At its heart, money is a social construct.

 In the past, people have made and used money to purchase goods and services. But what happens when those purchasing power is scattered across a number of different institutions? What happens when we can do 

without banks and trust other sources to handle our financial transactions

? And what happens when new technologies become available that could 

? These are some of the questions that will be answered in this article.

The Bitcoin architecture and its technology 🔗

The amount of money in circulation is controlled by central banks, authorities that regulate monetary policy and determine how many dollars will be printed.

 As a result, the value of one dollar or other currencies fluctuates. The money supply is also kept track of by financial institutions that keep track of and process transactions.

The banks charge transaction fees in addition to interest rates on loans

, which may be said to be a tax on money. A third issue that creates inefficiencies in the current monetary system is the lack of privacy associated with payments. The flow of money may be tracked as it goes from one person to another.

New technologies have been developed to address these inefficiencies. 

, which is an example of a new type of currency called cryptocurrency. The name “cryptocurrency” refers to the fact that such currencies use cryptography to 

 that has been decentralized so that it can be used by individuals and businesses around the world in a way that does not require intermediaries such as banks.

Centralization and Decentralization in the Bitcoin Ecosystem 🤝

Centralization and decentralization are concepts used to describe the degree to which various activities are controlled by one organization or one computer system

, or are spread out over several organizations or computer systems. They are important concepts in the study of computer networks, economic systems, and many other social systems.

Because modern internet technologies, such as Google and Facebook, are centralized. This means that you need to 

trust those organisations with your data and that you are at their mercy if they decide to shut down their services

 the network is controlled by a vast network of computers all around the world. Nobody has the ability to shut down the network, because the network is distributed across thousands of computers.

Bitcoin is a decentralized network, which means that there is 

no central management entity or government

. However, there is a wide array of organizations that are responsible for making decisions about how the Bitcoin technology should be developed. This is done in a decentralized way, where the members of these organizations decide what changes should be made to the Bitcoin technology through democratic voting.

 The changes that have been made to the Bitcoin technology over time have been made in order to improve the privacy, security, and scalability of the system

➢ Users can transact with each other using Bitcoin

. These transactions can be as simple as one person paying another person for goods or services. Transactions can also include the exchange of bitcoins between different digital “wallets,” which are virtual wallets that hold bitcoins like physical wallets hold cash.

➢ Users can also create and trade new types of digital tokens known as cryptocurrencies

. These tokens, which can be exchanged for bitcoins and other currencies, can be used to incentivize people or organizations to do work, such as create new products or services. Bitcoin can also be used to send money to people around the world, 

outside the control of governments or financial institutions

. Massive numbers of people in less developed countries are currently shut out of the global financial system. Bitcoin can help them gain access to these services.

Any new technology, whether a product or a social network, will have 

. Bitcoin has proven to be useful and valuable, but it has also had problems.

Since Bitcoin is a decentralized network, there is no single person or team that can be held accountable for fixing problems. Rather, solutions to problems must be agreed upon and implemented 

difficult to reach a consensus on what changes should be made and how the changes should be implemented

. As a result, it has taken some time for problems in Bitcoin to be addressed.

This article has examined the architecture, technology, and governance of Bitcoin, as well as its uses and risks. Bitcoin is a decentralized network that tracks transactions and provides privacy using cryptography.

This decentralized network is governed by a wide array of organizations that make decisions on how to improve the technology. Bitcoin has proven to be useful and valuable, but it has also had problems. As these problems are addressed, the technology will become more robust and useful to a greater number of people.

 If you liked it, make sure to share it with friends or on Twitter ! And see you soon for another topic :)

Michael Spot

Bitcoin: Economics, Technology and Governance

Does this sound like a lot of buzzwords to you?

 Well, it's "the future". The next generation of blockchains. And I'm here today to tell you about it. Don't believe me? Well, let me "convince" you by explaining what Layers 3 Blockchains are, and how they can help your business in the future. Dealing with layers 3 is a hard thing. But let's make it simple together.

I tried to popularize the concept the best I could. I probably made some errors, if so, 

contact me to complete / correct the article. Thanks !

Ready to discover Layer 3 blockchains ? Let's go !

What are Layer 0, 1 and 2 blockchain : a recap 😃

In this section, let's recap the concepts of layer 0, 1 and 2 blockchains so that anyone can understand them easily !

Layer 0: The physical layer (the hardware)

The physical layer (also known as layer zero) refers to all of the 

hardware involved in running a blockchain network

. This includes computers, smartphones, tablets and any other device capable of running software code. The physical layer is also where miners’ machines are located when they are mining for new blocks on behalf of their clients.

Layer 1: The protocol layer (the software)

The protocol layer is defined by all of the 

software code used to run a cryptocurrency network or blockchain platform such as Bitcoin or Ethereum

. It includes things like operating systems like Windows or Linux as well as applications such as browsers like Google Chrome or Mozilla Firefox that facilitate access to websites over the Internet (which is also considered part of Layer 1). The protocol layer is the most visible part of a cryptocurrency network.

 It’s what people think about when they imagine “the blockchain.”

 The protocol layer can also be thought of as the operating system for blockchains.

Layer 2 networks are built on top of existing blockchains, such as Bitcoin and Ethereum, to 

. They are designed to provide users with greater privacy and scalability by moving some transactions off the underlying blockchain onto these secondary systems.

The main benefit of layer 2 solutions is that they can significantly

 increase the number of transactions that can be processed in a given period of time without slowing down the underlying blockchain

. This allows them to handle large volumes of transactions without requiring significant changes or upgrades to the underlying blockchain itself. Ethereum 2.0, for instance, will be a Layer 2.

The limitations of current blockchain systems 🙁

The main problem with layer 2 blockchains is their versatility.

 They can host any kind of decentralized application, from non-fungible token platforms like OpenSea to decentralized exchanges like Uniswap.

Although this is useful for users, it has several drawbacks. The most significant one is 

. Because layer 2 blockchains are fast and cheap, they attract layer 1 regulars as well as new users who are looking for a faster and cheaper solution. In addition to the large number of new users who want to use the blockchain, new protocols come from around the world who want to implement without having to pay expensive costs on layer 1.

This layer 2 congestion is particularly bad during trends—when "Play-to-Earn" applications (or video games in which players are paid to play), 

, they experienced this problem immediately. The congestion was so bad that it caused the 

. In addition, the blockchain could not keep up with the number of transactions per second required by such applications, 

which led to long wait times and downtime

. And that's not what every crypto user wants.

Why is fractality important : the layer 3 solution 💡

The concept of fractality is at the heart of the layer 3 solution

. Fractality is a property found in nature. It helps us understand the structure of complex systems, from the way that a river meanders to how plants grow from seeds. It is a phenomenon that occurs at all scales.

Fractal geometry is based on repeating patterns

, which are not necessarily self-similar. Self-similarity means that an element can be divided into smaller and smaller copies of itself, but these smaller copies are identical to each other as well as being identical to the original element.

 example of self-similarity is a snowflake

 — every part of it looks exactly like any other part (and it also looks very similar to many other snowflakes). An example of non-self-similarity would be a tree trunk — each branch could be split into smaller branches but they would not look exactly alike or identical to each other or to the original branch (i.e., they would not be self-similar).

Layer 3 is a term used in the blockchain space to describe a 

new class of networks that build on top of existing blockchains

specific use cases and are optimized for that purpose

. For example, layer 1 blockchains (like Bitcoin or Ethereum) are designed to be used as digital cash and store value. Layer 2 blockchains (like Lightning Network or Plasma) allow us to scale these networks by using them as payment channels between users, while still being able to settle on the underlying layer 1 chain at any time.

While these layers have been extremely successful at solving problems associated with scalability, they do not provide all the benefits that we might need from our blockchain infrastructure in other use cases

. For example, if you want to develop an application that needs to store data permanently but still be flexible enough to allow you to change its configuration over time; this is not possible with current layer 1 and 2 solutions (or too complicated).

The solution? Layer 3 blockchains! These new networks will be optimized for different use cases than layer 1/2 blockchains, 

allowing developers to build applications that cannot be built today on top of existing chains

Quant Network, a well-known example among layer 3 blockchain technologies, offers 

multi-ledger tokens and multi-DLT smart contracts through its Overledger protocol

. Quant is one of the first companies that created an ecosystem for cross-chain communication with its Overledger protocol.

 A layer 2 scaling solution – Overledger

Overledger is a layer 2 scaling solution that enables

 interoperability between blockchains and other private and public networks

. It connects every blockchain, enterprise system, mobile application, and device to the same global hyper-fast data network.

 This unlocks a world of possibilities for decentralized applications (dApps) built on top of Overledger

Plus, the layer 3 protocol has partnered with well-known companies including 

 A lot of people are talking about blockchain scalability.

 I think we’re on the verge of a major breakthrough.

 I believe that we can build blockchains that scale linearly with the number of nodes, and do so without sacrificing decentralization or security.

The problem with most blockchain solutions is that they are designed to have every node process every transaction. This results in 

huge bottlenecks when there are more transactions than there are nodes willing to process them.

The solution of layer 3 blockchains is to 

, that allow these types of blockchain to be really scalable, because they are ready for certain types of actions. But others solutions exist, such as 

, which have others solutions to be more scalable in every situation.

If we want blockchains to be scalable, we need to think outside of the box.

It was long to write, and there might be some errors. That's why I recommend that you 

It's important to stay curious and to learn more about the new technologies that are implemented in the crypto field. 

Stay curious, and see you soon for others articles !

Layer 3 blockchains : "not only is it the future, but it's the present"

Beautiful illustration from Be Street Smart Glendale on Behance !

Blockchain has been around for almost a decade yet most people don't really know much about it

. And some words seem weird or strange, acronym no one understand.

Today, let's talk about KYC and AML, taht are 

buzzwords thrown around by compliance departments

What exactly do they mean? What do they entail? And why should you even care? I'm here to help with answers to these questions and the big picture! Ready ? Let's go !

Cryptocurrencies and the blockchain technology that it is based on are still very new to most people. But as more individuals, companies, and even governments begin to adopt this new type of technology into their daily lives, there are some questions that will have to be addressed. One of the most pressing issues at the forefront of people's minds when talking about cryptocurrencies is 

identification process of a client's identity and status within a business

. It's why you might have been asked to provide identification and proof of address to receive a parcel delivery or pre-order any products online. This kind of due diligence process is carried out for financial services companies as part of money laundering prevention measures.

AML is a set of regulatory requirements developed to detect and deter money laundering and the financing of terrorist activities

. The regulations impose internal controls on businesses so that they are able to establish customer identities, monitor effectively the activities of customers and report suspicious transactions.

To go deeper, computers make it easier to track and trace financial transactions than ever before. But, with great power comes great responsibility, and this is something AML professionals don't forget. Compliance with the AML laws is something that is vital for most financial organizations. The people who work in compliance are called

 and their main task is to make sure financial institutions have adequate processes in place to prevent money laundering activities, such as the financing of terrorism.

. Both terms belong to the bigger block of concepts that are known collectively as compliance . And both functions were created for a reason. Both acronyms are well established in financial sector and by now, probably anyone has heard about them.

 If you want precisions, here is a schema of the differences from Shuftipro.

Conclusion: we all have a role to play in helping combat money laundering 💭

If we all took a step back, my guess is that the cryptocurrency industry would be larger than it is today. It's clear 

money laundering is going to go on no matter what

, so perhaps we should make it easier for law enforcement agencies to combat money laundering. And maybe some day, the cryptocurrency industry will be bigger and more decentralized – 

with more hands in the pot working together to fight this major issue

Hope you liked it, and if so, make sure to share it on Twitter ! Do you own research, and see you soon for others articles !

KYC and AML definitions, the big picture

If you've already had a conversation with a friend in the crypto field, it's likely that you've heard the name 

Binance even if you don't completely understand what they do

. This is because the exchange has become well-known as one of the most important players in the cryptocurrency world and its significant rise in popularity over the past year has put it at the center of attention.

, and how it intends to rise its reputation through the next few years. Let's go !

Binance and its influence in the crypto industry 👑

 Binance, a cryptocurrency exchange platform that operates in Malta and Japan, is the largest in terms of volume. In the last 24 hours, 

$59.5 billion worth of cryptocurrencies were traded on Binance !

The exchange has been growing rapidly since it was launched by 

, in 2017. It’s currently one of the most popular destinations for cryptocurrency traders because it offers low fees and fast transaction times. It also has a wide range of coins available for trading — 

Binance’s influence on cryptocurrencies and blockchain technology is massive. It’s as if every other cryptocurrency exchange has been built around Binance’s model; 

most exchanges have copied its features or at least tried to do so

billions of dollars in profit each year from trading fees

 alone and will continue to grow until something happens to change the way cryptocurrencies are traded online forever.

BUSD became one of the main players in the stablecoin industry 📍

BUSD is one of the most important stablecoins in the crypto market.

 It has become one of the main players that can compete with USDT and GUSD.

As a stablecoin, BUSD is likely to be used by investors who want to get their hands on cryptocurrencies without having to worry about their value dropping dramatically overnight.

But the Binance platform allows users to trade 

 as well as other fiat currencies such as EUR or GBP. This means that you will be able to buy Bitcoin (BTC) using your credit card and then convert it into another cryptocurrency such as Ethereum (ETH) or Litecoin (LTC).

In order to make things easier for new users and help them get started with their trading journey, Binance has created its own stable coin called BUSD (Binance US Dollar). 

This is a cryptocurrency that is pegged at a 1:1 ratio with USDT but also comes with some additional benefits for investors

Binance Coin (BNB), a strong crypto even in 2022 ! 🎈

The BNB token is used as an incentive to use their platform, but it also acts as a currency that can be traded on the platform. It has been used as a stable coin since its launch and has proven itself to be very useful.

The main reason why BNB has been so popular is because it's been used as an incentive to use their platform. 

People who hold BNB get discounts on trading fees, which can be up to 25%

. This means that if you're holding BNB, you'll get 25% off your trading fees when trading with them! This makes it very appealing to use their platform over other exchanges because you could save yourself some money while doing so!

Another reason why BNB is such a strong cryptocurrency is because it 

was created by the founder of Binance himself, Changpeng Zhao (CZ)

. CZ was able to create this new coin by using his experience from working at OKCoin and Bitfinex, two of the biggest exchanges at that time. He wanted something similar but better than both exchanges combined so he came up with Binance!

Binance Launchpad and its “Boom” 📈

platform for upcoming tokens to gain exposure

. It was launched in June 2019 and has helped many cryptocurrencies get their first listing on Binance.

The token sale process on Binance Launchpad has been streamlined and made easy for buyers by Binance themselves. The launchpad is divided into two stages; pre-token sale and main token sale. The pre-token sale stage allows investors to purchase tokens before the main sale begins, 

The main token sale then opens after the pre-token sale has ended, with no discounts available. This enables investors to buy large amounts of tokens at a cheaper rate than they would be able to when buying during the main token sale stage.

Binance Launchpad also offers an ICO advisory service, which helps blockchain companies raise funds through an I

. This service includes assistance with marketing campaigns, legal advice, technical audits, compliance procedures and other services that are required by law before starting an ICO campaign.

What makes this exchange so popular? 🤨

it offers a very easy way to enter the crypto world and start trading cryptocurrencies at low fees with high liquidity

. Another great feature is its native token BNB which provides discounts on trading fees when used instead of BTC or ETH as payment currency (up to 50%).

Binance also offers something called 'Community Coin Voting' where users can vote for new tokens to be added to the exchange or get listed on other exchanges as well as voting for new features like 

. This mechanism allows users to participate in deciding which coins should be added next in order to increase trade volume and attract new customers through their voting power. Binance also offers a 

mobile app for both Android and iOS devices which makes it easy to trade on the go

. This exchange is considered one of the best cryptocurrency trading platforms in terms of security, features, and ease of use.

, and it seems that they are not slowing down. The company is one of the most important platforms in the world of cryptocurrency. They have been able to become a leader in this field by offering their users very good services and products. 

The company uses innovative solutions to offer its users with a great experience

The future of Binance is still very bright and it seems that they will continue to grow in the years to come. This is one of the reasons why so many people are interested in investing in cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).

 They want to be part of this revolution, which promises to change our lives forever !

If you liked it, make sure to share it with friends, or even write about it on Twitter ! And see you soon for others articles !

How Binance intends to confirm its reputation in the coming years

I've always been interested in computers and software

, but my knowledge of cryptography was limited to the types of encryption that keep your credit card number safe when you buy something online.

Then I started to use a blockchain, the Bitcoin one, and then Ethereum, and from one blockchain to another, I though 

"why don't I create a little Dapp myself?"

. After hours of researchs, I had a problem : how could I pay for all the gas fees for just a test Dapp that I wanted ?

Today, let's talk about how testnets are important to the crypto-space, and how it could evolve in a much more efficient tool. 

In my articles, we always start with the basics, 

just to be sure everyone is on the same page

A testnet is a blockchain that is developed for testing purposes.

 It can be used to experiment with new features and applications without having to use real money.

Most of the cryptocurrencies have their own Testnets where you can 

try out new things without risking any actual money

. The testnet coins are usually different from the main coin in terms of value, but they can be exchanged for each other on exchanges if you want to invest in them.

The most notable use case for testnets is when developers want to test a 

new feature before it is implemented into the mainnet

. For example, if you want to make sure that your new version of your cryptocurrency wallet works properly with your updated code, you would deploy it onto the testnet first so that you can 

The testnet is an alternative chain to the main network. It works exactly like a mainnet, with miners (for PoS). Let's take the example of Bitcoin, the first testnet to exist :

The two most popular types of testnets are:

 who provides the entire hashpower and pays a small fee for each transaction, usually around $0.05. This is useful if you want to quickly set up your own private blockchain with low latency, but it’s not very flexible if you want to use the same testnet for multiple purposes (such as testing different consensus algorithms).

 who provide their own hashpower, in proportion to their stake in the network (e.g. 1/10th of all blocks are mined by each miner). This is more flexible and better suited for real-world use cases, but it also has higher latency than “private” testnets because every block must be broadcasted to all miners first before being mined.

The central role of the testnet in crypto development

The testnet is the main reason why cryptocurrencies are so well suited for building applications.