People Over Profits by OhGee

19/06/2023

04/04/2023

Decentralized Identity🧵

One of the most promising applications of blockchain technology is centralized identity. Individuals may be empowered as a result of having complete control over their digital identities and personal data.

Decentralized identity provides a way for individuals to verify their identity without relying on a centralized authority in a world where digital identity theft and data breaches are becoming more common.

Individuals can use decentralized identity to create unique digital identities that are stored on a blockchain, making them tamper-proof and resistant to hacking.

This technology has the potential to transform the way we interact with the digital world by providing individuals with increased privacy, security, and control over their personal data.

Furthermore, decentralized identity has the potential to enable new business models based on trust and transparency, thereby creating a more level playing field for both individuals and businesses.

Several decentralized identity projects, including IDHUB , BLOCKSTACK, are currently in development. These initiatives are working to develop decentralized identity solutions that are simple to use and available to everyone.

While decentralized identity is still in its infancy, it has the potential to transform the digital world and give people more control over their personal data. Stay tuned for more information on this fascinating technology!

29/03/2023

Arbitrum Shows Just How Messy (and Tricky) Crypto Airdrops Can Be.

It’s been around a week since the Arbitrum airdrop, when the largest Ethereum layer 2 platform by transaction volume distributed its long-awaited governance token to community members.

What’s clear by all accounts is that while users managed to successfully claim over $1 billion worth of tokens, the process was anything but smooth – mired by bugs, frustrations and scammers looking to take advantage of the chaos.

Bugs, server crashes and scammers continue to plague crypto airdrops. Will regulatory pressures be next?

29/03/2023

Privacy Coins🧵

Privacy coins are a type of cryptocurrency that is intended to protect their users' privacy and anonymity. To ensure that transactions are completely private and untraceable, these coins employ advanced cryptography, ring signatures, stealth addresses, and zero-knowledge proofs.

Monero is one of the most well-known privacy coins (XMR). Monero employs ring signatures to conceal the sender and receiver's identities, stealth addresses to conceal the transaction amount, and ring confidential transactions to conceal the transaction history.

Zcash is another popular privacy coin (ZEC). Zcash employs zero-knowledge proofs to enable selective information disclosure. This means that users can demonstrate the validity of a transaction without disclosing any information about the transaction itself.

Other privacy coins include Dash (DASH), which uses a combination of techniques such as PrivateSend and InstantSend to ensure privacy and speed, and Verge (XVG), which anonymizes transactions using both Tor and I2P networks.

Some have criticized privacy coins for their potential use in illegal activities such as money laundering etc. Proponents, on the other hand, argue that privacy is a fundamental right and that privacy coins are required to protect users from surveillance and censorship.

It should be noted that not all cryptocurrencies offer the same level of privacy. Because all transactions are recorded on a public ledger, Bitcoin, for example, is not completely anonymous.

There are, however, ways to improve privacy when using Bitcoin, such as by using a mixing service or a privacy-focused wallet like Wasabi.

Overall, privacy coins provide a unique and important solution for cryptocurrency users who value their privacy and anonymity. Before investing in any cryptocurrency, it is critical to conduct your own research and understand the risks involved.

Follow, Like & Share
Don’t forget to follow us for more!!!

28/03/2023

https://medium.com//is-cryptocurrency-mining-still-a-profitable-venture-ac40ddaad7e5

The crypto mining industry since its inception has continued to make giant strides making it a profitable venture in the crypto space. But given the bearish times facing the crypto market some crypto fans and enthusiasts wonder if crypto mining can still make them good cash in 2023. It will interest you to note that the first ever cryptocurrency to be mined was Bitcoin in 2009. But it’s a surprise to know that fourteen years after the genesis block was mined, most people have only heard about cryptocurrency mining in the last 1–2 years. For newbies and other players in the crypto space who wants to explore cryptocurrency mining this year, this article is for you. Read till the end to get the full gist.

The crypto mining industry since its inception has continued to make giant strides making it a profitable venture in the crypto space. But…

28/03/2023

DeFi Liquidity Pools🧵

Liquidity pools are a key feature of DeFi, or decentralized finance, which has gained a lot of attention in recent years. Liquidity pools are simply token pools used to facilitate trading on decentralized exchanges.

Users deposit two different tokens of equal value in a liquidity pool. These tokens are then used to provide liquidity to the decentralized exchange, allowing users to trade them without having to rely on a centralized authority.

Users who trade on the decentralized exchange pay a small fee, which is distributed proportionally to the pool's liquidity providers. Users are encouraged to contribute liquidity to the pool because they can earn a portion of the trading fees.

The market's supply and demand determine the value of each token in the pool. When one token in the pool is in high demand, the price of that token rises, while the price of the other token falls, preserving the pool's balance.

Overall, liquidity pools have become a popular way for defi users to generate passive income. They add liquidity to the decentralized exchange, allowing for smoother trading, and users can earn a portion of the trading fees for participating in the pool.

Follow, Like & Share
Don’t forget to follow us for more!!!

15/03/2023

Cryptocurrency communities are groups of people who are interested in cryptocurrencies and blockchain technology.
They can be found online or in person, and they provide a place for people to share ideas, ask questions, and collaborate on cryptocurrency-related projects.

Here are some steps you can take to join a crypto community:

1. Research online: Look for cryptocurrency communities on social media platforms like Twitter, Reddit, Facebook, Telegram, Discord, and LinkedIn. Join groups that are relevant to your interests.

2. Attend Twitter Space: Attend cryptocurrency or web3 spaces hosted by community members.

3. Participate in social media: Engage with cryptocurrency enthusiasts on social media platforms. Follow prominent members of the community on Twitter and engage with their tweets. Comment on cryptocurrency-related posts on Facebook and LinkedIn.

4. Start your own community: If you can't find a community that meets your needs, consider starting your own.

Remember, joining a crypto community is a great way to stay up-to-date with the latest developments in the world of cryptocurrencies and blockchain technology.

By actively participating in these communities, you can gain valuable insights, meet like-minded individuals, and potentially even contribute to the development of new projects.

Follow, Like & Share
Don’t forget to follow us for more!!

14/03/2023

UK Bank NatWest Limits Daily Crypto Payments to $1,200

NatWest has joined the ranks of U.K. banks imposing restrictions on its customers making payments to cryptocurrency exchanges.

Customers will be limited to payments of 1,000 British pounds ($1,218) per day and 5,000 British pounds ($6,090) over a 30-day period, NatWest announced via email on Tuesday.

"NatWest is increasing customer protection against crypto-criminals after 329 million pounds was lost by consumers last year," the bank said.


Read more:

Customers will be limited to payments of 1,000 pounds ($1,218) per day and 5,000 pounds ($6,090) over a 30-day period.

14/03/2023

Security Tokens 🧵

Security tokens are digital assets designed to represent ownership of a real-world asset, such as shares in a company, real estate, or commodities. They are a type of blockchain-based token subject to regulations and securities laws and are issued and traded on specialized security token exchanges.

Security tokens differ from utility tokens, used to access a specific service or product and are not subject to securities regulations. Security tokens, on the other hand, are issued in compliance with securities laws and are often used to raise capital for businesses or to provide investors with a way to invest in assets that were previously inaccessible or illiquid.

Security tokens offer several advantages over traditional securities, including lower transaction costs, faster settlement times, and increased transparency and efficiency. They also offer greater accessibility and global reach, as they can be traded on a 24/7 basis and are accessible to investors all around the world.

However, security tokens are subject to regulatory requirements and must comply with securities laws, which can make the process of issuing and trading them more complex and costly. Additionally, security tokens may face challenges in terms of liquidity, as they may not be as widely traded as traditional securities.

Despite these challenges, security tokens are a rapidly growing area of the blockchain industry and are expected to play an increasingly important role in the future of finance and investing.

Follow, Like & Shae
Don’t forget to follow us for more threads
#

14/03/2023

Relationship Between Blockchain and Web3🧵

Blockchain and Web3 are closely related concepts, as Web3 (also known as Web 3.0 or the decentralized web) is essentially built on blockchain technology.

Blockchain technology is a decentralized and distributed ledger that allows for secure and transparent transactions between parties without the need for intermediaries. This makes it a key component of Web3, which aims to create a more decentralized and user-controlled internet.

Web3 enables the creation of decentralized applications (dApps) that run on top of blockchain networks, enabling users to interact with them directly without the need for intermediaries or centralized authorities. These dApps can be built on various blockchain platforms, such as Ethereum, Polkadot, and Cardano, among others.

In essence, blockchain provides the foundation for the decentralized infrastructure that powers Web3, enabling the creation of secure, decentralized, and trustless applications that can be accessed and used by anyone, anywhere in the world. As such, blockchain and Web3 are tightly intertwined, with each supporting and enhancing the other's capabilities.

Follow, Like, & Share
Don’t forget to follow us for more!!!

01/03/2023

Breaking: Chainlink Targets Web 2.0 Developers With New Platform Launch

Ethereum based blockchain network Chainlink is all set to launch a new platform for developers to build linkage between web 2.0 APIs and web 3.0 applications.

Importantly, the new platform will allow making customizable computations on web 2.0 APIs very quickly. It is expected that this addition will go a long way in the adoption of Chainlink, which is focused heavily on the smart contracts space. Very recently, the blockchain’s core team also revealed plans to pivot to the artificial intelligence way, to tap the AI related use cases.

Read more: https://coingape.com/chainlink-news-new-platform-for-web-2-0-linkage-price-rally/?utm_source=24hrsupdateall

Chainlink, the blockchain network based on Ethereum, is launching a new platform to help developers connect web 3.0 to web 2.0 APIs.

28/02/2023

Stablecoins and their features🧵

Stablecoins are cryptocurrencies that aim to maintain a stable value, often pegged to a fiat currency like USD. There are several types of stablecoins, each with its own features and characteristics.

Fiat-collateralized stablecoin:
These stablecoins are backed by a reserve of fiat currency, such as USD or EUR, held in a bank account. The value of the stablecoin is maintained by the issuer's promise to redeem it for the underlying fiat currency.

Crypto-collateralized stablecoin:
These stablecoins are backed by a reserve of cryptocurrencies, such as Bitcoin or Ether, held in a smart contract. The value of the stablecoin is maintained by the smart contract's ability to liquidate the reserve in case the value of the collateral drops.

Algorithmic stablecoin:
These stablecoins do not have a reserve and instead rely on an algorithm to maintain a stable value. For example, the stablecoin's smart contract may increase or decrease the supply of tokens to stabilize the value.

Each type of stablecoin has its own advantages and disadvantages. Fiat-collateralized stablecoins offer stability but rely on trust in the issuer. Crypto-collateralized stablecoins offer decentralization but are subject to the volatility of the collateral. Algorithmic stablecoins offer flexibility but can be complex to understand and may be subject to manipulation.

Like & Follow