How Bitcoin Processing Units Are Used For Mining Digital Currency?

It is a well-known fact that bitcoin mining hardware has changed by leaps and bounds in recent times due to the evolution of new central processing units in the market. The new machines can conduct Bitcoin processing at a faster rate as compared to the computers of the past. Moreover, they consume less power and last for a very long period. Field programming gate array processors are connected with the CPUs to enhance their computing power. While selecting hardware for Bitcoin processing, make sure that it has a large hash rate that would deliver spectacular results to the users. According to the experts, the speed of the data processing is measured in mega hash rates per second or GIGA hash rates per second.

Another parameter for selecting the best bitcoin mining hardware is to analyze the power consumption of different machines available on the market. If the CPU requires lot of electricity, it can have a bad impact on the output and the business operations. Therefore, the hardware must be of high quality and cost-effective to attract the attention of the people. Expenditure on electricity bill should be in synchronization with the bitcoins earned through the application. One should take into account that CPU consumes own electricity for its operation and also requires more to power up the bitcoin mining hardware. Combined expenditure must be compared with the benefits accrued by the machine.

One of the most important components of the hardware is the graphical processing unit that can easily handle complex polygon calculations. As a result, it is quite useful in solving the issue of transaction blocks with bitcoin processing. According to the experts, GPUs have a distinct advantage over the hashing technology of CPU because of their higher processing power. Apart from handling bitcoins, GPUs can also manage the data transfer of crypto-currencies without any problem making it compatible with other applications.

ASIC option has been introduced in the market for bitcoin mining purposes because it has far more power than the graphics card. It is embedded into the motherboard of the computer along with other gates customized for achieving the processing objectives. The field programmable gate array located on the board is able to deliver a power of 750 megahashes per second. With powerful machines bitcoin can be mined at an astonishing rate. Although, the customized chips are expensive and take some time to be fabricated, the data speed provided by them is awesome.

 

Also read: What To Look For When Choosing A Bitcoin Trading Bot?

Trade Bitcoins and Get the Most Out of It

This digital rush of money that is sweeping the global investors is not only getting easier, but also riskier every day. While it was initially a simple peer-to-peer system for small transactions, it is now used for major investments and foreign luxury purchases, which has introduced newer strategies and uses. How does it really work? Yee Kok Siong explains this for you.

Bitcoin is a currency just like any other. It can not only be used to buy and sell, but can be used for investing and sharing, and can even be stolen. While the initial introduction of the technology came with a desktop program, it can now be directly operated through a smartphone application, which allows you to immediately buy, sell, trade or even cash your bitcoins for dollars.

Investment with bitcoins has become very popular, with major sums of money being put in every day. As a new investor, the rules remain the same as investing with real cash. Do not invest more than you can afford to lose, and do not invest without a goal. For every trade, keep certain milestones in mind. The ‘buy low and sell high’ strategy is not as easy implemented as said. A great way to succeed faster when you decide to trade bitcoins, however, is to learn the technicalities. Like cash investments, there are now several bitcoin charting tools to record the marketing trends and make predictions to help you make investment decisions. Even as a beginner, learning how to use charting tools and how to read charts can go a long way. A normal chart will usually include the opening price, the closing price, the highest price, the lowest price and the trading range, which are the essentials you need before making any sale or purchase. Other components will give you different information about the market. For example, the ‘order book’ contains lists of prices and quantities that bitcoin traders are willing to buy and sell.

Moreover, new investors will often quickly open unprofitable positions. With this, however, remember that you have to pay an interest rate for every 24 hours that the position is kept open, with the exception of the first 24 hours that are free. Therefore, unless you have sufficient balance to cover the high interest rate, do not keep any unprofitable position open for more than 24 hours.

While bitcoin trading still has its drawbacks, like transactions taking too long to complete and no reversing option, it can benefit you greatly with investing, provided that you take small steps in the right direction.

To learn more, visit here: https://yeekoksiong.wordpress.com/

Guidelines by Yee Kok Siong for Participation in The Bitcoin Economy

The Bitcoin economy is cumulative at a very fast rate, as more and more startups enter the sphere and effort to provide traditional services but by Bitcoins. You have everything from a market of books alias Amazon style but only in Bitcoins to promoting platforms like to Google AdSense but in the Bitcoin economy. As Bitcoin goes more mainstream, these are only going to rise in number and scope, therefore offering a brilliant opportunity to get on board with this at an initial stage.

The great benefit of entering the Bitcoin economy currently is that you’ll get in on this technology at the ‘innovator stage’ and you’ll have the chance to be one of the leaders. Businesses that work in the current Bitcoin economy also enjoy a free advertising of their business within the Bitcoin community.

The benefits of being part of the Bitcoin community should also be understandable – factually zero transaction costs for trans-continental money transfers, immediate transfer of money without any third-party postponements and capability to reach everyone on the earth who has access to the internet.

The micro Bitcoin economy is already prosperous. Now you can do the customary micro-tasks from organizations such as CrowdFlower on the Bitcoin platform and make your first Bitcoins that way. If you’re a professional, there are plenty of decent opportunities to promote your business to the Bitcoin spectators through services like Coin URL.

On a private finance front, it is greatest to save a protected wallet online at one of the reliable wallet services and then start earning some small quantities of Bitcoin just to catch a feel for how this economy functions and how you can influence this. If you have right to both fiat and Bitcoin in a liquid market, there are plenty of occasions where you can pay in one and accept in the other to get the most out of your business. The market is still not faultless and there are arbitrage chances through exchanges and goods and services.

Being part of the Bitcoin economy at this thrilling phase should show extremely advantageous to your business as well. You’ll be capable to reach spectators that would otherwise be very tough to woo – the people at the technological forefronts of our society.

 

Also read: Yee Kok Siong Tips to Make Your ICO Bounty Programs Stand Out

The Mobile Wallet is the Wallet for the New Generation

You will agree that for a business, it is important to stay on top of technology so that it can prosper and maintain its reputation.

A mobile wallet is your digital wallet very much like the physical wallet that you carry in your pocket. It will hold everything: your bank account, cash, loyalty cards, credit cards, pre-paid items, coupons and it allows you to perform online financial transactions over mobile devices.

In this article, Yee Kok Siong discusses how business giants and how they plan to utilize the concept of mobile wallet. Over the top, players like Facebook and Google treat mobile wallet as a channel to reach their customers.

They have designed services that avoid explicit permission from mobile operators. During the initial phase, they might even use operator-billing services to improve quality. The mobile wallet concept easily fits with their business concept. The pay per click concept will turn to pay per buy concept.

Big retailers like Target and Wal-Mart are introducing groups and their own payment systems so that they can avoid the interchange fee that all banks and credit card companies charge them. The payment system also introduces payment systems that allow customers to avail exclusive coupons and deals. With customers changing their usage patterns, credit card companies like MasterCard and Visa need to ensure that their traditional transaction business stays intact. They also want their revenues to evolve as customers continue to buy and use smart phones.

Operators can attract consumers by taking initiatives and becoming strategic partners to add value to the market. They can invest in their own wallet platforms allow providers to offer transactions services with ease. Mobile network operators can develop a new source of revenue and stop over the top companies from taking over their space completely.

Even with all the advantages and opportunities, people are still skeptical about mobile wallets. Their concern is regarding what would happen if a person lost their phone. The security features of the mobile wallet need to be strong and it should also work as efficiently as the card system works. It is therefore important that the software be well written and all credit card processing will have to follow one common system. The greatest concern is to establish a proper and long-lasting link to the customer’s credit cards through their phones and banks. Not to mention the different regulatory hurdles that need to be overcome.

 

Also read: The Cryptocurrency Wallet – Everything You Need To Know

Basic Principles for The Blockchain Enabled IoT Framework

To enjoy the fruit of the blockchain enabled IoT framework, business organizations need to bear four basic principles discussed by Yee Kok Siong a currency investor:

 

1) Cost Reduction

The edge devices need to decrease operation processing time and eliminate the IoT gateways or internet intermediaries within the system. Since data sharing, and information are communicated within the system, eliminating additional protocol, program, hardware, channel, node or communication cuts the overhead costs.

 

2) Accelerating Data Exchange

Blockchain enabled IoT can eliminate the IoT gateway or any filtering device required to establish network among cloud, administrator, sensors and devices. Expelling such ‘middle man’ can enable peer-to-peer contracts and data sharing. In this process, the digital ledger eliminates the additional time required for synchronizing device and processing and harvesting information. However, eliminating the IoT gateway provides conduits for malicious malware and security breach. The blockchain enabled IoT network can tackle it by installing features such as, malware detection, and encryption engines.

 

3) Trust Building

Through blockchain enabled IoT space, devices and appliances can virtually and physically transact and communicate as trusted parties. Unlike a conventional business where transactions require endorsement and verification, blockchain does not need any central authentication or peer recommendation. As long as the network is secured and the trusted parties are technologically adept, IoT space does not require further documents. For example, Team A may not know Team B, may not have met physically or trust verifiably, but the stamped record of online transactions and information sharing within blockchain’s ledger confirms the business trustworthiness. This enables the individuals, organizations, and devices to earn mutual trust which is vital to establishing revolving business setup and eliminating administrative clutter.

 

4) Stepping up Security for IoT

Blockchain provides room for decentralized network and technology that promises to store, handle and retrieve information from its billions of connected devices. This system has to provide heavily safeguarded network that is both encrypted and easy to use. The decentralized network has to provide high throughput, permission, low latency and querying. Installing blockchain in the IoT network can regulate and moderate the data exchange through the edge devices while maintaining the same secured transaction and information exchange of the connected devices.

 

Also read: Guide by Yee Kok Siong To Successfully Trade In The Major Cryptocurrencies

How Blockchain Will Transform the Life of a Common Man?

There are various industrial and administrative problems that the technology can solve for the common man. Do you own a small business but often feel transparency is lacking because of traditional methods of communication? Have you ever ended up with higher than usual medical bills? As a business owner, is finding legitimate candidates a hassle for you? These problems affect entrepreneurs, startups, small businesses, individuals and Blockchain technology seeks to provide solutions to make the life of a common man much simpler through simplified solutions.

 

Banking

Banking in almost all countries is still very focused on paper-intensive transactions for any money transfer, record-keeping or other back-end functions. Blockchain technology can replicate this in a digital format and create a decentralized ledger that allows not only the bankers but also the customers to access a single source of information. This system allows banks to eliminate chances of fraud as documentation and proof of ownership of assets can be checked digitally by bankers in the Blockchain ledger which can be accessed at any time in an unalterable format.

 

Identity theft is also a major problem in the banking sector, with citizens’ information being stolen and used to open fraudulent accounts for illegal activities. According to the Federal Trade Commission’s online database of complaints, there have been over 13 million complaints filed for card fraud and identity theft with 3 million of these complaints being filed in 2016 alone. Through a blockchain system, customers can directly view all accounts owned under their name and immediately notify their respective banks in case they spot any suspicious activity in their banking details. Some of the known examples include IBM-backed Hyperledger Fabric project and the Utility Settlement Coin by UBS.

 

Healthcare

Blockchain technology can simplify healthcare in incredible ways and make medical data management much simpler. Making patient records widely accessible can allow research on drug development much more convenient, and it also reduces the implications of counterfeit drugs. Clinical trials and their outcomes can be made available in a decentralized network, allowing healthcare specialists and researchers to conduct research and find solutions to better healthcare. Accenture is one of the biggest companies that have started offering innovative healthcare solutions for the medical care sector for secure and fraud-free transactions.

 

Medicare frauds can also be brought down through blockchain billing management as the billing system can be fully automated without any scope of intermediaries committing fraudulent activities. With over 56 million people under Medicare as of 2017, over $1.3 billion has been ripped off the government through fraudulent activities by rehabilitation facilities and home health care services. Blockchain systems can effectively safeguard citizens who seek medical assistance from healthcare providers that overcharge for services offered through fraudulent billing practices. The centralized data not only help medical professionals in offering treatment based on the history of the patient and his/her family but it also eliminates the chances of a patient incorrectly recollecting past symptoms or disorders.

 

Public Records

One of the most important civic administration functions of a government is to record all information about its citizens. This includes information about individuals and businesses with regards to their assets and activities. Most of the recorded information is recorded in paper databases, making data management extremely difficult even in developed countries.

 

Blockchain-based systems like Ubitiquity can encode all public records in a digital ledger to keep the data on citizens from being altered for fraudulent activities. Identity theft is a problem that can be very difficult to deal with for the administration and digitizing all public information to make it tamper-proof can help prevent such instances of criminal activity.

 

Voting

One of the biggest limitations of the voting system in almost every country is that even today, voters need to be physically present at polling booths to cast their votes and can make things difficult for people who need to travel on poll days. More importantly, there are no means of verifying the poll results for the average citizen.

Blockchain development companies like Followmyvote are coming up with solutions that seek to make online voting a reality. It will allow citizens to view accurate information on poll standings and results and various other statistics publicly. It also leads to safer voting for citizens of countries in internal or external conflict and criminal activities to coerce citizens into voting for specific candidates can be completely avoided.

 

Business Hiring

Businesses of all sizes have a hard time finding the right staff. Through blockchain technology, it is possible for businesses to verify credentials of all applicants through a digital database. Blockchain technology can be applied to create a decentralized database of professionals with verified qualifications in a secure ledger that businesses can refer to for hiring candidates. Learning Machine is a New-York based company that seeks to address this problem that focuses on recording verifiable information on workers.

 

Tax or employment-related frauds make up 34% of all identity theft as of 2016, and a blockchain system makes the hiring process for any business much more secure as a company would have access to valid candidates only, reducing the risk of hiring fraudulent employees. It also helps applicants by speeding up the hiring process and helping them to find jobs they are eligible for and have a hassle-free application process.

 

Yee Kok Siong says that use of blockchain technologies helps individuals and businesses alike, and it also protects personal information while making important data publicly visible. While blockchain has the best application in cryptocurrency, its use can spread to other sectors as well to provide meaningful solutions to citizens around the world.

Digital Currency: What It Is, and What It Is Not

This generation can be considered to be part of the digital age. Sooner or later, everything will be easier through the help of technology. Digital processes will soon replace traditional ways, including money making.

 

Another booming trend in the industry is digital currency. It is oftentimes associated with information which it is not really related with. Now, what really is digital currency? What are the advantages and disadvantages of this new trend?

 

Digital currency also known as digital money is an internet based medium of exchange that can be used to purchase goods, pay bills and services, and other monetary transactions. It allows the instantaneous transaction and borderless transfer-of-ownership with no fees to fewer fees. Like traditional or fiat currencies, it can also be used to facilitate payment for physical goods and in-person services.

 

This trend is also often mistaken as virtual currency. Both can be used for purchases and for paying bills and services, the only difference is that virtual currency can only be used with a specific environment. Digital currency has no boundaries as the user can transfer funds without location limits, but with zero to fewer transaction fees. Also, dealers cannot charge extra fees on the consumer without their knowledge.

 

As new as it may seem, this trend offers a lot of advantages to its users. Digital currencies are not controlled by a central bank and are better in terms of stability. It does not depend its value on supply and demand status of a certain place. Also, there is a limited supply of money to keep the original value of the currency.

 

It may also attract those who prefer private monetary transactions. Users have a hold on their personal account information and those who will receive the transaction do not have an access on the sender’s details. One type of this is cryptographic digital currency. It is a medium of exchange using encryption to secure the transactions as well as to monitor the creation of the new accounts. Through this process, the problems on identity theft during transactions are solved.

 

Another problem that it resolves is money counterfeiting. Online transactions do not require physical cash unlike traditional or over-the-counter bank transactions. It uses some special math applications and cryptography to make counterfeiting almost impossible.

 

There may be some disadvantages that this new trend might bring to the users because it is still developing, but if you prefer fast, convenient, and secure transactions online like Yee Kok Siong, digital currency might be the best for you.

 

Also read: BITCOIN EXCHANGE SCRIPT AND ADVANTAGES

How a Currency Dealer Help In Exchange Rates Comparison?

Currency trading is a very exciting business. In fact trillions of dollars are traded on various currency exchange markets in different parts of the globe daily. Most players do not have sufficient knowledge of the forex markets and look to make quick profits. They do not know how to compare exchange rates and forget that the currency markets are highly complex and require a lot of study and analysis beforehand to become successful. This is precisely why you need a currency dealer. A currency dealer will help you understand the forex markets better and help you compare exchange rates so that you get the best deal.

 

Who Is a Currency Dealer?

 

A Currency Dealer can be an individual or a firm that is involved in the currency exchange market. Currency dealers buy and sell currencies of different countries and operate on a wholesale basis and for low margins. This is precisely why they are able to offer their clients with very low exchange rates in comparison to other financial institutions and banks. Businesses and individuals need foreign exchange to buy products and services from other countries.

 

This means exchange rates comparison is vital for the transfer of funds from one country to another. Realizing this need, there are many individuals and firms that have donned the role of a currency dealer to help their clients. They help their clients compare exchange rates, get the best deal and save on money.

 

Role of a Currency Dealer

 

Well, currency dealers are experts who help their clients find the best possible exchange rate to transfer their funds. They provide you with the rates offered by different banks, commercial and financial institutions and others so that you can make an exchange rate comparison and make a decision accordingly.

 

Exchange Rates Comparison is not simple and involves the use of different techniques like forward trading, spot assessments, time option contracts and limit options. Since most people are not familiar with these techniques, it is best to work with a reliable currency dealer who can help you choose the best options and Compare Exchange Rates so that it is profitable to you.

 

Getting the Best Rates

 

If you are either an importer or an exporter, then you will require the best exchange rate to transfer your funds and ensure that you make profits. It is a well known fact that international currency rates fluctuate quite often. By helping you compare exchange rates, a currency dealer ensures that you do not make losses and safeguard your earnings. No wonder, currency dealers are an important part of the currency trade.

 

Also read: Exchange Rates Comparison is All About Money Honey

Why to Consider The Everyday Impact of Foreign Currency Exchange Rates?

Surprisingly very few people who deal in foreign exchange currencies take very much time to think about foreign exchange currencies. Or at least, the foreign exchange currency rates they’re paying. This is odd, because often it’s the rate of exchange that can make the difference when it comes to major investments such as property.

 

The trouble is that most people tend to view foreign currency exchange as something deep and mysterious, virtually unfathomable and entirely unpredictable. True, it’s impossible to foretell what may happen in the world tomorrow which could affect the foreign exchange rates we’ll be paying, and trying to predict the global financial climate a few days, weeks or even months in advance is generally considered laughably absurd.

 

Yet sometimes it is possible to be able to make long term forecasts which provide reassuring stability. It’s a little like watching the tides and waves between two islands, and eventually managing to predict the best time to sail across. Yet foreign currency exchange specialists do even more than this, because they need to work in the here and now with swift transfer arrangements, international transfers between foreign currencies the same day, as well as providing long term exchange rates guarantees.

 

This is critical, especially if you’re looking to invest abroad, buy property abroad, import or export goods abroad, pay employees who live abroad, relocate abroad yourself, or collect a pension or salary abroad.

 

In other words, it isn’t just multinational corporations which need to consider the impact of foreign currency exchange rates, because they can, and do, affect anyone. We are no longer living in a society which treats each country as unique, different and isolated financially from the rest of the world. Today many of us view the international property market as those a few decades ago saw the national market.

 

International trading, emigration, repatriation and overseas investment are all commonplace, yet still the concept of taking foreign exchange rates into consideration takes a back seat, costing people thousands of pounds completely unnecessarily. If you’re looking to purchase property abroad then the estate agents in your chosen country will usually be more than happy to help you open a foreign bank account, but they won’t offer any help or advice when it comes to managing it, your money or the exchange rates.

 

You’ll need to make an immediate transfer for the deposit, and this can easily cost you dearly if you visit your bank, since their exchange rates are usually less than competitive. But the balance of your investment will usually not be required until near the completion of the sale agreement, which in many cases can be weeks or even months away. How are you supposed to know what the exchange rates are likely to be?

 

Of course, the answer is that you can’t, yet you could very easily find that several weeks or months later when the time has come to make the payment, rates have rocketed and your carefully budgeted financial commitment is no longer sufficient.

 

The solution is to take advantage of a foreign currency exchange specialist able to provide long term exchange rate guarantees, helping to protect you from the turbulence of the markets, saving you considerably compared to high street bank foreign currency rates, and giving you peace of mind. Not to mention a little more spare cash.

Also read: Varying Currency Exchange Rates and Make Money with Foreign Exchange

How Blockchain Can Boost the Security of Mobile Application?

For you to be able to enjoy maximum benefits, of Blockchain, get a proper understanding of all the functionalities and how it is fit for mobile applications. The functionality of your app does not have to match with bitcoin, but you can be safe while transferring funds. Some Mobile Application Development companies depend on Blockchain technology to offer better app security. The benefits that mobile apps get include:

1) There is no need of using a password

Most mobile users make use of robust passwords to protect their devices and data. The problem is that no matter how complicated your password is, it might still be hacked and leaked. When it comes to Blockchain technology, you do not have to stress yourself on the front. The main reason is that during Blockchain Development, it is set in a way that no password is needed for authentication. What happens is that during a transaction, the two parties agree on how the payment will be done using an SSL certificate. The best thing about such a transaction is that the distributed network verifies everything and ensures that all things are visible. In such a situation, there cannot be any fraud.

 

2) Securing infrastructure

During the Mobile App Development, the owners of the mobile apps need to be grateful to Blockchain technology. The main reason is that Blockchain moves the core target of target infrastructure to a safer area; a decentralized platform. When Blockchain Development is done, it allows the app owners the chance to have control over the domain records. With such security, it becomes impossible for anyone to interfere with your entries.

 

3) Securing identity

It is impossible for anyone to hack data from a decentralized platform. Blockchain offers all its users a private key that is encrypted. Therefore, nobody can make any changes to the data or information using a decentralized platform.

 

4) No breaching of information on Blockchain

The best feature of Blockchain technology that gives it an edge is that it ensures that your information or data cannot be breached. Everything is made public, and as a result, Blockchain can maintain transparency and protection. Any data that is fed to the block can be viewed by anyone. Additionally, everyone can have direct access without having any need of hiding anything. Therefore, Mobile App Development team needs to know that they are working on a block that is transparent and does not have anything to hide.

 

5) No need to own a blockchain smartphone

You do not need to worry about purchasing a phone that supports blockchain technology. The current applications allow tablets and smartphones to operate blockchain technology. A good example is the mobile applications which allow cross-border blockchain payments. The advantage is that the costs of making global payments are drastically reduced. Consumers can now enjoy the privilege of transferring funds into their mobile wallets with maximum trust that all their transactions are in safe hands. Most people are afraid of online transactions because of the issue of hacking. Well, with blockchain technology, you should never have any security worries.

 

Conclusion

 

Without a doubt, the Blockchain technology offers solid security as can be seen in bitcoins. Yee Kok Siong says that every company that deals with Mobile Application Development needs to find the best way of incorporating Blockchain by all means. Since it is a new development, many people are sceptical about it and are afraid of trying it out. Do not be left behind, use Blockchain technology wisely and you will have fully secured apps.

 

Also read: 3D Blockchain Application Platforms Explained by Yee Kok Siong