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Showing posts with label cryptocurrency. Show all posts
Showing posts with label cryptocurrency. Show all posts

January 7, 2018

tech trends which will define 2018


 


From Space tourism to electric cars and the rise of virtual reality,technology is  transforming  our worlds faster than we can imagine. It is said "You cannot predict the rain , but you can build an ark". 2018 will see the dawn of newer technology which only existed in the realms of science fiction movies just 10 years ago.

While 2017 has seen AI Bots,Machine Learning, 3D printing, AR and Blockchain starting to become more  relevant and mainstream 2018 will be a year when many of these newer  technologies like Cryptocurrency Blockchain, Electric Cars Virtual Reality will find more acceptance and become advanced.Here are some of the technology trends which will make a big impact in 2018. 

1)Artificial Intelligence comes of age: There are three broad reasons for AI’s phenomenal growth in the last two-three years. First is the rapid advancement in machine- and deep-learning algorithms. Second is the availability of humongous amounts of data (hence known as Big Data) on which these algorithms can be trained. Third is the dramatic increase in computing power that includes more efficient computer processing units and graphic processing units. 

The results are clearly visible. In December, Alphabet-owned AI firm DeepMind announced that its AlphaZero algorithm took just 4 hours to learn all chess rules and defeat the world’s strongest open-source chess engine, Stockfish.

AlphaZero, which was modelled on DeepMind’s AlphaGo Zero computer programme, vanquished a world-champion programme in each game of chess, shogi (Japanese chess) and the Chinese game, Go, within 24 hours. Since automation and AI are better than humans with routine tasks, it has understandably given rise to the fear that automation and AI will take away our jobs and become more intelligent than human beings. In his 2006 book, The Singularity Is Near: When Humans Transcend Biology, American author and futurist Ray Kurzweil forecast that AI would surpass humans. By 2099, he added, machines would have attained a legal status equal to that of humans

2)AR and VR will become communal experiences: Right now VR(Virtual reality) is an isolating experience.You can put on a headset and immerse yourself into an make believe world in a universe where you and your own self inhabit.Going forward VR will allow a more immersive experience with your surroundings. VR and AR ( Augmented Reality) will allow communities to experience the world together.We will get to play work and explore the world in the form of alternate realities and our reality distortion field will be all about larger sharing VR  experiences.

3)Big Data overload and privacy concerns  Today every company in the world has begun to mine big data on consumer habits and shopping behaviours.In 2018, data collection is going to become an even higher priority. With consumers increasingly talking to smart speakers throughout their day, and relying on unlimited digital devices for most of their daily tasks, companies will soon have access to—and start using—practically amounts of personal data. This has many implications, including reduced privacy, more personalized ads, and possibly more positive outcomes, such as better predictive algorithms in healthcare. To add to the problem, a lot of data has a lifespan. At some point in time, these data becomes outdated and its no longer longer relevant.But often it is held onto anyway in the mistaken belief that some day it might come in useful. It is important to remember also that collecting and storing data costs money - data requires storage, electricity to power it and, if the information is sensitive (including customer records) attention to be spent on security and data compliance. Of course, the problem becomes even bigger when we take into account the predicted growth in the data companies will produce: A recent article on Forbes predict a 4,300 percent increase in annual data production by 2020. 

3)Blockchain will increasingly become mainstream: One of the biggest technological trends in 2018 would be the rise and acceptance of blockchain.The rise of blockchain technology wont be just limited to cryptocurrency in 2018.Cryptocurrency will move into larger areas of governance.We have seen some amazing things in the cryptocurrency market in 2017 including the rise of the ICO where companies like Tezos raised almost 250 million, the "big 3" (Bitcoin, Litecoin, & Ethereum) have gained in the 1000%'s, and a massive explosion of interest in both the traditional financial markets as well as the consumer markets here in the in 2017. 

4)Electric cars: Self driving cars are still in the labs.So forget about them and start to embrace electric cars.In 2018 we are likely to see new electric cars promising ranges of 200 miles or more.In 2018 the Tesla Model 3 and the second generation of Nissan are set for release.Long term investment on petrol cars will also start declining. 

5)Smart Soundbars. Riding high on  the back of voice controlled speakers multi room audio looks all set to grow.While there  is an explosion in the hardware market , we are witnessing significant growth in premium multi room systems and smart soundbars in particular.Technavio’s market research predicts the global soundbar market to grow steadily at a CAGR of above 16% by 2021. One of the major factors driving growth in this market is the increasing number of smart homes.Many homes in developed nations such as the US and UK are being remodeled to smart homes.A smart home consists of media and entertainment gadgets, consumer electronic devices, and other smart electronics that can interact with each other through a home network.2018 is also likely to see more of Dolby Atmos and high resolution audio 




January 6, 2018

ripple and ethereum adds to the upheaval in the alt coin world


The virtual currency boom has got so heated that it is throwing some of the richest and most powerful people into disarray.At one point last week one of the founders of virtual currency who is also among the largest owners of Ripple tokens was worth more than $59billion.

Ethereum and Ripple two Bitcoin rivals jostled for attention during the  early days of 2018 cryptocurrency war   as it marked two records in the alt coin world: Ethereum's per-coin value broke $US1000 ($1276) and the rising value of Ripple supposedly boosted its co-founder Chris Larsen to an estimated net worth of $US59.9 ($76) billion.Riding in the digital currency's surge in the last few weeks, the co-founder and executive chairman of Ripple is now one of the five richest people in America. 

 Chris Larsen, co-founder and executive chairman of Ripple, has 5.19 billion of the company's digital coin XRP and a 17 percent stake in the company, according to Forbes, citing sources at Ripple. With XRP hitting a high of $3.84 on Thursday, Larsen's holdings are worth about $59.9 billion. That puts the former Ripple CEO just ahead of Larry Ellison, who ranked fifth on Forbes 400 list with a worth of $58.4 billion. Facebook CEO Mark Zuckerberg ranks fourth, with a worth of $74.4 billion. 

Despite a very real speculation bubble around cryptocurrency, these financial gains are mostly on paper and the two coins couldn't be more different.

While Ethereum bills itself as a blockchain app platform where transactions are used to pay for decentralised computing power,Ripple is the world's only enterprise blockchain solution for global payments. Ripple's core proposal is to facilitate fast, cheap transactions, mainly between banks, through a separate but related entity called Ripple Connect. The Ripple coin (XRP) exists independently in the hopes that banks will someday use it via Ripple Connect.

Ripple is a kind of  real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples)

Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.

Used by companies such as UniCredit, UBS and Santander, Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that "from banks' perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin," including price and security. 

On 1 Jan 2018, the market capitalisation of XRP was 87 billion USD, making it the second largest cryptocurrency by market cap Thanks to one digital currency's surge in the last few weeks, the co-founder and executive chairman of Ripple is now one of the five richest people in America.

Meanwhile according to CoinMarketCap, Ethereum currently has a market capitalisation of about $96 billion (£70.7bn).Unlike Bitcoin, Ethereum allows developers to build applications on its network. The majority of initial coin offerings and other trading games are based on Ethereum. Ethereum's particular blockchain technology means that the currency is more naturally resilient to cyberattacks.

The explosion in Ripple's valuation over the last few months is the starkest illustration yet of the mania that has spilled over into the broader universe of virtual currencies.These coins with names such  as Cardona, Stellar and Iota are generally new twists on Bitcoin Technology which uses a decentralised network of volunteer computers to keep a record, known as blockchain, of all technologies.

Cryptocurrency founders can often hold large amounts of the digital coins they create.The anonymous bitcoin founder known as "Satoshi Nakamoto" has 980,000 bitcoins, or about 4.7 percent of all bitcoins that will ever exist, based on widely accepted analysis by Sergio Demian Lerner. 

However Mr Chris Larsen's ballooning net worth and the value of Ripple tokens mostly drew comments about the irrationality of the virtual currency markets which appear to be driven largely these days by the feat of missing out (FOMO)




twins who sued zuckerberg becomes 1st bitcoin billionaires


 
The twin brothers who sued Mark Zuckerberg claiming he stole the idea for Facebook are worth more than $1bn after capitalising on the astonishing rise in Bitcoin. An $11m (£8m) bet on Bitcoin made by Tyler and Cameron Winklevoss over four years ago has multiplied by almost 10,000% after Bitcoin reached a new record breaking high in december 2017.This is believed to be the first billion-dollar return made by a cryptocurrency investor, a landmark moment for the twins who sued Mark Zuckerberg and claimed that Facebook's idea was originally theirs.

In 2009, the Winklevoss twins received a settlement from Facebook valued at more than $65 million.According to the Telegraph, Cameron and Tyler Winklevoss bought 1 percent of all currently mined bitcoin for a price of $11 million in 2013 with the lawsuit money received from Facebook. Since then, the $11 million crypto-bet has multiplied by almost 10,000 percent, making the twins the first bitcoin billionaires.

Seven years ago, the value of a single bitcoin was worth a quarter-of-a-cent. Today, that single bitcoin is worth upwards of $2,200.The twins used part of their settlement money to invest heavily in bitcoin.Bitcoin has grown exponentially since then: According to Fortune when the Winklevosses first invested, the cryptocurrency was trading at $120 per coin, a far jump from the more than $11,000 it has reached today. That's an increase of over 9,000 percent. 

In October 2015, the brothers launched Gemini, a bitcoin exchange described by the Financial Times as “one of the first regulated and licensed digital currency exchanges in the developed world. 

Interestingly the first bitcoin transaction was made by a software programmer on “Bitcoin Talk” known as Lazlo Hanyecz who offered to 10,000 bitcoins for a couple of pizzas. For the first three days, no one took him on his offer with Hanyecz writing: “So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?” A user eventually paid about $25 for two pizzas. In today’s bitcoins, those pizzas would have cost cost Hanyecz $22 million.