Blockchain Consultants

Blockchain Transformations Done Here

Study

A brief study of Decentralized Autonomous Organization (DAO) in Blockchain

Decentralized autonomous organization (DAO) is one of the best-known concepts that blockchain technology has introduced to date. “Decentralized” refers to no need for any central government interventions, and “autonomous” refers to the amplification of smart contracts and encoded transactions on the blockchain. The creation of DAO was first made public by some members of the ethereum blockchain community in early May of 2016. The DAO creation was an outstanding success which produced 150 million dollars worth ether at that time.  Furthermore, this value managed to reach a worth of 250 million dollars which is recognized as the biggest crowdfunding in history.

Let us understand the meaning of the term and important points related to it.

Table of content

  • What is the meaning of DAO?
  • Why are DAOs needed?
  • How do DAOs work?
  • How-to use DAO?
  • In charitable organizations
  • In freelance business
  • Pool investments
  • How to get DAO membership?
  • Token based membership
  • Share based membership
  • Misconceptions around DAO
  • Closing Thoughts

What is the meaning of DAO?

As you already know that DAO stands for decentralized autonomous organization, but what does that mean exactly? Well, it is a blockchain-based technology that lets users organize and oversee themselves. Users have to play along with the set of self-executed public blockchain rules. The system is free from the governance of any central party. Additionally, users can receive funds from the DAO by projecting their pitches to the community. Now that you have learned the base concept of  DAO creation, we can move ahead with its roles in the blockchain.

Why are DAOs needed?

When a person wants to build up an organization with the other party, the involvement of money and funding in this process demands a lot of trust in the parties you are working with. But it is not a wise move to trust anyone you just interacted with on the internet for your business. But by using DAO, one doesn’t need to stress out in finding trustable people as the DAO system will provide you with a hundred per cent credibility and transparency on DAO code. This advancement draws in so many opportunities for worldwide collaboration.

So, this is why DAO holds its importance in the world of trade. Now, let’s look into how it works.

How do DAOs work?

The smart contract is the foundation of DAO. DAO group regulations and organization rules are ingrained in the smart contract. No changes can be made to the rules once the contract is published on Ethereum. However,  a voting system can be used to approve any changes. If any member does something that is not under the logic and rules of the created code, the action will cease to function. Without the group’s permission, nobody can spend the money as funding is also specified by the smart contract.  The DAO group decides rulings altogether without the central authority, and donations are granted automatically when votes are passed. Smart contracts are untameable after they get sent on Ethereum. Nobody can just modify its rules without getting caught by other members as everything in this system is public. 

How to use DAO?

Here are some examples of how one can use a DAO:

  • In charitable organizations: By using DAO, you can approve membership and contributions from people around the world, and the respective organization can decide on how they can spend these donations.
  • In freelancer business: Another excellent example of DAO use is creating a network of contractors who are willing to combine their funds for office areas and software subscriptions.
  • Pool investment: One can establish a venture fund that merges investment capital and counts on enterprises to support it. Later on, refunded money can be distributed again among each and every DAO member.

DAOs are highly functional in numerous funding areas, users can legally use DAOs according to the required scenario. All you need is a DAO membership.

How to get DAO membership 

There are various categories to get DAO membership. Membership can conclude the working procedure of voting and other crucial roles of the Decentralized autonomous organization.

  • Token-based membership

Primarily on a decentralized trade, these tokens can be exchanged for permissionless trade. Depending on the type of token, members can acquire full permission for all activities. At the same time, others need to offer contributions in liquidity or any other proof for credibility. Either way, simply having a  token offers you access to voting. This is commonly employed to regulate vast decentralized strategies and tokens themselves.

  • Share-based membership

Share-based membership is more restrictive yet quite open. All interested members are allowed to enrol into DAO, usually by providing valuable contributions in the form of a task or tokens. Having shares gives members unrestrained ownership and voting rights. Group members are free to exit anytime with their earned share of the profit.

Although DOA has marked its importance in the Blockchain space, still there are a number of fallacies  around the term.

Misconceptions around DAO

  • Above everything else, let us first talk about the “decentralization” part of a DAO. It is muddled whether decentralization just should be set up at the level of the primary blockchain-based organization or whether it additionally should be carried out at the administration level (for example, the DAO ought not to be constrained by any centralized group).
  • Second, the fact of whether a DAO should be wholly autonomous and automated, meaning the DAO ought to work with no human mediation at all, or whether the idea of “self-rule” ought to be seen from a more delicate perspective, is a matter of confusion. For example, while the DAO, as an association, may require the support of its users, its administration should not be subject to the tendencies of a bit group of users.
  • There are a few discussions concerning when the user group connecting with a smart contract can be viewed as a real “organization” (freely of any legal acknowledgment). For example, it is puzzling whether the simple demonstration of executing with a smart contract qualifies as an authoritative action or whether a more grounded level of involvement is vital, such as having an administration model or collective communications among members.

Closing Thoughts

The term “decentralized autonomous organization” is now well solidified in the blockchain platform. DAOs have become critical as they assist in systematizing the principles of a business, providing robust decision-making equipment, and abolishing the need for papers and external authorization. 

To learn more about blockchain in detail from certified ethereum expert, check out BLOCKCHAIN COUNCIL and sign up for various courses and certification programs.

A brief study of Decentralized Autonomous Organization (DAO) in Blockchain

Source

A Quick Guide On How To Start Crypto Trading

A Quick Guide on How to Start Crypto Trading

Are you wondering how to start crypto trading? This article enlists essential steps that will help you kick off your crypto trading learning journey.

Table of Contents 

  • What is Crypto Trading?
  • How it Differs from Forex Trading?
  • Steps on How to Start Trading Cryptocurrencies
  • Concluding Lines 

What is Crypto Trading?

Interest in crypto trading has been increased over the past few years because cryptocurrencies are extremely volatile assets, and they can give you much higher returns than traditional investments.

We can define Cryptocurrency trading as the act of speculating on cryptocurrency price via buying and selling the underlying coins through an exchange. 

As crypto trading gets more mainstream attention, newer players have entered the market and are looking to learn trading techniques. 

If you are one of those, who want to learn about trading and the crypto market, you can enroll in a cryptocurrency certification course and become a Certified Cryptocurrency Trader. 

How it Differs from Forex Trading?

Forex trading is the exchange of currency into another currency for multiple reasons. It is also known as Forex or foreign exchange(FX). In other words, it is a network that allows buyers and sellers to transfer currency with one another at an agreed value. 

The major difference between these two trading approaches is that Crypto trading is more volatile as the markets can fluctuate enormously. Moreover, compared to the cryptocurrency market, forex markets have higher liquidity as a result of a long history of activity. 

Steps on How to Start Trading Cryptocurrencies

Let’s explore how to start crypto trading. 

Choose Crypto Exchange Platform to Trade on

At present, there are a number of popular crypto exchanges available that can be utilized. If you are wondering what exchanges are, please note that the portals which connect our world to the crypto-worlds are exchanges. 

Since each exchange has different terms of services, therefore it is advised to perform a lot of research and go through several reviews. Before selecting an exchange platform, make sure that the exchange is available in your area. For instance, Coinbase, one of the most popular exchange platforms, is not available in India. Apart from this, check the reputation of the exchange. For example, are people happy with their services, is it ever hacked, how secure it is? Most importantly, check for exchange rates. Different exchanges have their own exchange rates, which may vary. If you find satisfactory results, you can finalize one. 

Some of the most popular crypto exchange platforms are:

  • Coinbase
  • Coinmama
  • BitFlyer
  • Poloniex
  • Cash App and others.

Choose a Crypto Wallet

Crypto wallets are tools that allow you to store and send crypto coins. These are of various types. Let’s explore. 

  • Hot and Cold Wallets

Internet connectivity defines a wallet in terms of hot or cold. Hot wallets are connected to the Internet and thus are less secure and pose more risks but are user-friendly. Cold wallets, on the other hand, are stored offline and don’t require internet connectivity, thus leading to improved security and less risk. Hot wallets are more likely to be used for daily transactions, and cold wallets for more long-term holdings. 

  • Hardware wallets

Hardware wallets are hardware devices that individually handle public addresses and keys. It looks like a USB with an OLED screen and side buttons. It is a battery-less device and can be connected to a PC and accessed by native desktop apps. They are more secure than hot wallets and user-friendlier than paper wallets but less than web and desktop wallets. The most popular hardware wallets are Ledger Nano S and Trezor.

  • Other Wallets

You can also choose Mobile Wallets such as Coinomi and Mycelium, Desktop Wallets such as Exodus, Bitcoin Core, Electrum, or Web Wallets which can be non-hosted wallets such as MyEtherWallet or MetaMask or hosted wallets Binance, Coinbase, and others.

Keep Track on Crypto-Related News

Once you have finalized a crypto exchange platform and a perfect crypto wallet, all you need to do is keep track of crypto-related news before making any investments. To study the asset, one of the best tools for this research is Coinmarketcap. It is a price-tracking website for crypto assets where you can find information on every coin, such as capitalization, supply, trade volume, and other valuable insights. 

Concluding Lines 

Hope this article has helped you in providing a complete understanding of how to start trading cryptocurrencies. If you want to gain a deeper insight into cryptocurrency trading and investing strategies, you can check out the best cryptocurrency certification courses offered by Blockchain Council and become a Certified Cryptocurrency Trader. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

A Quick Guide On How To Start Crypto Trading

Source

Choosing a Distributed Ledger Technology

Codezeros

Executing an IT project requires you to depend on the software that is well documented and has a better and active developer community. Having an active community and strongly responding developer community helps in searching out information for your project easier.

The active support and a great performance from the software help in steering programming and fixing bugs. Even the blockchain system’s development is more similar to this. Thus, opting for Distributed Ledger Technology (DLT) can be an advantageous option if users want to derive out information.

So, let us talk more about it below.

Choosing a Distributed Ledger Technology

Criteria to look out for:

So, in recent finding, it is concluded that Blockchain Research Lab had been associated with selecting the DLT to facilitate the DiBiChain blockchain project. To make the products more optimized, this project was liable enough for creating a virtual picture of the product’s life cycle.

From the vast list of available DLT creation services, any one of them can be used to formulate DibiChain. So, among the large number of DLTs, anyone with the vastest technical characteristics can be used.

However, there are many other criteria that you can consider before selecting the apt Distributed Ledger Technology, like the documentation’s quality, how well the community is active and how popular the technologies are.

Study of 15 different DLT technologies:

Some recent reports have been published as an assessment based on the explorative scrutiny of resources and community of candidate technologies. In that report, 15 different DLT implementation and integration technologies were scrutinized based on the present document, their popularity, and how effective the developer’s community is.

The 15 technologies, which were scrutinized, are also studied based on the connection with resources such as Whitepapers, documentation, video channels, Whitepapers, and chats. The name of the DLT technologies is Bitcoin, Cosmos, Corda, Hedera Hashgraph, Hyperledger Fabric, Ethereum, Hyperledger Iroha, IOTA, Hyperledger Sawtooth, Quorum, Tupelo, MultiChain, WRMHL, Stellar, and Tendermint.

The result after scrutinization:

Upon scrutinizing, it is found that technologies that are of Hyperledger, Corda, Ethereum, Quorum, Bitcoin, Tendermint, Hedera Hashgraph, and Stellar have complete documentation amongst others.

However, all DLT implementation technologies have a dedicated community for group chats with developers that can be contacted and be asked for help.

Utilizing the GitHub metrics:

Another analysis was made with the GitHub metrics for finding the collaborative effort made by the open-source DLTs in comparing one another. On GitHub, analysis was based on three things, i.e., the “fork,” “stars,” and “commits.”

These three metrics determine DLT’s effort on helping the public with a generalized interest in knowledge and also analyze the effort that was devoted by the Distributed Ledger Technology.

So, here somebody utilizing “stars” means it points out a certain that technology has helped them throughout the project, and they want them to take their help in the future. The term number of “forks” refers to the number of projects that the developers have worked on. And from the developer’s side, they use “commits” to deliver the changes that they have made in the project and distributed them to the common people.

So, based on all three factors mentioned above, Ether and Bitcoin came on top considering all three factors.

On the other hand, Hyperledger Fabric performed well when compared to other technologies in terms of several forks and stars. This makes it certain that their community has a solid curiosity for this particular technology.

In contrast, others such as Corda, Stellar, Quorum, and Tendermint were close in terms of “stars” and “forks.” Ethereum, Quorum, and Hyperledger Fabric have an equal number of commits, and that determines their dedication towards the project. However, Quorum technology is a part of Ethereum. Thus, it gets all the commits obtained from the parental project of Ethereum.

And to trace out if the development of DLT integration technologies is still going on actively, the particular date of the newest “commits” need to be considered. This explains if the technology is actively participating or not.

Hence, only two from the long list have last been active for one month. Like MultiChain and Cosmos, these technologies have been active in the last eight months and three months, respectively. And this, therefore, determines that most of the current open-source-based development communities are inactive.

Conclusion

It is derived that the study here unfolds the differences between different DLT blockchain technologies.

Technologies and their developer community such as Bitcoin, Ethereum, Stellar, Quorum, Tendermint, Corda, and Hyperledger Fabric have done better work by investing their time and effort on delivering the project.

On the contrary, many other technologies have better resources that can support the better development and formulation of the blockchain project.

So, all these analyses and their result can help you determine which Distributed Ledger Technology to consider, so that can be useful for your project and help you advance your DLT-related project.

Choosing a Distributed Ledger Technology

Source

Top Benefits of Blockchain Certification in Your Career

Top Benefits of Blockchain Certification in Your Career Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. Table of Contents Overview Benefits of Blockchain Certifications Concluding Lines: How to Become a Certified Professional? Overview At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency. Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers. Benefits of Blockchain Certifications In this section, let’s explore some of the major benefits of Blockchain Certifications. It is emerging as one of the favorite technologies of businesses of all sizes There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. Rising trend of job opportunities According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge. Certifications can help people make better investments and trading in cryptocurrency. According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well. Exceptionally high salaries of Certificate Holders The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK. But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space. Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles. It is the technology of the future. Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications. Concluding Lines: How to Become a Certified Blockchain Professional? We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space. If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. So what are you waiting for? Get enrolled now! To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council

Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. 

Table of Contents 

  • Overview 
  • Benefits of Blockchain Certifications 
  • Concluding Lines: How to Become a Certified Professional?

Overview 

At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency.

Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers.

Benefits of Blockchain Certifications 

In this section, let’s explore some of the major benefits of Blockchain Certifications.

  • It is emerging as one of the favorite technologies of businesses of all sizes

There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. 

Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. 

Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. 

  • Rising trend of job opportunities

According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge.

  • Certifications can help people make better investments and trading in cryptocurrency

According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. 

Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well.

  • Exceptionally high salaries of Certificate Holders

The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. 

According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK.

But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space.

Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles.

  • It is the technology of the future.

Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications.

Concluding Lines: How to Become a Certified Blockchain Professional?

We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space.

If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. 

So what are you waiting for? Get enrolled now!

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Top Benefits of Blockchain Certification in Your Career

Source

Bank of England and UK Parliament get ‘Bitcoin fixes this’ treatment

One crypto user is seemingly taking exception to current monetary policy from the Bank of England, or BoE, and expressing their frustration with a laser projector.

Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages on the exterior walls of both the BoE and the Parliament of the United Kingdom on Saturday. The message appeared underneath Big Ben as well as the front of the central bank surrounded by a red box with the artist’s hallmark, and the photo has already been turned into a nonfungible token.

Many financial institutions around the world have struggled to adapt amid restrictions and economic uncertainty brought on by the pandemic since March 2020. The BoE has since purchased billions in government bonds and corporate debt.

It’s unclear why the anonymous Bitcoiner chose to project the message at this particular time. The BoE recently listed seven job postings related to a central bank digital currency, or CBDC, and will be establishing a task force to study its rollout in the U.K. market in collaboration with parliament. However, it seems that at least one person is dissatisfied with the direction of monetary policy in the United Kingdom.

Bank of England and UK Parliament get \’Bitcoin fixes this\’ treatment

Source

Verified by MonsterInsights