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How Does Ethereum Work?
Ethereum uses a blockchain that looks very similar to Bitcoin’s until you get into the details. Ethereum is a platform on which transactions can be made using Ether or other tokens which have been made using the protocol, and smart contracts and decentralized applications (Ðapps) can be executed using the distributed computing power of what’s called the Ethereum Virtual Machine. When viewed from different angles, Ethereum is an open-source coding environment, a market upon which to distribute new blockchain-based applications, and a distributed computing machine that processes functions of the blockchain applications across a broad network. Distributed computing itself is not that new, but distributed computing on a blockchain is. Continue reading...
What is a Decentralized Application?
The Ethereum platform allows developers to use it as a coding environment and distribution network for applications built on the blockchain. The ability to create distributed applications on a blockchain is a novel idea that has gained a lot of momentum since Ethereum’s release. Developers can write and distribute their applications over the blockchain network, at little to no cost, while removing the necessity of running a website or a large server database because the blockchain satisfies these needs. The code for the application becomes part of the blockchain ledger, and users who wish to use some functionality of the decentralized application, or Ðapp as they are called, will submit requests to the Ethereum blockchain, pay the transaction fees for the distributed network to process the requests, and the network will call on the code of the Ðapp stored in the blockchain and process it using the computing power of the distributed network sometimes called the Ethereum Virtual Machine. Continue reading...
Who Created Ethereum?
Who would have thought that a 19-year-old from Toronto could write a whitepaper nearly as influential as Satoshi Nakamoto’s (Bitcoin founder)? A few years after Bitcoin’s launch, a young programmer and student of blockchain technology named Vitalik Buterin wrote a whitepaper imagining the Ethereum platform. While Bitcoin’s blockchain was primarily designed to handle transaction information, Ethereum is designed to offer a blockchain protocol for anything that can be programmed, which includes wh... Continue reading...
What Websites and Apps Can Help Me With Personal Budgeting?
There is a thriving industry committed to helping people plan and maintain a personal budget through online tools and apps. Perhaps the most-used personal budgeting tool as of this writing is Mint, which allows a user to link their bank accounts into the budgeting software, and then sends the information right into a tax filing after the new year. A list such as this is almost definitely going to be outdated by the time you read it; your favorite search engine or app store may turn up more relevant results than this. Continue reading...
What are the Best Financial Programs to Use?
There are many apps and online programs that investors can use, often for free, to help keep an eye on their holdings and to track their investment portfolio. In addition to the software accessible through your custodian, you might want to look at the programs available through Morningstar, Microsoft Money, and others. Apps on your phone (CNBC, TheStreet, Barron’s, MarketWatch, etc.) can keep you updated on market news related to your stocks, mutual funds, and ETFs. You can also subscribe to market commentaries delivered via email. Continue reading...
What are Investment Ideas?
Many services today offer investment ideas to consumers, some through subscription services, some available on a public website. Almost none of it is meant to constitute investment advice, in the legally-defined sense, because investment advice is only to be given by a licensed professional with regard to the individual situation of each person. Investment ideas are published by websites and subscription services to educate and inform people about possible ways to make money investing. This might include tips on stocks, bonds, funds, options, real estate, collectibles, and so on. Continue reading...
What are the Best Internet Sources for Financial Information?
The internet is overflowing with the advice, analysis, and chest-pounding of millions of self-purported gurus and market commentary services. There are plenty of well-informed and trustworthy sources out there, too. There are literally millions of websites providing you with various kinds of financial information, advice, recommendations, opinions, rumors, get-rich-quick schemes, and “facts.” There is a short list of companies that are well-established with a reputation worthy of trust: Morningstar, Moody’s, Fidelity, Schwab, Goldman Sachs, etc. Continue reading...
Should I Listen to Commentators on Financial News Programs?
It’s easy to become drawn in by the financial media, but it’s important not to let them do your thinking for you. Commentators on the most reputable financial channels will always be sharp-looking, smooth-talking, and quoting a barrage of statistics that makes it seem like you didn’t know anything before you tuned in. Is this an indication of being camera-friendly? Without a doubt. Is it an indication of sound financial advice? Absolutely not. Continue reading...
What is Ether?
Ether is the currency that powers the Ethereum network, which is a platform of distributed blockchain computing on which transactions, smart contracts, and distributed applications operate. Ethereum is a blockchain code environment through which distributed applications, smart contracts, and financial transactions using the Ethereum protocol are tested, validated, and added to distributed ledgers by the mining computers acting as nodes in the network. Ether is the currency, or token, in the Ethereum world which is used to pay the miners and transaction fees which are specific to its blockchain. Continue reading...
How Do You Use Ethereum?
When most people ask this question they are actually asking how to use Ether, the main currency of the Ethereum platform. But the Ethereum platform can be used in many ways as well. Ethereum is a platform that can be used by developers to create decentralized applications (dapps), tokens/cryptocurrencies, and basically anything else that can be programmed. It was the front-runner of the race to develop what is sometimes called Crypto 2.0: blockchain technologies that go well beyond singular usage as digital currency and instead reach and revolutionize every aspect of digital technology in the world today. People can and do use Ether, the primary currency of the Ethereum system, to make transactions like a currency, or as an investment. Continue reading...
What Are the Best Investment Apps for Growing Your Wealth?
In the contemporary landscape of finance, the surge in investment apps has significantly altered the way people manage their money. With a pervasive shift toward mobile-based management, investment platforms have aimed at optimizing their mobile app experiences. This evolution has aligned these apps closely with their desktop counterparts, providing investors with comprehensive tools and synchronized functionalities to better manage their finances. In this era of mobile investment management, we examine the top investment apps across various categories to cater to diverse investor needs. Continue reading...
What is Ethereum?
Ethereum is an open-source, public, blockchain-based distributed computing platform. Ethereum provides a cryptocurrency known as ether. Ethereum is a decentralized platform that runs what are known as “smart contracts.” Smart contracts are applications that run on custom built blockchain, which functions on its own accord through rules programmed into the protocol, and which also makes decisions and keeps records based on consensus throughout a peer-to-peer network. A blockchain oversees its own activities without requiring any trust in a central authority or the other parties involved. Continue reading...
What Is Cardano (ADA)?
How Do Ethereum Smart Contracts Work?
Ethereum smart contracts are an essential part of the Ethereum blockchain that can be coded into financial transactions or decentralized applications. Smart contracts were first described in 1998 by Nick Szabo, but they did not really make their debut until being popularized by the Ethereum platform in 2015. Bitcoin even has protocols in its code to facilitate smart contracts, but Ethereum, because it is a platform for the development of decentralized applications, instead of just a medium for currency like Bitcoin, has gotten all the glory. Continue reading...
What is the Difference Between Public and Permissioned Blockchains?
Blockchain technology does not always have to be implemented in a public peer-to-peer system. Blockchains rely on a network of computers, representing nodes, that collaborate and distribute the information required for the blockchain to function. The nodes in some blockchains can be established by any computer willing to run the client software for the network. Bitcoin and most cryptocurrencies are intended to function this way: as a public, open-source, permission-less, and trust less network. The nodes are used indiscriminately by the rest of the network as long as the node is performing the functions required of nodes, and this is called a proof-of-work system. When Satoshi Nakamoto coded the first blockchain, his intention was to keep the network functioning with only one tier: “one CPU, one vote.” That vision has encountered obstacles in the form of ASIC mining and other unforeseen circumstances that have empowered some nodes and groups of users over others. Continue reading...
What Is Mobile Trading?
Mobile trading, a pivotal advancement in the financial sphere, refers to the utilization of wireless technology for buying and selling securities, granting investors the ability to conduct trades using their smartphones. This revolutionary approach has effectively liberated traders from the confines of traditional desktop-based trading, providing unprecedented accessibility and convenience. The essence of mobile trading lies in the accessibility it offers, enabling investors to manage their portfolios on-the-go. Continue reading...
What are the top brokers for international trading?
Best Brokers for International Trading in 2023 Explore global markets with the best brokers. Interactive Brokers excels for seasoned investors, offering a vast array of assets and advanced tools. Fidelity, ideal for beginners, provides a user-friendly platform and low costs. Learn more about their features and factors to consider when choosing an international broker in our comprehensive guide. Don't miss out on global investment opportunities! #InternationalTrading #Investing2023 Continue reading...
What are the effects of social media on individuals and society?
Explore the world of social media! With over 4.7 billion users, discover how platforms like Facebook, YouTube, and Instagram have revolutionized connections, business strategies, and governance. Dive into the impact on personal relationships, marketing trends, and more! Continue reading...
What is Financial Technology (Fintech), and how is it defined?
Explore the world of Financial Technology (Fintech) in this comprehensive guide. Discover how Fintech is revolutionizing financial services through innovative applications, transforming traditional processes, enhancing accessibility, and reshaping modern banking. From mobile payments to cryptocurrencies, learn how Fintech is making finance more efficient and user-friendly. Continue reading...
How Do Digital Wallets Work and Are They Safe to Use?
Step into the future of payments with digital wallets! As technology reshapes our world, digital wallets emerge as a secure and convenient way to manage finances. From storing credit cards to event tickets, these wallets encapsulate your financial world in one place. Whether you're curious about how they work, their global impact, or the renowned players in the market, this guide offers a deep dive into the transformative world of digital wallets. Embrace the future, understand the technology, and unlock the potential of streamlined financial transactions. Continue reading...