Financial Technical Project Mgt. Assignment 7

Financial Technical Project Mgt.
Assignment 7
Bitcoin was launched in January 2009. He presented a new idea, outlined in an official document
by the mysterious Satoshi Nakamoto - Bitcoin offers the promise of an online currency that is
protected without any central authority, unlike government-issued currencies. There are no
physical bitcoins, only balances tied to a cryptographically secure public ledger. While Bitcoin
was not the first attempt at creating an online currency of this type, it was the most successful in
its first attempts and has become known as the predecessor in some way to virtually all
cryptocurrencies that have been developed over the past decade.
Blockchain is a decentralized ledger of all peer-to-peer transactions. Using this technology,
participants can confirm transactions without the need for a central clearing authority. Possible
applications could include fund transfers, settlement of transactions, voting, and many other
issues.
From a business perspective, it is useful to think of blockchain technology as a type of software
to improve next generation business processes. Collaborative technology such as blockchain
promises the ability to improve business processes between companies, dramatically lowering
the "cost of trust". For this reason, it can offer significantly higher returns per investment dollar
spent than most traditional in-house investments.
Financial institutions are exploring how they can also use blockchain technology to revolutionize
everything from clearing and settlement to insurance. These articles will help you understand
these changes and what to do with them.

Ether (ETH), the cryptocurrency of the Ethereum network, is arguably the second most popular
digital token after Bitcoin (BTC). Indeed, since it is the second largest cryptocurrency by market
cap, comparisons between Ether and BTC are quite natural.
Ether and Bitcoin are similar in many ways: each is a digital currency traded through online
exchanges and stored in different types of cryptocurrency wallets. Both of these tokens are
decentralized, which means they are not issued or regulated by a central bank or other authority.
Both use a distributed ledger technology known as blockchain. However, there are also many
important differences between the two most popular cryptocurrencies by market cap. Below,
we'll take a closer look at the similarities and differences between Bitcoin and Ether.
Over the years, the concept of a virtual decentralized currency has gained acceptance from
regulators and government agencies. Despite the fact that cryptocurrency is not an officially
recognized means of payment or storing of value, it has managed to carve a niche for itself and
continues to coexist with the financial system, despite the fact that it is regularly researched and
discussed.
Blockchain technology is being used to create applications that go beyond simply incorporating
digital currency. Ethereum, launched in July 2015, is the largest and most well-established open
source decentralized software platform.
Ethereum allows you to create and run smart contracts and decentralized applications
(decentralized applications) without downtime, fraud, control or interference from third parties.
Ethereum comes with its own programming language that runs on blockchain, allowing
developers to build and run distributed applications.
Ethereum's potential applications are broad and based on its own cryptographic token, ether
(usually abbreviated as ETH). In 2014, Ethereum launched an Ethereum presale that received a
huge response. Ether is like the fuel for executing commands on the Ethereum platform and is
used by developers to build and run applications on the platform.
Ether is used mainly for two purposes: it is traded as a digital currency on exchanges just like
other cryptocurrencies, and it is used on the Ethereum network to run applications. According to
Ethereum, "people all over the world use ETH to make payments, as a store of value or as
collateral."
Ethereum is another blockchain use case that supports the Bitcoin network and should in theory
not compete with Bitcoin. However, the popularity of ether has pushed it to compete with all
cryptocurrencies, especially from the point of view of traders. For most of its history since its
launch in mid-2015, Ether has been close to Bitcoin in the rankings of the leading
cryptocurrencies by market capitalization. That being said, it's important to keep in mind that the
ecosystem of Ether is much smaller than that of Bitcoin: as of January 2020, the market
capitalization of Ether was just under $ 16 billion, while Bitcoin is almost 10 times that of $ 147
billion.
Many skeptics are starting to wonder if the "year of the blockchain" will ever come. Blockchain
announcements continue to appear, although they are less frequent and occur with less fanfare
than a few years ago. However, blockchain technology could lead to a radically different
competitive future for the financial services industry.

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Financial Technical Project Mgt.

cryptocurrencies that have been developed over the past decade.

Blockchain is a decentralized ledger of all peer-to-peer transactions. Using this technology,

From a business perspective, it is useful to think of blockchain technology as a type of software

to improve next generation business processes. Collaborative technology such as blockchain

spent than most traditional in-house investments.

these changes and what to do with them.

cap, comparisons between Ether and BTC are quite natural.

source decentralized software platform.

developers to build and run distributed applications.

used by developers to build and run applications on the platform.

competitive future for the financial services industry.

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