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On 27th March, The Bank of England stated that it is undertaking a POC (proof-of-concept) to figure out how the new RTGS (Real Time Gross Settlement) facility is capable of interacting with DLT (Distributed Ledger Technology).

blockchain features

Real-Time Gross Settlement

Real Time-Gross Settlement systems are basically special payment systems where the funds transmission is conducted amid banks on a gross basis and in real-time. On the other hand, this means that the transactions are processed immediately after being settled on a one-to-one basis, deprived of connecting with any other transaction. RTGS systems are generally used for “high value” transactions requiring prompt payment and operate by the central bank of a country.

The RTGS blueprint was issued by the Bank of England in May 2017, stating that the new service will be providing a different and flexible variety of settlement models, to make sure that the payment infrastructures have gained access to the money of central bank.

Reason Behind Central Banks’s Announcement

After the announcement by central bank to test blockchain features, it explained the main purpose behind it, which is to develop a payment service, compatible with Blockchain technology. However, in the recent announcement of the central bank, it excluded the idea of transferring to DLT completely due to the immaturity of technology.

The central bank announced that:

“Although the Bank has concluded that Distributed Ledger Technology (DLT) is not yet sufficiently mature to provide the core for the next generation of RTGS, it places a high priority on ensuring that the new service is capable of interfacing with DLT as and when it is developed in the wider sterling markets.”

The UK bank is going to cooperate with the companies that develop payment solutions by using advanced technologies. Following are the names of the companies:

  • Baton Systems
  • Clearmatics Technologies Ltd
  • R3
  • Token

The capability of DLT-based payment systems to interrelate with the renewed RTGS service and to qualify techniques in which the service’s performance could be extended will be examined by the project parties. The bank is also considering to report their conclusions by the end this year. Also, the ECB (European Central Bank) along with the BOJ (Bank of Japan) released their Blockchain’s potential study this week, for altering securities settlements.

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Prevent your bitcoin account from hackers  

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 Prevent your bitcoin account from hackers

Sometimes you have to face different issues with your funds. They may be snatched or hacked by someone. Whereas, bitcoin is a digital currency and addresses may be hacked by someone. To prevent from hacker, bitcoin must be kept behind multiple layers of security. In this article, we will discuss the ideas, how you can prevent your accounts as well as your addresses.

The most important feature of the bitcoin is transactions aren’t reversible. This means that once you do transactions either receive or send coins, they don’t have revers back feature. But, if your bitcoin account gets hacked then also you are not able to get back them.

Make sure first while you are dealing with someone via bitcoin technology. That person should be reliable and well-reputed. These precautions are necessary, but this is incomplete security.

To secure your accounts some basic personal checks, which may reduce the chances of your account being hacked or compromised. They are;

  1. Secure your email account
  2. Secure your technology related social media accounts
  3. For all the online accounts, use unique and strong password
  4. Enabling two-factor authentication

The Main Issue:

Someone breaks into an unlocked house and take precious diamond jewelry away. This is not jeweler’s fault. You were not able to keep your things secure from a robber. Same with the email accounts. People says that their accounts got hacked. The reason is they don’t completely put security to their accounts.

If a hacker has access to your email account, he will see the history of websites you log in. In addition, will visit the sites one by one and ask to reset the new password. Once the password gets restart, you will easily cut off from your account.

Secure Your Email Accounts:

Following are some terms by which you can secure your account.

  • use the strong and unique password
  • keep eye on login activity
  • review and remove email auto forwarder
  • the review linked accounts
  • 2-factor authentication

Use Strong And Unique Password:

Now, its technology era and you have to follow its rules and regulations. When you make an account on social media you have to use unique and strong password consisting of letters, words or capitals. In addition, especially in a case of bitcoin. You have to make sure that your password is strong, tricky and unique.

Keep Eye On Login Activity:

well-reputed email provider websites allow you to see which locations and devices recently accessed your email account. If your email account is open on both laptop and mobile, sites will show you double login sessions. And, you don’t recognize your login session, immediately sign out of all other sessions.

Review And Remove Email Auto Forwarder:

Most of the email sites provide a feature where email can be forward to different addresses automatically. If you monthly received the invoice from telephone company then your spouse or housemate will receive the copy of the same email. Which is more secure for your email accounts.

Prevent your bitcoin account from hackers

Here, the issue is, if the hacker got access to your accounts in past. Possibly they have auto-forward setup. Accordingly, the one for sensitive emails to be forwarded to them. These saved emails can be used against you.

Review Linked Accounts:

Review links accounts may be used for good and bad both purposes. We humans like new changes in our routine life. The problem is when we don’t want to log-in and after switching to new one, emails still send to the old addresses.

In that sense, you simply link to two accounts. And, you also have the accesses to both accounts, you can log into the new one, link the old one and all emails sent to the old account will still arrive in your new account. You can send email from a new account by using the other addresses. while you are doing small business it is useful for you. Where you can receive, and send the email to the same inbox. But, the problem is still the same. If your account gets hacked and hacker receives and send the emails same as you. In that scenario, you don’t have another option. So, keep your accounts secure by adopting different ways of security.

2-Factor Authentication:

Two factors authentication needs two things to get access to your email account.

  • your password
  • your mobile phone

If two-factor authentications are enabled, no one can get access to your email account.

Secure Your Technology Related Social Media Accounts:

People are friendly with the social media they do the same with email accounts. They won’t need a new password or new email account.

 

 

Social Media Accounts

For all the online accounts, use unique and strong password

your password should be strong and unique. The reason behind is,

Why Should Password Be Strong And Unique?

we already discuss that password of your accounts should be strong. It is simple, that your login different accounts with same and simple password. You are leaving your account open to hacking.

Especially, when you are treating with bitcoin wallet addresses. you need more security for your funds. Hundreds of time we log in with hundreds of the sites. Which may have an option of encrypting. So, it’s totally up to you to choose a suitable and reliable site for your transactions.

It very simple for the hackers to hack bitcoin wallet. So, use password management tool for a strong and unique password. It will help you surely.

Enabling Two-Factor Authentication:

Prevent your bitcoin account from hackers

One of the best and free ways to secure your accounts is two-factor authentication with the time period of two minutes only. 2F-authentication create an extra layer to any account by requiring two things. Are, • something you know which is your password. And,

  • something you have is your device

Now, many sites support two-factor authentications including google, Luno, and Facebook etc. It is possible that you already receive a message with the one-time pin for certain transactions from your bank or credit card provider. These are the type of 2F authentication.

How To Enable 2FA?

  1. Download and install 2FA app:    

You need to install well reputed and reliable 2FA app on your device. Like, freeOTP, authy, google authenticator, And, set it up on supported sites.

  1. Set up 2FA on your online account:

There is a large number of sites who support 2FA authentication. For setting up, please contact the supporting sites. For example, I am giving you the example of Luno. Below is some instruction for Luno,

 

 

Prevent your bitcoin account from hackers

You have to,

  • Add a new account
  • Scan QR code as shown by site
  • Save that account

Luno will send you six-digit code,

Prevent your bitcoin account from hackers

  • Store this code and store it in safe place
  • Type it into your 2FA app
  • Click enable

Above code changes in every 20-30 seconds. Your device and Luno now connected. As a result, if someone wants to get access your account, he/she have to get Luno password first.

Closing:

There are too many ways to secure your bitcoin account from hacking. In the end, a decision is yours.

Good luck!

 

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LATEST: Why Bitcoin is Hottest 2017! * Experts | Investors | Traders | Reviews

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5 Advantages of Digital Currency – Is This the Currency of the Future?

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Do You Want to Become Independent of Banks?

The last few years have all been about cryptocurrencies as more and more people are becoming aware of the word. In particular, terms such as Bitcoin, Ethereum, and Litecoin are more common in the digital currency department.

Here are some of the best performers in the market:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Ripple
  • Litecoin
  • IOTA
  • NEM
  • Dash
  • NEO
  • Monero

 


How Are Cryptocurrencies Meant to Help You?

With the world becoming more and more economically dangerous, we are advancing towards different means of payment. This is where cryptocurrencies come in to play.  Below we’ve outlined a few pros and cons of accepting cryptocurrencies worldwide.

Advantages and Disadvantages of Using Cryptocurrencies

The benefits of using digital currency over fiat currency

  • Accessible by everyone: Out of 7 billion people, around 2.2 billion don’t have access to exchange systems, even while having cell phones and internet access. These individuals can easily access the cryptocurrency market, as there are so many mobile phone-based applications that allow you to transfer digital currencies.
  • Fraud: Digital currencies cannot be faked as real money is, and they can’t be reversed either as in credit card charge-backs.
  • Low Fees: Cryptocurrency exchanges ask for transaction fees which are quite low compared to other transaction charges, this is in return given to the miners as a reward for mining a block.
  • Identity Theft: There is no such issue with cryptocurrencies as identity theft since you are not revealing any personal information. It is a simple process, involving a public and private key.
  • No Third Party: Cryptocurrency transactions do not revolve around any central authority, it is completely independent. You are in control of your money.

In the end, technology is already here, it’s just a matter of acceptance. You must be able to weigh out the good and bad and decide what is the better choice for you. Cryptocurrencies are becoming an easier option of payment for many users since they’re fast as well as secure. If the above advantages are convincing and you’re wishing to buy some bitcoins or any other cryptocurrencies, then follow the link below.

Related: How to Buy Bitcoins?

 

Story Credits: ameerrosic.com

Image Credits: google.com

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What Are Some Easiest Ways to Earn Bitcoin

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Easiest Ways to Earn Bitcoin

Bitcoin is the most popular form of digital currency. The use of bitcoin is increasing each day, and it’s becoming progressively hard to earn them. If you are one of the people who are keen on starting a venture in the world of Bitcoin, and looking for ways to generate your own coins, here are some killer tips that will help you learn how to earn Bitcoin – the most valuable cryptocurrency out there.

The Killer Ways to Earn Bitcoin – Accept It as A Form of Payment:

One of the easiest ways to earn bitcoins. If you own a large corporation, run a small business, are a shopkeeper or just provide your services online, start accepting bitcoins in payments.

To accept bitcoins payment, you will need to follow a few steps. The steps include:

Get a Wallet:

To switch to bitcoin payments, you will need a bitcoin wallet. It’s a virtual wallet which is used to store Bitcoin.

Display “Bitcoin is Accepted Here” Logo:

Once you have the wallet, display the logo that says “Bitcoin is accepted here”. This will help your clients realize that you accept Bitcoin payments.

Check out our guide on how to accept Bitcoin payments here.

Earn by Completing Specific Tasks on Websites:

There are several websites that offer bitcoins for completing certain tasks. Some even offer bitcoins just for visiting their home page. The concept is similar to the good old free TV. You watch numerous ads, and in between these ads, you get to see something that grabs your intention, like a funny clip or a song.

Earn Through Mining:

One of the easiest ways to get bitcoins. In Bitcoin mining, the miners from all across the world connect with each other through mining computers and the internet to form groups. These groups are then given certain problems to solve. Those who successfully solve these problems are rewarded with bitcoins.

To do the mining, you will need a powerful computer, fast internet and electricity to keep the computer running 24/7.

Earn Bitcoins Through Tips:

Accepting bitcoin through tips is similar to accepting bitcoin as payment. You will need a wallet, QR code with bitcoin wallet address on it and people who can potentially give tips in bitcoins.

Here are some ways through which you can get in touch with people who deal in bitcoins:

  • If you have a shop, simply display the QR code and keep an eye on what’s coming in.
  • If you don’t own a shop, no worries. You can also accept tips through blog posts. Simply put your QR code somewhere where the users can easily see it and then decide how they want to tip you.
  • Another cool way for getting online tips is Bitfortip. The service directs you to people who are willing to give away bitcoin tips

Conclusion:

These are some easiest ways to earn bitcoins. Putting it in a nutshell, you can earn Bitcoin by accepting it in the form of payment, writing online blogs, visiting different websites and completing specific tasks, and via tips.

Good luck with your venture.

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7 Shocking Things You Can Purchase with Bitcoin Right Now

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Bitcoin has been on a roll ever since the hard fork incident took place. The digital currency climbed to many new heights within the past month but, the most recent one was it hitting a record of $5000 per coin on Saturday, last week.  Let’s not forget, the value did fall by $1000 within three days before it made a speedy recovery. Bitcoin right now is hovering above $4,200 per coin.

We’re all aware that the rapid fluctuations of the cryptocurrency make it difficult to price products. But even with that continuing, there are still some exciting and wild purchases you can make with bitcoin.

Here are 7 of the most shocking things you can buy with bitcoin.

  1. Airline Ticket

    Back in the summer of 2014, Air Baltic was announced to be the first airline to accept bitcoin as a means of payment for airline tickets.

  2. Pizza

    In 2013, ForCoinsLLC was launched by two bitcoin enthusiasts. Their aim was to make it simpler for consumers to purchase items with bitcoin. PizzaForCoins is their website that allows you to pay with bitcoin at local franchises of Papa Johns, Pizza Hut and Dominoes.

  3. A college degree

    You can get a master’s degree in digital currency from the University of Nicosia, in Cyprus. They accept tuition payments in bitcoin through a bitcoin exchange but, their first class is free online. The degree costs $14,500 however, if you pay in bitcoin, you get a 5% discount.

  4. An apartment in Dubai

    Looking for a new pad? Well, the Aston Plaza and Residences in Dubai newly announced that the developers would be accepting bitcoin as a payment for studios, one and two-bedroom apartments. Prices begin at around $127,800 which is 27.55 bitcoins.

  5. Date night

    In Berlin, a restaurant owner claimed that about 10% of his customers pay using cryptocurrencies.

  6. A brandy distillery

    Presently, a distillery in Nemesvamos, Hungary, is selling its building along with the equipments for a little above 73 bitcoins.

  7. A funeral

    One funeral home in the U.S., Crescent Tide Cremation Services in Twin Cities, Minnesota is known to accept bitcoin as a means of payment. They even offer 3% discount if you pay in crypto-cash.

 

Story Credits: mic.com

Image Credits: techrepublic.com

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