. IOTA is the first DAG-based cryptocurrency project, that aims to eliminate the concept of a miner’s fees. IOTA initially designed to serve as a backbone for the Internet of Things( IoT), but later its features are utilized for other endless use cases.
And it's not only Bitcoin that's growing. The second-largest cryptocurrency, crypto Ethereum, now has a market cap larger than $45 billion while the third in line, a fork of Bitcoin called Bitcoin Cash, has a market cap over $26 billion. The market cap of all cryptocurrencies combined crossed the $300 billion threshold on Monday, with all 10 largest cryptocurrencies rising in value significantly.
My neighbor has never sold crypto and used his exchange to buy dollars (or CR colones) to deposit back in his bank account. That is, it is easy to get electronic fiat money (bank deposits) "into" your crypto wallet but it is another thing to get the money back "out". But most accept bank deposits and everybody accepts fiat cash money, dollars or colones. To pay your utilities or bitcoin buy food and other stuff here you have to pay with either dollars or colones, either in cash or bank deposits (by debit card or online banking). Almost nobody who sells the things you need for day to day life accepts payment in crypto.
Bitcoin's hype is considered as Blockchain 1.0 and when ethereum created a boom in building decentralized applications Ethereum was termed as Blockchain 2.0. DAG proves to be the one that may be named as Blockchain 3.0. As of now, the market is expecting for the best that suits the name Blockchain 3.0. Even though Blockchain was introduced in 2008 by Satoshi Nakamoto, it started gaining popularity only after 2015.
There are only a handful of exchanges that operate legally in Costa Rica. About a year ago I looked into crypto. Several of them are very shady looking with headquarters in Caribbean gangsta countries. I got a wallet (easy and free) and looked for an exchange where I could use my bank account to buy crypto to put in my wallet. I began the process of opening an account with the least shady looking and discovered that to open an account requires providing the semi-shady crypto exchange with ALL of the same very invasive personal and financial information that you need to satisfy the "Know Your Client" (Conozca a su Cliente) requirements for opening a bank account.
The whole process of transactions on the DAG network is much faster than those of blockchains that are based on PoW and PoS. As DAG has blockless nature, the transactions run directly into the networks which make for quicker transactions.
The buy back& burn process will end when the total circulating supply of the coin is 10 Million ERK. The Eureka blockchain not only uses a Proof of Stake consensus mechanism which insures efficient scalability, it also allows other tokens/sidechains to use independent proof of stake networks on top of Eureka giving them full power to secure their own ecosystems independently and in a completely decentralized way.The development company helps the stability of the price of ERK with its buy back & burn plan. Eureka Coin (ERK) is the native coin of the Eureka Blockchain, a state of the art decentralized distributed ledger that combines the best features of Blockchain technology to date and offers a unique framework for a worldwide network of decentralized consensus.
EurekaCoin will be used as a base coin in EurekaDEX. 10% of the profits generated from this exchange will go towards the buying back and burning of Eureka Coin. In the second half of 2020 the Eureka Network will release its own built-in decentralized exchange, EurekaDEX, which will allow all tokens built on top of the Eureka Blockchain to be traded in a completely decentralized peer to peer way.
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The Eureka Blockchain is built to be able to host innovative Blockchain implementations and practical DeFi solutions for worldwide use. The smooth scalability that Eureka allows makes it possible to develop complex independent ecosystems on-chain as well as through side-chains. By the time the Eureka Blockchain is widely used worldwide the development company will launch prepaid cards denominated in ERK and a merchant API allowing Eureka Coin to be used by various businesses throughout the world as a means of payment. Every single transaction that takes place on the Eureka Blockchain burns some Eureka Coins (ERK) out of circulation. The Eureka Network is a user-friendly open-source development framework to deploy any type of decentralized applications & it is built to allow other projects to create tokens & ecosystems that can be secured using their own independent PoS networks. With theindependent PoS solution that the Eureka Blockchain allows thestakers of those projects get to be fully in control of their sidechains and their networks of nodes receive the staking rewards of that independent network. The Eureka Blockchain comes with a complete user-friendly infrastructure of wallets, full node and SPV clients, exchanges, etc.