Understanding How Blockchain Technology Makes the Use of Virtual Money Possible

Blockchain technology is a method that makes it possible for Internet users, to send and/or receive money without need to use a third party infrastructure. Using a specific blockchain application and by way of cryptography, money remains confidential and virtual for as long as transfers are made and recorded in the open ledger of a blockchain platform.

 

 

The blockchain platform supplies the “private key” or the verification code needed by each transacting party, either as a cryptocurrency sender or recipient. Without a private key, the cryptocurrency cannot be transferred or recorded in the blockchain ledger. The inclusion of a private key encryption therefore, renders the cryptocurrency transaction valid.

Correlated to the “private key” is the “public key,” the latter being the open cryptographic message generated by the blockchain application to identify every cryptocurrency transactions recorded in its blockchain ledger. A blockchain cryptograph entry therefore represents the public key and a valid private key.

How the Blockchain Platform Records and Links All Related Cryptocurrency Data

The blockchain ledger is open as it allows verification of transactions as they occur.

A specific blockchain recording, starts by linking the origin of the cryptocurrency in use. The original cryptocurrency transaction may be related to the purchase of the virtual money for a specific value using actual cash. The virtual money may have originated from a cryptocurrency exchange platform or cryptocurrency wallet provider.

Another origin of a specific cryptocurrency is when a miner earns it by solving all transactions connected in a particular blockchain ledger.

In both cases, a public key to identify the original transaction is generated, while the procurer or miner receiving the cryptocurrency will obtain a “private key.” If a portion or all of the original cryptocurrency received will be sent to another blockchain platform user, the private key encryption of the new owner will be recorded in the blockchain ledger.

The new recipient will likewise receive his or her own “private key,” as it gives the recipient valid authority to use the cryptocurrency for his or her own blockchain transaction.

In every blockchain transaction, the public key identifying the cryptocurrency transaction must come with a corresponding “private key,” to allow confirmation that the transaction is connected to a particular series of blockchain entries.

A cryptocurrency may be in bitcoin denomination or any other type, classified as alternative coins to the widely used bitcoin. Some examples of alternative coins or altcoins are Ethereum,Litecoin, Ripple, Dash and Cardano.

How to Convert Cryptocurrency into Actual Cash?

Still using cryptography, virtual money or cryptocurrency can be converted back into actual cash through a cryptocurrency exchange platform. The platform may be one that belongs to a third party cryptocurrency broker or a peer-peer network of cryptocurrency users.

The commutation of virtual currency into actual cash will again be recorded as a related part of the series of blockchain transactions; tying it up to the initial blockchain entry identifying the method of how the cryptocurrency was obtained. Once the public key and the private key has been verified through the blockchain platform, actual exchange of cryptocurrency into cash will be allowed to take place.

Knowing if a Mobile Application is Worth to Invest

Android, Apps, Launcher, Applications, Cellphone

When it comes to investment, many things come to our minds such as cars, condo, stocks and many more. This is because investment is such a big word. If you search the internet and look for the definition of the term investment, you will find that “An investment is an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth“.  If you think that only those who have plenty of money can invest, then you are wrong. People can invest on cars and homes, for example, if they apply for a loan. There are a lot of institutions and bank that offer loans which is why it is important to vertaa lainoja and determine which loan is perfect for you. If you would want a loan to make a dream come true or combine existing loans, Zmarta compares loan offers for you so you can choose the right loan offer from their banks and institutions. You may also  ant to check out their Loan Calculator and find the right loan for you depending on your plans as well as financial capacity. 

It is not only through stocks, cars, and condo you can invest your money. Because of the technology advancement, a lot of people are investing on mobile applications. But of course, if an idea about an app is presented to you, you must make sure that it is a perfect app idea that is worth to invest.

To help you assess whether the idea is worth to invest, below are some questions which need to be answered in order to see if the creation will reach the investor’s expectation.

1. Is there a great demand from the market? How about the competition? 

Of course you need to know whether an app like the one your are planning to invest to has similar features in the app store. You can look at the app store, crunch base, and mobile action.

2. How Do Others Feel About the Idea? 

Good opportunities to meet people interested in mobile solutions are provided by social media networks and all kinds of tech events.

3. How Big is the Interest?

There are a lot cases when a new invention will fortunately start as a big hit to the industry but after a short period, there will be a sudden decrease of interest from the users.

Major Benefits of Hiring a Tax Accountant for Businesses

Running and managing a business is no easy task. You will be charged with countless of tasks. These tasks have to be performed remarkably to ensure the success of the company or business. In the process however, managers and CEOs have to keep an eye out on their finances and guarantee that bookkeeping, taxes, payroll and everything related to finances is handled accurately every year.

While all these things are important, let’s face the fact that it’s something business owners can’t give enough time on. The solution is simple. Hire a professional accountant who will overlook all the assignments mentioned. As a matter of fact, WOT knows have in-house accountants to ensure that their finances are always on point.

Don’t make Life Hard for Yourself

Besides, there are many benefits of hiring such professional. If you are feeling skeptical or not confident about it, keep on reading.

Accuracy in Bookkeeping

For any organization or company, bookkeeping plays a critical part to its finances. It’s just literally impossible to determine how much money the company is making or losing if there’s nobody doing the bookkeeping. With the presence of experienced accountant, they have the skills and experience to do the bookkeeping fast and efficient. Thus, keeping you informed of your company’s finances whenever you needed.

What about Taxes?

For companies, the tax season is one of the most dreaded situations. They have to sift through all information and figure out what they have to claim and to which deductions best work for them. This is quite troublesome and stressful to do. Therefore, to free themselves from such trouble, they’re hiring accountants to do their taxes instead.

Payroll System, Not a Problem

The business owner is the only person who has control of everything within the business.

Usually though, employees have to operate in an agency and assist customers when coming in. Not only that, you have to do your inventory, office equipment as well as utility bills. Doing all these things on your own will eat great amount of your time – time that can be used on more productive things.

With an accountant however, they will be sorting everything in order. They can even set up your payroll system so by that, you’ll have the confidence that your staffs are paid accordingly and timely every month and that you’re spending within your means.