Author: Jessica Alameda

Theta Network (THETA) is an open source protocol that uses a decentralized blockchain network. Theta Network has done a good job of integrating blockchain and the gaming industry. THETA tokens and TFUEL tokens are Theta Network-specific tokens.

You can also read: How to use Coinmama? (The complete guide)

Theta Network has been designed for uploading and streaming movies and videos, yet its Blockchain created to secure and distribute tokens. SLIVER.tv was the first Theta show to attract millions of Sports visitors.

What is Theta Network (THETA)?

The goal of Theta Network is to create a more efficient way to deliver content on a global, peer-to-peer mesh network. Tokens in the Theta blockchain are used as storage nodes or relays for video to encourage users to share idle calculations and their bandwidth resources. This design aims to improve the quality of flow delivery and solve the “last mile” delivery problem, which is the main bottleneck of traditional content delivery pipelines, especially for high-resolution streams with high bit rates of 4k, 8k and next generation. With sufficient network density, most viewers pull streams out of similar storage nodes, allowing video platforms to significantly reduce the cost of a content delivery network (“CDN”). By introducing tokens as an end-user incentive mechanism, Theta Network aims to enable video platforms to deepen viewer engagement, increase revenue, and differentiate content and viewing experience from its competitors. Theta uses a two-token model with the following application.

How Does THETA Work?

Theta consists of two parts. The first is the video delivery network. It consists of nodes that connect to the network and provide their bandwidth. This network is what makes real decentralized video delivery. The second part of the blockchain is theta. This is for incentive purposes, to provide a reason for participants to join the delivery network.

Theta Network

Currently, content delivery networks (CDNs) offer video content and streaming. These usually include very large centralized data centers scattered around the world. The main problem with these cases is that they are not geographically close enough to many viewers, which leads to lower quality broadcasts. Theta’s answer to this is to create a P2P mesh network of users who share their bandwidth. The result must be a global network to replace or complement the CDN infrastructure.

Users can borrow their devices as storage nodes that send video streams to any viewer in the world. A node is a node that stores video data. As a result, the flow quality is improved because the theta network has more storage and relay points than the current system. This is because video data packets do not have to travel that far. Storage nodes are rewarded with theta tokens, and are therefore motivated to provide additional bandwidth resources and strengthen the theta network.

Theta White Paper claims that its solution could reduce delivery costs by up to 80% compared to existing infrastructure. This seems to be because of the savings in not having to maintain the huge data centers that CDNs currently supply. While this is a big claim, we have to wait and see if they can do it.

Improved resilience

In addition to the improved stream quality, it has to offer, Theta also hopes to improve infrastructure flexibility. Currently, the entire streaming industry is dependent on a small number of data centers. This carries with it the risk that the global trend will worsen dramatically if several failures or go offline. By distributing cables and relays to thousands and potentially tens of thousands of nodes, the theta network should be much stronger than the current system.

Variety in quality

The main problem that theta identifies is the difference in the quality of the different nodes. In addition, there is nothing to stop the nodes. To address these issues, the team is building a server and client to help nodes identify the closest nodes in terms of network bounce. Nodes can then communicate with their closest counterparts, as opposed to being randomly connected to any node in the world. Theta hopes this will allow nodes to run streams more stably and thus compete with current CDNs.

Theta Blockchain

The purpose of the Theta Blockchain is to act as a consensus layer for payments and rewards in the ecosystem. It is important to know that no video files are stored in Blockchain. This will be impossible due to the data demands it imposes. Blockchain will be fully open source, and the team hopes developers will build and deploy their DAPPS on top of Blockchain.

Dealing with scaling

As theoretically, tens of thousands of nodes will participate in the mesh network, as a result, there will be a large number of micropayments for rewards. In addition, the Blockchain must consider a large number of payments in the form of tips, purchases and other uses of tokens. As a result, Theta is trying to build a proof-of-stake (PoS) blockchain with very high throughput, while not including decentralization and security. Of course, this is not a small problem and it is something that has caused many problems in blockchain.

The team has divided its blockchain into two levels. A small validation committee of 20 validation nodes produces the blocks. Beneath that, a large body of guards, numbering in the thousands, is responsible for validating the Blockchain at designated points and helping to build consensus. Theta believes that without compromising decentralization, it brings a very high throughput.

In addition, Theta uses a rumor-mongering scheme. This means that guard nodes send their signatures to adjacent nodes instead of sending their signatures. This process continues and spreads signatures in the same way that the virus spreads in an epidemic. It is designed to maximize performance where guard nodes communicate with each other. The last part is the off-chain micropayment system, which adds extra capacity to the blockchain. It seems to be doubly resistant to spending.

The team behind Theta Network (THETA)

There were and still are big names in the network of advisors of this network. YouTube co-founder Steve Chen, Twitch co-founder Justin Kana, Verizon CEO Rakuten Wiki and CG Peach are prominent figures on the consulting team. In 2017, Theta was able to raise $20 million in a private sale by selling 30 percent of its total 1 billion digital currency supply.

In addition to Jieyi Long as Chief Technology Officer and Mitch Liu as CEO, Ryan Nicholas is currently on the core team and CEO of the network. He has previously managed Tencent for the Wechat app. Also on the blockchain and theta development team are 15 people, mostly from East and Southeast Asia.

The purpose of the Theta token

Theta token currently exists as an ERC20 token and has no functional function. However, when theta is transferred to its main network on March 15, 2019, these tokens will be replaced with new theta tokens in a 1: 1 ratio and will be placed on top of the new theta blockchain.

Once the main network is up and running, these new tokens will be used primarily to secure Theta blockchain. In addition, the team hopes that people will use the token as a means of paying and rewarding content creators, marketing virtual products, and purchasing premium content.

708,000,000 out of a total supply of 1,000,000,000 tokens are currently in circulation. This is equivalent to 71%, which means that the supply of tokens cannot be significantly reduced, this is positive news for investors.

At the same time as launching the main network, Theta issues Gamma tokens to all THETA holders. For each THETA token stored, five gamma tokens are issued. These tokens have practical value and are used to pay for video transactions and cover smart contract operations. The Gamma token appears to be used instead of the THETA token as a means of paying and rewarding content creators, trading virtual products, and purchasing premium content.

In conclusion

The response of Theta to current content delivery scaling problems is certainly astonishing. Its unique approach to the P2P mesh network, which is driven and secured by high-throughput Blockchain, can certainly be very destructive if successful.

Whether they can maintain their blockchain decentralization and maintain their mesh network of consistent quality are probably two big questions right now.

Theta token itself makes a lot of sense as a functional token. Most importantly, it should act as a means to motivate bandwidth sharing. This in turn contributes to the development and growth of the mesh network.

Wrapped Bitcoin (wBTC) is a token bitcoin asset (BTC) that was established in January 2019 as a joint project between the custodian of digital assets BitGo and two liquidity traders Kyber and Ren. By far the most popular BTC tokens, Wrapped Bitcoin allows bitcoin holders to deploy their assets in a wide range of decentralized Ethereum Blockchain (DApps) applications.

You can also read: How JUST (JST) Builds a Bridge on TRON?

With high transparency yet centralized, wBTC is steadily growing in popularity and has recently entered the top 20 digital currency charts. If you have been wondering what wrapped bitcoin (wBTC) is and how wrapped bitcoin works, we will cover it for you. Join us to explore this fast-growing digital currency project.

What is Wrapped Bitcoin (WBTC)?

The project is part of the Wrapped Tokens initiative launched by the Kyber network, BitGo Y Republic Protocol. Launched on January 24, 2019, the initiative sought to create a token that displays bitcoin in the Ethereum blockchain.

The goal was to create a bridge that allowed bitcoin users to inject liquidity into the eager ecosystems of DeFi and DApps that were born and growing at the time.

To achieve this goal, the three figures teamed up to create a centralized maintenance platform under BitGo management that could interact using a series of smart contracts or smart contracts in Ethereum. In this way, a federal government body was created that could represent tokens with a high degree of trust, while decentralizing certain token management parameters.

In this way, all participants are guaranteed that their money is not only safe, but also protected by reputable institutions in the ecosystem. You can get more information by checking the white paper of this project.

However, be careful! As we have said, they act as the central institution in this currency. That is, it is by no means a decentralized sign.

How does Wrapped Bitcoin (WBTC) work?

The operation of Wrapped Bitcoin (wBTC) is very simple. What this system does is ask bitcoin users to submit their bitcoins.

First of all, we have an interface that allows us to deposit bitcoins in exchange for wBTC. The system issues us a Bitcoin address that is controlled by BitGo, which receives BTC from interested users and blocks and protects their assets.

Once Bitcoin has Bitcoin, the wBTC is issued for the same amount of bitcoins locked in Bitcoin. This token issuance takes place in Ethereum and is possible thanks to the smart contracts that have been made for this purpose. This means that the problem must go to an Ethereum address because wBTC is an ERC-20 token. Likewise, the reverse can be done and wBTC can be converted to BTC.

WBTC has a public order book in order to maintain its transparency. From there you can check the amount of blocked BTC and the amount of wBTC issued. It is also possible to view various transactions within the system. At the same time, you can see the token test by looking at the blocked addresses and BTC values ​​at the mentioned addresses, which makes the system transparent in this regard.

Of course, this is the basic operation of wBTC, because there are more things hidden behind it, and this is what we will find out later.

The pros of Wrapped Bitcoin (WBTC)

You really cannot do much with ordinary bitcoin, which is great! Bitcoin is not going to be glamorous and exciting. It is supposed to be the safest digital currency in the world. That is. However, if you want to make money with your bitcoin, or do anything interesting with it, you have to use sophisticated bitcoins.

You can deposit and borrow wrapped bitcoins on a DeFi protocol like MakerDAO. Alternatively, another way to look at it: decentralized leverage. Borrow with WBTC; use the money to buy more WBTC.

WBTC and other sophisticated bitcoin alternatives can also be traded in decentralized exchanges such as Uniswap. In addition to WBTC trading, you can also place it on Uniswap to earn returns based on trading fees. On the other hand, you can lock it in a platform like Compound to earn interest on your deposit.

In general, bitcoin packaging gives the trader more flexibility in how to use their coins. Instead of just holding bitcoins, with packaged bitcoins you can borrow, raise cash, earn passive income, trade in a decentralized exchange, and more.

The cons of Wrapped Bitcoin

The value proposition of Bitcoin is security, security, security. We saw a great example of this when the Bitcoin community decided to reject the size of larger blocks. They aimed to keep the blockchain small in order to maximize the number of clients who could run a node.

In the Bitcoin network, security is more important than anything else. Bitcoin is what you want to have when the global financial system collapses.

Given the role of bitcoin as a safe asset, keeping bitcoin in the Ethereum blockchain somewhat defeats the bitcoin goal. A smart bitcoin holder contract can be misused and lead to widespread losses. Alternatively, in the case of WBTC (more on this in the next section), the company can start blocking wallets so that bitcoins cannot be redeemed.

We can draw a good parallel between complex bitcoin and gold. Many people buy gold to protect themselves from the collapse of the financial system. The serious investor keeps the physical ingot in a safe, where he can access it, even if the financial markets are offline. Having gold in a safe is like keeping bitcoins in an illegal wallet like Exodus, where the user has 100% control over their coins.

The less serious investor buys gold through the ETF, which is called “paper gold”. The problem is that in the event of a severe disruption to the financial system, no one can say what will happen to these paper gold products. They are not as secure as physical gold. It is like keeping bitcoins in Ethereum. Although it may be convenient, the investor sacrifices security.

Use cases

This token has several uses, but the most important are the following:

1. Allow bitcoin holders to participate in the DeFi ecosystem while staying fixed on bitcoin prices.
2. All their DEX can benefit from creating wBTC pairs to simulate the bitcoin market in their system. Many traders are “Bitcoin only” and adding this option will attract more of these traders to DEX. In this way, liquidity is expanded and strengthened.
3. Using wBTC with atomic swap and side chain allows better trade between different digital currencies. For instance, if you convert your bitcoin to wBTC, you can use this wBTC to convert it to another currency that has an ERC-20 token in Ethereum, and then simply withdraw other cryptocurrencies for it. The good thing about this system is that the cost of this type of operation should be less than a direct exchange in a centralized exchange, although this depends on the cost of gas in the Ethereum and other variables that may or may not be useful to an exchange.

As you can see, wBTC is a curious token with interesting features. Known as “Bitcoin that is not Bitcoin”, the token seeks to further invest in the DeFi world by bitcoin holders.

In conclusion

WBTC is a bitcoin-backed digital asset launched on the Ethereum ERC20 blockchain network. Using this digital currency, while holding bitcoins, you can invest in new and emerging areas of the digital currency market, such as lending, and in addition to raising the price of bitcoin; you can earn a reasonable profit in return for lending.

JUST is a decentralized lending platform where users can place, hold and hold a Tron through the CDP portal. USDJ is a stablecoin with a 1: 1 ratio (one-to-one), backed by dollars. This means that a USDJ is equivalent to one dollar and users can create it by sticking a Tron on this platform. On the JUST platform, there is another token with the JST symbol. Just Currency is used to pay off the interest on loans, platform stability, and participation in management decisions through activities such as voting and other activities in this blockchain.

You can also read: What Is The Utrust (UTK) Platform?

What Is JUST (JST)?

JUST is a new decentralized financial ecosystem (DeFi) built for the TRON blockchain. This is a complete set of products that is mainly focused on a decentralized stable coin lending platform called JustStable.

The platform was launched in August 2020, following the initial public offering (IEO) of the Poloniex LaunchBase platform earlier that year, but the platform’s Indigenous Sovereignty (JST) has been in circulation since May 2020.

It is a two-sign ecosystem built around the USDJ and JUST (JST) tokens. The USDJ is a multi-security stablecoin whose value is related to the value of the US dollar (USD), while the JST has a variety of functions on the platform – paying interest, helping maintain the platform and participating in its governance, helping to set parameters Such as interest rates (stability fees) and minimum collateral ratios.

To obtain USDJ in JUST, traders must deposit collateral in the form of backed collateral tokens – including TRON (TRX), which is exchanged for PTRX tokens and locked as collateral when a debt position arises. Forms collateral (CDP). Depending on the amount of collateral deposited, users can multiply and withdraw the USDJ, which must then be repaid to recover the original collateral. This platform is designed to provide a fair and borderless center of DeFi products that any TRON user can access.

How does JUST (JST) work?

Just is a platform that encourages users to maintain a network. JST rewards users who help verify network transactions and provide liquidity on the JUST network. JST owners also participate in network management.

The more people who use the USDJ and the JUST Just network, the more valuable the Just token becomes. As mentioned in the previous sections of the article, the USDJ acts as a stable coin on the Just platform, where users can receive a stablecoin on the Just platform by depositing a mortgage account. In fact, individuals can receive USDJ by creating an account on the Just JUST platform and using smart contracts.

The features of JUST (JST)

There is another notable catch about Just Digital Currency. Tron Network claims to be the largest ecosystem of decentralized applications in the world, providing fully transparent financial services to all users. JUST has also been created on the Tron network and intends to implement these goals. As a result, Digital Just, like other tokens created on the blockchain, is a TRC-20 token.

JST management token, JST, was introduced on May 5, 2020, with the Poloniex LaunchBase token sales mechanism. According to the official website of Poloniex, the main features of Just are:

Just is a decentralized StableCoin project created on Tron Network. It aims to create a completely open and fair financial platform for people all over the world.

Users can obtain the USDJ stable coin by depositing a specific account secured by Tron. The project is managed by all members of the Just community, and each person’s mastery will depend on the number of JST tokens he or she maintains. The requests and decisions of this project are shared with all members and after voting, they are made according to the opinion of the shareholders (people who have JST).

This platform is fast and practical, and transactions or transfers will be done for a very small fee. Anyone can create a free account on the Just platform and easily earn USDJ using JUST smart contracts. Everyone who maintains JST will be involved in managing the USDJ network and system. Members of the Just Society community will have access to the Tron application ecosystem and the many applications that exist in the Tron network.

Who are the founders of JUST?

The JUST ecosystem is managed by the JUST Foundation, which includes people from Alibaba, Tencent, IBM, and “other global Internet companies”, while the JUST financial analysis team is from “several global investment banks” based on the project website.

Some of the most prominent are Trans F (blockchain expert and former employee of Barclays and IBM), Elvis Zhang (a senior developer and experienced Blockchain researcher), Si Woo (wallet and exchange specialist), and GL Kong (an Experienced Blockchain Engineer and early crypto adopter).

The full names and details of most members of the JUST team are not public. However, the project appears to be overlapping with the TRON development team, as the platform was announced by TRON CEO and founder Justin Sun and received technical and financial support from TRON.

What makes JUST unique?

Unlike most other DeFi platforms, JUST is not just looking for a single product to help a small subset of DeFi users. Instead, it seeks to build a complete set of products that cover a wide range of DeFi applications and form the basis of a complete DeFi ecosystem in TRON. As of January 2021, the JUST ecosystem consists of five distinct products, all of which are designed to collaborate and provide additional tools to users.

These are:

JustStable

 JUST decentralized multi-collateral stable index platform JUST. JustLend: A TRON-based money market protocol that allows users to add liquidity to lending pools and receive low-interest digital currency loans.

JustSwap

 An automated market maker (AMM) platform is used to exchange untrusted TRC-20 tokens and create unlicensed cash pools.

JustLink

 The first decentralized Oracle system for the TRON network – used to secure smart contracts with real-world data.

Cross-Chain Tokens

Assets of other blockchains, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), are tokens in TRON and can be used in the JUST ecosystem.

Advantages and disadvantages of JUST (JST)

Now that you know what a JUST coin is, you are probably wondering if it is worth the investment. Let’s take a closer look at the advantages and disadvantages of JUST coin.

Pros

• Smart contracts protect your assets and guarantee that you can exchange tokens/coins and enjoy the benefits of price increases.
• You can earn money by paying and maintaining the JUST platform produced by USDJ.
• There are hundreds of decentralized applications within the network.
• Built on the successful TRON network, JUST now has an active network of owners and builders.

Cons

Some crypto viewers have been met with disapproval because they believe that its founder, Justin Sun, should focus on one platform instead of many. You cannot win JST with JST betting (although you can bet TRX with USDJ). TRX owners and TRON users get the most out of JUST. A two-coin system can be confusing is another drawback of JUST (JST). Some see the JUST coin as a copy or copy of the MakerDAO system, in which DAI can be used as collateral to multiply a token.

In conclusion

In general, the JUST ecosystem pursues interesting goals; it remains to be seen whether the team behind this project can achieve its goal in the future. Having people like Justin Sun and the big companies behind the project can have great potential for growing the value of Just Token. In general, there is no global consensus on future positive or negative changes in the price of digital currency. In fact, the potential growth of this token depends on several factors: team announcements, new technologies of Just projects, the cryptocurrency market in general, the legal status, and so on. Remember that it is important to do your research before investing in any digital currency. 

The Decentraland platform with MANA native tokens is a virtual world based on the Ethereum blockchain where users can buy and sell or develop virtual worlds of this world.

Each non-replaceable token (NFT) actually indicates the user’s ownership of part of the Decentraland. Each section of Decentraland is completely unique and the owner can choose what content to publish in it. This content can be a simple white scene or a fully interactive game. Users of this platform can purchase their desired goods and services from this virtual world with the ERC20 platform with Mana ciphers.

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Decentraland is a shared virtual world. The world that fiction novelist Neil Stephenson talked about years ago. Decentraland also has a virtual economy where users can manage large financial transactions and earn money by producing and delivering content or apps. This world is very similar to the Second Life virtual game, except that it is not controlled by a centralized organization or company.

What is Decentraland (MANA)?

As the digital currency market continues to expand, new projects are emerging. Although many of them have already disappeared, only the most successful and advanced are active. Decentraland was created in August 2017 after an initial coin offering (ICO). The ICO was so successful that MANA tokens sold out in just a few seconds.

According to the project description, the MANA digital currency will allow users to buy land in the virtual reality economy.

The team behind the project began work on Decentraland in 2015, in which they provided conceptual proof of digital property ownership to users on a China blockchain network. Technology leader Esteban Ordano is the founder of Smart Contract Solutions. Project leader Ari Meilich was a market research analyst at CRV.

Through an Atrium Smart Contract (ETH), LAND ownership over the Chinese block is maintained. This makes Decentraland one of the largest Atrium Network-based projects in terms of volume.

Today, this network continues to expand with different developments at different levels. This includes creating avatars, improved mapping tools, land auctions, and more.

Decentraland has already signed many partnerships with other projects including Aragon, area0x as well as imToken. Some of the network’s consultants include Luis Quend, Aragon project manager, Jake Brockman, co-founder of CoinFund, and Xiolai Li, founder of INBlockchain.

MANA is a virtual currency that powers the entire Decentraland ecosystem from auction to transfer. The MANA digital currency is one of the top 45 ERC-20 tokens and is among the top 120 CoinMarketCap tokens. In various cases, it has been traded among the top 80 valuable tokens.

History of Decentraland

Decentraland started out as a Proof of Concept to offer digital real estate ownership to users of a Chinese blockchain. This digital asset was initially implemented as a pixel in an infinite 2D network, each pixel containing metadata identifying the owner and describing its color. This stage was called the “Stone Age of the Decentralized”.

 In late 2016, the network team developed the Bronze Age, a 3D virtual world divided into a series of plots. The owner of each package of these snippets could create a reference hash for them using a modified bitcoin blockchain and refer to a file. Through this reference hash, users browsing this virtual world could use BitTorrent and a Distributed Hash Table to download the file containing the package, which in fact it represented the models and context of the relevant area in the game.

The next version of Decentraland is the Iron Age, which will create a social experience alongside economies of current levels of land ownership and content distribution. In the Iron Age, developers could build and distribute apps in the Decentraland and make money by selling to other users. Iron Age will implement a peer-to-peer relationship and a scripting system that brings interactive content to a faster cryptocurrency payment system for global transactions.

You may be a little confused about how this virtual world works. But don’t worry, this was just a history of how Decentraland evolved, and we’ll learn more about how it works later.

How does Decentraland work?

The Decentraland app is built to track real estate packages defined by LAND tokens. The software uses the Ethereum blockchain to track digital currency ownership and asks users to keep their MANA password in their Ethereum wallet to engage with their ecosystem; In addition, developers can innovate in the Decentraland platform by designing animations and experiencing interactions in their virtual real estate.

Architecture

Decentraland has many layered components built using Ethereum smart contracts. Maintains an office consensus layer that tracks land ownership. Each packet of LANDs has unique coordinates in the virtual world, including an owner and a reference to a description file that represents the contents of the packet. The content layer controls what happens in each package and includes the various files that are required to provide them:

• Content Files – Refer to all still audio and video images
• Script files – Define the placement and behavior of referenced content
• Interactive files – Peer-to-peer interactions such as voice chat and messaging

Marketer and manufacturer

Outside the game environment, the Decentraland Market team can access scene creation with a drag and drop editor. This market allows participants to manage and trade LAND tokens at the MANA price. Owners can use the marketplace to trade or transfer packages and other in-game items such as unique emails.

It is important to note that all transactions are made between Ethereum wallets; it is therefore verified by the Ethereum network and entered into its blockchain. Decentraland build tools allow owners to experience a unique experience in their LAND packages. Interactive scenes are designed through its editing tools, where developers can access libraries for customization and payment execution.

What is a MANA token?

Mana Token is a digital token based on the ERC20 blockchain. With this token, you can buy virtual goods and services or NFT tokens in the world of Decentraland. Mana digital currency can be bought and sold in reputable digital currency exchanges around the world. There are a total of 2.8 billion mana, 600 million of which were burned during the Land auction in Central Australia.

In fact, Mana is the way the Decentraland world communicates with the real world. The token can be traded in Decentraland and then transferred to a digital currency exchange and converted mana into cash (Fiat). This is the closest way to connect the Metaverse world with the real world.

What are the uses of Decentraland?

Decentraland seems to be an interesting concept; yet why do they need Mana cryptocurrency? They have actually talked about some of their uses in White Paper, and here are a few:

Programs

Decentraland programmers can develop their own applications in text. This can include in-game games, gambling, and 3D scenes.

Advertising

Have you ever seen the iconic billboards in Times Square? Decentraland does the same thing but in digital form. Companies can pay users to advertise on billboards in the virtual world. They can use these ads to raise brand awareness or even create experiences where Decentraland users can interact with the brand’s products on the operating system.

Digital assets

Gamers love to collect rare items; Take World Of Warcraft, for example. Accounts with rare items can often fetch hundreds or even thousands of dollars. Decentraland developers can generate their own rarities rather than in-game trading and aggregation, creating more value and freshness for the operating system.

In conclusion

Decentraland is a unique project in the field of blockchain virtual reality platforms. It is completely free to explore, so you can easily enter this world. The Decentraland development team has grown it from a small project to something it has become after 5 years.

Litecoin is one of the oldest coins in the cryptocurrency market. This coin was launched by Charlie Lee in October 2011. Lee was a former Google employee who designed Litecoin to complete Bitcoin and solve some problems such as transaction time, costs, and centralized mining pools. Charlie Lee made changes to the Bitcoin codes and protocols to make it more suitable for everyday use and to make it more widely accepted.

You can also read: How to use Coinmama? (The complete guide)

What is Litecoin (LTC)?

Litecoin is a peer-to-peer cryptocurrency that aims to enable immediate and near-free payments that can be made among people or institutions around the globe. Perhaps the most important reason for recognizing this coin is the use of mathematical code similar to Bitcoin. However, the supply of this digital currency and also its processing pace is four times that of Bitcoin.

Cryptocurrency is an online digital currency that merely acts as a means of direct financial exchange without the intervention of banks or other third parties. Most cryptocurrencies, including Litecoin, are decentralized.

This mechanism contradicts what we are usually used to, a central bank-dependent currency system. Such currencies are generally controlled by the government of the country or group of countries that issue that fiat currency (such as the US Dollar or Euro).

The purpose of cryptocurrencies creation is to decentralize the banking system. Many people who have tried to send or receive money through financial institutions or to and from other countries have probably run into problems.

Honestly, it is not easy to understand how money is sent between banks, its costs and why transactions take so long. These problems become more apparent in the digital age for tech enthusiasts as well as organizations that transact large amounts of money.

Charlie Lee’s goal in designing Litecoin was to complement bitcoin, not to compete with it or replace it with another cryptocurrency. This is why Litecoin is sometimes called the “little brother of Bitcoin”. According to Lee, he wanted to create a “silver” version of Bitcoin for “gold”.

Since Litecoin (LTC) can create a new block in 2.5 minutes (unlike Bitcoin: 10 minutes), its transaction time is also faster; Therefore, this digital currency is often considered a “lighter” and faster version of bitcoin.

What are the main features of Litecoin?

The main considerable features of Litecoin (LTC) are:

Blockchain

Litecoin works perfectly while handling a large volume of transactions. The reason for this capability is that Litecoin has incorporated features such as the Frequent block generations, Segregated witnesses, and Lightening. These traits enable it to support large volume transactions without any future need to make any adjustments to this software.

Mining

Scrypt is the algorithm that is used in Litecoin (LTC). It is responsible for determining the mining process of the Litecoin tokens. Litecoin’s major function is to authorize utmost degrees of the parallel processing ways that are more accessible to the novel miners than the traditional algorithm. While utilizing the Scrypt algorithm the users are assured of mining the Litecoin without worrying about using the AISIC-based hardware for mining. The AISIC-based hardware comes close with the SHA-256 algorithm. With the help of such a technology, Litecoin will be able to process four times what Bitcoins can supply annually.

Industrial Integration

Litecoin was developed as a hard fork for Bitcoin. This makes it a result of two similar cryptocurrencies. This coin is well integrated into the world of digital currencies receiving a lot of support from its loyal and passionate community of clients. These clients include the ATMS, Online exchange platforms, both the merchants who are found online and offline, developers, and web casinos.

How does Litecoin (LTC) work?

To understand this, it is best to first get acquainted with the technology involved in blockchain. In a blockchain, information is encoded and stored in a block, and each block is interconnected to form a chain. This chain of information acts as the general ledger of Litecoin transactions.

Blockchain is an open distributed office that, as quoted by Harvard Business Magazine, “can record transactions between the two parties effectively and in a verifiable and permanent manner.” The general ledger can also be programmed to perform transactions automatically.

The information used in the blockchain system is kept secure using encryption techniques. Transactions performed using blockchain technology are generally thought to be unknown. Yet, are actually registered under a pseudonym since each user has a public address, and if someone bothers, they can track a specific transaction to the IP address.

Litecoin, like many other digital currencies, is mined by users in exchange for rewards. Miners validate transactions by solving complex mathematical equations and creating new blocks. Miners receive a reward for extracting 25 new Litecoins per block, and this bonus is halved every four years (after extracting every 840,000 blocks).

The maximum supply of Litecoin (LTC) is 84 million units, which is four times more than Bitcoin. Like Bitcoin, Litecoin (LTC) was designed in such a way that most of the possible coins were mined in the first two decades of operation.

The constant number of coins that can be extracted also means that inflation, unlike currencies such as the dollar, pound, or euro, will not affect the overall value of the digital currency.

Forex traders who feel that the value of a fiat currency may depreciate can buy Litecoin and sell it at a profit in the future and convert it into a base currency. External influences (such as governments) may devalue the fiat currency through inflation and money laundering, but Litecoin is safe from such manipulation, making it more sustainable in the long run.

In conclusion

Litecoin (LTC) has a lot of potential for growth, potential applications, and widespread acceptance. It remains to be seen which companies will start accepting it to purchase their products and services. Along with this, the future of Litecoin and other digital currencies is not entirely clear to anyone.

One such new cryptocurrency exchange, Coinmama, has been providing services to millions of customers from 188 different nations. Their primary reputation is for quick credit card transactions. You can quickly purchase Bitcoin and seven other cryptocurrencies at Coinmama.

A reputable brokerage company in the cryptocurrency industry, Coinmama provides trading services for Bitcoin and other popular cryptocurrencies. Purchasing your first Bitcoin is a fairer and easier exchange for beginners.

You can also read about Understand the Three Subnets of Polkadot: Relay Chain, Parachain, and Bridges

A simple, reliable, and user-friendly platform to purchase and sell cryptocurrencies is Coinmama. It’s a fantastic option for both inexperienced and seasoned traders. Although having a stellar reputation and first-rate customer service, its exorbitant fees may come as a shock to some.

While being more expensive than other cryptocurrency exchanges, Coinmama offers the highest level of security. The trading platform for cryptocurrencies costs 2.3% more than the going rate and levies commissions of up to 3.9% on purchases of cryptocurrencies and 0.9% on sales. A 4.99% fee is applied to payments made with a credit card, debit card, Apple Pay, or Google Pay.

What is Coinmama?

The goal of Coinmama, which was established in 2013, is to make it easier for users to purchase Bitcoin (BTC). Since then, we have assisted over 3,400,000 users throughout 190 nations. To buy Bitcoin and Ethereum today, Coinmama consumers can use a wire transfer from their bank account, credit card, or debit card. In some markets, bitcoin can also be bought and sold.

The business prioritizes client satisfaction and customer service to make transactions quick. This is a great alternative for newcomers to purchase their first Bitcoin. Advanced traders can reduce transaction costs by using alternate trading platforms.

How do I sign up and use coinmama?

Haven’t created an account at Coinmama yet? No need to worry, it’s incredibly easy.

If you haven’t yet opened an account with Coinmama, do not be concerned because it is really simple:

You simply go to https://www.coinmama.com/, click the Join Up button, and provide the necessary information. Your registered email address will receive a verification link. Simply click Confirm Your Email, and a page for email verification will appear.

Here is where you can follow these steps by Coinmama login:

1. Enter your contact information and click “Next”
2. Upload your ID. To accomplish this, first choose the ID type, then fill out the ID number and expiration date, and last submit ID photographs.
3. Notably, Coinmama additionally wants you to upload a photo of yourself holding the ID and a piece of paper with the words “Coinmama” and the current date inscribed on it for added protection.
4. Following the upload of the pictures, select “Submit For Approval”.
5. Await and email to confirm that the verification process has been successful (could take up to 29 minutes)

How to Buy and Sell a Cryptocurrency with Coinmama?

Step 1: Choose your crypto

To buy Bitcoin or Ethereum with Coinmama, log into your account. Make your selections for the cryptocurrency you want to purchase and the payment method.

Step 2: Select your amount

Click “buy now” after selecting one of Coinmama’s cryptocurrency bundles or after entering the precise quantity you wish to purchase.

Step 3: Enter your wallet address

Enter the wallet address you obtained from your preferred third-party wallet provider. Find out more about creating a bitcoin wallet here if you don’t already have one.

Step 4: Choose your payment method

Purchase cryptocurrencies using a credit card, debit card, or a direct bank transfer. To enter your payment information or start a bank transfer from your account, follow the on-screen instructions.

Step 5: Confirm your wallet address and receive your coins

If the wallet address is correct, look for a wallet confirmation link in your email and click on it.

We will send the money right away to your wallet after your payment has been accepted and your wallet address has been verified!

Through “My Account,” you can check the progress of your orders at any time.

Is there any Coinmama app in the market?

The wallet is not provided by Coinmama. Instead, the business will deliver money to any wallet you may have. There is no iOS app. There is just one Android app available.

Conclusions

Reputable organization, Coinmama, offers decent customer service. The price is the only drawback. Sadly, using a credit card makes it impossible to avoid this, but given the quick service, it’s occasionally priceless.

Polkadot is software designed to encourage a global network of computers to perform blockchain processes so that each user can set up their system and run a dedicated blockchain. Polkadot works with the original token called DOT.

In this way, Polkadot is one of the blockchains that competes with other blockchains to grow an ecosystem of digital currencies, including Ethereum, Cosmos, and EOS.

You can also read: All you should know about Bitgert

With all the interpretations, Polkadot was released in 2020 and had one of the latest blockchain technologies with an updated version, and specific goals have been set for it, which we will discuss below.

What is DOT

Polkadot is built to run two types of blockchain: a core network called relay chain whose transactions are permanent and user-created networks known as parachains.

With this design, the Polkadot team claims that it can keep transactions accurate and secure and use them in a way that only requires resource calculations in the main chain. Users can take advantage of customizing parachains for different functions.

The design of this blockchain allows users to execute transactions more efficiently and securely by creating blockchains so that user information is not placed on the public network and among the large population of transactions.

Polkadot has already received about $ 200 million from investors to provide DOT digital currency, one of the most significant initial investments by a blockchain.

If you are one of those users who want to follow the route map of Polkadot projects, you can do so through their official website.

How does Polkadot work?

The Polkadot network allows users to build three types of blockchain:

Relay Chain: Polkadot is the leading blockchain in which transactions are performed and recorded. To achieve more speed, the relay chain is split to add new transactions so that the transaction approval rate can be done more quickly. This model allows Polkadot to authenticate more than 1000 transactions per second.

Parachains: The Parachains blockchain is a custom network that uses the relay chain’s computational resources to authenticate transactions.

Bridges: This chain type allows the Polkadot network to communicate with other off-grid blockchains. With the creation of new bridges towards blockchains such as EOS, Cosmos, Ethereum, and Bitcoin, users can exchange their digital currencies.

The Relay Chain

To maintain system state validation, the Relay chain in Polkadot uses PoS-based Consensus algorithms known as NPoS. This system allows anyone who wants to stack DOT by locking a cryptocurrency in a specific contract to play different roles:

• Validators: This role involves validating data in Parachain blocks. They can also participate in the consensus and vote on possible changes to the network.
• Nominators: Secure the Relay Chain network with valid verifiers. Nominators also delegate their shareholder DOT tokens to credentials and assign their votes to them.
• Collators: Nodes that maintain and execute a complete history of each Parachain and total transactions in blocks.
• Fisherman: Inspects the Polkadot network and reports confirmation issues.
• Users who stack DOT and have these roles can also receive DOT as a reward.

Polkadot Governance

Different users with different roles in Polkadot can influence software development and networking. These include the following:

DOT Holders: Anyone who buys DOT tokens can use their tokens to make changes to the network or possible future changes.

Council: This role is determined by DOT shareholders. Council members are responsible for setting up changes and determining which changes to the software are made by DOT shareholders.

Technical Committee: Composed of teams that actively build Polkadot. This group can submit specific proposals in times of emergency. The members of the Council appoint the members of the Technical Committee.

Polkadot DOT main features

What are the main features of Polkadot, and how it differs from Ethereum is a question that many digital currency users have in mind? Polkadot was introduced as a more developed blockchain network than Ethereum based on a similar structure. This means that Ethereum 2.0 has many similarities with Polkadot.

Both networks have a core blockchain in which transactions are performed, and the standards are almost identical. Their technologies use Staking instead of Mining to keep the network updated. Many transactions are exchanged daily between Ethereum and Polkadot blockchains, but the exact amount is unknown. However, the new technology is designed to allow users to do and use Ethereum code to run it on Polkadot.

Developers can use the Polkadot development framework to simulate Ethereum blockchain copy to implement better and faster designs on their network.

Conclusion

Polkadot was founded in 2020 and currently has one of the fastest blockchains globally. The three subnets Relay chain, Parachain, and Bridges are the main components of this system, each of which has its functions. Polkadot works with the original DOT digital currency and has received one of the most significant investments based on this digital currency to date.

Bitgert offers more features than only cryptocurrency buying and selling. It unleashes the potential for carrying out complex crypto transactions by facilitating transfers and providing payment options. Bitgert is the most rapidly expanding, trustworthy, and secure cryptocurrency trading platform, impacting the world by promoting economic freedom.

You can also read about Tectonic Crypto (TONIC): What Is It and Should You Invest?

What is Bitgert?

Although the Bitgert ecosystem is now built on the Binance Smart Chain (BSC), they have created their own blockchain that can allegedly process over 100,000 transactions per second with no transaction fees. According to Bitgert, its ecosystem has had a total of 350,000 members since its creation, and its blockchain has handled over 4 million transactions.

In July 2021, Bitgert debuted as an app on BSC for the first time. The project’s initial name was Bitrise, and the ticker for its native cryptocurrency was BRISE. Bitgert became the new name for Bitrise in December 2021. The platform has continued to run on BSC since the rebranding had no effect on the coin or its ticker.

Bitgert news indicated its own blockchain network in February 2022 utilizing a cutting-edge “proof of authority” (PoA) validation system. Common names for this new network are Bitgert and Brise Chain. The project advertises itself as a platform that charges no gas fees and has a transaction processing rate of up to 100,000 per second (TPS). If the assertion is accurate, the blockchain will become one of the quickest, second only to Aptos, which has a maximum throughput rate of 160,000 TPS.

Despite Bitgert’s promises to have “zero gas fees,” using the blockchain incurs a modest amount of transaction fees. These charges, referred as as gas costs, are typically paid in the BRISE token each transaction and are fractions of a cent in size.

How Does Bitgert Work?

As previously said, Bitgert is a blockchain-based crypto engineering company built on the Binance Smart Chain (BSC) blockchain that aims to provide solutions for blockchain-based audits and products across the globe. The company has developed the Brise Chain, a quick-working blockchain, to help achieve this goal.

According to Bitgert, the proof-of-authority (PoA) design is what enables the BRISE Chain to offer short block times and low costs. Smart contracts are supported by its chain, which is also compatible with the Ethereum Virtual Machine (EVM).

Because BRISE is EVM-compatible, it launched with support for the wide range of Ethereum (ETH) tools and decentralized applications (dApps), making the switch from Ethereum for developers simple.

The Bitgert crypto ecosystem now includes the decentralized exchange (DEX) SPYNX Labs, the non-fungible token (NFT) market Miidas NFT Marketplace, and the decentralised finance (DeFi) protocol Knit Finance.

The native coin of the Bitgert and BRISE Chain crypto ecosystems, BRISE runs on smart contracts. These contracts allow the token to be traded and swapped for ERC-20 (based on Ethereum) and BEP-20 (based on Binance) tokens.

Is Bitgert A Good Investment?

Investing on Bitgert coin or the project’s token, BRISE, is difficult to detect. As of the beginning of 2023, the price of the BRISE token was a pitiful US$0.000000380940. With a diluted price of US$380 million, the maximum supply of tokens is one quadrillion. Hence, for the value of the Bitgert coin to double, the project’s diluted valuation would have to rise by US$380 million.

The price of the Bitgert coin has already achieved an all-time high of US$0.00000184, therefore an increase from the present value is possible. The project uses marketing effectively and attracts investors with its low token price and outlandish claims.

Bitgert Price Prediction 2023

According to the technical analysis of Bitgert prices expected in 2023 Bitgert price predictions show that the minimum cost of Bitgert will be $0.0000006599. The highest price that BRISE can trade at is $0.0000007499. The predicted average trade price is $0.0000006799.

In conclusion

Due to the large 395.68 trillion Bitgert token circulation supply, absence of a sizable social media presence, lack of project updates, and an environment overloaded with coins, Bitgert is at a crossroads.

Furthermore, Bitgert is surrounded by a number of cautionary tales. Its ownership structure, utility token, and auditing procedures continue to raise questions. Investors must carefully analyze each of these issues before deciding whether to invest in the BRISE coin. There is no easy fix and no guarantee that the asset will turn a profit over the long run.

The data, which includes Bitgert price predictions, is not intended to be either investment advice or a replacement for the advice of a qualified financial advisor. You should conduct your own research before purchasing Bitgert.