From its inception in 1998 to going live in 2009, Cryptocurrency is the symbol of the people’s rebellion against the untrustworthy Cabal of Banking giants that controlled the flow of wealth and shaped the events of the world with financial influence until then.
Why was Cryptocurrency created?
Bitcoin was created and unleashed upon the global financial landscape by the Mysterious person or group going by the moniker Satoshi Nakamoto for one purpose alone: to end the strangle hold of Banks and other financial institutions on digital money transfer services.
Satoshi has stated that traditional digital currency transfer methods whether from one part of the country to another or from one country to another involve third party financial firms that facilitate these transfers.
Naturally, they incur a hefty service fee on the client for their service.
This service fee makes the transfer of funds below a certain amount impractical. These service charges vary from one financial firm to another depending on their reputation and the additional protection they provide.
Often it is not even the choice of the client but rather the banks that employ these firms and have the client foot the bill.
Cryptocurrency in contrast to traditional currency is decentralized. This means that there are no banks or financial groups controlling the currency, or lending your money out to make a profit or even serving as third-party facilitators of money transfer for a percentage of the service fee.
All records or ledgers for existing cryptocurrency and transfer of cryptocurrency from person to person are anonymous and encrypted through powerful encryption programs.
What is the Blockchain Platform?
The beating heart of this system of decentralized, peer-to-peer, monetary transaction and record-keeping is the Blockchain. A brilliant system of network processes and soft wares designed by Satoshi.
Making Cryptocurrency secures and anonymous but also incentivizes users to become Cryptocurrency miners the support the Cryptocurrency market by their own free will.
The two terms are interchangeable and encompass all software and hardware technologies designed to record, encrypt and provide transparency to Cryptocurrency transactions as they are processed by Cryptocurrency miners.
As the system of Cryptocurrency has matured and veterans of the Cryptocurrency market have prospered, many new selections of crypto-currencies have slowly appeared in the digital market each with its own advantages and disadvantages depending on their exchange rate and the Blockchain technologies behind them.
Rise of Blockchain Companies
The purpose of Blockchain platforms was to make it easy for miners to perform Blockchain operation with ordinary everyday PC.
Unfortunately, as older and more lucrative crypto-currencies have matured and their ledgers have grown long, the level of processing power needed to create each new blockchain for those currencies has also grown exponentially.
Today a single miner cannot mine even the smallest fraction of a Blockchain belonging to the first Cryptocurrency the “Bitcoin” using a normal home PC. Doing so would take years just to mine one Bitcoin.
In order to overcome this bottleneck, many new types of Cryptocurrency have been developed on updated Blockchain Platforms to make it possible for ordinary people to continue the tradition of Cryptocurrency mining as a decentralized system.
Yet the problem persists and even newer currencies eventually become harder to mine alone. Some veterans of mining and investors have found a niche market to exploit in this predicament, offering a pooled mining solution where they manage groups of miners and pool their combined processing power to mine each Blockchain then split the reward between them while taking a percentage for themselves.
This growing new trend in Cryptocurrency mining is called Blockchain Companies. These companies promise free and secure support services to new miners who took up Cryptocurrency mining long after the gold rush ended but intend to strike pay dirt mining the newer crypto-currencies that still allow the use of ordinary workstation processors.
Blockchain Companies offer a myriad of services to their clients, information support, pooled mining, Secure Cryptocurrency wallets and safes for miners, Cryptocurrency trading market, even security solutions for other Blockchain companies.
Most of these companies don’t ask for any kind of compensation or membership fee as their revenue is a percentage of the profit each miner gets from successfully completing a Blockchain.
Blockchain Companies in the UK
Cryptocurrency being a digital currency and having no physical form is still unregulated by the global financial bodies as was the intention behind its creation.
In the UK the Financial Conduct Authority FCA has currently no controls or legislations for Blockchain platforms or the Currency itself although framework is in the process of being created to reign it in.
This means that it is largely managed by Blockchain companies in the private sectors and it is not regarded as taxable income.
This clearly creates a trust issue for clients especially prospective miners looking to join the trend whether as a hobby or a full-time endeavor.
But the real issue lies in whether the Blockchain company one signs up with is trustworthy and won’t use your personal information as a commodity or simply vanish with all of your investment. Privacy and security truly matter when it comes to money and it is the reason banks are often taken to task for their dubious misconduct while lending out their client’s money for profit.
Blockchain companies that earn the trust of their clients stand to profit more because they attract a larger volume of clientele to mine for them.
Reputation is everything for these businesses and as such very few gains shining reviews from their current and former users. Here are five of the best rising stars of Blockchain services originating in the UK:
Founded in 2014 by Pavlo Tanasyuk, blockverify is a company that envisions the security of the Blockchain verification process used in Cryptocurrency mining becoming part of all our daily digital transaction needs.
Blockverify is implementing the reputed security of Cryptocurrency ledgers to the validation of goods in supply-chains and online shopping.
Verifying whether a product we are buying online is real or counterfeit is a common issue in online shopping, it is further compounded when large vendors need to verify online bulk purchases from supply chains are legitimate.
Blockchain verification is a peer-to-peer verification system where several observers corroborate the legitimacy of a transaction.
Blockverify contends that what if several independent observers could be used to verify what has been purchased online? Whether the seller is real, or the product is genuine? Blockchain has already been hailed as an anti-counterfeit solution for supply-chains.
It’s is already being implemented for pharmaceutical goods verification as well as luxury products like expensive art pieces and jewelry even electronic goods.
DADI short for “Decentralized Architecture for Democratic Internet” is a cloud network service that is built on the philosophy of neutral decentralized internet service for everyone.
Today if we open our browser and casually browse a website, chances are our internet experience is being controlled or hindered by Microsoft servers, Amazon web services, Google servers or IBM. These are essentially hubs through which all internet traffic has to pass and is under constant monitoring by the said companies.
This basically means whether we like it or not the current structure of the internet has become polarized among these few management companies. This gives rise to a lot of anti-consumer activity, such as giving priority to affiliated web content instead of allowing all content equal bandwidth priority.
In some instance they can even outright block some online content and manipulate information for their own ends. We as end-users would only blame the website being slow or down, but we will rarely understand who is truly responsible because the technology behind our internet is largely a black box for us.
DADI intends to restore the decentralized state of the internet using Blockchain platforms. DADI offers services such as decentralized internet content creation, manipulation, and storage as well as content deployment on demand. The advantage of the DADI cloud network is its decentralized architecture that provides data redundancy over multiple storage sites allowing content to be deployed from any site that is online.
So far I have simply explained conventional Cloud computing network features. What truly makes DADI different compared to existing cloud networks like Google Cloud that are entirely owned and operated by a single corporation, is that these multiple storage sites are actually real people renting out their idling PC resources to content creators on DADI.
Yes, DADI is a true peer-to-peer cloud internet service that monetarily incentivizes its members for allowing the use of their personal computers as decentralized server nodes for DADI.
Among the more orthodox Blockchain service providers is the BC Bitcoin, a Cryptocurrency brokerage firm that deals in trading of Crypto-currencies.
But they would not be on this list if they were not exceptional in their quality standards. This firm opened its doors in 2017 and has been going strong ever since.
Their standard of quality has earned them shining reviews for secure Cryptocurrency Wallet, speedy and polite service staff, ease of use, no hidden charges and the diverse range of crypto-currencies they trade-in. The only downside to such excellent service is the price tag.
In 2016 Cashaa became the first Cryptocurrency bank to open its doors to the public. Cashaa has achieved the status of the first bank of its kind.
Dealing in Cryptocurrency bank accounts, globally accepted Cryptocurrency backed credit cards, Cryptocurrency trading and exchange of Cryptocurrency with fiat currency aka real money. The icing on the cake is that all of these services are managed through a smartphone app.
APPLIED BLOCKCHAIN LTD
A Blockchain company is nothing without someone designing and implementing solutions that allow them to reach customers and provide them services everywhere.
This is where Applied Blockchain Ltd. comes in. Applied Blockchain Ltd. is a company dedicated to the development of applications focusing primarily on distributed Cryptocurrency ledger software, Blockchain platforms, and Cryptocurrency smart contract programming. They also offer solutions for web security to Blockchain companies.