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What is a cryptocurrency? A cryptocurrency is a currency which is electronic, or virtual since it has no physical shape. On a decentralized database network or blockchain, it is shared peer to peer, continuously modified and (deemed) immutable. A blockchain's source code is based on cryptography concepts for validating transactions and issuing the currency itself. The vast majority of cryptocurrencies evade state and central bank controls. The blockchain functions as a…
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What is bitcoin? Bitcoin is a peer-to-peer network-based, experimental property transfer and verification system without any central authority. The bitcoin network's initial application and principal innovation is a decentralized digital currency whose account unit is bitcoin. Bitcoin operates with software and a protocol that allows users to and issue the bitcoins and handle transactions. It also allows the interoperability of the software and services that use it, as a…
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Man United vs Southampton Match Preview || EPL Week #35 || Beating the closing line After restarting the league last month, the Red Devils have been in excellent shape and are still fifth in the table, while Southampton is 12th, who have also impressed after returning to the field. Match Preview Now unbeaten in all competitions in their last 17 games, United will look to further improve their chances of finishing in the top four when they host Southampton on Monday evening…
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What is a cryptocurrency wallet? What is a wallet? In cryptocurrencies terms, a "wallet" is a method of secure physical or digital storage of cryptocurrencies. The word wallet addresses different types of storage. In practice, however, a wallet – can be a software application, encrypted and secure file or a simple piece of paper – almost invariably integrates two elements: a public key, known to all and corresponding, for example, to a bitcoin address, or another…
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Gloridax Soldier Challenge || Splinterlands This week's battle challenge focuses on the Rare Dragon Monster card, Gloridax Soldier: *What the Gloridax call a soldier many of the other armies of the Splinterlands consider a highly specialized master of weaponry, one who wears custom armor and carries into battle all the might and fury of Dragons. Most of the Soldiers are scaled, and some can even fly. The Gloridax also allow dropborn (The alternative to eggborn) to become…
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What is a mnemonic seed phrase? The mnemonic seed is a sequence or a word scheme that helps the brain remember more complicated things. An example of mnemonic seed phrase; "May I have a large container of coffee beans" in English (may I have a large container of coffee beans). This sentence represents Pi, each letter corresponding to the position of each 3.14159265 decimal place. The mnemonic seed words in cryptocurrency is a little more complicated, but the concept is the…
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What is a blockchain? The blockchain can be likened to a digital book managed by a computer network. Data is then added in real-time to this ledger and is available to all participants. Once a blockchain transaction is made, it is added to a list. This block includes all the transactions that happened in the last few minutes (10 minutes for the Bitcoin network) and that were shared with the entire computer network. Participants in the network are known as nodes. Some of…
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What is an altcoin? What are Altcoins? Are they useful or are they just cheap Bitcoin replicas? An altcoin is the contraction of the "alternative coin" expression This classification refers to all non-bitcoin cryptocurrencies. An altcoin is an alternative to bitcoin, this cryptocurrency that was itself created in 2008 to offer the traditional financial system a decentralized alternative. Altcoins (NEO, Ripple, Monero, Ethereum, Dash, Litecoin, etc.) are digital assets…
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My first season awards || Splinterlands And just like that, I have completed my first season in Splinterlands. I managed to stay in and around Gold I and tried last night and this morning to break into Diamond III, but no success. Nonetheless, lets get to it. Season Stats I started playing Splinterlands on 7th July and the current season was already underway: Battles: 327 Wins: 187 Longest streak: 10 Highest rating: 2726 Highest league: Gold I I managed a win rate of +/- 57%…
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What is crypto mining? Cryptocurrency mining plays a key role in the crypto industry. What is cryptocurrency mining? Mining machines (e.g. computers, mining rigs) perform automated tasks to verify network transactions-which confirms their validity-in a way that does not require a central bank to be the third party. The process has a strong relationship with blockchain technology, because blockchain functions as a distributed ledger, separating knowledge across network nodes…
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Why should you invest in cryptocurrency? Whether you are following the financial markets, you certainly have learned about cryptocurrencies. Yet have you ever considered investing in cryptocurrencies? Cryptocurrency as a financial asset for investing Cryptocurrencies must strike a balance between means of payment and as a financial asset. In recent years, many people have been investing in cryptocurrencies. But are cryptocurrencies like any other investment? After a record…
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What is a Bitcoin block halving? An important term in the Bitcoin world, which refers to the limited supply, is called block halving. Where do new Bitcoins come from? To understand what block halving Bitcoin means, it is necessary to understand how new Bitcoins are created. There is a limited amount of Bitcoins; 21 million in total. The ceiling on the number of Bitcoins in circulation is predetermined and enforced by the Bitcoin protocol. Coins will be released at a…
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What is the Dogecoin? (Explained) Dogecoin is a decentralized digital currency that allows peer-to-peer transactions very quickly, securely and at low cost. Dogecoin was created as a "joke" on 6th December 2013. Its purpose was to make fun of other cryptocurrencies which were somewhat frowned upon at the time. But things didn't go exactly as expected for Billy Markus, its founder. A month later, its market capitalisation had already reached $60 million. Dogecoin has the…
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What is the difference between a hard fork and a soft fork? Why are forks so important? And what's the difference between a Hard Forks and a Soft Forks? What is a fork? A "fork" is a modification of source code, in programming terms. The code is identical to the original but with major modifications. A fork is often used to check a process, but with cryptocurrency, it is used more frequently to enforce a fundamental change or to build a new asset with similar (but not equal)…
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Horny Toad🐸Battle Challenge || Ep. #6 || Splinterlands This week's battle challenge focuses on the Untamed Monster card, Horny Toad🐸: *When the Horny Toad puffs up and fills itself with air, razor-sharp spines protrude in every direction from its body. This amazing defense helps make sure the toads are not eaten as snacks. They also urinate uncontrollably when frightened, an attribute repulsive enough to save their lives quite frequently.* Card While unfortunately named, I…
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THEN AND NOW: What are the top 10 ranking cryptocurrencies in 2013 up to today? It's been 7 years since many of these cryptocurrencies were at the top. While some have stuck around, others have left the magical world of internet money. Methodology and Approach The approach used in this post includes: Obtain the last historical snapshot data for 2013 on coinmarketcap (CMC) https://coinmarketcap.com/ Evaluate each cryptocurrency in the top 10 based on the following CMC rank…
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What is the difference between Ethereum and ether? Ethereum is the second biggest cryptocurrency, following Bitcoin. Yet it is very different from Bitcoin. What is Ethereum? Ethereum is a blockchain protocol created by Russian-Canadian developer Vitalik Buterin. The blockchain is a technology that enables information to be stored and exchanged in a transparent and protected manner, without any central control entity. Launched in 2015, Ethereum, the second-largest…
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Beginners luck || Ep. #7 || Splinterlands In my previous end of season awards post, I boldly stated goals that I wanted to strive towards in the new season. Let's review how those goals are panning out, one week into the new season. In progress review of my second season In my fledgeling career playing splinterlands and with rose-tinted glasses on, I had set out these goals for the new season: Break into Diamond III league Play 350 battles 60% win rate ratio The new season…
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Cryptocurrency Prices: Bid vs Offer? A cryptocurrency price is the price that one cryptocurrency can be exchanged for another. Demand and supply for the currency in the open market determines this price, but it can also be influenced by speculation, whales and news. Cryptocurrency prices are always quoted on the basis of 1: XXXX. In other words: The number of the Right-Hand Side equals to one of the Left-Hand Side e.g. (ETH/BTC 0.029615, 1 ETH = 0.029615 BTC). Bid and Offer…
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Finding cryptocurrency price arbitrage opportunities Any transaction requiring a cross rate will be theoretically priced on the basis of two separate transactions against a common cryptocurrency – usually Bitcoin (BTC). What is the cross rate? In the market, most cryptocurrencies are quoted against BTC either on a direct basis (i.e. where the BTC is the base currency) or on an indirect basis (i.e. where the BTC is the variable currency). Naturally, not all cryptocurrency…
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Is Hive the future of decentralized social media? Since its launch on March 20th 2020, when Hive was hard-forked from Steem, it's been growing and evolving every day. What is Hive? Hive is a social media blogging platform (ala Reddit), which was developed and founded on the core principle of decentralization. Hive had no ICO and no pre-mine period. Hive blockchain eliminates the centralisation and unbalanced control structures that have plagued the Steem blockchain over the…
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Silvershield Warrior Battle Challenge || Ep. #8 || Splinterlands This week's battle challenge focuses on the Silvershield Warrior: *The Warriors of the Silver Shield are the first line of defense for Khmyeria. They live simple lives, ready to be deployed at any moment, even though most of their missions are trivial errands. When a battalion of Warriors is deployed, the tips of their spears often find trouble where there is none.* Card I love tanks that have the reach ability…
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How and where to grow DeFi yields in the money market? Today's most popular buzzword in cryptography is "yield farming," which enables people to gain a fixed or variable interest by investing cryptocurrency into the DeFi market. Investing in ETH is not yield farming; ETH loaning on Aave is yield farming for a return above ETH's price appreciation. Crypto investors need to consider what it's all about and how it operates. Different DeFi Money Market Protocols Compound…
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How and where to grow DeFi yields in liquidity pools? Uniswap and Balancer are the two main pools of DeFi 's liquidity, offering liquidity providers (LPs) a fee to connect their funds to a pool. In Uniswap, the liquidity pools are structured in a 50-50 ratio between two assets. Within a liquidity pool, Balancer enables up to eight assets with custom ratios between assets. Most liquidity pools on DeFi can be seen on pools.fyi: https://pools.fyi/#/ Each time a transaction is…
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My first investments up 27% || Ep. #9 || Splinterlands I love it when a game implements and adopts a real-world auction house. In my younger years, I lost many days and weeks trading on FIFA Ultimate team to acquire the best cards and team. There is a huge thrill in finding the right niche in the market, making it your own and profiting from that knowledge. Over the past few weeks, I have been learning and studying the Splinterlands market to purchase a few cards for…