Welcome back to the channel everyone! This week's Crypto Review Show has some MONSTER crypto giveaways.. This week we give away Divi, Dragonchain & Nimiq, plus 2 x Nano S ledgers kindly donated by Nimiq. Don't forget to add you wallet address for next weeks show!
What is Bitcoin? Bitcoin is the first ever cryptocurrency created using blockchain technology. The concept of Bitcoin was originally proposed by Satoshi Nakamoto in 2009 as a decentralized peer-to-peer digital currency based on the SHA-256 protocol.
Bitcoin is a unique form of digital currency - it is fully open sourced without any central authority where anyone can take part. Bitcoin allows for fast and anonymous transactions with low transaction fees. Since the absolute supply of BTC has a fixed issuance of 21 million Bitcoins by the year 2140, it may theoretically increase in value over time. ... https://www.youtube.com/watch?v=rhCMtRV1sm8
Today we are taking a first Look At The Keystone Pro 3 - Is this one of the Best Crypto Hardware Wallets on the market? Remember to be in with a chance of winning one, comment and join out Telegram for a bonus entry!
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In the ever-evolving landscape of digital currencies, one crucial aspect remains constant: the need for secure storage solutions. Cryptocurrencies have gained widespread popularity, attracting both individual investors and institutional players. However, this growing interest has also led to a surge in cyber threats and malicious activities targeting digital assets. To address these concerns and ensure the safety of cryptocurrency holdings, a concept known as "cold storage" has emerged as a cornerstone of cryptocurrency security. In this comprehensive guide, we will explore the intricacies of cold storage cryptocurrency wallets, shedding light on what they are, why they matter, and how they enhance the security of digital assets.
At its core, a cold storage cryptocurrency wallet represents a secure and offline method for storing digital currencies. In contrast to "hot wallets," which are connected to the internet and thus exposed to various online vulnerabilities, cold storage wallets provide an airtight safeguard against unauthorized access, hacking attempts, and cyberattacks. To grasp the significance of cold storage, it is essential to dissect its key components, including its defining characteristics, types, benefits, and operational principles.
Key Features of Cold Storage Cryptocurrency Wallets
Offline Storage: The paramount feature of cold storage wallets is their isolation from the internet. They operate in a strictly offline environment, rendering them impervious to online threats that often plague hot wallets.
Private Key Protection: Cold storage wallets serve as impenetrable fortresses for private keys—the cryptographic keys required to access and manage cryptocurrencies. These wallets shield private keys from exposure to online devices and networks, ensuring they remain securely tucked away.
Security Layers: To fortify their defenses, cold storage wallets typically incorporate multiple layers of security. Users are commonly required to establish Personal Identification Numbers (PINs), passphrases, or even biometric authentication methods (e.g., fingerprint recognition) to gain access to their wallets and execute transactions.
Backup and Recovery Mechanism: Recognizing the potential for hardware damage, loss, or theft, cold storage wallets offer a robust backup and recovery mechanism. This mechanism typically revolves around a recovery seed phrase—a sequence of 12 to 24 randomly generated words. In the event of wallet loss or damage, this seed phrase acts as a lifeline, enabling users to restore access to their funds on a new device.
Multi-Currency Support: Many cold storage wallets are designed with versatility in mind, accommodating a wide array of cryptocurrencies. This multi-currency support empowers users to securely store and manage various digital assets within a single wallet.
User-Friendly Interface: While security remains paramount, manufacturers of cold storage wallets strive to maintain a user-friendly experience. This is particularly evident in hardware wallets, which often boast intuitive interfaces that simplify navigation and transactions for individuals with varying degrees of technical expertise.
Transaction Confirmation: Cold storage wallets typically necessitate manual confirmation of transactions directly on the device itself. This deliberate and hands-on approach adds an additional layer of security, ensuring that transactions are not executed without explicit user consent.
Open-Source Software: Some cold storage wallets leverage open-source software, meaning that their source code is made publicly available for community review and scrutiny. This transparency fosters trust and confidence in the wallet's security measures.
Compact and Portable: Hardware wallets, a prevalent category of cold storage wallets, are engineered to be both compact and portable. Despite their diminutive size, they offer uncompromising security.
Compatibility: Cold storage wallets exhibit compatibility with various operating systems and devices, affording users the flexibility to connect them to computers or mobile devices via USB or alternative interfaces.
Cryptographic Expertise: To fortify defenses, cold storage wallets harness advanced cryptographic algorithms, which play a pivotal role in safeguarding private keys and transactions from potential threats.
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What is eXchangily:
eXchangily is a new decentralized exchange model built on the prominent Fast Access Blockchain. It carries the best of a centralized exchange, namely the speed and ease of use, with all the security benefits of a decentralized exchange.
Users retain control over their funds, their private keys, and their transaction information is transparent and secure. Individuals can trade, and enterprises can transact on eXchangily with ERC20 tokens and other cryptocurrencies. It is a fully democratic and autonomous platform.
You can check us out on:
Website: https://exchangily.com/
What is The Divi Project:
Taken from the official website "Everything we do has one goal in mind: to make popular cryptocurrencies easier to use so that both people and businesses will adopt them in mass. Cryptos have the power to revolutionize the way we use money, and within several years will be part of the daily life of billions of ordinary people for day-to-day transactions. This can’t happen the way they are now: slow, expensive fees, impossible to understand, and easy to make a mistake and lose money. Divi’s user-friendly Smart Wallet™ and blockchain make transactions faster, less expensive, easier, safe to use, and with a special focus on eliminating user error. The Divi network is powered by MOCCI™, our revolutionary one-click masternode installer. It’s the first to allow anyone, without technical knowledge, to easily join our masternode network and earn crypto from a home computer or with their phone."
What i
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By providing a truly decentralized and scalable framework, combined with an accessible and intuitive user interface, Cypherium lays a comprehensive foundation for developers to create groundbreaking apps capable of transforming the future of business, law, and enterprise solutions.
Using a hybrid consensus mechanism that utilizes both Proof-of-Work and HotStuff, our blockchain is designed to achieve commercialization viability by maximizing both decentralization and scalability without sacrificing one for the other. Unlike many second- and third-generation blockchains that abandon Satoshi Nakamoto’s original permissionless, trustless consensus mechanism, Cypherium is built on the valuable innovations of previous blockchains.
Cypherium Enterprise seamlessly runs a full-fledged Turing Java Virtual Machine to encourage the widespread adoption and development of smart contracts in a way that maximizes the practical utility of the blockchain. As a smart contract platform, the Cypherium virtual machine runs on Java, the most commonly used coding language in the world.
Check them out here:
Website
www.cypherium.io
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Like most smart contract platforms, Cypherium uses a proprietary cryptocurrency called Cypherium Token. CPH is intended to be used as gas to execute smart contracts and transactions on the network. Cypher Tokens (CPH), now available for purchase in our public sale, are utility tokens used to run the Cypherium network. It is with these tokens that users can pay for the resources necessary to fulfill contracts and record transactions.
Cypherium is a layer 1 blockchain protocol designed to provide users with access to financial services, as well as improve operational efficiency for commercial and institutional partners. The Cypherium blockchain uses a hybrid consensus mechanism designed to achieve commercial profitability while maintaining decentralization and DLT characteristics.
Centrality is a distributed ecosystem that brings together various applications using blockchain technology. DCIF is a proprietary Cypherium architecture that allows you to receive or distribute any asset, including CBDC, stablecoins and digital assets, on the network or between registries. Cypherium is a decentralized smart contract platform for building and connecting dApps, central bank digital currencies (CBDCs), business applications, and digital assets. Cypherium is one of the first blockchain companies with real blockchain applications, use cases, and partnerships with industry leaders and government agencies.
Our cutting-edge decentralized identity innovation, combined with highly scalable hybrid consensus and smart contracts, is a critical foundation for CBDC and fint
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Been at a lose end today I thought I'd take a look at a couple of new cryptocurrency exchanges I've been watching.
Eterbase and Swidex are 2 new crypto exchanges I really like.
#Swidex #Eterbase #CryptoExchanges
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Today we are looking at incredible Crypto AI project called Raiinmaker. Back by Coiin, an amazing team and a spuber app, this is going to be one of the projects of 2024 and beyond. Check them out by visiting the links below.
Website - https://www.raiinmaker.com/?invitedby=U3Z0F7
Telegram - https://t.me/raiinmakertalk
Discord - https://discord.com/invite/nxWzdAKCBK
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#Metaverse #Crypto #CryptoAI #CryptoGems
Crypto AI, an intersection of two cutting-edge technologies, cryptography, and artificial intelligence (AI), represents a promising frontier in both the financial and technological landscapes. At its core, Crypto AI integrates AI algorithms into various aspects of cryptocurrencies and blockchain technology to enhance security, optimize trading strategies, improve consensus mechanisms, and advance various other functionalities within the crypto ecosystem.
One of the primary applications of Crypto AI lies in enhancing the security of cryptocurrencies and blockchain networks. Traditional cryptographic techniques are already fundamental to ensuring the security and integrity of blockchain transactions. However, with the advent of AI, new opportunities arise to bolster security measures further. AI algorithms can be utilized to detect anomalies, predict potential security threats, and proactively implement countermeasures, thereby fortifying the resilience of blockchain networks against cyberattacks and fraud.
Moreover, Crypto AI plays a pivotal role in optimizing trading strategies within the crypto market. The volatile nature of cryptocurrencies presents both opportunities and challenges for traders. AI-powered algorithms can analyze vast amounts of market data, identify patterns, and make data-driven predictions regarding price movements with greater accuracy and speed than human traders. This enables investors to make more informed decisions and capitalize on market fluctuations more effectively.
Furthermore, AI technologies are revolutionizing consensus mechanisms within blockchain networks. Consensus mechanisms, such as Proof of Work (PoW) and Proof of Stake (PoS), are essential components of blockchain protocols that ensure agreement among network participants regarding the validity of transactions. However, these mechanisms often have limitations in terms of scalability, energy efficiency, and security. By integrating AI into consensus algorithms, innovative approaches such as AI-driven consensus protocols or hybrid consensus models can be developed to address these challenges and improve the overall efficiency and security of blockchain networks.
Additionally, Crypto AI has the potential to enhance privacy and confidentiality in blockchain transactions. While blockchain technology offers transparency and immutability, privacy concerns remain, especially regarding sensitive financial transactions. AI-based encryption techniques and privacy-preserving algorithms can be leveraged to enhance the anonymity of transactions while still maintaining the integrity and auditability of the blockchain ledger.
Furthermore, Crypto AI facilitates the development of decentralized autonomous organizations (DAOs) and smart contracts with advanced capabilities. AI algorithms can automate decision-making processes within DAOs, enabling more efficient governance structures and reducing the reliance on human intervention. Similarly, smart contracts can be enhanced with AI capabilities, enabling them to autonomously execute complex transactions based on predefined conditions and real-time data feeds.
Despite the numerous potential benefits of Crypto AI, there are also challenges and considerations that need to be addressed. These include ethical concerns regarding the use of AI in financial markets, regulatory challenges related to the integration of AI into blockchain technology, and the potential risks associated with algorithmic trading and autonomous decision-making.
In conclusion, Crypto AI represents a groundbreaking fusion of cryptography and artificial intelligence that holds immense potential to transform various aspects of the crypto ecosystem, including security, trading, consensus mechanisms, privacy, and decentralized governance. As the technology continues to evolve, it is essential to strike a balance between innovation and responsible deployment to harness its full potential while mitigating potential risks.
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In this week's crypto market update, we're looking at 3 strategies to use in a bear market. I think its safe to say crypto winter is here again! Bear markets are a fact of life. That doesn't make it any easier to anticipate them, predict how long one will last, or estimate the depth of the decline. But you don't need to be a clairvoyant to take a few prudent steps to minimize your bear-market losses while improving long-term investment returns in the bargain.
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#Metaverse #NFTs #Bitcoin
What is Bitcoin?
Bitcoin is the first ever cryptocurrency created using blockchain technology. The concept of Bitcoin was originally proposed by Satoshi Nakamoto in 2009 as a decentralized peer-to-peer digital currency based on the SHA-256 protocol.
Bitcoin is a unique form of digital currency - it is fully open sourced without any central authority where anyone can take part. Bitcoin allows for fast and anonymous transactions with low transaction fees. Since the absolute supply of BTC has a fixed issuance of 21 million Bitcoins by the year 2140, it may theoretically increase in value over time.
What is an NFT?
NFT stands for non-fungible token.
In economics, a fungible asset is something with units that can be readily interchanged - like money.
With money, you can swap a £10 note for two £5 notes and it will have the same value.
However, if something is non-fungible, this is impossible - it means it has unique properties so it cannot be interchanged with something else.
It could be a house, or a painting such as the Mona Lisa, which is one of a kind. You can take a photo of the painting or buy a print but there will only ever be the one original painting.
NFTs are "one-of-a-kind" assets in the digital world that can be bought and sold like any other piece of property, but they have no tangible form of their own.
The digital tokens can be thought of as certificates of ownership for virtual or physical assets.
How do NFTs work?
Traditional works of art such as paintings are valuable because they are one of a kind.
But digital files can be easily and endlessly duplicated.
With NFTs, artwork can be "tokenized" to create a digital certificate of ownership that can be bought and sold.
As with crypto-currency, a record of who owns what is stored on a shared ledger known as the blockchain.
The records cannot be forged because the ledger is maintained by thousands of computers around the world.
NFTs can also contain smart contracts that may give the artist, for example, a cut of any future sale of the token.
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Cryptocurrency and Bitcoin: A 500-Word Explanation
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. Unlike traditional currencies issued by governments and central banks, cryptocurrencies operate on decentralized technology called blockchain. Bitcoin, created by an anonymous person or group of people using the pseudonym Satoshi Nakamoto in 2009, was the first cryptocurrency and remains the most well-known and widely used.
**How Cryptocurrency Works:**
Cryptocurrencies work on a technology called blockchain, which is a decentralized and distributed ledger that records all transactions across a network of computers. This ledger is immutable, meaning once data is recorded, it cannot be altered or deleted. Transactions are grouped into blocks, and these blocks are linked together in chronological order, forming a chain—hence the term "blockchain."
**Key Features of Cryptocurrency:**
1. **Decentralization:** Unlike traditional currencies controlled by central authorities, cryptocurrencies are decentralized. No single entity has control over the entire network. Instead, transactions are validated and added to the blockchain by a network of computers, or nodes, through a process called mining.
2. **Cryptography:** Cryptocurrencies rely on cryptographic techniques to secure transactions and control the creation of new units. Public and private keys are used to authenticate users and sign transactions, ensuring security and privacy.
3. **Limited Supply:** Many cryptocurrencies, including Bitcoin, have a fixed supply. For instance, there will only ever be 21 million Bitcoins in existence, making them resistant to inflation.
4. **Pseudonymity:** While transactions are recorded on the blockchain, users are represented by pseudonymous addresses, providing a level of privacy. However, it's essential to note that transactions are not entirely anonymous, as blockchain analysis can sometimes reveal the identities of users.
5. **Global Accessibility:** Cryptocurrencies are accessible to anyone with an internet connection, making them a borderless form of money. This accessibility has the potential to empower people in regions with limited access to traditional banking services.
**How Bitcoin Works:**
Bitcoin operates on the same principles as other cryptocurrencies but with some unique characteristics:
1. **Mining:** Mining is the process by which new Bitcoins are created and transactions are validated. Miners use powerful computers to solve complex mathematical puzzles, and the first one to solve it gets to add a new block of transactions to the blockchain and is rewarded with newly created Bitcoins.
2. **Halving:** Approximately every four years, the reward given to miners for adding a new block is halved, a process known as the "halving." This feature is designed to gradually reduce the rate at which new Bitcoins are created, ensuring scarcity.
3. **Peer-to-Peer Transactions:** Bitcoin transactions occur directly between users without the need for intermediaries like banks. These transactions are recorded on the blockchain and are irreversible once confirmed.
4. **Security:** Bitcoin's security relies on its decentralized nature, cryptographic techniques, and the enormous computational power required to compromise the network. It has a track record of being highly secure since its inception.
In conclusion, cryptocurrency, with Bitcoin as its pioneer, is a digital form of money that operates on decentralized blockchain technology. It offers security, decentralization, limited supply, and global accessibility, revolutionizing the way we think about money and financial transactions. However, it also comes with risks and challenges, including price volatility and regulatory concerns, that continue to evolve as the cryptocurrency ecosystem matures.
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BlockStorage is a protocol to connect and abstract all communications with a blockchain to store your files there. Blockstorage basically provides a simple way to save your files on blockchains of your preference. Using their protocol you can save your files on any blockchain!
The current state of cloud storage, with dozens of reports of security issues, the overall perception of lack of privacy, along with the usual high monthly fees calls for a new kind of storage service, one that guarantees data privacy at lower (or no) costs.
You can check them out here: https://blockstorage.io/
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