulatory oversight. After all, how else would you explain the fact that despite the lack of regulatory clarity associated with the nature of cryptocurrencies, claims have been registered on them all across the world?
In fact, what better example than the fact that even the Escobar family, briefly, claimed having registered Bitcoin in the U.K?
Craig Wright and whoever runs the Escobar family these days might tell you that they have the ‘proper claim’ to Bitcoin. Well, that’s what they say. But, what does Bitcoin say?
Bitcoin, when it emerged, was registered under the MIT license, a licensing regime under which permission is granted to “use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software.” Simply put, because Bitcoin is supposed to be an open-source software project, innovation and collaboration are enabled, and because they are, Bitcoin might not be able to satisfy the rules at the heart of intellectual property laws.
Now, if anyone will volunteer to tell Wright that, I would really appreciate it.
Author: Published 21 hours ago
Step Into the World of Cryptocurrencies: Trends and How to Trade Them
Cryptocurrencies are digital currencies that don’t physically exist. All trading, exchange, possession, and payment is virtual – via cryptography. It’s a coded system that controls transactions, verifies them, and controls the influence of new units. Different cryptocurrency units operate on different cryptographic systems.
Although it isn’t possible to own this currency in physical form, it has value and can be exchanged for traditional money or goods. Every day, an increasing number of companies are starting to accept cryptocurrency as a valid currency for payment.
Cryptocurrencies are different, but the mere functioning of the crypto network is the same. There are two types of participants: those who own a cryptocurrency and make transactions for money – passive and those who, in addition, actively participate in earning additional cryptocurrency.
These active participants are called miners. They compete to be the first to enter the transaction that took place. Of course, this isn’t easy. Through special computer programs (very expensive), they discover which part is missing in the code, which will then fit into the financial book of all previous records – blockchain. The name itself says that these are individual transactions that are connected in a chain.
Miners receive a commission from those who trade, but also a reward that’s prescribed in advance by the program for the solved problem. Exactly when the system rewards miners, it gradually adds a new cryptocurrency to the maximum specified amount that’s predetermined when creating the cryptocurrency.
The first versions of cryptocurrencies attracted a large number of users, there’s a large volume of the trade so that cryptocurrency is added quickly, while with young virtual money it goes slower.
We mentioned that the connection to the entire network is a digital wallet that contains your tag – address and security key. This is what it takes to own and trade digital money.
There are several ways to create digital wallets and the forms in which they exist:
It’s very important to choose the right digital wallet because it contains a private key which is the only connection to your cryptocurrency.
There are several ways to buy and sell digital money. The most universal ways that suit most cryptocurrencies are:
The first form of cryptocurrency that survived was Bitcoin (BTC). It was created after the 2007 – 2008 financial crisis, and maybe that’s why it isn’t such a coincidence that it remained in circulation. It was created by an individual or group of people named Satoshi Nakamoto in 2009 when people lost confidence in mutual funds, lost a lot of money, and needed a currency that would be more stable.
Bitcoin is the first cryptocurrency that’s decentralized, so no individual has absolute power and thus there’s no manipulation of transactions or the number of money in circulation. There’s no central bank to regulate the exchange rate through monetary and fiscal policy. Supply and demand are the only ones that form it.
This cryptocurrency is increasingly recognized in the payment system. Apple, Microsoft, hotel chains, the real estate market…allow paying with BTC. Now it’s easier to accept other cryptocurrencies (Ethereum, Ripple, BitcoinCash, Neo, Litecoin, Dash…). Today’s Bitcoin price makes it the most valuable cryptocurrency on the market.
Author: By Crypto Advertising
– 19 Jul 2020
How to invest in cryptocurrencies – part 2 – Bitcoin Isle
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We began, last week, to look at cryptocurrencies that create value with innovation and business applications. Cardano, Tezos and Binance Coin are in focus.
One of the best-known of these is Cardano (ADA). The crypto was invented by Charles Hoskinson, a mathematician and a collaborator in the creation of Ethereum.
There is about $4 billion invested in Cardano, and about 40 billion coins extant. This makes it one of the most secure of existing cryptos, even though the price of an ADA has not risen above $0.13 for some time (it has gone up to $1.18 in the past).
But, in investing in Cardano, you are participating in a scientific project of considerable prestige.
Cardano set out to create a cryptocurrency and blockchain that would be a distinct improvement on ether and bitcoin both. Cardano was launched in September 2017 via ICO. The project would create a network that values privacy and security, but at the same time met the needs of regulators as well.
The Cardano blockchain is built in two layers: The settlement layer has the account units, while the control layer runs smart contracts. The control layer will be programmed to recognise identity, assuring compliance and enabling management of users.
As a whole, the protocol’s design is geared towards protecting privacy rights of users, while also taking into account the needs of regulators.
Cardano uses proof of stake, which is a blockchain design that adds a mechanism to introduce secure voting, has more capacity to scale, and permits a greater choice of incentive schemes.
With proof of stake, to add a block to the blockchain, investors must first stake some of their coin, and then choose a potential block. Investors with stakes also vote on changes in policy or other issues that affect the cryptocurrency as a whole.
Cardano’s proof of stake protocol is called Ouroboros and it has been designed by an extremely talented team of cryptographers from five academic institutions led by Professor Aggelos Kiayias of the University of Edinburgh. It offers modular and flexible design that allows for the composition of many protocols to enhance functionality.
However, it has also been proven secure, and it operates with a high level of decentralisation.
All of this is to say that Cardano is here to stay, and has a good chance of rising in value. As it does not seem to be very volatile, most investors see it as a long term investment – one that can be had cheap at the price.
Tezos (XTZ), the tenth-largest crypto in market cap at $2.3 billion, is also a purveyor of a new blockchain technology, but with a very different approach from that of Cardano.
With its current price at $3.10, Tezos has had a more active investment history than Cardano. It has been volatile, but has never traded higher than $4.00. Investors are more likely to see a short-term profit with Tezos than with Cardano, however.
Tezos (XTZ) is a multi-purpose platform that supports decentralized applications (DApps) and smart contracts. It was developed by Arthur Breitman, with support from his wife Kathleen Breitman, and launched an initial coin offering (ICO), based in Switzerland, in 2017 that raised $232 million – one of the largest ICOs in history. A year after the ICO, Tezos launched its beta network in July 2018.
Tezos addresses key barriers facing blockchain adoption to date: smart contract safety, long-term upgradability, and open participation.
What’s special about Tezos is that it upgrades itself. Bitcoin, for example, must ‘fork’ each time a change in the functioning of the blockchain is to be made.
The Tezos platform is self-amending. “Self-amendment allows Tezos to upgrade itself without having to split (“fork”) the network into two different blockchains. This is important as the suggestion or expectation of a fork can divide the community, alter stakeholder incentives, and disrupt the network effects that are formed over time. Because of self-amendment, coordination and execution costs for protocol upgrades are reduced and future innovations can be seamlessly implemented,” as the crypto’s website explains.
Like Cardano, Tezos offers a platform to create smart contracts and build decentralised applications that cannot be censored or shut-down by third parties.
But Tezos offers a further innovation in the form of formal verification of smart contracts, an additional layer of security that makes it attractive to companies for automated operations. About thirty companies around the world currentl use the Tezos platform for a variety of applications.
Tezos also utilises Proof of Stake to build the blockchain. This creates a commitment between investors and the platform.
With these two, highly technical cryptos, it’s worth taking a look at Binance Coin (BNB), which works on a kind of gimmick.
Binance is the world’s largest cryptocurrencies exchange; it trades more than 100 cryptos. It launched Binance Coin in 2017 with the simple object of having its own cryptocurrency to use in trading. Today it has a coin cap of 200 million, and a market cap of $155.5 million.
The Binance Coin ‘gimmick’ is what the exchange calls “the quarterly burn.”
“In short, every quarter 20 of the exchange’s profit is spent to buy back and subsequently burn the tokens (sending them to an address that cannot be accessed). It’s a mechanism used to increase the value of each coin by decreasing supply.”
This is highly controversial, because many crypto experts believe that there is no direct link between coin supply and price. It is rather the speed of circulation that has an effect on price, they say, but this is a very complex area.
We can simply observe, for now, what happened to the Binance Coin price after the last quarterly burn. For the 11th quarterly BNB Burn (January to March 2020), Binance burned 3,373,988 BNB, equivalent to $52.5 million worth of tokens.
The price of the token, however, did not rise sharply. It stayed between $15 and $16 (approximately) throughout that time). Currently the price is $16.10 and the historic high is $39.68.
Will Binance Coin rise sharply in value? As Binance expands as an exchange, it acquires more users and hence greater demand for the coin, whose supply is fixed. More users also mean more rapid circulation, and that factor may boost the price of the coin. There is little risk with Binance Coin, but there is also little certainty about return on investment.
We’ve tracked some of the best crypto investments in this series, and will, from time to time, come back to the topic as new possibilities emerge.
Top 20 Cryptocurrencies You Should Invest in 2020 (The Complete Guide) – Conservative Investing News
Among other commodities, cryptocurrency will continue to be in the buzz for investment this year. And why not? If we pick the returns graph of the last 10 years, cryptocurrencies have been among the highest yielding investment products.
So, if you are planning to invest in cryptocurrencies this year, some obvious questions may be bothering you, like:
Which new cryptocurrencies should I invest in?
Will bitcoin still be profitable in 2020?
Should I increase my stake in ETH?
If you are wondering the same things, you’re at the right place. In this article, we will talk about the top digital currencies that are worth looking into for investment this year and beyond.
Why invest in cryptocurrencies, and not just put all your money in stocks?
On the other hand, if you are wondering why you shouldn’t just put all your money in stocks or mutual funds rather than investing in cryptos, I have one answer for you – High returns.
For most of us, the primary reason to invest in something is high returns. We all want to invest in commodities that can give us huge returns, preferably in two digits, but at the same time, we do not want to take high risk.
So, I say invest in cryptocurrencies that have a similar risk factor as any other market-linked commodity such as stocks or equity, but they can give much better returns than anything you’ll ever get with traditional markets.
For instance, the value of bitcoin increased by more than 10 times (1000% return) between May 2017 ($1,808) and December 2017 ($19,140). Not any other commodity in history has managed to give such huge returns.
Now, I’m not saying that you can expect such big returns from every cryptocurrency or again and again, but most of the good coins still produce returns higher than most other markets. So, it’s usually more beneficial to invest in cryptocurrencies than stocks or other assets.
And of course, there is the underlying technology – blockchain – that seems to have great potential and usability in digital payments, data storage and various other industries.
Now, let’s get back to our original topics. Here are the
Bitcoin continues to remain the number one choice for both the existing and new investors in the crypto space. The previous few stints (2017, 2019, etc.) have done much good for the value and popularity of the cryptocurrency. Many investors are even hopeful that the Bitcoin price may touch a new record-high this year.
One thing that, however, may slightly impact the ever-rising popularity of bitcoin is the upcoming halving in May 2020 when the miner rewards for Bitcoin will be reduced to half, 6.25 BTC from the current 12.5 BTC per new block. However, it is still being expected that the currency will continue to dominate the market with a 65-70% share in 2020.
ETH, which is the native cryptocurrency of the Ethereum blockchain network, is probably the only digital coin that has managed to come close to the popularity and reputation of Bitcoin.
It’s an altcoin that utilizes practical smart contracts designed in such a manner that they can be used in a variety of real-world applications for performing transactions in a highly secure, decentralized and peer-to-peer fashion. Unlike Bitcoin, the value and demand of the ETH are mostly fueled by its usability and the high demand for its blockchain and applications that can be easily customized to build other decentralized applications, currencies and smart contracts.
Ripple is an all-time favourite cryptocurrency of many investors like me. Reason? Besides bitcoin, Ripple is probably the most used coin for cross-border payments by many leading financial institutions, including banks, around the world.
Besides acting as the primary currency for performing transactions within the Ripple Ecosystem, the Ripple coin can also be used for performing easy and affordable global financial transactions. The Ripple network offers a range of popular products such as RippleNET, xCurrent, and xRapid that are being used by institutions worldwide for finding and connecting with customers and service providers.
Dash is another digital currency that was created on the concept of secure, peer-to-peer digital payments. Among other things that make Dash a popular coin is the ability to process payments almost instantly, in real-time, which enables individuals and organizations around the world to perform safe and instant cross-border transactions using Dash.
DASH is also popular because it charges a very low fee from the transacting parties, and the payments are highly reliable.
The recent advice from the World Health Organization (WHO) to adopt digital money over paper cash to avoid viruses like COVID 19 is expected to result in a big boost in the demand and value of Dash and many other digital currencies out there.
NEO is the first open-source cryptocurrency originated in China. It is also sometimes called the Chinese version of Bitcoin, as it seems to work more or less like Bitcoin, which is officially illegal in China.
However, in reality, NEO is quite different from BTC. For one, it is open-source and run by a community of NEO users, investors and developers. NEO features a cross-platform, multi-language supported smart contract system built on blockchain technology for easy and efficient management of digital assets in a decentralized environment.
The primary focus of the NEO network is on creating an ecosystem where real assets can be digitized for easy liquidity and to boost the mass adoption of blockchain.
If you are a supporter of the decentralized economy and prefer a system where monetary transactions are no longer governed by centralized entities such as banks or the government, you should certainly check out the Tron project.
TRON is a blockchain-based operating system that allows developers to build futuristic decentralized applications, smart contracts, etc. on the blockchain. It aims to develop an ecosystem or a kind of new internet which is completely run by blockchain. It also doubles as a global, decentralized content management system based on blockchain technology.
The coin value has grown by nearly 400% percent since its launch in 2017.
Titan coin, or TTN, is one of the newer coins that not many people know about, but they deserve appreciation for the innovative use of blockchain technology.
At the outset, Titan coin is like any other digital currency that can be used for making easy, fast and secure cross-border payments. You can use it at any merchant or website that accepts the coin. It uses hybrid consensus (PoS/PoW) for added security and efficiency in the blockchain.
But, the thing that makes the Titan coin truly unique and different from most other cryptocurrencies is the presence of actual use cases. The Titan project has been essentially launched as an ecosystem that comprises a range of highly usable projects or mobile apps that could make day-to-day tasks easier for the masses. All the apps in the ecosystem use Titan coin as a means for secure, in-app payments, thus creating an obvious demand and boosting the coin value in the market.
Litecoin is a peer-to-peer digital currency based on blockchain. It works more or less like bitcoin but is less resource-intensive. In other words, the maintenance of a Litecoin network is relatively easier and cheaper. It uses blockchain technology for the creation and transfer of digital coins.
Litecoin is one of the first altcoins (bitcoin alternative) and was launched in 2011. The main difference between LTC and BTC is in the type of hashing algorithm they use. The use of the Scrypt PoW algorithm by Litecoin allows users to mine this coin with GPU and other consumer-grade hardware.
At the time of writing this article, the price of LTC was $33.17 USD, about 671% higher than the launch price.
ICON is one of the first projects to work on the concept of blockchain interoperability to allow users on these blockchains to connect and transact with each other. This effectively expands the reach and use cases of cross-chain technology.
ICON runs on a common-purpose blockchain that is based on Proof-of-Stake consensus and can be used for creating & implementing smart contracts and other decentralized applications (DApps). The ICON blockchain is said to be able to process hundreds of transactions per second.
And the idea must have resonated very well with the audiences and investors, as the native coin ICX was ranking at #38 on Coinmarketcap in terms of popularity at the time of writing this article.
ZRX is a cryptocurrency for the users of the 0x platform, which is a blockchain protocol for allowing the decentralized (peer-to-peer) exchange of token and a range of digital assets on the Ethereum blockchain. ZRX holders can also vest their tokens by staking with 0x market makers and earn liquidity rewards in exchange.
ZRX has produced an ROI of over 37% since its foundation in 2017 and is one of the highest-rated tokens based on market cap.
Ranked at 54th position globally in terms of market cap, KNC (Kyber Network Crystal) is a native cryptocurrency of the Kyber Liquidity Network. It’s an ERC-20 token and essentially gives holders access to an on-chain liquidity protocol for an easy, fast and secure exchange of tokens in any decentralized application. The facility can be used by individuals and merchants for integrating instant token swaps into their own systems.
The Kyber Network also allows developers to build decentralized applications like financial smart contracts and other DApps on its platform.
Status is a kind of social networking and instant messaging platform that allows users to interact in a completely private manner with the use of a peer-to-peer protocol and state of the art encryption. It also integrates a crypto wallet and a Web3 browser. It was started as an open-source project and is now managed by designers, developers and crypto enthusiasts from all over the world.
The Status Network Token (SNT) is a utility token that enables and rewards users to participate on the Status Network. It’s an ERC-20 token that gives unprecedented access to all the existing apps and features of the platform.
Horizen is an incentive-focused ecosystem that aims to empower people and businesses with advanced capabilities on the blockchain. The platform cryptocurrency – ZEN – gives access to the decentralized ecosystem along with all its DApps, products & services. It aims to enable more and more people and enterprises to adopt blockchain technology and solutions through real-world utilities/ use cases. It comes integrated with an open-source software development kit (SDK) for the development & deployment of sidechains (customized blockchains) and also allows the integration of third-party technologies.
Ren is another crypto project that aims to enable interoperability between blockchains, allowing private and seamless transfer of value-driven data. The main focus of Ren’s core product, RenVM, is to introduce interoperability in decentralized finance. Basically, the platform allows you to use any decentralized app or smart contract for connecting and transactions between different blockchains such as BTC, ZEC and BCH. Some other interesting features of the chain include fast transactions, high security, large volume trading and easy integration into existing systems.
Ardor is a blockchain development platform for businesses and developers looking to create their own customised blockchains without a lot of coding or technical knowledge. The platform offers blockchain as a service (BaaS), where other third-parties can build their child chains based on the parent blockchain of Ardor. It also allows the development of multiple transaction tokens to be used with separate blockchains. Also, it enables users to inter-operate, transact and exchange tokens between various blockchains on the platform.
At the time of writing this article, ARDR was at #92 position in terms of market cap and had a market value of $0.032871 USD per coin.
Launched in 2008, YAP STONE (YAP) is a native currency of an ecosystem based on a shared economy where the profits earned are distributed back to the community. It aims to derive the smart economy by being the primary cryptocurrency used by people in smart cities across the globe.
YAP is a China-based cryptocurrency that’s even though older than Bitcoin but has yet to prove its worth. However, that doesn’t affect its popularity, as the coin ranks at the 99th position in terms of global market cap.
With an almost 170% ROI in just a couple of years of its foundation, DGTX is one of the top 100 cryptocurrencies on the CoinMarketcap website.
Digitex Futures is probably the world’s first cryptocurrency futures exchange that doesn’t charge a commission from the traders. It’s a crypto exchange, which means crypto transactions are peer-to-peer and guarantee high profits. DGTX aims to level the crypto trading field by providing the same kinds of opportunities to all types of traders, irrespective of their background and knowledge level. DGTX is the cryptocurrency that gives you access to the zero-fee trading platform of Digitex Futures.
HYN is a cryptocurrency that was created and runs on the Ethereum blockchain. It supports the Hyperion decentralized platform that aims to build a universal map system consisting of global data and services that can be accessed by people worldwide. Basically, it intends to decentralize the way we see and use map services. Hyperion has a number of products under its umbrella, including a privacy-focused map application, TITAN, and a decentralized PaaS for Maps/LBS, MAP 3.
Ranking at #126 in terms of market cap and trading at a price of $0.009809 USD, WXT is a cryptocurrency developed on the Stellar platform.
Wirex is essentially a decentralized payment platform where you can store your tokens/coins and other digital and traditional assets or currencies as well as use them to buy things, make payments and exchange in a peer-to-peer manner. It supports automatic swap to convert over 12 digital and fiat currencies at any time and allows physical payments through a VISA card.
YOU coin is the cryptocurrency associated with YOUChain, which is a public blockchain created with a focus on high scalability and performance. It uses a YPoS consensus mechanism for processing large-scale transactions and developing enterprise applications.
So, here concludes the list of the top 20 cryptocurrencies that, we think, can be worth your time and money in 2020 and beyond. Remember, this is not professional financial advice, just a few calculated crypto suggestions based on the ongoing market trends. Always do your research and investigate a cryptocurrency before investing in it.
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Author: Posted By: Editor
The 7 lessons that the massive Twitter hack teaches us about Bitcoin (BTC)
The massive hack of which Twitter was victim on July 15, 2020 aimed to steal Bitcoin from gullible people. It’s likely that some people will confuse the Twitter hack with the Bitcoin hack. However, Bitcoin has never been hacked since its creation more than eleven years ago. This hack is rather an opportunity to learn some great lessons about Bitcoin which I will detail.
The day of July 15, 2020 will forever be remembered as a nightmare day for Twitter. The platform of Jack dorsey was indeed the victim of a massive hack. Many verified accounts of famous people have been compromised.
Most worrisome is that it was not the individual accounts of these figures who were hacked, but that the hackers managed to gain access to the internal administration platform of Twitter.
For several hours, the hackers were therefore able to take control of any account on the Twitter social network. That’s what they did.
The list of hacked accounts is so long that it just sounds incredible. There were very successful entrepreneurs like Elon Musk, Bill Gates, or Jeff Bezos. The accounts of Barack Obama and of Joe Biden were then hacked.
Hackers then attacked accounts of companies like Apple or Uber. Finally, they took control of corporate accounts from the world of cryptocurrencies such as Binance, TRON, Gemini, Bitfinex,…
Using the accounts of famous personalities, the hackers tweeted a message inviting Internet users to send them a sum in Bitcoin to an address on the network. Once the Bitcoin sum was received, the personality was then supposed to send the double back to the trapped user:
Obviously, the trapped surfer never received anything afterwards.
With the accounts of companies like Binance or Gemini, hackers were trying to redirect Internet users to a mysterious website on which a large distribution of Bitcoins was planned:
This massive Twitter hack lasted for several hours. Twitter had completely lost control.
At any time, a new verified account could be compromised, and a tweet could be posted. Twitter regained control by blocking the sending of tweets through verified accounts.
However, all of this is disturbing, and suggests that the security of the Twitter platform is very low. Furthermore, it seems obvious that a kind root access to the administration platform of Twitter exists, which opens the door to this type of hack even more easily.
Today, most mainstream media is making headlines with shortcuts that might suggest that the Bitcoin was hacked, or that Bitcoin favors scams.
No wonder, and it shouldn’t change much for Bitcoin. With this story, many new people will hear about Bitcoin. For good or for bad, the important thing is that people talk about you as some people say.
In what follows, I offer 7 main lessons that can be learned for Bitcoin from this massive hack of which Twitter was the victim.
It will seem trivial for all Bitcoiners, but it seems important to me to write it down in order to remember it if necessary for all other people: Bitcoin was not hacked on July 15, 2020.
It was Twitter that was hacked on July 15, 2020. And then it was people who fell into the trap set by scammers.
The platform of Jack Dorsey which has a little more 330 million active users security has been compromised once again. But unlike usual, where only individual accounts are hacked, this time hacking has risen to the level of the Twitter administration platform.
Bitcoin remains the safest decentralized network in the world. As a reminder, Bitcoin has never been hacked since its launch on January 3, 2009.
It’s quite a feat when you think that it’s only secure by its users, and that it doesn’t have any financial support from private investment banks or governments.
It is no coincidence that hackers tried to scam gullible people by extracting Bitcoins from them. Bitcoin is the rarest currency in the world.
Bitcoin is set to see its price explode in the years to come. It’s the only cryptocurrency that really matters.
Scammers know what they are doing, and for that reason they did not ask for Sh * tcoins from the gullible people they cheated. The majority of Altcoins have no real use, and their value will eventually reach zero in the future.
In 20 years, the price of Bitcoin could very well be up to a million dollars. Scammers know this very well. That’s why they were looking for Bitcoin during this massive Twitter hack.
Greed is one of the seven deadly sins of Christianity. Whether you are a believer or not, you must keep in mind that greed is your biggest enemy in the world of Bitcoin.
The people who sent Bitcoins yesterday following the fake tweets of these famous personalities have been tricked by their greed.
They wanted to effortlessly get more Bitcoins. They were ready for that to believe someone telling them that after having sent $ 1,000 in Bitcoin, they would in return double, or $ 2,000.
Even if a message like this is posted by Elon Musk, you must take a step back, and not let your greed take over your sense of logical reasoning.
Why would Elon Musk give you $ 1,000 in Bitcoin like that?
And if Elon Musk had such a will, do you think he would ask you to send $ 1,000 first? Why would a man with an 80 billion dollar fortune do this?
All these questions, people who have been trapped should have been able to ask themselves if they had not let their greed dominate them.
Bitcoin is a revolution that will change your life. But for that, you have to be smart. You must accumulate Bitcoin little by little, and above all keep them with you whatever happens by becoming a Bitcoin HODLER.
Being a Bitcoin HODLER will bring you many advantages over being a Bitcoin Trader.
Put them safe on a hardware wallet, and never touch them again for any reason. Become a Bitcoin HODLer, and never send your Bitcoins to a third party who requests it.
Bitcoin is evolving on a public blockchain that allows anyone to explore its content. Since the address used by hackers to extract Bitcoins is known to everyone, anyone can go explore the Bitcoin Blockchain to see the balance of this address:
You can see here that this hack helped hijack 12.86 BTC, a little more than $ 116K.
These Bitcoins will be able to be traced forever now. If the hackers transfer them to another address, we can find out. If they try to send them to an exchange platform, they can be found.
Most trading platforms having KYC policies increasingly strict, they will not be able to transform these Bitcoins into fiat money without being identified.
The scam that took place yesterday on Twitter was far-reaching. However, this is nothing new. Many people are trapped every day like this.
The problem is that many beginners in the Bitcoin world do not master the fundamentals.
These people send their Bitcoins to addresses belonging to malicious people, before coming to ask how can they recover their precious Bitcoins.
Instead of asking these kinds of questions, these people had better educate themselves properly to understand the fundamentals of Bitcoin.
Confirmed Bitcoin transaction is irreversible.
When you send your Bitcoins, you have no option to cancel the transaction. This is a total paradigm shift from the banking system you know. There is no refund in the Bitcoin world.
Whoever receives a Bitcoin transaction has complete freedom.
This implies that the recipient must think carefully about what they are doing before sending their Bitcoins. We must be extra careful, and remember this simple rule:
If it sounds like a scam, it’s a scam.
Bitcoin gives you total freedom. Bitcoin puts great power in the hands of its users. But this privilege comes at a price.
Remember what Uncle Ben said in Spider-man:
“Great power comes great responsibility”
Bitcoin gives you the power to live your life on your own terms, but that implies that you are fully responsible for the security of your Bitcoins.
You can’t blame anyone if you lose your Bitcoins because of a scam like the one that took place during the Twitter hack. No one will reimburse you. There is no insurance as with the current banking system.
This is a meager price to pay in my opinion to be able to take control over what you own. With Bitcoin, no one can stop you from using your money as you want. In addition, no one can confiscate your Bitcoins.
As long as you keep control of the private keys of your Bitcoins in all circumstances, you are the only real master on board.
This corresponds to rule number 6 of the famous Bitcoin club :
Not Your Keys, Not Your Bitcoins
I strongly invite you to follow the letter l8 Bitcoin Club rules now.
People who are scammed by a scam like the one that took place on July 15, 2020 on Twitter have what they deserve. I may sound brutal to you when I say this, but it is the feeling that all Bitcoiners share.
You buy Bitcoin, and you don’t even make the effort to understand how it works.
If you lose Bitcoins stupidly afterwards, you are the only person to blame. However, the currency of Bitcoin is simple to remember:
Don’t trust, Verify.
You should always have it in mind when making a Bitcoin transaction. This will prevent you from falling into scams that are unfortunate, but that only work because of the credulity of some.
Buying Bitcoin is a great decision, but it means going further then understanding how to really take care of your wealth.
Taking care of your Bitcoins is not hard when you take the time to properly educate yourself in the world of Bitcoin. You just have to make the effort to learn the good practices.
The massive hack suffered by Twitter on July 15, 2020, which aimed to steal Bitcoin, highlights the fragility of a platform that more than 330 million people trust monthly. This should make you realize that you should never store important information on social media. A lot of media will criticize Bitcoin following this Twitter hack, but you shouldn’t be fooled: Bitcoin remains the most secure decentralized network in the world.
Bitcoin has never been hacked since its creation. None of the GAFAs can say the same, even though they have much more financial means at their disposal to ensure their safety.
I just hope this Twitter hack to steal Bitcoin from gullible people will help more people understand that they need to make Bitcoin security their number one priority. You would have eternal regrets if you missed the Bitcoin revolution because of your ignorance of the security rules to follow in the world of Bitcoin. Want to be convinced of the potential of Bitcoin? Find out why the race to have 1 full Bitcoin has already started.
A developer by training, I discovered Bitcoin in 2014 but I did not immediately understand the importance it could have for the world of tomorrow. I became more interested in it from the beginning of 2017 and since then I have not given up on the business.
Passionate about Bitcoin and the new system it is trying to build for the future, I decided to participate in its evangelism at my modest level by writing on Bitcoin, Blockchain and crypto currencies on different supports.
It is with pleasure that I publish some of my texts in French on The Coin Tribune.
I also write a lot about personal development and self-improvement.
Do not hesitate to exchange with me via social networks or in comments on my articles if you have questions about my articles.