After the tax bill was finalized and passed in December, many business owners began to contemplate what they should do with their new windfall. With the corporate tax rate falling from 35 percent to 21 percent — representing the biggest one-time drop in U.S. history — pass-through businesses catching a break, and overall tax reductions […]
In recent years, there has been a lot of hype surrounding cryptocurrencies and blockchain applications for business. Blockchain payments have been of special interest in many circles. However, the reality is that all things blockchain aren’t perfect. New platforms are coming out regularly, but eventually, they have the potential to run into problems — especially […]
Cryptocurrencies were the talk of the town this past year. As Bitcoin hit $20,000 a token on December 17, it became nearly impossible to not hear about the tech. Cryptocurrencies have been the first blockchain innovation to catch on. However, blockchain goes beyond financial services. Blockchain technology offers the safe and secure transfer of data […]
It’s hard to ignore the sweeping popularity that cryptocurrency has enjoyed over the past few years. Last year illustrates the powerful force behind digital currency. Bitcoin, the biggest name in the market, grew from under $1,000 at the start of the year to a peak of nearly $20,000 by the end of December. As a […]
The ways blockchain is transforming business and technology is alarming. It seems like only a year ago only the most committed early adopters of cryptocurrencies and blockchain had heard of the tech. There were less who had accepted it. However, the technology is maturing. It’s gone from simple store of value to quickly building value. In […]
Crypto Mania has not gone anywhere. Everyone, from enterprising millennials to major financial institutions, is scrambling to learn more about the capabilities of this incredible technology. More importantly, they want to know how they can cash in on the craze. That means choosing a cryptocurrency exchange. As cryptocurrency grows and widespread adoption increases, more people […]
Recently hackers stole cryptocurrency worth millions from a Tokyo cryptocurrency exchange. According to CNN, it could be the largest theft yet of this type of digital currency. Since this is not the first time cryptocurrency has been stolen, it raises concerns about how best to keep it safe. This may be particularly true for business […]
Digital currency, or cryptocurrency, is becoming more talked about and well known to the general public as time passes. In addition, increasing numbers of companies are accepting it as a form of payment for goods and services every day. There are several different kinds of cryptocurrency that businesses may accept as payment for goods and […]
Thanks, in part, to the explosive rise in interest in Bitcoin and other cryptocurrencies, blockchain technology has been increasingly praised, promoted, and questioned by leaders of dozens of different industries. Blockchain is a versatile technology, capable of being used for many industries. Its most important feature calms some of the cybersecurity fears most consumers. However, […]
As time passes, increasing numbers of people become aware of a newer way of securing transactions called blockchain. It uses cryptography to create digital records which are nearly impossible to hack, replicate, or misuse. These transactions are completed on multiple computers in a chain. This is another reason the digital records are difficult to alter. […]
As an exciting new alternative to traditional currency, centralized banking, and transaction methods, cryptocurrency was introduced as a mainstream product in 2009 with the appearance of Bitcoin. Since then, hundreds of other Internet currencies have emerged to provide numerous options of paying for goods and services across the world in a way that is both safe and anonymous. Cryptocurrenices are categorized as an alternative currency known as a digital currency for the very fact that they can work without having to undertake currency exchange rates.
With the growth in use and acceptance as well as the realization that cryptocurrency can be used for financial and non-financial applications, more attention has been paid to the technology behind this alternative payment and transaction method.
Since 2009, many other types of cryptocurrencies have been developed, including those known as second generation cryptocurrencies like Nxt, Ethereum, and Monero. These newer versions have added to the attractive anonymity, including stealth addresses. It has been reported that there are over 200 different kinds of digital currencies in use. The framework for cryptocurrency is known as blockchain. This technology is actually defined as a database for the transactions undertaken with Bitcoins and other altcoins. Think of it as a ledger that tracks all the transactions in place of what a bank would do with a centralized system of transactions. At first, the concept of blockchain may seem foreign and perhaps too technical to grasp, but it is actually pretty straightforward in terms of how it works to change and enhance the entire world of transactions.
Blockchains are maintained by "miners" who then validate and record the transactions to maintain transparency and accuracy as cryptocurrency changes hands across various transactions. This decentralized method of transactions is radically different from the traditional centralized banking system. This method of transactions is not as new as it at first appears, this currency exchange has actually been used for centuries. On a financial basis, more companies are now seeking ways to commercialize bitcoins for mass adoption in the near future. To simplify the commercialization of bitcoin there has been an emergence of bitcoin debit cards and a more informed and relaxed retailer acceptance of this type of currency for purchases as well as digital wallets now made for Internet currency.
For example, you may not realize that numerous alternative uses for blockchain are being explored, including cloud storage, communications platforms, digital content marketplaces and digital assets. There has been proxy voting by shareholders and even political voting, digital identity creation, organized and secure record keeping, real estate uses and other contracts, review gathering, gaming application, app development, medical records use, and more.
With such interesting possibilities in terms of how blockchain can be used and the need to develop a standardized framework, this topic has been added to our blog post categories on Due.com. Check back often to explore the additional articles that will be added. These articles are focused on topics that provide updated information on the policy, trends, technology and applications that can help you stay updated on the benefits and issues involved in blockchain and the cryptocurrency transactions recorded within these databases. Staying updated on this new type of currency will help you better understand its uses and how it can be a tool you use within your freelance business or startup. Staying aware and knowledgeable will help you be able to make critical decisions and be on the cutting edge of new payment methods for products and services in today's global business world.