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Invest in Africa’s Billion Dollar Next Generation Wireless 4G Internet Technology

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Cajutel launches ICO

Swiss-owned telecom startup Cajutel has launched its initial coin offering (ICO) as it seeks to provide countrywide access to Internet services in Guinea-Bissau and neighbouring West African countries.

The project is being led by CEO Andreas Fink, who has worked in the telecom industry for over two decades in countries such as Iceland, Switzerland, Guinea-Bissau, and Guinea. His vision for Cajutel is to digitally transform West Africa by connecting people to high-speed, reliable and affordable Internet.

Empowering West Africa Through High-Quality Internet

Presently, there are few mobile network operators in Guinea-Bissau that offer low-quality Internet and usually at a high cost. Some parts of the country even lack the basic amenities of living and technology. This is a result of years of under-investment in infrastructure and technology, and poor strategic planning. This has made it difficult for people to connect with others. Hence, there is a pressing need for telcos to bridge the gap between local communities and the outside world.

Cajutel looks to solve this by building the infrastructure that will support more than 1.7 million customers in remote areas with the solar-powered high-speed Internet. According to the project’s whitepaper, the company requires an investment of $30 million to establish itself in Guinea-Bissau and Guinea. An alternative would be a minimum of $12 million to slowly build its presence in Guinea-Bissau.

For more information on Cajutel and its mission, watch the recent interview with CEO Andreas Fink.

How to Participate in the Cajutel ICO

An initial coin offering (ICO) is a new method of fundraising that involves the sale of digital tokens in exchange for other cryptocurrencies such as bitcoin (BTC) or ether (ETH). This allows innovative new startup projects to raise funds from the cryptocurrency community while contributors have the possibility to receive a high return on investment if the project succeeds and the newly issued digital token increases in value.

Investors can participate in the Cajutel ICO by purchasing Cajutel tokens (CAJ). Cajutel tokens (CAJ) are ERC20 tokens that run on the Ethereum blockchain. You can buy CAJ tokens by sending ETH directly to the smart contract wallet address listed on the Cajutel ICO website. Make sure when you send your ether (ETH) that you use an ER20-compatible Ethereum wallet such as the MyEtherWalletThe token sale will be running until November 18, 2017.

For more details on how to contribute to the Cajutel token sale, read the instructions here.

Token Sale Details

The token sale, which commenced on August 18, 2017, will be held in five stages. The first two stages will offer 10,000 tokens each for sale with the prices set at 0.05 ETH and 0.075 ETH respectively. The next three phases will offer 100,000, 200,000 and 400,000 tokens for sale at 0.10 ETH, 0.15 ETH and lastly 0.20 ETH.

As part of the ICO process, the company had authorised the sale of 720,000 tokens to ICO participants, out of the 780,000 newly created tokens. The rest of the 60,000 will be used on bounties and to cover advertising expenses.

The maximum limit on CAJ tokens has been set on 1,780,000 tokens with 1,000,000 being retained by the company. Each CAJ token will represent one share in the company and will also act as share certificates conferring the same rights as any stock to the owner including dividends. This means the value of a CAJ token is tied to Cajutel’s underlying assets and earnings.

Cajutel

Cajuel plans to use the ICO funds to set up the initial network and cover operating losses for the first year until the point it can generate enough revenue to offset its expenses. Also, installed network capacity in the region is low and cannot match the high number of customers. Therefore, the central exchange can’t bear the burden of numerous phone devices resulting in poor transmission and network inefficiency. This means Cajutel will be quick to respond to changes in the market due to a lean operating model giving it a competitive edge over large telcos who are encumbered by slow processes.

Cajutel has the potential to transform Africa’s telecom landscape, especially through strategic partnerships with other telcos, computer vendors, kiosks just to name a few. Investors have a chance to part of a truly revolutionary idea.

If you want to partake in Cajutel’s ICO and become a token holder, you can contribute to the Cajutel ICO here.

“This is a sponsored post. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. Bitcoin Africa Ltd. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in the sponsored post.”

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UMI Blockchain Ecosystem: Instant Transfers, Smart Contracts, and Profitable Staking

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UMI Blockchain

The number of issued cryptocurrencies and digital tokens has exceeded 7,000, and in this ocean of crypto projects, it is difficult for investors to recognize promising services at an early stage of development. However, at the same time, investments at this stage maximize the profits.

UMI is one of the young projects created at the crossroad of DeFi and digital assets trends, which draws attention not only by its unique functionality but also by its future plans.

UMI is a universal monetary instrument that allows users to make instant, secure, and free financial transfers, as well as earn crypto through profitable staking. In addition, UMI is a full-fledged blockchain platform capable of executing smart contracts of any complexity.

Let’s take a closer look at UMI capabilities.

Transactions

The UMI network can execute approximately 4500 transactions per second. This significantly exceeds the capacity of most other blockchains, including fundamental ones like Bitcoin or Ethereum.

The UMI Mainnet was launched in the summer of 2020 and it’s continuously improving. In the future, the UMI team will roll out an update that will increase enough high capacity to execute 10,000 transactions per second. This brings the UMI platform closer to the transactional conductance of major payment systems such as VISA and MasterCard. The UMI developers also have a long-term goal – to achieve the capacity of 1 million transactions per second. Although this sounds too ambitious, there is a chance to reach it in the long run, and here is why.

First, the UMI network operates on an improved version of the Proof-of-Authority consensus (PoA consensus characteristics will be discussed in detail later in the article). Secondly, such scaling can be achieved through the optimization of programming languages ​​and smart contracts, as well as with such tools as Kubernetes. Finally, upgrades of the UMI network can be carried out faster and with less effort with the planned changes in the internal architecture of the ecosystem.

Another planned function of the UMI ecosystem payment service also appears to be very promising: offline transactions. Other blockchain systems focus on transactions exclusively via the Internet, while in the UMI ecosystem, the procedure of sending transactions can be carried out without access to the World Wide Web using ordinary SMS or other communication methods. For example, the length of a UMI transaction is 150 bytes. That’s 1200 bits of information. The standard length of an SMS is 1120 bits (140 bytes), which means that only 2 SMS are required to send a transfer through the UMI blockchain. This is convenient if the transfer needs to be sent urgently, and the Internet is temporarily not accessible. Technically, the UMI ecosystem is already capable of sending offline transactions without the Internet connection, but the service for initiating transfers has not been launched yet. The UMI team is currently developing it.

Although, the main feature of the UMI blockchain is not the network’s capacity, but the absence of any fees. This has been achieved by the unique technology on which the ecosystem is built, as well as a different economic model in comparison to other popular cryptocurrencies.

Technology

UMI Blockchain Ecosystem

The UMI blockchain is based on Proof-of-Authority technology, a concept created by Ethereum co-founder Gavin Wood.

The difference between PoA and the popular Proof-of-Work algorithms (which Bitcoin runs on) or Proof-of-Stake (Ethereum plans to switch to PoS) is that in the PoA network there is no place for contest between the miners and forgers for the right to generate a block and get a reward. The generation of blocks, and most importantly, their integration into the blockchain, is handled by trusted nodes – ‘master nodes’. In the UMI network, master nodes are large authorized nodes that meet stringent speed requirements. This feature significantly increases the network’s capacity.

However, the original concept of PoA also has its drawbacks. The original PoA model assumes that ordinary users cannot influence the operating mechanics of the system, and only trusted nodes have the right to confirm transactions and record them in the blockchain, and those usually belong to one organization or affiliated companies. These factors increase the risks of network centralization, which deprives the cryptocurrency of its main value – decentralization – and makes it little different from other already existing traditional payment systems. In order to avoid the risk of network centralization, the nodes in the UMI blockchain are divided into two types – ‘master nodes’, that integrate blocks into the blockchain, and ‘validator nodes’ that validate the blocks. Only certain types of nodes can become master nodes – they include nodes launched both by the UMI team and their numerous partners from different countries, while any user can launch a validator node. Validator nodes monitor the work of the master nodes, and if the suspicious actions are detected, the unscrupulous masters are automatically disconnected from the system.

Along with the distribution of power among master nodes and validator nodes, another mechanism that is designed to prevent centralization is planned to be implemented in the UMI system in the future – integration with Proof-of-Stake consensus. The UMI blockchain will continue to operate on the PoA algorithm, but if any problems with the master nodes arise, the system will automatically switch to the reserve PoS consensus. Even if all of the masternodes suddenly stop functioning, the performance of the UMI network and its ability to conduct transactions will not be affected. PoS nodes do not need computing equipment to work, a regular laptop is enough. Any UMI user who has installed a desktop wallet with a validator node will be able to launch a backup PoS node.

Moreover, staking works on a smart contract in the UMI system, which means that the staker does not need to keep the computer on all the time. Thanks to staking on a smart contract, you can generate new UMI coins: up to 40% per month in 24h mode.

With such a profitable economic model, UMI encourages users to actively join the system. This model is one of the features that allows UMI to avoid commissions for transfers staking participants are interested in developing the ecosystem without additional incentives, such as commissions.

Smart Contracts

The UMI blockchain allows you to create many specialized multifunctional smart contracts, including those suitable for integration into e-commerce services or for launching decentralized autonomous organizations (DAOs). These include various decentralized finance (DeFi) services.

Areas of application for the UMI blockchain smart contracts:

  • Decentralized exchanges and applications;
  • DeFi protocols, including Yield Farming and lending;
  • Online stores;
  • Crowdfunding platforms;
  • Gambling sites;
  • Gaming platforms;
  • Cashback and bonus programs;
  • and many other services.

Thanks to its high capacity, the UMI network will ensure the smooth operation of large DeFi projects, decentralized exchanges (DEX) or decentralized applications (DApps), and users will not face unprecedented high transaction fees, as it happened before with the Ethereum network. Thus, the launch of UMI-based DeFi services will not have a negative impact on those who use the system exclusively for money transfers.

Staking in Detail

Currently, UMI coins can be mined in two staking structures (pools) – ROY Club and ISP Club. In order to start mining you need to create a personal wallet in the UMI blockchain and transfer a certain amount of UMI coins to your address.

After replenishing the wallet address, you can place your coins for staking in two pools. Unlike other staking systems, coins in the UMI system do not get frozen after joining a pool. They remain in the user’s wallet and no one can access them except the owner. Staking rewards accrue 24/7. The user can withdraw and sell them at any time.

You can buy UMI coins via the SIGEN.pro trading platform, which includes an exchange, an automatic exchanger, and a p2p platform. According to the statistics, the daily trading volume of UMI ranges from $ 250,000 to $ 300,000, and the liquidity of the order book for buying coins has already exceeded $ 3.2 million, taking into account the p2p-platform. For the project that was launched only four months ago, the numbers look very promising. The interest in UMI on the market is indirectly evidenced by the rapidly growing number of active users: their number exceeded 47,000.

Mobile Apps

Thanks to high-quality and fast mobile apps, users can perform all key operations using a smartphone or tablet. The applications for Android or iOS can be downloaded from Google Play and App Store, respectively.

UMI mobile apps offer a wide list of functions. One can create and manage one or several UMI wallets, receive and send coins, connect to staking structures, view the history of transactions, and get in touch with technical support.

The applications provide the ability to authorize using Face ID, fingerprint, or PIN-code.

You can find all the latest information about the UMI project in the blog.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Conflux Network Phase III — Tethys Officially Launches

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Tethys

Conflux Network mainnet launch was different from orthodox mainnet of other blockchain projects. The mainnet launch was set up in three phases; namely Pontus, Oceanus, and Tethys. The launch of Tethys — our final phase — marks a significant moment for all applications on the network.

In the first phase – Pontus launched Conflux DEX Ecosystem — the first step towards a more secure, stable, and easier-to-use framework for DEXes. The Conflux Foundation supports the development and maintenance of the three basic features of the DEX ecosystem:

  1. Cross-Chain Asset Protocol — ShuttleFlow
  2. Dual Protocol: On-Chain Settlements — BoomFlow & Off-Chain Matching — MatchFlow
  3. Value-Added Services such as Flash Swap and Price Limit services

Conflux also launched five global Pioneer initiatives at this stage with the aim to further expand our influence outside of the traditional crypto community. 

In the second phase – Oceanus: we focused on mining and the PoW algorithm. In the first half of this phase, we organized several mining campaigns, from mid-scale (hundreds of participants) to large-scale (thousands of participants), to further verify the stability of the network. Conflux organized a total of 14 mining activities with over 5000 participants in the process of decentralizing and stabilizing the Conflux Network.

ConfluxConflux Network became the third-largest decentralized network in the world with 4800+ network nodes reached during Conflux Oceanus. We also launched and concluded our first grants program. More than 50 teams, projects, or individuals applied for the grants, and 5 excellent projects were ultimately selected (Bitquery, Decentology, Certik, Fullet, Mixpay, Simpli Defi, Superfluid) who would be issued approximately $300k in Conflux token (CFX). Conflux network is also one of the initiators of Open Defi Initiative, which includes well-known Defi projects like Aave, DyDx, Balancer among others.

In the third and final mainnet phase – Conflux Tethys, there will be a 1:1 swap of FC’s to CFX. FanCoin (FC) is the official pre-mainnet token of Conflux Network, led and issued by the Conflux Foundation. Conflux Foundation utilized the FC token to fully mobilize the power of the community as well as provide early-access experiences for Conflux products. FC’s-USDT is tradeable on Moondex, while CFX- USDT trades will start and CFX can be used across all Defi products on Conflux Network. Instructions on how to convert previously held FC’s to  CFX will be announced, to get regular updates about CFX join our Telegram and Twitter channels.

Right now, there are 17 assets mapped onto our DEX ecosystem, a few of them include BTC, USDT, ETH, DAI, COMP, DF, KNC of which three (BTC, USDT, ETH) already trade on MoonDEX. 

Conflux Network would be launching its first virtual hackathon to celebrate the final stage of the main-net launch, along with two of our reputable partners (Aave and Chainlink).

Conflux Network set base in the African market now for about nine months. So far we have realized that one of the major use cases of cryptocurrency in Africa to date is remittance. A recent report from the World Bank revealed that the global average cost of sending $200 remains as high as 6.8% in 2020. Cryptocurrency and stablecoins bring an alternative for Africans, where transaction costs can be as little as $5 to move over $10,000 worth of Bitcoins. Africa continues to have the highest average cost of remittance at about 9 percent. This is why we have had some of our African community members reaching out to ask if CFX would be able to bridge the gap between several African currencies and the Chinese Yuan. Our partnership with Fliqpay is a very strategic one as we are working towards achieving this goal.

Besides reaching out to traditional crypto communities, we have on-going activities targeting non-crypto individuals, some of which include:  

  • Trade-in FCs for Jumia voucher: This is the first of its kind in the crypto space. It came as a result of a use case for FC’s. It has been received well and so far we’ve had great responses to the initiative.
  • FPL League sponsorship: We at Conflux Network are keen on setting our mark and being different from other blockchain projects. That’s why we partnered with Quidax, one of the biggest exchanges and 352ng a sport media, in sponsoring a fantasy premier league tournament in Africa. The league has close to 2000 people participating in it.
  • Instalive Webinars: We also started the bi-weekly Instalive webinars where we invited key opinion leaders as guests to speak on different blockchain and defi topics. 

The launch of Conflux Tethys is not the end, but the beginning of a great new journey. The team will continue to provide technical guarantee and support for the Conflux Network for a period of time before it is finally delivered to the community.

Currently, there are over 17 assets mapped and can be found on Moonswap.io or Shuttleflow.io, we hope that the Conflux Network can leave a wonderful legacy in the history of the rapidly iterating blockchain industry.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Join the TRX/NGN Trading Competition in Nigeria

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TRX/NGN Trading Competition in Nigeria

Binance has opened trading pairs for TRX/NGN as of 2020/10/01 10 AM WAT. Users can now deposit NGN and buy TRX on Binance.com. Users can also deposit TRX and trade for NGN.

Binance and TRON are collaborating to offer a N7,000,000 pool in bonus and giveaway to TRX traders on the Binance Platform. This is to celebrate the addition of the TRX/NGN Trading pair. 

Competition Period: 2020/10/2 0:00 AM – 2020/10/15  0:00 AM (UTC)

Promotion A: Trade TRX/NGN pairs on Binance to Win from a Prize Pool of N5,000,000

To participate in this promotion and share in the bonus pool, you must be among the Top 60 traders with the highest number of completed trades within this competition period. The more you trade the higher your chances of winning.

Tron on Binance

Bonus Activity:

To participate in this promotion, you have to trade at least $1,000 of TRX/NGN from Oct 1st- 10th, 2020 to qualify for the raffle draw. Up to 20 Winners will be drawn during the AMA (Ask Me Anything) session with the Justin Sun, Founder of TRON on the Binance Nigeria Telegram community here.

The more you trade TRX/NGN pairs, the more slots you get and the higher chance to win. 2,000,000 NGN (100,000 NGN for 20 users). Trading volume of $1,000 qualifies you for one raffle ticket.

TRX/NGN

Only users that have completed their KYC are qualified to share in the reward pool.

The Nigerian Naira (NGN) is a fiat currency and does not represent any other digital currencies.

Terms & Conditions

  • To participate in this promotion, users must complete their KYC.
  • The NGN rewards will be allocated to the Binance Wallet within 15 business days after the campaign finishes. Users can see their rewards by selecting the Account Center > Wallet > Distribution History.
  • Binance reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
  • Binance reserves the ability to disqualify any participants showing signs of fraudulent behavior immediately.

Join the competition! Start trading on Binance today.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

Disclaimer: This is a sponsored post. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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