Is people is crazy about the bitcoin | TechTree.com

Is people is crazy about the bitcoin

Nevertheless, blockchain is a unique technological solution that allows you to solve any problem - but, as a rule, due to usability

 

There are many “add-ons” to facilitate, speed up and reduce the cost of crypto transactions. Cryptocurrencies are “wrapped” in different “wrappers” (for example, Wrapped Ether), integrated into alternative systems developed by third parties - all of them are usually compatible with each other, but each requires the development of precisely its technical features. Thus, the so-called frictionless - uninterrupted - transactions at the present stage of development of cryptocurrencies are impossible and will become possible only if the system is unified, which means ideologically unacceptable centralization.

Nevertheless, blockchain is a unique technological solution that allows you to solve any problem - but, as a rule, due to usability. For example, they try to cope with fluctuations in cryptocurrency rates with the help of the so-called “stable coins” - cryptocurrency tokens tied to the rate of a hard currency, usually a dollar. Here at bitcoinslifestyle.com/login one can get latest information about bitcoin.

 How to trade with the bitcoin using internet

One USD Coin is always one dollar secured by a bank reserve .This tool will be especially convenient for citizens of developing countries with high inflation, such as Argentina and Uzbekistan.

Surprisingly, recently “stable coins” appeared in Belarus. You can trade them on a specially developed for this internal, centralized exchange on the platform finstore.by, which is supervised by BelVEB Bank. To do this, you need to fill out a questionnaire, take a test and “confirm the status of a qualified investor by ticking the appropriate check box (only for residents of the Republic of Belarus)” ... After that, you can buy and, ideally, sell Belarusian “stable rubles” Stable dollars” and “stable euros”, as well as tokens-bonds of Belarusian enterprises, omennoi as ICOs - that's just their value in the cryptocurrency market will be zero.

They cannot be withdrawn to a virtual wallet opened outside the finstore.by platform or to another platform. Registries is a separate node in the blockchain network.

Each transaction — in our case, the hiring of an employee — is accompanied by a uniform and unchanging record of this in each of the many network nodes (in our case, your list). Entries in each of the registries follow the chain, one after the other, and this is how they are permanently recorded on paper, although later they can be accessed in any order. If one of the logs is lost or deliberately destroyed, its contents can be restored to any of the same registries in which a similar entry was made. Such an architecture is one of the reasons why data on the blockchain is updated relatively slowly, but at the same time have such high reliability.

For example, it is believed that one of the main innovations proposed by Satoshi Nakamoto - the alleged inventor of bitcoin - is to prevent the same amount of electronic money from being spent again using cryptographic verification. However, as it turned out, the architecture of Bitcoin itself is vulnerable to double spending - including because transactions on it can be confirmed for a long time. Now this problem is being solved by the developers of cryptocurrency wallets. And this is not the only myth about blockchain and cryptocurrencies.

Instant and free transactions in bitcoin

Let's get back to the issue of instant and free transactions. On a more modern Ethereum platform, in order to carry out a transaction, you need to pay a certain amount - the so-called "gas price". On days when the Ethereum network is congested, this amount will be a significant part of your transaction.

 If you pay less than some safe limit, your transaction will freeze for several days, and in the worst case, for weeks, and you will not be able to make other outgoing transactions from this wallet until you complete the previous one. To do this, you can try to pay a large commission, or even try to cancel the transaction - but the latter can cost you even more.

Another strong difference between cryptocurrency and fiat money is the complete absence of inflation. If we take the national currency as a tool for deposits, the investor will lose part of his money earned as a percentage of money as a result of depreciation of the currency

 


TAGS: Cryptocurrencies

 
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