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BLOCKCHAIN for the non-technical

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What is Blockchain? What can(not) it solve? Industry by industry Impact of Blockchain

If the barrier to entry is the big issue for cryptocurrencies then education (or lack thereof) is the big issue for Blockchain Technology.
Highlight and Share any textToday we join those that are working toward demystifying the Blockchain Technology for non-technical folks. This whole segment will continue to be updated with all the different topics listed below (and more added as we go along).

In this segment we will learn:

Interview logoWant us to interview your favorite CEO/Executive? Tell us who and why in comments.

In EACH of these industry-specific Blockchain segments, we will explore: 

  • Blockchain use cases in that particular Industry
  • Hurdles to overcome for blockchain adoption in the Industry
  • Companies that are already using Blockchain in the Industry
  • Interview with an industry expert in the space

The next frontier in the Blockchain Evolution: 

Security Token Offerings
Tokenizing: Making illiquid assets liquid

Subscribe buttonSubscribe so you don’t miss the industry expert insights. Do not worry, we never send more than 1 email per week (not even that). 

What is Blockchain Technology?

We explained in detail what Blockchain is in a previous article. For sake of continuity, let’s define what Blockchain Technology in this article, using a simple example.

In the good old days, we used to keep all records in a handwritten ledger book. It was very difficult to tamper the entries in the book without a trace. However, because this book was maintained by one or a few people – you can never be 100% sure about the integrity of the entries made.

Let’s say, every time a new entry is made in this ledger book, we made 100 copies and these 100 copies were held by 100 different people spread out geographically.  When someone tries to tamper a previous entry, a copy of the updated ledger book is sent to these 100 validators and they can immediately see that there is a change in a previous entry that does not reconcile with their copy.

Because the consensus between these 100 validators cannot be obtained, the change made in the ledger book is negated.

This system ensures that once an entry is made, it is never changed.  If there is a change that needs to be made to the original entry, you simply make a new entry at a later date referencing the original entry. In which case, all the 100 validators will agree with it because it did not alter previous entries in their copies.

How can you make sure that some random person is not making these changes to the original ledger book? Well, that’s where the handwriting comes into play. These 100 validators not only check for the integrity of historical data against their copies, but they also check whether the handwriting matches. What is Blockchain
To translate the above simple example into Blockchain Technology terms:

Think of Ledger book as a database, entries made as transactions, copies as the copy of the database maintained by everyone connected to the database, handwriting as cryptography, the validators in our example as the nodes (computers connected to the network) and the process of reconciling/agreeing on changes as consensus.

Blockchain then is a decentralized database that is connected by multiple nodes, each node maintains a copy of the entire database, every time a new transaction is entered into the database by anyone connected to the database, it is checked against the copies on all the nodes connected to the network. If the database copy matches with the copy maintained by the entire network and the cryptographical signature are accurate – then the consensus is obtained with all the nodes. Once consensus is obtained – all the nodes update their copies of the database, thus a new entry is entered.

Simple, right?

As you can see, none of the old entries can ever be tampered with, leaving blocks of information that remain immutable.  These blocks are linked with each other by a cryptographic signature.  You tamper one entry, and the cryptographical signature of all other blocks is altered, and when that happens the tampered entry is rejected and the whole database goes back to its original state.

Because the blocks are chained together with cryptographical signature, the term BlockChain came into being.

The technology that enables this consensus mechanism using cryptographical validation is Blockchain Technology.

A bit of jargon before we move on:

  • Hash: Hash is the alphanumeric (mostly 32 characters) string that acts as the cryptographic signature
  • Mining: The act of participating in the blockchain network to process and confirm the transactions, most blockchain networks need special equipment with high-end computing speeds

What is Proof of Work?

In our example, we said that all the 100 nodes (computers) that are connected to the database validate any changes made to the database by comparing their own databases and matching the cryptographical signature. This means these nodes are doing the work of validating.  Whichever node confirms that the transaction is either valid or invalid after the consensus is obtained from the network, is said to have done the work.

A node that validates the transaction gets a small-fees from the network, as a proof of work performed.

There are other forms of consensus mechanisms, such as, proof of stake, which gives rights based on the ownership of the network instead of a number of nodes.

What is a 51% attack?

In our example, we had 100 validators.  Every time a transaction takes place, to wait for all 100 validators to confirm the transaction takes too long. In the real world, there could be thousands of nodes. For instance, the Bitcoin core has over 10,000 nodes running at the time of this writing. To avoid delays, a democratic approach is embedded in the consensus methodology.

That means, if 51% of the nodes confirm a transaction, that transaction is committed to the network and the databases of the other 49% will be updated with the changes committed to the network.

This is where things get interesting.

There are many blockchain technology solutions available. Some of them are public blockchains and others are private blockchains, there are others that are in between.  We will look at how they differ in a bit, but for now, a public blockchain is accessible by anyone with the right equipment and internet.

Let’s say, on a particular public blockchain technology of your choosing there are a total of 10 nodes. Someone with a malicious intent connects 15 of their own new nodes to this public blockchain.  What this means is that this individual or group can manipulate the entire blockchain since they control more than 51% of the nodes.

This is one of the reasons why companies are choosing private blockchain where every node is handpicked.

There is an argument that private blockchains do not fully realize the true potential of what Blockchain technology can offer.

What is a Public Blockchain?

A Public Blockchain is a blockchain network that anyone with a computer and internet can access.  For instance, you can go to Bitcoin.com or Ethereum.com and join their network, and if you have the right type of equipment, you can even start contributing the hash power to the network.

For instance, you can go to Ethereum.com or Bitcoin.com and start participating in the blockchain network and get paid out fractions in their native currency.

But Public Blockchain’s utility doesn’t end in earning fractions, it spans a much broader landscape.

Many Decentralized Applications (DApps) are built on these open Public Blockchain networks.  When they launch their DApps on these public blockchains, they automatically inherit the massive security of the Blockchain that they are operating on.

This means an individual or a small entity can leverage the massive network strength without shelling their pockets out.

One day, we may find a broader use case for Public blockchains in healthcare, Government operations, money transfer, loyalty programs, etc.

What is a Private Blockchain?

Most companies realize the potential of Blockchain technology, they just don’t like the idea of putting their information out there.

This translated into creating blockchains that access restrictive. This means companies can utilize all the great features of Blockchain while keeping their information safe.

They can also specify who gets participate in their network since most of the participation is based on ‘invite only’.

Private Blockchains, although great, they really do not realize the true potential of blockchain because they lack the strength and transparency of a bigger blockchain. Alex Mashinsky  in our interview mentioned that “those that are working on Private Blockchains are wasting their time.”

In the technology world parlance, Public Blockchain is like the Internet, anyone with the right device and connection can join in. Private Blockchain is akin to the intranet, only those that are connected to the server can join in.

What is a Hybrid Blockchain?

A Hybrid Blockchain is where some parts are accessible by everyone and some parts are restricted for the public. For example, the public may have access to ‘view’ but not edit.  Only a few authorized individuals may have ‘edit/write’ access.

This is a good model for bringing Government related services on to blockchain where you want everyone to be able to ‘view’ Government activities without having access to edit the information.

For instance, identity management could be a good government service that can benefit from Hybrid Blockchain model, everyone with your specific address (or Bar code) can verify your identity but they will not be able to change it.

How does blockchain promote decentralization?

It is important to note that only Public Blockchain protocols are decentralized. Private blockchains are not decentralized.

Public Blockchain achieves decentralization by being accessible to anyone with the required equipment. People with requisite technical skills can see the information committed to most applications launched on these public blockchains.

The idea of accessing the strength of a massive network to launch your own Applications without having to pay the toll for doing so creates an environment where people want to build things that help the public at large.  If in return – creators of these applications are rewarded, well, that is commendable.

The feature of immutability instill trust in people that transact on the public blockchain, this trust leads to skipping the intermediaries (like banks or agencies) that used to play the ‘trust’ role earlier.  Because Blockchain is accessible globally, theoretically, it opens doors to transact with anyone from anywhere.

Trust, circumventing intermediaries, being accessible globally and lack of barriers to entry all help Blockchain promote decentralized commerce.

What are the benefits and shortfalls of Public and Private blockchains?

Public Blockchains are readily accessible, easy to launch your DApps on.  They are also relatively resilient to 51% attack since it takes a lot more computing power to break down some of the big networks.  Public Blockchains truly reflect the spirit of Blockchain.

When you participate in a more popular Public Blockchain, you are competing for processing power, this means, you may have long wait times.  Many businesses cannot afford this kind of wait time. You have to pay a premium to cut the line, this can easily eat into the company’s revenue.

Lack of privacy is another drawback of Public Blockchains.

Private Blockchains are restrictive and are not for broad use.  Since the resources are managed privately – there is not a long wait time to process the transactions like we have in Public Blockchain.  Safety of information can be ensured since you grant access to only trusted parties.

Private Blockchains may help companies but they do not instill the ‘trust’ factor which is the cornerstone of Blockchain revolution.  Collusion is a possibility in Private Blockchain.

What is Cryptocurrency?

what is CryptocurrencyMost people know Bitcoin as the king of cryptocurrencies, but what they may not realize is that Bitcoin also represents the Blockchain.

In its own right, Bitcoin is the first publicly accessed Blockchain with its own fuel/currency to run the network, the Bitcoin cryptocurrency.

What then is a cryptocurrency?

As we learned before, for Blockchain to work, we need computing power. Computing power comes at a cost.  Each Public Blockchain has its own fuel to reward the computing power contributed. This reward that represents a fraction of the value contributed to the Blockchain platform. That reward itself is the Cryptocurrency.  This process of providing computing power (hash) to solve a cryptographic puzzle of sorts is called mining.


In true sense, cryptocurrency is a real earned money! Although it is earned by the computers instead of by physical human labor.

Cryptocurrency is then a byproduct of Blockchain. Blockchain can survive without cryptocurrency but all forms of cryptocurrencies need some Blockchain basis to it.

What makes Bitcoin a store of value is the limit on its total supply. In the end, only 21 million Bitcoins can ever exist. Of these, almost 4 million are lost due to access, hardware issues, ignorance or any number of other reasons.

Not all Cryptocurrencies are mined, though.

Some blockchains pre-mine, that is, issue their platform currency and sell them for fiat currency for operational needs. When someone wants to use the services on their platform – they are then required to pay for such services in the pre-mined currency. This type of currency is known as utility tokens.

Utility tokens because their value is dependent on their usability on the platform. If the platform does not succeed – their value may become zero.

SEC has been warning companies that sell the pre-mined utility tokens that such utility tokens will be regarded as ‘securities’ and not complying with securities laws while issuing utility tokens will have consequences.

How are Blockchain and Cryptocurrency different?

Blockchain and CryptocurrencyCryptocurrency is a byproduct that acts as the fuel to encourage people to provide their processing power.

Blockchain technology can run without cryptocurrency, however, Public Blockchains usually rely on the reward (cryptocurrency) to allure people to commit their computing powers to the network.

Why are companies interested in Blockchain but not Cryptocurrency?

Business adoptionAs discussed earlier, cryptocurrency is a fuel that encourages people to commit their computing power to run the network.

However, since most enterprises do not want to share their information – they favor Private Blockchains.  Private Blockchains do not need Cryptocurrency.

Because of the negative press around Cryptocurrencies and securities boards, action against companies that issued cryptocurrencies (in the name of utility tokens) – companies of repute are trying to steer clear of the tag ‘cryptocurrency’ with their brands.

What does Blockchain solve?

Advantages of BlockchainBlockchain revolution started on the basis of many promises, however, its core promise comes from the technology’s ability to instill trust through immutability.

As we learned earlier, you cannot tamper with the entries once committed to the Blockchain, you always leave a trail that is there for anyone to see.  This instills a new level of confidence in the data that was not available in the traditional databases.

This deceivingly simple ability of immutability can one day help solve the issues of counterfeit, helps conduct intermediary less commerce, cover-ups, etc.

What Blockchain cannot solve?

Blockchain cannot stop bad players from taking advantage of people. Since anyone can access the network, not everyone that is accessing the network comes there with good intentions. There have been many ideas that were ‘proposed’ to be built on blockchain only to empty people of their hard-earned money.

Even with Blockchain, you need to know who is behind a particular project or initiative. If they are trustworthy people then they will build things that utilize the immutability and trust factor of Blockchain.

“Customer beware” applies to blockchain space as well.

The blockchain is NOT foolproof, literally. Human errors do cause mayhem in Blockchain.  Blockchain cannot save itself from 51% attack (people have to) that we talked about earlier.

Blockchain space is also prone to a lot of FOMO and FUD, that is short for Fear Of Missing Out and Fear Uncertainty and Doubt. The only antidote to these vices is education and knowledge.


What is a smart-contract?

Just like Blockchain, the term smart contract is not a new one. Nick Szabo used the term smart contract in his thesis dated 1996 titled “Smart Contracts: Building Blocks for Digital Markets.”

what is smart contractNick explains “New institutions, and new ways to formalize the relationships that make up these institutions, are now made possible by the digital revolution. I call these new contracts “smart” because they are far more functional than their inanimate paper-based ancestors. No use of artificial intelligence is implied. A smart contract is a set of promises, specified in the digital form, including protocols within which the parties perform on these promises.”

To break it down, a contract that can be executed by the system automatically upon fulfilling a set of agreed-upon conditions can be termed as a smart contract.

Nick’s vision to create instant, cheap and efficient smart contracts was just a theory in 1996, however, with the advent of Bitcoin Blockchain, that vision has taken shape.

Contracts executed by the systems on a Blockchain are forever immutable – which advances the trust aspect.

What is Initial Coin Offering (ICO)?

“A healthy dose of skepticism is always good. This bear market is forcing investors to demand more than just a colorful whitepaper,” said Dr. Jemma Green of Power Ledger during our interview.

Unfortunately, that wisdom was too late to arrive for many investors (including us) who invested in Initial Coin Offerings (ICOs) and lost a ton of money, including life savings.  Billions of dollars were raised using ICOs.

ICO model has indeed the paved way to raise capital for great ideas to change the world but no capital.


An ICO is where a company pitches the idea to the general public. If the public believes in the idea, they can contribute whatever is the minimum contribution, usually, the minimum contribution is very low to enable small investors to be able to join in. ICOs are different from crowdfunding on many fronts but one defining difference is that most ICOs are primarily used in the Blockchain space and accept cryptocurrencies as an investment.

ICOs opened up an avenue for raising capital for people and companies that may otherwise never been able to raise the capital.

Another beauty of an ICO is – people from all over the world can contribute capital into ideas they like.  There are few countries that specifically prohibit companies from accepting investments from their Citizens (for example, the United States, China, Singapore, etc.).

Although the idea of ICO has caught bad press in the recent year due to many bad players that scammed people out of their hard-earned money, the concept itself is quite an amazing one. The concept of ICOs will eventually help change the face of traditional capital markets through Security Token Offerings.

Security Tokens are similar to utility tokens issued in an ICO, however, security tokens follow the securities laws of the land instead of circumventing.

Because they are supposedly legal, big businesses can enter into them once the complete framework is made available by the respective authorities.

We use the word ‘supposedly’ since the legal framework within which Security Token Offerings can be issued is not readily available.  Most companies are working within the confines of exceptions and exemptions available in the securities law but a separate Security Token guidance or framework is yet to see the light of the day.

Industry by Industry impact on Blockchain

  • Blockchain and Law (upcoming)
  • Blockchain and Healthcare (upcoming)
  • Blockchain and Real Estate (upcoming)
  • Blockchain and Insurance (upcoming)
  • Blockchain and Supply Chain (upcoming)
  • Blockchain and Financial Services (upcoming)
  • Blockchain and Energy (upcoming)
  • Blockchain and Charity (upcoming)
  • Blockchain and Government services (upcoming)
  • Blockchain and Gaming and Gambling
  • Blockchain and Your Data Rights (upcoming)

Do you have a favorite CEO in Blockchain space who you would like us to interview? Tell us who and why in comments.

Thank you for reading the article.
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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.


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6 Massive Benefits of Cryptocurrency

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Benefits of Cryptocurrency

It is normal to be hesitant about using cryptocurrency as the medium of financial transactions. 

There is a school of thought which believes, it is a domain suitable for criminals, fraudsters, and terrorists. Cryptocurrencies allow them to maintain anonymity for discreet transactions and ransomware scams.

However, the increasing acceptance of Bitcoin as a digital currency has initiated a positive perspective around this mode. It brings a distinct set of pros for the users, making them overlook the risks tag along.

According to the Finder, a post on social media surfaces about Bitcoin every three seconds. If we do the math, it means 1203 posts pop up per hour, making it to 20 posts per minute.

A more general view on the crypto landscape speaks of its overall growth, too. Block Social tells us how cryptocurrency exchanges around the globe have exceeded 300 during 2020.

In fact, the success of crypto shows us the loopholes of the traditional banking system. If you, too, want to leap on this bandwagon and aren’t sure about your next move, this is the right place. Our blog sheds light on the positive aspects of cryptocurrency that make it a more established form of financial trade. 

Healthereum

1. Easy transactions

When dealing with brokers or legal representatives, you have to pay the transaction fee from time to time. This comes along with immense paperwork, commission, brokerage charges, and so much more. Using cryptocurrency eliminates the need for a middle man. The transaction changes into a one-to-one affair taking place on a secure network.

No wonder Forbes stated that adopting blockchain technology can save financial organizations around $12 billion yearly. A deduction of extra charges from third parties and reduced operations cost is saving millions for huge organizations.

Moreover, the transactions are transparent, making it easier for you to establish audit trials. There is no more confusion over who pays whom. All parties involved in the transaction know each other quite well. Accountability on each party grows.

2. Asset transfers

A financial analyst rightfully describes cryptocurrency blockchain to be a “large property rights database.” On the one hand, it helps execute and enforce two-party contracts on commodities such as real estate and automobiles. At the same time, it also facilitates special modes of transfer. 

As per Born2Invest, Bitcoin alone is responsible for an average of 350 000 daily transactions on the Blockchain. Meanwhile, Coinbase has 30 million cryptocurrency users (Block Social). The increasing figures of each crypto speak of its acceptance worldwide.

The parties involved in asset transfer can design contracts and add third-party approvals at a later date. It also helps to reference the external facts and gives the parties exclusive governance of their account. It reduces the time and money involved in asset transfers. Perhaps this is why US federal government spending on Blockchain shall reach $123.5 million by 2022.

3. Confidential transactions

Cryptocurrency purchases remain discreet. Unless a user voluntarily publishes his transactions, the purchase is never associated with their identity. In official scenarios, such as when you put your cars for sale, the parties must reveal an association with their cryptocurrencies. It helps to establish trust and relevance.

Within the cash/credit system, your entire transaction history turns into a reference document for the banks/credit agencies involved. On the contrary, cryptocurrency is a transaction that is a unique exchange between two parties. They can negotiate and agree on preferable terms. The information exchange takes place on the “push” basis. This means you transmit only that which you wish to send to the recipient and nothing else.

It keeps your financial history secure and guards you against identity theft. Chances of which are quite high under the traditional transaction system. 

On top of this, the combination of Blockchain with IoT is considered revolutionary by the experts. This has accelerated data exchange, lowering the operation costs, and improved the security of files. Your Tech Diet predicted that 75% of the IoT industry would adopt Blockchain technology by the end of 2020. Lack of exposure is, thus, something the entire industry is looking for.

4. Transaction Fee

You have probably faced hefty monthly account statements from your bank/credit companies. The transaction fee charged at every transaction you have made might leave you shocked. The whopping fee of multiple transactions can take you by surprise at the end of each month.

In the case of cryptocurrency exchange, the data miners receive their share from the cryptocurrency network involved. Transaction fee does not apply as the remote and separate computer systems that do the number-crunching get a pretty fair share. 

According to Investopedia, the Bitcoin reward for miners halves for every 210 000 blocks added to the chain. Nonetheless, this system has freed the transaction parties to pay the fee, making it the most feasible. 

However, there might be some external fee involved if you engage a third-party management service to maintain the crypto wallet. These charges are likely to be quite less than the transaction charges levied by the traditional banking system. 

5. Hold Ownership

The traditional banking system works in a manner where the amount goes to the nominee if a person passes away. The chances of the account closing are quite high when you infringe the terms of their services. Unlike this framework, digital currencies give you the sole ownership of private and public encryption keys. This makes it easier for you to identify the encryption network.

6. High security

Once a party authorizes the cryptocurrency transfer, they cannot reverse it. This is not the case in “charge-back” transactions allowed by the credit companies. Cryptocurrency gives you reliable encryption throughout the transaction process to keep it protected from bugs and malicious entities.

Systems like Binance Smart Chain are enabling people to do more with BTC.

Final Thoughts 

Cryptocurrency is taking the financial world by storm, and we know the reasons why. It is about time you kickstart your digital finances journey and make the most out of it. Who knows what surprises are about to come later in this landscape!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cardano or PolkaDot? Which One to Invest In?

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Cardano vs Polkadot

There is a new battle in the crypto space.  Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.

The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.

Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.

Decentralization

The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.

Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.

With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.

However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.

ADA: 8 (top 10 is reserved for BTC)

DOT: 6

Team

Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure.  You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.

DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space. 

However, as we learned in basic math, sum total is always greater than an individual unit.  This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.

Having Charles Hoskinson helps ADAs impression.

ADA: 8

DOT: 6

Social presence

There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.

While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.

ADA: 9 

DOT: 7

On a mission

Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.

Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.

While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.

ADA: 8

DOT: 6 

Miscellaneous considerations 

Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.

Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.

Inflationary supply

DOT has an inflationary supply model while ADAs supply is capped.

Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.

Mainnet

DOTs technology is operational and is onboarding projects already.  ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.

Conclusion: Total score

ADA: 33

DOT: 25

If you are a DOT fan you might think this score is skewed.   If you are an ADA fan you might think it should score perfect points in all fronts.

In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Best of the Best YouTube Channels to Follow for your Crypto Fix

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Best Crypto Youtubers

There are literally 100s of crypto-experts on YouTube who claim to have cracked the secret code that can make you millions in crypto riches. 

Who should you follow?  

We have followed many YouTubers, subscribing and unsubscribing to avoid the noise and after having been in this space for over 4 years, we have narrowed our favorite crypto YouTube channels to just a few.

In this article, we will show you our favorite YouTubers and what we like about each one of them. 

Overall number 1: Coin Bureau

coin bureau When it comes to deep analysis, composed demeanor and outright professional crypto channel in the entire space, we have not come across anyone better than Guy.  

Not only is he great at the reviews and in depth analysis, if you have followed the channel long enough you will realize that he reviews the gems long before others pick on the momentum.  

He picks solid projects, never shills a shitty project to his followers and is upfront about his views which he backs up with solid research.

This is the best no-shill and no bull crypto channel on YouTube in our view.

Best original content: Chico Crypto

chico crypto review

If you love a bit of quirky, goofy and somewhat out there viewpoints on the crypto space then there is no one better than Tyler at Chico Crypto. 

His investigation stretches the boundaries of research (and sometimes common sense) but he does do a bang up job on every video.  

I am yet to come across a boring video on this channel.  I will admit that his live streams can be a drag sometimes but his followers seem to relish his presence.

You may not like or agree with what Tyler presents on this channel but you will absolutely be floored by the originality.   

Best TA: TIED: Crypto Capital Venture & Tyler S

                         Crypto Capital Venture Tyler S crypto

With under 90K subscribers at the time of this writing, Dan may not be the most popular of the Crypto channels [yet] but his TA analysis is just so easy to follow.

Dan makes it easy for non-technical folks to understand what’s going on in the market in the language of TA.

There are other folks on YouTube who are good at TA but their videos are so obnoxious that they leave you with a massive headache.  

Not Dan’s Crypto Capital Venture channel.   Dan walks you through the markets in such a calm, composed and professional manner that you might start caring about those candles.

We are forced to share the Best Title for crypto TA on YouTube with Tyler S. 

Tyler’s expertise on TAs is quite awesome and he has a funny way of delivering it too.  

Best expertise on the markets: Alessio Rastani

Allesio RastaniIt doesn’t matter if you are just lurking around the crypto markets or if you trade in the traditional markets…Alessio is one of the best guys on YouTube for great insights into the broad market and its impact on Crypto.

While everyone on YouTube (not the people on this list, of course) is either quick to FOMO or FUD, Alessio is just grounded in fundamentals and technicals.

When you are high on FOMO, he can bring you to the ground.

When you are getting buried in FUD, he can lift you up with facts, not false hopium.

Alessio is personable, professional and an honest guy to follow to understand the markets ahead of others.

Best round up of the market: AltCoin Daily

Altcoin DailyWant to stay up-to-date on what’s happening in the crypto space but don’t have time to keep up?  

Fear not. AltCoin Daily got you covered.

This channel is just a gem among the channels that bring crypto market updates in a concise and palatable format.

You can sense the dedication in the way Austin brings the updates and his opinions in front of his audience. No wonder the channel has recently hit over 420K subscribers.

Best humble and honest take: Crazy 4 Cryptos

Crazy 4 crypto

What does Crypto mean to you?

Most people will say ‘Freedom’, yet, most of the YouTubers we see on the Tube will be broadcasting from their bedrooms or backyards (nothing wrong with that) but not Dave.

He has been in Thailand and streams his videos directly from the beach.

You will immediately connect with his simpleton style and honest reviews.  

He has been touting about Theta when it was trading in cents and now those who followed him are very happy.

Besides Theta, Dave talks about a lot of topics in terms of storing your coins, being careful with people and how to have a long-term plan in space.

Honorable mentions

Team Underground (TA)

We had too many channels to weed out for the TA category and that is why we had to pick two winners, however, Team Underground is a channel we cannot skip.

This underdog channel has been more right about the calls than any other mainstream channel. If you like your TAs and technical side of crypto – be sure to check this channel out.

BitBoy

People either love him or hate him.  There is no middle ground when it comes to BitBoy.  

Personally, we have to weed out a lot of noise while browsing through his channel since he picks a new project every few days (or weeks) and can become overwhelming. 

However, the fresh content is worth the watch.

EllioTraders

The guy behind this channel is truly vested in the space. So much so that he recently launched his own crypto project.

It’s definitely refreshing to see the YouTuber taking his expertise into a live project.  

The reason we did not list this channel on the BEST list is because of the constant feed of projects he pitches that is a bit overbearing for our taste.  

Nevertheless, a great channel and great recommendations.

Conclusion

There are 100s of YouTube channels out there but not everyone is worth your attention. We hope you found some channels of interest through this article.

Note: if we missed any gem of a channel, please let us know and we will be more than happy to add it after review.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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