Cryptocurrency Information and Support
The Earth isn’t shrinking, but the gaps between countries are. The Euro was a start in making financial transactions among global citizens easier, but the cryptocurrency is taking giant steps. From Bitcoin, we’ve progressed to now thousands of cryptocurrencies available. If you’re still wondering what the fuss is all about and what it’s got to do with you, this article will help you join the conversation.
What Is Bitcoin?
Bitcoin is the world’s first form of decentralized money.
- It is a store of value that is censorship-resistant.
- It is immutable against manipulation by central entities, authorities and governments.
- It is consensus verified, and without anyone controlling it.
The decentralized structure and peer-to-peer protocol of Bitcoin allows the Bitcoin network to operate as its own economy, without intermediaries or third-party service providers.
Blockgeeks, Inc. notes five important transactional characteristics of cryptocurrency:
1.) Irreversible: After confirmation, a transaction can‘t be reversed. By nobody. And nobody means nobody. Not you, not your bank, not the president of the United States, not Satoshi, not your miner. Nobody. If you send money, you send it. Period. No one can help you, if you sent your funds to a scammer or if a hacker stole them from your computer. There is no safety net.
2.) Pseudonymous: Neither transactions nor accounts connect to real-world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses.
3.) Fast and global: Transaction are propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbour or to someone on the other side of the world.
4.) Secure: Cryptocurrency funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox.
5.) Permissionless: You don‘t have to ask anybody to use cryptocurrency. It‘s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you. There is no gatekeeper.
Using Cryptocurrency
First, with the fast pace of the blockchain technologies comes risk and reward. With everything good there is always the bad. To protect the consumers from this, regulations are taking place across the globe.
Cryptocurrency – How to Protect and Operate within Compliance and Legality Globally
The leader in this is a company called OMINEX. OMINEX is backed by the engineering and solutions of regulatory guidelines in the IPO and Crowd Funding Space. In 2017 they took their knowledge and understandings of regulations to the blockchain and ICO space. Their role in the new future is offering Compliant Token Solutions.
To handle this huge task, OMINEX put together the “Open Compliance Project” to support international regulations. This allows for an ongoing platform and support community to keep up with this infinite space of growth. Because new new tokens are coming out daily, there needs to be regulation and compliance done to protect the users and investors. The number of new ICO (coin offerings) is surpassing 20 new Token Solutions offered each day. They need to be regulated to protect the consumers. This is where OMINEX comes in.
Solutions offered include:
- Solutions for vetting out and verifying legitimacy of the new coins offered to the World.
- Allowing the Users (via the OMINEX WALLET)to participate in new vetted ICO’s easily.
- Easy access to view the top Coins and to be able to buy/sell/acquire easily within a single Wallet.
- Paving the way of the Future – this will be the #1 User Wallet and Solution for accessing and working with Cryptocurrencies.
The things that OMINEX is doing is becoming larger and larger in scale and they are rolling out new benefits and features to handle the demand that cryptocurrencies and blockchain deployment is and will create.
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