Functional Products in Blockchain To Consider for 2019 By Poul Thyregod

What is blockchain- blockchain is the technology that allows trading digital money like bitcoin, ripple, etherum. Blockchain is the process and bitcoin is the implementation. Bitcoin is the first product of blockchain when the blockchain process was made bitcoin was initially tested.

Bitcoin is the revolutionary cryptocurrency which is a digital payment system running on the blockchain technology. There are many platforms who allow us to trade and exchange cryptocurrency through their platforms, these platforms are safe for Cryptocurrency Exchange, no transaction fees are charged. There are two types of cryptocurrency exchange one is fiat exchange and second is the cryptocurrency to cryptocurrency exchange.

A blockchain has no transaction cost. A blockchain is a simple way of transforming information from A to B in a fully automated and safe manner. For example- if you are purchasing a railway ticket through any website through credit card, the credit card companies take the commission for the transaction, but if done on blockchain these charges are free of cost if the railway operators move entire ticketing process to the blockchain.

Working Products in Blockchain

Ethereum

Ethereum is a decentralized platform for money and new kinds of applications used worldwide. Cryptocurrency has been more in demand after the rise of bitcoin this year. But a new rising stat has entered i.e. Ethereum. Ethereum is a platform through which people can use tokens to create and run applications and create smart contracts. Smart contracts are contract written in code. The creator of code can upload that code into blockchain.

According to statista reports, the price of Ethereum at the end of April 2019 amounted to $153.68. As ethereum is an open source platform it won’t go down or be switched off but instead, the data will always be available. Ethereum is the first platform to bring smart contracts on the blockchain.

Brave Browser

Brave browser is a blockchain based browser that gives users a token for using a brave browser that token is BAT (Basic Attention Token). Brave is an open source blockchain powered browser that blocks website trackers and ads. Brave browser accepts digital payments i.e. bitcoin, litecoin, and ethereum. Users earn token by using brave browser.

As of mid-2018, there were over 3.1 million users.  BAT is trading at $0.433, gained almost 6.79% over the past one week.

Steemit/ Dtube

Steemit and Dtube is completely decentralized blogging and video sharing sites. Steemit and Dtube are a different platforms designed by the same person. Steemit is a platform for content writers to upload their content whereas Dtube is a platform where content can be uploaded in the form of videos.

Dtube is like a YouTube running on a blockchain. Steemit and Dtube have gain popularity since the last few days due to Facebook data breach and YouTube demonetization issues. In Dtube if a person has uploaded a video and got lot many upvotes than the person gets money in the form of a token called steem.

In Steemit if person uploads content and gets a number of upvotes then the person is paid in steem cryptocurrency.

Cryptocurrency

Cryptocurrency is the one for which blockchain technology was invented. Bitcoin is best- known example of cryptocurrency. Cryptocurrency or bitcoin was in a bear market since long so people are now wondering if cryptocurrency is now a working product of blockchain, yes cryptocurrency is a working product of blockchain, bitcoin market was up in May 2019 and continues to remain up.

There are many Cryptocurrency Trading Platforms who allow an individual to trade cryptocurrency and exchange cryptocurrency without any transactional fees. The platforms are safe and secured. Bitcoin value as on 9 May 2019 was $6,082.05.

Bancor

Bancor is decentralized liquidity network that allows cross-chain cryptocurrency conversion that lets you convert between Ethereum and EOS tokens without the need of middleman or third party.

Bancor has announced a new wallet that allows you to cross chain token trading between Ethereum and EOS. Bancor’s dApp is for trading between ethereum and EOS, it is one of the most used dApps on ethereum blockchain. Initially, BancorX users have to go through multiple processes while converting between ethereum and EOS token, but now bancor wallet has turned the process into single user action.

Golem

Golem is a supercomputer which optimizes the usage of all the computers which are interlink with it. You as an individual can rent your computer to Golem and Golem will pay you in Golem Cryptocurrency. Golem allows a user to sell and buy unused CPU to others.

Golem is an “Airbnb of Computers” if you think your computer is idle since long you can give it golem; golem will use your computers and will pay you how AirBnB do for flats. Golem has launched its new project called Brass Golem Beta 0.19.0 on Feb 20, 2019.

Author Bio:

Poul Thyregod is the CEO & Board member of Evonax, the Online Cryptocurrency Exchange Platform. He is responsible for strategy, administration, and marketing. Poul is one happy early e-commerce adopter and has comprehensive experience with optimizing online business through his background as founder and investor in several online companies in Scandinavia.

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