Connect with us

Altcoins

7 Altcoins You Should Be Aware Of

Published

on

Altcoins You Should Be Aware Of

The word altcoin describes every cryptocurrency that is not bitcoin. Altcoins are referred to as bitcoin alternatives because, at least to some extent, most altcoins aim to either replace or improve upon at least one bitcoin component. There are hundreds of altcoins (CoinMarketCap lists over 700 at the time this guide was written), and more appear each month. Most altcoins are little more than bitcoin clones, changing only minor characteristics such as its transactions speed, distribution method, or hashing algorithm. Most of these coins do not survive for very long. In this post, however, you will be introduced to seven altcoins you should be aware of as they have the potential to turn into major global cryptocurrencies.

Ethereum

What is EthereumEthereum is a blockchain-based platform that lets anyone build and use decentralized applications that run on blockchain technology. Unlike the Bitcoin protocol, Ethereum was designed to be adaptable and flexible. It is easy to create new applications on the Ethereum platform, and with the Homestead release, it is now safe for anyone to use those applications. Rather than give users a set of pre-defined operations (e.g. bitcoin transactions), Ethereum allows users to create their own operations of any complexity they wish as it is a programmable blockchain in the form of so-called “smart contracts”. In this way, it serves as a platform for many different types of decentralized blockchain applications. Ethereum’s cryptocurrency is called ether (ETH).

Steem

opportunity for African writersSteemIt is a social media platform where users get paid to post information online. It is powered by blockchain technology and rewards users that upload articles, images, commentary, and blogs while paying users for sourcing and up-voting popular content. The earlier a person up-votes a post that becomes popular, the more they are rewarded. Users are paid half in “Steem Power,” a vesting currency that supercharges voting power, and half with Steem Dollars (SBD), which can be exchanged for USD. SteemIt, therefore, creates a great opportunity for African writers to monetize their content.

Siacoin

SiacoinSia is a totally new approach to cloud storage platforms where you put data into cloud and still retain control. The token used in the smart contracts to pay the host is what is called the siacoin.  Both the host and the renter put siacons into the contract once the file is created.  The only time the host gets siacoins is if they have the data at the expiry of the contract. If you decide to put up your data on cloud, it is usually one company that will have control of all your data such as Dropbox. In the case of Sia, you are still able to have control over your own data. When you upload a file to Sia, it is encrypted and then uploaded to many hosts, of which none of these hosts can manipulate your data, tamper with your privacy, or hinder you from accessing your data at any given time. The smart contract protects renters by ensuring that no payment is made to the host until the renter’s data is stored.

Monero

MoneroMonero (XMR) is an open source secure, private and untraceable cryptocurrency created in April 2014. Unlike many cryptocurrencies that are derivatives of bitcoin, monero is based on the CryptoNote protocol and possesses significant algorithmic differences relating to blockchain infrastructure. With Monero, you are your own anonymous bank. Only you control and are responsible for your funds, and your accounts and transactions are kept private from prying eyes. Monero has become a very popular currency used in the dark web in the last 12 months.

Lisk

Link

 

Lisk is a blockchain application and sidechain platform that provides a full stack solution for the most widespread programming language in the world – JavaScript. Creating one of the best cryptocurrency user experiences with its easily controllable user interface and its integrated App Directory, Lisk is aiming to become the standard for blockchain apps and custom blockchains developed in JavaScript. Lisk (LSK) aims to be the first (successful) of its kind as a modular cryptocurrency. The idea is that every blockchain app is on its own sidechain, separate from the main blockchain. This should help with scalability issues that many cryptocurrencies are facing, such as bitcoin.

HEAT

HEAT

H.E.A.T. Ledger is an acronym for Heuristically Enhanced Asynchronous Transactions Ledger.  It is completely a new way of structuring cryptocurrency and a peer-to-peer decentralized asset ledger. It is optimized for speed and architected in enterprise friendly Java for custom private chains, HEAT slices the currently used blockchain database technology to modular components and provides flexible scalable server-side technology for corporate needs of any size.

The ledger is built on Java and based on NXT, HEAT is capable of handling over 1000 transactions per second while supporting “unlimited scaling.” A press release for the project stated that 20 second or lower blocks generation times, combined with both Proof of Stake and Proof of Work, are what make HEAT so fast.

DASH

DASHDash (which stands for ‘digital cash’) is an open source and privacy-centric digital currency that offers instant transactions. It allows you to keep your finances private as you make transactions without having to wait for your transaction to complete. The other advantage is that the transaction fees are much lower than banks or credit cards and are often even free. Payments are received instantly by the other party thanks to InstantX and the cryptocurrency uses a decentralized network, so no centralized third party to trust. Advanced encryption and a 2-tier network are implemented for complete security and it allows you t send money to anywhere in the world.

Terra
Continue Reading

Altcoins

Brave Rewards: How to Earn BAT Using the Brave Browser

Published

on

Brave Rewards

Chances are you are using an ad blocker on your browser because you find ads intrusive. But did you know there is a free browser that comes with built-in ad and tracking blockers? In this guide, you will learn about the Brave browser and how you can earn Brave Rewards.

What is Brave?

earn bat

Brave Software introduced the first version of Brave in 2016, a web browser that blocks ads and website tracking while allowing users to tip content creators with Brave Rewards.

Advertising websites target the data of users, therefore, infringing on their privacy. Brave is mitigating this issue by offering privacy protection. As a user of Brave, you have the power to choose whether you want to view ads or not. You can earn Brave Rewards by opting into ads that respect user privacy.

Content creators that publish on other browsers like Google Chrome depend on advertisements to make money. However, on Brave, you can tip content creators and support them for their contributions directly.

Here is how Brave stands out:

  • You can turn Brave Rewards and ads on or off
  • Brave ads do not retrieve your personal data
  • Brave picks ads that are suitable for you
  • When you view an ad on Brave, you get 70 percent of what the advertiser paid
  • Ads on Brave appear like system notifications and are, therefore, not intrusive
  • Since brave blocks harmful ads and trackers, you will experience faster browsing

At the end of November 2019, Brave hit more than ten million active monthly users after the release of Brave version 1.0. Like Google Chrome, Brave is based on Chromium, Google’s open-source software project.

How to Start Earning BAT

Basic Attention Token (BAT), the digital currency used on Brave, is based on the Ethereum blockchain. To start earning BAT, follow these steps:

  • Visit the Brave website and click “Download.”
  • Choose the download version that suits your operating system. Brave is compatible with Windows, macOS, and Linux. You can also access the Brave apps for Android or iOS on the same page.
  • Open the application and click “Run.”
  • After a second or two, the application will start downloading.
  • Once the download process is complete, the installation process will begin.
  • When your browser has installed, you can now launch it.
  • Go to the main menu and click “Brave Rewards” then the “Rewards Icon.” Next, click on “Rewards Settings” to enable Brave Rewards.
  • On this page, turn on Brave Rewards and ads.

You can now start surfing the internet and viewing ad notifications as they come. Note that you will receive BAT for viewing the ads not for clicking them. Brave sends an alert on or before the fifth of each month allowing you to claim the Brave Rewards you have earned from viewing ads.

Furthermore, you can choose to hold or tip content creators with your Brave Rewards. To view the BAT you have earned, go to the “Rewards Icon” on the main menu and then click the “Rewards Panel” which will appear on the right-hand side of the address bar.

Brave allows users to transfer their BAT to another wallet where they can convert it to other digital currencies or to fiat and have it transferred to their bank accounts. To do this, you have to link your Brave wallet to your Uphold account.

Besides using the Brave browser, you can also earn a small amount of BAT for participating in the Coinbase Earn Program. The program rewards you in BAT for learning about Brave and BAT.

Terra
Continue Reading

Altcoins

Scam Alert! Scammers in Kenya are Now Using Facebook’s Libra to Defraud Crypto Users

Published

on

Libra Kenya

Scammers in Kenya are now using Libra to make quick gains from unsuspecting victims through a company called Calibra Kenya.

According to its website, the “company” is promising to increase investors’ money three-fold within six months if they invest amounts from KES 20,000 to KES 950,000. The deadline for this “investment deal” (read scam) is November 31, 2019.

Facebook’s Libra is yet to Launch

Bitcoin Scam“Calibra Kenya” is cashing in on Facebook’s Libra, a cryptocurrency that is not yet rolled-out. Calibra Kenya told Gadgets Africa that they are waiting for the Libra launch in January 2020 for investment to begin. However, it is currently unclear when Libra will launch. Facebook had originally announced 2020 as the launch date but the company has said that it will only launch until it has sorted out regulators’ concerns.

Since Facebook announced the cryptocurrency in June, the embattled crypto project has lost a quarter of its members while Mark Zuckerberg is set to testify before the US House Committee on Financial Services today.

The Kenyan “company” has borrowed the name from Libra’s digital wallet, Calibra.

Scammers That Are Also Self-Proclaimed Philanthropists

“Sir John,” a Twitter account holder promoting Calibra Kenya, claims he is a philanthropist. This is similar to a scam story BitcoinAfrica.io recently covered where the alleged swindler was a self-proclaimed philanthropist on LinkedIn. The aforementioned Twitter account also belongs to the Libra Cryptocurrency Association Kenya.

While scamming and philanthropy have nothing in common, it appears that scammers could have found a way to entice their victims in the name of social good.

Moreover, the fact that Sir John claims he is a nature-lover and a passionate entrepreneur and investor in the fintech industry goes to show how far scammers will go to appear legit.

Spotting the Red Flags

It might be obvious to most that Calibra Kenya is a scam but to some, this might not be the case. Therefore, here is a list of what is wrong with this “investment opportunity”:

  • Libra has not yet launched. Anyone asking you to invest in a currency that does not exist is a fraud.
  • Any individual or company that is promising a 50 percent return every month on investments is a scammer. Such high returns are unrealistic. Additionally, in a volatile market, returns cannot remain constant and are bound to fluctuate from month to month.
  • Facebook’s Libra only has one association, the Libra Association, which currently has 21 members. These members are well-known international companies like Uber, Spotify, Vodafone, Mercy Corps, Xapo Holdings, PayU, and Coinbase. Libra Cryptocurrency Association Kenya and Calibra Kenya, therefore, have nothing to do with the real Libra Association.
  • Should you consider a website with grammatical errors suspicious? Yes, you should! Calibra Kenya’s website is guilty in this regard.
  • According to Calibra Kenya, investors will get their money back at the end of the contract. This is a cause for alarm as any legit investment platform should allow investors to withdraw their investment plus returns at any time.
  • On their website, Calibra Kenya throws around crypto and blockchain-related terminologies to confuse and mislead their readers. For instance, they claim that they create smart contracts, that they are the official Libra cryptocurrency exchange in Kenya, and that they are a tier two member of the Libra Association. This does not make any sense and is only meant to confuse readers.
  • The website contains a lot of payment information which is another red flag. It indicates they are only focused on making money.
  • Their website is too “salesy.” Words like “investment opportunity,” “invest now,” and “we make your dreams a reality” are obvious red flags.
  • Calibra Kenya does not provide a platform for investors to track their investments. That means that once you send them money, you have no way of finding out how your investment is performing. The only mode of contact is a phone number that they could easily disconnect.

Unfortunately, reports of crypto-related scams are increasing as major developments take place in the industry. Similar fraudulent websites also appeared during Telegram’s token sale, for example.

Terra
Continue Reading

Altcoins

Particl Launches Decentralised Marketplace With Zero Commission Fees

Published

on

decentralised marketplace

Privacy-focused cryptocurrency project Particl has launched a decentralised marketplace with zero commission fees. The new e-commerce platform is leveraging blockchain technology to compete with the likes of Amazon and OpenBazaar.

Privacy and Zero Commission Fees

ParticlCryptocurrencies can be difficult to spend on a day-to-day basis and Particl wants to solve this through its private coin, PART. On the Particl marketplace, users can put the digital currency to use.

The new decentralised marketplace respects user privacy and does not require personal information from its users. The platform only requires a shipping address. Moreover, the decentralised nature of the Particl marketplace ensures that no commissions are added to sales as is the case on Amazon.

According to an article on Big Commerce, fees for sellers can be as much as 45 percent of a product’s cost on Amazon. Particl’s zero-free model, therefore, enables sellers to significantly increase their revenue and lower their prices to stay ahead of the competition while still making a profit.

“Using a combination of P2P and blockchain technologies, Particl Open Marketplace can provide a verifiable private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with. The Particl protocol also brings the cost of buying and selling online to the bare minimum as no central entity can charge fees,” said Particl’s Project Marketing and Strategy Manager Paul Schmitzer.

How Particl’s Decentralised Marketplace Works

Particl is uniquely approaching fraud and trade insurance through the use of a double deposit escrow system without intermediaries and with zero fees. This system is based on MAD game theory where two parties deposit PART coins as collateral into a smart contract. Once the transaction between them is complete, the coins are released back to the parties and no fees are charged. This system allows users to be in control of their transactions and to eliminate fraud.

 

Since the marketplace is decentralised, the protocol generates all listing fees and redistributes them to the global network of users.

Particl is made up of three components: an untraceable multi-purpose privacy coin, a private decentralised marketplace where users can shop with cryptocurrencies, and a platform where developers can build decentralised applications.

Particl allows a wide range of cryptocurrencies and uses atomic swaps and third-party integrations to convert these coins to PART during transactions. The company will soon add more payment options to its marketplace.

In 2018, Bitcoin Africa talked to Particl’s spokesperson Desi-Rae about the project. Read the full interview here.

Terra
Continue Reading

Popular Posts