Stefan (Iris), Author at 21000NEWS

Stefan (Iris)February 15, 2019

5min76

A Guide To The Blockchain Tech

A lot has been said about Bitcoin. A lot has been said about Bitcoin. This blockchain-based cryptocurrency is the first but, as you’ll see from Bitcoinfy’s infographic below, not the only one of its kind. It has changed the way we do ordinary and business transactions. Although many investors virtually made a fortune when Bitcoin reached its peak by the end of 2017, its volatile price has been the main reason why new investors shy away from the currency. However, most of them would still agree that it is the best cryptocurrency at the moment, despite thousands of other crypto alternatives.

What are Bitcoin and Blockchain?

Bitcoin was launched in 2009 by an unidentified person under the alias of Satoshi Nakamoto. The platform which Bitcoin and similar cryptocurrencies utilize is known as blockchain. This is a P2P-based digital, decentralized, and distributed ledger that stores data in blocks. The entire system is arranged in such a way that hacking or deleting these blocks is extremely difficult, if not impossible. Only authorized parties are able to make legitimate changes to the system.

Concepts Related to Cryptocurrencies

Mining

The invention of Bitcoin brought us a lot of new concepts. One of them is the so-called Bitcoin mining. You might have heard about mining cryptocurrencies. Simply put, mining is a process on the blockchain network by which network nodes verify transactions. After the verification, transactions are added to a new block of data. As a reward for their computing power, miners (owners of the nodes) are given a specific amount of the mined cryptocurrency (for example, 12.5 bitcoins). 

 

Wallets

Crypto wallet is another popular term in the cryptocurrency world. As the name suggests, it is a digital wallet used to store cryptocurrencies. It is not possible to own a digital currency without owning one of the countless wallets out there. They are quite easy to open and handle. Many have only the basic functions, such as “send” and “receive” funds, so you need to have basic computer and smartphone skills to operate them. However, you should always go for the one that offers a high level of security. Note that if you ever lose access to your account, it is not possible to retrieve it and your coins are gone forever.

ICOs

Perhaps you are aware of another popular cryptocurrency item – initial coin offerings (ICOs). Before a crypto startup launches its product and crypto coin, they might run an ICO to collect funds for further development. It goes like this. You believe that startup X has a promising future. You can buy its tokens on presale during its ICO for Bitcoin or Ether (another popular cryptocurrency). If everything goes according to the startup’s business plan, the tokens you purchased will significantly increase in value (sometimes more than 1,000%) in the future, and then you can sell them, getting yourself a nice return on investment. 

What Is Next for Bitcoin?

Bitcoin has made a name for itself over the years, but there seems to be a general declining of its value. However, this trend might be only temporary, and we could see it reaching a new all-time high level pretty soon. Unfortunately, it is not possible to predict future developments. All we can say at this moment is that Bitcoin and blockchain adoptions are growing at an unprecedented rate. This is good news, and we should hope for the best.


Stefan (Iris)February 15, 2019

6min64

3 Ingredients Of A Successful ICO

Lots of people are fans of ICOs simply because they’ve brought a lot of fresh ideas into life over the last few years. A couple of successful ICOs went down in history as having sold out in minutes after launch, raising millions of dollars in startup funds.

We know you’re already aware of the fact that a lot of hard work goes into making an ICO successful. Thousands of startups seek funding from different communities each day, so it is no longer enough to simply have a brilliant idea. You’ll need to do more than simply floating your idea to investors and waiting for that “magical” moment when millions start trickling in your bank account. If that is how you planned to launch your ICO, it will be dead on arrival.

In this post, we will take you through three time-tested ingredients of successful ICOs. Of course, they’re not a guarantee of success on their own, but they sure will raise the chances of you getting every dime you require to launch your business.

Let’s talk about all these in detail.

Product/Idea

As cliché as this may sound, you actually need to have a product that solves a problem. This is the perfect criteria for gauging whether or not your ICO is going to be helpful to the community. Additionally, you need to have a valid reason why you think tokenizing your product is the way to go. Not all products are required to be blockchain-based. If you don’t have a valid reason for it, then it might not be a good idea to go ahead with the ICO. You should know that cryptocurrency investors are a bunch of smart individuals. They can easily smell a pump and dump token miles away.

Team

They say two heads are better than one. This is especially true in any business venture. You need to assemble a team of qualified individuals that have unquestionable characters. If there’s one thing that investors have it is time – time to evaluate your character until they’re sure you are worth their trust. Tagging that unpopular family member or friend in your ICO team simply to massage their ego might be the one thing standing between you and your dreams. And you can’t blame the community for this. ICOs have been one of the worst hit areas by scams in recent times.

Marketing

Marketing and advertising are the final stages of your ICO process. At this point, you have a chance to put your best foot forward to be able to attract as many investors as possible. There are several ways of marketing your ICO. Below are just but a few:

  • Create a whitepaper to gain the trust of investors;
  • Set up a website and promote it using useful content;
  • Go for influencer marketing and social media communities;
  • Make use of email marketing.

Conclusion

There you have it!

As you’ve seen, some of the key ingredients for successful ICOs are not far from what we know; we just need to apply them in a structured manner. Successful ICOs never did things out of the ordinary, they did ordinary things in extraordinary ways. If you’re thinking of launching an ICO, consider putting in place a solid plan that incorporates the three ingredients above. And with that in place, you should be able to make it to the list of successful ICOs.


Stefan (Iris)January 23, 2019

5min70

No more will we only associate blockchain technology with cryptocurrencies. Various industries are working on ways to implement blockchain technology’s innovative features within their business operations. However, before we can fully appreciate the blockchain’s disruptive power, we need to fully grasp the concept of it.

Simply put, the blockchain enables decentralized transactions across a peer-to-peer network. Transactions are recorded on a ledger and then distributed to all the nodes on that network. To put it in simple English, the data is stored across all the computers on the network. This ensures that the system is transparent, immutable, and free from hacks. How? Because the data is not stored on one single computer, it’s not under the control of one single organization. To delete the chain, you’d have to delete it from all the computers within the network.

In addition, for any data to be added to the chain, you need the consensus of the majority of nodes in the network. That means that hackers would have to take control of at least 51% of all the computers in order to just add data. That’s a tough ask when you’re dealing with a sizeable network like Bitcoin.

It goes further than that, though. Once on the chain, the data cannot be deleted. That’s because every block added is linked to the one before. There’s no way to change a single block without changing all the blocks that come after it. That’s why we say that the chain is immutable.

At first, we limited the application of distributed ledger technology to cryptocurrencies, since the blockchain became famous due to Bitcoin. However, further study and a better understanding of how the technology works show its unlimited possibilities. Now, the blockchain is one of the most researched and implemented technologies in the world. What has led to the wide acceptance of blockchain technology in even the most traditional industries? This may be due to the fact that it has successfully optimized the way we do business. According to the infographic, it’s possible to save 70% on potential operating costs by utilizing this tech. Also, if we consider that the blockchain is still a nascent technology, it is safe to conclude that we have not yet experienced its full capacity.

The disruptive power of the blockchain is already at work in critical industries. At the moment, the healthcare sector is witnessing an emergence of blockchain-based applications that are specially designed to resolve some of the issues plaguing the industry.

Also, the traditional voting system could be gradually replaced by more transparent and immutable systems powered by the blockchain. There’s been considerable progress made in the supply chain sector as a result of the various blockchain product trackers introduced in the space.

Clearly, the blockchain has stood out as one of the most promising technologies in recent history. You can check out the infographic that follows for detailed facts on its disruptive nature, which will surely play a major role in the next industrial revolution.


Stefan (Iris)November 16, 2018

4min49

What the Crypto!?

If you own a startup, you probably already know that getting funding is not an easy task. Even though your business plan is perfectly crafted and executed and there is a demand for your services, you might be still struggling to take your business to the next level.

The reason is obvious – the market is pretty much saturated and you have a lot of competition. So, what options do you have? You could continue with your efforts and hope for the best. Or you could try new and, in a sense, unconventional methods of getting funds. 

What if we told you that cryptocurrencies are of great benefit to startups? You have probably heard about them, but you think they are primarily used for trading through obscure crypto exchanges.

That would be a wrong opinion. Some of them are actually aiming to help startups, rather than just serving as a means of trading. By using digital tokens, startups could much more easily sell their services and goods worldwide.

Wonder How?

Let us briefly explain this point. Say that you’re into the Internet of Things (IoT) industry, selling smart home appliances. Your goal is to get more funds to level up your business, but you find it hard because you are restricted to your particular country’s market, for example. Customers from other countries might be interested in buying your appliances, but they find it troublesome to pay you because of international regulations.

Now you can easily bypass these things. All you have to do is start using VeChain or IOTA crypto networks for example, because these are focused on the IoT niche. You could be using these digital tokens to sell your services to people worldwide, as this way of transacting is not limited by international regulations, fees, conversions, etc. In fact, there are zero middlemen between you and your customers.

If this sounds confusing to you, we suggest taking a look at the infographic below. You will find information about the top 26 cryptocurrencies and what they were built for, after which you can easily locate yourself on the map and know what crypto project is related to your business.

It shows that nearly every industry in the world will benefit from the digital means of payments, and your startup should definitely join the bandwagon.

Check it out: https://bitcoinplay.net/what-the-crypto-infographic/

 



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