I have been working in the cryptocurrency industry since 2017. I am passionate writer, trader and investor. Crypto has the potential to eradicate poverty.
Last time I introduced Quick Intel ($QKNTL). You must have invested there and got good profit. This time, I will take you to another gem.
The B² Network has the following characteristics: 1) An EVM Compatible Bitcoin Layer 2 Network
2) Fast, Cheap & Secure
B² Network is over 50x cheaper and 300x faster than the Bitcoin network. B² Network employs Bitcoin-level security with Bitcoin POW (L1) & Zero-Knowledge Proof (L2).
3) Seamless Access
Use MetaMask, Unisat, OKX Wallet, Xverse, Leather, etc. to interact with B², just like you normally would. Users enjoy easy access with BTC or ETH addresses via account abstraction.
4) Easy to Construct and Migrate Dapps
With comprehensive tools, users and developers can easily switch to, build on and migrate dapps from EVM-compatible chains to B² network.
5) DA Layer for Bitcoin
Allowing any ZK-Rollup solution to use Bitcoin as a settlement layer through B² Hub. Submitting aggregated ZK-Rollup data and proofs from different ZK-Rollups to Bitcoin, reducing transaction congestion
Bridge assets to B² Network to: Assemble rigs and mine native tokens. Receive native yield and ecosystem rewards.
You have to be invited to the network by someone. You can use the following code to join the network: VhoJr https://buzz.bsquared.network?code=VhoJr
Searching for 100x potential, here is a token that can take you there.
Quick Intel (QKNTL) is a utility token launched on the Ethereum blockchain with a bridge to the Arbitrum and supports multiple chains. They are offering apps and tools to make crypto safe.
Tokenomics Token Name: Quick Intel Token Symbol: QKNTL Total Supply: 100M Taxes: 0% Contact address: 0xbcd4D5AC29E06e4973a1dDcd782cd035d04BC0b7
Certainly! QuickIntel is a Web3 intelligence application designed to enhance the security of cryptocurrencies. Its mission is to provide robust tools and insights for safeguarding digital assets in the decentralized world. Here are some key features:
Risk Assessment: QuickIntel analyzes blockchain transactions, smart contracts, and wallet addresses to identify potential risks.
Security Alerts: The app sends real-time alerts to users when it detects anomalies or signs of compromise.
Smart Contract Audits: QuickIntel performs automated audits of smart contracts. It checks for vulnerabilities, code flaws, and potential exploits.
Address Reputation: Users can look up wallet addresses to assess their reputation. QuickIntel aggregates data from various sources, including historical transactions, known hacks, and blacklisted addresses.
Educational Resources: QuickIntel provides educational content on crypto security best practices.
Remember, in the ever-evolving landscape of cryptocurrencies, staying informed and vigilant is crucial. QuickIntel aims to be your trusted companion in this journey toward safer crypto holdings! 🚀
Visit the website (https://quickintel.io/) to gain in-depth knowledge of this technology.
Market cap: 1.78M 24H volume: 100K
Visit (https://quickintel.io/buy) the website to get this gem in your wallet.
#CryptoTalks #cryptocurrency $ETH Blockchain Trilemma In the role of a project manager, it is your responsibility to maintain the project's quality by effectively managing the scope of work, the available funds, and the timeline. Enhancing any one of these aspects necessitates making adjustments to the other two constraints. In a similar vein, blockchain developers must make trade-offs between the security, scalability, and decentralization of their blockchain technology.
Security The primary consideration is security, a critical element in blockchain technology that safeguards the network against malicious intrusions. To heighten security, networks frequently curtail the number of participants who serve as block producers, thereby loosening the system's decentralization. Likewise, reinforcing security might necessitate an elevation in the number of nodes required to validate block production, resulting in extended block confirmation times and a subsequent reduction in scalability. Scalability Scalability pertains to the network's ability to accommodate a substantial user base and a growing volume of transactions without imposing additional fees on users or sacrificing transaction processing speed.
Decentralization The third component of the blockchain trilemma, decentralization, is a unique feature of decentralized systems, providing control of the system to all participants while eliminating the need for any centralized authority. Conclusions The Blockchain Trilemma serves as a conceptual framework designed to tackle the myriad challenges confronted by blockchain developers. It underscores the necessity that when enhancing one aspect, developers must necessarily ease the constraints on the other two. Notably, it's crucial to maintain stringent security standards to safeguard investors' funds, making it a non-negotiable priority. The achievement of decentralization, though, may entail a gradual process, and scalability can be progressively enhanced as the network expands. #Write2Earn!
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#CryptoTalks #cryptocurrency What is TPS? The number of transactions a blockchain network can process every second is known as Transactions Per Second (TPS).
How TPS is calculated? TPS is a function of three distinct measurements, block size, transaction size, and block time. TPS = ((block size / transaction size) / block time)
What is the importance of TPS? TPS is used to measure the network’s speed and scalability. The user experience of blockchain technology highly depends on TPS. A scalable blockchain must meet pick demand while maintaining standard security and decentralization.
How TPS can be improved? A blockchain network can increase TPS by increasing the block size while keeping the other two measurements constant, by decreasing the transaction size while keeping the other two measurements constant, or by decreasing the block time while keeping the other two measurements constant. In most of the networks, block size and transaction size are fixed and to improve TPS, they have the option to decrease the block time. Block time can be reduced by employing hardware having higher capacity, optimizing the complexity of the smart contracts, changing the protocol behind the consensus mechanism, and incorporating off-chain processing.
Current TPS of some of the famous payment networks Here are the TPS of some of the famous blockchain networks: Bitcoin - 7 TPS Ethereum - 15 TPS Solana - 65000 TPS Polygon - 7000 TPS Avalanche - 4500 TPS Tron - 2700 TPS Binance Smart Chain (BSC) - 1400 TPS Polkadot - 1000 TPS Cardano - 250 TPS Dogecoin - 33 TPS Algorand - 20 TPS
Here are the TPS of famous centralized networks: Visa - 1700 PayPal - 193
Conclusions A scalable, user-friendly blockchain must improve its TPS without compromising the security and decentralization of the network to reach mass.
#CryptoTalks #cryptocurrency Finality of a Blockchain Transaction Due to the decentralized nature of blockchain technology, transactions are not final just after being incorporated into a block. It has to be validated by block producers using an approved consensus algorithm which ensures integrity and security of distributed ledger data. The finality of a transaction refers to the state after which it can not be reversed anymore. Types of Consensus Algorithm Used To attain finality, types of consensus algorithms that came into existence encompass Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), Proof of Authority (PoA), Proof of Capacity (PoC), and more.
Types of Finality Different types of finality used in blockchain technology are: 1) Probabilistic finality 2) Instant finality 3) Economic finality 4) Unconditional finality 5) State finality
1) Probabilistic Finality Probalistic finality is used in PoW, PoS, and DPoS blockchains. The probability of a transaction being reversed diminishes exponentially as more and more nodes verify the transaction or more and more blocks are added to the blockchain on top of it.
2) Instant Finality In this type of finality, the transaction is considered to be confirmed immediately after incorporation into the ledger.
3) Economic Finality In this type of finality, at some point in time. reversing a transaction becomes economically not viable.
4) Unconditional Finality A transaction is considered to be unconditionally final once it has been confirmed and under no circumstances can it be reversed.
5) State Finality State finality refers to the whole state of the blockchain network, not just the state of transactions or blocks. A state of blockchain can not be reversed once it is completed.
Conclusions Finality abolishes the risk of double spending. It not only ensures the security, reliability, immutability, and integrity of blockchain technology but is also key to increasing the rate of transaction per second for scalability and mass adoption.
#MyFirstSquarePost #CryptoTalks What is Due Diligence? Due diligence is the decision Support System (DSS) an entity adopts before signing an agreement with any other entity to uncover any risk involved.
Importance of Due Diligence in the Cryptocurrency Industry Traditional assets are based on centralized networks whereas cryptocurrencies are deployed on decentralized networks. The core features of a decentralized network encompass irreversibility, immutability, security, permissionlessness, censorship resistance, and trustlessness which are inherited by crypto assets. Due to these unique features, not only good players but also bad players get chances to transact over the network.
Type of Crypto Scams Some of the common forms of cryptocurrency scams are: Ponzi scam Man-in-the-middle attack Giveaway scams Airdrop scams Network hacks Fake exchange Phishing scam and Fake investment scam Therefore, due diligence is a must-have tool in the crypto industry to protect your funds from the prey of scammers.
How to Perform Due Diligence in the Crypto Industry? Your research project may not take the desired shape without a proper literature survey. Similarly, your investment in a crypto project may not accrue target results without due diligence. You have to visit the official website of the project and carefully analyze each component of the white paper before committing your financial investment. If a project has no website and white paper or similar documents, investment in the project may disappoint you. Components of crypto projects that become part of your due diligence process are roadmap, governance mechanism, tokenomics, scalability, team composition, ownership, and investors.
Conclusions Suspicious crypto accounts are very difficult to detect due to the nature of being unreadable by humans. Due diligence is a must-have tool before transacting with any anonymous entity. If due diligence is not adopted before investing in a project due to urgency or some other reasons, some pitfalls may come out at the latter stage which good due diligence would have revealed.