kUSD / Kowala launched its Alpha Mainnet!

kUSD / Kowala launched its Alpha Mainnet!

Source:  BitcoinExchangeGuide

Kowala is a stablecoin protocol that was created to use technology to maintain the price of the token artificially. The idea is that the Kowala protocol will mint or burn the token supply in accord with the user demand to keep the prices always stable. Now, this company has finally released the Alpha version of its mainnet, which will be called Andromeda.

While Andromeda is the mainnet, Kowala will also release soon the beta version of Boötes. With the launch of Boötes, the company will finally start its kUSD stablecoin mining and will begin to trade kUSD on crypto exchanges.

Read the full article: [ BitcoinExchangeGuide ]
Join Kowala’s official Telegram Group: [ Kowala Community ]
Home Page: www.Kowala.tech

Stablecoins – What is it and why would I hold it? The Next-Gen Blockchain!

Stablecoins – What is it and why would I hold it? The Next-Gen Blockchain!

Stablecoins - What is it and why would I hold it? The Next-Gen Blockchain!

Photography Credit:  Fabian Blank

Introduction

Fiat currencies owe their mass appeal to the popular perception regarding there simplicity and understandability. The word ‘blockchain’ drives a common man away even before he gets a grasp of it. Stability and world’s acceptance of cryptocurrencies would increase once cryptos are able to adjudicate against their falsely-hyped futility. Well-researched and well-funded marketing can go a long way in establishing their dominance. Additionally, simpler user interface, can help to increase cryptos’ user base (e.g., the way Google scored over Yahoo, owing substantially to its perceived simple user interface against a cluttered Yahoo home screen).

All features apart, speed of transfer and low transactional costs are the two main pillars for deciding a cryptocurrency’s mass appeal. Stable cryptos, like Kowala, are making long strides on these fronts. As of March 26, 2018, Ethereum has an average transaction fees of  $0.347 (compared to PayPal’s 2.9%+ $0.30 USD for sellers) and Kowala has clocked around 4000 transactions per second (compared to around 1000-2000 transactions per second of credit card companies).

Stablecoins like Kowala’s kUSD are pegged to the US dollar and are hence resistive to volatile and speculative price fluctuations seen in traditional cryptocurrencies (like bitcoin). Due to it’s decentralized Blockchain technology, Kowala scores over Tether and a few other stablecoins in that it’s not subjected to government whims and centralised administration’s lags.

Unique Selling Propositions (USP) that set stable cryptos over volatile-cryptos

Stable cryptos  like Kowala involve leasing of mUSD mining rights, which can help stabilise the time-variant difficulty of blockchain mining and lessen the usage of energy-wasting mining hardware (by consuming not even 1% of energy consumed by bitcoin for nearly the same amount of coins mined). Energy efficiency is further increased by incorporating block rewards via Proof-of-Control, and not Proof-of-Stake or Proof-of-Work mechanism.  Additionally, Kowala maintains two APIs to counter exchange API malfunction and hijacking.

Way forward for ‘crypto-consolidation’ that helps it score over volatile-cryptos

Unanimity among crypto generators can go a long way into substantiating cryptocurrencies’ advantage over traditional fiat and electronic transactions. Mere speculation and hubris aren’t going to be of much help, as was echoed by Eiland Glover (the CEO of Kowala crypto)-“Even with more media coverage of crypto innovations and events, we may be past the days when an ebullient mood among a few crypto insiders translates immediately into a price bump in the larger market”. This points towards the increasing understanding and acceptance of cryptocurrency amongst the masses, and that they aren’t speculating merely going by a ‘Consensus Conference’. Lack of volatility should encourage first time investors to go for stable cryptocurrencies.

Interoperability (like ERC-20) is something that traditional payment mechanisms lack. Cryptos’ smart contracts can help people invest in crypto-stock markets and at the same time ensure that their parked funds don’t become illiquid. They can liquidate their invested funds (against a negligible premium fees) and use it for securing their child’s education, paying mortgages, buying a car, etc. Not allowing the child entry into school via biometric entrance, cutting electricity connections and cryptographically locking the car’s ignition system respectively would be the sanctions against defaulting on those liquidations.

The future of 4th industrial revolution

Increasing technological advancements, big data and advancements in cognitive abilities of AI systems would enhance the dominance of cryptos because IoT and blockchain implemented smart contracts can go a long way in increasing the economies of scale and customer satisfaction. For e.g., usage of on-deck screen can be used to cryptographically lock the seat most chosen by a passenger (on flight, train or bus).

Loan defaulters can be put on no-flyers list by blacklisting their crypto-IDs. Rewards for community services can be monetised by issuing crypto-coins against their respective crypto-IDs. A person defaulting on his water bills can pay back by community service or by mining new coins. Blockchain technology can be effectively used to establish the line of ownership of vehicles. The vehicles’ crypto-IDs would do away with the need of number plates. Car companies would be able to better monitor the fuel consumption patterns, stress cycles endured by shock absorbers, propensity of airbag failure, emission statistics, etc. in different geographical and climatic conditions, and alert the car user against any unforeseen situation. They can use the information for improving their products and credit the vehicle owner with requisite crypto-coins for allowing information sharing.

Universal crypto standards would help to standardise inter and intra trade activities by doing away with the need of paper works, administrative backlogs, exchange rate variations, volatile price fluctuations, cross border trading problem due to varying PPP standards of people, formalised banking procedures for obtaining credit and for transactions, and most importantly- by removing the time zone barriers, it would ensure round the clock trading to ensure that people don’t miss on booking their profits when they note some important events on a ‘weekend’ (something not seen in time-bound stock exchanges). All this need a simple wand and a simple spell- crypto-ID and cryptocurrency respectively!

Let’s take an example to see how volatile cryptos can spoil someone’s investment spree, even if they promise huge but small time gains

Mining of a volatile crypto named ABC reduces the block reward with time, increases the mining difficulty and causes its price to tumble. The miners having lesser incentive to mine ABC, shift to another volatile crypto named XYZ and use XYZ to buy ABC (at reduced margins but still at a profit). Now, XYZ’s mining difficulty increases with time and ultimately it also falls in value. This domino effect is what has caused combined decrease/increase in the values of cryptocurrencies.

Kowala ensures against this crypto-volatility by incorporating a block reward cap. Kowala incorporates a ‘stability fees’ mechanism whereby a stability fees (in addition to mining fees) is charged to bring kUSD’s price back to $1, if capping of block reward is not enough to reduce kUSD’s supply in market (reducing the supply is required to increase kUSD’s price back to normal, i.e., $1). Also, the fact that kUSD would ultimately return to its original value help arbitrageurs to indulge in profit booking. This not only helps to fasten kUSD’s return to normal pegging but conversely increases the crypto supply in market (when arbitrageurs start booking their profits). This increase in crypto supply prevents indefinite increase of its value beyond $1.

Cryptocurrencies as form of investment

The fiat currencies aren’t backed by any commodities except for the trust that domestic and foreign nationals have on a particular currency; hence, fiat currency has had been subjected to volatility due to political turmoils, and with the world heading towards stringent protective policies after 2008’s meltdown, stable cryptos are the way forward. They are not subjected to forex variabilities, interest rate vulnerabilities and cross-border transaction levies seen in fiat money.

Even though stable cryptos don’t promise gargantuan returns, they aren’t subject to volatility, unlike Bitcoin which plummeted from around $19000 to around $7000 in less than 2 months. So, while volatile coins  mirror small cap stocks in crypto-market, stable cryptos are equivalent to government bonds and T-bills. Investing in stable cryptos would ensure hedging one’s losses due to investment in volatile coins.

Hence, while a person should invest 3-5% of his/her assets in cryptos, they should park around 50% of those funds in stable cryptocurrencies like Kowala (whose value is pegged against standard stable currencies like USD, Euro, Yen, etc.). For someone who wants to avoid indulging in daily follows ups on cryptos, should go for a long term investment plan because long term plans can help to considerably offset the short term price volatility. Ideally, one should invest 50% of the capital in low-risk stable cryptos like Kowala, 30% in medium risk and super high cap cryptos like Ethereum, 15% in high risk ALT-setups (like XEM) and should reserve the remaining 5% for gambling in small cap but highly profitable ALT-cryptos (like ZEC).

For variability, people can opt 5-10% for investing in ICOs (like H20) and cloud mining contracts. For people who are still unhinged over investing in cryptocurrencies should wait until cryptos gain considerably more ground. Kowala is working on this front by initiating formalisation on various fronts like- publishing two exchange APIs to protect against hijacking of APIs, publishing kUSD market activity like price history, trading volume, block rewards, etc.

For ensuring cryptos’ safety, people can buy hardware wallets to store cryptos offline, away from the danger of being hijacked. People can also opt for cold storage (paper wallets) where private keys are printed on a piece of paper. However, it’s inconvenient to create and print a new wallet each time one sends funds to cold storage.

Kowala has introduced a ‘dead-end address’ mechanism. It is a wallet address that is precluded from having any outgoing transactions and it’s balance can’t decrease, but only increase.

To learn more about the unique technology behind Kowala’s next generation Blockchain, please visit:
http://www.Kowala.tech

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Contributing Copywriter: Binayak Hatwal

 

 


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Recommended Sources:
– Blockchain and Cryptocurrency news: http://CryptoCity.tech
– Kowala’s Stablecoin Community:   Kowala Community

Disclaimer: The written article is for a general knowledge  and entertainment only.  This is not a financial advice or any other  professional advice of any kind. Anything you may choose to do or not to  do based on the written above  is at your very own responsibility .


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Is your online privacy and security important to you?

Is your online privacy and security important to you?

If your privacy and cyber security is important to you - read this guide!

Photo Credit:  Ilya Pavlov 

With the development of Internet and technology, many people prefer to engage in their day to day activities online. In today’s world, almost everything relies on computers and Internet. Most of the people are dependent on the Internet and you need to take necessary measures to enhance your online security.

What this article can potentially answer about:

  •  How to improve cybersecurity?
  •  How to improve my privacy?
  •  How to improve my online data security?

The cyber-crime rate is increasing at a rapid pace and people’s negligence plays an important role behind it. Different strategies have been introduced by experts in order to reduce this crime rate. The cyber security holds a prominent place out of them because it has helped millions of people to be safe in the Internet throughout the past few years.

Cyber Security works by protecting your personal information in many ways. These protection methods include detecting, responding and preventing attacks. The main intention of cyber security is to reduce the number of internet related crimes and make Internet a safe place for people.

If a hacker enter your online accounts and take your personal information, you will have to face a wide range of issues later in your life. They can even ruin your business. The hackers can also send harmful viruses to your system, steal your credit card information, make unauthorized purchases, alter your files and change the passwords.

If you are concerned about cyber security, you need to have a basic understanding on how it works. The Firewalls hold a prominent place in cyber security and it helps you to ensure the security of all your personal information. The firewall has the potential to keep your computer away from key loggers, prevent all the unauthorized communications and report all the attacks to the user. Once you get such a notification, you need to take necessary measurements to enhance the security of your system, as it is vulnerable to threats in the future.

Data which is transferred through a connection travels in the form of data packets. These packets contain useful information such as the place of origin and the recipient. The firewalls are provided with a packet filtering technology and they determine whether these data packets have harmful threats or not. If it does not possess any harm, the packet will be allowed to enter your system. You cannot rely on cyber security all the time because hackers in the present world are smart enough to sneak through them. Therefore, you should install reputed cyber security applications and use your common sense when dealing with the Internet. This will assist you to stay away from the hassle that is related to Internet crimes.

Below mentioned are few useful tips, which you can keep in mind in order to enhance maximum security and protection while you use the internet. Any person can follow these tips and stay away from danger effectively.

Optimum protection

From time immemorial we have endeavored to protect ourselves, whilst in medieval times we wore steel body armor when we went to battle, in modern times we use bullet proof vests.

Today’s corporate world is one big battleground and the competition out there is cutthroat no less hence protecting our interests are paramount, which has become more so important with the Internet which is one big cauldron of concoctions that if we do not keep our interests secured we would be stirred up and be the catalyst of everyone else inside.

Internet vulnerability

Once you are connected to the Internet your security is at stake and the need to protect your interests become that much more important hence putting in place an elaborate security umbrella becomes inevitable if you do not want prying eyes breaching your privacy.

Installing the appropriate security hardware and software to protect your interests has now become a nightmare for many corporate companies.

External surveillance

There is constant external surveillance from a variety of unscrupulous sources hence being aware of it and taking appropriate action to protect yourself is an important aspect, if you do not want your competitors to be party to your business plans before you could execute them.

Corporate espionage is on the rise with everyone connected to the Internet vulnerable making professional hackers a breed very much in demand by unscrupulous business competitors who want to know who is doing what.

Online threats

Information that you may provide online can be pilfered which includes even your password, hence constantly changing your password and having one that would be based on something more different than the old modus operandi of birthdays and anniversaries could help.

Purchasing goods and services online using credit cards can also make us vulnerable and others could fraudulently use your credit card details to purchase goods which you would not have.

The Social media that you use is one medium where Cyber security could be at it’s worst because these sites are vulnerable to prying eyes and once someone targets you there is nothing much you could do about it.

Online security

Your Social media sites, the email, banking operations and purchasing habits have to be secured if you are to protect your interests.

Whilst using your credit card doing so only with extreme caution is necessary, sites which begin with “https” gives you the clue that those sites are secured.

The last letter “s” shows you that your transaction is encrypted and the possibility of being looked from outside is screened or near impossible.

Online encryption

The use of code to transmit messages is a time honored practice and most sites today use software to continue the same practice especially where online purchasing, banking and the email are concerned, because very sensitive information is being exchanged today through these very popular mediums.

The software in encryption technology is developing at pace because of the urgent need in this sphere due to the vulnerability of many large organizations being insecure with the present security apparatus available.

Verdict 

As you can see, it is extremely important for all the internet users to understand how to enhance their security. Otherwise, you will have to deal with a large number of negative consequences in the long run. By following the tips we suggested, you can easily enhance your online security and stay away from becoming a victim of cyber-crime attacks.


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8 things where Cryptocurrency helps to do things better than Fiat Money

8 things where Cryptocurrency helps to do things better than Fiat Money

8 things where Cryptocurrency helps to do things better than Fiat Money

Photography Credit:  Sam Truong Dan

Introduction

Popularity of Cryptocurrency is increasing on a daily basis. The ability of these currencies to get work done has contributed a lot towards its popularity. In fact, people will be able to use Cryptocurrencies to resolve issues, which cannot be done with the usage of flat money.

Make Donations to Causes 

You would come across the need to support causes, which are not approved by the government. In such instances, you can think about Cryptocurrencies. WikiLeaks can be considered as a perfect example to prove the above mentioned fact. Back in 2011, people were restricted from donating money to WikiLeaks. As a result, they could not make any contributions through PayPal or Credit Cards. “Satoshi Nakamoto”, who is the creator of Blockchain, figured it out and he took necessary measures to assist people make their donations to WikiLeaks. Defense donations fund, which was raised in favor of Edward Snowden can also be considered as a perfect example to prove the above mentioned fact. Likewise, you would come across different donations that are not supported by government and you will be able to make legal contributions to them with the assistance of Cryptocurrency.

[ Read the full article on Steemit ]

 


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The Future Of UnBanked Population In The Finance Industry

The Future Of UnBanked Population In The Finance Industry

The Future Of UnBanked Population In The Finance Industry

Photography Credit:  rawpixel

At around 1.3 billion, the number of credit card holders aren’t even close to 20% of world population. An alternative is required to saturate the remaining 80% with Lines of Credit (LoC), global market connect and liquidity. However, the poor and aspiring folks find it particularly hard to get banking finance for their undertakings, owing to clandestine racial, political and administrative prejudices.

Stable cryptocurrencies can go a long way for cementing that gap. These cryptocurrencies can hedge a deprived entrepreneur’s engagements against value fluctuations, accounting & legal aspects, arranging collaterals for securing credit, etc. It would greatly help to bring the unbanked into mainstream economy as it’s the SMEs that majorly help in uplifting the deprived populace and drive the global economy in general.

[ Read the full article on Steemit ]


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