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eCoinomic Review
One of the main criticisms that have been leveled against cryptocurrencies by the likes of Warren Buffett is that they have no intrinsic value or utility. They are essentially seen as symbols rather than assets. One of the symptoms of this lack of intrinsic value is the volatility of the cryptocurrency market.
Many coins and tokens rise and fall in value rapidly and frequently. In response to this criticism and volatility, several projects have launched asset-backed cryptocurrencies. This means that cryptocurrencies are backed by diamonds, gold, oil, or any other traditional asset that can be traded on the international market.
Still, cryptocurrencies are seen by many people outside of the crypto-community as inferior to fiat money. That makes the eCoinomic project so much more interesting, as this ICO flips the entire narrative on its head. With eCoinomic, fiat money loans are backed by cryptocurrencies as a security – not the other way around.
What is eCOINOMIC?
The team behind this ICO have taken a look at the market for secure loans and found a way to utilize blockchain technology to make it more accessible to holders of cryptocurrencies. Currently, holders of cryptocurrencies are often restricted in their ability to spend their money, as only a select few places accept tokens as legal tender. However, many financial institutions are now in the process of researching and developing their own blockchain-based platforms and services, which will ultimately make cryptocurrencies more mainstream. eCoinomic wants to capitalize on this development, by opening up the loans market to users of cryptocurrencies.
Digital assets offer a new low-risk instrument with high profitability that can be utilized by financial institutions. This new project is described as being ideal for family offices and other mortgage providers. The team behind the project have been working together since 2001 and is made up of Fintech experts who have decades of collective experience in software development.
How does it work?
The eCoinomic platform will allow holders of cryptocurrencies to find lenders of fiat money, and take a loan in fiat money by using their cryptocurrencies as a security for the loan. The loan agreement between the two parties will be using a smart contract to provide them with maximum control, transparency, and flexibility. The benefit for the loan-takers is that they can both use their cryptocurrency tokens to access fiat money, and still technically own their tokens. If the value of the tokens rises during the course of the loan period, the loan-takers will still profit. Similarly, the lenders will be able to rest assured that the fiat money they have lent out is backed by cryptocurrencies of a similar value.
The majority of the tokens (81%) sold during the ICO will be used by eCoinomic as a reserve, which will cover any disputes or accidents. On top of all these benefits, the blockchain-based platform will of course also enjoy the added benefit of operating on a decentralized network that protects the data and anonymity of its users.
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Online.io Review
Internet browsing is constantly changing, and the days of only being able to surf using Internet Explorer are over. With a multitude of browsers including Firefox, Chrome, Safari, users have a lot of choices. However, what all these browsers have in common is that they do not protect the anonymity of their users. For this reason, browsers like Opera and TOR have gained ground.
The latter two browsers still do not solve the issue of the web being clogged with incessant ads, pop-up windows, spam, malware, and spyware, all attempting to get the attention of Internet users. Whilst this ensures that advertisement companies have access to a lot of data, it lessens the experience for Internet users.
What Is Online OIO?
Online.io is a platform that wants to solve this problem and create both a better browsing experience for users and a more fair revenue stream for websites.
The platform uses blockchain technology to ensure that everything is decentralized, transparent, and scalable.
Most importantly, however, the platform will be free from malware, spyware, intrusive ads, and spammy messages. Websites will get their ad revenue paid out based on how many visitors they have, and how much the visitors engage with the website’s content.
How does it work?
Any content that is displayed by an Internet browser eats up processing power and data. Whilst some online advertisements are small and insignificant, others take up much more data than the content users are actually trying to access. This slows down the browsing experience. Online.io will bypass all of that, which will lead to a much smoother experience.
Users will also not have to worry about their data being captured and used for purposes outside of their control, as the blockchain encryption will ensure that their data is protected. A very useful feature of the Online.io platform is that users will vote websites up or down in line with their experience using it. This will lead to website ranking being more reflective of popular opinion.
This will, in turn, incentivize website operators to optimize their websites to improve the user experience. The fact that websites will be rewarded based on how much their website is visited and engaged with will also disincentivize spam websites.
Main features
The four main features Online.io prides itself on as a platform are privacy, trustworthiness, security and being ad-free. The privacy feature allows users to avoid their data being collected without their consent, which companies are currently doing to create consumer profiles.
The trustworthiness feature will come in the form of users ranking websites based on their experience, rather than the website’s SEO or other arbitrary feature.
The security feature will eliminate the presence of spam, phishing, malware, spyware, and any other malicious content, which will make browsing more secure for everyone involved.
Finally, even regular ads will be removed, which will allow for users to have a hassle-free browsing experience. These four features will ensure a safer online environment for everyone involved.
Other Information:
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– Online.io Telegram
As with mining for gold, the first one to get to the source gets the most. By now, mining for cryptocurrencies has been made a little more difficult by the fact that so many around the world are doing it. It is, however, still possible to create an income from mining cryptocurrencies if you know how it works and how to avoid some of the pitfalls.
Unlike mining for gold, mining for cryptocurrencies does not require you to invest in a pickaxe and a shovel. It does require you, however, to invest heavily in some processing power for your computer. Mining for cryptocurrencies is about solving complex mathematical problems, and that will eat up not only processing power, but also electrical power.
It takes time and research to find out how much power you need to mine how many units of a given cryptocurrency, and what kind of equipment you need to do it. Once that time and effort has been put in, however, the process is simple: leave your computer on to do the hard work, and watch the coins roll in. Here is a little guide to how you can get started.
Research the cryptocurrency space
In order to get started, you need to know what kind of cryptocurrencies are out there, and how much they are worth. A good place to start is to visit CoinMarketCap where all the known cryptocurrencies are listed. Since one of the features of cryptocurrencies is that they are limited in their supply, you will discover that mining for popular cryptocurrencies like Bitcoin is difficult.
As more coins or tokens are being mined, the mathematical problems needed to be solved become increasingly more complex. That means you will need quite a of processing power, energy and time to mine a whole Bitcoin. Finding a newer or less popular token will make mining for it easier.
Build a mining rig
Next, you will need to find out what equipment you need to mine for the cryptocurrency you have chosen. Around the web will be tutorials on how to build a mining rig, so reading some of these will give you an idea of what is involved and how much it will cost.
You will also need to know how much electricity you will need to use in order to mine for cryptocurrencies. Depending on where you are in the world, this can vary quite a lot. Once you know how much your power costs, you will need to calculate how much it will take to mine one token. Then you can see if you will be able to make a profit.
Set everything up
After you have researched the cryptocurrency market and the mining equipment, you will need to get everything ready. First, you will need the mining hardware, and then you will also need the mining software. Once this is set up, you will need a cryptocurrency wallet so you have a place to store the coins or tokens you have mined.
If this project has turned out to be too expensive for you alone, fear not. You can join a cryptocurrency mining pool, which means that you and some others pool your processing power to mine for coins together.
Let us know how you get on, and remember to share your mining experiences in the comments section below!
One of the many issues that have plagued the cryptocurrency market is how to define what a cryptocurrency is and what it should do. Ethereum is now currently being assessed legally to see if it can be considered a security.
Notable people like Warren Buffett has expressed skepticism over cryptocurrencies’ lack of intrinsic value. He considered it to be speculating, rather than investing. This notion has led some projects to consider backing the value of their cryptocurrencies with gold and oil.
Russia bets on diamonds
Siberia is full of treasures. It has large stretches of forest that can be used for wood, the many rivers and lakes are full of fish, and beneath the surface of it all lies huge natural gas reserves. Most importantly, it is also home to some of the last active diamond mines in the world. Trillions of dollars worth of treasures can be found in Siberia.
Now, all of these treasures can be tokenized and converted to cryptocurrency. A Russian investment firm called the Far East Development Fund is trialing an investment project where shares can be bought in these resources for as little as $10. These tokenized assets can then be traded on the cryptocurrency exchanges around the world.
A potential solution to volatility
This project could potentially solve one of the big problems facing many cryptocurrencies: they are incredibly volatile. The volatility is due to the fact that there is nothing backing them, and so the value fluctuates depending on market interest.
With tokens being backed by natural resources and precious stones, however, the scenario would very different. It would be like bringing back the Gold Standard, where the fiat money we are using today was backed by actual gold.
Russia is not alone in this endeavor
There are many more countries that have realized the potential of this kind of project. In Malaysia, a company called HelloGold is launching a cryptocurrency backed by gold. In Venezuela, the government has launched a cryptocurrency backed by its petroleum reserves.
The company that is issuing the token backed by Russian diamonds is itself based in Singapore. The company, Diamundi, has stated that it will have thew diamonds evaluated by a Big Four accountancy firm, and store the diamonds with Malca-Amit.
An early predictor of what is to come?
This could very well become the future of not only cryptocurrencies but currencies as we know it. People all over the world have lost much faith in the current financial institutions and system since the last crash in 2008. This faith has not been restored, and as many wages are going down and inflation keeps rising, something has got to give.
It could be this budding project. Not only would faith be restored in the financial system again, since the currencies would be backed by actual resources, but it would also give people more freedom. Freedom to choose which kind of currency they would want to deal in, depending on which resource they trust the most.
What do you think of this exciting project? Leave your comments below!