Multilayer Cryptocurrency

Questions have been raised as to whether Bitcoin has become a multi-layered system. Well, the answer is yes. This article tries to describe the different layers on which bitcoin is located. It’s all yours!
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Have you heard of those who call Bitcoin digital gold? Clearly, cryptocurrency is rapidly gaining popularity and acceptance in the cryptocurrency world. The value of the coin is expected to rise further. However, it is noted that the coin can win or lose 50% of its value overnight. This has led to speculation among investors, but the coin is still “digital gold”. And to the question of whether bitcoin is a multi-layered system, it is necessary to know that bitcoin exists in two main layers. These are mining and semantic layers.
Ore layer

This is the layer on which the coin is made. Along with bitcoins, ether is created in this layer. Once the coins are created, the reliable blocks of bitcoins are transferred to the ledger. Currency production is carried out here. It should be noted that the currency arises from transactions in bitcoin blocks. Blocks are known as transaction fees. Currency can be created from the network itself or you can say “from the air”. The main advantage of creating currency from the network is that it provides incentives to miners.
Semantic layer

It provides a very important platform. The semantic layer is the layer where bitcoins are used as a means of payment. It also provides a platform for using bitcoins as a storehouse of value. Layers seem very important, don’t they? Bitcoin currency holders sign trust transactions that indicate that bitcoins have begun to be transferred between nodes at the semantic level. Moving can also be done by creating smart contracts. Smart contracts transfer coins between different accounts.
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Lightning network

You’ve probably never heard of lightning. This is the latest invention presented by the bitcoin community. This layer will be able to work on bitcoin. With this invention will come an application layer on top of bitcoin. It will be very exciting. The most interesting thing is that its value can also be used to pay. This will be possible by carrying its value among people. With the invention of the lightning network, bitcoin will become both a transport layer and an application level.
Today, the value of bitcoin is estimated at about $ 9 billion. It is also known that Bitcoin is a decentralized cryptocurrency. This means that it operates without the supervision of a bank or administrator. Bitcoin is undoubtedly conquering the world of crypto.
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In addition, the technology used in the extraction of bitcoin is called blockchain technology. It works by allowing digital information to be disseminated, not by copying it. Cryptocurrencies are a really interesting topic, and in the near future bitcoins may overtake our major currencies.
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Crypto TREND – Fifth Edition

As expected, we received a lot of questions from readers after the publication of Crypto TREND. In this issue, we will answer one of the most common.

What changes are coming in the cryptocurrency sector that could be game changers?
One of the biggest changes that will affect the world of cryptocurrency is the alternative block verification method called Proof of Stake (PoS). We will try to keep this explanation high enough, but it is important to have a conceptual understanding of what the difference is and why it is an important factor.
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Keep in mind that the core technology with digital currencies is called blockchain, and most existing digital currencies use a validation protocol called Proof of Work (PoW).
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You must rely on a third party, such as Visa, Interact, or a bank or check clearing house, to perform your transaction with traditional payment methods. These trusted entities are “centralized”, meaning they keep their own books, which keep track of the history of the transaction and the balance of each account. They will show you the transactions and you have to agree that it is right or start arguing. Only the parties to the operation see this.
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With most Bitcoin and other digital currencies, books are “decentralized,” meaning that everyone on the network gets a copy, so no one should trust a third party, such as a bank, because anyone can check the information directly. This verification process is called “distributed consensus”.
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PoW requires “work” to confirm a new operation to access the blockchain. With cryptocurrencies, this check is performed by “miners” who have to solve complex algorithmic problems. As algorithmic issues become more complex, these “miners” first and foremost need more expensive and powerful computers to solve problems. Minning computers often specialize in using ASIC chips (Application Specific Integrated Circuits), which are more efficient and faster at solving these difficult puzzles.
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Here is the process:

  • Transactions are collected in a “block”.
  • Miners confirm the legitimacy of transactions within each block by solving a riddle of a hashing algorithm known as “proof of work problem”.
  • The first miner to solve the bloc’s “proof of work problem” is rewarded with a small amount of cryptocurrency.
  • Once approved, transactions are stored in a public blockchain throughout the network.
  • As the number of operations and miners increases, so does the difficulty of solving hashing problems.

While PoW helps get blockchain and decentralized, unreliable digital currencies out of the way, it has some drawbacks, especially with the amount of electricity these miners try to solve as soon as “proof of work problems.” According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners use more energy than 159 countries, including Ireland. As the price of each Bitcoin rises, more and more miners are trying to solve problems, consuming more energy.
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All of this energy consumption has prompted many in the digital currency space to look for an alternative way to validate blocks just to validate transactions, and the leading candidate is a method called “Judicial Evidence” (PoS).

PoS is still an algorithm, and the goal is the same as in the proof of the case, but the process of achieving the goal is completely different. There are no miners with PoS, instead we have “validators”. PoS is based on the knowledge that all people who confirm trust and operations have skin in the game.

In this way, instead of using energy to solve PoW puzzles, a PoS validator is limited to approving the percentage of transactions that reflect its ownership share. For example, a validator with 3% of the existing Ether can theoretically validate only 3% of the blocks.

Your chances of solving a proof of work problem in PoW depend on how much computing power you have. With PoS, it depends on how much cryptocurrency you have. The higher your stake, the higher your chances of solving the block. Instead of winning cryptocurrencies, the winner receives a confirmation transaction fee.

Appraisers enter their shares by “closing” part of the stock marks. If they try to do something harmful to the network, such as creating an “invalid block”, their share or security deposit will be confiscated. If they do their job and do not break the network, but do not gain the right to approve the block, they will get their shares or deposits back.

If you understand the main difference between PoW and PoS, here’s what you need to know. Only those who plan to become a miner or validator should understand all the intricacies and subtleties of these two verification methods. The majority of the population wishing to own cryptocurrencies will receive them only through one exchange and will not participate in the actual drilling or approval of block transactions.

Most in the cryptographic sector believe that digital tokens need to switch to the PoS model for digital currencies to survive in the long run. At the time of writing, Ethereum is the second largest digital currency after Bitcoin, and their development team has been working on a PoS algorithm called Casper for the past several years. Preferring Ethereum over all other major cryptocurrencies, we are expected to see the introduction of Casper in 2018.

As we have seen in the past, major events such as the successful implementation of Casper could significantly increase the price of Ethereum. We will inform you in future issues of Crypto TREND.

Stay with us!


Cryptocurrency for beginners

In the first days of its launch in 2009, several thousand bitcoins were used to buy pizza. Since then, the cryptocurrency has fallen by about 70 percent in mid-2018 to $ 6,000 and then risen to $ 65,000 in April 2021, much to the chagrin of many cryptocurrency investors, traders, or just anyone else. missed the boat.

How it all started

Note that dissatisfaction with the current financial system has led to the development of digital currency. The development of this cryptocurrency is based on blockchain technology by Satoshi Nakamoto, a pseudonym probably used by a developer or a group of developers.

Despite numerous opinions predicting the death of the cryptocurrency, the performance of bitcoin has inspired many other digital currencies, especially in recent years. The success of the crowded financing brought about by the blockchain fever has undoubtedly attracted those who tried to deceive the public, and this has attracted the attention of regulators.
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Beyond Bitcoin

Bitcoin has inspired the release of many other digital currencies, with more than 1,000 versions of digital coins or tokens currently available. Not all of them are the same, and their values, such as liquidity, vary greatly.

Coins, altcoins and tokens

Suffice it to say that at this point there are wonderful differences between coins, altcoins and tokens. Although altcoins such as Ethereum, litecoin, ripple, dogecoin, and dashes belong to the ‘main’ category of coins, they are mostly traded on cryptocurrency exchanges, meaning that altcoins or alternative coins generally describe something other than advanced bitcoin.

Coins serve as a storehouse of currency or value, while tokens offer active or utility use, such as a blockchain service to manage the supply chain to inspect and track wine products from winemakers to consumers.

It should be noted that low-value tokens or coins offer positive opportunities, but don’t expect similar meteoric increases like bitcoin. Simply put, lesser-known tokens are easy to buy, but hard to sell.

Before you start cryptocurrency, start by studying the value proposition and technological considerations, i.e. the commercial strategies outlined in the white paper that accompany each initial coin offer or ICO.

For those who are familiar with stocks and stocks, this is no different than an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and business experience. All this is done in a regulated environment. An ICO, on the other hand, is based solely on an idea proposed on a white paper by a business – which is still active and has no assets – looking for funds to get started.
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Uncontrolled, so buyers be careful

“The unknown cannot be regulated” probably concludes the situation with the digital currency. Regulators and regulations are still trying to catch the ever-evolving cryptocurrencies. The golden rule in the cryptocurrency space is “caveat emptor”, let the buyer be careful.

While some countries focus on blatant fraud, they are open to adopting policies that are accessible to cryptocurrencies and blockchain applications. However, there are regulators in other countries who are more interested in the disadvantages than the advantages of digital money. Regulators are generally aware of the need to strike a balance, and some are looking at existing securities laws to try to manage the many flavors of cryptocurrencies globally.

Digital wallets: The first step

Wallet is important to start cryptocurrency. Consider e-banking, but exclude the protection of the law in the case of virtual currency, so security is the first and last thought in the crypto space.

Wallets are digital. There are two types of purses.

  • Hot wallets connected to the Internet, which put users at risk of breakage
  • Cold purses that are not connected to the Internet and are considered safer.

In addition to the two main types of wallets, it should be noted that there are wallets for only one cryptocurrency, and others for multi-cryptocurrencies. There is also the opportunity to have a multi-signature wallet, to have a joint account with a bank.

The choice of wallet depends on the user’s choice, whether it is pure bitcoin or ethereum, because each coin has its own wallet or you can use a third-party wallet that contains security features.

Wallet notes

Cryptocurrency wallets have public and private keys with personal transaction records. The public key contains a reference to the cryptocurrency account or address, as opposed to the name required to receive the check payment.

The public key is accessible to all, but transactions are only verified during verification and verification based on a consensus mechanism applicable to each cryptocurrency.

The private key can be considered a PIN code widely used in e-finance transactions. It follows that the user should never disclose the private key to anyone and should not back up this information, which should be kept offline.

It makes sense to have minimal cryptocurrency in a hot wallet, and a larger amount should be in a cold wallet. Losing a private key is as good as losing your cryptocurrency! From strong passwords to malware and phishing awareness, the usual precautions for online financial transactions apply.

Wallet formats

There are different types of purses according to individual preferences.

  • Wallets made by third parties and to be purchased. These devices work as a USB device, which is considered somewhat secure and can be connected only when the Internet is needed.
  • For example, web-based wallets provided by cryptocurrency exchanges are considered hot wallets that put users at risk.
  • Software-based wallets for desktops or mobile phones are mostly free and can be provided by coin issuers or third parties.
  • Paper-based wallets can be printed in QR code format, containing relevant information about cryptocurrencies that are public and have private keys. They should be kept in a safe place for as long as required during cryptocurrency transactions, and copies should be prepared in the event of an accident, such as water damage or fading of print data over time.

Cryptocurrencies and markets

Cryptocurrencies are trading platforms for those interested in virtual currencies. Other options include websites for direct trading between buyers and sellers, as well as brokers that do not have a “market” price but are based on concessions between the parties to the transaction.

Thus, there are many cryptocurrency exchanges located in different countries, but with different security practices and infrastructure standards. They are those that allow anonymous registration, which requires only an email to open an account and start trading. However, there are others that require users to verify their international identity, known as Customer Identification, and to take anti-money laundering (AML) measures.

The choice of cryptocurrency depends on the user’s choice, but anonymous ones may have restrictions on the allowable range of trades or may be subject to sudden new rules in the country where the exchange resides. Minimal administrative procedures with anonymous registration allow users to trade faster and go through more KYC and AML processes.

All cryptocurrency trades must be properly processed and approved, which can take anywhere from a few minutes to several hours, depending on the coins or tokens traded and the volume of the trade. Scalability is known to be a problem with cryptocurrencies, and developers are working on ways to find a solution.

Cryptocurrency exchanges fall into two categories.

  • Fiat-cryptocurrency Such exchanges provide direct transfers from banks or credit and debit cards, or the purchase of fiat-cryptocurrency through ATMs in some countries.
  • Cryptocurrency only. There are only cryptocurrency exchanges that deal with cryptocurrency, meaning that customers must already have a cryptocurrency – for example, bitcoin or ethereum – to be “exchanged” for other coins or tokens at the market rate.

Fees are charged to facilitate the purchase and sale of cryptocurrencies. Users need to do research to be satisfied with infrastructure and security measures, as well as determine the fees they are comfortable with because different exchanges apply different tariffs.

Don’t wait for the total market price for the same cryptocurrency with different exchanges It may be advisable to spend time researching the best price for the coins and tokens you are interested in.

Online financial transactions are risky, and users should consider alerts such as two-factor authentication or 2-FA, keep up to date with the latest security measures, and be aware of phishing scams. One of the golden rules of phishing is not to click on the links provided, no matter how original the message or email.

What is cryptocurrency?

Cryptocurrency (or Cryptography) is a controversial digital asset designed to act as a cryptographic exchange tool to protect your transactions, additional monitor units, and transfer assets. Crypto values ​​are a type of digital currency, alternative currency and virtual currency. Cryptocurrencies use decentralized control instead of a centralized electronic money system and central banks.

Decentralized control of each cryptocurrency works through a blockchain, which forms the basis of public transactions, acting as a distributed record.

Formal definition

According to Jean Lansky, crypto may be a system that meets four conditions:

• The policy determines whether new cryptocurrency units will be created. If new cryptocurrency units can be designed, the system determines the terms of the source with the ownership of these new units.

• If two different instructions are entered to change the acquisition of the same cryptographic units, the system executes at most one of them.

• The system allows operations to be performed in a way that changes the owner of the cryptographic unit. The extraction operation can only be issued by an institution proving the current owners of these units.

• Ownership of cryptocurrency units can only be specified cryptographically.


Decentralized cryptography produces all cryptographic services at a rate determined during system creation and is known to the public. In centralized banking and economic policies, such as the Federal Reserve System, administrative committees or governments control the flow of money by printing units of trust funds or requiring additional digital books. In the case of decentralized cryptocurrencies, governments or companies cannot produce new units, but they are not compatible with other companies, banks or institutions with property values. The basic technical system based on decentralized cryptocurrencies was created by a group or individual known as Satoshi Nakamoto.

As of May 2018, there were more than 1,800 crypto transparent specifications. The crypto-currency, security, integrity and balance sheet system is maintained by an association of mutually suspicious parties called minors who use their computers to confirm the timing of the transaction, adding them to the register under a special time stamp scheme.

Most cryptocurrencies are designed to gradually reduce the production of this currency by limiting the total number of coins in circulation. Compared to common currencies held or held by financial institutions

With money in hand, it can be more difficult for police to catch cryptocurrency. This problem stems from the use of cryptographic technologies.

Guide to Successful Trading in Major Cryptocurrencies

Cryptocurrency trading has taken the world by storm, and it has become the norm for most traders and investors. If you are willing enough to do research before you start trading, you have a chance to make real growth and profit in the end. The worst thing you can do when it comes to this type of trade is to go into it blindly because it is what everyone else is doing. A little research on major currencies and an in-depth introduction to the basics of buying and trading can make a big difference. Here are some tips to help you succeed in your business.

Take the time to understand how the blockchain works

Blockchain technology has redefined operations and changed everything. A blockchain can be defined as a list of records that are protected by cryptography and converted into related blocks. Blockchains are resistant to data exchange and serve as a public transaction book between the parties. The transparent and decentralized nature of the block chain makes it highly secure, and in the world of breaking it is truly functional and reliable. It solves the problems of manipulation that are becoming clear in the world today. While no one can claim to understand everything that is a blockchain, learning a few basics will give you an easier time with your trading.

Know and learn the best currencies

Due to the popularity of currencies, the virtual currency space is becoming more dense. The fact is that today there are more than 100 cryptocurrencies, which means that you need to know which is the best and most popular, so you can choose the right trade, taking into account the profitability. Bitcoin accounts for half of the entire market with the highest volume, but Litecoin and Ethereum are also in the first place and are overtaking Bitcoin. Learn as much as you can about the currency you are interested in. The more you know, the better you will be at making decisions; In fact you can trade with more than one cryptocurrency without any problems.

Consider native risks

Bitcoin and other currencies are very volatile compared to stock exchanges and gold. Remember that this is still a technology in its early days and faces many challenges. The probabilities of profit are very high, but the risks are the same. Public opinion on a currency can actually affect its prices. Anything that goes up will definitely go down, so be careful with the trades you make. The higher the risks, the higher the rewards, but also ready for losses. Regardless of the cryptocurrency you choose, the best thing you can do is track events that can affect prices and move fast.

Once you know everything that is important in cryptocurrency trading, you can proceed and open a brokerage account and finance it, and then start buying and selling currency. The rewards are many for enthusiastic traders.

Peer To Peer Cryptocurrency

If you want to have a flexible, anonymous and secure currency transaction, Cryptocurrency concepts need to be cleaned up. Peer-to-peer business has many benefits that can be achieved by using this nature of currency when desired.

The main requirement for such foreign exchange transactions

There is a Blockchain requirement to conduct such a currency transaction between two peers. When this is available, there is no need for any trusted third party to perform such operations. The system provides a way to have a secure operation because hackers cannot manipulate any transaction or create false information.

Benefits of using such an operating system

There are many benefits to using this nature of peer-to-peer surgery. Let’s look at them.

Nickname: Everyone who trades using cryptocurrency has a unique identifier. The uniqueness of the identifier is that it is not associated with the username and address. The identification can be easily changed for each operation performed with just a click of some buttons.

Wallets: A wallet is a place where you can practically save your money and use it for any transaction. There are many ways to keep your wallet safe. You can use passwords, encryptions, or have special equipment to provide such security. You can easily access the privacy and security of the money in your wallet.

Safe operations: You can hope to have the safest cryptocurrency transaction. The World Wide Web manages every transaction made. It is a network that is not managed by any central authority, so this decentralized nature of Cryptocurrency allows it to conduct a perfectly peer-to-peer transaction.

The operation is safer because the money cannot be taken from anyone by force. Thousands of inspections are carried out before the operation, and if any defects are found, the operation is stopped. It can be said that such a transaction is safer than using a credit card.

Automated operation: This nature of the peer-to-peer operation can be automated using smart contacts. The system will perform the operation itself according to the rules you set. For example, if you want to transfer a certain amount of money to a certain account after you have a certain fund, the system will automatically follow this instruction.

Rapid settlement: You do not have to wait long to have money in your account because you have this transaction tool. The peer nature of an existing transaction using cryptocurrency allows you to reduce the broker and, consequently, the various items associated with it. So you can expect to have the fastest currency transaction using this tool.

Easy payment:

It is very easy to pay with cryptocurrency. You do not need to pay any high fees or enter any additional information other than the buyer’s wallet address to make such transactions possible. The amount will be transferred to the recipient within seconds.

Thus, it is easy to see how effective and useful peer-to-peer transaction using Cryptocurrency is.

What is cryptocurrency?

Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that serves the exchange of goods and services through an electronic transaction system without any intermediaries. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many others have emerged with other features such as Litecoin, Ripple, Dogecoin and more.

What is the advantage?

The difference when comparing cryptocurrency with ticket money is as follows:

They are decentralized: they are not controlled by the bank, the government or any financial institution

Anonymous: Your privacy is protected during transactions

They are international: everyone’s opera is with them

They are safe: your coins are yours and are kept in a personal wallet with no transferable codes that you know from anyone else.

It has no intermediaries: operations are carried out from person to person

Fast transactions: they charge interest to send money to another country and often take days to confirm; just a few minutes with cryptocurrencies.

Irreversible transactions.

Bitcoins and any other virtual currency can be exchanged for any world currency

This should not be falsified, because they are encrypted by a complex cryptographic system

Unlike currencies, the value of electronic currencies is governed by the oldest rule of the market: supply and demand. “It currently has a value of more than $ 1,000, and like stocks, that value can go up or down in supply and demand.

What is the origin of Bitcoin?

Bitcoin is the first cryptocurrency created in 2009 by Satoshi Nakamoto. He decided to issue a new currency.

Its peculiarity is that you can only perform operations within the network.

Bitcoin belongs to both the currency and the protocol, and the red P2P on which it relies.

So what is Bitcoin?

Bitcoin is a virtual and intangible currency. That is, you cannot touch any of its forms, such as coins and banknotes, but you can use them as a means of payment in the same way.

In some countries, you can earn money with an electronic debit card page that exchanges money with cryptocurrencies such as XAPO. For example, we have more than 200 bitcoin terminals in Argentina.

Undoubtedly, what distinguishes Bitcoin from traditional currencies and other virtual means of payment such as Amazon Coins and Action Coins is decentralization. Bitcoin is not governed by any government, institution or financial institution, public or private, like the Euro or the US Federal Reserve Dollar, which is managed by the Central Bank.

In Bitcoin, users control their transactions indirectly through P2 P (Point to Point or Point to Point) exchanges. This lack of structure and control makes it impossible for any body to manipulate its value or cause inflation by producing more. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is that it has a limit of 21 million coins, and this limit will be reached in 2030.

How much does a bitcoin cost?

As we mentioned, the value of Bitcoin is based on supply and demand and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Currently, the price of Bitcoin is $ 9,300 (as of March 11, 2018), although this value is not very stable and Bitcoin is classified as the most volatile currency in the foreign exchange market.