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Articles by Prasanna Kotamraju
Page 6 of 6
How to Trade your cryptocurrency?
When you talk about trading of Cryptocurrency, the following transactions will come under that category.Buying new cryptocurrency using your fiat currencySelling your cryptocurrency for fiat currencyExchanging one type of cryptocurrency for another digital currencyTo make these transactions, there are Cryptocurrency Exchanges.If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.Cryptocurrency ExchangeThese are the websites which allow you to buy, sell or exchange the digital currency. All you have to do is to choose an exchange, create an account and get your id verified, and you are ...
Read MoreWhat happens to Bitcoin after all the 21 Million Coins are mined?
Bitcoins are created by Satoshi Nakamoto, in 2008 whose identity is still a mystery, whether it is one person or a group of persons. Satoshi Nakamoto proposed Bitcoin as a means of exchange, independent and secure and also a limited number.Now the question comes, Why limited supply?The most important feature of Bitcoin is that it is decentralized. No Central authority will keep a check on its demand or supply. Satoshi has created an open source code which is maintained by a group of volunteer programmers and runs as a distributed network with nodes spread across the world. We know that ...
Read MoreThe 51% Attack
The 51% attack refers to an attack on the block chain network, deceiving the miners with a duplicate block chain which has more than 50% acceptance and spending the same bitcoins again.To put it in simple words, a single miner or a pool of miners controlling more than 50 (say 51%) of the cryptocurrency network’s mining hash power, can attack the block chain network and reverse the transactions. Once they have more than 50% of hashing power they can take control of the cryptocurrency network and they could double spend the coins.However, by controlling the majority of computing power on ...
Read MoreHow does cloud mining Bitcoin Work?
We know about Bitcoin mining … and how you can earn reward of 12.5 Bitcoins for every mathematical algorithm solved. The more number of miners join the network, the faster the puzzles get solved, the tougher the algorithms become. Though there is a large potential in Cryptocurrency to earn money, there is also a lot of uncertainty and speculation.Mining Bitcoins at home is highly difficult and impractical thing to do, because of the highly expensive hardware and high electricity bills. One more risk factor is the graphic cards you use should be constantly updated so as to meet the rising ...
Read MoreWhat are Blocks in a Block Chain?
Bitcoins or any other cryptocurrency for that matter, trade at different values. These values are based on supply and demand and most importantly on speculation. The Block chain is the chain of block that stores the information of the transactions of a Bitcoin. Satoshi Nakamoto created the first block in 2009, which is called the Genesis Block.Block Chain is a distributed ledger which stores the data in Hash values. Every digital currency has its own block chain that keeps a record of all transactions ever done using that currency.Peer to Peer Network or P2P Network allows everyone to have a ...
Read MoreWhat are Hash Functions in block chain?
We know that bitcoins enter into the digital market only through mining. It is a cryptocurrency created as a peer-to-peer currency which can be traded without using any Bank or Payment gateway. When these transactions are made, they are accounted for using a publicly distributed ledger which keeps a record of all the transactions made to every Bitcoin.Every time a transaction is made, a new block is created. Every new block will be verified and added into the block chain by the miners. Here comes the purpose of hash functions to make the block chain secure.What is a Hash?Hash is ...
Read MoreWhat is a Litecoin?
Just like our fiat currency, we have dozens of cryptocurrencies which are ruling the digital world now. Litecoin is created based on an open source cryptographic protocol and was started in October 2011 as an early bitcoin spinoff. It is a decentralized money, free from censorship and used to send secure payments digitally.According to the market capitalization, LiteCoin is the third largest cryptocurrency after BitCoin and XRP, and like other cryptocurrencies, Litecoins does not allow transactions in US Dollars. They conduct transactions in Litecoin units.The total number of Litecoins that can ever be mined is capped at 84 million. The ...
Read MoreWhat is the best Bitcoin Mobile Wallet?
Bitcoin wallets come on different platforms with different features. There is not “one size fits all” concept.Bitcoin wallet can be set up electronically either on your mobile or desktop. It is an application or a program which allows you to send or receive Bitcoin cash, and keep track of your transactions and history. The software program stores the private and public keys and interacts with various block chains to enable the users to send and receive digital currency and also monitor their balance. If you want to store and use the crypto currency you need a Digital Wallet.They are downloaded ...
Read MoreHow homeschooling is changing the education system in India?
Homeschooling has changed the conventional schooling system across the globe. The flexibility of the curriculum, individual schedule, and personalized syllabus is catching up all over the world and many countries are recognizing the value of homeschooling. In the last decade, the well-informed parents in India have started opting for homeschooling or alternative schooling, although a majority of Indian parents still prefer conventional education. There is one very important reason in India why parents are still opting for conventional education more than homeschooling. The laws in India, especially the Right to education act makes it mandatory for every child from ...
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