While hardware wallets are touted, the real linchpin is that seed phrase, often suggested to be jotted down on a paper card. Yet, few discuss the nuances of seed storage or the perils of relying on paper.

Security hinges on two critical criteria: data loss and data theft. Where and how you store your seed phrase matter. Who besides you could potentially access it? Is the storage medium resilient against the elements?

Here are various methods to safeguard your seed phrase effectively:

Solid Steel: Fortified Protection

Solid steel stands as a formidable storage choice, available in a range of options from commercially available options to DIY solutions. Fireproof, acidproof, shockproof—these steel storages offer unparalleled durability, albeit at a cost. DIY versions can be more affordable and maintain your privacy.

Also Read: Rabby Wallet: Gateway to a Secure and Seamless Web3 Experience

Stone Paper: Budget-Friendly Resilience

Stone paper emerges as a budget-friendly yet robust option. Resistant to grease, water, tears, and partially fireproof, it’s a niche but effective choice for storing your seed phrase securely.

Tamper-Proof Bags: Conceal and Secure

Tamper-evident bags obstruct prying eyes from accessing your seed phrase, providing a simple yet effective security measure. Utilizing these bags or similar tamper-resistant solutions ensures the confidentiality of your keys.

Safe Deposit Lockers/Home Safes: Concealed Protection

Placing your seed phrase in a secured vault or safe provides an obvious but effective solution. This method surpasses easily accessible yet inconspicuous hiding spots, ensuring a higher level of security.

Using a Passphrase: Additional Layer of Security

Adding a passphrase to your seed phrase via wallets like Trezor or Ledger enhances security. This additional ‘word extension’ serves as a supplementary security measure, allowing multiple or decoy wallets under one seed phrase.

Also Read: Trust Wallet: Cryptocurrency Storage and Transactions

Brain Wallet: Memorization Risk

Memorizing your seed phrase is an option, though inherently risky due to the vulnerability of memory to time, injury, or disease. It’s a high-risk, high-reward strategy that demands impeccable memory.

Each method comes with its own merits and drawbacks, and the right approach is highly individualized. Combining these methods or modifying them to suit your needs is key. Remember, complexity shouldn’t hinder your access either.

Bonus tip: The less you broadcast your crypto ownership, the lower your risk profile. Keep those memecoin success stories close to the vest.

In the realm of crypto security, meticulous planning is vital. Ensure your safeguarding strategy encompasses every aspect, leaving no room for oversight.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Safeguarding Your Crypto Seed Phrase: Beyond Paper and Hardware Wallets appeared first on Tech Spur Blog.

About a year ago, the FTT token faced a catastrophic drop, plummeting from over $25 on November 6, 2022, to a mere $2 on November 8. FTX, the cryptocurrency giant, appeared to be on the brink of collapse, leaving little room for optimism in the market.

Also Read: Decentralized Exchanges: Top Platforms for Leverage Trading

However, recent events suggest that reports of FTX’s demise may have been premature. The FTT token’s value has surged dramatically in the past 24 hours, demonstrating a remarkable recovery and challenging earlier perceptions of its demise.

Several factors have contributed to this sudden pump in FTT’s value. Firstly, the conclusion of Sam Bankman-Fried’s trial last week, with the former CEO of FTX found guilty on all charges, has cleared uncertainty surrounding the company’s leadership. Concurrently, rumors of a potential revival of FTX have gained traction, with multiple potential buyers expressing interest in the coveted client base of the company.

The decisive trigger for the recent surge in FTT, however, appears to be a statement from Gary Gensler, the director of the SEC. Gensler expressed that a revival of FTX is entirely conceivable if the company is managed within legal boundaries. His statement, “Do it within the bounds of the law. Regain investor confidence and make sure to disclose the right things – and also make sure not to mix all functions, not to trade against your customers. Or to use their crypto assets for your own account,” sends a strong signal that Gensler, a formidable figure in the cryptocurrency sector, will not pursue FTX merely on principle.

Also Read: Quantum Computing and Its Impact on Cryptocurrencies

Simultaneously, there are rumors circulating that Tom Farley, the former president of the New York Stock Exchange, is eyeing the FTX platform. Farley’s established presence in traditional finance adds a layer of confidence to the resurgence narrative.

In the intersection of a potential FTX revival and the endorsement from a heavyweight in Wall Street, the FTT token has experienced a significant surge. This development underscores the prevailing sentiment in the cryptocurrency sector, emphasizing that investor confidence remains the paramount factor shaping market dynamics.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post FTX’s FTT Surges by 94%: SEC Director’s Unexpected Approval appeared first on Tech Spur Blog.

Understanding the Role of AI and Trading Robots

AI-driven trading robots serve the purpose of allowing users to anticipate market changes and execute real-time transactions. These tools are especially valuable for cryptocurrency traders, as they enable round-the-clock market analysis and the ability to invest in various financial instruments, all while leveraging AI to maximize profitability.

Also Read: Cloud Crypto Mining: A Route to Earning Passive Income via CGMD Miner

The Security Benefits of AI Trading

One of the key advantages of using artificial intelligence to automate crypto transactions is the enhanced security it provides. Trading robots operate without the influence of human emotions, ensuring impartial and objective decision-making.

Furthermore, AI operates around the clock, minimizing risks associated with human fatigue and inattention. This automation not only improves security but also enhances transaction consistency.

Advantages of AI Crypto Trading Bots

AI-powered crypto trading bots offer a range of benefits, including:

1. Swift execution of crypto transactions.

2. The ability to anticipate changes in the crypto market.

3. Improved precision in trading.

4. Consistent performance.

These trading bots adhere to strict rules and can process vast amounts of data to optimize crypto trading strategies. These advantages make trading more efficient and generally more profitable.

Automating Crypto Trading Strategies

AI-driven trading robots enable users to automate their trading strategies, which is particularly advantageous in volatile markets like cryptocurrencies. They can analyze massive volumes of real-time data, enabling quicker and more precise trading decisions compared to human traders. In fast-moving financial markets, every second counts, and AI-driven trading robots are essential for capitalizing on opportunities.

Also Read: Wash Trading: How It Impacts the Crypto and NFT Markets

Anticipating Market Changes

Through the use of AI, trading robots can:

1. Anticipate changes in the crypto market.

2. Adjust their strategies accordingly.

3. Exploit profitable opportunities.

Operating 24/7, these robots allow traders to leverage the markets at any time, including outside of traditional working hours.

Optimizing Trading Predictions

AI also enhances the accuracy of crypto trading predictions. AI-powered trading bots utilize advanced algorithms and machine learning techniques to analyze market data, enabling more precise predictions compared to human traders, who can be influenced by emotions and biases.

Smart Trading with Bitget

Bitget is an innovative trading platform that stands out due to its advanced use of artificial intelligence. The platform offers traders a set of sophisticated tools for automated trading.

Bitget primarily focuses on copy trading, simplifying the trading process for users of all experience levels. To achieve this, Bitget employs AI-powered trading robots with the mission to:

1. Analyze financial markets.

2. Identify opportunities.

3. Execute crypto trading transactions efficiently and automatically.

How Bitget’s Crypto Platform Works

Bitget provides optimized trading solutions through AI-driven robots that utilize machine learning techniques and analyze massive data from various sources, including real-time market data. Bitget’s trading robots can identify patterns and correlations between market events and price movements, which crypto traders can then use to make informed trading decisions. This includes transactions involving cryptocurrencies and other assets.

Bitget also employs advanced technical analysis to define crypto trading strategies, using technical indicators to generate trading signals. AI further aids in automating these strategies, resulting in swift and consistent execution of crypto transactions.

Also Read: Trust Wallet: Cryptocurrency Storage and Transactions

What Sets Bitget Apart?

Bitget distinguishes itself from other trading platforms through its strong commitment to artificial intelligence. The platform offers a range of AI-powered trading robots designed to meet the unique needs of traders, including:

1. The Martingale strategy, a risk management approach beneficial for traders looking to recover losses quickly when market trends reverse.

2. Grid Trading, a strategy in which traders place buy and sell orders at predefined price intervals to take advantage of price fluctuations.

3. AI-optimized CTAs (Commodity Trading Advisors), which enhance the performance of CTAs by providing traders with more precise data and forecasts.

Bitget offers personalized solutions for traders, whether they prefer conservative, balanced, or aggressive strategies.

But that’s not all. Bitget has also established strategic partnerships with renowned companies like 3Commas, further enhancing its credibility and capacity to provide high-quality trading solutions.

Bitget’s Strategic Partnerships

Bitget has formed strategic partnerships with well-established players in the trading industry, such as 3Commas. These partnerships underscore Bitget’s commitment to collaborating with respected companies to optimize its AI-driven trading robots, creating a comprehensive crypto trading experience for Bitget users.

Bitget ranks among the top crypto trading platforms that utilize AI to optimize trading strategies. The platform offers intelligent trading robots that not only analyze crypto market data but also execute optimized transactions. This makes Bitget a practical and cost-effective solution for crypto trading, and it’s certainly worth trying out for traders looking to leverage AI in their trading endeavors.

Techspurblog

Techspurblog is a blog dedicated to providing industry-leading insights, tips, tricks and tools on topics such as web design, app development, SEO and more. We also provide reviews of the latest tech products and services that can help you get the most out of your business.

www.techspurblog.com/

The post How AI Optimizes Crypto Trading appeared first on Tech Spur Blog.

Perpetuals, a type of futures contract with no fixed expiry date, enable users to trade cryptocurrencies with leverage. In this article, we will delve into the world of perpetual DEXs and explore the top platforms for leveraged trading.

dYdX

Leading the pack in the world of perpetual DEXs is dYdX. This platform offers leverages of up to 10x on most assets, with select pairs like ETH/USD and BTC/USD supporting up to 20x leverage. Traders are subject to a fee of up to 0.50% on their trades. Unlike many DEXs that employ the Automated Market Maker (AMM) model, dYdX opts for the order book method, which is common in centralized exchanges.

The platform combines on-chain and off-chain methods to ensure accurate trade matching. Users are incentivized through the native $DYDX token, with liquidity providers receiving 5.2% of the total token supply and active traders allocated 14.5%. Furthermore, dYdX has ambitious plans to migrate to its own standalone chain in the Cosmos ecosystem, aiming for further decentralization and scalability.

Also Read: Rabby Wallet: Gateway to a Secure and Seamless Web3 Experience

GMX

GMX is a perpetual DEX built on Arbitrum and Avalanche, offering leverages of up to 50x on all available pairs. The platform charges a 0.1% fee on trades. GMX operates using multi-asset pools, allowing users to provide liquidity in exchange for GLP tokens, representing their stake in the pool.

Liquidity providers are rewarded with 70% of the protocol’s revenue generated from user transaction fees. However, GLP holders are in a counterparty relationship with traders, meaning that if traders win, GLP holders lose. GMX also has its own native token, offering voting power and a share of trading fees generated on the platform.

Gtrade

Gtrade, a product of Gains Network, operates on both the Polygon and Arbitrum networks. The DEX offers high leverage of up to 150x for cryptocurrencies, with a 0.08% fee on trades. Liquidity providers deposit DAI into the gDAI vault to receive gDAI tokens, allowing them to earn a portion of the trading fees. Gtrade also introduces GNS, a utility token designed to enhance the DAI vault’s stability and serve as the protocol’s governance token in the future.

Kwenta

Kwenta, powered by the Synthetix protocol, enables leverages of up to 25x on most pairs and up to 50x on select pairs like BTC/sUSD, ETH/sUSD, and USDT/sUSD. This Platform charges a 0.02% or 0.06% fee on trades and has its own native KWENTA token, offering rewards and voting power. The platform uses the sUSD token, which is collateralized by SNX tokens, ensuring liquidity and efficient trading.

Also Read: Trust Wallet: Cryptocurrency Storage and Transactions

Level Finance

Level Finance is built on the BNB Chain and Arbitrum and offers leverages of up to 50x on BTC, ETH, or ARB. It charges a 0.1% fee on trades. Similar to GMX, Level Finance separates its liquidity pools into tranches based on the level of risk to traders. LLP tokens, akin to GLP tokens, are given to liquidity providers, granting them 45% of the protocol fee revenue. Level Finance also employs a dual-token model, with LVL as the utility token and LGO as the governance token.

Perpetual Protocol

Perpetual Protocol, a DEX on Optimism, allows traders to leverage their positions up to 10x and charges a 0.1% fee on trades. It introduces a virtual Automated Market Maker (vAMM) for price discovery, with assets stored in a smart contract vault for collateral. The platform has established measures to manage risks and offers incentives through its native token PERP, allowing users to become eligible for weekly USDC rewards.

These are some of the most popular perpetual DEXs in the market, offering traders the opportunity to engage in leveraged cryptocurrency trading. However, it’s essential to keep in mind that while leverage can amplify profits, it can also increase losses. Therefore, risk management should always be a top priority for traders in this dynamic and ever-evolving crypto landscape.

Techspurblog

Techspurblog is a blog dedicated to providing industry-leading insights, tips, tricks and tools on topics such as web design, app development, SEO and more. We also provide reviews of the latest tech products and services that can help you get the most out of your business.

www.techspurblog.com/

The post Decentralized Exchanges: Top Platforms for Leverage Trading appeared first on Tech Spur Blog.

Rabby Wallet is a versatile cryptocurrency wallet available as both a Chrome extension and a Desktop wallet. Moreover, the team behind Rabby Wallet is currently developing a mobile wallet app to provide even more flexibility to its users. Rabby Wallet is not just limited to managing cryptocurrencies; it also supports NFTs, allowing you to view, share, and transfer your non-fungible tokens with ease.

Multi-Chain Integration

One of Rabby Wallet’s standout features is its seamless integration with multiple EVM chains. With connections to 95 EVM chains, Rabby ensures a smooth multi-chain experience. It does this by automatically switching networks based on the site you are visiting, sparing you the hassle of constantly changing networks when using dApps across various blockchains.

Ensuring the security of your assets in the world of cryptocurrencies and decentralized applications is crucial. Rabby Wallet is designed with web3 security as a top priority. Interacting with smart contracts can be risky, but Rabby Wallet offers several security features to keep your digital assets safe.

Also Read: Trust Wallet: Cryptocurrency Storage and Transactions

Getting Started

To embark on your Rabby Wallet journey, follow these steps:

1. Visit rabby.io and download the Rabby Wallet extension.
2. Open the extension in your browser and click “Get Started.”
3. Add a wallet address, create a new seed phrase, or import a pre-existing seed phrase, private key, or Metamask account.
4. Set a strong password to secure your wallet.

Managing Wallet Addresses

Rabby Wallet allows you to add up to 50 wallet addresses. Most users find that selecting 2-3 addresses meets their needs. You can always manage addresses in the wallet settings later on.

To import your Metamask account or a seed phrase from another wallet, follow the same straightforward process. Head to settings, click on ‘Security & Privacy,’ and select the relevant options. All accounts from your previous wallet will be imported automatically, but this step enables you to choose which are made visible.

Connecting Hardware Wallets and Mobile Apps

If you prefer to use a hardware wallet like Trezor or Ledger with Rabby, the respective applications will guide you through the connection process.

Connecting Rabby Wallet to your existing mobile wallet app is easy via WalletConnect. Simply scan the QR code provided by the browser extension, confirm the wallet connection on the mobile app, set a name for your wallet address, and you’re good to go.

Depositing Funds

Before you can fully utilize Rabbywallet, you’ll need to deposit some funds. Click ‘Receive’ on the browser extension, select the network your funds are on, and copy the wallet address or scan the QR code for a seamless transaction. Always double-check the wallet address and the selected network for accuracy.

Also Read: Top 7 Alternatives to Metamask: Secure and Feature-Rich Crypto Wallets

Rabby Wallet’s Security Features

Rabby is committed to enhancing your Web3 security. Here are some of the security features it offers:

• Easy management of smart contract approvals to minimize risks.
• Monitoring and notifications of potential smart contract risks.
• Whitelist support for restricting transfers to trusted addresses.
• Phishing website warnings to keep your funds safe.
• Transaction simulation and pre-sign checks to verify transaction details before signing.

Conclusion

Rabby Wallet stands as a reliable choice for those engaging with dApps or interacting with smart contracts across various blockchains. With its extensive security features, you can explore the world of cryptocurrencies and decentralized applications with confidence. Stay safe and make the most of your Web3 experience with Rabby Wallet.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Rabby Wallet: Gateway to a Secure and Seamless Web3 Experience appeared first on Tech Spur Blog.

Olimpio Alpha: Uncovering DeFi and Web3 Opportunities

Olimpio Alpha is more than just a news source; it is a valuable resource for individuals seeking the next big opportunity in the DeFi and Web3 space. This channel offers insights into the latest NFT mints and provides a comprehensive understanding of how to participate in opportunities on different blockchains. Olimpio Alpha is your one-stop shop for fresh crypto market news, DeFi and yield-farming alpha, and airdrop strategies.

Also Read: How to Easily Track Your Cryptocurrency Profits with CoinMarketCap

Coin Bureau Insider: Deep Dives into Crypto Projects

If you’re a frequent user of YouTube for your crypto needs, you might recognize Coin Bureau. Coin Bureau Insider is their Telegram channel, which provides a daily overview of the latest updates on key crypto news, macro events, and more. Subscribers receive a daily “Rally Report” to stay informed about the best-performing major altcoins over the last 24 hours.

Market News Feed: Staying Ahead in Crypto Trading

Cryptocurrency markets are known for their short-term volatility. Market News Feed offers rapid updates on market developments that can impact your trading decisions. This channel is perfect for traders who need timely information to make informed choices, but be prepared for frequent updates.

DefiCalendar: Your Guide to Airdrops

Airdrops may seem like free money, but they require effort and vigilance to qualify for. DefiCalendar is designed for dedicated airdrop hunters. It ensures you don’t miss out on upcoming airdrops by providing step-by-step guides, deadlines, and updates on airdrop criteria. While you still need to put in the effort to qualify, this channel’s information is a valuable resource for your airdrop endeavors.

Also Read: How to Buy Bitcoin on eToro: A Step-by-Step Guide for Beginners

Defiprime: The Hub for Web3 News

Defiprime serves as a DeFi news hub, aggregating Web3 news from major crypto sources into a single feed. If you’re looking for a minimalistic channel that keeps you updated on a wide range of Web3 projects, this is your go-to source. The channel provides frequent updates with headlines and source links for the latest Web3 news.

ICO Analytics: Navigating the World of New Projects

New cryptocurrency projects emerge daily, and finding promising ones can be challenging. ICO Analytics offers curated lists of the latest ICOs and launchpads, details on recent private fundraising events, new token listings on major exchanges, and sentiment analysis on early projects. If you’re interested in getting in on the ground floor of new projects, this channel is a valuable research tool.

Drops Analytics: In-Depth Market Analysis

If you’re seeking in-depth market analysis beyond simple price charts of BTC and ETH, Drops Analytics provides a constant stream of insights and analytics related to the crypto market. Stay updated on the best and worst performing coins, trending searches, upcoming token unlocks, price spikes, crypto investment fund activity, and key market metrics.

Whale Alert: Real-Time Notifications for Big Moves

Cryptocurrency markets can be unpredictable, and staying informed about massive on-chain transactions can be crucial. Whale Alert offers real-time alerts on transactions worth eight figures or more in USD value, as well as significant stablecoin movements. This channel is ideal for those who want to monitor potential market-moving events.

Also Read: Crypto Reading List: Essential Books to Cryptocurrency Knowledge

CoinGecko News: A Comprehensive Crypto Overview

CoinGecko News is a Telegram channel that provides a bird’s-eye view of recent developments in the crypto space. It offers data-driven insights, easy-to-digest analytics, infographics, and notifications whenever the research team publishes a new report on the state of crypto. Stay informed with the latest data and research findings.

Before delving into Telegram channels, it’s essential to exercise caution. While Telegram is a convenient platform for accessing information and communities, it has also become a breeding ground for scams and misleading crypto information. Be vigilant about the channels and groups you join, the links you click, and the individuals you interact with. Your security and privacy should always be a top priority in the crypto world.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Top Telegram Channels for Crypto Enthusiasts appeared first on Tech Spur Blog.

However, the project faced a significant setback when the U.S. Securities and Exchange Commission (SEC) accused Telegram of conducting an unregistered securities offering. A legal battle ensued, concluding with Pavel Durov announcing Telegram’s departure from the project after settling with the SEC for $18.5 million. Subsequently, the Open Network code became open source, paving the way for a small team of developers, led by Anatoliy Makosov and Kirill Emelyanenko, to take over TON’s development.

While TON is now independent from Telegram, Pavel Durov expressed his satisfaction with the project’s continuation in 2021, setting the stage for its evolution.

Also Read: Quantum Computing and Its Impact on Cryptocurrencies

Evolution into The Open Network

In 2021, The Open Network underwent a transformation. The original testnet2 became Mainnet, the TON team was rebranded as TON Foundation, and the project was renamed as The Open Network while retaining its TON acronym.

The Open Network employs a unique blend of technologies, including a proof-of-stake consensus mechanism, sharding, and a virtual machine, to ensure speed, flexibility, and cost-effectiveness. This enables the network to support millions of users and process millions of transactions per second. The highest recorded transaction throughput was 55,000 transactions per second in 2021.

Sharding, an innovative approach to scalability, divides the network into interconnected pieces that function independently, allowing multiple transactions to occur simultaneously. The network’s dynamic sharding further enhances its adaptability by adjusting the network’s structure based on demand.

The TON virtual machine introduces novel concepts, such as a fee model that charges smart contract developers rather than users. Each smart contract maintains a Open Network token balance to cover its resource costs. The asynchronous architecture enables independent processing of multiple transactions, enhancing efficiency.

What Sets TON Apart?

The Open Network’s distinctive feature is its ability to connect with Telegram’s vast user base, which surpassed 700 million monthly active users in 2022, with projections to reach over 1 billion by the end of 2023. This integration of blockchain technologies into an everyday user’s life was part of its original vision.

One pivotal step in this direction is the integration of the self-custodial TON-based crypto wallet within the Telegram platform. Users can now send, receive, buy, and swap Toncoin directly through Telegram, enhancing the accessibility of cryptocurrencies.

The TON ecosystem offers various game-changing components, including Open Network Storage for decentralized file storage, TON Proxy to protect user IPs, and TON DNS for user-friendly wallet addresses. TON Payments facilitates seamless transactions, while TON Bridge enables connectivity with different blockchain networks, ultimately making cryptocurrencies more accessible to the masses.

Introducing Ton coin

Toncoin, or $TON, serves as the native and utility token of TON. It fulfills roles in transaction fees, staking, and gas payments, and as a DAO, users holding $TON can vote on proposals. Currently, 3.4 billion $TON are in circulation, out of a maximum supply of 5 billion. $TON is also used for TON DNS and TON Storage, with plans for TON Proxy integration in the future. Additionally, decentralized applications on the network adopt $TON as their base currency.

The Open Network Foundation actively works on expanding the blockchain, with developer activity growing by 6.56% from Q1 to Q2 in 2023. The roadmap for 2023 outlines plans to introduce other cryptocurrencies within the TON ecosystem and build bridges with Ethereum, Binance Coin, and Bitcoin, promising to create numerous opportunities.

While The Open Network offers a seamless crypto experience, users must be aware of the trade-offs. The self-custodial TON Space wallet, although user-friendly, abstracts the concept of private key storage, potentially raising security concerns and vulnerability to scams.

Also Read: Crypto-Friendly Digital Banks Around the World

Conclusion

The Open Network represents Telegram’s ambitious leap into the blockchain world, aiming to bridge the gap between blockchain technologies and everyday users. With its rapid evolution and unique features, it has the potential to be a game-changer in the crypto landscape. As TON and Telegram aspire to mimic WeChat’s success, they have an exciting journey ahead.

Techspurblog

Techspurblog is a blog dedicated to providing industry-leading insights, tips, tricks and tools on topics such as web design, app development, SEO and more. We also provide reviews of the latest tech products and services that can help you get the most out of your business.

www.techspurblog.com/

The post The Open Network (TON): Telegram’s Ambitious Leap into Blockchain appeared first on Tech Spur Blog.

Understanding Quantum Computing

Before delving into the impact on cryptocurrencies, it’s essential to grasp the basics of quantum computing. Unlike classical computers that use classical bits (1 or 0) to process information, quantum computers employ qubits, allowing them to perform calculations at an exponentially higher speed.

For example, a computation that requires 500 qubits may be virtually impossible for classical computers, even with a colossal 2^500 classical bits. This immense computing potential has raised concerns about blockchain technology’s security, particularly that of Bitcoin.

Also Read: Tokenizing Real-World Assets on the Blockchain Technology

Quantum Threat to Bitcoin

The encryption protecting Bitcoin could be vulnerable to a quantum computer equipped with a substantial number of qubits. Using Shor’s algorithm, a quantum computer with 1.9 billion qubits could theoretically compromise Bitcoin’s encryption within just 10 minutes, a prospect that may seem unsettling.

However, the good news is that we are not on the verge of a quantum apocalypse just yet. The era of deploying such powerful quantum computers is still some years away. IBM recently unveiled a 433-qubit processor, and a 1,000-qubit quantum computer is anticipated by the end of 2023. Cryptography expert Jens Groth suggests that blockchains might be at risk in 10 to 20 years.

Role of Physical and Logical Qubits

Crucially, Groth emphasizes a key distinction between physical and logical qubits. Physical qubits are highly unstable and prone to errors. To mitigate these errors, logical qubits, each comprised of multiple physical qubits, are used to ensure reliable computations. Most announcements of new qubit milestones focus on physical qubits, not logical ones.

This means that while quantum computing holds vast potential, it won’t become a practical threat until more sophisticated error-suppression techniques are developed, giving blockchain defenders a strategic advantage.

Also Read: Seed Phrase: How to Safeguard Your Cryptocurrency

Defense Strategies

Blockchain developers and cryptocurrency users have various strategies to defend against the quantum threat. One approach involves increasing the size of cryptographic keys. This is akin to a race, as scaling up key sizes is a more feasible task than attackers managing to break the encryption. Algorithms like the Advanced-Encryption-Standard with 256-bit keys present a formidable defense against quantum attacks.

However, simply scaling up key sizes indefinitely may not suffice. Defenders must remain vigilant, as new, more effective algorithms could emerge. Lattice-based cryptography, which introduces mathematical noise, is one such hope. This added complexity could confuse even the most potent quantum computers, rendering them incapable of breaking the encryption.

Challenges and Future Considerations

Upgrading encryption for a blockchain, particularly a well-established one like Bitcoin, is not without its challenges. Convincing every node to switch to new encryption can be a daunting task, and upgrading existing private keys is equally complex. Users would need to sign with their old keys after implementing new encryption, a process that could leave inactive users exposed.

The most famous example of this is Satoshi’s wallet, which holds around 1 million Bitcoin. Until these inactive wallets upgrade their keys, the threat persists. As Bitcoin advocate Anthony Antonopoulos has noted, “We will know quantum computing exists when Satoshi’s coins move.”

Also Read: How to Buy Bitcoin on eToro: A Step-by-Step Guide for Beginners

Conclusion

In conclusion, while the emergence of sophisticated quantum computers presents a potential threat to cryptocurrencies like Bitcoin, it is important to keep this concern in perspective. The widespread deployment of powerful quantum computers is still on the horizon.

Moreover, blockchain developers and users have strategies at their disposal to adapt and defend against the quantum threat. The future may see quantum-safe encryption methods and continuous advancements in the blockchain’s security measures, ensuring the safety of cryptocurrencies in a quantum world.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Quantum Computing and Its Impact on Cryptocurrencies appeared first on Tech Spur Blog.

Monzo

Monzo, a British online bank based in London, emerged as one of the early disruptors in the digital-only banking sector, challenging traditional players. With over 7 million users as of January this year, Monzo openly embraces cryptocurrencies. While Monzo accounts are fully authorized by the UK government and insured for up to £85,000 per account, they do not offer native cryptocurrency services. Monzo allows fund transfers to regulated crypto exchanges in the UK, such as Coinbase, but not to platforms like Binance. It’s essential to note that Monzo is exclusively available to users based in the UK with valid UK addresses.

Also Read: Wash Trading: How It Impacts the Crypto and NFT Markets

Ally Bank

For users in the United States, Ally Bank is a notable online banking option. Based in Utah and founded in 2009, Ally Bank boasts 11 million customers and $154 billion in deposits. In addition to competitive interest rates on savings accounts, money market accounts, and certificates of deposit (CDs), Ally Bank is part of a fee-free ATM network with over 43,000 ATMs available for cash withdrawals. A

lly Bank is FDIC-insured, offering protection for deposits up to $250,000 per depositor for each qualifying account category. While Ally Bank doesn’t offer direct spot crypto trading on its platform, it provides various crypto-based investment products, including crypto trusts, bitcoin futures ETFs, and crypto stocks. Like most other banks, Ally Bank allows fund transfers to regulated crypto exchanges.

Wirex

Wirex, a mobile payments platform based in London and founded in 2014, has gained popularity among crypto enthusiasts. While Wirex isn’t technically a bank and lacks state-backed deposit insurance, it positions itself as a “Web3 money app.” Wirex offers a wide range of crypto-related products and services, including exchanges for over 50 fiat and crypto currencies, fiat and crypto payments, as well as various savings, lending, borrowing, and reward programs.

They even offer “Cryptobacks,” providing up to 8% cashback on every card purchase. Wirex has its native token, WXT, used for subscription payments and other rewards. Available in over 40 countries, Wirex recently signed a global partnership with Visa to expand its presence in the Asia-Pacific region and the UK.

Revolut

Revolut, founded in 2015 and based in London, has become a global fintech giant with over 18 million customers worldwide. It caters to residents of the European Economic Area, Australia, Singapore, Switzerland, Japan, the UK, and the US. Revolut offers a suite of crypto services, including buying, selling, and transferring crypto directly from the app, as well as crypto learning and earning programs. Similar to Wirex, Revolut’s crypto services are not regulated or deposit-insured.

Crypto custody is achieved through cold storage via third-party custodians, ensuring private keys are not connected to the internet. In the EU and EEA, Revolut operates as a bank regulated by the Bank of Lithuania, providing coverage of up to €100,000 per depositor in the event of its failure. In other countries where it is available, Revolut is not a bank and is regulated differently, so users must review the specific terms and conditions relevant to their location.

Also Read: How to Easily Track Your Cryptocurrency Profits with CoinMarketCap

Future of Crypto-Friendly Banks

While there are not many platforms that offer a one-stop-shop for both fiat and crypto services, online-first and online-only neobanks appear to be more agile in adopting cryptocurrencies than traditional incumbents. As the crypto space continues to evolve, these digital banks will likely play an increasingly vital role in connecting the traditional financial world with the digital future of finance. As we move forward, it’s crucial for users to carefully assess their banking options and consider factors like regulatory compliance, deposit insurance, and the range of crypto services offered.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

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Cryptocurrency has been a driving force of innovation in the financial world, and one of the most intriguing developments in this space is the integration of real-world assets onto the blockchain. But what exactly does this mean?

Real-world assets are physical or intangible assets that are represented through digital tokens on the blockchain. This novel concept is reshaping the future of finance and has the potential to democratize investments, enhance liquidity, and create new possibilities in the world of decentralized finance (DeFi).

Tokenizing Real-World Assets

Tokenization of real-world assets involves converting ownership rights into blockchain tokens. Distributed ledger technology is used to track these assets, including their performance and valuation. These attributes are derived from sources outside the blockchain, making them reliable and transparent.

Real-world asset tokens can be programmed to include features like lockup periods and specific requirements for investors, just like other cryptocurrency tokens. This adds a layer of security and flexibility to the investment process.

Also Read: Atomic Swaps: Unlocking the Future of Crypto Trading

Revolutionary Potential

The concept of tokenizing real-world assets is revolutionary for several reasons:

Fractional Ownership: Tokenization allows high-value assets like property to be divided into smaller, more affordable shares. This opens up opportunities for smaller investors to access traditionally expensive investments.

Liquidity: Investors can buy, sell, and trade these tokens instantly on the blockchain, providing liquidity to traditionally illiquid assets like real estate.

Global Access: Regardless of your location, as long as you have internet access, you can invest in real-world assets on the blockchain. This eliminates geographical barriers and promotes inclusivity.

Real-World Examples

Several projects have already embraced this concept:

1. Lofty: Lofty enables investment in rental properties across the United States. Investors receive daily rental payouts and property appreciation when cashing out, using USDC or ALGO to fund orders.

2. Homebase: Homebase allows investors to purchase fractional shares of properties with as little as $100, receiving monthly rental income. It operates in compliance with security regulations and transacts in USDC.

3. Centrifuge: This platform decentralizes financing in liquid capital markets, providing collateralized yield to DeFi users through the CFG token.

4. Maple Protocol: Maple Protocol digitizes real-world credit investments by combining industry-standard compliance and smart contracts, using the MPL token.

5. Pax Gold: Pax Gold offers investors a way to own investment-grade physical gold on the blockchain, with each PAXG token backed by one fine troy ounce of gold stored in London vaults.

6. Ondo: Ondo tokenizes US Treasury Bonds, called OUSG, which can be used as collateral on platforms like Flux Finance, unlocking additional liquidity for leverage or farming.

Challenges and Solutions

Despite the potential, there are challenges to bringing real-world assets onto the blockchain. Legal and regulatory compliance, valuation and auditing complexities, governance, and scalability concerns need to be addressed. Collaborative efforts from token issuers, service providers, regulatory bodies, and investors are essential to overcome these hurdles.

Also Read: How to Buy Bitcoin on eToro: A Step-by-Step Guide for Beginners

Conclusion

The integration of real-world assets into the crypto space is a transformative leap towards a more inclusive and accessible financial landscape. From investing in art to owning shares in a company or even a fraction of a skyscraper, the opportunities are expanding like never before.

As technology continues to evolve, we can expect a new era where more and more assets will become tokens. The future of real-world assets in the crypto space is a thrilling and promising space, brimming with possibilities.

The most interesting real-world asset to tokenize? Well, the possibilities are endless, and as innovation continues, the list is only bound to grow. So, keep your sights set on this transformative journey ahead because the world of real-world assets in crypto is indeed an exciting and evolving landscape.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Tokenizing Real-World Assets on the Blockchain Technology appeared first on Tech Spur Blog.

What precisely does cloud mining entail? It’s a groundbreaking method enabling people to engage in cryptocurrency mining, such as Bitcoin, without the requirement of costly mining hardware investments. The entire process occurs remotely, with individuals leveraging cloud mining service providers to bolster their income-generating endeavors. This approach offers several advantages, including lower equipment maintenance expenses and the absence of direct energy costs.

What is cloud mining?

Have you ever heard of cloud mining? It’s a relatively new way of mining cryptocurrencies without having to invest in costly mining equipment. So how does it work? Cloud mining involves renting computing power from companies that offer cloud mining services. This way, you can still mine cryptocurrencies such as Bitcoin remotely, without the stress of maintaining mining equipment.

Also Read: Cryptocurrency in 2023: Is It Legit Mining Sources?

How to get started with CGMD Miner?

Engaging in cloud mining through CGMD Miner provides a streamlined, safe, and lucrative means to explore the possibilities of cryptocurrencies. Here’s the step-by-step process to begin your journey towards earning passive income.

Choosing the right partner: Choosing the appropriate cloud mining company is pivotal to your success in this arena. CGMD Miner distinguishes itself as a superb investment option due to its dedication to democratizing Bitcoin mining, ensuring accessibility for individuals regardless of their expertise or financial standing.

Registering an account: Signing up with CGMD Miner is simple and only necessitates providing your email address. Following registration, you’ll have convenient access to the platform through easy login

Setting up your mining: Once you have registered, you can start setting up your mining by choosing the plan that suits you. CGMD Miner offers various plans, including the free plan that allows you to start mining without any initial investment.

Monitoring your earnings: CGMD Miner offers effortless tracking of your earnings. Once you’ve gathered a minimum of $12 worth of mined Bitcoins, you can effortlessly transfer them to your trading account. The profits you generate are exclusively yours and can be withdrawn to your personal wallet.

By adhering to these straightforward instructions, you’ll be on the path to earning passive income through cloud crypto mining with CGMD Miner. So, why delay? Commence your journey towards financial independence today!

Why to Choose CGMD Miner

In order to initiate cloud mining, it is crucial to choose the appropriate partner. CGMD Miner stands out as a well-known and robust cryptocurrency mining platform that provides a complimentary Bitcoin mining service.

This renders it a compelling investment option for individuals looking to generate passive income. Through CGMD Miner, you can amass a minimum of $12 worth of mined Bitcoins and transfer them to your trading account. The profits you accrue are exclusively yours and can be withdrawn to your personal wallet.

CGMD Miner offers various mining contract options, making it easy to invest in your first contract. Each package has its own investment value and a specific contract duration, allowing you to enjoy passive income with ease.

Additionally, CGMD Miner offers an attractive partnership program that allows you to earn bonuses of up to $3,000 by inviting friends and acquaintances.

Also Read: Atomic Swaps: Unlocking the Future of Crypto Trading

Security and support

Security and support are crucial aspects to consider when engaging in cloud crypto mining. CGMD Miner offers top-notch security features to ensure the safety of its users and their earnings. The platform utilizes McAfee and Cloudflare® to prevent hacking and other cyber attacks. Moreover, their customer support team is available 24/7 to assist users with any issues that may arise.

The team is responsive and provides prompt assistance to ensure that clients can continue mining without any disturbances. With CGMD Miner, you can rest assured that you are in safe hands and can enjoy generating passive income without fear of fraud or security breaches.

Conclusion

Engaging in cloud crypto mining with CGMD Miner presents a streamlined, secure, and lucrative avenue for harnessing the potential of cryptocurrencies. When it comes to reaching your objective of earning passive income, CGMD Miner makes it more accessible than ever. This innovative method provides access to passive income with a small initial investment.

Seize the opportunity to join this thrilling expedition towards financial independence with CGMD Miner! In this ever-changing landscape of digital possibilities, cloud crypto mining through CGMD Miner offers a route to achieve financial autonomy.

It offers a simplified, secure, and profitable way to tap into the potential of cryptocurrencies. To learn more about CGMD Miner’s various offerings, please visit the official CGMD project website or enter “CGMD” in the Google App Store or Apple Store to download the application.

Techspurblog

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Atomic Swaps: Peer-to-Peer Crypto Trades Across Blockchains

Atomic swaps are essentially peer-to-peer cryptocurrency trades that occur between different blockchains without the involvement of an intermediary, such as a centralized exchange or liquidity pool. This means that you can directly exchange your BTC for ETH with a stranger, eliminating the need for intermediaries.

The concept of atomic swaps isn’t new and predates the rise of decentralized finance (DeFi). It emerged during the earlier days of cryptocurrency when altcoins gained prominence, and there was a growing need to transfer value seamlessly between different chains. The very first atomic swap was executed between Decred (DCR) and Litecoin (LTC).

Unlike decentralized exchanges (DEXs) and bridges that rely on bridges and liquidity pools, atomic swaps operate differently. They leverage a smart contract technology called Hash Time Locked Contracts (HTLCs) to automate token exchanges.

Also Read: Seed Phrase: How to Safeguard Your Cryptocurrency

Understanding Hash Time Locked Contracts (HTLCs)

HTLCs can be thought of as virtual lock boxes that require two unique keys to open: the hashlock key and the timelock key.

• Hashlock Key: This key opens the virtual lock box, allowing the trading parties to access their exchanged assets once the swap is successfully completed.

• Timelock Key: As the name suggests, this key is time-based and serves as an additional security measure. If the swap conditions are not met within the specified time window, both parties regain access to their funds.

Atomic swaps are designed to be binary in nature: they either execute precisely as planned or not at all. This inherent simplicity enhances the security and reliability of the process.

A Step-by-Step Look at an Atomic Swap

Let’s dive into the mechanics of an atomic swap:

1. Initiating the Swap: Suppose you want to swap your BTC for ETH directly with another trader, Kate. You start by depositing your BTC into an HTLC address, which acts as the virtual lock box. This box can only be unlocked using a special key generated during this process.

2. Sharing the Hash: The cryptographic hash of the special key is generated and shared with Kate on the Ethereum network. Kate verifies the deposit of your BTC.

3. Kate’s Contribution: Once confirmed, Kate deposits her ETH into an address created using the same cryptographic hash you shared with her.

4. Unlocking the Swap: At this point, you can unlock Kate’s virtual box using your initial special key. Simultaneously, Kate gains access to your BTC to complete the atomic swap.

This step-by-step process ensures that the swap is executed seamlessly, without any room for errors, thanks to the smart contracts governing the HTLCs.

Also Read: Wash Trading: How It Impacts the Crypto and NFT Markets

The Promise and Challenges of Atomic Swaps

Atomic swaps hold tremendous promise for the world of cryptocurrency. They offer greater decentralization and security by enabling direct peer-to-peer trades and ensuring the error-free execution of these transactions through smart contracts.

However, it’s important to note that while atomic swaps have captured the imagination of the crypto community, widespread integration is still pending. Challenges such as user experience (UX) improvements, scalability issues, interoperability between different blockchains, and the technical complexity of development remain hurdles that need to be overcome.

Atomic swaps are a fascinating development in the cryptocurrency space that has the potential to reshape how we trade digital assets across blockchains. As the technology continues to evolve and address its existing challenges, we can expect to see more adoption and innovation in this space, ushering in a new era of decentralized and secure cross-chain transactions.

K R

We are the founders of Techspurblog and we have been in this industry for over Four years. We pride ourselves on being the global leader in developing Technology Blog, which can create original content.
We are a team of enthusiastic people who want to share our experience, knowledge and enterprise with the world. We love what we do and we hope you will too!

The post Atomic Swaps: Unlocking the Future of Crypto Trading appeared first on Tech Spur Blog.