Category Archive : Coins

Libra - Cryptocurrency By Facebook - low size

Libra Coin – A New Digital Currency Developed by FACEBOOK

Facebook has announced its cryptocurrency, Libra in past years which enables each and every individual to buy things and also to send money irrespective where the person is with ultimately zero transactional fees.

Libra is built on a very strong foundation in order to make transactions simple, easy, secure and safe. Libra coins can be stored in any third party crypto wallets or on facebook’s own Cablibra Wallet. This wallet will be associated with Whatsapp and Messenger very soon.

In the recent updates of Libra, Facebook released Libra’s white papers explaining details about its testnuts and transactional working procedure through the blockchain system in detail which will come into existence in the first half of 2021.

Anyways Facebook alone will not be controlling Libra as a signal entity but will be governed by Libra association members along with the Visa, Uber and Andreessen Horowitz who have invested more than 10 millions each in this project, according to a news report. The association members have promoted blockchain technology, which has become trendy in recent times because of its entry in bitcoin casinos.

Libra Blockchain is an open-source decentralized network which is programmed by a robust language “Move”. It is encoded in an understandable way even by the non-programmers and also mobile friendly. Businesses involved in libra payments will get extra benefits and discounts in coming years. This business strategy will reach billions of people in a very short run. Hopefully, Libra will get its place very soon and grab many users.

Our team from Winbtc.net has come up with an interesting and unique infographic on Libra Coin — a new virtual coin developed by Facebook to reach billions of people across the world. Hope you’ll like it, please share it with your family and friends.

Cryptocurrency Creation Service

Things To Know Before Investing In Cryptocurrency Development

It might have been more than a decade ever since Satoshi Nakamoto introduced bitcoin. More than just the bitcoin Nakamoto also introduced or rather reintroduced a revolutionary technology called the blockchain.

More than a decade has passed since the introduction but the entire world of cryptocurrency has still and the entire world of cryptocurrency, true to its name, has evaded mainstream attention over into its apparent image of difficulty it has created. However, it might be surprising for a lot of people to know that creating your own cryptocurrency is probably one of the easiest technical tasks you can execute in the world of blockchain, and it does not require extremely extensive technical knowledge.

The different types of cryptocurrencies

Before We deep dive into the science of creating a new cryptocurrency, let us look one of the ways that the entire trip to the world is classified into two broad types – the one that operates on an existing blockchain and the other one that requires a completely new blockchain to be created from scratch.

If you were to take the bitcoin, it requires a completely different blockchain to function. However, cryptocurrencies can also be created to function on the top of an existing blockchain. For this purpose, one of the most preferred blockchains is Ethereum.

The entire code of the Ethereum blockchain is available on GutHub. It is open-source, and it only means that you can download it and customize it according to your requirements. It makes Ethereum one of the most preferred blockchains for most applications involving blockchains, including but not limited to smart contracts, decentralized applications, and even creation of tokens and currencies. 

Understanding the difference between a currency and a token

In the crypto world, in most cases, both cryptocurrency and token have been used interchangeably. However, they are completely different from each other. The key difference between a currency and a token is that a cryptocurrency can be used as a medium of transaction. In simpler terms, you can use any cryptocurrency to pay for what you buy – like any other currency that you used today. A token, on the other hand, has only a limited validity defined within a specific ecosystem. It could possibly be used to buy something within the ecosystem but it might not have any relevance outside.

To make you understand better, a cryptocurrency is like your US dollar, and a token is like what you would have on your Starbucks card after you have loaded it. Can you buy your Starbucks coffee with dollars? Yes! Can you buy anything else with those dollars? Yes! Can you buy Starbucks coffee with the cash that you have at Starbucks card? Yes! Can you use your Starbucks card cash to buy anything else? No! We hope this sums up the difference for you between a cryptocurrency and a token.

Creating your own crypto token with ERC-20 standards

The term ‘ERC-20’ might not have had an introduction yet. ERC-20 is a standard in the Ethereum ecosystem. It presents one of the easiest methods to create your own cryptocurrency. One of the reasons it is extremely easy, in addition to the entire Ethereum ecosystem being extremely user-friendly, is that you do not have to go through the cumbersome process of creating your own blockchain.

A key aspect that governs cryptocurrencies and an integral feature of every blockchain is the concept of smart contracts. Smart contracts are conditional self-executing programs that are designed to keep up the integrity and security of every aspect of the blockchain. It is the complexity of these smart contracts that determine the difficulty that goes into creating your own blockchain or your own cryptocurrency for that matter.

Therefore, if you’re talking about a simple method to create your own cryptocurrency, in essence, we are talking about a simple smart contract that does not involve too many complex variables.

For simplicity’s sake, let us take the most basic case of any currency-updating balances, calculating deposits and withdrawals. In essence, there are only four methods to be implemented – checking of balances, creation of tokens, destruction of tokens, and transfer of tokens. 

A cryptocurrency in Ethereum is as simple as a data structure that denotes the balances on each account and a series of functions to manage the balances.

Breaking it down…

What has been illustrated above is an example with the Ethereum blockchain and compliant with the ERC-20 standards. There are different blockchains and different standards that you can use to create your own cryptocurrency.

One of the most common ways of creating a new blockchain is a technique called forking. Using forks of some of the most common blockchains like bitcoin to create new cryptocurrencies have resulted in manifestations like the bitcoin cash.

Just because a technology backing something is extremely complex, it doesn’t mean that all the manifestations of the technology are essentially in the same level of complexity! Take your car for example. You might not know the intricacies that go behind creating such a stunning piece of engineering. However, even without knowing the head and tail of it, you could be an expert driver!

Such is the case with blockchain technology and cryptocurrency. Given the fact that cryptocurrency is looked at as one of the biggest game changes for businesses in the near future, it is important for business people to understand the basics of cryptocurrencies and tokens.

Conclusion

Any organization or any business leader who fails to keep up with the changing times and technology is bound to go down the long and dangerous spiral of becoming irrelevant and obsolete in this competitive landscape of business. Therefore, it becomes rather imperative on the part of businesses and business leaders to ensure that they are up-to-date with latest technologies like the blockchain and its manifestations like the creation of new cryptocurrency.

We understand that while the basics might be easy to learn, creation of a completely new cryptocurrency might be a cumbersome hassle. However, you can always get in touch with cryptocurrency development companies and they will help you create comprehensively new cryptocurrency with all the features that you will need. It will feature a full-fledged smart contract that will ensure that there are no lapses in its functionality or security. There are quite a lot of cryptocurrency development companies in India, the United States, and Malta which can surely provide the essential cryptocurrency development service that your business would require!

BINANCE EXCHANGE

Top Five Cryptocurrency Exchange Technological Innovations

Cryptocurrency, which is sometimes referred to as digital currencies operate independently of any central authority or banks and it is permissionless to use, the transaction is open & available for people to see.

Because it is decentralized, government authorities such as the Judiciary, Authorities in-charge of taxation, and the central banks do not find it appealing because it cannot be taxed and they don’t have power to influence the transactions of traders/participants.

N.B: Cryptocurrencies Transaction cannot be cancelled, cannot be reversed and neither can it be disputed, This is the reason why newbies are advised to have someone who is experienced and careful to guide them whenever they want to carry out a transaction.

Cryptocurrencies can be obtained by buying/purchasing from a digital/crypto-currency exchange platform, The exchanger allows the trader to exchange their Fiat( paper currency) to Alt coins of their choice. The top five (5) cryptocurrency Exchange can be find below:

  • Binance
  • Bitmex
  • Kucoin
  • Changelly
  • Hobi Pro

Cryptocurrency Trading platform have their own shortcomings such as: scalability, Cybersecurity issues, price volatility and lack of inherent value, Regulations, and abuse of trust which traders place on the crypto exchange all for the sake of profits, user-friendly interface, these shortcomings cause traders to panic.

As more technological innovations are uncovered, binance works as a decentralized structure for its users. This makes it reliable for unlimited coverage worldwide. This implies that users can access the platform near the network and the business as a whole. Furthermore, the platform uses a decentralized node to create a broader public spectrum, thereby expanding the business and the platform.

WHAT IS BINANCE EXCHANGE?

Exchange is a trading platform with numerous functions that allow users to make smart trading decisions, reduce their costs and maximize their profits from each transaction made. The success of each project mostly depends on the team. The project team consists of numerous experts and various Blockchain professionals who have experience in the cryptocurrency world for many years. They will be able to bring the trading platform to a new level and offer a highly reliable and high-speed trading platform for traders.

In addition, binances functions as a centralized structure for its users. This makes it reliable for unlimited coverage worldwide. This implies that users can access the platform with proximity to the network and trade as a whole. In addition, the platform uses a decentralized node to create a wider audience spectrum, thereby expanding the business and platform.

THE BENEFITS

High security – Your personal data will always be encrypted, which guarantees very high reliability and security. Developers create a trading platform where buying digital currencies will be simple and straightforward, even for beginners. Binances Exchange accepts any credit or debit card from VISA or MasterCard.

  • Only the best and most top cryptocurrencies – Buy your digital assets in a wide range of the most popular cryptocurrencies in the world.
  • Reliable platform – You can use all services wherever you are, and you can always be confident in the reliability of the trading platform.
  • Customer service you can trust.
  • Support agents are always ready to answer any of your questions that you can ask at any time convenient for you.
  • UNIQUE FEATURES OF binance EXCHANGE
  • Highly Secured Your data is encrypted, guaranteeing your safety.
  • Binance makes buying crypto simple Rokes Commons Exchange accepts any credit or debit card from VISA or MasterCard.
  • Top Crypto Currencies
  • Buy your coins from a wide selection of the world’s most popular cryptocurrencies.
  • Upload your documents today. Binances reviews them within the hour.
  • Reliable Platform
  • You can use the services wherever you go.
  • Binance Exchange has you covered.
Bitcoin cryptocurrency

Bitcoin Farmers in Bulgaria Stole 1.5M$ in electricity

Two Bulgarian nationals have been accused of the robbery of about $1.5M in power used to illicitly work crypto mining ranches.

Bulgarian specialists have captured two men for wrongfully redirecting more than $1.5 million in power to work two crypto mining ranches.

As indicated by an Aug. 14 report from Bulgaria Today, two men have been kept regarding the robbery of $1.5 million in power utilized for mining Bitcoin (BTC) in the humble community of Kyustendil.

Delegates from the Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria talked at a news meeting, expressing that the two Bulgarian nationals from Sofia, matured 31 and 38, were found channeling capacity to their two illicit crypto digging ranches for 3-6 months. Nonetheless, proof proposes that the mining hardware had been there for over a year.

CEZ Deputy Director Philip Yordanov said this was “the biggest robbery” of power the utilities firm had ever found. The sum taken was sufficient to control the neighboring municipality for about a month.

The two men were confined by police for 24 hours before being delivered to anticipate preliminary.

Not remarkable to Europe

Deceitful crypto excavators in numerous nations have endeavored to siphon power off the system as more become mindful of the gainfulness of tokens.

Perhaps the biggest burglary happened in China in July 2019, when 22 suspects were captured after supposedly being engaged with an unlawful crypto mining ranch utilizing $3 million in taken power. Police appropriated 4,000 mining rigs at nine unique manufacturing plants.

Russian specialists have likewise endeavored to take action against Bitcoin diggers taking force. In June, police captured a 30-year-old excavator blamed for taking about $500,000 in power from the state power arrange. Another suspect and his nine affirmed accessories were captured in March in a comparative episode including the robbery of $200,000 in power each month to mine crypto.

What is a Crypto Token? A detail Overview

A crypto token is arguably the most fundamental element of digital currency. in this article, we’ll explain exactly why.

What is it?

The most basic definition of a crypto token is that it represents a specific fungible and tradable asset or utility.

For those who are unaware of what “fungible” means, it is the standard ability of a good/asset to be interchangeable with an array of other individual goods/assets of the same type. Can the token be bought, sold and traded for other assets like the Euro or another token?

Fungible means the assets that are exchangeable for one another. Moreover, digital tokens may better simplify the exchange and trade processes because fungibility generally implies equal value between the assets.

A quick overview of blockchain

The asset or utility that a crypto token represents can often be found on a blockchain. You may already know what a blockchain is, but for the sake of providing context, let’s briefly go over what exactly it is.

Blockchain is the cryptographic ledger technology that connects with virtual currency. It is essentially a list of records (the ‘blocks’) that are linked together on a public database (the ‘chain’). The blocks existing on this digital chain are full of various pieces of information.

More on tokens:

Crypto tokens are a special brand of virtual currency tokens. They reside on their own blockchains and, as previously mentioned, represent an asset or utility. For example, someone can have a crypto token that represents a specific number of customer loyalty points within a blockchain. In a way, these are tools that manage such details pertaining to a retail chain.

There can usually be another crypto token that provides entitlement to the token holder. This entitlement is to view roughly 10 hours of streaming content on a blockchain that shares videos.

The shekel was the name for both a specific weight of barley and the coin which could be used to collect that weight of barley from the city’s warehouse. Shekels eventually became a form of coinage used in several different nations, which could be used simply as a currency to purchase all sorts of things, and was no longer exclusively a “redeem for one bag of barley” token.  Click here to know more about Barley Token. Its a referral program in the Crypto industry with a background of the Coffee and beer industry.

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