CryptoSxm

18/10/2022

JUST IN: has been added to the Guinness World Records as the first and most valuable cryptocurrency.

https://watcher.guru/news/bitcoin-makes-its-entry-into-the-guinness-world-records

15/10/2022

This is why we need

15/09/2022

What is Ethereum?
Ethereum is a decentralized computing platform. You can think of it like a laptop or PC, but it doesn't run on a single device. Instead, it simultaneously runs on thousands of machines around the world, meaning that it has no owner.

Ethereum, like Bitcoin and other cryptocurrencies, allows you to transfer digital money. However, it’s capable of a lot more – you can deploy your own code, and interact with applications created by other users. Because it’s so flexible, all sorts of sophisticated programs can be launched on Ethereum.

Simply put, the main idea behind Ethereum is that developers can create and launch code which runs across a distributed network instead of existing on a centralized server. This means that, in theory, these applications can’t be shut down or censored.

What’s the difference between Ethereum and ether (ETH)?
It might be unintuitive, but the units used in Ethereum are not called Ethereum or Ethereums. Ethereum is the protocol itself, but the currency that powers it is simply known as ether (or ETH).

Ether coins bouncing

What makes Ethereum valuable?
We touched on the idea that Ethereum can run code across a distributed system. As such, programs can’t be tampered with by external parties. They’re added to Ethereum’s database (i.e., the blockchain), and can be programmed so that the code can’t be edited. In addition, the database is visible to everyone, so users can audit code before interacting with it.

What this means is that anyone, anywhere, can launch applications that can’t be taken offline. More interestingly, because its native unit – ether – stores value, these applications can set conditions on how value is transferred. We call the programs that make up applications smart contracts. In most cases, they can be set to operate without human intervention.

Understandably, the idea of “programmable money” has captivated users, developers, and businesses around the globe.

Sneak a peek at the latest ETHER prices right now.

What is the blockchain?
The blockchain lies at the heart of Ethereum – it’s the database that holds the information used by the protocol. If you’ve read our article What Is Bitcoin?, you’ll have a basic understanding of how a blockchain works. The Ethereum blockchain is similar to Bitcoin’s, although the data it stores – and the way it stores it – is different.

It helps to think of Ethereum’s blockchain as a book that you keep adding pages to. Each page is called a block, and it’s filled with information about transactions. When we want to add a new page, we need to include a special value at the top of the page. This value should allow anyone to see that the new page was added after the previous page, and not just inserted into the book randomly.

In essence, it’s a bit like a page number that references the previous page. By looking at the new page, we can say with certainty that it follows from the previous one. To do this, we use a process called hashing.

Hashing takes a piece of data – in this case, everything on our page – and returns a unique identifier (our hash). The odds of two pieces of data giving us the same hash are astronomically low. It’s a one-way process, too: you can easily calculate a hash, but it’s virtually impossible for you to reverse the hash to get the information used to create it. We’ll get into why this is important for mining in a later chapter.

Now, we have a mechanism to link our pages together in the correct order. Any attempt to change the order or remove pages will make it apparent that our book has been tampered with.

Want to learn more about blockchains? Be sure to check our beginner’s guide to blockchain technology.

Ethereum vs. Bitcoin – what’s the difference?
Bitcoin relies on blockchain technology and financial incentives to create a global digital cash system. It has introduced a few key innovations that allow the coordination of users around the globe without the need for a central party. By having each participant run a program on their computer, Bitcoin made it possible for users to agree upon the state of a financial database in a trustless, decentralized environment.

Bitcoin is often referred to as a first-generation blockchain. It wasn’t created as an overly complex system, and that’s a strength when it comes to security. It’s kept intentionally inflexible to prioritize security at its base layer. Indeed, the smart contract language in Bitcoin is extremely constrained, and it doesn’t accommodate applications outside of transactions very well.

The second generation of blockchains, by contrast, is capable of more. On top of financial transactions, these platforms enable a greater degree of programmability. Ethereum provides developers with much more freedom to experiment with their own code and create what we call Decentralized Applications (DApps).

Ethereum was the first of the second-generation wave of blockchains and remains the most prominent one to date. It bears similarities to Bitcoin and can perform many of the same functions. Under the hood, however, the two are very different, and each has its own advantages over the other.

How does Ethereum work?
We could define Ethereum as a state machine. All this means is that, at any given time, you have a snapshot of all the account balances and smart contracts as they currently look. Certain actions will cause the state to be updated, meaning that all of the nodes update their own snapshot to reflect the change.

Transaction sheet displaying erin sending 5 eth to alice.

A transition in Ethereum’s state.

The smart contracts that run on Ethereum are triggered by transactions (either from users or other contracts). When a user sends a transaction to a contract, every node on the network runs the contract’s code and records the output. It does this by using the Ethereum Virtual Machine (EVM), which converts the smart contracts into instructions the computer can read.

14/09/2022

What is a crypto wallet?

Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies like Bitcoin and Ethereum.
Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies – safe and accessible, allowing you to send and receive cryptocurrencies like Bitcoin and Ethereum. They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps like Coinbase Wallet, which makes using crypto as easy as shopping with a credit card online.
Why are crypto wallets important?
Unlike a normal wallet, which can hold actual cash, crypto wallets technically don’t store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions. If you lose your private keys, you lose access to your money. That’s why it’s important to keep your hardware wallet safe, or use a trusted wallet provider like Coinbase.
How do you use a crypto wallet?
Crypto wallets range from simple-to-use apps to more complex security solutions. The main types of wallets you can choose from include:
Paper wallets: Keys are written on a physical medium like paper and stored in a safe place. This of course makes using your crypto harder, because as digital money it can only be used on the internet.
Hardware wallets: Keys are stored in a thumb-drive device that is kept in a safe place and only connected to a computer when you want to use your crypto. The idea is to try to balance security and convenience.
Online wallets: Keys are stored in an app or other software – look for one that is protected by two-step encryption. This makes sending, receiving, and using your crypto as easy as using any online bank account, payment system, or brokerage.
Each type has its tradeoffs. Paper and hardware wallets are harder for malicious users to access because they are stored offline, but they are limited in function and risk being lost or destroyed. Online wallets offered by a major exchange like Coinbase are the simplest way to get started in crypto and offer a balance of security and easy access. (Because your private info is online, your protection against hackers is only as good as your wallet provider's security – so make sure you look for features like two-factor verification.)
Using an app like Coinbase Wallet or Exodus gives you easy access to your crypto holdings. You can:
Manage all your digital assets in one secure place
Control your own private keys
Send and receive cryptocurrency to and from anywhere in the world
Interact with usernames rather than long, hexadecimal “public key” addresses
Browse dapps (decentralized finance apps)
Shop at stores that accept cryptocurrency
What’s the difference between the Coinbase app and Coinbase Wallet?
The main Coinbase app (or Coinbase.com) allows you to buy and sell crypto or exchange it for fiat currency and transfer it to a bank account. If you just want to invest in Bitcoin or another digital currency it’s all you need. The Coinbase app will securely manage the rights to your private keys.
Coinbase Wallet is a separate app that allows you to store your private keys and to send, receive, and spend digital money; browse and use DeFi applications, and more. You don’t need a Coinbase account to use Coinbase Wallet. - Source: Coinbase

I personally use " trust wallet " and " Metamask "

I do not hold any crypto on any exchanges ( that's completely your personal choice )

Recommend Crypto Wallets:

-Trust Wallet ( Recommended )
-Coinbase
-Metamask ( Recommended )
-Electrum wallet

14/09/2022

This video on Cryptocurrency covers all the important concepts from basics to advanced. Also it covers all the information about Cryptocurrency like what Cry...

14/09/2022

Given the sheer volume of misinformation & propaganda circulating lately, I thought it important to share the truth regarding Mining and the Environment. - Michael Saylor

Michael Saylor

14/09/2022

Another bank hostage situation in this time a armed female demanding her own money back.
So far Lebanese lost over 95% of purchasing power since late 2019

fixes this , be your own bank

14/09/2022

What is Bitcoin?
Bitcoin is a digital form of cash. But unlike the fiat currencies you’re used to, there is no central bank controlling it. Instead, the financial system in Bitcoin is run by thousands of computers distributed around the world. Anyone can participate in the ecosystem by downloading open-source software.

Bitcoin was the first cryptocurrency, announced in 2008 (and launched in 2009). It provides users with the ability to send and receive digital money (bitcoins, with a lower-case b, or BTC). What makes it so attractive is that it can’t be censored, funds can’t be spent more than once, and transactions can be made at any time, from anywhere.

What is Bitcoin used for?
People use Bitcoin for a number of reasons. Many appreciate it for its permissionless nature – anyone with an Internet connection can send and receive it. It’s a bit like cash in that no one can stop you from using it, but its digital presence means that it can be transferred globally.

What makes Bitcoin valuable?
Bitcoin is decentralized, censorship-resistant, secure, and borderless.

This quality has made it appealing for use cases such as international remittance and payments where individuals don’t want to reveal their identities (as they would with a debit or credit card).

Many don’t spend their bitcoins, instead choosing to hold them for the long-term (also known as hodling). Bitcoin has been nicknamed digital gold, due to a finite supply of coins available. Some investors view Bitcoin as a store of value. Because it’s scarce and difficult to produce, it has been likened to precious metals like gold or silver.

Holders believe that these traits – combined with global availability and high liquidity – make it an ideal medium for storing wealth in for long periods. They believe that Bitcoin’s value will continue to appreciate over time.

Sneak a peek at the latest Bitcoin (BTC) prices right now.

How does Bitcoin work?
When Alice makes a transaction to Bob, she’s not sending funds in the way you’d expect. It’s not like the digital equivalent of handing him a dollar bill. It’s more like her writing on a sheet of paper (that everyone can see) that she’s giving one dollar to Bob. When Bob goes to send those same funds to Carol, she can see that Bob has them by looking at the sheet.

transaction examples

The sheet is a particular kind of database called a blockchain. Network participants all have an identical copy of this stored on their devices. The participants connect with each other to synchronize new information.

When a user makes a payment, they broadcast it directly to the peer-to-peer network – there isn’t a centralized bank or institution to process transfers. In order to add new information, the Bitcoin blockchain uses a special mechanism called mining. It is through this process that new blocks of transactions are recorded in the blockchain.

What is the blockchain?
The blockchain is a ledger that is append-only: that is to say, data can only be added to it. Once information is added, it is extremely difficult to modify or delete it. The blockchain enforces this by including a pointer to the previous block in every subsequent block.

how blockchain uses the hash from the previous block to produce the following block

The pointer is actually a hash of the previous block. Hashing involves passing data through a one-way function to produce a unique “fingerprint” of the input. If the input is modified even slightly, the fingerprint will look completely different. Since we chain the blocks along, there is no way for someone to edit an old entry without invalidating the blocks that follow. Such a structure is one of the components making the blockchain secure.

For more information on blockchains, see What is Blockchain Technology? The Ultimate Guide.

Is Bitcoin legal?
Bitcoin is perfectly legal in most countries. There are a handful of exceptions, though – be sure to read up on the laws of your jurisdiction before investing in cryptocurrency.

In countries where it’s legal, government entities take varying approaches to it where taxation and compliance are concerned. The regulatory landscape is still highly underdeveloped overall and will likely change considerably in the coming years.

A History of Bitcoin
Who created Bitcoin?
Nobody knows! Bitcoin’s creator used the pseudonym Satoshi Nakamoto, but we don’t know anything about their identity. Satoshi could be one person or a group of developers anywhere in the world. The name is of Japanese origin, but Satoshi’s mastery of English has led many to believe that he/she/they originate from an English-speaking country.

Satoshi published the Bitcoin white paper as well as the software. However, the mysterious creator disappeared in 2010.

Did Satoshi invent blockchain technology?
Bitcoin actually combines a number of existing technologies that had been around for some time. This concept of a chain of blocks wasn’t born with Bitcoin. The use of unalterable data structures like this can be traced back to the early 90s when Stuart Haber and W. Scott Stornetta proposed a system for timestamping documents. Much like the blockchains of today, it relied on cryptographic techniques to secure data and to prevent it from being tampered with.

Interestingly, at no point does Satoshi’s white paper make use of the term “blockchain.”

See also: History of Blockchain.

Digital cash before Bitcoin
Bitcoin wasn’t the first attempt at digital cash, but it is certainly the most successful. Previous schemes paved the way for Satoshi’s invention:

DigiCash
DigiCash was a company founded by cryptographer and computer scientist David Chaum in the late 1980s. It was introduced as a privacy-oriented solution for online transactions, based on a paper authored by Chaum (explained here).

The DigiCash model was a centralized system, but it was nonetheless an interesting experiment. The company later went bankrupt, which Chaum believes was due to its introduction before e-commerce had truly taken off.

B-money
B-money was initially described in a proposal by computer engineer Wei Dai, published in the 1990s. It was cited in the Bitcoin white paper, and it’s not hard to see why.

B-money proposed a Proof of Work system (used in Bitcoin mining) and the use of a distributed database where users sign transactions. A second version of b-money also described an idea similar to staking, which is used in other cryptocurrencies today.

Ultimately, b-money never took off, as it didn’t make it past the draft stage. That said, Bitcoin clearly takes inspiration from the concepts presented by Dai.

Bit Gold
Such is the resemblance between Bit Gold and Bitcoin that some believe that its creator, computer scientist Nick Szabo, is Satoshi Nakamoto. At its core, Bit Gold consists of a ledger that records strings of data originating from a Proof of Work operation.

Like b-money, it was never further developed. Bit Gold’s similarities to Bitcoin have, however, cemented its place as the “precursor to Bitcoin.”

14/09/2022

Today is a Historical day for crypto as we have the Ethereum Merge happening.

What is the Eth merge about ? 👇👇👇

What is The ETH Merge? The Merge is the next step in the evolution of Ethereum. It is an upcoming event that will see the existing ex*****on layer merged wit...

14/09/2022

In crypto you will hear a lot of " WEB3 "

Here's a explanation of what WEB3 is and the importance of it.

Read more about it here:

https://www.spiceworks.com/tech/tech-general/articles/web-2-vs-web-3/

14/09/2022

Number 1 question I always get.
" What is cryptocurrency "

It's easier to show you than to tell you.

This video on Cryptocurrency covers all the important concepts from basics to advanced. Also it covers all the information about Cryptocurrency like what Cry...

14/09/2022

Investing is an important part of finance, but the fundamental pillars is even more important

14/09/2022

We post cryptocurrency information about the Importance of crypto and how to get started and world news about crypto. Feel free to Like, Comment and Share. Amd please feel free to message us for any questions you may have.

03/05/2022

NEW: settled $13.1 trillion in payments last year, 20% more than VISA – Bloomberg 🚀

06/04/2022

There's a new way to quickly send U.S. dollars around the world with bitcoin

https://www.cnbc.com/2022/04/05/bitcoin-powers-a-fast-new-way-to-send-us-dollars-around-the-world.html?utm_term=Autofeed&utm_medium=Social&utm_content=Intl&utm_source=Twitter =1649170911

06/04/2022

Hello and welcome to our page. I'm a local st.maartener just trying to help educate my people with this new world on finance we are walking into.
If you have any personal questions please feel free to message us