Pyramid and Ponzi schemes are very similar because they are based on the same concept. Many people get fooled by impersonating investors who guarantee massive profits in exchange for their funds. Otherwise called a money-doubling scheme, a Ponzi or a Pyramid scheme can be hugely devastating to any casualty.
Cryptocurrency scams are becoming increasingly more prevalent and effective, utilizing new cunning tactics to deceive investors. In order to maintain a safe portfolio, it is essential to know the different forms of scams and how to avoid them.
The blockchain network is entirely open-source software with easily accessible code. One can change the code and suggest improvements through soft and hark forks.
In today's online world, Cybercriminals are becoming more sophisticated and daring. There is a need for more secure authentication systems to safeguard users' online accounts. The Multi-factor authentication (MFA) system provides a high level of data security and is vital for all to adopt.
Crypto market capitalization describes the current market value of a given cryptocurrency or blockchain network. It is an important parameter that provides us with a fair idea of a market’s financial strength.
Binance users often make the mistake of sending their assets to the wrong blockchain network. Though it usually causes intense anxiety, especially if a substantial amount of money is involved, there are ways to recover those assets.
Before the last decade, it was more tedious for developers to create tokens for their projects. However, the development of ERC-20 and BEP-20 standards has now made token development easier for developers.
The financial freedom and control that decentralized finance offers users has led to a rapid growth of the DeFi sector. Liquidity pools and automated market makers (AMMs) are a major reason why DeFi has so much utility.
Secure transmission of information is essential in almost every sector of human endeavor. Cryptography, which is the art of securely coding information, has developed over the years and has found practical application in blockchain.
Bitcoin ETF is a legitimate form of investment that cuts out the complex issues and security procedures many people face when dealing with cryptocurrencies. Nevertheless, it is yet to break into the US financial market.
Binance's BTCB has provided a pathway for Bitcoin owners to have access to the benefits of BSC. With BTCB, developers can now incorporate Bitcoin into their DApp design.
The Binance Smart Chain (BSC) is the leading development platform for decentralized applications. Critical to the reliability of BSC is a set of network nodes known as Validators.
It's been a long search for a blockchain protocol that will enable scalability while still upholding decentralization and security integrity. The Binance Smart Chain (BSC) has brought just that, scalability alongside quick and cheap transactions.
The birth of Bitcoin marked the beginning of the cryptocurrency revolution. The whitepaper, which detailed the world's first cryptocurrency mechanism, had a very critical omission: there is no hint of who wrote it. The puzzle remains with us till today.
Burning tokens, being a destructive process, may not sound like a good idea to anyone who is not familiar with crypto. Nevertheless, for cryptocurrencies, it often is very beneficial for a project's long-term value.
Precise and concrete data is most effective in producing high quality backtesting results, rather than involving too many data sets in the test. A combination of other trade strategies with backtesting are well worthwhile in a trader’s trading journey.
When looking for investments, it is essential to invest in assets that will not depreciate in the future. With its limited supply, fungibility, portability, and divisibility, Bitcoin merits consideration as a good store of value.
The greater the number of users of a particular product, the more value it tends to attain. This takes a good understanding and application of the “Network Effect” concept.
Cryptocurrencies drive a financial revolution that provides the benefits of security, lower transaction costs, and borderless settlements, etc. Thus, stablecoins often are used as collaterals in crypto exchanges and decentralized finance applications.
Dollar-Cost Averaging is an investor-friendly strategy that allows users to gain exposure to the market systematically. This strategy typically produces better results than that of a beginner trader but to each their own.
The world-leading crypto exchange, Binance, uses its unique Binance Earn suite to provide users a range of yield-bearing products. In short, this seamless feature allows one to utilize their crypto assets to earn passive income.
Anyone can profit from any market trend, whether a bull or bear market. Due to sharp market declines and quick recoveries characterized in the bull market cycle, retracements often shake weak hands.
The stock to flow, a model typically used for precious metals, can be applied to BTC. Bitcoin is the first currency that has been measured with this model due to its scarcity.
The flash loan concept is relatively new and is already generating good interest from users worldwide. Despite its apparent positive impact on DeFi, it can also be hijacked for malicious intentions.
The most significant adoption will be mainstream businesses using smart contracts for daily use. Imagine going to the grocery store with no wallet, no paper bills, and only your mobile device to sign agreements using smart contracts.
As the world moves away from cash to a digital money market, it is to be expected that more and more governments will adopt Central Bank Digital Currencies.
NFTs are witnessing growing speculation among NFT fans, leaving NFTS on track to be a massive industry in the future; collectible assets like CryptoKitties and CryptoPunks have proven the potential in the past.
As blockchain technology and adoption advances, the need for cooperation and interoperation between different platforms is ever more necessary. Token bridges will be an essential way of networking the different blockchains.
Decentralized Autonomous Organizations (DAO) describe a set of rules that govern a network in a decentralized fashion while providing incentives for participants in the consensus.
Tether (USDT) maintains the worlds’ biggest stable coin reserve, maintaining its position of being the third most valuable coin with over $26 Billion in market capitalization.
The blockchain is the core of the cryptocurrency and digital era, for, without it, there would be tons of discrepancies and security flaws within transactions.
Rebase tokens seek to incorporate commodity-like market features through the unique rebase mechanics used to enforce a stable peg price while maintaining scarcity.
Initial Farm Offerings (IFO) are a new type of token sale event popularized by Decentralized Exchange (DEX) platforms, IFO's are utilized as a fundraising event for upcoming De-Fi protocols.
Decentralized exchanges (DEX’s) have continued to expand, and automated market makers (AMM’s) have been the primary technology adopted due to its ease of use and proven decentralized system.
Impermanent loss (IL) is a loss of funds that a user will incur when they provide liquidity on Automated Market Making (AMM) exchanges. AMM’s utilize an algorithm and game theory to generate liquidity, in turn, creating IL through the arbitrage opportunities presented.
Decentralized exchanges (DEX) leverage block-chain technology; instead of relying on a centralized entity, a network of computers is used to complete and verify transactions.
There are two fundamental categories that token models can fit into, deflationary or inflationary tokens. On this latest series, Cryptonomics, GoonTrades will dive into the realm of deflationary tokens.
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