Category: Blockchain

How Blockchain Can Impact the Financial Services Industry

January 26, 2023 /
how blockchain can impact the financial industry
Educational: How can blockchain impact the financial services industry?

Introduction

You might have heard about Bitcoins and Ethereum.

They have transformed people from rags to riches.

Cryptocurrencies are the future of transactions in business.

You will be amazed to know that Cryptocurrencies use the power of Blockchain technology.

They have their own benefits and advantages.

If you want to start trading on Cryptos, do it with eKrona, the European Union Digital Cryptocurrency.

Visit the-ekrona.com to know more about it.

Thus, Blockchain technology has a great future, and different sectors are trying to optimize it.

Experts opine that they have a huge role to play in the financial industry.

It has a great future in this sector.

The following article discusses the impact of the Blockchain in the financial service industry.

What Is Blockchain?

what is blockchain?
Educational: What is blockchain?

The Blockchain is one of the latest data storage technologies that has completely transformed how data is used.

When you record some transaction or information into the Blockchain, it gets into the distributed ledger.

A distributed ledger records the information in a wide network of computers.

Blockchain, unlike any centralized data maintenance system, is decentralized.

Thus, the hackers won’t be able to track down the point and get into the network.

When you record information into the Blockchain, they are safe and secure, and the hackers can not dent into your network and create havoc with the data.

Thus your data remains safe and secure.

Many sectors are using technology, and the financial industry is definitely one of the major ones on the list.

Impact Of The Blockchain On The Financial Industry

There is high scope with Blockchain Technology in the Financial Industry and let us find it out here in this section to know more.

1. Efficient Payments                                                              

The traditional payment modes have been using the services of third-party systems.

They work as a mediator between the two stakeholders.

The problem with the financial industry is slow payments.

The processing takes quite a length of time.

Moreover, with the traditional financial system, you must be prepared for processing costs.

But this is different with the Blockchain.

With the Blockchain, things can move quickly, efficiently, and at a fraction of the cost involved.

2. Improved Compliance Process

KYC is one of the most important functions of the Banking system.

Now it involves paperwork and other complications.

Further complexities make the KYC procedure a little complex.

But with a Blockchain, the financial organization can streamline the entire KYC detail with ease.

With automation, they get all the assistance on the compliance’s other factors.

Therefore, the seamless exchange of documents between the bank and the other entity can be facilitated.

3. Fair and Fraud Free Data Transfer

You might know that data has become extremely vulnerable.

The hackers are always ready to pounce on your network and take authority over your data.

They can have complete authority over your data. They can even ask for ransom.

Therefore, data management has become one of the most important things for financial institutions, and this remains a big challenge for the organizations involved here.

Different financial organizations reciprocate information between them. If they use the Blockchain, they can easily safeguard data from getting into the hands of frauds.

Hence, fair and free data transfer is an important factor as it safeguards information.

Blockchain plays an integral part in helping to reciprocate data and ensure data safety.

4. Lowering the Costs

You might have heard that the financial regulatory bodies take note of lowering the costs.

In general, financial transactions are managed by a third-party organization.

They do their process at work, and in return, they take charge.

For instance, if you transact a thousand dollars, you might need to bear 5% to 6% of the whole transaction, sometimes as processing fees.

Now, this is quite a big amount.

But with the advent of the Blockchain, financial transactions can occur with a fraction of the charges.

Hence, financial institutions can make use of Blockchain to reduce costs.

Closing Down The Discussion

Financial organizations are looking to streamline things to ensure transparency.

They are also trying their level best to improve upon their services.

Thus, Blockchain can be a potential solution to combat the challenge they are having at this point.

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How Much Bitcoin Should You Buy: Factors to Consider in 2023

January 26, 2023 /
how much bitcoin should you buy
Educational: How much Bitcoin should you buy?

Introduction

Bitcoin has been the bread and butter of the Cryptocurrency world for quite some time.

Even if people cannot get into other Cryptocurrencies like Ether or Dogecoin, Bitcoin will still remain the king.

Many call it an achievement once they start trading through Bitcoin.

Therefore, it is understandable that there are novice investors who are still asking this question, “How much Bitcoin should I Buy.”

Afterall among all the Cryptocurrencies out there, Bitcoin is the most volatile one.

Probably because of its hot & cold reputation.

At one point, it is high in demand, and the next day everyone is against Bitcoin, and the prices seem to fall drastically.

We are here to rescue you from evergreen curiosity.

Once you read this article, you should understand the amount you should be investing and the other factors to keep in mind when investing.

How Much Should You Invest?

how much bitcoin should I buy

Let’s pull over some percentage here, shall we?

When it comes to your first-time investment, then you should always have a total investment amount set with you.

Without this, you can start treating this as a gamble when you get a taste of big profits.

Once you have this investment amount set aside, it is time to place only 10% of that amount in your first investment.

Some might even prefer a total of $100 investment in your first year and begin with a mere $10.

Do not invest it all at once and have a scheduled time for investing.

For example, the first investment, and then after every three months.

This will essentially prevent you from giving in to tempting offers with nothing to base them upon.

Related: How to Invest in Bitcoin Cryptocurrency for Beginners

Other Factors to Keep in Mind

Here are the other factors which you should keep in mind while investing in Bitcoin for the first time.

1. Do Not Give Into FOMO

FOMO is the Fear Of Missing Out.

This is when a novice investor gets too excited about any new investment.

Especially if they see their fellow pals earning major profits; however, you should remember that not every piece of knowledge is the same.

When you find someone earning thousands from one move, there is a lot you need to factor in.

How many years have they been investing, was any calculation involved in this move, or was it plain luck?

No matter what you do, do not blindly believe in someone.

Sometimes when you get a higher profit from one investment, it is easier to get blinded by temptation.

This is why a set amount of investment rules is perfect to start with.

2. Strategize Loss Tolerance

If you are not strategizing your loss, you can never learn from them.

The very first rule of Cryptocurrency is always invest the amount you can lose.

This is known as “loss tolerance,” i.e., how much loss you can tolerate.

If the loss is too much, neither will you be able to learn from it nor have the confidence to invest again for a very long time.

So, before investing, understand the amount you will be okay with losing, and then start investing through profit-maximizerapp.com.

This is a smart move upon anticipating that you will be losing your very first investment, and you are doing so to educate yourself.

What About Minimum Investment?

Upon reading the last point, many might think of investing very little in their first investment in Bitcoin.

Some might even think about investing as little as $2.

But we, along with experts, would suggest otherwise.

No matter the platform you choose for investing, there are fees attached to trading and Crypto investment.

Upon trading with a meager amount, you will end up paying more fees than your investment.

Another crucial suggestion would be not to put all your eggs in one basket.

Cryptocurrency losses are inevitable, so divide your capital and invest in different digital coins.

In this way, you will have another to fall into in the event of a big loss for one.

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More People Are Adding SHIB to Their Watchlist Than Dogecoin

December 21, 2022 /
SHIB News Today.
SHIB News Today.

1.8 million people have now added SHIB to their watchlist on CoinMarketCap beating Dogecoing (DOGE) by more than 200,000.

SHIB is currently trending on Twitter as SHIB news was released that developers had launched an updated version of their ecosystem website today.

The Shiba Inu community has now grown to an astonishing 3.6 million on Twitter.

The community had achieved its first million milestone in October of 2021 when SHIB reached its second all-time high.

Some of the biggest SHIB news leading to the new year included the cryptocurrency getting listed on Kraken and eventually trading on Robinhood.

Today, the SHIB community is waiting for the next major gainer during the next bull run.

Here’s what’s happening with SHIB.

SHIB Army Expansion

Shib Army

The SHIB army continues to expand, sharing its uniqueness with other likeminded communities.

PlaySide Studios has partnered with Shiba Inu Games in such an early phase of the cryptocurrency and gaming development.

PlaySide said it continues to collaborate with strategic partners to develop games using the latest trends that are shaping the future of the gaming industry.

“With booming global trends such as the metaverse and the growing popularity of new technologies including cryptocurrencies, nonfungible tokens (NFTs), and blockchain gaming; new opportunities in games continue to emerge.”

Gaming seems to be a big niche where blockchain technology is headed to grow the industry.

Companies such as GameStop have now begun to dive into this process through their NFT Marketplace.

SHIB Price Changes in the Last 24hrs

SHIB Price Chart today.
SHIB price chart today.

Shiba Inu coin is currently up 3.20%.

Its market cap is up 3.25%, with trading volume at 109 million.

The ‘meme token’ currently ranks at #15 on CoinMarketCap and #12 on Coinbase.

Are you holding SHIB?

If so, how many millions?

What are you most excited for the community in 2023?

Leave a comment down below.

You can follow me on Twitter for daily market news and updates.

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LUNA (Terra Classic) Could Be Headed for Higher Gains

September 7, 2022 /
Will LUNA keep going up
Crypto News: Will LUNA keep going up?

$LUNC, Luna is making a ruckus in the crypto community as it rises from the grave.

The crypto community either brushed the cryptocurrency as another failure and walked away or took advantage of the price and bought Terra Classic at incredible lows.

Investors want to know two things.

What’s causing LUNA to go up, and will it continue to set higher levels of support?

Let’s break it down together.

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Luna Classic Community shows ambition

The Luna Classic Community on Twitter has crypto enthusiasts on both sides of the fence.

Crypto investors are either up on gains in LUNA and continue to hold the cryptocurrency or are merely on the sidelines waiting for the asset to smash through the ground.

But bigger influencers such as David Gokhshtein are skeptical stating $LUNC is a lottery ticket.

Gokhshtein was a huge supporter of the project during the surge to $80 and $100 but has since deleted all tweets prior to the crash of UST (Terra Network).

LUNA supporters are hoping to pump the crypto to $1.

And while no one can rightfully predict how high LUNA ($LUNC) can go, the cryptocurrency seems to be setting higher support levels.

Why is LUNA (Terra Classic) going up?

Why is LUNA going up?
Why is LUNA going up? Franknez.com.

Terra Classic ($LUNC) seems to be having a great deal of volume coming in.

The cryptocurrency saw more than $1 billion in daily volume in the beginning of September where it then turned into $2 billion per day.

It seems whales are moving big money into this very speculative trade and slowly pumping it in order to profit later.

Whales (big money) are the ones who have the power to move the markets so it would only make sense as to why large sums of cash are being pushed through LUNA and not a bigger asset such as Bitcoin.

These investors who have been liquidating from BTC and Ethereum might be looking at other cryptocurrencies to capitalize from.

But those are just my thoughts, I’m curious to know what you think.

Buy LUNA with KRAKEN! 👈

Is Terra Classic done running up?

What we do know is that Terra Classic ($LUNC) continues to set higher levels of support, which gives reason as to why LUNA could potentially be headed for higher gains.

Especially if whales are indeed pumping the security for quick profits.

I noticed big volume was going into this cryptocurrency and had called out momentum rising around .00031, LUNA has reached a high of 0.00048 since.

If you’d like more updates on $LUNC and other crypto, join my newsletter for weekly updates or connect with me on social media.

Related: How to buy Cryptocurrency for Beginners

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Toxic NFT Gaming Projects: Avoid These Signs at All Costs

July 7, 2022 /
Toxic NFT gaming projects
Here’s how to spot toxic NFT gaming projects

Published by FrankNez Team.

Games that use blockchain technology have been successfully evolving and enticing potential players in recent years, and the decentralized games industry — commonly referred to as GameFi — has risen to prominence since 2013.

However, in 2021, the importance of decentralized games increased alongside the development of NFTs.

Many firms have swiftly evolved as NFTs change the world with their inventive innovation.

The gaming industry has seen the most significant advancement. NFT gaming is finally catching on with a huge population of gamers and crypto financial investors.

Regardless, the GameFi company has its problems.

While the value pattern of Bitcoin can help GameFi projects progress, there isn’t an instant association.

Notwithstanding the downturn market, the worth of several GameFi tokens is rising due to their NFT aspect.

Investors want to profit from the sales of in-game characters and assets rather than designed to improve gamification elements.

When considering a project, assess the promoting and mechanical aspects: how well the task is developed and how the project’s currency is presented to its consumers.

However, one should be vigilant of these token initiatives that make empty assurances as scammers thrive in the industry.

The Nature of NFT Gaming

NFT gaming involves combining conventional gaming features such as scoring points, contests, and regulations of gameplay with blockchain technology.

This fusion has resulted in the creation of GameFi, a platform where users can exchange and barter game materials for cash incentives.

NFT gaming functions in a rather straightforward method.

The resources used in the virtual space are called NFTs, and they have significance among gamers since they have the ability to be auctioned.

In Axie Infinity, for example, each species is represented as an NFT.

As a trade-off for crypto benefits, gamers might fight with their NFTs.

However, NFT gaming, just like any other investment, comes with risk from scammers.

Toxic NFT Gamification

Many NFT deceptive games have a broad range and are meticulously planned.

Most financial investors in such projects are amateurs, and con artists use ads and picturesque settings to mislead and entice novice consumers.

As a result, consumers should remain sensitive to a few specifics. To counter check, gamers should also do their research on the project’s background.

They may take advantage of crypto platforms that specialise in specific coins and tokens.

Upon registration, gaming investors will then be linked to credible brokers for assistance.

With this broker connection, consumers are assured to have a safe and secured crypto journey since markets are also monitored by these experts.

They also suggest websites where consumers can trade legitimately without losing funds to fake and scam gaming projects.

Below are the things you should put in mind to easily spot a scam.

The Profitability of the Project

Each project is designed to generate revenue.

Therefore, it’s essential to know where the incremental income will come from.

A person should not engage unless they grasp the concept of a project’s benefit.

There are a lot of games that seem to be too good to be true.

They may entice the consumers with promises of one-time payment with unlimited access to the game’s top features.

Assessments from Reliable Sources

When working in a business, advertisements should never be relied upon.

It is preferable to research reviews about them on expert portals.

The blockchain local forum works fast for the development of new projects.

Any idea will be evaluated from all angles within a few hours.

Nonetheless, con artists have discovered a technique to con consumers.

A few organizations promote projects by creating positive assessments about the organization on third-party websites.

Scammers pre-register a large number of entries on discourse with the intent to deceive and misdirect.

The Developers

The project’s designers usually have a lot of expertise.

Their pasts can be found online, along with a record of how fruitful their previous experiences were.

Nonetheless, some risky activities are sent out by unknown groups in GameFi.

Because they hide behind aliases or fake handles, minimal data about them may be uncovered.

Smart contract

Crypto and NFT scams

The simplest method is using block scanners to check the project’s smart contracts.

The block scanners will get you through information on when the project was established, released to the public, the number of consumers it has, and the number of tokens distributed.

Organisation Advertisement

A multi-level marketing (MLM) framework is used in a number of GameFi projects.

This is identical to an excellent organization marketing, which isn’t a fraud itself.

Countless outstanding projects have used MLM to drive sales, but if the project has no other revenue stream than advertising, it is a dirty trick.

Aside from MLM, there should be investment services.

Legitimate projects cannot make exaggerated claims to their consumers.

Conclusion

Despite the fact that the NFT gaming industry is obviously inflated, NFTs as an investment still can’t seem to prosper.

Instead of treating NFTs as simple things you get after unending periods of grinding, they should be explored more thoroughly.

Cynics’ negative perception regarding NFT games was developed against the context of unstable trading resources with little practical application.

Genuine value can and should exist in NFTs.

Major core competencies for genuine resources and administrations are essential for the NFT industry to flourish.

Blockchain gaming will be huge, but we’re still years from global acceptance.

Individuals spend roughly $20 billion every year on game items such as accessories, weaponry, and items, making classic gaming a $60 billion market.

When the first blockchain AAA game integrates a good gameplay experience with crypto assets, we’ll see regular players and idealists shift their focus to blockchain games.

In this approach, blockchain games have a bright future.

There will very certainly be a few cheats, although seeing them in NFTs is more likely.

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Related: What Are NFTs and How Will They Change the World?
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Blockchain Development: 7 Powerful Attributes That Separate an Excellent Blockchain Developer from A Quack

July 7, 2022 /
Blockchain development
These blockchain development attributes make an excellent blockchain developer

Published by FrankNez Team.

Are you looking for a blockchain development firm?

If so, it can be challenging to pick the right cryptocurrency development company.

With many companies in the market, you can be in a dilemma about choosing the right one.

Furthermore, only a few blockchain development agencies have the skills and resources to deliver high-quality crypto solutions.

So, the greatest challenge is how to cut through the noise and pick the right crypto developer.

And you can only overcome the stress of choosing the correct crypto coin development firm if you equip yourself with information.

The saying ‘knowledge is power’ succinctly summarizes why information is essential.

And this is especially when looking for the best cryptocurrency development company.

Here we offer tips on the attributes you need to consider when choosing a blockchain development agency.

Why is blockchain development critical?

Blockchain Development
Blockchain Development

There are multiple perks a business enjoys from embracing blockchain technology.

Here are the key benefits of this technology:

  • Improved security: your transaction information is sensitive and needs enhanced protection. Therefore, having an immutable record can boost the security of your data. Blockchain development is helpful since records on the decentralized ledger cannot be altered. A cryptocurrency software development company can help you create a highly secure blockchain solution.
  • Transparency: records on blockchain technology are more transparent, and the concerned parties can access all their transactions. Furthermore, settlements happen in multiple locations at the same time. Thus, altering the transactions without interfering with the whole system is impossible.
  • Easy to trail the history of an asset: The distributed ledger records an asset’s ownership history at each phase of its journey. Blockchain provides proof in fields where customers are concerned about the safety and human rights matters surrounding a product.
  • Increased speed: standard methods which handle transactions are slow and vulnerable to human error. Also, such transactions require intermediaries. However, transactions through blockchain technology are prompt and remove third parties from a settlement. Furthermore, there is no need for paperwork as all the recordings happen on the distributed ledger.

Qualities of the best blockchain development agency

blockchain development company
Blockchain development company

Now that you understand the importance of blockchain development let’s focus on how to find a crypto token development professional.

Here are the skills to consider:

1. Blockchain architecture

A Cryptocurrency development company should demonstrate an in-depth knowledge of the distributed ledger.

Thus, the developer should know how the decentralized ledger functions and its architectural design.

Ideas like consensus mechanisms, decentralized ledger, and cryptography should be at the developer’s fingertips.

2. Digital agreement creation

Smart contracts are central in crypto coin development.

These days, each blockchain races to combine digital agreement functionality on its network.

The agreement makes it easy to apply business logic on the blockchain spine.

So, before choosing a crypto developer, ensure that they understand how to develop smart contracts.

3. Deep understanding of data structures

Data structures are key to blockchain development.

Therefore, developers must understand the various data structures in developing distributed data.

Remember, the entire blockchain structure, including blocks, comprises data structures.

For example, each block is made up of IMB.

So, before hiring a cryptocurrency wallet development company, ensure that it understands the types of data structures and how to use them.

Understanding data structure enables a developer to grasp various complex blockchains and use them to deliver different solutions.

4. Web development knowledge

A cryptocurrency software development company must understand how to create web applications.

They must possess skills in app design, creation, and deployment.

The best developers should create dApps that are easy to use for all individuals, regardless of their blockchain knowledge.

5. Understanding the cryptography

Cryptography is a way of creating approaches and protocols that prevent third parties from accessing confidential information.

You must have a token storage app when you want to make settlements in the distributed ledger.

A cryptocurrency wallet development company can help you develop storage software.

Also, it would help if you had a key to the wallet you created.

The key is proof that the wallet is yours.

Furthermore, secure settlements on blockchain happen via encryption and decryption technologies.

And this occurs thanks to both public and private keys.

From the preceding, it’s apparent that cryptography is critical for the security of the decentralized ledger.

So, your chosen company must possess more profound knowledge in this field.

6. Interoperability skill

Interoperability is the ability to see and gather data across multiple blockchain networks.

The concept of interoperability revolves around whether the receiver of information from another network can understand it and provide relevant feedback.

A fundamental technique to attain interoperability is making information sharing easy.

And this is achievable through the use of application programming interfaces (APIs).

These technologies are created to allow data to be exchanged with each other.

So, ensure that the Blockchain development firm you choose understands the ins and outs of the idea of interoperability.

7. Know standards and ecosystems

The best cryptocurrency development company understands blockchain technology’s principles and best practices.

For example, such a company must understand the consensus mechanism and cryptography concept.

Conclusion

If you’re looking for a Blockchain development agency, it’s essential to understand the best qualities of such a developer.

Here, we’ve delved into the attributes you should evaluate when choosing a Blockchain development firm.

Some of the primary qualities to consider include an understanding of smart contracts, blockchain architecture, and cryptography.

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5 Best Degrees to Study Blockchain

May 26, 2022 /
degrees to study blockchain
Degrees to study blockchain technology

Published by FrankNez Team.

We’re sure you’ve heard a lot about blockchain lately.

It is one of the hottest words out there.

Although you may still be unclear what it means, the term represents a huge revolution not only in the economic sphere but in many other areas as well.

What makes blockchain special is that it eliminates intermediaries so that all management is decentralized.

Thus, control over the process belongs to the users.

Simply put, you could say it’s like a ledger.

In this ledger, records (blocks) are linked and encrypted to protect the security and privacy of transactions.

In other words, it is a secure distributed database.

If you’re interested in learning more, stay tuned!

We’ll talk about blockchain and what you can study to become a professional in this field.

At the end of any program, you will have to defend your master’s thesis.

By contacting the dissertation assistance service, you will get a unique and correctly edited paper.

Keys to Blockchain

Blockchain

As we said before, the application of this huge database can be extrapolated.

That is, it can be applied to all kinds of transactions that don’t have to be economic.

However, blockchain was originally invented to support the digital currency, bitcoin.

It is the first cryptocurrency that was not issued by a central bank.

This means that those who buy and pay with bitcoins do so on a public network.

Going back to the blockchain, there is one important requirement: it must have multiple nodes.

By node, we mean every computer participating in a peer-to-peer (P2P) network.

These nodes are responsible for validating these transactions to confirm them so that the block corresponding to that transaction is written.

This is a very secure network because, being a distributed technology where each node in the network stores an exact copy of the chain, the information is available at all times.

However, if this information is stored in encrypted form, its confidentiality can be guaranteed.

Thus, only those who have the key to the cipher can access it.

Moreover, if an attacker wants to cause a denial of service, he will have to disable all nodes in the network.

Since it is enough for at least one of them to be operational to get the information.

So, what you should study?

Professional Training in Networked Computer Systems Administration

You will be trained to perform tasks such as administering server operating systems, installing and configuring software, in quality conditions to ensure the system works; administering network services (web, e-mail, and file transfer, among others) installing and configuring software, in quality conditions or even administering users according to work specifications to ensure access and availability of system resources.

International Trade Course

Here are some of the topics covered: international means of payment, guarantees and collateral in international sales transactions, international taxation, the use of e-commerce in collection and payment facilities, and foreign currency.

Master in Blockchain and Fintech

You’ll learn the basics of these new payment and financing methods so you can apply them to any business.

Postgraduate Blockchain, DLT, and Cryptoeconomics

This grad school will give you the opportunity to, among other things, discover the distributed ledger and crypto-ecosystem, its participants, services, and applications.

You will also learn how to contextualize the cryptocurrency market and appreciate the scope of the new and emerging economy by writing a lot of research papers.

Postgraduate Expert in Bitcoin and Blockchain

You will learn about blockchain technology and the basics of bitcoin.

As part of your graduate studies, you will also gain an understanding of blockchain security and research, and the legal aspects associated with cryptocurrencies.

Conclusion

The beauty of blockchain is that in addition to its application in a financial environment, where we cannot deny its enormous potential, it can be applied to any transaction that requires verification.

This is an area of research that has high hopes for future growth.

However, if you want to get started professionally, you can choose any of the above options.

In addition to giving you concept about blockchain, some of the alternatives will give you other knowledge.

Which one you choose is up to you!

You can follow FrankNez on: Twitter | Facebook | LinkedIn

Related: How to Invest in Bitcoin Cryptocurrency for Beginners
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