How Does Cryptocurrency Work? The Technology Explained

You’ve probably heard of cryptocurrency: Dogecoin and Bitcoin have both been making big headlines this year, and the latter has soared in popularity in recent years. According to recent statistics, around 46 million Americans now own Bitcoin!

Yet how does cryptocurrency actually work? What is its value? Where can you use it?

In this guide, we’re going to cut through the jargon and take a look at what crypto really is and everything that you need to know about it. Ready to get started? Then read on!

What Is Cryptocurrency?

Cryptocurrency is effectively electronic money. It’s a form of currency that almost exclusively exists online (you can sometimes buy physical Bitcoins but these aren’t common).

While this might seem like a strange concept, fiat currency is heading in the same direction. If you rarely use cash, you’re already using “electronic currency,” just in a different form to crypto.

Unlike fiat currency, cryptocurrency is decentralized and can be used all around the world. It doesn’t have the backing of any government: the only backing it has comes from its users.

Why Is Cryptocurrency Valuable?

One of the biggest sticking points that people have with crypto is discerning why it’s valuable. If it’s not backed by a government, what gives it value? The truth is, it has value for the same reason as any other currency: people accept it as payment!

No nation’s currency is on the gold standard today, which means that it only has value because the government says it does. Crypto only has value because people say it does and accept it as payment. 

How Can You Get Cryptocurrency?

If you want to get your hands on cryptocurrency, you’ve got two options: investing in cryptocurrency or mining it. Investing is easy. If you want to buy and sell Ethereum, for example, you can use an ATM or currency exchange to swap your dollars for crypto.

So, how does cryptocurrency mining work? This process is a little more involved. You use your computing power to verify transactions on the blockchain, the decentralized ledger of all transactions that crypto has been used for.

The only issue with mining is that it uses a lot of computing power and other users with more powerful machines will be trying to outcompete you. You might rack up a huge power bill and gain a few dollars in crypto. For most people and most cryptocurrencies, it’s not worth it in 2021.

What Can I Do With Cryptocurrency?

What is cryptocurrency used for? It’s gaining a lot of popularity in the world of online payments, and you can already use it to buy products from Starbucks, AXA Insurance, and Home Depot.

Then, of course, you can also treat it as an investment. If you do this, remember the golden rule: never invest money that you can’t afford to lose.

How Does Cryptocurrency Work: Answered

We hope you’ve enjoyed this quick look at the key question of “how does cryptocurrency work?” As crypto gains popularity, you’ll likely see more stores start to accept it and new cryptocurrencies pop up, allowing for a diverse investment portfolio.

For more informative articles like this, check out the rest of our blog!

5 Advanced Technology Trends Everyone Must Know in 2021

Technology trends are constantly evolving with each passing day. From Artificial Intelligence (AI) to the Internet of Things (IoT), we’ve witnessed brilliant tech transformations and how. 

Every day, new technology is making the rounds, making the other technologies obsolete. Developers and scientists are continually investing and working on the existing technology for the better. But with the outbreak of the Covid-19 virus, one thing is clear that technology has broken all boundaries and become a critical part of our lives. 

As the entire world prepares to take a step towards recovery with advanced medical facilities, we must stay updated with the latest technology trends. Let’s now look into the technology trends in 2021 that will shape the lives of humanity. 

5 Biggest Technology Trends To Keep An Eye For In 2021

Artificial Intelligence (AI)

Even a few decades ago, the concept of Artificial Intelligence was alien to us. But with each passing year, AI is getting more and more powerful and significant in all sectors. Although AI was initially used for security and customer service, most companies have started experimenting with AI to generate real-time data, improve business activities, and enhance customer experience. 

A report predicts the AI market will cross over $57 billion in 2021 and $190 billion by 2025. As trending technology, AI programs are developed to mimic human intelligence for more critical functions like medical diagnosis, speech recognition, or weather forecasting. 

The use of AI as personal assistants is now widely popular among most of us. Apple’s Siri, Amazon’s Alexa, Netflix, and search engines like Google and Safari greatly depend on AI application. Developers are consistently working on creating AI-based academic tools such as a spell checker or essay generator, or chatbot to enhance student’s educational experience. 

From the job perspective, it’s more of a win-lose situation. While AI automation may create 70 million job opportunities in data science, testing and programming, it may also wipe out 23 million jobs. Software developers with a niche for AI have the chances of securing better jobs and earn more than developers who don’t. 

Extended Reality (XR) – Virtual & Augmented Reality (AR/VR)

While augmented reality (AR) gives a user a view of the natural world through computer-generated images, virtual reality (VR) places the user into a computer-generated environment. Extended reality is the amalgamation of augmented and virtual environments. 

Previously you used to view the gaming environment, but now you can be in it! AR improves the virtual environment with sensory stimulations, and VR gears give you the feel of being part of the 3D gaming world. The US Army and Coast Guard use VR for training activities. 

Although such technologies were predominant in the gaming industry, they now play a massive role in improving user experience and offering endless opportunities to all sectors. 

Due to the sudden school closures across the globe, statistics assignment help experts, entrepreneurship assignment help experts and parents and other educators turn to Ed-Tech to make learning engaging and effective for students. Doctors are using this technology to obtain accurate diagnosis reports for proper treatment.

Both AR and VR have significantly grown over the last few years, and the transmission will reach a new height. The market is expected to go over $209.2 billion by 2022, creating more job possibilities in the tech sector. 

5G and improved internet connectivity 

5G mobile internet connectivity opens the door to super-fast download and upload speeds. Even though it’s available since 2019, it’s only restricted to hi-tech cities and limited areas. While 3G improved internet browsing on mobile devices and 4G improved streaming speed and bandwidth, 5G aims to enhance connectivity by 10 to 100X than previous networks.

2021 may be the year when a 5G internet connection is made available for a greater mass with cheaper data plans and excellent connectivity. This super-fast internet facility would enable us to browse the internet, stream online videos and media without any interruption, and make the transfer and collection of data much faster and easier.

Meaning, services that greatly rely on advanced technologies such as AR/VR or other cloud-based gaming environments can be accessed anywhere. Also, such network connections make cable wire connections, tethered to a specific area, redundant. 

With the super-fast speed of data transfer, businesses can complete their work faster and become more efficient. If you consider expert predictions, the number of 5G connection will see a massive boost, with the figure crossing the one billion mark worldwide by 2023-24. Now only time will tell 5G connection’s impact on various sectors, including the tech world.

Internet of Things (IoT)

Simply put, the Internet of Things (IoT) is a network of interconnected devices connected by Wi-Fi and can share data within their environments. Each of the devices is associated with a chip that makes exchanging and collecting information on the internet quicker. 

In a world where we are fighting against a deadly virus and relying on tech tools and devices to stay connected, IoT can play a significant role in transforming the way we live, work, and socialise. 

IoT has simplified our work-from-home situation. With AI-powered tools like Siri and Alexa, we can only hope for such automated devices to manage our regular work efficiently. 

Experts predict the IoT market will hit close to $1.1 trillion. 2021 may witness hospitals, nursing homes, and other healthcare bodies make a colossal investment in IoT to overcome the current healthcare challenges. Virtual doctor visits or online appointments have hit close to one billion marks and will continue to go upwards. 

Businesses too can use IoT to collect real-time data to analyse various business sectors and improve their customer service. 

Cyber Security 

A lot of you may wonder what cybersecurity is doing in a list of top tech of 2021. Well, it certainly deserves a place on the list due to the growing security concerns. With advanced technology comes advanced cyberattacks.

In this digital age, data is the most crucial asset of a company. Whether a company is a small firm or a large enterprise, a data breach can cost a company millions of dollars, not to mention the legal challenges. Social media giants like Facebook had to deal with lawsuits for a data breach.

Cybersecurity has become all the more essential because of the current remote working setting. Workers’ identities and devices in new, unsecured working environment remain vulnerable to cyberattacks as hackers have advanced hacking skills.

Hence, 2021 is another crucial year for the cybersecurity departments to tighten their security using the latest technologies. 2021 will also increase the demand for jobs in this sector by 3X compared to other tech sectors. Cybersecurity tools will only be on the rise to secure personal and professional life in 2021.

Wrapping Up

Technology is continually evolving, and it will continue to do so. With the Covid-19 pandemic, we human beings have become incredibly dependent on technology to function virtually. From conducting an online marriage ceremony to virtual doctor consultations, technology has taken a pivotal role in our lives. 

Advanced technologies such as AI, VR/AR and IoT have significant potential to make the world a better place to live in. Only time will tell how cybersecurity experts and other business sectors use these technologies to create robust security measures and ensure all industries’ safety and business activities. 

Lastly, new technologies will continue to advance and create lucrative job opportunities. All aspiring software developers and computer programmers should consider learning about these advanced technologies to take a giant leap in their careers. 

How Technology Can Help You Make Money Online

Technological innovation has given birth to the online marketplace where professionals can market their skills and specialized expertise. Most people believe that the work-from-home paradigm shift is new and a response to the coronavirus pandemic. That’s not true. 

The freelance industry is over a decade old, with remote professionals working with clients from all over the world. Telework and freelancing allow professionals to travel or manage multiple professionals to grow their income. Freelance marketplaces eliminate barriers and distances, allowing organizations to recruit top talent and employees from anywhere in the world. 

Aside from freelancing, technology opens up numerous other arenas to create a lucrative and stable income. You can start a blog or an online website to promote brands and their products as an affiliate marketer. Many creative artists and craftspeople use technology to begin with their e-commerce home-based businesses. 

Keep reading to explore some incredible ideas to generate an online income. 

Start a YouTube Channel 

A YouTube channel is the most lucrative way to earn money by curating interactive content and earning an affiliate income. It’s essential to choose a subject or niche aligned with your passions, academic training, and professional experience. A successful and engaging channel offers consistency and variety to its audience. 

Your channel can inform, entertain or inspire the audience with content that raises awareness or fights existing challenges. For instance, if you like creating documentaries and short films, YouTube is an excellent platform to build an audience. 

In recent years, paranormal investigations and ghost-hunting documentaries have evolved into a hot-selling genre on online streaming platforms. However, if paranormal investigations fascinate you, head over to ‘Spirit Shack‘ to equip yourself with high-tech cameras and a sophisticated arsenal. 

You can also start a fitness YouTube channel to dispense research-backed advice and share workout sessions. You can teach different workout techniques and muscle-building exercises to help your audience by sharing your expertise. A fitness YouTube channel can market an abundance of products, ranging from fitness equipment to supplements and nutrition products. 

There’s an abundance of subjects to choose from, such as travel, fashion, beauty, lifestyle, home décor, and much more. Find a niche where you can contribute the most, and let the creativity flow into a stable online income. 

Social Media Influencer 

Who doesn’t like the idea of getting showered with PR packages and sashaying down the red carpet on glamorous events? Social media influencers have emerged as prominent stakeholders in the modern-day digital marketing mix. Businesses rely on influencers to build reliability and trust as they help brands overcome consumer mistrust to promote loyalty. 

People take their advice on products, services, and lifestyle changes to enjoy the same results as they broadcast on their platform. However, establishing an enormous audience and building trust is a labor of love, and it doesn’t come overnight. Influencers work tirelessly to maintain creativity and engagement by experimenting with new tools, trends, and technologies. The pressure to maintain audience engagement is immense, as they’re constantly churning out new content to stay relevant and trendy. 

The struggle is real, but the advantages are also incredibly lucrative. Influencers can work with brands relevant to their niches and collect handsome payouts for collaborations and promotional campaigns. 

Affiliate Marketing 

Here’s a great option for those who wish to earn money without associating themselves with a YouTube channel or blog. Affiliate marketers advertise the products and services of various brands to earn an affiliate income on their sales. 

Marketers can work with large conglomerates and corporations, such as Amazon, Johnson & Johnson, and Shopify, etc. Numerous affiliate marketplaces, such as ClickBank, allow marketers to sign up for various affiliate programs. You can choose any program that is relevant to your expertise and niche. 

For instance, health bloggers can market health-related products and services, while fashion bloggers can explore retailers and cosmetic brands. Financial blogs typically provide affiliate marketing services to financial institutions, mortgage-related products, and debt settlement services. It’s crucial to apply for affiliate programs closely relevant to your blog’s niche and target audience. 

Most programs require a user-friendly, engaging, and popular blog, while some affiliate programs are willing to work with newbies. It’s wise to grow your blog and focus on building an audience before venturing into the affiliate marketing arena. 

Start an E-Commerce Business 

Do you enjoy creating wooden crafts, tables, and home décor items? Or perhaps, you wish to start a home-based patisserie to sell desserts and made-to-order birthday cakes? 

In 2021, businesses with an online model are ideally poised for growth and success because people prefer buying online. A home-based startup or an e-commerce business is a lucrative plan to kick start your brand and build a customer base. 

Whether you sell crafts, food products, cosmetics, clothes, or psychic readings, an e-commerce infrastructure will help you overcome numerous challenges. Starting a business with a physical space comes with an abundance of challenges and burdensome expenses. It’s easier to dip your toes in entrepreneurship with an online model that eliminates rental, warehousing, and HR expenses. 

Freelance Jobs & Projects 

Do you want to start a lucrative side hustle to supplement your monthly income with a flexible schedule? The freelance marketplace is brimming with opportunities for people with specialized skills and a disciplined work ethic. 

Online marketplaces and social groups allow businesses to hire qualified and experienced professionals for freelance gigs. Organizations prefer hiring freelancers as they are more flexible and charge significantly lesser than full-time employees. You can market any given skill, be it writing, graphic designing, web designing, digital marketing, and more. 

Many employers are willing to allocate tasks on project-based deadlines and continue lengthy working arrangements without signing any contracts. The entire purpose is to eliminate complications and strings attached to full-time employment contracts. Professionals can work with clients and businesses worldwide, growing their network and gaining valuable experience. 

Conclusion 

Technology has given birth to an abundance of inventions and innovations that allow skilled and talented professionals to earn comfortably. In recent years, the travel-and-work trend is all the rage, with more and more people choosing to work remotely. 

Millennials are more likely to ditch the 9-5 grind in favor of an exciting, adventurous, and fulfilling lifestyle. However, that doesn’t mean they don’t want to earn a stable and reliable income. Remote working arrangements and freelance marketplaces allow professionals to sell their skills from anywhere, anytime. 

All one really needs is a reliable internet connection and a workstation to focus and meet deadlines. Content creators and artists gravitate towards starting their YouTube channels and blogs and using their platforms as independent advertisers. 

Seven ways iPhone beats Android in the market place

If you’re not too concerned about cell phones, then a phone is just a phone to you. However, many differences between iPhones and Androids should be noted. While it may seem like brand preference and trends, they both cater to different groups and it’s important to know what differentiates them before you make your decision. There is a reason why iPhones are so popular, and it’s not only marketing. They’re very powerful machines that many consider the best, and they have a point. Here are 7 areas where iPhones have Androids beat. 

Seven ways iPhone beats Android in the market place

Ease of Use

Apple is all about user experience, and you feel it when using an iPhone. Everything is so intuitive and seamless. Even moving files from the device to an external drive is super easy while Androids make moving files inside the device and out much more complicated.

If you want to learn how to back up iPhone to external hard drive, we suggest you check out SetApp. They have an informative article that explains how to spot duplicate files and easily clean your gallery and storage. They also explain where to find backups, move them to the drive of your choice, and which tools are the best to do it.

Speed

iPhones don’t just look good, they are the real deal, and there is nothing on Android’s side that can beat the A14 Bionic chip you’ll find in their most recent model. It beats every Android there is hands down in that department. Even their A12 Bionic chip that you can find in the iPhone XS destroyed Samsung’s Galaxy S10 Plus in Geekbench 4. 

iPhones also do things such as transcoding video much faster. For instance, it took more than 5 times longer for a Galaxy S10 to transcode video than an iPhone XS. This is very big if you’re someone who needs to quickly record and transcode video on the go.

Better Software and Hardware Integration

Owning the whole widget gives Apple tons of advantages over the competition, and they can do things that other phones simply can’t. And, if they can, they only do years after Apple was able to.

Take face recognition, for instance. Their Face ID app is the only one that can securely log you into your phone by using a 3D scan of your face via a TrueDepth sensor. Many other manufacturers have tried to do the same, but failed. Memoji and Animoji are two more examples of software integrating seamlessly with iPhone’s features. Samsung tried with their AR Emoji feature which comes off as a value version of these.

The truth is that the rest of the mobile world will always be playing catch up with Apple. They have the resources, machines, and culture for innovation that other brands simply don’t have. 

Better Updates

Androids are not great at updates. As of 2019, it was estimated that it took about a year for Android Oreo to reach a 19% penetration rate. In comparison, more than 83% of devices that were released in the last 5 years were running the latest version of iOS. Android routinely omits to release their adoption rates out of fear of embarrassment.

The issue is that there are very few real Androids phones out there. These are phones that were made for the operating system and created to maximize each of its features. Apple, on the other hand, has control over the whole ecosystem, and there’s only one iPhone platform that has to be optimized for iOS by design. This makes it much easier to release updates for their phones contrarily to Android who has to deal with all the different phones out there, even those coming from some of the most obscure companies.

More Privacy

This one will probably be the biggest benefit for many. iPhones are simply better at privacy. Their encryption system is better and it’s the best option if you’re worried about getting hacked or viruses. Apple phones and products, in general, are less prone to hacking and virus infections, and it has been that way since forever. So, if you care about the security of your device, then go for an iPhone.

Better Service

We hear a lot of jokes about the Genius Bar, but it’s easy when other manufacturers have nothing of the sort. The fact that you can go to a store whenever you want and get assistance is something that should be applauded, and it’s one of the top reasons why getting an iPhone is about more than just the phone. Whatever happens, even if it’s something minor, you are always a phone call or trip to the Apple store away from getting assistance. The closest you’ll get to this with an Android is the Pixel line, but it doesn’t compare to Apple care.

No Bloatware

One of the most infuriating things about an Android is having a large portion of your storage space taken up by apps you will never use. This is referred to as bloatware, and something you’ll find on most Androids. Android phone manufacturers routinely make deals with developers to add their apps to their phones. These apps will not only take space but will continue to take more through updates. These are rarely apps people actually want, and if they want something like this, they probably have another app in mind.

Bloatware is not only annoying for the space it takes up on your phone, as well as the updates, but it could eventually become a security liability. Apps are used by hackers to get into phones, and if you decide to stop updates on bloatware to limit the space they take, hackers could take advantage of vulnerabilities that were fixed in later versions. Go with an iPhone and that’s one less thing to worry about.

If you were still on the fence on which one between an Android or iPhone would be the best for you, we hope we were able to help in your decision. While the iPhone has tons of advantages over Androids, it is still wise to consider both options and see what each one has to offer.