Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Reddit recently started its journey within the crypto field, giving a great push for mass adoption. The social media platform is slowly bringing crypto to its millions of users. Starting with two subreddits, users can now earn “Community Points” by contributing to the community with quality content. The tokens used on the platform are based on the Ethereum blockchain, meaning users have full custody of their own assets. Reddit will have no custody to move tokens on behalf of any user.
Earlier this month, social media giant Reddit started experimenting with community tokens on their platform, starting with subreddits r/CryptoCurrency (MOON) and r/FortNiteBR (BRICK). The communities now have their own special tokens, so called “Community Points”, which can be earned by contributing to the community.
The community tokens can be used to access special features such as customized emojis, badges and GIFs,...
IOTA is one of the most exciting projects in the space with a unique underlying protocol called the "IOTA Tangle” or “DAG.” Tangle has been designed to overcome the inefficiencies of the traditional blockchain and presents a new way for a decentralized P2P system to reach consensus. IOTA allows instant micropayments without incurring a fee, ensuring the fulfillment of the smallest tasks in the unified network like sticking on a tag, turning off the tap in the bathroom, etc. This feature allows IOTA's integration into the Internet of Things by performing transactions between any machines with internet or points. IOTA addresses the main inherent issues of the Internet of Things, i.e., security and scalability.
The IOTA Foundation was formed in 2015 as a not-for-profit project by four veterans of blockchain technology - David Sønstebø and Dominik Schiener.
Cryptocurrencies are frequently criticized for being volatile by many traditional traders, bankers, and media pundits. Many still tout gold as the only stable store-of-value alternative against the dollar. When considering the comparison between gold and cryptocurrencies, Vice Chairman of Berkshire Hathaway Charlie Munger views it simply. Man cannot make more gold, but he can make more Bitcoin.
Despite this misunderstanding, however, not all cryptocurrencies lack stability. Some are tied to real world assets like gold or the dollar. These cryptocurrencies are often named stablecoins due to their relative stability versus coins like Bitcoin or Ethereum.
Although, stablecoins may seem redundant at first. Their implementation allows for such innovations as a more private store and transfer of wealth, units of stable worth on decentralized exchanges,
Some stablecoins pit their value against cryptocurrencies that users have put up for collateral. Other stablecoins have a...
Decentralized Finance, also known as DeFi, is a quickly evolving and increasingly integral part of the blockchain space, especially on the Ethereum protocol. If proponents are correct, the technology could lead to greater financial autonomy among users while undercutting financial rent-seekers and reducing costs. During a time of unprecedented monetary policy and limitless quantitative easing, such an accomplishment has implications far beyond Ethereum and the DeFi space.
Nevertheless, as the financial system is re-engineered on-chain, several innovations are still required to establish ease and security of use as well as financial stability. The Kyber Liquidity Protocol is one such link in the chain, aiming to create a more fluid and user-friendly financial experience. Focused on creating a decentralized source of liquidity, this liquidity pool, market maker-like blockchain project is gaining traction as an increasingly integral part of the DeFi system.
Anyone familiar with cryptocurrencies and blockchain technology will often run into the concept of "forks". These can take the form of either soft forks or hard forks. However, what is a hard fork really? What's more, why do these forks even matter - and why are they important to keep in mind? Read on for a full breakdown of what a hard fork is and everything you need to know about it!
A hard fork is a phenomenon that changes the existing code that a cryptocurrency runs on, thus creating two versions of the code that are incompatible with each other. It is a permanent divergence of a node's consensus. This means that the new blocks created after the fork will be considered invalid by the old consensus, and the new consensus considers the old blocks invalid.
One of the most popular hard forks in the crypto space was that of Ethereum. What led to this was the infamous DAO hack. The DAO or a Decentralized...
When it comes to building and hosting DeFi protocols, Ethereum pretty much rules the roost. As per DeFi Pulse, a staggering $872.20 million is locked up in Ethereum-based DeFi. However, as it turns out, Bitcoin has been making impressive leaps in the DeFi department themselves. In this article, we are going to go through some of these Bitcoin DeFi apps. Before we do so, let’s go through the basics first.
While cryptocurrencies plan on creating an open currency system that gives you complete control over your own money, DeFi aims to take things a little further by building a public, global, and all-inclusive alternative to all the financial services in the world. As ambitious as this sounds, this was previously impossible on the Bitcoin blockchain. However, with the advent of Ethereum and smart contracts, such implementations soon became probable.
Smart contracts allow developers to create decentralized applications or dApps. As the name...
Software engineers have been on a tear for the past decade. Salaries for those working in the tech field are soaring. Moreover, the advent of remote jobs means opportunities working for high-profile companies are opening up even to those living in comparatively remote areas. As such, virtually anyone with the determination and interest can now become a software engineer.
Just getting paid a ”normal” software engineer salary can already seem like a dream to many. In fact, the typical software engineer salary in the US is almost $100,000 per year, according to Glassdoor salaries. However, the advantage of being so in-demand is that software engineer can virtually decide their own salaries if they have the right skills.
Consequently, many software engineers are now looking to boost their salaries. The past decade’s tech boom has made developers the new rockstars. One of the most effective ways to do this...
Cryptocurrency staking is a central concept for cryptocurrencies. In essence, it is the process of parking funds in a cryptocurrency wallet to support a blockchain network's functionalities and operations. It usually consists of cryptocurrency locking so that the user can receive rewards. In most cases, the entire process depends on the users participating in the blockchain activities through any personal crypto wallet, something on the lines of Trust Wallet. The concept of cryptocurrency staking draws parallel to the Proof of Stake Mechanism (PoS).
Proof of Stake and Staking were introduced by Sunny King and Scott Nadal back in 2012. Initially, the concept was based on a hybrid PoW/PoS mechanism, but it later snapped out of this and embraced the Proof of Work (PoW) platform. With this, users were able to mine and support the project well in its early stages without the need to become entirely dependent on the PoS system. Later in 2014, the...
Ray Dalio is the founder of Bridgewater Associates, a global macro investment firm that is currently the world's largest hedge fund earning a whopping $49 billion for its investors. A best-selling author, Mr. Dalio, regularly shares his knowledge through articles and videos. I will be focusing primarily on his latest piece, The Big Cycles Over The Last 500 Years, and the role Bitcoin could play should his projections prove to be accurate.
Ray Dalio's theories about market cycles are too involved to cover in one post, so I have focused solely on the portions that I believe are most relevant to Bitcoin. Namely, the long-term money and debt cycle, the rise and fall of empires and reserve currencies, populism, and their interconnection to one another. Could we soon see the death of the dollar?
We've all heard the adage, "Those who do not learn from history are doomed to repeat it." For Ray Dalio, this played out before his eyes when President Nixon...
In the early days of cryptocurrencies, the MtGox case was often brought up as a cautionary tale among crypto-enthusiasts. Specifically, MtGox was the biggest Bitcoin exchange to undergo a hack where most funds were stolen. How can you trust Bitcoin if these things may happen? This argument, which is very often used against cryptocurrencies, is somewhat misleading both for non-users and new users. In fact, poor understanding of the MtGox events is often behind the lack of Bitcoin education and generally, of lack of understanding crypto currencies.
So what was MtGox and what did really happen? At the beginning of 2014, MtGox was the biggest Bitcoin exchange in the world; its dominance was 70%. As such, its dominance was far more than today's biggest exchanges. It seemed to be destined to become the undisputed giant of this sector. Furthermore, the exchange is Japanese, as many suspect Satoshi Nakamoto (the creator of Bitcoin) might have been. However, in February...