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Chinese Blockchain Startup Conflux to Establish Base in Africa

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Conflux Africa

Conflux is a state of the art public blockchain system that can achieve high transactions per second (TPS) without sacrificing decentralisation or safety.

One of the major challenges in the current Blockchain field is a low throughput rate. The current available POW-based blockchain systems all have a very low transaction quantity. ConfluxThe existing rate limit for bitcoin is approximately 7 transactions per second and for Ethereum is approximately 30 transactions per second, which is way slower than the existing centralised transaction services like Visa (which supports transaction quantity of over 1,000 TPS).

Conflux is here to change the game by sticking to Nakamoto’s consensus but adjusting protocol parameters. By adopting the independent IP Tree Graph (TG) structure, Conflux realised a high throughput rate of 3000-6000 transactions per second without compromising on decentralisation.  

What has Conflux Accomplished So Far?

Conflux concluded its 1st round of private funding in 2018, which raised $35 million at the valuation of $400 million. Key investors include Sequoia China, Baidu, Shunwei, Metastable, and IMO ventures. Conflux will not be launching an ICO, IEO or any public sale event. 

In December 2019, the Shanghai government agreed to open a research institute with Conflux, while considering an incubator center that could be set up by June 2020. The Conflux incubator center aims to invite developers and entrepreneurs from different regions to build decentralised applications (DApps) on the public permissionless blockchain developed by Conflux. 

Conflux roadmap

Conflux hired Eden Dhaliwal as managing director to lead its expansion in North America. Dhaliwal left Outlier ventures at the end of December after working at the Web3 venture capital firm for over three years. He previously worked as an advisor at DLT Labs and a mentor at Techstars.  

Why is Entering the African Market Important?

The African project is a win-win for both Conflux and the African community. We are looking to establish a concrete community of developers, miners and also partner with local exchanges. The African Market is one of Conflux’s top priorities not only for brand recognition but much more on business integration and advancing the Blockchain industry.

The African market and its potential is one we do not take for granted, that’s why we have decided to appoint an African Representative, which means we are now closer to you and you will be seeing and hearing more from us.

What is the Status of Conflux’s Current Community?

Conflux’s name and influence started to spread out since early 2019, along with its testnet launch which came live in the first half of 2019. Now the project has strong and solid communities across China, Vietnam, Korea, and the US market.

The Conflux Bounty Program, which acts as the major community interaction platform, consists of various tasks, which include helping conflux develop its open-source code, improving a small widget or even promoting the Conflux community. Unlike traditional bounty platforms, the bounties can be claimed by community members with different backgrounds. Community members can claim Fans Coin (FC) upon accomplishing any tasks on the Bounty Program.

FC is a smart contract developed on Conflux Testnet. The FC can be swapped into the Mainnet CFX 1:1 (one for one) through the smart contract once the Mainnet launches later this year and is currently the only way of obtaining Tokens from Conflux. 

Learn more about FCs and the Conflux Bounty Platform here: https://bounty.conflux-chain.org

For everyone that wants to register on the Bounty Platform, we have a special registration code for you here.

Become part of the Conflux Africa Community by joining their Telegram Group: https://t.me/ConfluxAfrica

Stay updated on Conflux through Instagram: https://www.instagram.com/conflux_foundation/

Follow the Conflux Twitter account: @ConfluxChain

Together, let’s bring blockchain technology and cryptocurrencies to everyone!

Disclaimer: This is a paid 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 sponsored post. 

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Bitcoin Wallets: Which is the Best and Most Secure Bitcoin Wallet?

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Most Secure Bitcoin Wallet

The first and most crucial step towards becoming a crypto trader or investor is owning a wallet. But what is a crypto wallet? In simple terms, your crypto wallet is what gives you access to your crypto coin. Unlike what most people wrongly believe, crypto wallets do not actually store cryptocurrency. Blockchain technology, a global decentralized database, is where cryptocurrencies are confirmed.

Crypto wallets are simply unique addresses that store public or private keys for cryptocurrency transactions. The wallets enable you to execute transactions such as sending or receiving cryptocurrency successfully.

Often, when people want to learn how to trade bitcoin, they do not pay so much attention to their wallet choice. Yet, starting your crypto journey by choosing the best bitcoin wallet is one of the most intelligent investment decisions you’ll ever make.

While literally, countless crypto wallets are available today, there’s a need for extra care when choosing one. Why? Your choice of crypto wallet will significantly affect the safety and security of your crypto investment. Using the wrong crypto wallet can put your crypto investment at risk and result in a terrible investment experience.

Cryptocurrency wallets are of two forms – hot wallets and cold wallets. Hot wallets allow you to store your bitcoin online and are directly connected to the internet. They are often available in desktop, mobile or web formats and help to facilitate easier transitions. Cold wallets, on the other hand, are somewhat a direct opposite of hot wallets. They are a relatively new technology that aims to improve the security and safety of cryptocurrency. Cold wallets come in small, encrypted portable devices that enable you to carry your cryptocurrencies everywhere you go. They are hardware-based and may cost a few hundred dollars to acquire.

Desktop wallets

These are Hot wallets that operate on your computer system. They store your bitcoin on your computer and help you gain complete control of your bitcoin or cryptocurrency. Thus, you have no “third-party” factor to consider or fear. Third-parties may freeze crypto accounts or even cause users to lose their coins. Desktop wallets steer you clear of these risks. Typical examples are Atomic wallets, Electrum and Exodus.

Mobile wallets

As the name suggests, mobile wallets are wallets that run on your smartphone and thus stay with you at all times. They help you make on-the-go transactions, keeping everything you need to trade in the palm of your hands. They are often available in iOS and Android apps and offer highly convenient crypto payment methods. Typical examples of mobile wallets are ZenGo, BitPay, GreenAddress and Mycelium, and Atomic Wallet.

Web wallets

Web wallets operate in your browser just like a website would operate. They are also referred to as “online bitcoin wallets” and used to be the choice of many investors. However, as cybercrime and crypto frauds gain more attention in the crypto and technology space, web wallets have lost the trust of online or web wallets. They are more susceptible to attack as these web wallets are stored by a third-party website that you do not own or control. And as the famous saying goes, if you don’t solely hold the keys to your cryptocurrency, then the coins aren’t really yours.

Irrespective of the kind of wallet you use, the first step towards the safety and security of your investment is to keep your passwords safe. Your password gives you full control over your crypto transactions and investment, so letting it slip into the wrong hands can pose serious threats to your coin’s safety. However, most digital wallets offer more than just password protection. You could find other security features such as crypto encryption, two-factor authentication and so on. These extra protections will boost the security of your bitcoin but don’t replace the need for personal care and the protection of information.

The best and most secure wallet for your bitcoin investment

There are a few factors to consider when choosing the best bitcoin wallet. When these factors are put in check, they can transform your experience as a bitcoin trader. The least you want to do to become a successful trader or investor is to put your investment on the right platform.

1. Ease-of-use

The right bitcoin wallet shouldn’t be another set of technical tools that require sophisticated learning to understand or use. This is one key reason why ZenGo is the best bitcoin wallet for any kind of investor or trader. Buying, selling, trading, earning bitcoin interest and even earning free bitcoin has never been more effortless. Imagine the stress of filling pages of forms before gaining access to a crypto wallet, quite unimaginable, isn’t it? With ZenGo, it takes less than 19 seconds to own a bitcoin wallet and start trading. Plus, you literally don’t need to provide any documents.

2. Versatility

Although bitcoin remains the most popular and frequently traded coin, there are yet other coins that traders can greatly benefit from. You don’t want your crypto wallet to restrict or limit your trade opportunities. ZenGo offers over 70 crypto assets, including bitcoin, ethereum, and dogecoin. This is another core reason why it is one of the best. Smart investors take advantage of several crypto coins and know what to look out for before taking that bold step. Thus, with ZenGo, you can increase your portfolio and earning opportunities without having to switch platforms.

3. High security

Passwords, private keys, and seed phrases are great ways to secure your crypto funds. However, they aren’t the best. The fear of misplacing passwords accidentally or even landing them in the wrong hands is another thing that haunts crypto enthusiasts. Luckily, ZenGo, arguably the best bitcoin wallet, offers an innovative and effective solution to this. With facial biometrics, you wouldn’t have to worry about passwords and private keys anymore. You can now truly have full control over your funds and recover your account easily from any device. ZenGo is more than just secure; it’s the most secure.

4. Limitations

Crypto wallets often set minimums and maximums for transactions. This itself has been a huge challenge for high-profile traders and investors. ZenGo understands that there are basically different levels and categories of traders. Thus, it offers its users absolute freedom and control over transactions without extra fees. Users can send or receive any amount of bitcoin or other assets without having to worry about limitations as long as there are enough funds to cover the network fees. And yet, another mind-blowing reason why ZenGo is the best bitcoin wallet for you.

5. Unmatched customer support

If you’ve ever needed to resolve an urgent wallet-related issue and got disappointed by poor customer support, you probably will understand how much that hurts. In business, nothing beats effective customer support. And since that’s exactly what ZenGo stands for, no other wallet beats ZenGo. Unlike some other bitcoin wallets that depend on AI to resolve customer complaints, ZenGo uses real human agents for better understanding. Due to this, users can get a response in less than two minutes and be certain that their complaints are well understood.

But that’s not all. ZenGo also allows you to

  • Choose from the 3 network fees modes (economy, regular, fast). Applicable for BTC, ETH, ERC20.
  • Cancel or speed up your sent transactions before they are confirmed on the blockchain with 1 tap.
  • Get $10 cashback in Bitcoin for purchase of $200 by applying the code ZENX0B4G

Obviously, ZenGo remains the best bitcoin wallet for all kinds of traders across the globe.

Disclaimer: This is a sponsored post written by a third party. 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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5 Things You (Probably) Didn’t Know About Bitcoin

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Know About Bitcoin

It might be the most famous cryptocurrency on the planet, but there are still a lot of things that aren’t common knowledge about bitcoin. Indeed, even the identity of its creator – allegedly Satoshi Nakamoto – remains shrouded in mystery, even as the currency continues to go from strength to strength around the world.

For anyone keen to learn crypto and take their first steps into the industry, it’s important to gather as much information on the subject as possible. With that in mind, we’ve assembled a list of some of the most astonishing and unusual facts about bitcoin to help you on your journey. Happy reading and even happier trading!

1. Pricey pizzas

While bitcoin was first created in 2009, the first official transaction involving the exchange of the currency for goods and services was not recorded until the following year. On the 22nd of May 2010, an individual named Laszlo Hanyecz traded 10,000 bitcoins for two Papa John’s pizzas. While the cash value of the deal was just $41 when Laszlo made his purchase, the same number of bitcoins have now risen to an equivalent of $67.2 million at the time of writing. Now that’s some expensive pizza dough, right there.

2. Bitcoin vs bitcoin

Have you ever noticed that you sometimes see Bitcoin spelled with a capital B, and sometimes bitcoin spelled with a small b? Well, that’s because the two words actually mean different things! The uncapitalized spelling of the word refers to the cryptocurrency itself and the coins used in transactions, while the capitalized version means the blockchain technology which underpins it and the ledger which stores all of its records. As such, both spellings are correct – but only if they’re used in the appropriate context.

3. Nigeria is the 2nd largest bitcoin market in the world

Although it is the seventh most populous country on the planet, Nigeria is not normally associated with being a market leader in financial terms, nor is it typically associated with technological innovation. However, the youthful average age of the population, alongside inflationary problems with the national currency of naira and the high number of remittance payments received by Nigerian people, means that it’s the second largest market for the cryptocurrency behind the US.

4. It uses more power than Argentina

The “proof-of-work” blueprint by which Bitcoin operates necessarily entails the consumption of extremely high amounts of power, as miners must use sophisticated hardware to solve complex mathematical problems. According to researchers from Cambridge University, this meant that the technology used a massive 121.36-terawatt hours (TWh) per annum. That’s more than the whole of Argentina! Concerns over the eco-friendly credentials of bitcoin led to Tesla CEO Elon Musk denouncing the currency on Twitter earlier this year, which precipitated a temporary mini-crash in its market worth.

5. Bitcoin is not the first digital currency

Bitcoin is regularly cited as the first digital currency to come into being, with all of its competitors subsequently referred to as altcoins. But while bitcoin might be the first entity to earn the title “cryptocurrency”, it actually has a forerunner 20 years prior. DigiCash, an entirely digital payment method, was pioneered by scientists and cryptographer David Chaum in 1989. Although DigiCash folded within a matter of years, it paved the way for bitcoin decades before the latter arrived on the scene.

There’s still much we don’t know about bitcoin, which is why regulators and financial authorities are so reluctant to embrace it wholeheartedly. Only time will tell whether or not it will become as mainstream as its proponents hope and predict in the years ahead.

Disclaimer: This is a sponsored post written by a third party. 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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Why Africans Need to Consider Beldex

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Beldex

Investing in cryptocoins became a heated debate among the people. Everyone follows different strategies to invest in crypto. Many of us will go according to word of mouth and suggestions from our friends to make our investment. Doing this kind of investment will be beneficial sometimes, but not all the time.

But then, how do you identify a project with potential? 

Before investing, one should go through the coin’s utility, scalability, price variations, upcoming developments, the team, and partnerships. It will give them a clear-cut idea about the crypto project. 

Beldex LogoBeldex (BDX) is a privacy coin (Monero fork) that anonymises the user transaction and offers better privacy than any other privacy coin in the market. BDX coins are not only used for trading purposes, but people can earn passive income from them by staking, mining, validating, etc.

Other than this, Beldex is working to build a secure and privacy future for the people. Beldex is developing decentralised applications. These DApps help to prevent our privacy from being exposed to the outer world. Not only these but there are also many other privacy features on the Beldex ecosystem. With the Beldex (BDX) coin, people can have many advantages.

Issues We Are Facing on the Internet

In this digital world, people are depending on the internet for every need. Whatever you want you can browse on the internet and get the details of it. Internet browsing and chatting have become part of our life. 

But, the price you pay for that is your privacy. Have you ever seen ads that follow you around regularly? It all happens due to websites and applications tracking what you do. They will sell your data to big corporations and will start to promote their products and services.

Where is your privacy at this point? Browsing on the internet is not wrong because it has become our basic need. At the same time, you shouldn’t lose your privacy. It is the fundamental right of all. So to overcome this, Beldex is focusing on developing privacy-preserving DApps. 

How will we work on it?

Beldex focuses on anonymising your activity on the internet. Beldex DApps are built on the Beldex privacy blockchain to overcome privacy issues. In the Beldex privacy blockchain, all data is encrypted. No one knows your identity while you’re using DApps because to use the service, you don’t need to provide your name, phone number, e-mail id, or location. Users can download the DApps, create an account, and start using them. 

Beldex DApps Under Development

BChat is a private messaging application used to chat with others. Here the encrypted data will pass through the nodes on the Beldex Blockchain. Only the sender and receiver can see the actual message; others can’t get any information about it. The public key and a private key are initiated during the account creation. The public key is used to share with others for identifying your account. The private key is used to restore your account. The data will be stored on decentralised nodes in encrypted form, so no one can alter or read it.

BelNet is a dVPN service used to mask your IP address. Even a centralised VPN can mask your IP. But think, when hackers get access to these centralised VPN networks, they can very well see your IP. You will start to lose your privacy. In BelNet, your traffic will be routed through the decentralised nodes in the Beldex network. Furthermore, it is encrypted. 

Beldex Browser helps to get rid of ad-related issues. Whenever we begin to browse the internet, targeted ads follow us around. However, the Beldex browser doesn’t track or save your browsing data. So to secure your information, Beldex Browser helps you by blocking cookies, Javascript, and metadata.

Highlighted Beldex Privacy Ecosystem:

Beldex Privacy Protocol is used for secure transactions. In some cryptocoins, transaction history, the amount we hold, sender and receiver details can be analysed. Beldex Privacy Protocol is a protocol to anonymise the transactions made on other blockchains. 

Beldex Bridge acts as the cross-chain link between two blockchains. Beldex can’t be accessed on other blockchain platforms unless it is migrated as a token on their platform. So the Beldex bridge will help us by linking the Beldex blockchain with other chains. Beldex is already bridged to the Binance Smart Chain. The upcoming bridges are the Ethereum and the Polkadot bridge.

Flash is a second-layer transaction that helps to make the transaction fast. Generally, a transaction from one wallet to another wallet will take a few minutes of time. But in a flash, the transaction will be complete within a fraction of a second. 

Beldex is now moving towards the PoS architecture. This upgrade will help increase the scalability of the coin and reduce the transaction fee. The block generation time is also reduced. So people can earn more rewards by staking on their coin masternodes by the reduction of block time generation.

Wind-up declaration:

All these features will make the Beldex the best privacy coin. By buying a privacy coin, a person can relish many benefits. But, where do you buy BDX coins? On crypto exchanges. Yes, people can buy Beldex on BuyUcoin, STEX, Bilaxy, and BTC-Alpha.

Disclaimer: This is a sponsored post written by a third party. 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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