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A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. In simple words, Smart contracts are digital contracts stored on a blockchain that is automatically executed when predetermined terms and conditions are met. How Smart Contracts Work? Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions have been met and verified. These actions could include releasing funds to the ...

COVID-19 pandemic brought to the fore the importance of authoritative data and authenticated data sources in the medical field. From the early days of reporting on cases and hospitalizations around the world, individual test results reported by test providers in and outside the regular labs, to vaccine supply chains and vaccination records as shots-in-arms ramp up the health authorities, researchers, pharma industry, and regulators depend on accurate, real-time, trusted data from a vast number of diverse government and commercial organizations. And in some cases, distrust of government authorities makes it vital that the data is stored in a tamper-evident manner so that its integrity can be audited and proven. Scientists around the world depend on data sources from a variety of national and international health authorities. But can they always trust the authenticity and integrity of the data they download and reference in their results? One of the early projects launched in the spri...

Smart contracts are one of the most important byproducts of Blockchain technology when it comes to the impact they could have on our daily life. What are smart contracts? A smart contract is basically a computer code on top of a blockchain that comes with a set of rules that bind the parties to interact with each other in a certain way. In case those pre-defined rules are met, the agreement is automatically enforced without the need for a middleman. How do smart contracts work? The parties involved in a transaction decide to use an options contract. It includes the preset price and pre-defined rules that have to be met in order to complete the transaction and change the ownership of the goods. When a triggering event is hit, the contract is exercised according to the coded terms. Regulators use blockchain to monitor market activity and maintain the privacy of individual actor’s positions. Smart contracts’ functioning is often compared with that of a vending machine that h...

The Ledger Nano S is Ledger’s most popular product and among the most popular hardware wallets in the world. The device is about the size of a cigarette lighter and features two small buttons and a screen.  We looked at the Nano S in terms of its security, price, supported currencies, user satisfaction, competing wallets, and more to help you decide if this is the right wallet for you. Company Overview Ledger was launched in 2014 by eight different computer security and cryptocurrency experts to create a product that would make it easier for people to securely store their crypto. The company is headquartered in San Francisco and has over 130 employees around the world. Ledger designed a unique operating system called BOLOS. In the case of hardware wallets like the Nano S, Ledger integrates this software into secure chips. The company also uses BOLOS for various enterprise solutions by integrating the operating system into a Hardware Security Module (HSM). In addition to t...

The incredible rollercoaster rallying and fall of cryptocurrency prices in 2018 and the growing popularity of different types of cryptocurrency has finally — it seems — caught the notice of regulators. Here’s the thing though , cryptocurrency is not centrally regulated by any government, so every government is taking different approaches to regulate Bitcoin and other cryptocurrencies. There are several areas of regulation that look like they’re coming pretty quickly. These include reporting for tax purposes and regulating initial coin offerings the way that securities are regulated. Even though the actual buying and selling of cryptocurrency with blockchain technology are extremely secure, humans are involved in the trading, the exchanges, and the initial offerings. That means that fraud is already happening. New Bitcoin regulations have the power to change the cryptocurrency market. But most analysts think that that’s going to be in a good way — at least with time. Let’s take ...

A stock loan fee is a cost an investor pays to borrow stock from their brokerage or another investor. This fee also enables investors to make money from lending shares of stock that are otherwise just sitting in their portfolios. Borrowers can pay this fee to temporarily have stocks that they can then use for short selling or to gain voting rights. Stock loan fees may not be on the radar for much of the general public, but they are a key component within the overall investing industry. Understanding stock loan fees can help individual investors potentially increase their investment returns. Definition and Examples of Stock Loan Fees Stock loan fees are often used to facilitate short selling. With short selling, an investor bets that the price of a stock will decline. To do so, they first need to borrow shares and pay a stock loan fee to the lender. The short seller then sells these borrowed shares to eventually buy the shares back at a lower price. The short seller then returns t...

The incredible rollercoaster rallying and fall of cryptocurrency prices in 2018 and the growing popularity of different types of cryptocurrency has finally seems caught the notice of regulators. Here’s the thing though, cryptocurrency is not centrally regulated by any government, so every government is taking different approaches to regulate Bitcoin and other cryptocurrencies. There are several areas of regulation that look like they’re coming pretty quickly. These include reporting for tax purposes and regulating initial coin offerings the way that securities are regulated. Even though the actual buying and selling of cryptocurrency with blockchain technology are extremely secure, humans are involved in the trading, the exchanges, and the initial offerings. That means that fraud is already happening. New Bitcoin regulations have the power to change the cryptocurrency market. But most analysts think that that’s going to be in a good way — at least over time. Let’s take a look ...

Coinbase is the most popular U.S.-based cryptocurrency exchange and one of the largest exchanges in the world. The platform is mostly for buying and selling cryptocurrencies. Crypto.com is a smaller, newer exchange app with a variety of other features like crypto lending, trading competitions, and a native token that provides users with certain benefits, such as lower fees and cashback rewards on a Crypto.com credit card. Crypto.com can only be used as a mobile app; there is no web-based interface. Crypto.com could be the best option for those who want more than just the ability to buy and sell crypto. More experienced traders or anyone looking for more advanced services might prefer Crypto.com. Coinbase is likely to be the better option for beginners who have little to no experience with cryptocurrency. The platform makes things as easy as possible for those looking to make their first crypto purchase or set up recurring buys. We reviewed Crypto.com versus Coinbase based on sup...

Non-fungible tokens or NFTs are unique digital assets that are based on blockchain technology. Anything can become an NFT—a piece of art, sports memorabilia, or even a tweet. Unlike cryptocurrencies that also use the blockchain network for ownership verification, one NFT cannot be directly exchanged with another NFT. NFTs have existed, in some form, for several years but gained a level of traction in 2020. According to research by NonFungible.com and L’Atelier BNP Paribas, in 2020, the total volume of NFTs traded in the U.S. was $250.85 million, up almost 300% from $62.86 million in 2019. Definition and Examples of Non-Fungible Tokens (NFT) NFTs are tokens offering ownership of digital assets. This ownership is then verified through algorithms on the blockchain. Most NFTs use the Ethereum network for verification. Some trace the origins of NFTs back to tokens called Colored Coins in 2012. Colored coins were essentially bitcoins that were “colored” to give them special properti...

Blockchain technology is quietly disrupting many industries. Just as in the internet's earliest days, it’s happening without a lot of fanfare. But momentum is gathering, particularly in the area of business fundraising. Bitcoin and blockchain technology are creating new and interesting opportunities in crowdfunding. What Is Blockchain? Traditionally, spreadsheets—much like transactional ledgers—exist in one place at a time. They might be on a person’s computer, or even stored on the web in an application like Dropbox, but they never exist in more than one place at once. Changes must be distributed efficiently to all relevant parties. Google Sheets, on the other hand, are accessible in multiple places at the same time. They live in the cloud and everybody who has access to them can see any changes that are made in real-time. Blockchain is more like Google Sheets than a traditional spreadsheet, but with added security. Unlike Google Sheets—which can be edited by anyone with a...

Bitcoin is one of the most popular and well-known types of cryptocurrency. But how do you get Bitcoin? You can either purchase Bitcoin or you can "mine" it. The mining process involves using dedicated hardware (e.g., ASICs, FPGAs) that use processing power, as well as software applications, to manage these rigs. If you've decided to get into cryptocurrency mining, here are some of the best Bitcoin mining software to start with. What Is Bitcoin Mining Software? Bitcoin mining software is used to keep the decentralized digital cryptocurrency secure. Miners are rewarded with Bitcoin for tracking and securing transactions known as blockchains. Mining is a way to earn Bitcoin without paying for it, making a trade for it, or putting any money upfront—and software helps you do this. The Bitcoin mining software works in conjunction with Bitcoin mining hardware, which are specialized computers built to mine cryptocurrency. The software is how you connect your hardware wit...

Blockchain is the technology behind Bitcoin and other cryptocurrencies. But there’s also a lot of interest in using blockchain as an application for other industries—especially financial, luxury goods, and any other industry where authentication is very important. A blockchain allows multiple parties to collaborate without having to simply trust each other. With blockchain, trust is baked into the technology. That is because no single entity controls the information involved in blockchain transactions. Many companies, including giant ones like IBM and Walmart, are looking at how to offer blockchain-related services or implement this new technology within their own businesses. Still, other blockchain-associated companies are being formed as startups. All of that means there are plenty of opportunities for investors to buy stock in a company that may benefit from increased use of this technology. Some of them are penny stocks, which are not listed on a major exchange (and so are s...

Learn about the origins of Bitcoin and other cryptocurrencies If you’ve been swept up in the recent popularity of cryptocurrencies or are just curious about how they work, it’s important to understand the history of cryptocurrency and how digital currencies like Bitcoin and the underlying blockchain technology came into being. While the creator of cryptocurrency flagship Bitcoin is somewhat mysterious, there’s plenty we know about the history of cryptocurrency that could influence your decisions around investing and trading in this relatively new asset class. The Challenge of Digital Currency Digital currencies offer a unique challenge compared to traditional currencies like dollars and euros, called “fiat” currencies in the cryptocurrency community. That’s because, unlike dollars and cents that can be physically exchanged and tracked, cryptocurrencies exist only in the digital domain. Digital assets are inherently difficult to secure. Just as you can copy a picture of your dog...

Everything You Need to Know About Its History and Technology What Is Dash Coin? Dash is a cryptocurrency based on a decentralized peer-to-peer network. Like many digital currencies, it’s designed to allow for fast, easy, and affordable online payments without going through the traditional financial system. Dash was launched in 2014 by its founder Evan Duffield and was based on the Bitcoin project. It has many similarities to Bitcoin and other popular cryptocurrencies, including its decentralization and cryptography security. But it also has some notable differences, including its speed. Cryptocurrencies like Dash have become a popular investment opportunity in recent years. Before you start purchasing Dash coins or any other digital currency, it’s important to understand what you’re getting yourself into. In this guide, you’ll learn everything you need to know about Dash and how to start investing. Special Features of Dash Coin Dash’s most notable feature is its InstantSend...

Everything You Need to Know About Its History and Technology What Is Zcash? Zcash is a digital currency that was built on the original Bitcoin codebase. Zcash considers itself as a fair and open currency. Anyone can spend, send, or receive Zcash, and everyone has equal access regardless of demographics. It was founded by cryptographers and scientists in 2016. This cryptocurrency stands out by offering complete anonymity to investors. Transactions are shielded, and your information is protected. Zcash differs from other cryptocurrencies because of its shielded transactions, allowing individuals to maintain complete privacy. Zcash is also decentralized across a wide network, making it more secure and accessible. To send or receive cryptocurrencies you need an address from or to which the transaction is directed. And the privacy for Zcash depends on your address. There can still be transparent transactions with Zcash, and it all comes down to the address in question. Some addr...

The recent rise in the value of Ethereum has vaulted it to over a billion-dollar capitalization and second only to Bitcoin. Its value is more than four times the value of the third-place crypto-currency, XRP. Ethereum was created by Vitalik Buterin, a college dropout who, although enthused by the potential for Bitcoin, felt that there could be a better platform.1 Buterin, who has been compared to Steve Jobs, feels that his creation provides a robust platform for others to develop on and create powerful applications. Buterin recently released his first production-ready version of Ethereum but even before this release, there had been a rush of startups to utilize the open platform and create blockchain-based businesses for new products and services, or the support of their existing businesses. In 2015, there was a rush of venture capital into Bitcoin and Blockchain companies. This year, the influence and potential of Ethereum are seeing venture money coming in specifically targete...

An initial coin offering (ICO) is a term for the initial release of a new digital asset. Like an IPO in the stock market, an ICO is the first time new buyers can tap into a currency. But an ICO isn’t limited to cryptocurrencies like Bitcoin and Ethereum. Companies also use them to raise funds, just like companies entering the stock market. Learn more about initial coin offerings and if they make sense for you. Definition and Examples of Initial Coin Offerings An initial coin offering is the launch of a new coin, a type of digital asset. While ICOs may launch new cryptocurrencies, those are often created through a different process called mining. ICOs work more like the launch of new stock. When an ICO takes place, a large group of investors can buy the coin. Unlike a regular stock market account, however, coins in an ICO are generally created and distributed using o a blockchain, the technology behind cryptocurrencies and other modern asset tracking solutions. Cryptocurrency we...