Day 2: Passwords and AuthenticationWelcome back to our Crypto Security series! Today, let's focus on the first line of defense your passwords and authentication methods.1. Strong Passwords:- Create complex passwords with a mix of uppercase, lowercase, numbers, and symbols.- Avoid using easily guessable information like birthdays or common words.2. Two-Factor Authentication (2FA):- Enable 2FA wherever possible; it adds an extra layer of security.- Use authentication apps or hardware tokens for 2FA rather than SMS.3. Password Management:- Consider using a reputable password manager to generate and store strong, unique passwords.- Regularly update and rotate your passwords.Why It Matters:- Weak passwords are vulnerable to brute-force attacks.- 2FA prevents unauthorized access even if passwords are compromised.Key Takeaways:- Strengthen your passwords regularly.- Embrace 2FA as a powerful safeguard.Tomorrow, we'll dive into the critical topic of securing your private keys.Keep building those layers of security!

Day 1: Introduction to Crypto SecurityWelcome to our 30-day journey to enhance your understanding of security in the world of cryptocurrencies! Today, we'll start with the fundamentals.Why Security Matters in Crypto:Cryptocurrencies operate in a decentralized and digital environment, making security paramount. Understanding and implementing robust security measures ensures the protection of your assets and personal information.Common Security Threats:- Phishing attacks- Malware and ransomware- Unauthorized access to private keys- Social engineeringKey Takeaways:1. Security Mindset: Adopt a proactive mindset towards security; it's a continuous process.2. Knowledge is Power: Stay informed about evolving threats and security best practices.3. Trust No One: Be cautious and verify information, links, and requests.As we delve deeper, remember: a secure foundation is key to confidently navigate the crypto landscape. Tomorrow, we'll explore the importance of strong passwords and authentication methods. Stay tuned!

In the ever-evolving landscape of the financial world, a profound transformation is on the horizon—one that stems from the dynamic interplay between technology, societal perspectives, and regulatory frameworks. Over the next two decades, we anticipate a seismic shift fueled by the rise of decentralized financial systems, driven by the generational transition of today's youth into decision-making roles.A Youthful FoundationThe current user base of decentralized financial systems predominantly comprises the youth, who are becoming increasingly immersed in the decentralized ecosystem. As this tech-savvy generation matures, their influence will extend beyond user interfaces and app screens to the boardrooms and policy tables where financial decisions are made.Teaching the Next GenerationAn essential aspect of this shift lies in the passing down of values and preferences. The youth of today, deeply rooted in decentralized financial systems, will likely impart these principles to their offspring. This transmission of knowledge from one generation to the next is expected to create a lasting imprint on societal perspectives regarding financial systems.A Paradigm Shift in SocietyThe envisaged generational transition represents more than a mere passing of the torch; it signifies a paradigm shift in societal attitudes towards decentralized finance. The values and preferences ingrained in today's youth, rooted in principles of decentralization, could redefine the norms of financial engagement for years to come.Unstoppable Technological AdvancementTechnological progress is an unstoppable force, continually pushing the boundaries of what is possible. The next two decades will undoubtedly witness further advancements in decentralized technologies, making them more robust, efficient, and user-friendly. As these technologies mature, they may garner broader acceptance and integration into mainstream financial systems.Regulatory EvolutionWhile regulatory uncertainties may cloud the current landscape, the anticipated transition of today's youth into decision-making roles is poised to bring about a paradigm shift in regulations. As the architects of tomorrow's financial policies, the youth will likely craft frameworks that reflect their values and adapt to the changing dynamics of decentralized finance.Towards an Inclusive Decentralized FutureThe future of finance, shaped by this generational shift, is not a stark dichotomy between centralized and decentralized systems. Instead, it envisions a collaborative coexistence where both approaches find their places within a balanced financial ecosystem. This adaptability may prove crucial in navigating the complexities of a rapidly changing financial landscape, paving the way for an inclusive decentralized future that empowers individuals and fosters financial resilience for all.

#Cryptocurrency can offer several economic benefits to #charity and nonprofit organizations, potentially enhancing their ability to raise funds, increase transparency, and streamline operations.

Here are some of the key economic advantages of cryptocurrency in charity development:

1. Global Accessibility: Cryptocurrencies are borderless and can be accessed and used by anyone with an internet connection, allowing charities to reach donors and supporters worldwide. This expanded reach can lead to increased donations and support.

2. Reduced Transaction Costs: Traditional financial systems often involve significant transaction fees and currency conversion costs, especially for international donations. Cryptocurrency transactions can significantly reduce these costs, ensuring that a larger portion of funds goes directly to charitable causes.

3. Instant Settlements: Cryptocurrency transactions are processed quickly, often within minutes, compared to the longer settlement times in traditional banking systems. This speed can be crucial in emergency relief situations.

4. Transparency and Accountability: Blockchain technology, which underlies cryptocurrencies, offers a transparent and immutable ledger of transactions. This transparency can help donors track their contributions and ensure that funds are used for their intended purposes, increasing trust in charitable organizations.

5. Lower Administrative Overhead: Cryptocurrency donations can reduce administrative overhead related to traditional payment processing and financial intermediaries. This means that a higher percentage of donations can go directly to charitable programs.

6. Microtransactions and Smart Contracts: Cryptocurrencies enable microtransactions, allowing supporters to make small, frequent donations. Smart contracts can automate the distribution of funds based on predefined criteria, ensuring that funds are used efficiently and transparently.

7. Fundraising Innovation: Charities can use cryptocurrencies to create innovative fundraising campaigns, such as issuing NFTs (Non-Fungible Tokens) representing unique items or experiences to incentivize donations.

8. Donor Privacy: Cryptocurrency donations can offer a degree of donor privacy, allowing individuals to contribute without disclosing sensitive personal information.

9. Reduced Fraud and Chargebacks: Cryptocurrency transactions are irreversible, reducing the risk of fraud and chargebacks that can burden charities when using traditional payment methods.

10. Currency Stability: Stablecoins, which are cryptocurrencies pegged to the value of fiat currencies, can provide a level of price stability, reducing concerns about cryptocurrency price volatility.

However, it's essential to recognize that cryptocurrency adoption in the charitable sector is still evolving, and challenges exist, including regulatory compliance, security, and the need for education and awareness among donors and charities. Additionally, the volatility of some cryptocurrencies can be a concern for both donors and recipients.

Despite these challenges, many charitable organizations are exploring the use of cryptocurrencies and blockchain technology to improve fundraising and transparency, and the economic benefits mentioned above make it an area of interest for the future of charity development.

Had a mind-blowing conversation with AI today about the future of cryptocurrency, forecast was 10 years to come.

The future of cryptocurrency in the next 10 years is highly anticipated and subject to various factors.

Here are some insights based on current trends

1. Mainstream Adoption: Cryptocurrency is likely to become more mainstream, with increased acceptance from businesses, financial institutions, and governments. This could lead to more widespread use in daily transactions.

2. Regulation: Governments are expected to introduce more regulations to address concerns like fraud, money laundering, and tax evasion. These regulations could provide more clarity and stability to the crypto market.

3. Technological Advancements: Continued development in blockchain technology, such as scalability solutions, could improve the efficiency and speed of transactions, making cryptocurrencies more practical for everyday use.

4. Stablecoins: The use of stablecoins, which are pegged to fiat currencies, might increase due to their stability and suitability for everyday transactions.

5. DeFi and NFTs: Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) are likely to continue evolving and potentially reshape traditional financial systems and the digital art and entertainment industries.

6. Central Bank Digital Currencies (CBDCs): More central banks might explore or implement their own digital currencies, potentially offering competition to existing cryptocurrencies.

7. Environmental Concerns: Sustainability concerns related to energy consumption in blockchain networks could lead to increased focus on eco-friendly consensus mechanisms.

8. Market Maturation: Cryptocurrency markets may become more stable and less volatile as they mature, potentially attracting more institutional investors.

9. Global Economic Factors: Geopolitical events, economic crises, and inflation could influence the adoption and use of cryptocurrencies as alternative assets or hedges.

10. Innovation and Unknowns: The crypto space is known for its innovation and unpredictability. New technologies and use cases may emerge that are hard to predict today.

It's essential to approach cryptocurrency investments and developments with caution, considering the risks involved.

The future of cryptocurrency will depend on how it adapts to these challenges and opportunities over the next decade.

Always stay informed and make investment decisions based on your risk tolerance and financial goals.

Have you ever tried the cryptocurrency lending and borrowing? If yes or no, this article will get you started and introduce you to a new model, p2p lending and borrowing.

Just of recent, I tired lending on ZKSYNC blockchain, project name withheld, after 30+ days, I logged in to withdraw my deposited eth but the response was kinda shocking “can’t withdraw more than this amount of eth” that sus right?

Well, while roaming the crypto verse, I stumbled on a project with better solutions and approach to lending and borrowing.

Grab a bite as I introduce you to decentralized P2P lending and borrowing.

What is lending and borrowing in cryptocurrency?

Lending is a decentralized financial service that allows investors to lend out their crypto/digital assets holding to borrowers.

Lenders are like investors who profit from the interests earned from users who borrowed their funds or assets

Lenders go on to earn interest, this is similar or work is in the same pattern that #Tradfi (Traditional Finance) savings account works.

Having said that, how do lenders lend to borrowers?

From my interactions with lending and borrowing platforms, Investors would deposit their assets into a contract while they can borrow with the deposited assets as collateral also however, borrowers would also have to deposit their collateral into the contract to be able to borrow funds.

This process however great can be improved.

Could there be a better alternative? Yes, a Peer2Peer (P2P) lending solutions similar to FIAT=CRYPTO and vice-versa trading called P2P trading.

A peer to peer trading eliminates the risk of third-party involvement in financial services while carrying out financial activities.

 

A peer to Peer (P2P) Lending Solution

PWN protocol offered a seamless lending experience with the introduction of a peer to peer lending and borrowing service.

What is PWN Protocol? PWN Protocol proposed a p2p lending solutions using any coin/or token as collateral, borrowers can also use their NFTs as collateral.

PWN is a trustless, immutable peer to per lending protocol designed for long-term mortgage-like loans of digital assets, that operates without the need for oracles or protocol managed liquidation.

WHY PWN P2P Lending Solutions?

PWN is a marketplace where borrowers and lenders come together to agree to loan terms of arbitrary tokens backed by arbitrary tokens and NFTs.

There is no risk of asset liquidation since there is no managed protocol liquidation and/or oracles.

PWN is peer2peer hence eliminates the third-party influence such as depositing your assets in a contract before you can lend or borrow.

There’s no asset whitelist, any ERC20, ERC721, or ERC1155 standard assets can be used on the platform

Won’t I get scammed since any token can be used?

To avoid getting scammed by users who may want to borrow or use as collateral assets of no value, PWN implemented the following features.

1.    PWN shows lenders information about the assets as possible so they can decide whether to invest in such loans or not.

2.    Lenders are also advised to DYOR before accepting a borrower offer, too good to be true, may be too good to be true indeed. Always DYOR!

3.    PWN implemented a feature called SHITFILTER, shitfilter automatically conceals loans request with high LTV (Loan To Value) ratio (above 80% and assets lacking valuation on the platform.

So, it is safe to say, NO whitelist, no problem.

How does this P2P Lending Solution Works?

1.    Lenders/Borrowers will sign-up on PWN platform with wallet connect.

2.    Borrower will list their acceptable token as collateral. Acceptable token is any ERC20, 721, and 1155 standards assets across the supported chains. (This stage is off-chain)

3.    Lenders will create offers with terms, this stage is also off-chain

4.    Borrower accept offer and the collateral would be locked. (This stage is on-chain).

5.    Borrower repay the loan, lender get capital and interest back.

6.    What if a borrower defaulted the loan terms and agreement?

The Smart Contract will release the collateral to the lender, and the lender can use anyhow they deemed fit.

How to borrow using PWN Platform?

1.    Navigate to PWN platform (make sure you’re using the official link) and connect your wallet.

2.    Select the asset and amount to borrow and conform loan terms.

3.    Choose collateral and amount of collateral.

4.    Lastly review your borrowing details and submit

 

Worth to note that these activities will not lock your asset or collateral until a lender borrow you.

How to Lend using PWN platform?

1.    Navigate to PWN platform (make sure you’re using the official link) and connect your wallet.

2.    Navigate to lend on the dashboard and scan through the available offers.

3.    Seen the offer that match your interest? Make an offer to lend to the borrower.

4.    After making offer, you’ll wait for the borrower to accept your offer. I call this genius formation, I mean, that’s the essence of P2P.

5.    Once the borrower accepts your offer, your asset which you’re lending would be transferred to the borrower while the borrower collateral would be locked in the contract for the number of days according to the loan terms, might be 30 or more days.

6.    After the loan term expires, the borrower is expected to repay the loan before the loan term expires and in the case the borrower defaulted, the contract would release the collateral.

That’s all, it is simply a masterclass development and I’m looking forward to a massive growth of PWN in coming years.

Disclaimer:

This article is not a financial advice and non-promotional, this is just to educate the community about the peer to peer lending solution.

The use of PWN platform is at users risk, always #dyor