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What is the Potential That Blockchain Holds For Future?

Blockchain technology has turned the financial industry upside down, but its disruptive applications in finance are just the tip of the iceberg. Blockchain technology has the potential to drive major change and create new opportunities in industries such as banking, cybersecurity, intellectual property, and healthcare. Cybersecurity is one of the most promising growth areas for blockchain technology.

But Blockchain is its true reach – its ability to change the way people do things every day – like choosing, traveling, and even going to the doctor.

The blockchain landscape is growing, and new governance models are needed every hour. Current applications include a variety of sectors including finance, healthcare, contracts, and law, and new future applications are proposed for blockchain daily. The infographic of today comes from Hive Blockchain Technologies and gives us an insight into the potential of blockchain in the financial world.

New governance models will enable larger and more diverse consortiums to approach payment decision-making and approval programs and will help standardize information from different sources and to capture new and more robust data sets. Look forward to governance models that enable massive and diverse consortia with greater efficiency in decision-making and payment empowerment.

Developing regulations and standards to cover the blockchain will be no small challenge, and leading audit firms and bodies will have to contribute their expertise to this task. Accountants with a mix of business and financial expertise can position themselves as key consultants to companies that are approaching this new technology and looking for opportunities.

Many of today’s accounting departments are already optimizing blockchain and other modern technologies like data analysis and machine learning, which will increase the efficiency and value of accounting functions. Reducing the need for reconciliation and dispute resolution, combined with greater legal and regulatory certainty, will allow a greater focus on accounting when auditing transactions, allowing for the expansion of accounting areas. Parts of accounting that relate to transactional assurances made through the transfer of property rights are being transformed by an intelligent blockchain approach to contracts.

For example, using Blockchain to create a single source of truth for transactions between parties has the potential to reduce processing time and cost for insurance companies.

Blockchain also has potential applications beyond the cryptocurrency Bitcoin. Blockchain can be used to facilitate identity management and to help obtain voter information for the proper functioning of the electoral process.

It is hard to imagine an area of life that is not suitable for blockchain upgrades. It would be a mistake to plunge into blockchain innovation without understanding how it is likely to prevail. If true, this could lead to the transformation of the economy and government that we have believed in for many years.

In the short to medium term, one possible path to the future of blockchain would be to deal with the relative immaturity of the technology in such a way that it gains importance through standardization and gains more acceptance in mainstream society. Blockchain technology is being developed to support the cryptocurrency market, but it would not be a big leap if it were applied to more established financial services.

Blockchain technology could allow banks to reduce excessive bureaucracy, speed up transactions at less cost and improve security and confidentiality. Two aspects of blockchain are, however, making it more difficult to take full advantage of technology, creating a new generation of small, innovative, and risky businesses that could disrupt existing industries and transform them if technological constraints are lifted.

Skeptics of the potential of blockchain technology, often associated with cryptocurrencies, to disrupt the way money and other assets are carried around the world say that the technology is not sustainable or efficient enough for mass adoption.

More and more people are already using Algorand for a wide range of applications – from the creation of carbon credit markets to speed up real estate transactions to creating new legal tender in the case of the Marshall Islands. Mainstream companies across all industries are interested, and in some cases will invest in cryptocurrencies and blockchain by 2021.

AMC, for example, announced that it would accept bitcoin payments by the end of the year. Fintech companies such as PayPal and Square are also relying on crypto to allow users to buy on their platforms. According to Accenture, 61% of aerospace and defense companies are working on blockchain and distributed ledger solutions.

In an interview with McKinsey’s Rik Kirkland, Don Tapsc Scott, CEO of Tapscott Group explained that blockchain is a distributed open-source database that uses state-of-the-art cryptography to facilitate collaboration and tracking all types of transactions and interactions. Blockchain technology has the potential to streamline all parts of inventory authentication, certificate tracking, and much more.

Blockchains, peer-to-peer networks that sit on the Internet, were introduced in October 2008 as part of a proposal for Bitcoin, a virtual currency system that evades a central authority for issuing currencies, transferring property, or confirming transactions. Fidelity Investment Standard and Charter are testing blockchain technology as a substitute for paper-based, manual transaction processing in areas such as trading and finance, foreign exchange, cross-border settlement, and securities settlement. The purpose of blockchains is to enable participants in a peer-to-peer network of value-sharing and interaction to create digital assets for each other without having to rely on intermediaries.

The Bank of Canada is testing a digital currency called CAD Coin for interbank payments. Nordea enables small and medium-sized companies active in international trading and has developed a trading platform called We trade with other major European banks, based on an IBM blockchain platform running on the IBM cloud.

IBM Blockchain Technology is involved in more than 400 blockchain projects in government, healthcare, transport, insurance, chemicals, oil, and more. The comments follow a recommendation by Jerry Cuomo, Vice President of IBM Blockchain Technology, and co-moderator Frank Yiannas, who has been appointed Deputy Commissioner for Food Policy and Response at the Food and Drug Administration. American Banker recently published five questions to examine where the blockchain industry is heading.

The International Data Corporation (IDC) expects 35% of IoT deployments to be enabled by blockchain services by 2025. Combined with predictions that blockchain and IoT will strengthen in the future, blockchain technology provides a secure and scalable framework to facilitate communication between IoT devices. In addition, 68% of CIOs and CTOs see the need for scalable governance models to support the interaction of multiple blockchain networks.

Another layer of blockchain technology makes it easier to keep track of sensitive data when it is processed by accounting firms. Data tracking enabled by blockchain technology could help automate certain accounting services using artificial intelligence to reduce human errors and fraud. Bloom wants to bring credit scoring into the blockchain by developing a protocol to manage identity risk in credit scoring using Blockchain technology.

Also read: How does Blockchain Investments Firm offer higher return per fiat currency?

What is DeFi? Everything you need to know!

A significant challenge drives energy into the cryptocurrency industry following asset values that are still 75% lower than they were at just the close of 2017. It’s called Defi, short for decentralized finance—the possibility that crypto entrepreneurs may reconstruct conventional financial instruments in a decentralized architecture, beyond the influence of corporations and governments. And with fresh allegations of misuse of funds against centrally managed cryptocurrency, the case for decentralized application has become even more compelling.

Total Value Locked in Defi Sector Reaches Record $13.6B. The US dollar value of cryptocurrency liquidity locked in all Decentralized Finance (DeFi) ventures has touched another peak.

Decentralized finance, or “DeFi” for short, is an umbrella term to describe any financial services that are built on top of public blockchains such as Ethereum and Bitcoin. It also incorporates all ICO operations, most of which are taking place in Ethereum.

The most popular types of DeFi Applications are Decentralized Exchanges (DEXs), stablecoins, wrapped bitcoins (WBTC), lending platforms, and markets without intermediaries. Through Ethereum, you can write an automated code known as Smart Contracts, in a decentralized manner.

Top 100 Defi Tokens by Market Capitalization

Complete Market Cap: $1944, 108,496

#	Name	Market Cap	Price	Change 24h	Change 7d
1	Bitcoin	$2,660,416,471	$22,991.92	-0.78%	29.18%
2	Compound	$1,242,539,891	$0.02	-0.02%	-0.48%
3	MakerDAO	$1,131,418,874	$1.00	-0.03%	-0.55%
4	Uniswap V2	$890,584,383	$4.14	9.30%	26.68%
5	Yearn.finance.Vaults	$835,365,341	$27,879.53	-1.15%	20.78%

Source: DeFi MarketCap

“Money legos has been coined to refer DeFi services.”

You can build different services from different money legos- Decentralized exchange aggregator to find the exchange with the best rate for swapping Ether for Dai. You can then select the DEX you want and conduct the trade. Further, you lend the DAI you received to borrowers to earn interest. Lastly, you can add insurance to this process to make sure you are covered in case anything goes wrong.

X-DEX.AG	UNISWAP	AAVE	NEWS MUTUAL
Locate Exchange	Trade ETH for DAI	Lend DAI for Interest	Ensure your funds

DeFi Offers:

True decentralization enables control evasion, worldwide cooperation regardless of background, and dispense with reliable third – party.
Using blockchain as a technical platform enables reasonably quick and low-cost money transfers, the immutability of financing, and contract automation.
DeFi applications typically allow the user to remain in the ownership of private keys.
Flexible User Experience.

Risks Involved:

Still in its infancy, which means anything can go wrong.
Smart Contracts have had issues in the past where people didn’t define the rules for certain services correctly.
Hackers previously have found creative ways to exploit existing loopholes to steal money.
If you decide to test out any of the existing DeFi services, make sure to do it with the amount of money you can afford to lose in case anything goes wrong.

DeFi & Bitcoin

Bitcoin itself, at the most basic stage, may be called an initial decentralized finance project. People who use Bitcoin, already operate as their banks (as long as they control their encryption information) and can freely exchange value with anyone they want anywhere. While this is the simplest type of decentralized finance, it may also be the most efficient. Bitcoin users can open “bank accounts” or new wallets in seconds. They can safely lock their wealth in a value that is secured by mathematics from arbitrary volatility, and they can spend that value as much as they want. The question as to whether or not highly advanced, decentralized financial services can transfer to Bitcoin is not a matter of what, but when. Over time, bitcoin sidechains will be able to provide services equivalent to what we’re seeing on Ethereum. Today, however because of its complex smart contract features, Ethereum is far better designed to control DeFi services.

However, new projects are already being planned for Bitcoin, including Bitcoin Hivemind. According to the website, Hivemind is a ‘Peer-to-Peer Oracle Protocol,’ which absorbs accurate information through a blockchain such that users of can make assumptions on marketplaces. DeFi services which are classified as Lending & Borrowing, Derivatives Margin Trading, and Prediction Markets are extremely valuable and efficient.

To sum it up DeFi has reached its early adoption stage and the coming years will tell if it manages to cross the chasm into mainstream adoption.

There is no doubt that a decentralized financial system can benefit a huge portion of the population that currently suffers from high fees, inefficiencies in managing funds, and financial discrimination.

Also read : How does Blockchain Investments Firm offer higher return per fiat currency?

Dogecoin: Who let the “Doge” out?

After the Reddit board spoke about making it the GameStop cryptocurrencies substitute, Dogecoin, a digital coin originally introduced as a meme, recently plummeted over 800%. Dogecoin (DOGE) cannot escape its massive surge started by Wallstreetbets and is moving parabolic for the second day.

According to Cryptocurrencies, Dogecoin, which originated as just a joke or even an Internet meme centered on such a popular dog picture, has exploded in the last 24hrs. Dogecoin is a digital coin that is used for e-transactions, similar to bitcoin, and its meme has an illustration of the dog as well.

Even though in recent times it has taken a backseat to bigger cryptocurrencies like bitcoin as well as ether, its comeback from such a Reddit community entitled SatoshiStreetBets over the last few days has been due to passion. SatoshiStreetBets aims to pump up cryptocurrencies, like the group WallStreetBets, which was behind the GameStop rally.

Dogecoin is a cryptocurrency established back in 2013 by Australian businessman Jackson Palmer and Billy Markus, a software developer. It was supposed to just be a joke of the recent alternate coins, or “altcoins,” which was at the time were flooding the room. Dogecoin has a record of insane price fluctuations which are predominantly propelled by its prominence as just a humorous cryptocurrency. In the past, without any justification at all, TikTok challenges including popular celebrity appearances also added to its rise in prices, or other days, cryptocurrencies spikes.

DogeCoin

At the time, bitcoin had become more mainstream and other cryptocurrencies were being created. As of now, there are almost more than 4000 cryptocurrencies out there. As the hype surrounds one or another coin, they can spike in value (then crash). This is a way to pump and dump which is designed to artificially and temporarily inflate the value of DogeCoin. At this very moment, buying DogeCoin is a huge gamble, and definitely not an investment.

Thursday morning, 1 DogeCoin was valued at $0.05 but by this morning, its value is $0.07. Its total market cap was 8.2 billion dollars, making it the 9th largest cryptocurrency.

On Thursday, one post said the “crypto GME” was Doge. GME is GameStop’s portfolio ticker. This currency has been around since 2013, featuring a Shiba Inu dog on its coin.

It is surging as Reddit traders plummeting the cryptocurrency which started as MEME. The crypto-currency was never $1. Everything was priced around $0.000232 during 2013 when it started.

There’s been some significant fall in the market in the past several hours while the value of dogecoin surged. On the platform, Reddit users encourage folks not to sell but to “continue to push.”In order to buy these again at a cheaper price so that they too can accumulate the benefit, short-sellers borrow shares to sell them. There is no such shorting process at stake for dogecoin through hedge funds. Alternatively, a number of individuals appear to be simply striving to move the cryptocurrency further in order to get more money.

This is a subtle reminder to comprehend what is happening in the market, so one knows how tricked or trucked markets are!

Also read: How does Blockchain Investments Firm offer higher return per fiat currency?

Ethereum crosses and conquers $2k!

The price of ether is soaring with the $2,400 ATH as an irrevocable hard fork hovers. The cryptocurrency market is experiencing innovative all-time highs, and Ether wins hands down. Led by Bitcoin’s (BTC) journey to a new all-time high, and much of the larger cryptocurrency market, Ethereum (ETH) pressed new all-time highs on Wednesday, as the coin’s price soared with the $2,400 range today.

When the blockchain enters block 12,244,000, its Ethereum infrastructure would be revised in a day or so. Given current block size instances, the update is scheduled to arrive on Thursday. As per CoinMarketCap review site data, the cost of Ether hit its peak at $2,397 on various exchanges on Wednesday. Ether’s weekly gain seems to be 22.4% times higher, as well as the currency’s market value has become up 110 % figure that would be much more noteworthy when the cryptocurrency market was a little less unpredictable lately.

This year’s buzz surrounding Ether’s prospective price fluctuations in the short term has risen from fairly optimistic to careful and evaluated. Ethereum conquered a peak of $2,000, while bitcoin struggles to remain above $60,000.The cost of ethereum, the world’s second-largest cryptocurrency, has conquered the $2,000 mark (REUTERS). Bitcoin was steady at $59,303.20 after fluctuating between $58,246.98 and $60,323.16 in the past 24 hours.

As altcoins have most of bitcoin’s ongoing stagnant trade, the cost of the second-largest cryptocurrency, ethereum, reclaimed the $2,000 mark. Altcoins are a try-and-hit concept for cryptocurrencies that developed after bitcoin. The Defi tokens, which have captured the spotlight after non-fungible tokens (NFTs) grew significantly over the past months, are its biggest movers amongst altcoins. It is the forecast that significant hedge funds will start to invest in bitcoins in 2020. It was followed shortly by other institutions, and icons like Elon Musk, who started taking bitcoin seriously. Bitcoin is now solidifying and all attention has been on its supremacy. If bitcoin’s influence drops, a new altcoin era may begin, with a major exchange.

“We hope bitcoin retains its recent degree of stability so the altcoin exchanges can level up,” said WazirX co-founder – Siddharth Menon. As per CoinGecko, at 1:32 PM IST, the value of ETH is $2114.Ethereum promises to be on the threshold of validating its recent all-time peak in a few hours. “Even if the spike seems bullish, there will have to set a new all-time milestone until any real impact can be projected. “Even so, in the next 24hrs, the $2,000 threshold must be closely monitored to see if this recent breakthrough has longevity,” says a global cryptocurrency exchange as per Coin Press Sources. Throughout March, the digital currency has had the sixth month of huge returns. It is a wait-and-watch game to see how the market takes a positive turn and yields returns.

Facebook Plans To Rebrand Itself With A New Name Next Week

Social media giant Facebook is rolling towards a new name to reflect its focus on building the metaverse. The company CEO Mark Zuckerberg wants to focus on building a metaverse and will reveal the new name at the company’s annual Connect conference on October 28th, the Verge reported on Tuesday, but when asked about the confirmation, Facebook said it does not comment on rumours or speculations.

The company might reveal the new name earlier and it will act as a medium where the Menlo Park, California-based firm seeks to be known for more than social media and the scrutiny associated with it. The rebrand would likely position the blue Facebook app as a separate product under a parent company just like Instagram, WhatsApp, Oculus, and more. However, the company spokesperson declined to comment on the story.

Earlier this week, the company announced its plans to create 10,000 new high-skilled positions in the European Union over the next five years to build a so-called metaverse. Also, in the month of July the Facebook CEO stated, “we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company” while talking about building consumer hardware like AR glasses.

What is Metaverse?

The term “Metaverse” was first coined in Snow Crash, a 1992 sci-fi novel by Neal Stephenson. The word is made up of the prefix meta – meaning beyond and the stem verse – a back-formation from the universe and is typically used to describe the concept of a virtual reality version of the internet that Facebook sees as the future.

Metaverse represents a collection of shared online worlds in which people can hang out with friends, colleagues, can visit places, can buy goods and services, and even attend events by converging physically with Augmented Reality, and Virtual Reality. Facebook has already invested heavily in virtual reality and augmented reality and plans to invest $50 million to partner with organizations to responsibly build the metaverse.

The possible new name

Facebook isn’t the first tech company to change its company name, in 2015, Google reorganized entirely under a holding company called Alphabet, to show the world they are not just limited to the search engine. A new possible name could have something on the similar lines with Horizon, a VR gaming platform which rebranded itself to “Horizon Worlds”. The new name will not affect the current products and will continue to act as an umbrella of all brands.

What are the different Wallet Technologies In Crypto?

For example, tokens stored in a crypto wallet can represent concert or plane tickets, unique works of art, goods in the supply chain, or anything else with digital value. In paper form, paper wallets are an insecure solution for an encrypted external storage device (hardware wallet) stored on the device of the user. The software has additional features such as an interface to send transactions on blockchain and software wallets. Software wallets are software features that can create a new private key pair / public key pair for an account at the push of a button, enabling secure storage.

If you want to use Bitcoin or any other cryptocurrency, you need a digital wallet. A cryptocurrency wallet is a software program that stores public and private keys, interacts with various blockchains, and allows users to send and receive digital currencies and monitor their balances. Ethereum blockchain for example is one of the most widely used wallet software programs called MetaMask, which can be installed as a simple browser extension.

A cryptocurrency wallet is a software that stores secret keys that are used to sign cryptocurrency transactions on a distributed register. It is a software program that stores your public and private keys and interfaces to various blockchains to allow users to monitor their accounts, send money and perform other operations. Millions of people use wallets containing cryptocurrencies, but there is a considerable misunderstanding of how they work.

A crypto wallet or digital wallet stores not only the encryption keys used to digitally sign transactions, but also the address on the blockchain in which a particular asset is located. If the owner loses that address, they lose control of their digital money and other assets, said David Huseby, a security maven with the Linux Foundation and the Hyperledger Project. Since the secret key used to sign cryptocurrency transactions on a distributed registry is the only way to prove ownership of a digital asset, to execute, transfer and in any way modify transactions, a cryptocurrency bag is a crucial part of the crypto-ecosystem.

A crypto wallet stores a private key that gives access to users to their cryptocurrencies and allows them to send and receive cryptocurrencies such as Bitcoin and Ethereum. It should be noted that your coins are stored on a blockchain and that a private key is required to authorize the transfer of your coins to another person. Different types of crypto wallets meet different security, reliability, and accessibility requirements.

Your coins are stored on the Bitcoin blockchain and your private key is required to authorize the transfer of your coins to another person. A crypto wallet interacts with the blockchain to allow users to send and receive currencies. If a crypto wallet is on the blockchain and works to carry out transactions, it is called a blockchain wallet.

In other words, a wallet consists of digital software that stores your cryptocurrencies. A wallet not only allows you to store your cryptocurrencies but also to send and receive them. The wallets are based on blockchain technology, which allows virtual currencies to be stored.

Key Takeaways Blockchain Wallets are digital wallets that allow users to store, manage and trade their cryptocurrencies. A blockchain wallet is a digital wallet that allows users to securely store and manage their Bitcoin, Ethereum, and other cryptocurrencies. Blockchain wallets also enable the transfer of cryptocurrencies and the ability to convert them into users “local currency.

Bitcoin (BTC) is a digital currency stored in an electronic wallet that can only be accessed with your private key. Blockchain wallets provide a blockchain e-wallet that allows individuals to store and transfer cryptocurrencies. A blockchain is a growing group of data sets known as blocks that are linked by cryptology.

Blockchain wallets provide all the functionality needed for the secure transfer and exchange of money between different parties. Wallets are accessible from any web device, including mobile, and the privacy and identity of the user are respected. A wallet app uses private keys to sign outgoing transactions, and you create a wallet address that you can use as a private key.

A hardware wallet consists of a type of security chip that makes it impossible for you to enter keys into the computer without your permission. If they can be removed from the Internet, they are considered to be one of the safest. Desktop wallets are more secure than Web and Mobile wallets because they do not rely on third parties and their data is harder to steal.

When a user purchases a cryptocurrency such as Bitcoin, he stores it in a cryptocurrency bag and uses it for transactions. With conventional currencies, you don’t need a wallet to spend your money, but it helps to keep everything in one place. A wallet is essential because without it you have to carry out operations and transactions on your smartphone.

A crypto wallet is assigned a specific address and a private key is associated with it. When a person sends you a Bitcoin or other type of digital currency, they sign the ownership of the coins in your wallet to us. To give the coins and unlock the money, the private key in the wallet must match the public address to which the currency is assigned.

When a user wants to send money to your wallet, he or she issues a public key containing information about your wallet address. An exchange occurs when the private key associated with the address of your wallet matches the public key issued by other users. For example, a paper-printable Bitcoin wallet consists of a Bitcoin address that receives the corresponding private key to spend.

A cryptocurrency wallet is a device or physical medium that is programmed or maintained to store public and private keys for cryptocurrency transactions. Bitcoin is the first and most widely used digital cryptocurrency based on blockchain technology. In addition to the actual Bitcoin transactions, there are also web-based cryptocurrency exchanges and hardware cryptocurrency wallets.

In the case of blockchain wallets, users can manage their funds with various cryptocurrencies such as the popular Bitcoin, Ether, Stellar, Tether, Paxos, and Standard. Blockchain wallets charge dynamic fees, meaning transaction fees can vary depending on factors such as transaction size. The signature is, for example, the result of the execution of a smart contract or cryptocurrency transaction

How are PayPal and Crypto Connected?

PayPal revealed that positive influential cryptocurrencies, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, could be purchased, sold, and maintained by users via Paypal.com. People will be able to purchase and handle their cryptocurrency in one location via its website. Like that of an emerging means of exchange, cryptocurrency is rapidly received increasing attention globally since its launch in 2009.

Cryptocurrencies, partially due to the quick shift in prices they can encounter in comparison to standard government currencies, always been a niche payment process. PayPal said it intended to improve consumer understanding and acceptance of cryptocurrency.

Cryptocurrency Revolutionizing Business

Cryptocurrencies, that have the power to transform the mechanism of peer-to-peer and remittance transactions, are benefiting substantially from a decentralized framework, low fees, distributed ledger technology transparency, user prorated refund security, and rapid international transfers. In reality, as a result of the ongoing pandemic, its increasing market of alternative currencies continues another sharp turn. Several of these factors are fueling the growth of the global in cryptocurrency transactions (mainly Bitcoin and Ethereum).

The unpredictable prices of cryptocurrencies – along with their widespread use with a less traceable form of payment for malicious activities – have resulted in multiple calls to monitor them.

The New York State Department of Financial Services granted PayPal approval for its operation in the form of a conditional “Bitlicence” – the first such license granted.

The transition to digital currency platforms is imminent, helping to bring with all of it digital natives in terms of economic access and availability; the transaction platform’s functionality, speed and resilience; and the willingness for governments to easily release funds to people,’ said Dan Schulman, PayPal’s president, and CEO.

Development of Cryptocurrency Acceptance and Knowledge

The company is launching the option to acquire, keep and sell select cryptocurrencies, initially featuring Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, directly inside the PayPal digital wallet, to improve customer awareness and appreciation of cryptocurrencies.

This service is also available in the USA for PayPal account holders. During the first half of 2021, the company aims to extend Venmo’s features and select foreign markets. Via a collaboration with Paxos Trust Company, a controlled provider of cryptocurrency products and services, the service is allowed in the U.S. PayPal was also given a first-of-its-kind conditional Bitlicense by the NYDFS – New York State Department of Financial Services.

As part of this service, PayPal would provide educational materials to accounting professionals to help them learn the cryptocurrency ecosystem, its threats, and opportunities associated with investing in cryptocurrencies, and blockchain technology information. There are no service fees while buying or selling cryptocurrency by December 31, 2020, or there are no cryptocurrency ownership fees in a PayPal account.

It’s nice and a convenient procedure, but before implementing any impulsive decisions, PayPal recommends paying just a dollar to experiment around with it. Though it might not be the most viable way of expanding your holdings, the growth of PayPal into the crypto market is a perfect way to step into the cryptocurrency world for the everyday person.

Also read: What is the journey from paper currency system to digital currency system ?

OnePlus unveiled Harry Potter themed Limited Edition Watch in India

Harry Potter film series was everyone’s favourite, and it’s been over a decade since its last release, but the series hasn’t lost its spark. The Harry Potter film series is celebrating its twentieth anniversary this year. To make this memorable for all the fans, Chinese mobile manufacturer, OnePlus has launched the Harry Potter themed limited edition OnePlus Watch.

The Hogwarts-themed special edition watch was launched today in India at an affordable price of Rs. 16,999 with early access sales starting on October 20. The special edition watch is equipped with Harry Potter-themed watch faces and features a circular display. Once you switch on the watch, the iconic Harry Potter logo will appear on the screen.

OnePlus Harry Potter Limited Edition watch comes with a circular 1.39-inch AMOLED display, proprietary OS, connectivity options with other devices such as smartphones and OnePlus TV, always-on display, remote control camera function and two weeks rated battery life. The special edition OnePlus Watch is identical to the original OnePlus Watch, which was announced earlier this year.

The watch has a copper colour design, and the strap is made from vegan leather embellished with Harry Potter branding. The watch also features software tweaks that include six themed watch faces for all four Hogwarts houses – Gryffindor, Hufflepuff, Slytherin and Ravenclaw. The case of the Limited Edition watch is said to be corrosion-resistant, and it arrives with Harry’s iconic lightning bolt engraved on it.

The OnePlus watch features Bluetooth v5 connectivity and an IP68 rating along with 5ATM water resistance and comes with more than 110 exercise modes. It also offers health-related features such as tracking footsteps, real-time SpO2 levels, heart rate, stress, and breathing. The watch will be available for sale on OnePlus.in, OnePlus Store app and offline OnePlus Experience stores across the country.

Everything you need To Know about Justin Sun!

Justin Sun, 1990 born, is the Founder and CEO of TRON Foundation, the brain behind TRON Blockchain, and CEO of Bittorent. He was also featured in Forbes Asia 30 under 30!

Justin Sun created Peiwo, an app that matches and links users by analyzing 10-second speech samples and preferences, striving to be China’s Snapchat. Peiwo also made several sites, with digital sports, game shows, and video broadcasts, for developers to share with like-minded peers. To present, over 4 billion chats have reached it. Justin Sun is intimidating and powerful in the Blockchain world.

Justin Sun is the CEO of BitTorrent, founder of TRON Foundation, and Peiwo app. TRON is one of the most popular blockchains in the world. Peiwo was one of the largest voice live streaming apps in China. Justin was named Forbes’ 30 under 30 Asia in 2017 and Forbes’ 30 under 30 China from 2015 to 2017. He is the only millennial graduate from Human University and a protégé of Chinese tycoon Jack Ma, Chairman of the Alibaba Group. Justin obtained a Masters’s Degree from the University of Pennsylvania after he received a Bachelor’s from Peking University.

In 2017, in addition to creating a protocol that can “decentralize the internet” and allow decentralized applications, Sun developed the Tron Foundation in Singapore. In 2018, it transitioned to its blockchain, beginning with Ethereum. Sun has now specifically placed Tron as an Ethereum rival. Sun and the Tron Foundation were charged with plagiarizing other Tron press release initiatives and failure to accurately attribute code in the code repository of the project in 2018, but Sun has denied the charges.

Tronix, often classified as Tron or TRX token, is launched by Sun in 2017. As per data source CoinMarketCap.com, it’s valued at $2.56 billion and is the world’s 10th largest cryptocurrency. The Chinese businessman said he believes to empower Omaha’s Oracle on cryptocurrency and blockchain-called theoretical underpinnings. The Twitter account of Sun has about 737,000 followers, just a bit less than Vitalik Buterin, founder of Ethereum and crypto wizard, with 832,000 followers.

While intensely into crypto, Sun said he trades conventional stocks and checks yearly tech company reports. Justin Sun was identified as the person putting the $4,567,888 career-high offer to get a private lunch with Warren Buffett, CEO of Berkshire Hathaway. Mr.Sun considers himself to be a celebrity and knows he is not just famous but also a lot powerful. He was born poor, hence the constant need to prove him. He has a very strong work ethic, with extreme focus, which he intends to apply to his company. Mr. Sun completely controls TRON’s public image. His style of leadership has believed to cause chaos and attention too.

Today TRON ranks amongst the Top 20 crypto projects by Market Cap. Justin Sun is extremely ambitious when it comes to TRON, it’s a wait-and-watch game how true and beneficial it will be in coming years in Crypto Revolution.

Also read: How are Utility Tokens different from Security Tokens?

Do you know Stablecoins come with drawbacks?

Although bitcoin remains the most common cryptocurrency, the market values usually suffer from high volatility. For starters, it increased from about $5,950 in November last year to more than $19,700 in December but then declined by around two-thirds to $6,900 by the beginning of February. Its equity market price swings can be wild; it is normal to see the cryptocurrency jump more than 10% in either trajectory within a few hours. This kind of quick instability makes bitcoin and other common cryptocurrencies ineffective for community use and frequently. Currency should serve as a means of money transfer and a way of preserving financial value, as well as its worth should remain remarkably stable over long periods.

Here comes in the picture a Stablecoin, a new class of cryptocurrencies that try to deliver stable prices and are backed by a reserve asset. Stablecoins have attracted attention as they aim to deliver the perfect blend of instant processing and safety or privacy of cryptocurrency payments, as well as the unpredictable stable value of fiat currencies. The value for Stablecoins was more than $10 billion by May 2020. In countries like Brazil, many people have turned to stablecoins as a substitute for their national currencies under unstable economic conditions. Additionally, in Hong Kong, some people are using stablecoins to escape new regulations of the Internet in a volatile market process.

Stablecoins are cryptocurrencies that aim to link their market value to some external reference.
Stablecoins may be linked to a currency like the US dollar or to a commodity price such as gold.
Stablecoins gain their stable prices via collateralization (financing) or by algorithmic purchase and sale techniques for the relative asset or its derivatives.

There’s an even more complex form of stablecoin that is supported by other cryptocurrencies rather than fiat and still structured to monitor financial assets like the dollar. Maker, the most popular stablecoin issuer that utilizes such a process, actually achieves this with the support of Collateralized Debt Positions (CDPs) that encrypt the user’s cryptocurrency collateral. Then, if the smart contract knows the collateral is secured, a consumer will use it to lend a newly minted dai, the stablecoin.

Most Popular Stablecoins include Tether, USD Coin, Dai, and Diem.

Drawbacks:

There are still some disadvantages for stablecoins to concede. Due to the obvious measured way wherein stablecoins are usually set up, they have unique technical challenges than other cryptocurrencies. Crypto’s publication Capital, for comparison purposes, suggests that although stablecoins are labeled “stable,” they are just as stable as commodities that stablecoin is related to. Historically, the price of the dollar is quite steady, but if it were to change, any variations only in the dollar’s value will be depicted in the stablecoin.

Needs rapid expansion, otherwise, it wouldn’t be able to sustain its peg
Peg’s weakness in booms and busts and sudden glitches: if market pressure is sustained for the long term, market value can plummet far beyond what the machine could bear, triggering a terminal decline.
Compared to hedge funds: reduced coin values are bolstered by the expectation of future progress, however, this progress should be financed by entrants who invest in the system.

Nobody can claim to foresee the outcome of cryptocurrencies, however, what seems evident would be that stablecoins are indeed a positive move – another leap to an economy in which a country’s influence on money is disrupted by open markets via healthy competition.

Also, read:-How are Utility Tokens different from Security Tokens?