Cryptocurrency is a digital or virtual form of currency and is secured through cryptography. Cryptocurrencies are not issued or regulated by any central authority or bank, hence making them immune to any international interference or manipulation. They are distributed over a wide network of computers, and are regulated through Blockchains for record keeping, tracking and maintaining their integrity.
Simply described, Cryptocurrency is a more secure method of making online payments, through denominations in the form of virtual tokens. They are encrypted with various algorithms including elliptical curve encryption and public-private key pairs with various functions and specifications. With the success of Bitcoin, one of the most popular cryptocurrencies today, many new cryptocurrencies have emerged including Litecoin, Peercoin, and Namecoin.
What is Blockchain?
A Blockchain holds the information of cryptocurrency transactions, and updates it regularly over 100 times a day, to keep the record fresh. Blockchain holds information in groups with limited storage capacities, and once these blocks are filled, they are attached to the previously existing chain of blocks, making it a Blockchain. Therefore, when a block is filled, it becomes part of a timeline with a timestamp, and added to a chain of decentralized nature.
In terms of security, a blockchain is extremely secure. Each block in the chain has a position referred to as its 'height', and once a block is assigned a particular height, the records become extremely difficult to alter. Since each block has a hash, the hash of the block preceding it, and a timestamp, altering a single copy of blockchain does no good. Moreover, it would take alteration of more than half of the Blockchain copies to steal any Bitcoins, which again cannot go unnoticed, making Cryptocurrencies extremely secure.
What is a Blockchain Website?
A Blockchain website helps you store, trade, and buy cryptocurrencies such as Bitcoin and Peercoin. You can monitor your current repository, cryptocurrency worth, and other real-time information with the help of a blockchain website. Some of the most popular Blockchain websites include blockchain.com, that currently stores the information of 65 million wallets, and has facilitated transactions worth $620 billion as of now.
Although building a Blockchain website or an application is far from a trivial task, and an extensive programming knowledge and skills would be a prerequisite, there are some platforms where you can build such websites without having to code. These platforms offer users an easy to use interface, preferably drag and drop, to add sections and segments of the website, and add all the functionalities to build and manage decentralized currencies and projects.
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Abridged is a platform to build decentralized projects with efficient teamwork and collaboration, and without any coding. It is an efficient and user-friendly blockchain application development platform, that facilitates the use of Blockchain and crypto. Teams and organizations can even create advanced applications using Abridge using its SDK. Abridged focuses on a design called Incremental Decentralization, meaning more centered on custodial fund ownership.
Features Offered by Abridge
- Best feature of Abridge, without a doubt, is that it does not require the user to have any coding skills, and the application can be built by a simple drag and drop interface.
- The websites and applications built by Abridge are mobile friendly, thus enabling users to operate the website or application even on their mobile phones.
- Features and applications of Abridge can be used by any number of communities, individuals, and groups without any code.
- The transactions of users using applications built by Abridge are seamless and fast, without having to face network delays.
- Abridge applications can also be used to integrate with third party applications and APIs.
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OpenST is a platform, that helps make cryptocurrency and the concept of Blockchain. The concept of decentralization is the basis of cryptocurrencies and their security, and forms the fundamentals of Blockchain. Simply put, if you have the key, you own the data. OpenST hence works on Utility Tokens, Wallet Recovery, OST chain, and OpenST platform. It uses GitHub platform to make any changes to the existing code on any one of these platforms.
Utility Tokens can be issued on layer 1 Ethereum and then settle transactions on layer 2. With OpenST, you can define your own contract rules and decide how tokens interact and behave on your application.
OpenST allows for the integration of a self custodial contract wallet SDK directly into your mobile or desktop application. With Wallet Recovery users can support multiple devices and recover access with a 6 digit pin.
OST Chain can be useful in secure interactions and trade of tokens and messages between Ethereum chains. OST chains also runs EVM contracts on layer 2.
It is a platform that furnishes users with a backend to conduct meta transactions approved by the user in your Blockchain application to your OST chain.
The Cryptocurrency and Blockchain technology, however complicated, seems to be moving ahead with pace, and is a promising one at that. Its secure nature and the fact that it isn't influenced by government policies, have the ability to make it big in the future of trade and commercial transactions. Also, having a firm grip on Blockchain technology may prove to be useful, and although the conventional method requires the users to know to code, the no code platforms mentioned above are equally plausible.