Benefits Of Cryptocurrencies Today

A lot of news and online buzz around cryptocurrencies revolve around their price. But what people seem to misunderstand or fail to even ask is why cryptocurrencies were created in the first place. Here are some of the benefits cryptocurrency usage can bring today.

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Cryptocurrency is a digital currency created from code. So unlike traditional forms of payment, committing fraud using cryptocurrencies is impossible. Likewise, it cannot be counterfeited. It is also not possible for it to be reversed arbitrarily by a user.

Purchasing cryptocurrencies happens immediately. It does not go through a bank, a waiting period, third party approvals, nor does it include payment fees. This makes digital transaction fast, uncompromised, and direct from one person to another.

Traditional credit cards operate through a pull mechanism where an establishment gets an amount from a user’s bank account. This opens up space for faulty transactions and even identity theft. Cryptocurrencies operate using a push mechanism where users can send exactly what they want to send to a merchant.

Cryptocurrencies are managed by blockchain technology that manages and records all cryptocurrency transactions. They are governed by networks and not one authority. This decentralization means users can make transactions on a peer-to-peer basis as opposed to using third parties like banks or remittance centers.

And since cryptocurrencies are digital, anyone from the billions of people who have internet access can use them. This can help people who do not have traditional ways of making or receiving payments.

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Ormeus Coin by Ormeus Global is a new digital money system built on Ethereum. It is backed by a fully-audited $250 million industrial crypto mining operation. Learn more about cryptocurrencies by visiting this blog.

Ethereum: A Beginner’s Guide

If you have some basic understanding of blockchain technology, it’s possible to know how Ethereum works without going too technical. Blockchain technology, for starters, is most commonly linked with Bitcoin, yet it has many other applications – in fact by the hundreds – that extend beyond digital currencies.

Given the evolution of technology and relevant skills, it’s now possible to develop previously unimaginable apps and have the tools to maintain them. Ethereum is key: it’s an open software platform based on blockchain, enabling developers to build as well as deploy decentralized apps.

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Note that this distributed public blockchain network should be clearly distinguished from Bitcoin. Bitcoin provides a peer-to-peer electronic cash system enabling online Bitcoin payments, while Ethereum is focused on running the development code of any decentralized app.

Ethereum’s goal is to be a “world computer” that decentralizes and even somehow democratizes the existing client-server model. With it, servers as well as the cloud are replaced by thousands of “nodes” that are run by volunteers from around the world. The goal: to make the functionality accessible to people from across the globe and allow them to participate in offering services on top of the infrastructure.

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Ethereum is foreseen to return control of data in relevant types of services to its rightful owner and the creative rights to its author. While sometimes met with skepticism in terms of security or scalability, it demonstrates how we can push the boundaries in using today’s available technologies.

Ormeus Coin by Ormeus Global is built on Ethereum. The new digital money system is supported by a fully-audited $250 million industrial crypto mining operation. Its revenue from the mining farm is cryptographically linked to the Ormeus Reserve Vault—ORV—by proof of asset technology and self-executing Ethereum blockchain smart contracts that are ERC20 compliant. Learn more about cryptocurrency on this page.

Money Talk: The Benefits Of Going Cashless

On November 2016, India’s government did the improbable: it ordered its people and banks to embrace demonetization. Eighty-six percent of the banknotes then being circulated were suddenly rendered invalid. The move was aimed at dealing with the country’s notorious black market, but it led to much chaos in the immediate aftermath, given that 90% of India is dependent on fiat currency.

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The situation eventually improved; the country’s black market dilemma addressed. And the then incredulous and amused watching world is now catching up on the need to migrate to digital transactions. In a word: cashless. Recent technological innovations have paved the way for the decline in cash transactions worldwide, with ATM withdrawals becoming less frequent in both developed and developing countries.

This is complemented by the rise of alternative currency in the form of Bitcoin, Ethereum, and other cryptocurrencies. Blockchain has led to both an independent and interdependent model for decentralizing control of the value of money. And big businesses like PayPal, Microsoft, Expedia, and Shopify are now accepting Bitcoin as payment method.

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Because, aside from decreasing black market activity, going cashless is the best path for countries to reduce cost and increase tax revenues. Making fiat or paper currency requires considerable resources and manpower for administration. In fact, the U.S. alone spends $200 billion per year just to keep cash in circulation. On a more practical note, it’s more convenient not to be carrying cash around or being dependent on it, especially in less urbanized places with fewer ATMs.

Ormeus Coin by Ormeus Global is built on Ethereum. The new digital money system is supported by a fully-audited, $250-million industrial crypto mining operation. For related reads, visit thisblog.

Top Reasons For The Continuous Growth Of Cryptocurrency

While people have mixed responses to cryptocurrency, it flourishes. In fact, it is experiencing continuous growth even in the midst of criticism from businessmen, investors, and others. Its allure of investors getting rich quickly is what makes others doubt its capacities.

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Nonetheless, cryptocurrency is here to stay for varied reasons. Among these is that it’s becoming more mainstream. Governments and corporations are beginning to look at means for their agencies and organizations to incorporate the use of blockchain technology to decrease costs, increase efficiency, or take out the middleman in transactions. Operating with already high expectations for the crypto market, it can only go higher as more applications and determined for possible use in the global marketplace.

This digital currency has become more accessible to the public with recent innovations making it easy to use. Smartphone apps like Coinbase have become a means for investors to buy crypto coins so effortless and any person with a valid ID and bank account may sign up for a free account. Coinbase recently became the No. 1 app in the United States, moving past YouTube to get to the top spot.

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With higher returns than Wall Street, cryptocurrency is the clear choice of investment if one knows what to buy and when. Facebook IPO was not available to all investors as it required an income threshold for one to purchase the IPO. While this seemed to be a bummer for some, it saw huge gains for those who met its standards. Between Facebook IPO and cryptocurrency, the winner for bringing in more returns is the latter.

Ormeus Coin by Ormeus Global is built on Ethereum. The new digital money system is supported by a fully-audited $250 million industrial crypto mining operation. For more about the Ormeus Coin, visit this page.

Ormeus Coin: Leading the way in new financial technologies

Innovative financial technologies are changing the way people make transactions. Instead of dealing with long lines, non-compliant partners, and interrupted operations, these new applications and technologies prioritize convenience and security. With so many cryptocurrencies making their way into the market, users have to be sure about the security and the efficiency of these groundbreaking digital assets. 

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Ormeus Coin by Ormeus Global is a new digital money system built on Ethereum, one of the premier Blockchain and cryptocurrency platforms. Also known as ORME, it is supported by a fully-audited $250 million industrial crypto mining operation that is cryptographically linked to the Ormeus Reserve Vault, or ORV, through proof of asset technology and self-executing Ethereum blockchain smart contracts. These smart contracts are ERC20-compliant. 

ERC20 or the Ethereum Token Standard enables the execution of smart contracts in the Ethereum system. In 2015, two years after the creation of Ethereum, the ERC20 was drafted to define the regulations to be followed by Ethereum tokens. This allowed developers to find new ways as to how their tokens will be used in the Ethereum ecosystem. This means that Ormeus Coin is fully secured and follows the platform’s best practices. Its mining operations are linked to the Ormeus Reserve Volt (ORV) and optimized by custom-built artificial intelligence that decides the most profitable mainstream crypto coins to mine at any point. 

Ormeus Coin is powered by green energy. At present, it carries Bitcoin, Litecoin, and Dash mining rigs that produce $8 million a month. It has started cryptocurrency mining operations in upstate New York. 

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To learn more about Ormeus Coin by Ormeus Global, visit this page.