Author: changehero
November 26, 2019

Blockchain and cryptocurrencies have always remained in the limelight regardless of the policymakers’ decisions. These technologies were usually discussed and often debated. There are a plethora of events that showcase the developments and brainstorms the future of the blockchain. There is no better way to end this year than by attending some of the most […]

Crypto event to attend by ChangeHero

Blockchain and cryptocurrencies have always remained in the limelight regardless of the policymakers’ decisions. These technologies were usually discussed and often debated. There are a plethora of events that showcase the developments and brainstorms the future of the blockchain. There is no better way to end this year than by attending some of the most exciting blockchain conferences this December.

ChangeHero has shortlisted a few crypto events that are a must-visit this December. These events will help you to earn insights about blockchain, crypto and their future.

World Blockchain Summit

Date(s): December 1–2, 2019

Venue: Intercontinental

Location: Bangkok, Thailand

World Blockchain Summit
Source: World Blockchain Summit

Cryptocurrency has been gaining attention in Thailand, thanks to the efforts of Dash for mass adoption. In addition, the country has massive blockchain adoption program that includes 22banks and enterprises working towards a common payment system for the country. World Blockchain Summit is an event that brings together CEOs, influential people in the blockchain industry and discusses the future of crypto and blockchain.

The event features keynotes, panel discussions, product exhibitions, tech talks and pitch competition with an investment prize of a whopping $1 Million. The gathering discusses intriguing topics like The Transformational Power of Blockchain, State of the Blockchain Ecosystem, Infrastructure for Blockchain 3.0 and many more. It is also the place to network and gain the attention of the investors for funding your projects.

Keynote speakers include Prin Panitchpakdi(Deputy Leader & Head of Economic Team, Democrat Party), Felix Mago (Co-Founder, Dash NEXT & Dash Thailand), Kullarat Phongsathaporn (Partner, Baker & McKenzie Ltd), Jirayut Srupsrisopa (Co-Founder and Group CEO — Bitkub Capital Group Holdings Co., Ltd, Board of Director — Thai Fintech Association), Matt Adamski (CEO, USA/International Sales Director, Coinkeeper) and others.

Next Block Conference Asia

Date(s): December 3, 2019

Venue: W Hotel Bangkok

Location: Bangkok, Thailand

Next Block Conference Asia
Source: Next Block Conference Asia

Next Block Conference Asia aka Next Block Asia 2.0 would be the perfect beginning to this holiday season. The conference goes with the tag line “Affiliate Marketing In The Age of Crypto” is emphasized on the marketing sphere of the cryptocurrencies and blockchain applications. The event brings together experts, industry leaders and influencers in crypto.

Next Block Asia 2.0 features discussions on affiliate marketing, content, gaming and networking sessions. Next Block Gurus Awards debuts this year in the conference and recognizes the best services and influencers in the crypto industry. The extravagant after-party organized by the ASIA FashionTV brings in the glamour and glimpse to the conference.

Next Block Asia 2.0 will include speeches from Neo Say Wei, Eric (CEO, Neo & Partners Global and RF International Holdings), Giacomo Arcaro (№1 European ICO Growth Hacker, ICO STO Advisor, University Professor), Kevin Reddy (Managing Partner, Reddy & Co.), Felix Mago (Co-Founder, Dash NEXT & Dash Thailand) and others.

ELEV8CON

Date(s): December 8–11, 2019

Venue: Sahara Las Vegas

Location: Las Vegas, USA

ELEV8CON
Source: ELEV8CON

ELEV8 is one of a kind crypto conferences which connects the Fortune 1000 with market leaders in the crypto sphere and startups. Enterprise Blockchain and Digital Assets are given utmost priority at this conference. Thought leaders from various parts of the world meet here to discuss and debate on topics such as blockchain technology, enterprise application, distributed ledger technology and investment strategies.

The event features workshops, panel discussions, case studies and networking events. ELEV8CO is the place to visit for companies irrespective of the industry to connect with the innovators and explore how the blockchain technology can be employed in the current projects.

Keynote Speakers include Jason Kelley (General Manager, Blockchain Services, IBM), Beralda (Ada) Kokoshi(Digital Product Development Lead & VP, State Street), Alex Mashinsky (Founder and CEO, Celsius Network), Phil Kelly (Executive Director, Business Development, ConsenSys), Ian Calderon (Majority Leader, CA State Assembly) and others. In addition, we will be seeing executives from multi-national companies like IBM, Microsoft, FedEx, JPMorgan Chase &Co, Ripple, Oracle and many more.

BII Summit

Date(s): December 11, 2019

Venue: RITZ-CARLTON JBR

Location: Dubai, UAE

BII Summit
Source: BII Summit

We’ve saved the best for last, The Blockchain Innovation and Investment Summit’s motto is to connect blockchain companies with the investors. With the Dubai Blockchain Strategy 2020 up and running, Dubai evolved to be one of the go-to destinations for investments in blockchain.

The event is set on a large scale with over 2000 attendees including Tech companies like Google, Microsoft, Facebook and IBM. Experts in the blockchain will be discussing various topics to bust the myths about Blockchain. BII Summit is the perfect spot to fund your business and kick-off your holiday season in the Sandy Beaches of Dubai.

BII Summit will have speeches and discussions from the masterminds in the blockchain. Some of them include Eric Demuth (CEO, Bitpanda), Jeffe Koumbou F (Head of Innovation & Dev at Global Investment Trading), Amine Sabri (Senior Manager at Ernst & Young), Alyze Sam (Community Director at World Ethical Data Forum) and others.

All the above-mentioned events are unique and have a common goal of making things better by the implementation of blockchain technology. Attending these conferences would equip you with all the knowledge and investments for your next project.

This holiday season we are coming up with exciting offers and giveaways.

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Author: changehero
November 22, 2019

Ever since the inception of the Internet, the interconnectivity in the real-life has grown significantly. Apart from the people, devices we use have been connected to each other to enhance the usability, thanks to the Internet of Things (IoT). On the contrary, Blockchains have remained to be isolated and communication with each other is near […]

Cosmos - Internet of Blockchains by ChangeHero

Ever since the inception of the Internet, the interconnectivity in the real-life has grown significantly. Apart from the people, devices we use have been connected to each other to enhance the usability, thanks to the Internet of Things (IoT). On the contrary, Blockchains have remained to be isolated and communication with each other is near to impossible. Cosmos attempts to fix this issue by building a network among them called the “Internet of Blockchains”.

In this post, ChangeHero explores the project and gives you a glimpse of the Cosmos.

Cosmos

Bitcoin is the first and most popular blockchain application to be ever created. But, it fell short of keeping up with the change in the needs of the people. The pursuit of unleashing the complete potential of the blockchain gave rise to Ethereum. It is often entitled to be the torchbearer for the Second Generation of Blockchain and let developers build decentralized applications. These dApps automatically get processed when certain conditions are met and addressed as Smart Contracts.

Though the current blockchain technologies are impressive, they have a few setbacks. Firstly, scalability is a big concern as the network is limited to process only 15 transactions per second in case of Ethereum which is far behind the traditional payment systems. Secondly, its usability has been criticized due to the restrictions in the design and efficiency of the application. Finally, Interoperability is a feature that many networks lack making it extremely difficult to communicate with across the blockchains.

Cosmos - Internet of Blockchains
Source: Cosmos

Cosmos seeks to address these challenges by arming developers with tools to build blockchains easily and break down the walls between them ultimately leading to the Internet of Blockchains. In simple words, Cosmos is a decentralized ecosystem of blockchains that can interact and transact value with each other.

Tendermint BFT

Unlike the rest, in the Cosmos protocol, Tendermint BFT(byzantine fault-tolerant) bundles the networking and consensus layers as a generic engine. It enables the developers to focus more on the development of the application rather than on the underlying protocol. Developers can also build Private and Public blockchains on top of the Tendermint. As a result of this engine, block time is reduced to 1 second and scalability is dramatically improved and will be able to process thousands of transactions per second.

Cosmos SDK

In order to enhance the usability, Cosmos provides its developers with Cosmos SDK which eases the process of developing the Application Blockchain Interface (ABCI). In addition, developers can also use any programming language to create applications. The main purpose of the SDK is to be modular and it can also be used to migrate the Ethereum Virtual Machine into an SDK module.

Inter-Blockchain Communication protocol (IBC) AKA Internet of Blockchains

Cosmos Hub
Source: Cosmos

In the Cosmos, Heterogeneous Chains are the individual blockchains built with different layers and unique governance. IBC allows the transfer of tokens and data between two Heterogeneous Chains using the Instant Finality property of Tendermint consensus. These chains are further grouped into zones which are connected to the Hubs. These Hubs are blockchains specifically designed to connect the chains and transact value among them. Cosmos Hub is the first blockchain to be launched in the Cosmos Network.

An ATOM

Cosmos: ATOM
Source: Cosmos

ATOM is the native token of the Cosmos ecosystem. The coin is not minted and is not meant for paying the fees to the transactions. ATOM can be used to delegate to the validators and earn more through Proof-of-Stake. Token holders also have the opportunity to vote in the governance of the Cosmos. As of writing, ATOM was being traded at $3 per token with a total market cap of over $500 Million and stands among the Top-20 cryptocurrencies.

Connecting the dots

All in all, Cosmos eases the process of creating blockchains and enables inter-communication among them. It is a unique project that is laying the foundation for the third generation of the blockchain. We believe that Cosmos has a huge potential and in the near future, ChangeHero will be integrating the ATOM token for instant exchange.

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Author: changehero
November 20, 2019

Technology has revolutionized the way we spend or transact money. While the internet and payment services have made transactions accessible to everyone, Blockchain has taken it to the next level by eliminating the centralized parties. Though this new tech has provided a breakthrough in the peer-to-peer transactions with enhanced security and minimal to zero fees, […]

FIO: Swapping Public Addresses with Usernames

Technology has revolutionized the way we spend or transact money. While the internet and payment services have made transactions accessible to everyone, Blockchain has taken it to the next level by eliminating the centralized parties. Though this new tech has provided a breakthrough in the peer-to-peer transactions with enhanced security and minimal to zero fees, yet its usability was criticized.

FIO Protocol, a first of its kind, is on a mission to redefine and loosen the process of transacting value with crypto. In this post, ChangeHero will explore the FIO Protocol and brings you everything you have to know about it in one place.

FIO: A string that makes sense

Traditional payment systems incorporate a user ID or email to process the transactions, but one’s privacy is at risk in such cases. Whereas, cryptocurrencies lay a major emphasis on user privacy by incorporating unique address to transfer the funds. This makes it almost impossible to connect a person to the transaction in the real world.

Crypto wallet address memes
Source: ChangeHero via imgflip

Usually, public address is a long string of alphanumeric characters. Many a time we see newbies scratching head to conduct a transaction. Also, we see people sharing their public addresses to peers for payment requests. This has been troublesome for many users and can also lead to hacks in the process of sharing the address.

This is where the FIO Protocol comes into play. The Protocol provides users with the facility to opt for a unique name instead of the wallet address for transacting value. FIO platform is an open-source, decentralized blockchain protocol that aims to ease and reduce the risk of transacting value across the blockchain.

FIO stands for Foundation for Interwallet Operability, a consortium of wallets, exchanges and crypto payment processors who support the protocol. Initially, the project was launched in 2018 by Dapix Inc. as a delegated proof-of-stake (DPOS) blockchain that connects cryptocurrency exchanges, wallets, and applications and quickly gained traction in the crypto community.

Perks of FIO

FIO features
Source: FIO

There are three major features that set FIO apart from the rest.

FIO Addresses:

FIO fixes the mess of public address with its protocol. A user on any FIO integrated wallet can set up a unique wallet name. The same name can be used for all the coins and tokens across various blockchains. This peculiarity is one serious crowd-puller of this platform as it reinforces privacy by hiding the public address. Also, it eliminates any human error that may possibly lead to the loss of funds while using the public address. The name is stored in the FIO blockchain in the form of a hash and the relative public address is encrypted. Besides, refunds will be much easier as there is no necessity to request the sender’s address.

FIO Requests:

FIO also enables its users to send requests for payments from one FIO enabled wallet to any other FIO enabled wallet. The requests come in handy while making a purchase or splitting a bill in a cafe. Requests consist of details such as payee’s FIO name, payer’s FIO name, token type, amount and any metadata. All the details are encrypted in the FIO blockchain and can only be deciphered by the counter-party. As soon as the payer accepts the request, the transaction is broadcast to the native blockchain without the involving FIO Protocol.

FIO Data:

All the transactions that were conducted through the FIO will contain a set of details to identify what a particular transaction is for. At the moment, users will be able to write a note to indicate the purpose of the transaction. Furthermore, the FIO team hints that in the near future, the protocol would be able to generate invoices and complex order cart in the FIO Data.

Right on the money

FIO address can look something like username: domain. According to their roadmap, FIO address can accommodate up to 64 alphanumeric characters whereas it is 62 for FIO domain. FIO enabled wallets and exchanges will have their own domains and users will be able to purchase a username or can also go a mile further by bidding on fancy custom domains.

piggy bank
Photo by Fabian Blank on Unsplash
All this comes with an affordable price tag and users can reserve or bid through the FIO Address Pre-Sale. The initial purchase of the address is bundled with 500 transactions and to retain the FIO address, users have to pay a small annual fee. Also, FIO tokens function as the utility tokens of the protocol and can be used to pay for the renewal of the username and replenishment of the transactions.

The project has raised an impressive $5.7 million in a funding round with Binance Labs leading in the front this September. As of writing, 24 different blockchain firms pledged their support to the FIO foundation which includes key players in the market like BRD, Trust Wallet, Coinomi and Shapeshift.

One of a kind

FIO testnet is up and the team is working closely with the supporters getting ready for the public release in the Q1 of 2020. Finally, yet importantly, it is worth acknowledging that FIO Protocol has the potential to enhance the usability of the blockchain payment systems. The protocol is one of a kind and would spark the mass adoption of the cryptocurrency by making it easier to transfer value.

What do you guys think about the FIO protocol? Do you have any interesting ideas for the FIO names already? Let us know in the comments below.

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Author: changehero
November 15, 2019

Though the financial crisis ended a decade ago, there is an evident turmoil that still exists in the global economy. Many experts suggest that a crisis will hit soon in 2020 and might lead to another economic catastrophe. With the speculations of a recession, curiosity about cryptocurrency as an alternative to the traditional investments has been soaring. While crypto fanatics consider Bitcoin as Digital Gold and a Safe haven, economists are sceptical […]

Will Bitcoin be the saviour if a global crisis strikes again?

Though the financial crisis ended a decade ago, there is an evident turmoil that still exists in the global economy. Many experts suggest that a crisis will hit soon in 2020 and might lead to another economic catastrophe. With the speculations of a recession, curiosity about cryptocurrency as an alternative to the traditional investments has been soaring. While crypto fanatics consider Bitcoin as Digital Gold and a Safe haven, economists are sceptical about it.

In this post, ChangeHero will elucidate how bitcoin would be performing in a recession and what would be the impact of an economic crisis over it.

Amidst a Turmoil

For starters, a financial crisis is a situation where assets see a sudden fall in their value. In such cases, consumers and businesses will be unable to pay their debts. This results in a chaotic behaviour like investors selling off assets and withdrawing savings. The financial crisis of 2007–2008 has the most devastating effects. It was caused due to the subprime mortgage lending in the US and infested the whole world with stock markets plummeting.

Bitcoin meme
Source: ChangeHero on imgflip

Amidst the clamour of the global recession, Satoshi Nakamoto launched the Bitcoin in 2008. The genesis block of the first-ever transaction on blockchain contains the following message, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. The quote manifests the dissatisfaction of Satoshi over the flaws of the traditional financial systems. It is evident that the 2008 global financial crisis inspired the birth of the Bitcoin stimulating a radical move to liberate the economy from brick and mortar banks.

Good as Gold

Till the ’70s US Dollar was backed by the Gold reserves and Gold enjoyed the ultimate position in the hierarchy of money. It is believed that Gold preserves wealth while the value of the dollar is eroded due to inflation. Though the Gold Standard System was abandoned, Gold is still considered to be a safe haven for investments and serves as a hedge. During political and economic turmoil, investors look towards hard assets and invest in Gold. Besides, gold is also a diversified investment that is not correlated to the stock, bonds and real estate.

Gold price in USD during the Global Crisis 2007 -2008
Source: Trading View

Contrary to the popular beliefs that Gold would raise during inflation, Gold prices dropped during the global crisis 2007–2008, though not as worse as the rest. This can be connected to the severe liquidity shortages faced by the banks and the flawed countermeasures. To make things worse, banks ran out of the eligible collateral and came up with expedient to sell off the borrowed Gold. This sky-rocketed the supply of the Gold in the market and prices fell by around 30% reaching $740. Despite this fall, Gold was the first to recover after the crisis and regained its position as a safe haven in the following years.

Bitcoin and gold
Photo by Aleksi Räisä on Unsplash

Lately, Bitcoin is being called the “Digital Gold” due to its similarity with Gold. Bitcoin is scarce as only 21 million of them will be mined and Gold is also considered to be a scarce good as well. Both of them are extremely durable and are fungible. In some cases, bitcoin has an edge over the former like storage capability, mobility, security, and ease of use.

Looming Crisis

In the event of an economic crisis, there are two possible scenarios.

The first would be a liquidity crisis in which people find it hard to pay off the debts and run out of money. In such circumstances, people will be selling off their bitcoins to pay the bills. This would result in the excess of supply and lead to a fall in the price of the digital currency.

On the other hand, if a currency crisis occurs, Bitcoin would be faring well. In a currency crisis, the value of the money drops and people lose trust in it. In this regard, people lean towards the assets to store their wealth like Gold. Bitcoin has more odds to pull the audience as it is easier to acquire it during economic instability.

There has been growing evidence suggesting that in crisis-stricken economies where the currency is highly inflated, crypto is functioning as a daily driver (Give this article a quick read for more info). Bitcoin has the potential to be a safe haven for investors during a currency crisis. Though it appears to be promising, there are a few concerning blotches such as volatility, technical limitations, lack of awareness and trust. Regardless of the downsides, crypto enthusiasts and investors argue that Bitcoin will be a viable alternative to Gold during an economic slowdown.

A Safe Haven in the Long Run

The notion of Bitcoin being “Digital Gold” is feasible. However, gaining the confidence of the masses take enormous time and in the long-run, it would possibly be a safe-haven for investors. If so a crisis occurs in the near future, it would trigger the awareness and adoption of bitcoin and cryptocurrency. Nevertheless, Bitcoin has the potential to enable instant payments for everyday use.

If you like this post leave us a comment below to spark a discussion and share it with your friends.

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Author: changehero
November 7, 2019

Since its inception, Stellar has always been on top of the charts. It is a unique project that is aiming to redefine the cross-border money transfers. ChangeHero brings you a series of articles which would give you some useful insights about this interstellar of a project. This first article introduces you to Stellar, how it […]

Stellar and money transfer across the borders

Since its inception, Stellar has always been on top of the charts. It is a unique project that is aiming to redefine the cross-border money transfers.

ChangeHero brings you a series of articles which would give you some useful insights about this interstellar of a project. This first article introduces you to Stellar, how it works and resolves the issues faced by the protocol for enabling instant money transfers.

Stellar and its perks

To begin with, Stellar is an open-source payment protocol built to connect banks, businesses and people. Stellar aims to provide frictionless, quick and cheap transactions anywhere in the world at a fee costing less than a penny.

Jed McCaleb and Joyce Kim developed Stellar in July 2014 after a rift with the Ripple. The project is completely decentralized and a non-profit organization, Stellar Development Foundation, was set up to support the development and growth of the Stellar Network.

Ripple and Stellar appear to be identical twins but have fundamental differences. The former is a closed system whereas the latter is an open-source protocol. Lumen is the network’s native digital currency and stands among the most valuable cryptocurrencies. As of writing, Lumen was being traded at a price of $0.078407 with a total market cap over 1.5 Billion Dollars.

crypto meme
Credits: ChangeHero via imgflip

Unique features of Stellar

  • Transfer money across the world
  • Usage of real currencies
  • In-built decentralized exchange
  • Cheap and nearly free transactions
  • Confirmation times ranging from 3–5 seconds
  • Capable of processing thousands of transactions per second

No more waiting for transfers

Here’s a simple example of a real-life event where Stellar can be used.

Let us assume that Mr.X is a developer in the hustle and bustle of New York. He has to send $100 to his mother in Vietnam. Sounds simple but there’s a catch, their banks are not connected. Neither he has the time to stand in a queue nor the strength to pay the heavy fees laid by the money transfers.

Stellar website
Source: Stellar

This is where Stellar comes into play. Suppose, those two banks are connected to the Stellar Network then Mr.X can simply open an account in Stellar and send money through the protocol. His mother would receive the total amount in the local currency within seconds.

The same can be used by the banks, business entities or financial institutions to transfer money across the planet.

But how do they do it?

In order to bridge the gap and enable instant money transfers across the world, Stellar has to overcome three major issues.

Firstly, representing all the assets and currencies digitally, then exchanging these currencies on-the-go to enable interchangeability. Finally, resolving the double-spend problem.

Stellar uses a three-layered protocol to tackle these issues.

An anchor to hold your boat

To solve the issue with the representation of the currencies and assets digitally, Stellar protocol uses Anchors. Any business entity or financial institution can issue tokens on the Stellar platform and these issuers are called Anchors. For instance, a bank in New York can use the real-world assets like dollars, euros etc and convert them into Stellar tokens. Similarly, blockchain firms can issue crypto on the network. These tokens can be transferred from one person to another, stored and can be traded too.

Cash in your chips

Stellar user interface
Source: Stellar

Stellar protocol features an in-built decentralized exchange to overcome the interchangeability issue. The DEX permits trading of one token to another which are represented in an order book in the Stellar ledger. The in-house DEX is capable of performing direct exchanges by simply swapping one currency to another. In-direct exchanges by the incorporation of Lumens in the exchange process. And also by Conversion Chain, in which a series of conversions take place to reach the final required currency at the best rates. For instance, if we consider the case of Mr.X again, USD can first be converted to INR and then to BTC and later BTC to Yuan and finally Yuan to the Vietnamese Dong.

Consensus

Stellar uses the Stellar Consensus Protocol (SCP) to prevent the double spending of the tokens issued on the network. SCP requires significantly less amount of energy and charges a very small fee. It also has the capability to sign thousands of transactions per second which is a major leap over Bitcoin and competitors. Besides, consensus doesn’t have a centralized entity and user have the facility to pick the validators.

These three layers form the core of the Stellar protocol and enable seamless money transfers among different parties across the planet.

What does Lumen actually do?

Stellar lumens
Source: Stellar

As explained earlier, Lumen is the official cryptocurrency of the Stellar network. It is abbreviated with XLM and unlike the rest, it is an inflationary currency.

To send or hold money on the Stellar network, a user has to hold Lumens. For every transaction, Stellar charges a small fee which is way smaller the traditional banks and money transfers. This fee can be paid only in Lumens. It also functions as an intermediate asset, aka bridge asset to perform the indirect and chain exchanges.

Discussion about Lumen, its performance and factors affecting it would definitely deserve a separate article. Watch this space for the next article in this series of stellar articles, pun intended. 🙂

An Interstellar

On the whole, Stellar seems to be a very promising project. The protocol has backing from big names in the business such as IBM, Deloitte and Wanxiang Group. Decentralization and extremely fast transactions are the biggest crowd-pullers of this project. ChangeHero believes that Stellar network is on its path changing the way we transfer money across the borders and in the near future instant money transfer will be cheaper and easier than emails.

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