STAMP (STAMP) news

Abble (AABL): The Apple-Inspired Meme Coin Taking the Crypto World by Storm

What is Abble (AABL)? Abble (AABL) is a meme coin on the Solana blockchain that draws inspiration from the tech giant Apple. Just like its namesake, Abble aims to disrupt the status quo and bring something fresh and innovative to the table. With a whopping 19.57 thousand holders, $2.87 million in 24-hour trading volume, and a total market cap of $28.24 million, Abble is no small fry in the crypto pond. How Abble (AABL) Works Abble is a meme coin so it finds its value in the power of community. Think of it as a digital gathering of like-minded individuals who share a love for all things memes. Abble does not promise fancy features or grand roadmaps. One of the standout features of Abble is its homage to the late Steve Jobs, the visionary co-founder of Apple. Meet Stev Jabs, Abble's memeified version of the tech icon, complete with the infamous quote, "I want to put a ding in the memeverse." It's this playful nod to Apple's legacy that adds an extra layer of charm to the Abble experience. But the meme magic doesn't stop there. Abble's website and social media channels are a feast for the eyes, boasting a meme-ified version of Apple's iconic minimalistic style. It's like stepping into a digital wonderland where laughter and crypto collide. And if you need any more proof that Abble is the real deal, look no further than a fun shoutout video from none other than Steve Wozniak, co-founder of the real Apple. With a stamp of approval from one of tech's biggest legends, Abble is clearly making waves beyond the crypto sphere. But what about the nitty-gritty? How does Abble ensure the safety and security of its investors? Well, fear not, because Abble has got you covered. The token's liquidity is burned, and its mint function revoked, offering investors an added layer of protection in the wild world of crypto. AABL Goes Live on Bitget Be part of the evolving memeverse and trade Abble (AABL) on Bitget today! The meme coin is set to list on Bitget on March 29. How to Trade AABL on Bitget Listing time: March 29, 2024 Step 1: Go to AABLUSDT spot trading page Step 2: Enter the amount and the type of order, then click Buy/Sell With its playful nods to Apple's legacy, vibrant community, and commitment to investor safety, Abble is proving that sometimes, the best investments are the ones that make you smile. Trade AABL on Bitget now! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitcoin Breaks $40,000: A Milestone and Many More to Come

Bitcoin, the No. 1 cryptocurrency both by market cap and fame, has once again captured global attention by breaking the $40,000 barrier. This is the first time BTC has stood above the $40,000 mark since April 2022, a significant milestone as well as a testament to its resilience and growing acceptance in the financial world. Since its inception in 2009, Bitcoin has experienced a rollercoaster of highs and lows, symbolizing both the possibilities and the volatility of digital currencies. The recent surge past $40,000 marks a notable moment in its journey, prompting questions about the factors driving this increase and what the future holds for this digital asset. BTC/USDT chart since March 2022 Behind the surge Although there was no direct cause behind this historical surge, momentum has been building up over the past month and even the entire 2023. The two culprits behind 2022’s bearish run - Do Kwon and Sam Bankman-Fried - were arrested and extradited, and Bankman-Fried had already been declared guilty by the jury just a month ago. The prospect of trading a spot BTC ETF for the first time also contributed to the surge. BTC has been going all the way up since rumors of the SEC’s approval of spot BTC ETFs surfaced. Although there is no information about the exact date yet, hype has been building up ever since. Galaxy Digital even published an estimation of $14 trillion for the market size of spot BTC ETF one year after its launch. What came with the optimism about the SEC’s approval was the anticipation of an interest cut by the Federal Reserve. Markets interpreted recent comments from Fed Chair Jerome Powell as less hawkish, suggesting a need for balance between tight monetary conditions and fostering economic stability. The prospect of lower interest rates is favorable for Bitcoin, as historically, easy monetary policy has correlated with increased speculative trading and higher cryptocurrency prices. Another potential catalyst, proven several times by the market, was BTC’s halving event scheduled for 2024. Halving is a mechanism that increases BTC’s mining difficulty while reducing miners’ rewards by half. For more information about BTC’s anticipated halving in 2024, refer to our top 10 questions answered. Historically, halving events, which effectively slow down the rate of new Bitcoin entering circulation, have led to significanT price spikes. As the next halving approaches, investors might be buying Bitcoin in anticipation of a similar price movement. More to come? Looking ahead, Bitcoin's trajectory remains a topic of intense interest and speculation. Although many investors may sell their BTC holdings when spot BTC ETFs launch, others may see it as BTC’s stamp of approval from the traditional financial sector and even the public at large. Capital may be flowing into the crypto market, providing more stability and growth for BTC’s price. Should the Federal Reserve cut interest rates in the coming months, investors will seek high-yielding assets such as BTC and other cryptocurrencies. The halving event is also months away. Since past halving events all initiated significant bull runs for months, we may still see more investors and speculators betting on this upcoming event, pouring more and more capital into BTC. Closing thoughts BTC’s break above $40,000 reflects a complex interplay of economic factors and market speculation. While the future is uncertain, understanding these underlying dynamics will provide valuable insights for investors. Although cryptocurrencies have been known for their volatility and high risks, we are fortunate enough to witness these milestones in the history of BTC, the first blockchain, a potential disruptor in financial markets, and a truly revolutionary currency. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Gather Your Friends, Assemble Your Rewards

This article will take you through everything you need to know about Bitget’s Assist2Earn event. It’s time to spread the word and let all your friends know about Bitget - the world’s largest crypto sociaL trading platform. Join our Assist2Earn event, share your invitation, and shower yourself with ample rewards! What is Assist2Earn? Assist2Earn is a referral event organized by Bitget to encourage users to invite their friends to join the platform. As a participant, you stand to earn rewards when your invitees’ trading volume reaches a specific threshold. By inviting friends and earning rewards, users can boost their trading potential and profits. Where do I sign up? To get started, sign up for an account or log in to your existing one. Then, enter our event page, click on ‘Invite’, and send your invitation to your friends, family, and acquaintances. Don’t forget to tap into the vast potential of social media! How does Assist2Earn work? Each new user registered via your referral link and accumulated a total trading volume of 50 USDT will add a stamp to your ticket. When you have gathered enough stamps on your ticket, you will receive a reward of 20 USDT. Remember, you only have 10 days to finish this task. Tick, tock! Anything else? Assist2Earn runs in parallel with our Referral Program. Your reward will be distributed in the form of trading bonus. You must claim your reward in our Coupons Center in 5 days. Any suspicious activity may result in penalties or your account being banned from participating in future events. Bitget Partners and Affiliates will be excluded from Assist2Earn. So why wait? Join Bitget, enhance your trading experience, and earn rewards with your friends now!

What is Payment Settlement

Introduction Payment settlement is an institutional arrangement between an exchange and the payment provider that details the financial settlement and amount to be placed in an exchanges fiat account or crypto wallet based on agreed financial obligations. These funds were initially collected on behalf of the exchange by the payment provider and will have to be settled in either two ways. Types of Payment Settlement There are two main types of settlements, fiat settlements and crypto settlements. Traditionally, settlements are done in fiat or local currency. For example a payment provider collects ZAR and settles with the exchange in its local ZAR account T+1. However, due to regulatory restrictions and operational efficiencies it is sometimes easy for exchanges to prefer settlements in cryptocurrency i.e stablecoins like USDT/USDC. Some payment providers can directly offer this service or can work with third party OTC providers to facilitate this. Settlement Fees Sometimes settlements do not come cheap, due to a number of factors such as local regulation around capital flight, payment system in the jurisdiction or currency volatility. It is not uncommon for stamp duty fees to be part of the settlement fees. This makes providers charge a premium due to the volatility of that particular currency. How are settlements done? To understand settlement you need to understand the fund flow - which is the movement of funds from one party to another. Typically in very basic settlement structures. It starts from the depositors/users bank account, to the settlement account managed by the provider and then to the merchant account (In this case the exchange). In most cases there are more complexities to this fund flow. However, it is important that compliance and regulation is a centrepiece of this agreement to avoid contravening particular laws in specific jurisdictions. Importance of Payment Settlement to the user Users need to have a basic understanding of settlements because in some cases they determine the fees that the exchange will charge for a deposit and sometimes withdrawal. In cases where settlement or deposit fees are high from the providers side, exchanges might have to charge higher fees for transactions through the channel

How Will Web3 Change Our Daily Lives?

In a world where the general public is getting more and more into web3 games and is experiencing rapid adoption, whether you're already riding the wave or not, here are some thoughts on how web3 will change our daily lives. The web3, an upheaval Web3 is the vision of a decentralized internet in which digital relationships between companies and individuals are direct, disintermediated, not dependent on platforms or personal data collection but based on tokenization, NFTs, and stakeholder wallet interactions through blockchain technology. The web3 is the ability to move in the digital space but also physically with an identity, a kind of keychain, which is called a wallet and is often compared to a digital purse or a digital backpack. The web3 is therefore about moving from one site to another with this purse or digital backpack that is the wallet and that defines our digital personality. It allows us to connect to all possible spaces while keeping control over our data and having access to extremely rich engagement mechanisms. The web3 is thus this interoperability which is allowed by the wallets and the tokens which are all based on the same standards. These allow us today and even more tomorrow to connect to social networks, connect to the metaverse, and to our favorite companies/communities. How do brands understand web3? Many brands have understood the current stakes, namely the need to add intrinsic value as well as to improve traceability on the internet. Indeed, before these brands could only sell in the real world but for a little while, they can also sell on the internet. There are many aspects and many issues. It's not just the possibility of having a new line of products that are digital and that could represent a significant part of tomorrow's sales. Of course, it's an element and everyone sees that possibility. But it is much more complex because it is necessary to bring differentiation in the design and the marketing of specific products or services. This is risky and we see in particular that in the niche that is still NFTs, some brands are doing well but there are still many more that are missing out. Why? Because a product or a service must be the result of creation and therefore of a lot of know-how. This know-how cannot be invented. The web3 brands and collections that have gathered all the right ingredients and have been successful are not numerous. So brands see the opportunity to start experimenting with revenue generation through purely digital objects, but they also see all the possibilities that are enabled by interoperability, the notion of digital scarcity, the shift in personal data, and relationship management. This implies several types of NFTs: there is the NFT that is put on sale because it is the product and there is the NFT that will accompany something we have already bought or experienced. Indeed, if we are part of a program or a club, for example, this can take the form of an NFT which is not necessarily sold but which can on the other hand lower costs or generate other revenues in a direct way later on. So brands are starting to understand that this is not a small subject, that web3 is here to stay, and that it will profoundly change the way we interact and therefore the type of interface and tools we will have to get used to. Understand the problems of web2 The extension of reality is enabled by web3 and changes the relationship between the person buying and the brand selling. Arianee's Super NFTs, for example, which is enriched NFTs, are the world's most advanced ERC-721 format in any market. It is a format written, created, and deployed by Arianee since 2019. The functionality of these NFTs is quite exceptional. Today, there are two ways to interact with customers via a CRM in the digital domain: - The "first-party data", i.e. a collection of data concerning the user (his email, his phone number, his social-demographic data) followed by a storage within a database and then a treatment in order to segment. The major disadvantage of this method is that there are possible copies of databases. We all have in mind the hacking of the OpenSea database recently and Ledger in June 2020. Nobody can protect databases properly. So every time we give out personal data, there is a non-negligible chance that the companies that have it will no longer be able to control it and put us at risk of phishing. - The "third-party data" is very simple to understand. It is the use of someone else's data to reach a user. This third-party data poses a lot of problems even though it continues to anchor the digital supremacy of a few companies in the world that are very centralized and decide everything for everyone. Moreover, it is becoming more and more expensive to use and less and less efficient. We can bet that in 4 years it will be 4 times more expensive and 4 times less efficient. How is it possible to change the stakeholder relationships via web3? There is an alternative to first-party data and third-party data that we could call "zero-party data" which are tokens and NFTs. It is now possible via web3 to associate our wallet with these tokens and it certifies our interaction with another stakeholder. So, from now on, and thanks to web3, our data is not in a centralized database but in our hands. This solves the problem of storage and where the data is. It also solves the problem of centralization of systems since the link between the issuer of the token or the NFT and the user is direct. The idea is that in all interaction surfaces we can imagine a new form of disintermediated digital relations based on decentralization. It's already crazy in terms of data protection but as tokens and NFTs are natively primitives that we can evolve, gamify and some of which can have or take value depending on the dynamics and well the position of the one who has a token is very different from the one who gave his email or his birth date. Someone who has a token or NFT is engaged and wants to have something much more proactive and a stronger relationship with the brand. During a drop of 10,000 NFTs to the most engaged Yves Saint Laurent beauty fans and for the first time in the history of the web3, decentralized messages were sent to the wallets of these 10,000 people via transactions on Polygon. 40% of them clicked on the call-to-action to participate in the next drop. Super NFTs: a concrete example of the web3 revolution They have a lot of features that soulbound tokens (SBT) don't have, which are a new type of NFT that we can't exchange anymore and that we keep on our address, and they go very well with zero-knowledge proof, which is a process to guarantee our privacy because if we can't delete them anymore, then how do we preserve our privacy? These are issues that developers are dealing with through Sismo or other initiatives of this kind. What do Arianee's Super NFTs bring to the table that has superpowers and combine the best of web2 and web3? There are several issues that are not addressed by NFTs that have been built into the Arianee open-source protocol from the beginning. What's pretty cool and the founders are very proud of this is that what started being written and then developed in 2018 and then recently deployed on Polygon is now what all NFTs collections dream of. The first thing is the ability to retrieve an NFT in a different way. Indeed, today there are several use cases of an NFT. When we buy an NFT in crypto, there is no obstacle: we connect our wallet, pay, and then the wallet retrieves the NFT. It's simple, clear, and neat. But as we've been hearing since the beginning of this article and seeing it everywhere, there are plenty of cases where it doesn't happen like that. There are plenty of cases where we buy the NFT but we don't have a wallet yet and so maybe we paid that NFT in fiat. There are also possibilities that we get the NFT back either because we went to an event or because we bought something or because we entered a program. In all of these cases, the question of "how are we going to transfer the NFT?" is critical because it's the takeover question. The first feature implemented is the "asynchronous transfer" which allows via the same link to see the content of the data linked to the NFT, to enter an interface (usually a mobile application accessible via Apple Store or Google Play), to generate a non-custodial wallet on the blockchain and at the request of the user, initiate the transfer of the NFT from the issuer to the new owner. This ability to put in the same link visualization, wallet creation, and transfer generation (an airdrop in a way), is one of the first specificities of these Super NFTs which, you certainly start to imagine as you read, can solve a lot of problems. The second thing is the ability to time-stamp this NFT. That is to say, to add events that will change its status, its state and trace the history of what happened to it but also allow everyone to appreciate the "state of his life". For example, we buy an NFT from a purely digital collection but this NFT gives us the right to access an exclusive t-shirt. Instead of going to burn our NFT, we will receive a timestamp on the NFT that validates the fact that I have claimed the t-shirt and so if someone were to buy this NFT tomorrow, that person is aware that the t-shirt has already been distributed. The possibilities with this timestamp are incredible because it all works through open APIs and so anybody can come in and interact. This means that anyone can come and offer timestamping services to this base of NFT owners. We can look at it from the perspective of the brand that distributes and will be able to have a dynamic NFT, from the perspective of the user who no longer has to do baroque things like burning an NFT to get something, or from the perspective of the developer community who has access to open documentation with a clear and transparent system, either way, this timestamping functionality is superb. Conclusion Thanks to web3 we are building a new kind of decentralized database and people who have wallets with tokens in them without having shared any personal information but who are super engaged and want to develop a digital relationship with another stakeholder like a brand. Web3 kills two birds with one stone by addressing a structural problem of the web today concerning the protection of personal data and also by proposing more engaging and positive paths. All this is possible because databases become bases of "super users" who want to go to the next step. The level of web3 tools is progressing and this allows those who do not have the know-how to use them. Related articles What is Web3.0? How Web3 Technologies Are Modeling the Future of Finance? NFTs Trends In 2022 and Beyond Follow Bitget Academy: Twitter | Telegram | LinkedIn | Facebook | Instagram Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only. The future of the internet is here, and it's in your hands. Bitget Wallet is your ultimate portal to the decentralized world of Web3. With our easy-to-use interface, you can explore this revolutionary movement with ease. Start experiencing the future by visiting Bitget Wallet now.

The Blockchain History: How Does Blockchain Technology Change the World?

Since the skyrocket of the price of Bitcoin, the technology behind it, Blockchain, has raised people’s awareness. Not only in cryptocurrencies, Blockchain has a great variety of usages, like smart contracts, identities, agreements, property rights, and a host of other things. Governments and banks have started studying Blockchain and applying it in the real world. Over billions of dollars have been invested in several blockchain companies. In this article, we will deep dive into the process of how Blockchain technology changes the world, and the future development for you. The early days of the Blockchain (Since 1991) The idea of Blockchain technology was first introduced in 1991 by two research scientists, Stuart Haber and W. Scott Stornetta. They introduced a solution to prevent the data and documents being backdated or distorted by creating a time stamp on them. It is a chain of blocks that contain information. As new data comes in, it is entered into a fresh block. Once the block is filled with data, it is chained onto the previous block, which makes the data chained together in chronological order. This cryptography solution secures the safety of the data and documents stored on the chain. However, Blockchain technology was not popular and generally used back then. The patent for Blockchain finally lapsed in 2004. Reusable Proof Of Work (Since the 1990s) Reusable Proof-of-Work (PoW) was an invention by Hal Finney. It was a significant step in the history of digital cash and was a precursor of Bitcoin. In the 1990s, Hal Finney had an idea that the value of digital cash should not be decided by the organization issuing it. The supply of this digital cash is limited in order to make it difficult to create, by defining units of the digital cash in terms of Proof-of-Work, which is similar to the Bitcoin Network (The supply of Bitcoin is limited at 21 million.) Bitcoin Network (Since 2009) In 2008, the financial crash made people lose confidence in the government and banking systems. As the central bank began to print money and inject it into the financial system. It raised people’s awareness of the devaluation of fiat. At that moment, a person using the pseudonym “Satoshi Nakamoto”, introduced a decentralized peer-to-peer electronic cash system to a cryptography community. The new system was named “Bitcoin”, which is based on Blockchain technology that allows users to send and receive digital money without any intermediaries. Furthermore, there is no centralized organization like banks and governments managing the accounts, verifying the transaction and controlling the amount of Bitcoin. Instead, the Bitcoin system is now run by thousands of computers distributed around the world. Transactions are verified by network nodes through cryptography and recorded on the Bitcoin Blockchain. Anyone can participate in this ecosystem by participating in the proof-of-work mechanism to verify the transactions in the network to get Bitcoins as a reward. On the 3rd of January 2009, the first Bitcoin block was mined by Satoshi Nakamoto and enjoyed a reward of 50 Bitcoins. In 2009, 10,000 Bitcoins were exchanged for two pizzas in a pizza restaurant in Florida. It was the first Bitcoin transaction in the real world. In February 2021, the price of Bitcoin exceeded over 65,000 USD. Ethereum (The Blockchain 2.0, since 2015) In 2013, Vitalik Buterin, a programmer and co-founder of the Bitcoin Magazine, stated that the Bitcoin Blockchain needed an update in order to have a broader application , not only as a financial system. But he failed to gain agreement in the community. Then Vitalik introduced the Ethereum White Paper which presents the idea of developing a new blockchain-based computing platform. Through the ICO in 2014 and the development, Ethereum was launched on July 30, 2015. The innovation of Ethereum is the introduction of smart contracts. Smart contracts can be created which are just like the contracts in the real world. They actually are self-managing tiny computer programs inside a Blockchain. How does a smart contract work? When some criteria is fulfilled, like the passing of an expiration date or the achievement of a particular price goal, the smart contract will manage the agreement itself without interruption and management from any parties. It is completely different from contracts in the real world that are managed by two separate entities and regulated by a third party. The cost of regulation and discredibility can be avoided with the help of the smart contract. The cryptocurrency of Ethereum is called Ether (ETH). It is used to pay the fees for the computational power spent on executing smart contracts. ETH can also be transferred between accounts like Bitcoin. For example, developers are able to create and publish applications that run inside the Ethereum blockchain. These applications are called decentralized applications (D-Apps). The developers have to pay ETH for securing the running of D-Apps. More than hundreds of DApps are now running on the Ethereum platform, including social media platforms, gambling applications, and financial exchanges. Bitcoin is a peer-to-peer electronic financial system underlying Blockchain technology, and Ethereum extends the usage of the Blockchain technology from the financial system to smart contracts, agreements and D-Apps. The Future of Blockchain With the introduction of the Bitcoin network and Ethereum, we saw the development of the financial system and smart contract. They are the most popular functions of Blockchain technology. But, the applications of distributed ledgers and Blockchains are unlimited. In the future, the third evolutionary stage of Blockchain technology, Blockchain 3.0, will be coming very soon. Blockchain technology has raised the interest of over billions of dollars, which have been invested in several blockchain companies, and the industry is growing at a fast rate. In the world of Blockchain 3.0, we will see the greater board of usages of the Blockchain. Major enterprises and authorities may apply the technology in our daily life. For example, how to manage and secure the privacy of the data and sensitive information with the Blockchain technology? We need a simple and effective solution. More and more industries are actually changed by it, for example: Food Safety- with the introduction of distributed ledger technology (DLT), all the information including the testing result of the foodstuff product may be recorded on the Blockchain. The records can be traceable and accountable, and they are difficult to be changed by any parties. The transparency of food products and the right to know of customers are secured. Healthcare- Blockchain technology may optimize the management and storage of patient records. The efficiency of the hospital system has been improved. Game- with Blockchain technology, Game-Fi becomes more and more popular. It is a decentralized gaming ecosystem that allows users to “play to earn”. Players can make money through transactions, buying assets in the game or investing in the tokens of the game world. It has already been a billion dollar industry. On Bitget Launchpad, we have already launched several potential Game-Fi tokens projects in 2022. It is a new platform for launching new crypto projects and airdrops. By leveraging the power of Bitget, you may discover more quality projects every month.

Crypto101: Coin vs. Token vs. NFT

Crypto, NFT, Tokens...almost everyone is familiar with these terms. But not everyone knows what they really are. If you are interested in the development of the Blockchain, or just don’t want to be outdated, we highly recommend spending a few minutes going through these common terms in 2023. Your future may be deeply influenced by them. What are Crypto, Token and NFT? The definition of Crypto Coin Crypto is decentralized digital money. Its creation and management are controlled by cryptography. The underlying technology behind cryptocurrencies is Blockchain, which is a data storage technology that prevents anyone from changing the data stored on the Blockchain. Unlike Fiat like USD in the real world, there is no centralized authority or server to manage the account and verify transactions on the Blockchain. Instead, they are run by thousands of computers distributed around the world. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger. Example: BTC is the first cryptocurrency. The issuing of BTC depends on the mechanism of the BTC network, rather than the third party. The definition of Tokens Token is an application of the Blockchain technology, but tokens have no their own Blockchain like the Bitcoin network. They operate on Blockchains like Ethereum, which supports the function of smart contracts, which is actually a computer program that can be executed automatically when the criteria set in the contract is fulfilled. When a token is exchanged, it is physically moved from one place to another. As a result, it allows users to issue tokens without building up a Blockchain ecosystem. Tokens can be divided into fungible and non-fungible. Tether is a kind of fungible token based on the Ethereum Blockchain which is linked to the value of USD. The value of e ach USDT token is the same, while the value of each non-fungible token is not, as they have greater usage, which is not only as a unit of account like crypto or token. Example: USDT. The definition of NFT NFT(Non-Fungible Token) is the proof of ownership of a digital asset recorded on the Blockchain. There is no effective way to protect the rights of digital assets like videos, photos or digital art creations before the application of NFT. People may copy and paste easily. Creators have to spend a huge legal cost to protect their rights of ownership. But in an NFT, it contains ownership details for easy identification and transfer between holders. A unique identifier is added to each unit. This means each unit of that asset is different from all the other units - this characteristic is called non-fungible. The data of an NFT is stored on the Blockchain, which can’t be changed by any people easily. Each token is unique and irreplaceable. With the application of NFT, people can carry out the transactions of digital assets with other people through the internet. NFT has encouraged more people to create valuable digital assets. Example: CryptoPunks is one of the famous and expensive NFT collections on the Ethereum blockchain. The project was launched in June 2017 by the Larva Labs studio. The value of CryptoPunk #5822 is $23.7million. CryptoPunk #5822 sold for a record-breaking 8,000 ETH, $23.7 Million. Source: Larva Labs Similarities and Differences between Crypto and Token NFT is a form of tokens. Both crypto and tokens are applications of Blockchain technology. While they share many similar features, they are completely different things. Similarities Distributed: All the data, account and transaction records of both crypto and token are stored on the Blockchain, which is distributed in thousands of nodes around the globe, rather than a central server. The security of the data is ensured. Decentralization: Both crypto and token are a peer-to-peer system that can be transferred without any intermediates. Immutable: All the data of both crypto and token is stored on the Blockchain, which can’t be changed easily unless the 51% attack is raised, which requires a huge cost. Differences Crypto Token Function Crypto acts as money, such as a medium of exchange, store of value and unit of account. For example, ETH is paid for the execution of a smart contract. The fungible token like USDT can be used like crypto as an unit of account. But tokens have a greater variety of usage, like NFT is the proof of ownership of an asset, identity management, or the proof of specific rights of a platform, like voting rights in a Dao. For example, Top Shot is an NFT m arketplace for buying, selling, and trading video ownership of different NBA moments. Fungibility Fungible, there is no difference between each Bitcoin. The value of each Bitcoin is completely the same. Can be fungible or Non-fungible. Fungible tokens like USDT are similar to Bitcoin, there is no difference between each USDT. But each NFT is unique and irreplaceable. Just like the value of each Crypto Punks is different. Just take an example, crypto and fungible tokens are similar to the concept of money. The value of every 100 USD note is completely the same. The NFT is similar to stamps. The design of each stamp may be different. The identical and special differences sometimes make its value reach over millions of dollars. Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only. This article is for educational purposes only and is not intended as investment advice. Qualified professionals should be consulted prior to making financial decisions.

What is the Smart Contract? Will the computer code replace the law in the future?

Welcome to Bitget - the world’s fastest growing crypto derivatives trading platform. The Bitcoin network is the first application of the Blockchain technology. When Bitcoin became famous, people started to consider how to apply the Blockchain technology in different areas, not only as a decentralized financial system. Smart contract is an innovative function introduced by Ethereum, a second-generation protocol that crosses blockchain with the ability to deploy simple on-chain programs. Where Bitcoin allows for the peer-to-peer transfer of value, Ethereum enables this to be performed autonomously. We are going to introduce the potential benefit in the smart contract. Don’t miss this key information as a crypto investor. What is the Smart Contract? Imagine you were a player of a famous online game. One day, the game administrator made some editions and the character you love was banned. Your complaint was ignored by the game company and you lost your character forever. Then you realize that the game company acts as the center that can control everything in the game. On the other hand, you have no say in it even if you have invested a lot of time and money in the game. You can do nothing to protect your digital assets. That’s the real experience of the founder of Ethereum, Vitalik Buterin. In order to protect the rights of both sides, we may sign a contract to establish the terms of the agreement. But unlike the traditional contract in the real world, a smart contract is actually a computer program established on the Ethereum Blockchain. If someone violates the contracts, you have to spend a huge legal cost to ask for compensation, including both time and money. But with the smart contract, the agreement will be executed by the programs on the Blockchain. The key features of the Blockchain are transparent and immutable. It offers security, reliability, and unlimited accessibility. No one can interrupt the execution of the smart contract. As a result, the cost of discredibility is avoided. We can carry out any kind of online transaction safely with strangers with the help of smart contracts, no matter how complicated it is. How do they work? A smart contract is an automated program on the Blockchain. When the criteria set up in the smart contract are fulfilled, the programs will execute the offered tasks. Similar to the programming of the computer, smart contracts can be created in programming languages including Solidity, Web Assembly, and Michelson. The code of every smart contract is stored on the Blockchain and completely transparent and everyone can access it. So that both parties can review the terms and rely on it. In order to execute a smart contract on Ethereum, you have to pay the “gas” fee. When the payment is settled, the code is executed by thousands of nodes around the globe. The nodes providing hardware and electricity power will receive ETH (the cryptocurrency) as a reward. No matter the government, both sides of signing up the smart contract or everyone else is not able to change the order or the agreement in the smart contract once the programs are established on the Blockchain. Looking to get started with cryptocurrency? You can also directly purchase ETH and other popular crypto with credit card, Apple Pay and Google Pay on Bitget now! Key features and advantages of smart contracts The smart contract has the following key features so that it is more reliable: Smart Contract Traditional Contract Decentralization A smart contract is a peer-to-peer system that can be set up without any intermediates. You have to pay the gas fee depending on the complexity of the contract. Advantages: You may carry out trustless transactions without paying the transaction fee and time cost for the execution carried out by an intermediate. A traditional contract is set up with an intermediate like a lawyer or authorities. You have to pay the lawyer’s fee or stamp duty. Immutable Once both parties set up a smart contract on the Blockchain, no one can make the changes. Advantages: The smart contract is executed automatically. Both sides, including the third party like the government and the founder of the Blockchain, can’t make changes to the smart contract once it is recorded on the Blockchain. It prevents the risk of violation and discredibility. If any party is not satisfied with the agreement in the contract at any time, they may hire a lawyer to fight for it. A large sum of time and money may be spent. Transparent Smart contracts are based on a public Blockchain, the source code is visible to anyone. Advantages: Everyone can regulate misbehavior to avoid discredibility.It allows everyone around the globe to use it. It enables the trustless transfer so that more and more capital can enter the market. Traditional contracts are not disclosed to the public. Determintic As the agreement is executed by the program on the Blockchain automatically, the outcome is always the same. Advantages:The risk of uncertainty in the transaction is reduced. It depends on who executes the agreement. If you are rich enough, you may hire the elites to execute. But what if you don’t? Customizable Smart contracts can be applied in many different ways, not only in transactions. They can be used to create many types of decentralized applications (D-Apps). Advantages: It allows developers to have a greater flexibility to create different types of applications. It is only used to protect the rights of both sides. The restrictions of smart contracts Here are the restrictions of the smart contract: As the smart contract is immutable, once it is recorded on the Blockchain, it can’t be changed easily. Smart contracts are made of computer code written by humans. This brings numerous risks like bugs. If someone finds a bug, you may suffer a great loss. That has happened on the Ethereum network. Furthermore, if you have made a wrong order, you can only suffer the loss and there is no legal way to ask for compensation. Many contracts require both parties to be properly identified and over 18 years old, but the smart contract does not. It may lead to legal or moral problems. Common applications of smart contracts The smart contract has the following common applications: Peer-to-peer transaction: Similar to the Bitcoin network, people can carry out peer-to-peer trustless transactions with everyone online. The transactions will be verified by thousands of nodes on the network and recorded on the Blockchain. De-Fi (Decentralized-Finance): Smart contracts are usually based on the decentralized Blockchain. In traditional business, we need an intermediate to raise capital for development, like a bank, investment bank or exchange to verify the process, no matter if you are issuing bonds or stocks. But with the smart contract, we may set up a fundraising or borrowing mechanism on the Blockchain. It allows people to raise funds directly from the public or carry out peer-to-peer borrowing without any intermediates. Both time and money are saved for financial activities. Game-Fi: In a traditional game, the game company can control everything in the game. Your account may be banned without any reason. All your digital assets, including skins, characters or weapons may be lost in a second. But with the smart contract, the rights of both game developers and players are protected automatically. You will only be punished for some specific misbehaviours recorded in the smart contract. The rights of your digital assets are protected by the smart contract, rather than the servers of the game companies. No one can steal your assets as they are recorded in the Blockchain, which is transparent and immutable. As the property rights become clear with the system of smart contract, the inter-game transactions become more and more popular. Some players may earn a decent income in a game. That’s why the concept “Play-To-Earn” has become more and more popular. D-Apps (Decentralized Applications): Developers may set up a decentralized exchange, social media, game or gambling application on the Ethereum Blockchain. Especially the gambling applications, as the setting and rules are transparent and open to the public, the cost of discredibility is avoided. Looking to get started with cryptocurrency? You can also directly purchase ETH and other crypto with credit card, Apple Pay and Google Pay on Bitget now! Looking for the latest crypto projects like the opportunity in Game-Fi? On Bitget Launchpad, we have already launched several potential Game-Fi tokens projects in 2022. It is a new platform for launching new crypto projects and airdrops. By leveraging the power of Bitget, you may discover more quality projects every month. Subscribe to our social media today! Twitter | Telegram | LinkedIn | Facebook | Instagram

Blockchain101: A Beginner’s Guide to Cryptocurrency

Cryptocurrency is probably one of the most hot topics and investments nowadays. Many people may only know Bitcoin. But actually, the development of cryptocurrencies is at a fast growing rate. More than thousands of coins are available on the market right now. In the following article, we will state the concept of cryptocurrency clearly for someone who is interested in but has no experience in crypto investing. What is cryptocurrency? Cryptocurrency is the decentralized digital money. Its creation and management are controlled by cryptography. The underlying technology behind cryptocurrencies is Blockchain, which is a data storage technology that prevents anyone from changing the data stored on the Blockchain. There is no centralized server to manage the Blockchain. Instead, they are run by thousands of computers distributed around the world. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger. What makes cryptocurrency unique? Decentralization is one of the key concepts of cryptocurrencies. In the traditional world, when the centralized server is shut down, users are not able to access the services provided by the server, just like the outage of Meta’s products, including Facebook, Instagram and Whatsapp, on October 4, 2021. You might not be able to log into your Instagram account on that day. But in the crypto world, users are able to send and receive cryptocurrencies without any intermediaries like financial institutions. Unlike fiat like USD, there is no centralized intermediate like banks and governments control the issuing, account management, transaction verification of cryptocurrencies and changing the rules without reaching consensus. Such as the Bitcoin system, which is run by thousands of computers distributed around the world. The network participants run software that connects them to other participants so that they can share information among themselves. Therefore, cryptocurrencies are able to function 24/7/365. Transactions are carried around the globe at any time and place without any interruption from anyone. Even if a computer is shut down, it won’t affect the function of the Bitcoin system. We can do transactions on the Internet without any third-party verification. What is public and private key cryptography? Public-key cryptography is what users rely on to send and receive funds. In order to use or transact Bitcoin, you need a wallet to store your coins, like opening a bank account. Anyone can create a new wallet by generating a pair of public and private keys. The public key is for encrypting and a private key is for decrypting the data. The public key acts as an address for the wallet that can be deposited in cryptocurrency. If you want to receive cryptos in any transactions, you have to disclose it to the sender so the sender is able to send you the coins. The private key acts as the password of the wallet that can prove your ownership of the wallet. A private key is a massive number that would be impossible for anyone to guess. You should keep your private key secret. If you don't back up the private key and lose it, you can no longer access your bitcoin wallet unless you figure out what your private key is. You can also create digital signatures by signing data with your private key. It is similar to a signature on a document in the real world. When you make a transaction, there will be an announcement of the transaction, which is signed and added to the crypto’s blockchain. Verifying the signature is valid or not by comparing it with the matching public key. In this way, the process of identity verification is simplified as the user doesn’t need to reveal their private key to prove their ownership of it. What is the difference between cryptocurrencies and tokens? It seems there is no difference between cryptocurrencies and tokens. They can all be exchanged and stored on the blockchain. Cryptocurrencies Tokens Function Act as money, such as a medium of exchange, store of value Can be used like cryptocurrencies but have Greater variety of usage, such as the smart contract function in Ethereum. Fungiblity Fungible Non-fungible or fungible Example ETH ERC-20 Just take an example, cryptocurrency is similar to the concept of money. The value of every 100 usd note is completely the same. The token is similar to the concept of stamp, as the design of each stamp may be different. The identical and special differences sometimes make its value reach over millions of dollars. Where to buy cryptocurrencies? There are several ways to buy cryptos, including: P2P (peer-to-peer) You can purchase Bitcoin directly from another individual in person or over the web in your own way. The transfer of the coins is done by sharing the public key of your wallet with the sender. DEX (Decentralized exchanges) Decentralized exchanges (DEX) is a type of cryptocurrency exchange which is set up for direct peer-to-peer cryptocurrency transactions to take place online without any intermediates. CEX (Centralized exchanges) Centralized exchange (CEX) is a type of cryptocurrency exchange which is set up by a third party to verify the transaction and manage the account. It acts as an intermediary between the buyers and sellers in the crypto market. It may be the simplest and most convenient option for crypto newbies as CEX acts like a guardian to lead them in the volatile cryptomarket with reliable security and regulations to prevent cheating from happening. Don’t you have an account on Bitget yet? Register a Bitget account now.