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Showing posts from April, 2022

How do you set up your own cryptocurrency exchange?

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Blockchain and financial software are pretty intricate, and you need to decide how you want to tackle the initial development. The average cost of developing a crypto exchange may vary from $5k to $50k on average. The cost differs due to the technical infrastructure your software developer is using, where they are, how many developers are needed to complete the project and most importantly how fast they can launch.   In-house development If you want to develop your software in-house, you should have some technical and programming knowledge and experience. You should also assemble a team of highly skilled engineers and developers who have experience with financial transactions and/or  blockchain application development. Open source and white label solutions However, if you do not have a technical background and want to get your exchange off the ground as quickly and safely as possible, you may want to consider  white label exchange script  and open-source solutions. Having some technica

How Nft marketplace works? Know-how guide

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    What is NFT? NFT is the form of cryptocurrency token that exist to represent the digital ownership of any items found digitally. It may be art, music, sports, virtual land, photos etc. Being unique identity and ownership of an NFT is verifiable via the blockchain ledger. They were first launched on the Ethereum blockchain, but other blockchains including FLOW and Bitcoin Cash now also support them. Whether the original file is a JPG, MP3, GIF or anything else, the NFT that identifies its ownership can be bought and sold just like any other type of art – and, like with physical art, the price is largely set by market demand. How NFT marketplace works Nft marketplace is created for creating, exchanging, trading and selling NFTs in a peer to peer manner. The marketplace enables creators to create their own NFT assets and make them visible in the profiles as a collection. This is what called as NFT collections. When users in the marketplace signed up, they agreed to abide by the term

Smart contract characteristics - A detailed guide

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  An Introduction to Smart Contracts   Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They are used to automate the execution of an agreement enabling all participants to obtain outcome, without any intermediaries involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met.   Logics behind smart contracts   The idea behind this is that contracts are represented in software and hardware in such a way that performance and consideration are predetermined by the program logic. Each transaction in smart contract is validated by a peer-to-peer network and recorded in an immutable chain of entries.   The Future of Smart Contracts   Smart contracts are being used across many industries. In the Utilities industry, smart contracts are efficiently governing the distribution of energy in microgrids. Devices in a microgrid are linked by smart sensors enabled by the internet of things. The

How defi platform owners make money?

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This blog is for people who already have knowledge in Defi concepts and have a clear understanding of defi protocols. Many entrepreneurs are finding ways to earn passive income through the defi system. To help them, we explained the three main profitable methods in Defi which business people can get started with.  Lending or borrowing Lending is the most common defi protocol used by many defi applications worldwide. It is the concept of lending your cryptocurrency or tokens as a collateral to get the loans for an obligation. This is similar to the concept of a banking financial system. But the main difference here is decentralization. No one needs approval from central authority to avail crypto loans that you can trade or sell them in exchange of fiat. Millions of people use this defi system to acquire additional value for their digital asset by making use of liquidity. The defi owners earn the commission for letting the user’s crypto diversified for lending. The lender earns the inter