Over the past few months, the cryptocurrency space has been shaken, not stirred, by a series of high profile hacks. In June, Bitcoin’s biggest rival by market cap, Ethereum, was drained of tens of millions of Dollars’ worth of ETH tokens. On August 2nd, a major Bitcoin exchange was hacked for a grand total of 199,756 BTC - at the time worth around 90 million Dollars. This is how you can make sure your coins are secured...
Being the first majorly used cryptocurrency, Bitcoin has come a long way within 7 years of its beginning. Even though there were other systems existing before it, Bitcoin gained the most traction. But now, with a lot of competition coming its way, what will happen to Bitcoin in the coming decade?
DAO or Decentralized Autonomous Organization refers to the decentralized network of narrow-AI agents that are autonomous, whose function is to maximize the production output and divide the labor in different computationally difficult tasks.
Most of you out there must be familiar with Bitcoin. If you do not know what it is, then you may have at least heard of it. Bitcoin is not a recent thing though, it has been around since 2009. While it may be the first crypto-currency, it certainly is not the only one with Ethereum being one of its biggest competitors right now.
What if you could bind lawyers, banks, wills and contracts all into one single entity; thus removing the need to individually located and pay these intermediaries, and make it all a more efficient process. That is exactly what ‘Smart Contracts’ are all about. It is a technology that is set to change how contracts are made, modified, handled and executed.
To put it in simple words, Ethereum is a decentralized platform for running smart contracts. Smart contracts are applications that run just the way they are programmed, with virtually zero possibility of any censorship, fraud, third party interference or downtime.
