Hot wallets are a means of storage for cryptocurrencies, that are connected to the internet. These wallets are free and relatively easy to set up. Thus, most of the first time users prefer this mode of storage. It comes in various formats like: Online Software Mobile As different wallets support different cryptocurrencies, one needs to... Continue Reading →
It is imperative to carefully select a Bitcoin Wallet because this is where one's public and private keys reside. In a situation of the wallet getting compromised, all the bitcoins can be lost. One should not make random selections or take opinions from someone who may not have sufficient experience in this field. There are... Continue Reading →
Introduction Crypto-backed loans are those that are collateralized by crypto assets which means that fiat money (usually US Dollars) are lent in exchange for Bitcoin, Litecoin or Ether as security for payment. The procedure is very simple and the currency is transferred directly into borrowers' bank accounts or wallets. Usage These loans are very cost-effective... Continue Reading →
The Global Banking sector is currently a $134 billion industry. However, it has been one of the most prone sectors to large-scale fraudulent activities. In the recent past, the quantum of frauds has been on the rise. This can be seen especially in the Indian sector: ₹9,000 crore (over $1.2B) involving liquor baron Vijay Mallya... Continue Reading →
We have already mentioned how the blockchain technology is the first step towards a decentralized world, and we also know cryptocurrencies are one of the most significant applications of the blockchain. But, how do we trade these digital currencies? Is this system decentralized as well? Decentralized Exchanges Decentralized exchanges do not rely on services of third... Continue Reading →
Cold storage is an offline wallet for personal storage of Bitcoins. The digital wallet is stored on a platform that isn't connected to the internet thus preventing cyber attacks or any such vulnerabilities. It is considered essential mainly due to its security precautions, especially when dealing with a large quantum of Bitcoins. The function of... Continue Reading →
The general meaning of the word disruption is change. However, it is normally viewed in a negative sense that causes hardships on a large-scale. A more descriptive meaning would be 'a catastrophic action which prevents any system, process or event from performing under normal circumstances'. The event is unexpected and replaces the heritage ways of executing... Continue Reading →
What is Hyperinflation? Hyperinflation refers to a very high and rapidly increasing inflation leading to a continuous increase in prices, cost of goods and money supply. Some of the impacts are: Unprecedented increase in money supply which raises the prices of goods and services Diminishing value of the local currency Hoarding of essential commodities Political... Continue Reading →
A Peer-to-Peer network popularly known as the P2P network is initiated when 2 or more PCs (Personal Computers) are connected for sharing their resources through a common server. This could be in the form of: Ad-hoc connections like those available in a coffee shop Connection through a USB for file transfer A mini establishment running... Continue Reading →
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