Learn and Grow – AiBB Announces partnership With Blockgeeks

AiBB, the all-in-one application housing the tools and resources you need to enrich your knowledge, grow your portfolio and become a successful crypto trader, has announced partnership with Blockgeeks, the premier source for blockchain and cryptocurrency education.

Blockgeeks exhibits a wide catalogue of course materials related to cryptocurrency and blockchain that has continued to expand over time. Now access all of these materials for free right within the AiBB app itself.

Just log into the AiBB app on your phone and go to “Learn” and that’s basically it. You will see all course materials on the screen itself. There’s a search feature on top that you can use to search for the materials you want. It’s pretty easy and convenient to use.

Kelghe D’Cruz, the CEO of AiBB said, “We are trying to bring the knowledge of decentralized currency to everyone. And I believe this small step is going to help our users a lot in future.”

About AiBB

AiBB is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. This all-in-one application houses the tools and resources you require to enrich your knowledge, grow your portfolio and become a successful trader.

We’re always aiming to make AiBB secure and feature-packed. To make sure you don’t miss a thing, simply keep your updates turned on.

All 21 million Bitcoins are mined – what will happen after that?

Bitcoin is similar to gold in several ways. Like gold, they cannot be created in an arbitrary way.

In fact, only 21 million bitcoins can exist on this planet. Once miners reach that number, the world’s supply will essentially be depleted, unless the bitcoin protocol is changed to allow more supply.

With the first 18 million bitcoins mined in just a decade, and with just 3 million more coins to go, it may seem like the final number is not too far away. True, but only in a certain sense. The BTC network is more complicated than that.

BTC mining awards

The BTC mining process that rewards miners with bitcoin pieces upon successful verification of a block adapts over time. When Bitcoin was first launched, the reward was 50 BTCs. A few years later, in 2012, it halved to 25 BTCs. In 2016, it again halved to 12.5 BTCs. 

In 2020, the reward will again decrease to 6.25 BTC. It will continue to halve every four years or so until the final bitcoin is mined. This means that the reward for miners is getting smaller and smaller over time, and it also takes longer to reach the final bitcoin than it seems based on the pace so far. In reality, it is unlikely that the final bitcoin will be mined before around 2140, unless the bitcoin network protocol is changed by then.

Effects of Bitcoin over offer on Bitcoin miners

It may seem that the group of people most directly affected by the bitcoin supply limit will be the bitcoin miners themselves. On the one hand, there are critics of the protocol who say that miners will be forced to withdraw from the overall rewards they receive for their work once the supply of bitcoins reaches $ 21 million in circulation.

Without the incentive provided by a bitcoin price at the end of a rigorous and costly mining process, miners will not be forced to continue supporting the network. Because mining is not only a process by which new tokens are introduced into the ecosystem, but above all it is the way in which the decentralized blockchain is taken care of and maintained in the absence of a central bank or another single authority, if the miners give up their work the network will probably move towards centralization or will collapse completely.

Even when the latest bitcoin has been produced, miners will likely continue to participate actively and competitively and to validate new transactions. The reason is that each bitcoin transaction is associated with small transaction fees. These fees, although they now represent a few hundred dollars per block, could potentially reach several thousand dollars or more per block as the number of transactions on the blockchain increases and the price of bitcoin increases. Ultimately, it will operate as a closed economy where transaction costs are valued like taxes.

However, it should be noted that it will take well over 100 years before the bitcoin network mines its last token. It is also important to note that the bitcoin network itself is likely to change considerably by then. 

Given what has happened to bitcoin in just a decade, hard forks, new protocols, new methods of recording and processing transactions, and a number of other factors can impact the process. extraction.

Keep your bitcoins safe on the AiBB wallet

AiBB is a multi-protocol utility portfolio that combines the power of decentralized and centralized technologies in a simple and secure mobile application. Download the app here.

Is Ransomware Playing A Major Role In Driving Up The Price Of Bitcoins?

It is no secret that Bitcoin and other cryptocurrencies have played a huge role in cybercrime. We also believe that the opposite could also be true: cybercrime, including ransomware, has helped in boosting the cryptocurrency economy and increasing the value of Bitcoins.

Ransomware attacks have always been a problem beyond the shutdown of local services and state services. Emisoft, a cybersecurity company, also estimates that the value of bitcoin – used in 98% of all ransomware payments in the first quarter of 2019 – is reinforced by such attacks.

 

What is Ransomware?

Ransomware is a type of malware that encrypts a victim’s files. To regain access to the files, the victim must pay a ransom that can range from a few hundred dollars for home users to hundreds of thousands of dollars for large corporations and public entities.

The ransom is usually paid in cryptocurrency, and this cryptocurrency is usually bitcoin.

Why Bitcoins?

Bitcoin has become the preferred method of ransomware transaction for several reasons:

  1. Accessibility: You can easily buy bitcoins through an exchange with a debit card, credit card, or a bank transfer. The ease of use increases the risk of victims paying a ransom.
  2. Verifiable: All bitcoin transactions are documented openly on the blockchain, allowing cybercriminals to verify that a payment has been made.
  3. Anonymity: Bitcoin is not the most private cryptocurrency, but tumbler and mixer services allow criminals to launder ransom payments, thus, hiding their identities.

More the demand, more the value

Security experts and law enforcement officials generally advise against paying a ransom. Not only is there no guarantee that an organization will be able to recover its files after paying, but it will also perpetuate the ransomware cycle. The payment of the ransom proves to cybercriminals that ransomware attacks are profitable, which could increase the number in the future.

Despite these recommendations, no less than 45% of the organizations victimized by ransomware software have chosen to pay the ransom. To pay the ransom, companies must acquire Bitcoin, which increases the demand significantly. And, in accordance with the guiding principles of the basic economy, the greater the market demand for Bitcoin, the higher its value.

Alan Woodward, a cybersecurity professor, believes that ransomware may have played a role, but the price of bitcoin is so volatile that several factors can be combined. One of these factors could be that companies expecting a ransomware attack would have bought bitcoin in preparation.

A considerable number of companies accumulate bitcoins in case they are victims of ransomware and need to pay a request. It would seem logical that the higher the demands and the more high-profile cases, the more companies will start buying. We think this explains the rise in prices, rather than the ransom demands themselves.

According to reports, the United States currently holds the lion’s share of the attacks with 53%, and now that cybercriminals are turning to higher calibre targets, more and more companies could start buying bitcoins, will, of course, affect their price.

This news is brought to you by AiBB – It is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. Download the app here.