Category: Overview

Posted in Overview

Cryptocurrency earning. P2P exchanges and memecoins

Written by etc Published

To find out if can you get a best crypto loan without collateral, you should learn more about the types of earnings. P2P trading is the exchange of cryptocurrencies to fiat or vice versa, where payment is made directly between users and funds are not stored on the trading floor. Peer-to-peer p2p exchanges are a natural extension of the concept to remove some of the limitations of conventional BTC exchanges. Online exchanges have been the primary tools for dealing with cryptocurrency throughout bitcoin’s existence.

Buying and selling currency is an important part of the crypto economy. As the need for peer-to-peer transactions with a wide range of available payment methods grows, top crypto exchanges, including Binance, Bybit, OKX, Huobi, MEXC, KuCoin, are implementing this capability.

Seeing the many shortcomings of centralized market systems, community members have transformed the market by creating a new way to exchange – decentralized peer-to-peer systems controlled by software, not people.

However, people also play an important role. In case of a conflict situation with a seller/buyer, the user appeals – tech support reviews the transaction, accepts evidence of rightness or wrongness from both sides, and decides whether to hand over the money to one of the parties.

Cryptocurrency Lending

This method of making money from cryptocurrency is alr.

Shiba Inu (SHIB)so called cryptocurrency lending. The mechanism is simple – the trader transfers some of his cryptocurrency to the platform, which uses the funds received to provide credit to other users. In return, the trader receives a percentage of the deposit. The terms may vary. For example, on some platforms, the interest is paid monthly, on others only after an agreed period has elapsed and the deposit is withdrawn.

For example, on the Binance exchange, there are many lending programs at 7-15% per annum. You can lend BTC, ETH, XMR, DASH, and other currencies, it depends on the site. The minimum deposit also differs, it may be, for example, 300 XMR or 50,000 USDT. The term of the deposit is usually 14 days. The longer the period, the higher the earnings. Landing does not require anything from the user, except funds. Guarantee is determined by the status of the site.

  • Advantages: you do not need anything but the starting deposit, you can choose several credit programs at once to increase earnings.
  • Disadvantages: you will need a large deposit to make good money.

Now let’s move on to the well-known meme-cryptocurrencies.

Dogecoin (DOGE)

  • Blockchain: own + Binance Smart Chain
  • Rate: $0.2742
  • Market capitalization: $36,207,839,906

Dogecoin is the very first meme-cryptocurrency, which remained the only one for a long time. It operates on its blockchain, created in the image and likeness of bitcoin. It is based on the Proof-of-Work algorithm, so the coin can be mined. Dogecoin has the support of Elon Musk, to whom it owes much of its price growth in the last year.

  • Blockchain: Ethereum
  • Rate: $0.00005562
  • Market capitalization: $30,510,852,370

A token that in just a few months of existence was able to grow into a complete ecosystem, including the decentralized ShibaSwap exchange, the NFT incubator, and a reward system. Some of the tokens were sent to Vitalik Buterin as a burn after the initial coinage, and he subsequently used them for charity: funding the fight against COVID in India.

Dogelon Mars (ELON)

  • Blockchain: Ethereum / Polygon
  • Rate: $0.000001791
  • Market capitalization: $999020,796

Dogelon Mars appeared on the Uniswap platform on April 22, 2021, with a price of less than $0.00000000002, but soon rose to $0.00000208. This gave early investors a 100,000% return and brought attention to the coin. Like Shiba Inu, the project sent half of the tokens to Vitalik Buterin. Nothing more can be said about it – there is no product, no idea, no White Paper, and no advantages over other сoins.

Samoyedcoin (SAMO)

  • Blockchain: Solana
  • Rate: $0.1831
  • Market capitalization: $499604,581

The first meme coin on the Solana blockchain. The developers call it the main symbol of the Solana community and ecosystem and name its purpose: to be a kind of mascot, attracting people to this ecosystem. The dog breed chosen was not the hackneyed Shiba Inu, but a Samoyed. The token is present on several major exchanges as well as Solana DEX.

Hoge Finance (HOGE)

  • Blockchain: Ethereum, Binance Smart Chain
  • Rate: $0.0004845
  • Market capitalization: $195,302,476

A decentralized project with a lot of focus on brand development, which is reflected in its motto – “We meme business”. HOGE community aims at the simultaneous growth of the economy and the well-being of its participants using cooperation with different companies and alternative financial structures. The team promotes its own NFTs and merch and holds events.

Dogs Of Elon (DOE)

  • Blockchain: Ethereum
  • Rate: $0.64
  • Market capitalization: $122,943,442

NFT project similar to Cryptopunks – 10,000 unique NFTs were created with images of pixel dogs and Elon Musk. Some NFTs are very rare, which may raise their value. The smart contracts have been audited by CertiK, which is rare for NFT projects.

Tiger King (TKING)

  • Blockchain: Ethereum
  • Rate: $0.000193
  • Market capitalization: $116,277,543

It is claimed to be the officially authorized coin of Joe Exotic, a character in the Netflix series “Tiger King,” particularly popular in 2020. That is its main value, as it is unknown if there are any other coins officially authorized by celebrities. The team has plans to integrate card purchases, gaming components, and other features.

MonaCoin (MONA)

  • Blockchain: Proprietary
  • Rate: $1.62
  • Market capitalization: $106,634,654

MonaCoin was conceived back in December 2013 and is the first known altcoin created by a cryptocurrency in Japan. The theme is based on a popular ASCII art character, a kitty named Mona. It is a full-fledged decentralized blockchain project where users make the main decisions. MonaCoin has become a popular coin for payments in Japan.

CumRocket (CUMMIES)

  • Blockchain: Binance Smart Chain
  • Exchange rate: $0.04062
  • Market capitalization: $53,637,210

A platform for monetizing 18+ content. Includes chat roulette, subscription, and tip features, content libraries, and NFT tokens. CUMMIES cryptocurrency allows instant payments, and transactions are completely anonymous. A deflationary economic model is used: a 5% fee is charged for each transaction, 2.5% of which is burned.

ERC20 (ERC20)

  • Blockchain: Ethereum, Binance Smart Chain
  • Rate: $0.04719
  • Market capitalization: $53 255 446

ERC20 is originally a standard in the Ethereum network. This project chose such a name to be recognizable. Otherwise, it does not differ from most cryptocurrencies: it can be traded, exme.changed, paid for goods or services, and stored in decentralized web3 wallets.

Conclusion

CoinLoan is a peer-to-peer cryptocurrency lending platform based in Estonia that offers users a high loan-to-value percentage as well as attractive interest rates for those who want to earn passive inco

Posted in Overview

How Is Ethereum Classic Different from Ethereum?

Written by etc Published

Although Ethereum Classic’s ETC has value as a speculative digital asset that investors can trade, Ethereum’s ETH is considered the more legitimate and widely traded. In early 2021, the Chicago Mercantile Exchange (CME) approved the trading of ether futures. Only Bitcoin and Ether have been approved for such transactions. The futures are derivative contracts on an underlying security with a fixed price and maturity date. Ether futures allow investors to trade ether for speculation but also to hedge an outstanding position in ETH or perhaps other cryptos.

We can determine how the investment community views ETC versus ETH by analyzing how much capital or investment dollars are being committed to the two currencies. When comparing the two market capitalizations of the two cryptos, ETH is the clear winner. The market cap of a cryptocurrency is calculated by multiplying the currency’s price—based on a fiat currency such as U.S. dollars—by the outstanding coins or tokens in circulation.

ETC has 133.9 million coins in circulation with a market capitalization of $6.1 billion while ETH has approximately 120 million in circulation and a market cap of more than $417 billion. ETC trades at $46.00, while ETH trades for more than $3,475 per coin as of April 2, 2022.

Although both networks offer smart contracts, the potential for the aforementioned security concerns surrounding ETC will likely push investors to invest in ETH and adopt Ethereum’s smart contracts versus those of Ethereum’s Classic.

Posted in Overview

History and Future of Ethereum Classic

Written by etc Published

The Ethereum blockchain was initially established as a single network where transactions were facilitated by ether, or ETH. The new cryptocurrency quickly became popular for initial coin offerings, as different groups used the platform to launch their own tokens.

The DAO, a decentralized venture fund where investors would vote on assets to invest in was one of the most successful ICOs. The hackers discovered a smart contract bug that allowed them to withdraw about a third of The DAO’s accumulated ether which quickly amassed to over 11 million ETH from 18,000 investments.

Given that the hack was so large, a lot of investors recommended rolling back the Ethereum blockchain to save those who were affected. However, others contended that this would set a dangerous precedent for future occurrences. A poll conducted shortly thereafter resulted in 97% of participants voting to return the lost funds through a hard fork.

The Ethereum blockchain split into two separate networks as a result. The newer network took on the name Ethereum and uses ETH or ether as its cryptocurrency. The older one is now known as Ethereum Classic and uses ETC.

Many experts believe that Ethereum Classic does not have the same promising future as Ethereum because Ethereum is seen as the more legitimate of the two networks. This is especially true in light of recent security concerns surrounding Ethereum Classic.

Investors have lost confidence in ETC over the years due to hacks into the system. Ethereum Classic may have challenges ahead until its code and software can be redeveloped to prevent future hacks. However, it remains to be seen how smart contracts will be developed within the Ethereum Classic project and whether they can be adopted for widespread use.

Posted in Overview

What Is Ethereum Classic (ETC)?

Written by etc Published

Ethereum Classic is a decentralized, open-source platform that runs smart contracts on a blockchain. It was formed in 2016 after a hack of The DAO, a smart contract running on the Ethereum blockchain. The original blockchain was split in two, with most users opting to reverse the hack and return the stolen funds.

The Ethereum community was split on how to proceed after The DAO failed. Some people believed that the investors should suffer the consequences of investing in a flawed project, while others thought it would be best to roll back the blockchain and create a bailout. In the end, the majority of the community decided on the latter course of action.

Ethereum is a blockchain platform that, like bitcoin, can be used to record transactions. However, Ethereum’s key advantage is its ability to run self-executing smart contracts.

Smart contracts on Ethereum Classic are enforced through decentralized governance, meaning that they can be carried out without involving a third party, such as a lawyer. Smart contracts work similarly to if-then statements–if the actions required in the contract have been fulfilled, then the corresponding contract parameters would be completed. However, if the contract parameters haven’t been met, there might be penalties like fees or voiding of the initial agreement depending on what terms were established at the beginning ofthe relationship.

An example of this would be if, in a real estate transaction, the contract said an upfront deposit was due on a certain date, but the funds were not received. The smart contracts are within a distributed ledger or blockchain network. A distributed ledger is tracker for transactions and contracts that’s kept and maintained without any central authority controlling it..

The terms of an agreement between a buyer and seller are written in code, which is self-executing and does not need external monitoring.

Even though they are both after the same market and offer smart contracts, Ethereum has become more popular because it is seen as more legitimate. Also, ETH is only second to BTC in value.

The biggest issue that Ethereum Classic currently faces is scalability. The network can handle 15 transactions per second which lags significantly behind other payment networks like Visa, who processes one thousand transactions per second. There have been many software upgrades for Ethereum Classic, but the scalability of its payments systems continue to be a challenge.

Not to mention, security is prone to stay an issue with smart contracts–especially because Ethereum Classic has already had a hack where millions of dollars were stolen. These concerns have the potentiality to stop smart contracts from being used in large financial and real estate deals.

The cryptocurrency market is still developing, so it’s unclear how regulations will change Ethereum Classic and other virtual currencies. For example, the Security and Exchange Commission does not consider Ethereum or Bitcoin securities because they’re decentralized networks.

Some cryptos may not be approved as securities, which means they could have challenges being included in various financial products that contain a basket of securities, stocks, and bonds. These products include exchange traded funds and mutual funds. In the future, Ethereum Classic’s regulatory landscape is uncertain. The same goes for other blockchain networks that aren’t as popular.