ICO - an unregulated method of raising capital for various business ventures related to the Fintech industry. The collection is divided into stages, for the funds acquired in digital currencies, such as Bitcoin or Ethereum, tokens, i.e. units of the digital currency associated with ICO, are offered. Well-known faces from the industry, good description and marketing influence the acquisition of capital. The largest collections are currently obtained after about USD 200 million, such as EOS or Tezos. The method of acquiring funds is similar to IPO, but it is not so restrictive. The first best-known Internet of Coins was Ethereum, which raised 14 million USD. Today we are dealing with the huge popularity of such collections, as more mushrooms appear after the rain. We will try to describe the most interesting, as well as risk analysis, because as long as the industry is unregulated, it is very profitable but also risky.
Blockchain, or a block of blocks, can be simplified as a bitcoin transaction book. Blockchain stores all transactions generated since the beginning of the bitcoin network. Individual blocks contain operations made by users in a bitcoin network at a given time. The security and robustness of blockchain manipulation is ensured by the fact that each block contains a check sum of the previous block. Thanks to this, no one can interfere in the records of such a "book". It is stored in thousands of copies with all users who have Bitcoin installed on their computers. What is equally important, blockchain is open only to new transactions, so the operation already performed is saved in it forever, without the possibility of any changes at a later time.
Blockchain is the basic advantage of bitcoin networks over traditional banking, in the case of which the books are kept by banks that have the possibility of interfering in transactions made by clients. The use of bitcoins is based on the principles of cryptography and mathematical laws, which protect against fraud and minimize the threat of error caused by the human factor. In addition, the bitcoin network is the fastest network in the world, with great power, which is constantly increasing.
Another characteristic feature of the blockchain is that at any time everyone can look at it by entering any bitcoin address. He then gets access to all transactions made at this address. At the same time, however, the user of a specific address remains anonymous, which is another advantage of the bitcoin system. Blockchain is considered the most important technological innovation of bitcoin system, and individual blocks of the chain are compared to individual bank statements known from traditional banking. The first block, the so-called "Genesis" was created in 2009, and now on average every 10 minutes a new one is added to the chain.
Mining is the extraction of Bitcoins. A miner can be anyone who has the right computing power of the equipment. Because such computing power (work) is needed for the correct operation of the network, diggers are also needed. Thanks to them, transactions on the network can be performed. For its work, the network rewards miners with new bitcoins.
All transactions carried out on the network are saved in blocks that make up the blockchain. Miners have to break the block, and the one who does it first receives the prize when the remaining network nodes check the correctness of this calculation, and when it is confirmed. It is a secure way to collect and transmit data because no entity has access to the chain and the ability to manipulate blocks and related data.
Increasing the power does not increase the speed of Bitcoin mining. The network is a type of self-regulating network and adapts so that the mining time of blocks is equal to 10 minutes. The parameter setting the difficulty of the cryptographic problem made by miners is used for such control.
Below is a list of the best sites on which Bitcoin can be played via the Internet.
The site offers honest casino games and guarantees
"fast transactions, continuous withdrawals, fortune wheel, slot machines,
Bitcoin" and other options.
With the website administrators. In the previous year,
for example, the founder and CEO of Primedice, Edward Miroslav, answered
questions from Bitcoin.com users Primedice offers nice graphics. No need to deposit, and ease of use is an undeniable advantage.
This less popular site offers Satoshi Bones, a game with the use of cubes,
introduced in 2014. Users play in BTC or LTC
CoinRoll offers a low casino profit (1%). No registration required.
Winnings can be sent to any address. The plants are made on the basis of blockchain
and processed in a fair manner. Coinroll is seen as safe.
Founded in 2013, 777Coin is among the first generation Bitcoin casinos.
This site is a bit outdated and can cause nostalgia among players.
It is run by two anonymous BitcoinTalk users, i.e. Lightlord - the founder and owner,
and Zoadiac1233, dealing with development and support.