A Knowledge Sharing Session at
Presenter: Chimezie Chuta, Lead Dev Blockchain Nigeria User Group
A Distributed Digital Record of Transactions, Secure, Immutable, Append-only, Decentralized, Time-stamped, Hashed and Transparent.
WHAT'S A HASH FUNCTION?
In the abstract, a hash function is a mathematical process that takes input data of any size, performs an operation on it, and returns output data of a fixed size.
An Address, A Public Key, A Private Key (a hash of the address data.)
When there is an advantage to having a public immutable record of something, blockchain is the answer. When there no benefit, it doesn’t make much sense to use a blockchain. When this is the case, stand‐alone cryptography is the solution to your problem.
Supply Chain Management
Fundraising (Security token offerings)
Intellectual Property (IP)
Blockchain Solves the double-spend problem!
I send you an asset and wholly relinquish its ownership!
It represents that I own an underlying tradable asset.
NOTE: A Token is a Smart Contract!
A token can act as a store of value.
A token can be bought, sold, or traded for profit
Tokenizing assets that are either very illiquid, like real estate, or that can be difficult to physically exchange, like gold, is an interesting concept for investors.
Very expensive assets such as Airplanes, Land or even Intellectual property can be tokenized and sold in fractions.
A trustless Peer-to-Peer "Cash System" to prevent double spend!
Satoshi in Bitcoin, set the rules for "miners".
They need to invest some work (Processing Power) of their computers to qualify for this task.
They have to find a "hash" – a product of a cryptographic function – that connects the new block with its predecessor.
As an incentive, the "Miner" has the right to add a so-called "coinbase transaction" that gives him a specific number of Bitcoins.
This is the only way to create valid Bitcoins or valid Crypto Using the PoW System.
A "coinbase transaction" is the first transaction in a block.
As of today 25-07-2020
ICOs/ IEO/ IMO etc
An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for money today.
ICOs have been compared to Initial Public Offerings (IPOs) of corporations. There are some notable similarities – both of them are used to sell a stake and raise money, and both have investors who see the potential and risk their capital in order to make a potential profit.
1. FILECOIN -$257 million
2. TEZOS -$232.319 million
3. EOS (STAGE 1) -$185 million
4. BANCOR - $153 million
5. STATUS -$90 million
6. TENX -$64 million
7. MOBILEGO - $53.069 million
8. SONM - $42 million
9. AETERNITY - $36.96 million
10. MONETHA -$36.6 million
Investing in Cryptos with a future
Buy and Hold Tokens/ Cryptos
Careers/ Start Crypto Assets Businesses
Invest in Bockchain Start ups
Speculate in profitable ICOs
Get My Books!
http://kinesis.Money West Africa Advisory,
CEO@ http://blockspace.africa | https://blockspace.shop
Coordinator: Blockchain Nigeria User Group