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Decentralized Finance is now one of the most active sectors of blockchain with over $8 billion invested in DeFi smart contracts. It’s a movement that’s transforming old financial products into transparent and trust-less systems. By removing intermediaries, DeFi promises to offer the world a globally inclusive financial system.

DeFi will change the world the same way open course software transformed software products for us. Using decentralized blockchain technology, DeFi replicates, and innovates current financial service models while making them more accessible and flexible.

The financial services comprise digital assets that may not necessarily represent assets in the real world. …


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Traditional finance is on the brink of evolution. Even before the pandemic hit, global banks were looking for ways to enhance efficiencies and reduce costs. In this endeavor, many central banks studied the role of blockchain technology and digital currency with a vision to improve their economies. As the cracks in traditional finance continue to widen, there’s an innate need for some serious changes. Decentralized Finance (DeFi), if implemented properly, has the potential to transform the traditional financial system and the way we all manage our wealth in the future.

The intent of starting this new financial system is simple — to help 1.7 billion people who lack access to basic financial services. And to introduce an open banking system through decentralization — making it open for everyone and easily accessible. …


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Decentralized Finance, also known as DeFi or open finance is a common buzzword in the financial industry and cryptocurrency world in recent times. It aims to recreate the traditional finance systems like borrowing, lending, and exchange using automation instead of middlemen. After being automated, the system can be used for more complex challenges and capabilities. Although together the foremost venue for DeFi is Ethereum, these ideas can and will be soon implemented in various smart contract platforms.

In a nutshell, DeFi today is a smart financial system for cryptocurrencies. Bitcoin was the first to put money on the internet and DeFi aspires to keep this money constantly moving, working, and leveraging its meaningful value. …


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Blockchain has the capability to disrupt every industry. This innovative technology aims to create a new payment system for the world ensuring complete transparency, faster transactions, decentralized, and using cryptocurrencies. However, the value of cryptocurrencies is highly volatile and fluctuates on a daily basis. Bitcoin and Ethereum are two dominant cryptocurrencies with lots of speculation, which further fuels the volatility. In the long run, this can hinder the adoption of cryptocurrencies, especially since businesses shy away from unnecessary currency risk. It is difficult to pay salaries for your team in Bitcoin if its purchasing power is constantly fluctuating. This makes it tough to transact with in many cases. …


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If you’re a start-up owner or a businessman who is an early adopter of the latest emerging trends, you may have considered accepting cryptocurrencies for your business. This could open a new revenue stream for a small business, help reach new customers, and embrace the latest technologies for better business. For many owners, the volatility of cryptocurrencies is one of the major challenges to acceptance. If you’re a risk-averse business owner, there are ways in which you can minimize the impact of the volatility and make sure you earn profits when you start accepting cryptocurrencies. …


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With over 26.4 million Americans filing for unemployment benefits within the last month, the jobless rate in America is at 13%, the worst since the Great Depression. In order to prevent an economic collapse of the country, the Feds have started printing money and the machines are on in full swing. In fact, over a trillion dollars have been printed within the month itself. Since people are out of work, businesses are closed and the economy is stagnant, printing money may help to keep things afloat during and after the coronavirus pandemic.

However, the downside of the money printer go brr is that printing USD is inflationary. Inflation is a measure of how the prices of goods and services have increased over time. The central banking systems usually develop their monetary policies around the various price inflation targets so that they can aim to maintain the rise of consumer prices at a stable level. There are three things that can happen after this Covid-19 crisis — deflationary depression, minimum change, or hyperinflation. …


Want to try the Best Cryptocurrency Hardware Wallet?

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Hello,

About two years ago, I had a realization that cryptocurrency is plagued by the issue of bad user experience. Cryptocurrency is best stored in a hardware wallet; I don’t think there is any argument there. But in my experience, existing hardware wallets are quite clumsy and difficult to use. There is a dichotomy where the best practice is to store a bulk of one’s crypto holdings in a hardware wallet and a small fraction in a software wallet for daily spending. Regardless of how small the fraction maybe, software wallets are simply not very safe.

Using two or more wallets to hold one’s crypto holdings is ideal and I do the same, but I feel quite anxious having any amount of cryptocurrency on my phone. I wanted a wallet that sacrificed neither the security of a hardware wallet nor the comfort and ease of a software wallet. …


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Around every four years, there’s an important bitcoin event known as ‘bitcoin halving’. During this event, the reward for mining new blocks is halved. As a result, miners receive 50% fewer bitcoins when they verify transactions. Bitcoin halving is scheduled once every 210,000 blocks which occurs after four years until the supply of 21 million bitcoins is generated by the network.

Want to know more about bitcoin halving and its impact on traders and the economics of bitcoin? Let’s look at the key aspects of this event and why it’s so important to bitcoin’s value.

All About Bitcoin Mining Rewards

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A number of crypto enthusiasts, developers, and technology geeks mine bitcoin because it has value and can be used to buy things. In simple terms, mining is the process in which the network is secured and transactions are processed. With an objective to encourage people to mine bitcoin, every block contains a reward. When a miner successfully solves the block, the reward is released. …


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It has been just over a decade since the introduction of bitcoin, and there are still debates about which cryptocurrency wallet to use. If you are researching this question you either already have some cryptocurrency and are looking into keeping them safe, or you want to do some prior research before jumping into the world of cryptocurrency. Before we delve into the various types, let’s briefly talk about how these wallets work. The next few paragraphs may be a bit technical but it will make understanding and comparing wallet types much easier later on.

A Bitcoin or cryptocurrency wallet (referred to as crypto wallet from here on out) contains a singular thing — your private key. Unlike traditional money, cryptocurrency is not a physical thing and unlike traditional money, cryptocurrency doesn’t need to be stored in a traditional fashion. Cryptocurrency is stored in the blockchain, a sort of ledger that is decentralized, locked up by what is known as a private key. At the very core of it, a crypto wallet’s function is to talk to the blockchain on your behalf using the private key stored inside it, in a manner dictated by what you are trying to accomplish. …


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Today, cryptocurrencies are in the news more than ever. Owing to the roller coaster like up and downs in price, and overnight millionaires, everyone is interested in learning how to buy Bitcoin — one of the most popular forms of cryptocurrency. Bitcoin is now widely accepted all around the world, is gaining popularity in the form of adoption as money, and has a growing number of applications. However, before you start exploring the world of cryptocurrencies and build yourself lots of wealth, you need to know where to buy and store your crypto assets.

Keep in mind that unlike traditional money which has a physical form, cryptocurrencies are entirely digital. Although there are some descriptive words like Bitcoin mining and wallets, the truth is, Bitcoin or any other cryptocurrency only exists as numbers in the ledger known as the blockchain. These coins get their value in the same way traditional money does — i.e. belief and trust and free market economics. Most coins also have programmed scarcity making most cryptocurrencies deflationary in nature as opposed to traditional money, which is inflationary by design. …

About

hodllabs

We want to make cryptocurrency user-friendly & we believe that the simple hardware wallet is a good starting point We believe that Simplicity Matters.

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