The Block Chain is Good for Business

A Block chain, which was originally spelled as two words, block chain, is a distributed ledger/database. It contains a growing list of records called blocks. Every block is time-stamped and is linked to the previous block. Block chains are designed to record data in a manner impervious to alteration once it is created.

 It cannot be changed or manipulated in retrospect. In general a Block chain is a distributed ledger that is open. This ledger keeps track of transactions between parties in a permanent fashion. Some transactions may be automatic. Block chains are well suited for financial transactions, medical and legal records, property rights, identity security, deeds, etc. Block chains have the potential to change the world.

 So some people think the Block chain is a foundation technology… while others feel it’s a disruptive technology. In any case, the genie is out of the bottle and it all depends on how you look at it. I believe that the Block chain and the new internet of value are here to stay.

The Harvard Business Review describes the Block chain as a distributed database or ledger that is open to all. There are now over 700 digital currencies that relay on Block chain technology. Some of them will come and go.

 But banks do not want to lose the upper hand when it comes to financial matters. Therefore many banks are exploring their own Block chains and digital currencies because they don’t want to lose customers. On the other hand, there are millions of UN banked people in the world. They often do not have enough money to open up a bank account or may live too far away from a bank. Digital currencies like Bit coin has proved very popular in these countries.

Another benefit of digital currencies is that they can be stored on a phone or computer. Money from digital wallets can be sent for example by an immigrant domestic worker in Canada back to her mother in the Philippines within minutes with reduced fees compared to a “Western Union” type remittance service that charges anywhere between 10 -15% plus it’s slower.

In a time when internet hacking, identity theft, spam, and phishing are major issues (not to mention a regular thief who robs your house or a pickpocket who lifts your wallet in a crowd)… Satoshi’s Bit coin Block chain is the safest and most secure because it is the longest. It is protected by users and miners. The miners have a huge stake in protecting that particular Block chain because they are rewarded when they figure out and solve the secret puzzle of each block.

They also have huge electric bills to mine the coins and they invested in very expensive software to do it. So those miners are very committed to the Bit coin Block chain in particular. It would take a tremendous amount of electricity to even attempt to hack the Bit coin Block chain. Therefore, hackers are more likely to go after smaller and less secure Block chains. That’s why I stake my claim on Bit coin and the Bit coin Block chain!!

The Block Chain is Best for Your Future

Bit coin of course was the first block chain, the legacy block chain as it’s also known. The developments that Ethereal brought to the table qualified it as the “second generation block chain? And now we’ve moved on to “next generation? Block chains. (Insert Star Trek reference here) Neblio isn’t the only platform that identifies itself as this, there’s also IOTA and NEO that use this terminology.

These platforms do different things but clearly they are proud of their efforts for moving block chain tech forward. OK, back to Neblio, right off the bat I recognized the similarities between Neblio (September 2017) and Straits (August 2016) and Qtum (June 2017) in that these platforms are focused on introducing block chain technology to the world of business.

But they do have some differences. Straits offers en-to-end solutions for development, testing and deployment of block chain apps specifically in the C# programming language. Qtum combines the strengths of Bit coin and versatility of smart contracts to provide a formidable platform for designing block chain apps. Neblio recognizes the gap between the mainstream business world and the often times technologically difficult world of block chains.

They are focused on filling this gap and bringing block chain tech mainstream. Neblio Uses Proof of Stake And their website and white paper place a lot of emphasis on simplifying the process for businesses that are interested in implementing block chain technology into their practices. They’ll achieve this with easy to use APIs that are programmable in many of the popular coding languages for the launching of decentralized applications.

Earlier this year on day one of the pre-sale back in August, Neblio had a GUI wallet available, their source code was made available on Gift Hub and The Neblio Block chain Network went live. It’s not too often that a project holding an I C O has an actual product to offer for those who are investing.

I’ll admit that this was a nice surprise to see and I hope it’s an indication of the progress this team will achieve in the future. The current road map for Neblio shows that their plans for later this year include the launch of Elect rum-based wallets.

The Block Chain Explained!

A Block chain, which was originally spelled as two words, block chain, is a distributed ledger/database. It contains a growing list of records called blocks. Every block is time-stamped and is linked to the previous block. Block chains are designed to record data in a manner impervious to alteration once it is created.

 It cannot be changed or manipulated in retrospect. In general a Block chain is a distributed ledger that is open. This ledger keeps track of transactions between parties in a permanent fashion. Some transactions may be automatic. Block chains are well suited for financial transactions, medical and legal records, property rights, identity security, deeds, etc. Block chains have the potential to change the world.

In 2008 Satoshi Naka motto developed the first Block chain which led to the creation of the digital currency called Bit coin. Naka motto’s experiment with the Block chain protocol solved the riddle of the “double spend” problem (without using a middleman) which had plagued programmers for years. The history of Block chain technology dates back to the 1990’s but cryptographers were still searching for secure solutions.

But the Block chain used for Bit coin has now become the gold standard and has inspired others that are being called Block chain 2.0, which go beyond the internet of money and include smart contracts that create invoices that execute them. They also can be used for intellectual property rights, musical and artistic creations, legal records, property rights management, scientific discoveries, votes, deeds, etc.

 The Block chain allows for secure online transactions. Block chains allow for the internet of value rather than the internet of information. They allow for peer-to-peer transactions. A decentralized Block chain tends to lead to more of a secure network. Open Block chains are user-friendly.

So some people think the Block chain is a foundation technology… while others feel it’s a disruptive technology. In any case, the genie is out of the bottle and it all depends on how you look at it. I believe that the Block chain and the new internet of value are here to stay. The Harvard Business Review describes the Block chain as a distributed database or ledger that is open to all. There are now over 700 digital currencies that relay on Block chain technology. Some of them will come and go.

 But banks do not want to lose the upper hand when it comes to financial matters. Therefore many banks are exploring their own Block chains and digital currencies because they don’t want to lose customers. On the other hand, there are millions of UN banked people in the world. They often do not have enough money to open up a bank account or may live too far away from a bank. Digital currencies like Bit coin has proved very popular in these countries.

In a time when internet hacking, identity theft, spam, and phishing are major issues (not to mention a regular thief who robs your house or a pickpocket who lifts your wallet in a crowd)… Satoshi’s Bit coin Block chain is the safest and most secure because it is the longest. It is protected by users and miners. The miners have a huge stake in protecting that particular Block chain because they are rewarded when they figure out and solve the secret puzzle of each block.

They also have huge electric bills to mine the coins and they invested in very expensive software to do it. So those miners are very committed to the Bit coin Block chain in particular. It would take a tremendous amount of electricity to even attempt to hack the Bit coin Block chain. Therefore, hackers are more likely to go after smaller and less secure Block chains. That’s why I stake my claim on Bit coin and the Bit coin Block chain!!

What is Block Chain Development

The Block chain technology can be a new name for the readers but the experts have a strong opinion that due to this technology we can witness a big changeover in the field of technology. Thus, various companies are seeking good opportunities in the field of Block chain Application Development.

The block chain is an emerging technology so that, most of the people are not aware of this new advancement. If you are one of those who wish to have a considerable knowledge of the technology, just carry on reading the information provided below.

What do we mean by Block chain?

Block chain works like a digital ledger in which transactions are made with the use of Bit coin or crypt o currencies. According to the Block chain experts, this technology provides an absolutely safe way for making or recording all the transactions, agreements or contracts. Moreover, Block chain is valuable for everything that is needed to be verified and kept in a safe digital ecosystem.

From the initial point of the beginning of the network, the database is shared between a numbers of users that are included to access the information of all the transactions. The total size of the network varies according to the number of users that may be two or three users or it may be a group of hundreds of the users.

What is the use of Block chain Technology?

The experts are trying to use it for more than one objective and nowadays, the most visible and prominent use of the Block chain technology is Bit coin. Bit coin has been helping the people engaged in financial transactions since 2008. In addition, the experts are seeking for the ways by which the same technology can be used to solve or reduce safety, dispute or belief issues.

How is it used?

Specialized computer software is used to make the block chain automatically to share the information to the database in the case of a fresh transaction. A block chain contains blocks that are hashed or encoded batches of transactions. Each code, with the hash of the block before it, links the two and forms the chain that is a Block chain. This process needs the validation of each block to ensure the security of the overall database.

Why do we need Block chain Development?

As mentioned above, the Block chain is trying to make the technology more useful for the people who need to maintain an indisputable record of transactions. The Block chain technology provides ultimate clarity and transparency and can be used as an effective tool against the cases of corruption.

With the help of the Block chain technology, all the transactions take place in a safe environment where all the details are encrypted with the generation of a unique transaction number and this number is recorded in the ledger as a placeholder. In this case, not all the users would be able to see the details of the transaction.

However, the network will be aware of the transaction. This process limits any change of a fraud because the person with malicious plans must access every computer in the network to make changes in the database.

Due to the increasing importance of the Block chain development, a number of individuals or organizations are looking for a trusted and reliable Block chain Development Company.

How Block Chain Works

Block chain is a piece of software designed to create decentralized databases.

The system is entirely “open source”, meaning that anyone is able to view, edit and propose changes to its underlying code base.

Whilst it has become increasingly popular thanks to Bit coin’s growth – it’s actually been around since 2008, making it around a decade old (ancient in computing terms).

The most important point about “block chain” is that it was designed to create applications that don’t require a central data processing service. This means that if you’re using a system build on top of it (namely Bit coin) – your data will be stored on 1,000’s of “independent” servers around the world (not owned by any central service).

The way the service works is by creating a “ledger”. This ledger allows users to create “transactions” with each other – having the contents of those transactions stored in new “blocks” of each “block chain” database.

Depending on the application creating the transactions, they should be encrypted with different algorithms. Because this encryption uses cryptography to “scramble” the data stored in each new “block”, the term “crypt o” describes the process of crypt o graphically securing any new block chain data that an application may create.

To fully understand how it works, you must appreciate that “block chain” is not new technology – it just uses technology in a slightly different way. The core of it is a data graph known as “merkle trees”. Merkle trees are essentially ways for computer systems to store chronologically ordered “versions” of a data-set, allowing them to manage continual upgrades to that data.

The reason this is important is because current “data” systems are what could be described as “2D” – meaning they don’t have any way to track updates to the core data set. The data is basically kept entirely as it is – with any updates applied directly to it. Whilst there’s nothing wrong with this, it does pose a problem in that it means that data either has to be updated manually, or his very difficult to update.

The solution that “block chain” provides is essentially the creation of “versions” of the data. Each “block” added to a “chain” (a “chain” being a database) gives a list of new transactions for that data. This means that if you’re able to tie this functionality into a system which facilitates the transaction of data between two or more users (messaging etc), you’ll be able to create an entirely independent system.

This is what we’ve seen with the likes of Bit coin. Contrary to popular belief, Bit coin isn’t a “currency” in itself; it’s a public ledger of financial transactions.

This public ledger is encrypted so that only the participants in the transactions are able to see/edit the data (hence the name “crypt o”)… but more so, the fact that the data is stored-on, and processed-by 1,000’s of servers around the world means the service can operate independently of any banks (its main draw).

Obviously, problems with Bit coin’s underlying idea etc. aside, the underpin of the service is that it’s basically a system that works across a network of processing machines (called “miners”). These are all running the “block chain” software – and work to “compile” new transactions into “blocks” that keeps the Bit coin database as up to date as possible.

Whilst many people have blindly pledged support for block chain, it’s actually got a number of vulnerabilities – most notably which it relies almost entirely on the encryption algorithms employed by its various applications. If one of these algorithms fails, or users are compromised in any way, the entire “block chain” infrastructure could suffer as a result.

Trade Bitcoins and Get the Most Out of It

This digital rush of money that is sweeping the global investors is not only getting easier, but also riskier every day. While it was initially a simple peer-to-peer system for small transactions, it is now used for major investments and foreign luxury purchases, which has introduced newer strategies and uses.

 How does it really work?

Bit coin is a currency just like any other. It can not only be used to buy and sell, but can be used for investing and sharing, and can even be stolen. While the initial introduction of the technology came with a desktop program, it can now be directly operated through a smartphone application, which allows you to immediately buy, sell, trade or even cash your bit coins for dollars.

Investment with bit coins has become very popular, with major sums of money being put in every day. As a new investor, the rules remain the same as investing with real cash. Do not invest more than you can afford to lose, and do not invest without a goal. For every trade, keep certain milestones in mind. The ‘buy low and sell high’ strategy is not as easy implemented as said.

A great way to succeed faster when you decide to trade bit coins, however, is to learn the technicalities. Like cash investments, there are now several bit coin charting tools to record the marketing trends and make predictions to help you make investment decisions. Even as a beginner, learning how to use charting tools and how to read charts can go a long way.

 A normal chart will usually include the opening price, the closing price, the highest price, the lowest price and the trading range, which are the essentials you need before making any sale or purchase. Other components will give you different information about the market. For example, the ‘order book’ contains lists of prices and quantities that bit coin traders are willing to buy and sell.

Moreover, new investors will often quickly open unprofitable positions. With this, however, remember that you have to pay an interest rate for every 24 hours that the position is kept open, with the exception of the first 24 hours that are free. Therefore, unless you have sufficient balance to cover the high interest rate, do not keep any unprofitable position open for more than 24 hours.

While bit coin trading still has its drawbacks, like transactions taking too long to complete and no reversing option, it can benefit you greatly with investing, provided that you take small steps in the right direction.

What is Bitcoin Crypto Currency?

If you have never heard the word “Bit coin” -” BTC “, then you do not follow the world events in the field of finance. Despite the fact that lately, only lazy does not write about bit coins, almost no one can clearly explain the basic idea of ​​this system, not to mention the technical details. We decided to independently deal with bit coins and tell you about it.

Let’s start with the definition of the term and a brief history. The word “Bit coin” has several meanings; most often under it imply a decentralized anonymous e-currency. Despite the relatively recent surge in interest in bit coins .

The system appeared in 2008. It was then that a person (or a group of people — no one knows) under the pseudonym Satosi Naka motto published a report describing the principle of how the technology works.

Like any currency, you can exchange ordinary money for bit coins according to the established rate, for this there are many specialized exchanges. However, Bit coin differs from other virtual payment systems by the possibility of mining – each participant can play the role of a “gold miner” and find “grains of gold in the ore”.

For mining, you need a computer that will pick up 64-digit numbers, and this is most often done on a graphics processor due to higher efficiency. The computer generates random numbers, trying to pick up a key for a block – a bundle of bit coin exchange transactions. This process is carried out simultaneously with other members of the network; the winner gets 25 bit coins.

The bit coin system is decentralized and programmed to generate a fixed number of coins in a certain period of time. At the moment, every 10 minutes, 25 new bit coins appear in the network. In 2140, the total number of coins will be more than 20 million. In other words, the Bit coin system is not amenable to inflation and any influence from the outside.

When the system was only put into operation, it was possible to buy 1,300 bit coins for just one dollar. However, over the past years, the course of Bit coin has seriously changed!

Is it possible to exchange bit coins for real money?

Naturally. To do this, it is enough to use any exchange service.

In addition, you can buy various goods and services on Bit coins. For example, you can pay for a room in the Howard Johnson hotel chain with the help of accumulated bit coins, and the Bit Electronics store does only work with virtual currency.

Bit coins do not have any binding to a particular country, so the system offers a relatively convenient opportunity to move money around the world with minimal cost.

There are already a number of startups that base their business model, or one of the bit coin earning channels.

Have any of the readers come across bit coins in practice and have you tried mining?

Not?

 In vain, but everything is fixable. Look at today’s BTC course!

Where is the Exchange of Bitcoins

In response to the growing popularity of Bit coins, a large number of exchanges performing payment operations with crypto currency appeared on the Web. They produce them in any direction – buying, selling, exchanging, with drawing.

It is easy to choose a resource where the bit coin exchange will be made on the most favorable conditions. There are special monitoring sites on the Web. Their information helps to find the most profitable exchanges, where the commission for the operation will be minimal.

The exchange procedure for most of the resources is carried out automatically, and therefore takes no more than 5-7 minutes. Before drawing up an application, you should always pay attention to the currency reserve on the site. It is possible that the available amount will not be enough to complete the transaction.

Having chosen the direction to exchange bit coins, in the appropriate fields you should indicate the amount and the wallet to which it will be transferred. After that, you only need to confirm your desire to continue the operation.

 If all the data is entered correctly, the system will process the request and the funds will go to the specified wallet. The procedure for buying a crypto currency is identical. Simply, the user must select the desired direction, and when making a request, specify the identifier of your account.

For intermediary services, all exchange’s take a commission from their customers. Its size at various services varies, but only slightly. The average market commission is approximately 1%.

In addition to this method, users have the opportunity to exchange crypto currencies on special exchanges. The network will not be a problem to find such sites. Exchange acts as an intermediary between the owners of bit coins. All operations are carried out directly by users, focusing on the current rate.

The stock exchange is not the easiest place to perform bit coin transactions. Users have to literally “catch” lucrative offers. To wait for them can take quite a long period. While Bit coin exchanges performs operations with crypto currency in all directions quickly and safely.

How to cash Bit coins

The accumulation of funds in bit coins is the optimal solution. But there are cases when cash is needed urgently. The most correct way out of this situation is to withdraw the crypto currency. This can be done in three ways.

In one of the points, bit coins can be exchanged for another e-currency, and then transferred to a bank card. The option is not the most successful, because the user will have to pay a commission for both operations.

More profitable option – withdrawal of bit coins directly to a bank card. Not all exchanges work in this direction, but it’s worth a search. In this case, the operation of cash withdrawal will take place not only as quickly as possible, but also profitable.

The user will pay the commission to the resource only once. The time of the operation in the automatic mode is 10 minutes, in the semi-automatic mode within an hour. To use this service, you only need to specify the bank details.

Another option is to sell bit coin to an individual. This is the least popular way. In addition to the private person who wants to buy a crypto currency will need to find, you will need to make sure that it is fair. The potential risk of surgery is very high.

How to Buy Bitcoin in South Africa

You can get Bit coin, just like any currency, by earning it for something you sell (get paid for your goods & services), getting your company to pay you in Bit coin (unlikely, since HR might not be familiar with it), you can mine it (rather technical and expensive) or you can just go ahead and buy some!

There’s a little admin involved but it’s easier than you might think.

Also: you don’t need to buy a WHOLE bit coin. Start out with R 100 or R 200 and just play with it for a while to get used to it

Buying Bit coin in person

The same way that you wouldn’t buy cash from a stranger on the street, I don’t recommend buying Bit coin from someone you don’t know or from an unidentified individual/company.

Many people use Local Bit coins, a site that connects local buyers and sellers, where you pay via bank transfer or meet up in person and trade in cash. Again: buyer be wares, there are many risks associated with this and you might end up losing your money.

Buying Bit coin from an exchange

Buying Bit coin from a reliable exchange is the safest way to get started with Bit coin. Even though Bit coin isn’t currently regulated in South Africa, you’ll be dealing with an established company (and normal laws will apply with regard to things like dispute resolution).

There are two Bit coin exchanges in South Africa: Luno and ICE3X. To buy from an exchange you sign up with them, make an EFT from your bank to theirs and then use the rand (ZAR) to buy Bit coin (BTC).

Luno

Luno is a really impressive Bit coin company, and not just by local standards. They were started by South Africans, received over R50m in funding from big companies like Naspers and expanded into many other countries (Nigeria, Kenya, Singapore, Malaysia and Indonesia).

You can buy Bit coin from Luno via their website or their smartphone app. We highly recommend using them if you want to get set up with Bit coin in a fast and easy-to-understand manner.

They also have a very impressive exchange for more advanced traders.

ICE 3 X

The trading volume, exchange rate and features on Ice Cubed are pretty low, but it is an alternative place to get your first Bit coin.

To get started:

  1. Visit the exchange
  2. Sign up for an account & get verified
  3. Make an EFT to them
  4. Log in and buy Bit coin!

What is Bitcoin?

Bit coin is a new type of currency that is digitally created and stored, globally available and decentralized without the need for a trusted party like a bank or government. No single person, company or government controls it.

Bit coin is stored in a Bit coin wallet and can be sent between different wallets, anywhere in the world, in a matter of seconds (not days) and for a few cents (not hundreds of rand).

Bit coin is the greatest financial innovation of our era and it will change your life, if it hasn’t already done so. Don’t take my word for it. Here are some thoughts by great minds on Bit coin:

Bit coin features

In some ways, Bit coin is just another currency: it has an exchange rate against the South African rand (and US dollar or other international currencies), it can be bought, sold and traded and it can be used to pay for things.

There are however unique characteristics to Bit coin that you should know:

Bit coin is Global

Bit coin can easily be sent to a wallet across the room or across the world. Since it is sent peer-to-peer, there are no third parties or borders to restrict the transaction. Bit coin can be bought and sold for local currencies (also known as fiat currency) in almost every country in the world.

Bit coin is Cheap

The transaction fees levied by card processors for transactions and the settlement fees charged by banks for international transfers are significantly higher than fees for sending bit coin. Merchants in South Africa pay between 3-6% for online credit card transactions (with high rates of credit card fraud). These costs are passed down to the consumer.

It costs a fraction of that to pay with Bit coin (between 0-1%, depending if the merchant keeps their money in Bit coin or converts it back to South African rand) and the fraud risk is 0.

Bit coin is fast

It takes one to two days to receive a bank payment from a different bank, two to five days for a merchant to receive funds from a credit card transaction and up to a week or more for international bank transfers.

Bit coin transactions are instantly sent and usually confirmed in under 30 minutes, from and to anywhere in the world.

Bit coin is Secure

Unlike most other payments, to complete a Bit coin transaction you don’t need to provide any sensitive information (which can be stolen or abused).

When you want to receive a payment, you simply provide the sender with your Bit coin wallet address. This address is a receive-only address: you’re free to distribute it (people can only send money to it –pay you– not withdraw from it).

You don’t need to send any confidential information like your full name, physical address or credit card number when making Bit coin payments.