I have come to the very end of the Zealy Campaign. So far I have posted many things to complete the quests. By posting on each topic I was able to gain extensive knowledge about them. I got the opportunity to analyze many important issues in depth. Today I am back with the last post of Finance Bro Adventure. Today I will write about CryptoSpace. I have already written posts on some very important topics related to cryptocurrency. Every post is related to crypto especially Bitcoin, Ethereum, Blockchain, Hive, Leo Finance. Today I will write about how we landed in the cryptospace and how it is changing the quality of our lives.
- What is Cryptospace?
Cryptospace mainly uses for a term which describes Cryptocurrency and Blockchain enthusiasts or stakeholders such as crypto influencers, early adopters, developers, entrepreneurs, speakers, traders, and blockchain supporters. They are usually active members in different crypto communities such as Bitcointalk, Telegram, Hive Blog, Leo Threads and others. So let's start discussing.
In any of our financial matters like income, transactions or anything we have to share or pay taxes to the government. From government interference in any financial matters of the people of the country. But an online platform where the currency is digital and all transactions are done digitally even the government has no share in those transactions or income. One such digital currency is cryptocurrency. Day by day people are getting more and more interested in this cryptocurrency. The lion's share of people are involved in cryptocurrency. It originated with the help of many clever algorithms and encryption. It has become a very popular means of making money in a decentralized way by working legitimately online. Accessing cryptocurrency requires opening a crypto wallet. The wallet is owned only by the individual. This wallet is a cloud based. People prefer it as it is decentralized. The first currency of cryptocurrency is Bitcoin which gained much success and recognition. The value of Bitcoin is very high. Cryptocurrency is a digital money without the need of any central bank or government. Earnings are done in a decentralized manner by working on a digital technology based platform. A form of cryptocurrency is bitcoin. By working in these platform Bitcoin is earned. Later that money is verified through blockchain and they have a record of all the data. Blockchain works with this entire database. Transactions on Blockchain are very secure as the data are secured by Cryptography. Blockchain is always secure because of its encryption feature. Transactions can be done very easily and safely. Blockchain has such safeguards that no community or organization can enter it. Blockchain cuts third party fees. As a result, the transaction is completely accurate. People always want not to spend extra. His own account should not be tampered with and his transactions should be secure. This is why people are choosing Blockchain day by day. Since its inception, Blockchain has gained publicity due to the security it provides. The use of cryptocurrency or Blockchain is increasing day by day.
Enthusiasts of cryptocurrency and Blockchain are the cryptospace. Which includes traders, developers, adapters, users etc. Before the detailed discussion, if we talk about Blockchain, then we have to look at the current generation. The world is now completely dependent on technology. People use technology in every day to day life. Thus, technology is now a very preferable medium for everyone to be financially sound and Blockchain is the most widespread means of financial solvency using technology. Blockchain is a means of financial major development. Which improves the economy globally. Blockchain technology works with a specific database. In a blockchain, a block is connected to another block. Blockchain allows working in a digital format. Blockchain is an significant innovation to digitize human life. It is a reliable medium. Because the user himself gives his security here. Because here everything is decentralized. No other party interferes. So there is nothing to worry about. Since the entire thing is controlled by technology, there is no individual human work here. Hence no trust issue arises. Blockchain platform is preferred by users due to its decentralized nature. Because if it is centralized, there would be interference from anyone like a community, an organization, or an individual. Decentralization is brought to blockchain through disintermediation and competition. A distributed network is owned only by the user. Like centralized networking, there is no chance of account getting stuck or any problem. Being decentralized, since the user himself monitors and controls everything, there is no scope for any trouble. Authentication is ensured by blockchain removing the need for third-party involvement in financial transactions. Blockchain assures an advanced and perfect business platform. Blockchain affects many fields such as education, economy, production, manufacturing, economy etc. Several factors work to grow the economy, before that let's say what the economy is! Economy is the most efficient use of a country's or a community's inputs. If we deduce it in easy words, an economy is an internal relationship of a country's resources, goods, production and consumption. Blockchain helps in industrial and economic production of a country. Blockchain ensures a guaranteed security economical field .
The most popular cryptocurrency is Bitcoin. If crypto starts paying dollars instead, its market value will drop dramatically. Volatility is the biggest part of what drives the cryptocurrency market. Through this, there is always excitement in the market. The stock market is very much affected by cryptocurrency. Due to which there are many sell offs in stock market. Since cryptocurrency is not regulated, many things are affected by it. Like demand, usage, utility and many other factors. The market is always volatile because the price of cryptocurrency fluctuates. Which has an impact on its users as well as on the global economy. Some steps are needed to reduce this irregularity. The price of cryptocurrency fluctuates due to supply and demand. Sometimes the supply is high but the price remains the same due to low demand. Again, many times the supply is low but the demand is high when the demand is not fully filled. Then you can see the difference between the prices. Again, due to the increase in the price rate of developed countries, the rate of cryptocurrency drops. Sometimes the crypto market also gets down due to the closure of many major crypto exchanges. Bitcoin's price is driven by supply and demand. That supply and demand does not maintain any regularity and makes its rate varies. The cryptocurrency sometimes rises a lot, such as the most skyrocketing rate in 2021. Crypto hasn't been able to get to that point since then. That's why crypto is not called future. So much uncertainty is created because crypto is not a regulated platform. A regularity has to be maintained to reduce these uncertainties. If these virtual tokens are brought under the control of tax then maybe cryptocurrency can be regulated a bit. Regulation is very important for consumers and their resources. Because of this, their wealth is under threat. Because if the rate falls immediately, a lot of people will lose a large amount. Which will indirectly affect the country and later the global economy. Fixing this aspect is very important for the safety of the consumers.
Cryptocurrency is built through advanced [algorithm(@leoglossary/leoglossary-algorithm) and encryption. Algorithms and encryption are very advanced technologies. Data is transformed through an encryption algorithm. The most secure encryption is the Advanced Encryption Standard (AES). This platform developed with the help of them is on the top list of everyone's favorites. The use of which does not require any provision to the state government. This digital currency is not managed by the government so there is no tax to be paid, so more and more projects are now moving to crypto industry. Cryptocurrency is working to make people's lives smoother and easier. Many people are investing a lot here. They have chosen this digital platform for their livelihood. Since it is a very trusted platform, it can be said that the cryptospace has a lot of potential. There are many good projects like Bitcoin, Ethereum, BNB. These projects have received a lot of hype so far. It can be said that their future will be very good. A lot of investment is made in these projects.Cryptocurrency provides protection through inflation. This is one of the biggest advantages of cryptocurrency. There are also many other advantages such as the speed of transactions is very high. Transactions can be done very quickly. There is no chance that once the transaction is applied for it will take much time. Another advantage is that it is very cost effective. Many transactions are done cost effectively. The cryptocurrency is also able to fund transactions globally. Here the third party fee is completely negligible. Cryptocurrency is a very effective and new model of decentralized money. Decentralization is one of the biggest benefits. This point is very effective for people who don't like central things. Diversity and accessibility are very good here. Only own access to own assets. Cryptocurrency generates a lot of profit. So its diversity is very good. Cryptocurrency is a very good medium for portfolio diversification. Those who invest only need a computer or smart phone to use this digital currency. It is possible to do all the work by yourself. No third party required. Unlike any other financial institution, cryptocurrency does not require any verification or proof when opening a wallet. It allows the consumers to send money to anyone or doing any online transactions. There is no intervention of the authority itself. Since the crypto wallet is owned by the person himself, no one else can know about his funds and cannot do any harm. So it is much more safe and secure. Again the transactions here and all database are stored and secured by the blockchain. So only who knows the private key of the wallet has the access. We can easily see live tracking of transactions or money transfers because Blockchain is decentralized. It is very convenient for investors as they can see their investments transparently. Privacy is maintained very strictly here as there is no involvement of any third party. Investors can convert their currency to any currency like US dollars, Indian rupees, Bangladeshi taka etc. An advantage of crypto trading is that it can be done within 24 hours. But some other platforms like stock or forex market have five days a week to work. But the crypto market is not like that, there is a lot of potential here. The young generation who have not yet started their professional life are also benefiting a lot by working with this cryptocurrency. Cryptocurrency exchanges are also such things where crypto trading is done. Here tokens buy and sell through broker. Dollars can be bought and sold through cryptocurrency via peer-to-peer and many long-term investments are made in cryptocurrency. All this is crypto business.
Despite having so many opportunities, this sector has some drawbacks such as Cryptocurrencies claim to be anonymous but actually they are pseudonymous because they are digital trails. Hash rate attack can happen in Blockchain many times. Sometimes a group of bad nature can slow down transactions on the blockchain. However this ill-natured group may attack Blockchain sometimes but not frequently still it's a risk. Again some people who use Blockchain in a illegal way and means are risky. They may cause many problems. So awareness should be spread all over the internet users. Before spreading awareness a mass amount of people have to know about cryptocurrency and Blockchain. There are a large amount of people who doesn't even know about cryptocurrency but they are in search of job or any financial support. People who are looking for livelihood should know about this digital currency first. They need to be taught about it. If the financial status of the people of the country can be improved, then the economic status of the country and later the world will expand directly.
Cryptocurrencies are much more widespread now than they were when they were founded. Day by day the prosperity of cryptocurrency will increase as its adoption increases. But in spite of so much interest of the people, sometimes the disinterest of the government is seen. Because the government believes that cryptocurrency will eventually stop. Again cryptocurrency has no refund and no cancellation which may not be liked by many. But even after that many people have chosen crypto as their main source of livelihood and they have become very proficient in it. In many countries where cryptocurrency is not very active, cryptocurrency is brought through crypto exchanges there.
We have seen many advantages and disadvantages of cryptocurrency here in the discussion. But I think it has more advantages than disadvantages. Although the government or state resources do not directly support cryptocurrency, people have grown a lot of faith in the way cryptocurrency has been going in the past years. How this virtual currency changes the quality of life of people can be understood by looking at crypto. The opportunities offered by crypto as we discussed earlier are transparency, decentralization, safety and security etc. These opportunities do not offer a regular platform. It is very difficult to find such a trusted place in this world full of fraud and scams. Its advantages seem to me to be more numerous. But before entering this field, it is definitely necessary to have a lot of ideas about it. Also requires very good planning skills. Because everything is online based here, technological matters must be mastered very well. Otherwise someone may fail in this sector. All in all the cryptospace is a very good way to change lives.
Now I will tell you in detail about my favorite crypto platform. Yes I am talking about Leo Finance. Leo Finance is the best social media platform I have ever seen. It is a Decentralized social media platform. This is a long form blogging platform designed in the style of Seeking Alpha. However, this is a Web 3.0 application, being built on the Hive blockchain. Users can earn tokens and coins for their activity. All articles posted as eligible for author rewards. This can come in the form of the blockchain's native coin $HIVE along with the $LEO token. Leofinance uses Hive's Proof-of-Brain mechanism. This provides both content creators and curators with the ability to participate in the ranking of on-chain content. Curation is done by the community, each with voting power based upon how many coins and tokens are staked. As one's staking amount grows, so does their ability to direct rewards. All voting is done over a 7 day voting window. After the period is complete, rewards are distributed to the wallets of all involved in the process. The author gets their rewards while each curator gets paid for the upvotes given. The calculation and distribution of the rewards are done by the network. This automates the transaction process. Leofinance can be thought of as a tokenized, permissionless Seeking Alpha. Hive is a decentralized database. In true Web 3.0 fashion, all data posted to Leofinance is written to the blockchain. This makes people's content immutable. Couple this with full account ownership and it is easy to see the appeal to content creators.
It's only been two months since I joined Leo Finance. Even 2 months ago I was just addicted to video games. After joining here I am being a part of Zealy Campaign. Since then my lifestyle changed. I am busy making threads all day now. Always thinking how to create a quality content. I have already created about 20 articles and video content here. Almost all the content is crypto related. I will link all my crypto related posts at the end of this post. If you want, you can read my post according to the project of your choice and get the basic idea.
If crypto currency continues to react in such a way, judging by the past and present of crypto, it can be said that crypto may dominate the world economy in the future. The way technology is expanding now and the way people are relying on it means that more people will join cryptocurrency in the future. I myself believe in cryptocurrency and have been working for the past few years. It has become a source of income for me. There are many people like me who have made crypto a part of their lives. In this way the standard of living of many has been greatly improved as a result of entry into the cryptospace. I invite everyone here who have not yet gathered any crypto related experience in their life.
At the end of this post I would like to give a special mention to a few people. They made my Hive Blockchain journey so easy. I am constantly learning something from each of them. First of all I want to thank @wesphilbin from @theterminal. Through him I got a complete guide about Hive. Feel free to join their Discord community if you too need some guidelines to create Hive content. Then I would like to thank @anomadsoul. He is managing this campaign through his tireless efforts. Also, when I ran out of resource credits, he helped me by delegating 50B of RC. Thanks to @khaleezkazi and @taskmaster4450. @taskmaster4450 and his team have created the Leo Glossary which is very useful for article writing. Finally I have to thanks @abu78, @nexo.voter, @louis88, @ayamihaya @yahuzah. They have helped me in various ways since the beginning of this campaign. As a result, I never felt lonely.
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