Archive for August 14th, 2022

new-crypto-projects

How to find new Crypto Projects | Blue Manakin

We know that there are currently thousands of cryptocurrencies and that more and more are appearing. Normally new coins can be found in their first phase in the form of ICOs, which is the process in which the creators can somehow raise funds to develop the rest of the project. This is basically when the first investors come to the project. NFTs can also be found when they are still in pre-sale or on a whitelist. The advantage of being able to find these projects during these stages is that we can find them at much cheaper prices than they will be in the final sale. So we will share some ways to be able to find these projects before their public sale: Content creators: It is important to follow the creators of the topics that we like or that we are usually aware of, that is why if we want to find projects that are just about to come out, we have to follow the people who are dedicated to talking about it. Usually, new projects hire people to do promotions for them which still adds confidence to the project. Calendars: We can find on the web different pages that are dedicated to calendarizing the releases of new coins and NFT collections. In them, apart from seeing the release date, we can also find information about the project. Spooling platforms: Several platforms are dedicated to finding new collections and ICOS and creating lists, as for the NFT others can even give a rarity to your NFT depending on their characteristics. Telegram groups and Discord servers: On these platforms, we can be part of communities that are always on the lookout for these new exits and opportunities so by being part of them we can equally find these opportunities before they come out or when they are in their early stages. Crypto marketing agencies: Serious projects usually have a team or agency that is dedicated to their marketing, so following the agency is an opportunity to learn about new projects that are about to come out. In The Blue Manakin, we always have projects which always have a mission or art that we like, so if you always want to find projects that are coming out and are of quality follow us, so you do not miss them.

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blokchain-hash

Blockchain dating and hashing

Blockchains are information networks in which all the transactions that have been made are displayed, but as everything has certain rules you have to taste how to optimize them in the best way. Although Bitcoin is already a very popular currency, it will serve as an example due to its high popularity. One of the first things to keep in mind is that each block of the chain is attached to a text document, for example in Windows Notepad. All transactions that have been made are written there, but keep in mind that the file cannot weigh more than 1 megabyte, so each text document will have a limited number of operations (between 2000 and 2200 transactions). Bitcoin also has the rule that to create a new block, at least 10 minutes must have passed from the previous block, so there is a limited number of blocks per day (144 blocks to be exact), so with a block of 2200 transactions every 10 minutes, we have an approximate of 4 transactions per second, which would be a lot if a person were put to review them, so it is much easier to do it on high-powered computers. Once the whole process is done, a hash is generated from the following parameters which are, the hash of the previous block, the date and time of the block creation, the reward transaction for the miner who has made the block, and all the transactions that are inside the text document up to 1 megabyte and a number at the end of the hash that allows you to start with the number of zeros that the platform is asking for. To avoid any type of fraud, for every 2016 block that is added to the chain the hash will change, so it is practically impossible to falsify a hash by putting random information since there would be an infinite number of possibilities.

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cryptoworld

CryptoWorld 101

Anyone wishing to enter the world of cryptocurrencies is faced with a myriad of questions. Since this new digital economy is like discovering a new land because you can find many good things, there is also some uncertainty due to the vast areas it covers and the fear of making a mistake along the way. That is why we will put the questions that we usually ask ourselves before entering this world What are cryptocurrencies? Cryptocurrencies are dematerialized currencies, i.e. they are digital or virtual, they are encrypted and decentralized since they are transferred between individuals without any other intermediary. They are not tangible and exist only in electronic systems. They allow people to send money with very low transaction times, even more than a bank, the commissions are low and there are no intermediaries or credit cards. Why use cryptocurrencies? Cryptocurrencies are a true revolution, as the Internet once was. This new form of decentralized financing will surely generate great changes in the coming years. Cryptocurrencies should lay the groundwork for new modes of secure and open organizations. Of course, not all cryptocurrencies are equal. Some have had a bigger boom than others in the market, such as Bitcoin, Ethereum, or Litecoin, but many lesser-known ones are promising. Where to buy it? When you start in the world of cryptocurrencies there will be many pages that promise you that by investing a low amount of money you can reach exorbitant amounts, what you need to taste is which platforms are the right ones so that you feel confident about what you are going to invest in and where you are going to put your money. The best platforms for this are simple buying platforms or trading platforms. If they want, when they already have some cryptocurrencies they can exchange them for other altcoins or directly for euro/dollar money. To do this, you can directly use Coinbase or Binance platforms for example. We hope that these simple questions can lay the foundation for you to start getting deeper and deeper into this big world. In our blog, we have more posts that can help you to ease your walk and feel more confident in what you do.

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TOP 10 Cryptocurrency Blogs and Websites to Follow in 2022

Cryptocurrencies and NFTs have updates practically every day, plus their market is volatile, it can change from one hour to the next so there is always a constant conversation generated from them. Also, companies are always coming up with new ways in which cryptocurrencies can be applied to new types of businesses or generating collaborations with brands that attract too much attention. This is why we bring you some of the best sites and blogs to be able to keep you up to date in this fast-changing space. Next, we have: CoinTelegraph It is always up to date and has interesting and informative topics on everything related to cryptocurrencies and blockchain. NFT Lately This page mainly focuses on the latest relevant news with new collection releases and all the events in the NFT world. Bitcoin.com Focused on giving us the latest details about bitcoin, but also comes out with the latest news on important topics about this world and the blockchain. Forbes A magazine dedicated to sharing various topics of technology, finance, and both other topics of the last moment. One of the characteristics of their notes and why it is worth reading them is that they share tips and strategies on finance, especially with cryptocurrencies. CoinDesk Like Forbes, in CoinDesk publishes a lot of news on different topics most of them about technology and business, but the vast majority are about the most relevant news about the crypto world and its education. They also upload content of opinion articles and interviews aligned on a substantial front page, as well as a podcast. CryptoNews Whenever something new comes out regarding the crypto world, you are sure to find it here first. They also share tips on how to move through this world. Bitcolumnista Known for their popular blockchain guide. What is the most attention-grabbing is that they allow their community to choose content with a downvote/upvote system ensuring that the first thing you see is quality content. CoinMarketCap This site is primarily used for market analysis including price charts, market cap, and trading volumes. You can also get, but they also share news about new coins and ICOs. Criptodiario This site mainly publishes news about popular coins such as Bitcoin and Ethereum. As well as NFT-related content and the latest news from the metaverse. The Blue Manakin Here at The Blue Manakin we have our cryptocurrency blogs, focused on answering the questions we usually have when we start getting into this vast world. You can also find news about what is going on in the world of cryptocurrencies and NFT. We hope these pages are of interest to you and help you to always stay educated and updated about this changing world.

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8 Tips to grow a crypto community

Having a large and active community is one of the most important things to having a cryptocurrency or NFT project because this can be a good sign of a prosperous future in the project which can bring more investors or people who are going to buy our collection. In marketing, it is said that one of the best techniques to promote something is through the mouth of the people, if people speak well of your project that will attract more people because there is something good there. That’s why we bring you some tips so you can make your community bigger: Create a space where your community can live together: One of the first steps we must do is to have a space where we can receive people who will be part of our community, these spaces are usually different depending on what your project is focused on. If it is an NFT project the best is to create a Discord server, here you can create different types of channels to entertain your community and keep it informed about the project. In the case of cryptocurrencies, it is best to have a telegram group, as these are usually more serious so the means of communication must change and the telegram is the space that best suits this. Social networks: Now that we already have a space where our community can stay, the next thing is to have our social networks always active, sharing information about our project and its status. In the same way, if we have an NFT collection it is best to have some networks so to speak, more colorful and cheerful, we can adopt the identity of our project and by that means share it. With a cryptocurrency project, it is best to keep the social networks a little more serious, in which we can share project updates, some important data as “facts” about the problems we seek to solve, and something important is that social networks are like a space that we can use as a customer service. We must not forget to try that in most posts we make, we leave links to our server or group. Use your mission to create a story: The reality is that there are already thousands and thousands of NFT collections and cryptocurrency projects, so it is important to find a way in which our project can thrive. We have to find a problem that we want to solve and with that base, we can develop the best way to share it through a story, an image, and above all a community. The people who join the community will not do it just to make money, but for what it means to be in your project and not just to be there but to be part of it. This will get them to share the project as if it were their own. Moderators: There must be always a person who knows the project active in the group or server, and also helps to maintain order within it, For this, we will use the moderators who will be the people who will be on the server while the creators are not there and what they will do is keep the conversation alive on the server, when someone asks a question also solve it and when people arrive to put disorder they maintain it. Reward your community: There are thousands of dynamics that we can do in our groups to be able to give things to our community and see a way that the creators have to thank them. This can be done through airdrops or by giving away a space for the WL or even an NFT. We can also take advantage of it for our social networks and that way grow the community even more. Make special events: You can make different events for your community, such as a space to share ideas with your followers, and make games inside your server to have a fun time but the important thing is to generate a connection with the community. Collaborations with other communities: Something we always like to mention is that in the end, it doesn’t matter what your cryptocurrency collection or project is about, in the end, we are all looking for the same thing which is to achieve a decentralized financial society. Look for communities that are open to collaboration so together you can grow your communities with more people looking for the same thing and thinking alike. Get experts: Our biggest recommendation is to find people who know how to move through this medium well. A crypto project marketing agency is one of the best ways to grow our community since a good agency already has its moderators and can manage your social networks and make the copies that best suit your project. At The Blue Manakin, we have the tools to help you grow your community, contact us for a quote. We have network moderation and both Discord and Telegram servers and we adjust to what your project needs.

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crypto-born

Where cryptocurrencies come from

Cryptocurrencies are a digital asset that uses cryptographic encryption to guarantee their ownership and ensure the integrity of transactions. But where do cryptocurrencies come from or what is their origin? It all begins in 2008 when the United States was going through a financial crisis that caused the devaluation of the dollar, which in turn affected the rest of the world. Due to the low value of the currency and the cut in interest rates, central banks manipulated and devalued currencies around the world. Eventually, with low-interest rates and taxpayer bailouts, the banks responsible for the financial problems were the ones who benefited from the “collapse”, this was the trigger for a man known as Satoshi Nakamoto whose identity remains unknown to this day to decide that there was a need to invest with a disruptive force, with something that could change the way we think about money. In 2008 he first published his paper on Bitcoin technology detailing the peer-to-peer system that runs Bitcoin transactions and months later provided the software to perform these transactions. Bitcoin would thus be the first completely decentralized currency open to all, without a central bank controlling it. This means that we are all part of the Bitcoin economy, instead of a bank defining how much it is worth and how much of it we have available in our economy. However this was not simple since it was necessary to have a global ledger of transactions in which transaction information is stored, normally a bank would be responsible for performing this procedure but being a decentralized system there is no associated bank this allows anyone to send a transaction request to the decentralized network and this makes the decentralized ledger very vulnerable to attacks. This was the main impediment to the creation of a functional cryptocurrency. So Satoshi needed to innovate and create the technology we now call “Blockchain“, which allows keeping the ledger secure using timestamps, a lot of decentralized computational processing power, and cryptography. Because of this, we can say that Bitcoin (BTC) is the origin and maximum representative of cryptocurrencies, which went from having a practically worthless value has achieved figures never imagined.

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buy-bitcoin

What can I buy with Bitcoin?

It is becoming more and more common that different businesses allow us to make payments through cryptocurrencies, depending on the platform is the currency that we can use but certainly the one that we will find will be Bitcoin, but certainly we can get to surprise by the number of things we can buy with Bitcoin. Below are some of the things we can buy with Bitcoin and other cryptocurrencies: Travel and Tours: Some travel platforms such as Expedia, CheapOair, and Travel360 Travel Agency accept bitcoin payments. Just like the Tours & Travel Teotihuacán page accepts bitcoins for the services it offers. Games: You can buy Xbox credits with bitcoin with which you can buy many things through the Microsoft store. Some platforms allow the purchase of codes to download games by paying with bitcoin. Handmade jewelry: Tobiko is a Mexican jewelry store where you can buy their products with bitcoin. Electronics: The site Newegg accepts bitcoins as a payment method, here you can buy things like a computer, a video game console, and even a cell phone. Music: Artists like Bjork and Kings of a lion, allow you to buy their albums with different cryptocurrencies. Works of art: Platforms like Bitpremier allow the sale of artworks that are for all tastes. Gold: Certain companies like JM Bullion accepts the purchase of ounces of gold for Bitcoin, a gemstone for another gemstone. Tickets: 13 Tickets is the first platform for tourist experiences that can be paid for with Bitcoins, and over 375 different cryptocurrencies. Which became quite popular for reaching an agreement with Real Madrid to offer tickets for the Bernabeu Tour in bitcoins. It is more common to see various soccer teams start to allow ticket sales via cryptocurrencies and NFT. Gift cards: Gift cards can be purchased with bitcoin from stores like Amazon and other options like Netflix or Airbnb. These work in that you buy the cards at bitcoin value but when you receive the card it is in normal Fiat value. Clothing: In some online stores like Shopify, we can buy clothes using cryptocurrencies. This works since in Shopify it is the users who create their online store so some of these may have the option to accept Bitcoin payments. Real estate: Since the historical peak of Bitcoin and also Ethereum smart contracts, it has recently become popular to accept it as a payment currency for the purchase of the real estate. As we can see there are many ways in which we can spend our bitcoins if we want to, and as time goes by we are sure that the time will come when we will be able to practically use our bitcoins and cryptocurrencies daily.

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bitcoin-and-nature

How does mining affect the environment?

According to an analysis by Cambridge University’s Centre for Alternative Finance (CCAF), if bitcoin were a country, it would consume more electricity per year than Finland, Switzerland or Argentina. This is because the process of “mining” the cryptocurrency (using gigantic computers that never stop working) consumes a lot of energy. The machines dedicated to “mine” or extract bitcoins are specialized computers that connect to the cryptocurrency network. Their job is to verify transactions made by people sending or receiving a currency, in a process that involves solving many mathematical puzzles. Usually the reward for that work is low and only small amounts of money are obtained in comparison to all that is spent in order to obtain them. That is why the only way for mining to be a profitable process is to do it on a large scale, with huge energy consumption and computers working 24 hours a day every day. That is why illegal cryptocurrency farms are installed in cities where electric power is cheap. They also seek to be in cities with frigid climates because the heat produced by the computers would make the cost of an air-conditioned area very expensive, thus cooling the equipment quickly and more cheaply. One might think that with the advances that we have today with respect to renewable energy could solve this problem, and although it is a part of the possible solution that can be given, there is still much energy that is produced from fossil fuels such as gas, oil and coal, which are highly polluting and produce a very large carbon footprint.

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Can cryptocurrencies be converted into fiat money?

As time goes by and in this last year, we see more and more the use of cryptocurrencies in a more everyday way. Even so, we still have some inconveniences when using them to buy things since not all businesses accept them as a payment method, or there is no way to use them daily when going to a coffee shop or when we go to the supermarket, that is why tasting how to convert into fiat money to use it in physical stores or simply to have cash is important and many people can see it as something complicated. It all depends on the country and the currency we are going to use, Bitcoin is still the most used cryptocurrency so in it we can find more facilities to change them in certain countries and there are more methods to change this into cash. How to exchange it for real money? The first thing we recommend is that you look for the conversion of your cryptocurrency to real money, you can do this by searching directly on google in some cryptocurrency exchange, it is only to have an approximate as this value is constantly changing. The easiest way to convert cryptocurrencies to fiat currencies is through exchanges, where you can find different alternatives to exchange them such as: 1. Using the platform’s withdrawals. When you have an exchange wallet, you will only have to request an order to sell your Fiat coins, usually, we can find a withdrawal section to do this. You just have to wait for it to be executed and the real money will appear in your wallet. Then you will be able to withdraw it to a bank account. 2. Use the P2P method In most exchanges, or at least in the most popular ones, there is an option to buy and sell cryptocurrencies using the P2P method. With this method a person who wants to buy cryptocurrencies will do it directly with you, depositing the money in the currency you want to your bank account. 3. Automatic Teller Machines. In some parts of the world, it is already possible to find ATMs that have the possibility of reiterating money from wallets, specifically those that have bitcoin and it is as simple as scanning a QR code with your wallet to make the withdrawal. 4. The bitcoin debit card We have talked about this card before on this blog. Not long ago we talked about this Visa card that allows you in many establishments to pay in a normal way using bitcoin.  Are these transactions taxed? It all depends mainly on the regulations that exist in your country if money enters your account, it must have come out of a legal space and you will have to declare where it has come from. We invite you, depending on the country you are in, to investigate the way to declare your earnings made with cryptocurrencies and the taxes you would have to pay for them, all this so you don’t get into trouble. We hope this post has helped you a little more in your way through the crypto world, knowing some of the ways you have to get a real payment for your cryptocurrencies and also about the tax obligations you may have with this.

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What is a cryptocurrency and how does it work?

As we get deeper into the world of cryptocurrencies you can see how versatile they are and the number of operations that can be performed with them. International currency transfers, loans between individuals, investment projects, or even buying and selling of products and services, are some of the facilities they offer. Cryptocurrencies represent a completely different concept concerning fiat money, i.e. the currencies that you normally handle in your day-to-day life (euros, dollars, etc.). The way to manage them is different, although they are quite simple processes. Knowing the particularities of how they work is important to avoid any possible problems. Buying and selling coins: This is one of the operations to master; in fact, it is essential. Without this function, it would not be possible to make transactions with the cryptocurrency, because it would not have a value. Making transfers between individuals: Cryptocurrencies are an ideal way to transfer money from one place to another in the world, thanks to their immediacy, their total digitalization, their decentralization, or their absolute security derived from blockchain technology. And all these transactions can be divided as follows: Inputs: Inputs are references to an output of a past transaction that has not been used in any other transaction. They allow us to confirm the origin of the assets to be used in a transaction. Outputs: These contain the address to which the transfer has been made and the amount that has been sent. It also contains the exchange or returns addresses where the transaction returns are sent. Identifier (TXid): Each transaction will have its hash. This hash is generated from the inputs and outputs. This value is the one that allows identifying a transaction in a unique and unrepeatable way within a blockchain. Commission rate (fee): The commission is the small payment that miners receive for processing a transaction. Thus, the miner who generates a new block will receive a commission for each transaction processed within that block. The commission does not come explicitly in the content of a transaction, i.e. it is not associated with any output, since the miner who will receive that commission is not tasted. At The Blue Manakin, we are interested in educating people to learn more about the medium they are entering. Normally we might enter this diverse world thinking that the only thing we can do with our cryptos simply boils down to buying and selling. When really in a transaction we can find other concepts.

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DeFi

What does DeFi mean?

DeFi is short for decentralized finance that includes digital assets, protocols, smart contracts, and dApps built on blockchain. We can think of DeFi as an open financial system where various small financial tools and services can be built. Decentralized finance is a movement where decentralized server networks and blockchains are used to transform traditional financial products into transparent protocols that work without intermediaries. Currently, almost all decentralized finance applications are based on Ethereum and Binance Smart Chain blockchains. Like Bitcoin, Ethereum and Binance you have a blockchain that acts as a shared ledger that tracks digital value. Rather than a central authority, all users who have access to and participate in the blockchain are the ones who control the transactions of both Ethereum and Binance depending on which one it is as if it were a democracy. Developers can program applications that can create, store and manage digital assets, also known as tokens, on the blockchain. For this, dApps (decentralized applications) are described and built. The expiration of contracts and agreements is automatically enforced if the blockchain obtains the correct data. Complex and irreversible agreements can be made without the need for an intermediary. Anyone can create, adapt, mix, match, link or build upon an existing decentralized finance product without permission. Decentralized finance protocols are modular, so they can be stacked on top of each other to build an increasingly dense and complex system of interacting parts.

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Cryptocurrency mining: How does it works

What does it mean to mine cryptocurrencies? This answer encompasses many myths on the subject of cryptocurrency mining. Mining cryptocurrencies is not creating them out of thin air or forging them with special programs, cryptocurrency mining refers to a set of processes necessary to validate, process, and confirm transactions of a cryptocurrency. In the case of bitcoin, mining consists of validating and recording transactions on a blockchain. For this, all the nodes of the network (the computers) participate in the successful resolution of the riddle that involves the search for the block, taking into account a random number and with the application of a cryptographic function, a hash is found as a result, which complies with a characteristic, which always has a certain number of characters. What is needed? This work requires effort and computational power, which ensures how complex it is to write new transaction blocks to the registry and thus prevent an attacker from generating a fake block and adding it to the blockchain affecting already existing blocks. Do all mine work the same way? Not all cryptocurrencies work in the same way, so the way they mine depends on the system that uses the blockchain or algorithm of each cryptocurrency. However, one thing they all have in common is that there are never any useless operations between miners, but rather they are necessary to maintain the stability and security of the network being used. Since the miners’ work is so important they charge an amount of money for their mining work. In the case of bitcoin when a miner finds a valid block he is rewarded, since February 2021 for each new block a miner earns 6.25 bitcoins. The payment is made with coins that are in reserve and at that moment they enter into circulation, so it is erroneously believed that cryptocurrency mining consists of creating new coins. The coins are already previously defined, however, the job of mining is to bring more coins into circulation.

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What does bridging tokens mean?

Every cryptocurrency has a blockchain network, but this does not mean that only that specific cryptocurrency can exist in that blockchain network, since bridges exist for that purpose. We have examples of these blockchains a: Ethereum  Cardano  Tron  Binance Smart Chain Solana Polygon  Doge So if I wanted to move my Ether on the Ethereum blockchain to the Binance Smart Chain blockchain, because for some reason I want to use it on a specific platform this would be achieved through these bridges. What are their functions? Mainly blockchain bridges are needed for 3 reasons: Ease of use: with brokers as these do not work with native tokens if not with versions of these tokens over the Ethereum network. Transaction fees: Sometimes it can be cheaper to make a transaction on a different network. Innovation: Currently there are many blockchains and they all have different characteristics and we hope they will continue to exist more and more so this system helps that these new ecosystems do not have to start from scratch. How many types are there? We currently have two different types of bridges, centralized and decentralized, we will talk about these below: Centralized blockchain bridges. These are usually part of an exchange in which they function as a pool that stores coins in exchange for delivering tokens that represent these coins. The main problem with this system is that we rely on the exchange for this, which highlights the popular saying in wallets, that as long as you don’t have your keys you don’t really own your coins. Decentralized blockchain bridges The second type of bridges are those based on Smart Contracts, which are created on both networks and these instead of freezing the assets burn them on the blockchain from which the coins originate. There are currently many bridges available, such as Avalanche, Binance or Terra. In The Blue Manakin we put a lot of emphasis on analyzing all the options of bridges before putting our money in them, thus avoiding a scam or the freezing of our assets and that we can not get them out.

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Curiosities of the crypto world: The mystery of Satoshi Nakamoto

Behind the creation of bitcoin, there is a mystery which is that it is not exactly tasted who is its creator. This mysterious person has always acted under the pseudonym of Satoshi Nakamoto who in the last decade disappeared completely from the Internet and has not spent his bitcoins during all this time. Although we do not know who Satoshi Nakamoto is or was, we do know his great work: he invented the bitcoin protocol and published it in a scientific article through the Cryptography Mailing List in October 2008. On January 9, 2009, Nakamoto released version 0.1 of the Bitcoin client, and on the same day, at 00:54, the first bitcoin block was mined, creating the first units. Three days later, on January 12, 2009, Hal Finney, one of the most prominent members of the “Cryptography” mailing list, received the first ever bitcoin transaction. And on April 26, 2011, Nakamoto disappeared and was never heard from again. Several theories try to explain why the group or person behind Satoshi Nakamoto is in hiding. Here are a few of them: – To avoid conflicts of interest since knowing the name of bitcoin’s creator could also allow that person to manipulate prices as he wishes, which goes against the original plan. – To avoid legal problems. In the USA some people have suffered legal actions for creating a digital currency as an alternative to the dollar, besides, bitcoin can be used by anyone and for many things, including illegal activities. – Avoid becoming a victim of a cult of personality. Some suspects who were thought to be Satoshi Nakamoto – Hal Finney: For being a pioneer of cryptography and apart from that because near his house lived a person with the surname Nakamoto, from whom he could have based himself to create the pseudonym. – Nick Szabo: Published about a decentralized currency before bitcoin existed. His writing style is also similar to that used by Nakamoto. – Dorian Prentice Satoshi Nakamoto: Because of his similar surname and his libertarian character, he could correspond to the profile of the creator of BTC. – Craig Wright: an Australian entrepreneur who has publicly and repeatedly claimed to be Satoshi Nakamoto. However, he has not been able to prove it. – A Chinese or Russian agent: the US administration asked whether this was not a Chinese or Russian coup d’état. What we can conclude is that even though this is an active mystery, not tasting who was the person or group of people responsible for basically creating digital currencies is not something that affects the currency directly. We hope someday to hear something about it but in the meantime, you can enjoy what bitcoin has brought to the world.

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blockchain

What is the blockchain and how does it work?

What is a block? In computing, a block is the smallest amount of information or data that can be transferred in an input or output operation between a computer’s main memory and peripheral devices or vice versa. Generally, the physical size of the data block is larger than the logical record. than the logical record. By linking several blocks together, a blockchain is formed, each block has a specific and immovable place within the chain, as each block contains hash information from the previous block. The complete chain is stored in each node of the network that makes up the blockchain, so an exact copy of the chain is stored in all the participants of the network. What is it used for? In the blockchain, a block is a concept designed to optimize a process, for example, Bitcoin has dozens of transactions per second. Validating each of these transactions individually would be completely unfeasible and would be a long and tedious process. It can be said that a block contains a series of instructions and operations that are programmed to perform a certain process and also contains information on the hash of the previous block to connect and form a blockchain. How is it generated and what does a block contain in a blockchain? In blockchain technology, a block is a concept designed to optimize the validation process of the transactions made. In a bitcoin blockchain, each block is generated by the Proof of Work (PoW) system, when the computer (or several of them) solves the system or puzzle posed automatically by the web. The fundamental structure of a block is a header with data from the previous block and data from the transactions that have been made in the new block, adding other data such as a timestamp (timestamp) and a nonce (a number that can only be used once). With all the transactions a substructure called a Merkle tree is generated, which is a summary of all the transactions that have been made in a block, resulting in a Merkle root, which is what is added in the block to reference all the transactions. If a blockchain is compared to a ledger, each block would be a page of that ledger where all transactions are recorded. These blocks usually have different conditions or rules to be generated, and maximum block size is established. This may depend on the structure of the blockchain and it is also established how often a new block is created. Is it unique to cryptocurrencies? This technology is not exclusive to cryptocurrencies, since it can be used basically in any type of information that needs to be preserved intact and must remain available. Moreover, since this information is encrypted, its confidentiality is guaranteed, since only those who have the key will have access to it. Due to this, currently, the demand for this technology has increased since it offers benefits for all types of companies or organizations regardless of their line of business, such benefits are: Greater confidence. By working in a private network to which only members have access, there is the assurance that accurate and timely data will be received. Increased security. All members must agree on the accuracy of the data and all validated transactions are unalterable since they are permanently recorded and cannot be deleted. More efficient. With a distributed ledger among members, response time is reduced and transitions are executed automatically based on a set of rules stored in the blocks. Undoubtedly blockchain revolutionized transactions and data manipulation through the internet opening a world of possibilities.

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bitcoin

What is a bitcoin and how does it work?

Bitcoin is a digital asset that was introduced to the world in 2009 which leverages a peer-to-peer network to facilitate the transfer of value without the intermediation of banks or central authority. Where do they come from? Bitcoins are born through the mining and validation of transactions on the blockchain, which is a ledger to which everyone in the world has access and we can see even the first transaction that has been made with this currency. The people who are in charge of this procedure are known in the world as miners. When miners successfully verify a set of transactions, they are awarded several bitcoins, currently, they get 12.5 bitcoins for each completed transaction but this number decreases with each halving, which usually occurs every 4 years. The miners follow a set of cryptographic rules that keep the network stable, safe and secure. Does it has a limit? Currently, there are approximately 17 million bitcoins mined of which there is a maximum number which is 21 million. But not to worry as this number will not be achieved until around the year 2140, so we will have bitcoin for quite a while. How can I get bitcoin? Outside of mining, there are several ways in which we can get bitcoins. By exchanging with other people or through various exchange platforms such as Binance. Our assets will want to be stored in a wallet, in the case of the exchange platforms they are stored in the wallets that they give you but there are also thousands of wallets that you can use, metamask is one of the most popular. What are its uses? Currently, bitcoins can be used as a payment method for goods and services, but the commercial use of bitcoin is still growing. But we can also use it for trading, selling it, or buying it in exchange for fiat money like the US dollar. Bitcoin is the most liquid cryptocurrency and we expect it to become more and more common in society, adopted in the future as a currency like a dollar or a euro.

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What is a cryptocurrency and how does it work?

Cryptocurrency is a digital currency, a currency that does not exist in any physical form and is based on bits. The idea of this type of system came to the world thanks to the user Satoshi Nakamoto, who published an article in which he explained how this currency works, which sought to completely disassociate itself from any banking and governmental institution, thus maintaining the privacy and not being affected by inflation. A few months after publishing the article, Satoshi Nakamoto provided the necessary software to carry out these transactions and disappeared without a trace to this day the identity of this user remains unknown. The first currency of this type and the one we are talking about is Bitcoin. The bitcoin system works with Peer to Peer (P2P). In which there is a global and public record of all transactions that have been made in the history of the currency known as the blockchain, thus tracing in detail the entire journey that has been made from the first user account that had it until the last, and despite this record being public does not affect privacy because all accounts are anonymous and do not know whom it belongs to The Blockchain is a sequence of chained data, each block has a limited number of transactions that are linked to the previous block and so on until the first block that existed the advantage it has is that it is distributed globally, which makes it a system that apart from being public is safe because it is impossible to modify the records of the past and while there are users on the network this record will never disappear. Any person can create a block which is known as miners, these miners register approximately between 2000 and 2200 transactions in a block, which once finished is sent to the registry, where other miners review it and if the majority indicates that it is correct, the block remains in the registry and the miner receives a reward. In this way, security is maintained in the registry. The first currency of this type was the Bitcoin, but today there are many other currencies of this type that have different values, another example of this type of currency that is widely used is the Etherium which works with the same type of system as the bitcoin but with financial contracts that serve for example to buy a house or ask for a loan, These contracts are known as smart contracts, and the Etherium works exclusively to pay these contracts. Other currencies on the market are: ·         Tether ·         Binance coin ·         Cardano ·         USD coin ·         XRP ·         Dogecoin Just to mention a few. The truth is that entering this world is nothing complicated since you can buy cryptocurrencies directly from someone, or use one of the different exchange platforms that exist in the world such as Binance or coinbase with which you get a virtual wallet, and there you have your new coins, it is already your job to learn more about what kind of exchanges or transactions you can do to make this money grow and turn it into something real from which to profit. Apart from the normal transaction already talked about above where one person buys from another and registers on the blockchain, today there are already several companies that accept bitcoin as a form of payment for their services, some examples are: – Real estate – Clothing ·         Pizza Hut – Art – Web services – Video games Today we can see that cryptocurrencies have been included in the world in different ways, they have not been in existence as long as money and the classic exchange that human being has had since the beginning of time, but it has been a currency that has begun to take its place in the world, its popularity and value is something that has not stopped advancing. There are more and more companies that understand its value and security in the exchange of goods and services, so betting on this type of currency can be a good investment wherever you look.

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How do Cryptocurrency Exchanges work?

In the early days, the only way to get hold of cryptocurrencies was to mine them or get them from someone else who was willing to sell them directly. But people started to look for a simpler and safer alternative to get cryptocurrencies, so the first Exchanges started to appear. A cryptocurrency exchange or DCE (short for digital currency exchange) is a platform that allows exchanging one cryptocurrency for another, trading and selling coins, and exchanging FIAT for cryptocurrencies. Some are more for traders and others for quick cryptocurrency exchanges between users. Cryptocurrency exchanges are in some ways similar to regular stock exchanges, the difference is the way traders make profits. On a stock exchange, traders buy and sell assets to profit from their variable rates, whereas on cryptocurrency exchanges, traders use cryptocurrencies to profit from the highly volatile exchange rates. The main difference is that on the stock exchange there are business hours, while cryptocurrency exchanges remain active 24 hours a day, 7 days a week, 365 days a year. Cryptocurrency exchanges (especially centralized exchanges) need new users to complete a registration process before they manage to start trading, so we can find more security when making trades within this platform than outside of it. Each exchange calculates the cost in the functionality of its trading volume, as well as the supply and demand of its users. Exchanges earn from different revenue streams, the 4 most recognized are commissions, listing fees, market building, and fundraising for IEO, STO, and ICO.

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NFT Marketing Agency: How to choose the best one

Making an NFT collection known can be complicated, especially in a world where new ones are created every day. And the market and what people are looking for are constantly changing. That’s why we emphasize that we always allocate part of the budget we have in our project to people who are experts in this changing world, to a marketing agency. But how can I choose the best one out there? Here are a few tips: Expertise and experience We will start by reviewing what other collections they have worked on, see how they have worked with the community, their social networks, and if the project did well. Compliance Marketing especially NFT marketing is constantly changing, so the agency we are looking for adapts well to this. Delivering marketing strategies promptly, tasting clear that maybe what worked for one collection may not work for another. Connecting with the crypto and NFT community All projects in this field seek to create a decentralized society, so cross-project support is essential. Marketing agencies have not only worked with their clients and will make collaborations with them, but along the way you build assignments with other communities and with whom you can surely create some collaboration to not only highlight your collection but theirs as well. Relational engagement Agencies in the NFT world are looking to take their assignment further. They look for pride in generating a sold-out and having a completely professional and friendly assignment with the founders of the project. Budget Along with the previous point, sometimes we may think that agencies will charge us dearly and stay at a high cost. But a good marketing agency that sees the future of a project will find a way to adjust to the real needs of your collection and make a budget according to what you can afford and what can be offered. Do not create a false judgment in your head, it is always better to ask. Professionalism and credibility A marketing company by your side can be a confidence builder for investors, future buyers, and members of your community. You will notice the interest and commitment to the project through how involved the founders and the agency behind them are. In The Blue Manakin, we have all the tools to adapt to the constantly changing world of NFT and the most important thing is that we are always there for our clients, so do not doubt that putting your trust in us will be worth it. Ask about our services.

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