What is DeFi – Decentralized Finance

DEFI is short for decentralized Finance. The basic concept of decentralized finance is to create all possible finance services that are normally available in banking system, however, in this case they are implemented as smart contracts with some level of decentralization.

What is Defi:

Have you ever heard about DeFi before? Are DeFi apps, the ultimate killer apps in the cryptocurrency space or just new bubble? No matter if you have never heard about DeFi before, or you just want to make sure you understand the concept. This article will simplify Decentralized Finance for you!

DEFI is short for decentralized Finance.  The basic concept of decentralized finance is to create all possible finance services that are normally available in banking system, however, in this case they are implemented as smart contracts with some level of decentralization.

Decentralized Finance is dubbed a revolutionary invention that aims at making a new financial system that is open to everyone and does not require trusting intermediaries like banks to achieve that.  The decentralised finance relies on cryptography, blockchain and smart contracts. Smart contracts are the main building blocks of Decentralized Finance.  Majority of DeFi projects are built on Ethereum, which uses a robust programming language called solidity. Solidity allow developers to write advanced programs for their smart contacts to enable the DeFi apps.

When it all started!

The first decentralised finance project was created in 2015, called maker DAO. Maker allows the users to stack cryptocurrencies by locking them in a smart contract as collateral an instant loan would be created. One may decide to lock their crypto to provide liquidity and in return they get rewarded in DAO for the duration of term. This process has recreated the most crucial aspect of the mainstream financial system, that is, lending & borrowing. The system is decentralised, and you do not need permission to participate or get loan. Anyone, from anywhere in the world can access the system.

Other DeFi projects:

Compound – is one of the largest players in the space. At this stage there is almost $900 million worth of assets locked in the compound protocol. The users can provide liquidity through supplying the protocol with crypto assets such as ether, tether etc and start making interest on their assets.

Compound - is one of the largest defi protocol with $900 million worth of assets locked

AaVe is another popular Decentralized Finance project that uses a smart contract to provide incentives for providing liquidity and issue USD stable coins. Other DeFi projects in this space are nexus mutual and opyn.

Oracle services are also considered as part of the ecosystem as these endeavours to deliver reliable data feeds from the outside world into the smart contracts, for example Chain-Link.

DeFi is censorship resistant and unlike the existing centralized financial institutions, anyone can be banked! DeFi also cuts out the middleman (the Banker), hence provides cheaper finance options.

Bitcoin Halving What to expect after the halving process

What is a Bitcoin halving?
When will be bitcoin halving
Frequently asked questions

Every Bitcoin enthusiast is anticipating for the upcoming event called bitcoin having. This event happens every 4 years and it is when the Bitcoin block reduces to 50%. Effectively this having process will result in the slashing of the rewards the miners receive from mining bitcoins

However, this is not all doom and gloom for miners, because historically the having phenomenon has led to all time highs in bitcoin prices and investors anticipate that this will also be the case after the upcoming halving.

Bitcoin halving price prediction

Bitcoin may be forced to jump from 8k to 10k prior to halving and then have a painful correction for the weak hands. The drop may go for a few days to months before bitcoin catapults into all-time highs.


Bitcoin halving dates history

First halving was November 28, 2012. Block reward dropped from 50 bitcoins to 25 bitcoins

Second having was July 9 2016. Block reward dropped from 25 bitcoins to 12.5 bitcoins

Next halving will be 12 May 2020. Block reward is expected to drop from 12.5 bitcoins to 6.25 bitcoins

Bitcoin Halving Countdown

Frequently Asked Questions (FAQ)

What is a Bitcoin halving?

From inception, the bitcoin network was issuing 50 Bitcoins every 10 mins. Four years on the network reduced to 25 bitcoins every 10mins and the most recent one 4 years ago saw bitcoin network reducing the issuing to 12.5. Therefore, we gather that the network is programmed to halve the rewards every four years. New bitcoins are issued by the Bitcoin network every 10 minutes. The upcoming halving will see a drop from 12.5 bitcoins to 6.25 bitcoins.

What will happen after Bitcoin halving?

Bitcoin having is when the number of bitcoins created per block reduces by 50 percent.
In a normal economic environment, any reduction in supply will result in the increase in price of the commodity. If the bitcoin markets response to the supply curve we are likely to see bitcoin price increase its value by at least the factor of 2.

What date is Bitcoin halving?

The Bitcoin halving is estimated to occur on the 12th May 2020. The experts have come up with the date from their calculations that bitcoin block will reach 630000 by this date. However, halving is not linked to any date it happens when the block size reaches 210,000 blocks

Does Bitcoin halving affect Altcoins?

Simple answer is Yes, this is because most altcoins respond heavily to any movement in bitcoin price and if bitcoin rockets upwards so will majority of altcoins.

What will bitcoin be worth in 2020?

Bitcoin is currently worth around 8,000usd. No one knows for sure how much it will be after the halving, but my best guess will be way higher than $8000. There may be a time after halving when the bitcoin will drop significantly, however, in my opinion the low prices will be short lived.

How many Bitcoins are left?

There are almost 2,6 million Bitcoins left to be mined into circulation. The maximum number of bitcoins in existence is only 21 million Bitcoins and the amount in current circulation is 18,4 Million that leaves only 2.6 million.

Is it a good time to buy Bitcoin?

It is never been a good time to buy bitcoin than now. However, I would advise you to seek your own financial advice because there is risk in any form of investing and bitcoin is not immune.

Quiztok (QTCON) – A messenger chat-bot for quiz

What is QTCON

Where to buy QTCON

Who created QTCON

What is Quiztok (QTCON)?

  • Quiztok is a service based on a social media instant message chatbot. It generates quiz on messengers such as telegram when you use quiztok to add them as your friends.
  • You can easily create and customize your quiz using a clean interactive user interface

Quiztok is designed to disrupt the mobile marketing industry with its inbuilt function for users to create quiz with sponsoring options, donations and more.

Where to buy Quiztok?

The token is available for purchase on Coinone and the current price is shown below

Who created Quiztok?

The token was developed by a Japanese team at Quiztok Co Ltd and below is the list of founders:

  • Jeon Changsub – CEO
  • Hwang Sehoon – Head of Japanese Business
  • Lee Keunwoo – Vice President
  • Yang Jongil, Jang Wonjun, Kim Dogwoo, Kim Seonwoong, Han Kyunghyun (developer team)
What is Quiztok?

Quiztok is chatbot system that create quizes for messenger services such as telegram etc.

Where to buy Quiztok

You can buy this token on an exchange called COINONE

Who created Quiztok

The token was created by Japanese developers at Quiztok Co. Ltd

SPICE Token, A BCH Simple Ledger Protocol Appreciation Token

Spice is a token created on the simple ledger protocol (SLP). It is dubbed an appreciation token. Spice is popular within the Bitcoin Cash (BCH) blockchain community.

Spice is named an appreciation token because of its primary function being for tipping others on social media. It is part of the larger Social Tipping Platform and it utilises a bot called spicebot. All the content that has been tipped using Spice is aggregated through a Spicefeed that distributes across major social networks.

How to accumulate and distribute SPICE token?

Spice is distributed through a Proof Of Fen (pof). When you tip someone with spice and put pof on the suffix of your tip, and they tip someone more than you tip, the person you tip receives the highest score on the pof scale. The image below illustrates how it works:

screenshot from SPICE official site
screenshot from SPICE official site

To withdraw spice tokens, you only need to type “Withdraw (put amount you wish to withdraw) [put you Bitcoin Cash Simple Ledger Protocol address]”
eg: withdraw 200 simpleledger:qzxxxxxxxxxxxx
This process will convert SPICE social media points to SPICE simple ledger Tokens.


What is SPICE token?

SPICE is an appreciation token build on a single ledger protocol. This token is famous within the BCH community.

What do you use SPICE for?

SPICE can be used to pay tip to someone you like or enjoy their content and works on major social media platforms. To learn more about SPICE, visit the BCH community.

How cool is the BCH community?

BCH community can be considered a very cool community of like-minded people who are strong believers in the power of cryptocurrencies.

Who created SPICE?

SPICE was created by Spicetoshi. We are still investigating who this Spicetoshi is, but if we hang around the BCH community long enough we will soon know who this person or group of people are.

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