Connect with us

Guides

P2P Network Systems: A Go-To Guide for Understanding How They Work

Published

on

P2P Network Systems

As technology continues to become more advanced, we are seeing an increasing demand for various types of networks. As an enterprise, it is essential that you choose a networking system that boosts productivity, decreases your expenses, and increases your sales revenue potentials. Many enterprises face the decision of choosing between a peer-to-peer (P2P) network and a client-server network system.

Here is a go-to guide for understanding how P2P networks work and how Lambda, a service provider of P2P networking, can benefit your enterprise.

What is P2P Networking?

Contrary to many people’s beliefs, P2P is not a new form of technology. In fact, it is has been around since the advent of the Internet where it originated with email protocols. A P2P system is a network of computers that each shares an equal amount of responsibility in regards to processing data. They are unlike client-server network systems, where some devices share the responsibility of processing and serving data, while the other computers consume the data being processed by the servers.

P2P networks were initially deployed for business purposes back in the early 1980s. Before P2P networks were put into use, mini mainframes, like VS systems, were used to store files on a central hard drive, such as word processing files. In order to operate a computer, though, it had to be linked to the mainframe. As you can imagine, it was inefficient and created a huge mess of cords. Nowadays, our advancements in technology have allowed us to create PCs that liberate workers and allow them to work remotely with no need to be hardwired to the mainframe. Even better, workers can share files and link printers to one another thanks to P2P networks.

It is very common to see P2P network systems on local area networks, such as home networks, where each device can be synced with one another to share files. These systems can be created as wired or wireless networks where they use the same networking protocols as well as the same software to perform their functions. Schools and small businesses regularly take advantage of creating a P2P network system to share and access files among all users.

In homes, schools, and businesses where a broadband router is used, the network created is known as a hybrid P2P and client-server network. Lambda fully supports hybrid networks and has the resources to provide network layer addressability. Lambda also has multi-database cluster system capabilities, which provides unlimited encryption data storage, making it excellent for enterprises in need of a secure data storage solution.

A hybrid network environment is comprised of a router that acts as a centralised sharing tool for Internet connection, however, the local computers connected to the network manage the file sharing. In addition to files, printers and other resources can be shared among the devices that are connected to the network.

Enterprise Benefits of Using P2P Network Systems

P2P Network SystemsWhen using Lambda for P2P networking, enterprises will enjoy a variety of benefits, especially in relation to boosting productivity and minimising downtime. A P2P network is extremely secure and hackers find them difficult to take down. Even if one device is shut down, the other devices continue to share their resources and communicate with one another, ensuring uptime is maximised. In order for the entire network to be shut down, each device would have to be taken down individually.

Another advantage of using P2P networks is they are extremely scalable. Any time you onboard a new employee and new devices, there is no need to perform central configurations to the primary server. And in regards to file sharing, the more devices you have connected, the faster files can be shared.

How does P2P networking optimise file sharing? Think of it like this. When a file is downloaded from a single source, it takes a long period of time to download. However, when a file is downloaded from multiple connected devices, tiny bits of the file are pulled from each device and downloaded simultaneously; this means file sharing can take place almost instantaneously with no need to wait for extended download times. As your business grows, your P2P network becomes more efficient and scaling the system counteracts traffic bottlenecking issues commonly seen on client-server networks.

It’s also with a P2P network that all users can easily see where the files are originating from as well as what percentage of each file is being stored locally. Furthermore, this form of networking enables you to control redundancy. While many enterprises prefer cloud storage, and although they do come with their advantages, P2P technologies increase convenience and eliminate the need to upload and download files to and from the cloud, which serves as a viable way to control redundancy and improve cost control.

The Takeaway

This go-to guide provides a helpful understanding of how P2P networks work and the numerous benefits your enterprise can reap from deploying a P2P system. It is pertinent to understand P2P networking becomes much more efficient and secure when deployed with the right technologies, such as Lambda Agent, which provides optimal memory data storage, metrics data uploading, and performance and security monitoring capabilities. Contact Lambda today to learn more about its networking and storage solutions.

This guest post was contributed by infrastructure software expert and Lambda founder, He Xiaoyang.

*Readers should do their own due diligence before taking any actions related to the mentioned company, product or service. 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 guest post.*

BitCasino

Guides

4 Tips for Managing Your Emotions When Trading Crypto

Published

on

Managing Your Emotions When Trading

Dealing with emotions is a natural part of being human. How you feel can significantly impact the world around you, and that is an indisputable fact in life. However, the world of cryptocurrency trading can be an unforgiving place for the overly emotional. If you let your feelings cloud your decision-making, you risk selling too early, running losses, and missing out on significantly profitable opportunities had you stopped for a moment and thought the matter through with a clearer headspace.

For example, after hearing some concerning rumors, you rashly decided to empty out your XMR wallet and other crypto exchanges for fear of losing money. After some time, however, the prices bounce back higher than before, which is a cause for dismay because you lost all of your investment due to a rash decision on your part.

Hence, it is crucial to keep your emotions in check when trading. This is especially the case when you are trading in an extremely volatile industry such as cryptocurrency. The crypto market is notorious for its constantly fluctuating values and massive price swings. It can strike fear, panic, and greed in the least suspecting and cost you more than what you bargained for.

Whether you are new or experienced in dealing with crypto, managing one’s emotions is a must-have tool in your trader’s toolbox. To help you master this skill, here are some tips to keep in mind as you traverse the wild, harsh landscape of crypto trading.

Develop a Risk Management Plan

Risk management is an integral part of any kind of investment venture. You want to ensure that you have backups in place in case a situation arises that may threaten your initial investment. However, many new traders overlook the importance of considering their emotional responses and their risk tolerance when formulating their risk management plans. As a result, their plans crumble in the face of high-pressure situations.

As such, always consider your risk tolerance when developing a plan to mitigate trading risks. In fact, many trading consultants use it as a basis for forming your trading plan. By doing so, you can ensure that you are only taking on what you can handle emotionally as you work your way to reaching your financial goals. Over time, as you become more experienced and more in control of your emotional responses, you can decide to take on more risks.

Conduct In-Depth Research

One of the most effective ways to handle frantic feelings is to counter them with cold, harsh facts. Aside from your risk management plan, it is wise to conduct some research on your own that can substantiate or debunk any concerning news or rumors that might cause you to buy or sell on an impulse. For example, after hearing from another trader that one of the digital coins you invested in has died due to a lack of community support, you might be tempted to liquidate the entirety of your investment. However, after some digging, you determined that the community is still active and invested in improving said cryptocurrency.

It is also important to do your homework when picking which coins to support. Make sure to check the cryptocurrency’s whitepaper and the developers’ activities for a clearer idea of the coin’s potential. In this manner, you can feel assured that your investments have a high potential of bearing fruit in the future.

Do Not Obsess Over Market Charts

Many traders new to the crypto industry fall into the trap of obsessing over market charts. The constant flickering of colors and lights can be hypnotising to the unaware. They watch price fluctuations all day to ensure that they can take note of sudden price hikes and dips, which may lead down a path to profitable opportunities.

However, this method is not helpful to your mental and emotional health. Indeed, it can feel like an emotional rollercoaster watching prices go up and down continuously. Processing significant amounts of information for too long can wear you down over time and may instead cause you to decide poorly when an opportunity arrives. Thus, a word of advice: do not let the market chart take over you.

Take Advantage of Limit Orders

Signing into your crypto exchange after some time and learning that the value of your investment has plummeted is a reasonable fear for many traders. After all, it is not healthy to watch market charts like a hawk, and in the crypto space, so many things can happen after a short span of time. Fortunately, many crypto exchanges have stop-loss features. This is a feature that automatically sells your coins once their prices decline to a certain value. In this manner, you can feel assured that your investment remains intact, assuaging any fear or worry you may have while not on the crypto exchange.

Removing emotions from any decision-making process that you make is almost impossible. In a highly complex and volatile market like cryptocurrency, conquering your initial emotional responses and maintaining a clear head is a skill that you have to master through experience. By doing so, you can keep your eyes on the prize and trade in a manner that is most helpful to your needs.

BitCasino
Continue Reading

Guides

How to Bet with Bitcoin on Football

Published

on

By

With the new football season having started, it’s time to learn how you can bet with bitcoin on your favorite football club. The good news is that many online betting companies now accept bitcoin.

Read on to learn why betting companies love bitcoin and how to bet with BTC on your football team.

Why Betting Companies Support Bitcoin

Since its establishment in 2009, Bitcoin (BTC) has been and continues to be the most popular cryptocurrency, and with good reason. Some of Bitcoin’s most impactful features include:

1. Fast and inexpensive

With bitcoin, it takes a few minutes to send and receive any amount of money. And if you are using the Bitcoin Lightning Network to make payments, transaction costs are a few cents.

2. No third-party interference

Because of its decentralized nature, which makes it impossible for anyone (including governments) to control, you can feel safe to make any payments you want (including to online betting platforms). This also comes with the added advantage of not having to disclose your personal information when making a payment.

3. Supports borderless payments

With Bitcoin’s decentralized nature comes its borderless characteristics. This makes it possible for anyone in the world to be able to send and receive bitcoin payments wherever they are.

Betting companies were among the first adopters of bitcoin because it enables them to reach a broader audience and provide an innovative digital payment option to bettors. From playing a bitcoin slot to betting on any sport imaginable, bitcoin casinos and online betting companies have truly embraced bitcoin.

The credibility of bitcoin as a financial and payment solution is also being felt in the world of football. For example, in April 2021, Southhampton F.C began paying its players bonuses in bitcoin, opening up a whole world of possibility for other clubs to start doing the same.

How to Bet With Bitcoin on Football

Bet with Bitcoin on Football

Betting with bitcoin has proved to be an efficient process for bettors, and betting companies who have embraced cryptocurrency as an efficient payment system.

One of the leading sports betting companies that enables you to bet with bitcoin is Sportsbet.io. So let’s dive in and show you how you can bet with bitcoin on this popular platform.

Betting with Bitcoin on Sportsbet.io

Sportsbet.io is a user-friendly and highly modern betting platform. It has a functional live betting service and is one of the few betting companies that will allow you to bet in bitcoin through a few easy steps.

  1. Register for Sportsbet.io by clicking on the ‘Create an Account’ tab on the top right of the homepage.
  2. Access your wallet by logging into Sportsbet.io. On the top right of the page, next to your balance, click your balance or the ‘Deposit’ button.
  3. Next, you click on ‘Use Currency’ and on ‘Deposit.’
  4. A QR code will appear.
  5. Open your bitcoin wallet, scan the QR code, and choose how much BTC you want to send to your betting account.
  6. You will have to wait for three confirmations on the Bitcoin blockchain for your funds to settle in your SportsBet.io account.
  7. Start betting on your team(s).

Now that we have started you off on your journey, happy betting, and may the odds be ever in your favour!

BitCasino
Continue Reading

Guides

How to Cash Out Bitcoin to Naira Using Cryptofully

Published

on

Bitcoin to Naira

Over the past few months, Nigeria’s central bank has made it difficult for traders to cash out bitcoin to naira, restricting crypto companies from having a Nigerian bank account. But there is now a cheap and efficient way to cash out your bitcoin to naira.

In this guide, you will learn how to convert your BTC to NGN and receive the money in your bank account within minutes using Cryptofully.

Getting Started on Cryptofully 

Cryptofully is a peer-to-peer payments app that allows you to easily convert bitcoin to naira and automatically settles into your Naira bank account.

Using Cryptofully, you can cash out your bitcoin from anywhere in the world into any Nigerian bank account. The platform also supports US dollars and payment options, including Visa, Mastercard, Google Pay, and Apple Pay.

Cryptofully leverages a local network of peer-to-peer (P2P) traders, enabling it to convert BTC to NGN within minutes. With this P2P system, you are not looking for a peer to buy your bitcoin. Cryptofully automatically matches your trade to the best peer and makes it seamless for the user.  

All that’s needed to cash out bitcoin to naira using Cryptofully is to sign up, complete the KYC, add a bank account and convert your bitcoin to cash.

How to Cash Out Bitcoin to Nigerian Naira

You can cash out your bitcoin to your Nigerian bank account using either the Cryptofully website or mobile app. 

Download the Cryptofully App

mobile app

Step 1: Create an account

  1. Get the app on iOS or Android.
  2. Open the app and register with your email address and verify the email address.
  3. Start the KYC process. Visit Profile, click to Add bank, and add your BVN. You can also add your bank account in this section.

Step 2: Cash Out Your Bitcoin to Naira

  1. Type in the amount you want to cash out.
  2. Then choose to send via bitcoin.
  3. On the following page, you can add your bank account details in the recipient field.
  4. On the last page, you can see a Bitcoin wallet address. Send your bitcoin to that wallet address and within a few minutes, the equivalent amount in naira will settle in your bank account. 
  5. Cryptofully matches you to a peer instantly who sends the money to your naira bank account.

Visit the Cryptofully Website

Cryptofully Platform

You don’t need to sign up or log in with any details on the website to start using it

  1. Go to the Cryptofully website at www.cryptofully.com.
  2. Specify the amount of bitcoin you want to cash out to naira. You can use either the Floating Rate or Fixed Rate. The Floating Rate means the exchange rate can change based on changes in bitcoin prices, and the Fixed Rate means you can lock in an exchange rate for your transaction.
  3. The naira amount equivalent you will get in your bank account will appear below.
  4. On the following page, you will see a space to fill in the preferred bank account you want to receive your money.
  5. Then, you will be shown a Bitcoin wallet address. 
  6. Copy the wallet address and do a transfer to the address. The Cryptofully system matches you immediately to a peer.
  7. The peer sends the money and the money settles in your naira bank account.

Since the Central Bank of Nigeria enacted draconian measures against crypto companies, preventing them from having banking relationships, the peer-to-peer bitcoin trade has flourished in the West African country.

Peer-to-peer payment apps, like Cryptofully, are enabling Nigerians to continue using bitcoin for remittances, payments, and as an investment.

BitCasino
Continue Reading

Popular Posts