What is EOT mining?

One of the most fascinating things about EOT and cryptocurrency is the concept of mining.     When most people think of mining, we envisage men in hard hats going underground and digging up gold. EOT mining is a bit different but it does involve work. In this case the work involved is solving a complicated algorithm or mathematical puzzle.     Let’s take one step back. When an EOT transaction is initiated, this transaction needs to be confirmed as true and then needs to be added to the EOT…

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What is the EOT Blockchain?

  The EOT Blockchain is an immutable record of all EOT transactions, stored on a network of computers thus creating a distributed ledger of all transactions.     How Does the EOT Blockchain Work? When EOT started a first version of the record in the ledger was created and stored in what is block 1 or otherwise known as the Genesis block.   All information on the blockchain are stored in files which are encrypted, in the world of cryptocurrency, these files are known as wallets.   Every file/wallet has…

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What was the First Product to be Bought with EOT?

Cryptocurrency is becoming more popular as a peer to peer payment system and there is no doubt that adoption will increase over time.   The utility cryptocurrency, EOT, recorded the first sale in December 2017.       How does a payment work – A transfer of funds between two digital wallets is called a transaction and this transaction is submitted to a public ledger called the blockchain where it awaits confirmation.  When a transaction is made, wallets use an encrypted electronic signature to provide a mathematical proof that the transaction is…

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BitVault® introduced to FinTech community at London event

  Embedded Downloads officially introduced BitVault®, the world’s first blockchain phone and crypto communicator at an event on 31 October 2017.   The event was held at an exclusive London venue welcoming selected guests from the banking, fintech and corporate community to an evening of food, drinks, and entertainment.   The event was also attended by representatives of VVDN Technologies from India, the design and manufacturing partner for the BitVault®.   According to Embedded Downloads the product was well received and the company and BitVault® team had numerous follow up…

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Bitcoin News 13 October 2017 – Bitcoin Price Flirts with $6000 as Bitcoin Gold Nears

The Bitcoin news today with the latest bitcoin rally heading the news. An incredible surge in the price overnight which pushed to a new all-time high of over $5800. The proposed hard fork on 25 October (Bitcoin Gold), as well as the growing regulatory environment in many countries, could be a driving factor attracting more investors and thus, the price.   As reported by CNBC – “The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news “signals to investors and traders…

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Bitcoin News 11 October 2017 – Dubai Delivers Blockchain Strategy to Implementation

Bitcoin News Today and Dubai is leading globally in taking a blockchain strategy set out in 2016 to implementation by 2021 – with over a million records have been populated on the platform. The Dubai Land Department (DLD) system records all real estate contracts which include lease registrations. The system links them with the Dubai Electricity and Water Authority, the telecommunications system as well as holds personal tenant information, Emirates Identity Cards and the validity of residency visas for ease of remote payments.   Another milestone achievement for Smart Dubai…

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Pay University Fees with Bitcoin at Swiss University

The University of Lucerne, Switzerland, has joined a growing list of universities embracing Bitcoin and the Digital Economy.  Some universities offering courses in blockchain technology, while others are accepting Bitcoin as payment.   Full article here  Collect your FREE PDF – The Bitcoin Believers Business Manifesto Please leave your questions and comments below: What is EOT?  Learn more by clicking on the image BELOW   Introducing the World’s First Blockchain phone, the BitVault®   Download the FREE BIT-MEDIA APP below!

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Bitcoin News 1 October 2017 – Japan, Setting the Trend for Bitcoin

Bitcoin News Today and it is clear that Japan is dominating the Bitcoin Market and it is not going unnoticed. It is incredible to see that when a country takes the bold step to legalize Bitcoin and regulate associated enterprises as Japan did, businesses such as banks are able to get involved in the new economy legally. Japan’s Financial Services Agency (FSA) has issued operating licenses to 11 bitcoin exchanges, will a number of them still awaiting approval. In Japan, even the man in the street has an opportunity to…

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Bitcoin is a Bubble

Many have had their say over the past couple of weeks.  From Jamie Dimon (JP Morgan) slating Bitcoin and calling it a “FRAUD” to James Gorman, CEO of Morgan Stanley, recognizing that Bitcoin is “more than just a fad.”  Now Mike Novogratz, ex-hedge fund manager, formerly of the investment firm Fortress Investment Group says Bitcoin is the largest bubble we will see in our lifetimes.   An excerpt from Bloomberg article “A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever” “Remember, bubbles happen around things that fundamentally change…

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Another Bitcoin in the making?

Bitcoin, Bitcoin Cash and now Bitcoin Gold? Is this really happening? Interesting to note that a number of developers believe there will be more hard forks in the future which will create another “Bitcoin”.   Details are still a bit unclear, however, we are sure to hear more about this developing story.  Let’s keep our eyes on this.   Read in more detail here  Collect your FREE PDF – The Bitcoin Believers Business Manifesto Please leave your questions and comments below: What is EOT?  Learn more by clicking on the…

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