Cryptocurrency

Unlocking the Future of Finance: Dive into the World of Cryptocurrency!

Are you curious about the digital revolution that's reshaping our financial landscape? Look no further than cryptocurrency! More than just digital money, crypto represents a groundbreaking technology built on decentralization, security, and transparency.

What is Cryptocurrency? At its core, cryptocurrency is a digital or virtual currency secured by cryptography, making it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

Why Should You Care?

Decentralization: No single entity controls it.

Security: Advanced encryption protects your transactions.

Transparency: All transactions are recorded on a public ledger.

Potential for Innovation: From DeFi (Decentralized Finance) to NFTs (Non-Fungible Tokens), crypto is constantly evolving.

Whether you're an investor, a tech enthusiast, or just curious about the future, understanding crypto is becoming increasingly important. Start your journey today!

#Crypto #Blockchain #DeFi #cryptocurrency #FutureOfFinance

So the #Chainlink project, whose token is LINK, is a very interesting project when you focus on a part of the ecosystem. So, I’ll specify—before talking about Chainlink, I’ll talk a little bit about Ethereum. In fact, Ethereum arrived in 2015, so after Bitcoin. And what came with Ethereum? Notably, all the NFTs (non-fungible tokens), but also smart contracts, which opened the way to the world of DeFi, decentralized finance.

For a smart contract to work, what information does it have access to? It has access to on-chain information, meaning information on the blockchain. But it also needs information from the real world, which is off-chain.

For example, a smart contract—for people hearing this term for the first time—is like placing a sports bet on a football match. I’ll bet in crypto and say that this team will win, or maybe even that this player will score during the match. For the smart contract to execute automatically, we will need information from the real world. So, I’ll need to know which player scored, which team won, and ideally in real-time.

This is the purpose of oracles. Oracles provide data that is as relevant as possible and as unmanipulated as possible, so contracts can execute properly.

And Chainlink, what is it? It’s a network of decentralized oracles. This is where it gets interesting: because they are decentralized, the data is, in principle, more accurate and reliable. And this is ultimately their market, and it is what makes it possible today, especially on Ethereum, since they developed directly on Ethereum, to have smart contracts that work extremely well.

Chainlink is the biggest; there are others. Competitors are gradually appearing, but for now, Chainlink is very well positioned. What it does is that it bridges the traditional world with the blockchain world. And we actually need oracles. Few people really know the importance of oracles, but when you look at smart contracts, they are essential.

Chainlink appeared in 2017 and did an ICO (Initial Coin Offering), which means it was the first time you could buy LINK tokens. At the time, they raised more than $32 million, which was quite a large amount. Since then, they have made very interesting partnerships.

Now, back to the LINK token. What is it? It is not an ERC-20. ERC-20 is the protocol most often used when a project does not have its own blockchain but builds on the Ethereum blockchain. ERC-20 tokens are the small tokens a project creates when it doesn’t have its own blockchain, and it develops on Ethereum.

LINK is an ERC-677. It’s a bit the same as ERC-20, but a slightly more advanced version. In one transaction, you can do more things in broad terms. I’ll try not to be too technical, so it’s not confused with NFTs, which are ERC-721.

Since 2017, LINK has partnered with JP Morgan, very recently, for everything related to the tokenization of traditional assets. This shows awareness of major players in the traditional sector. Also recently, it partnered with SWIFT, i.e., banking messaging, to help UBS in particular with the tokenization of their funds.

And there are LINK ETFs coming. This means there will likely be institutional demand for large-scale purchases. Therefore, LINK is very well positioned. And what I think is that the more demand there is for tokenization, the more important decentralized oracles like LINK will become.
$LINK
#Ethereum #cryptocurrency #cryptotrading #cryptonews

​Заява Акбара Хасана Беклоу, генерального директора Іранської електроенергетичної компанії, про те, що 95% операцій з майнінгу криптовалют в Ірані здійснюються незаконно, проливає світло на величезну проблему в країні. Ця цифра шокує, адже вона вказує на широкомасштабне використання електроенергії для видобутку цифрових активів без відповідних дозволів та сплати податків.
​Основною причиною поширення нелегального майнінгу є різниця в ціні електроенергії. В Ірані діють субсидовані тарифи на електроенергію, що робить її надзвичайно привабливою для майнерів, які прагнуть мінімізувати свої операційні витрати. Однак, несанкціоноване використання електроенергії створює значне навантаження на національну енергосистему, призводячи до перебоїв у постачанні для населення та підприємств.
​Влада Ірану вже давно бореться з нелегальним майнінгом, закриваючи ферми та конфіскуючи обладнання. Проте, висока прибутковість цього бізнесу продовжує приваблювати нових гравців. Ця ситуація підкреслює складність регулювання криптовалютної індустрії в країнах, де існують значні економічні диспропорції та високий попит на альтернативні джерела доходу.
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