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Showing posts from August, 2022

The Internet Gold and The Evolution of Money - Part 2

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     So we have been discussing about the evolution of money over the years. Bitcoin (Digital Gold) is the main topic we have been focusing on. The first ever digital currency to be invented. We want to focus in this article on the full timeline of bitcoin and some really cool characteristics of owning bitcoin.       So let's begin with the timeline of bitcoin. The domain name bitcoin.org was registered in August 2008. On October 31st 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto designed the bitcoin software as open source code and released it in January 2009. On the 3 January 2009, Satoshi mined the genesis block. On the Coinbase of that block was a note referencing the glitches of the traditional banking system. The recipient of the first bitcoin transaction was Hal Finney who created the first re-usable proof of work system(R...

The Internet Gold and the Evolution of Money - Part 1

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           For the first time ever in the history of the human race, we have a currency or monetary store of value that did not have to originate with a person or an institution. It could not be manipulated or controlled by a third party. This is like the money for the internet which means any individual could own  it needless of their background or societal status.      The bitcoin is a decentralized digital currency which is transferrable on the peer to peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and they are recorded in a public distributed ledger called a blockchain. It was invented back in 2008 by an unknown persons or pseudonymous group of persons called Satoshi Nakamoto. The word "bitcoin" was coined on a whitepaper published on 31st October 2008. It is composed of the words "bit" and "coin". The currency began use in 2009 when its implementation was released as open source softwar...

Solana Mobile: The Web3 Smartphone Saga

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       If you are told to mention smartphones that exist today, what are the first brands that come to your mind. Probably Google's Pixel, Apple's Iphone, Samsung's Galaxy. The general concept of a smartphone in the common mind is a device that runs on either Android or IOS. But what if you were told that there is a smartphone device that is built on the blockchain along with a mobile platform. Mind blowing right? As crazy as it sounds, there is a company that is building a smartphone that is based on the Solana blockchain. So we will talk about the hardware and software features of the phone.      The company, Solana Mobile is a subsidiary of Solana Labs, a Web 3 based company. The OV1 smartphone will be a niche that is the first ever smartphone to be built on a Web 3 based framework. It was originally built by a team of engineers at OSOM, a privacy oriented tech company but then it was converted to the Saga and then owned by Solana Mobile. The Solana...

Meme Coins: The Hype and The Risks

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       Meme coins are no longer new to the  digital community. There is so much hype around meme coins everywhere around us. But today, let's go into the details on what meme coins really are and how they work.          A meme coin is a cryptocurrency that originated from an internet meme or has some other numerous characteristic. They are also defined as cryptocurrencies inspired by memes or jokes on the internet and social media.  It has also been observed that meme coins have recorded high market capitalizations.       Meme coins are highly volatile due to the influence of the social community. Thus, the hype sets in but therein lies FOMO and financial risk. It might be true that some traders become rich with meme coins but many loose money due to market volatility. So here is a brief history of meme coins.       In late 2013, Dogecoin was released as a joke on the Doge meme by software eng...