Bitcove Blog

News and updates from the Ireland's leading cryptocurrency exchange

29-09-2021

Minting NFTs on Opensea

OpenSea is a decentralized, P2P (peer-to-peer) marketplace on the Ethereum blockchain. Users can browse, create, buy and sell Non Fungible Tokens (NFTs). An NFT is a unique digital asset that contains an authenticable proof of ownership on the blockchain...

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28-08-2021

Token Burning Mechanics

Cryptocurrency tokenomics refers to how a particular coin or token is created, distributed and managed throughout its lifecycle. Some tokens are created all at once (pre-mined), others have a limited initial supply that grows over time...

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August 28th

2021

28-08-2021

Filecoin & Storj

Cloud storage has become a common service accessed by users the world over whereby data storage is outsourced to specialised providers. Companies such as Google Drive, Amazon, Dropbox and OneDrive store data in logical pools, said to be on "the cloud". The physical storage spans multiple servers, and the physical location of said servers is typically owned by the hosting company...

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01-08-2021

Bitcoin Taproot Upgrade

Taproot is an upcoming, soft fork upgrade coming to the Bitcoin blockchain network. A soft fork is a change to the software protocol where only previously valid transaction blocks are made invalid...

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24-07-2021

Etherum

The Ethereum London Hard Fork is an upcoming update on the Ethereum network which aims to change the blockchains transaction fee model and difficulty time bomb. The network will set transaction fees with a base fee for each block rather than bidding on gas prices...

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11-07-2021

Solana Serum

Solana is a web-scale blockchain that provides fast, secure, scalable dApps (decentralized apps) and marketplaces. It’s native token, $SOL, is used for transactions on the network. Currently, the system can carry out 50,000 (transactions per second) and 400ms Block Times (time taken to create a new block in a blockchain). Solana’s long term goal is to address speed, scalability and transaction fee issues...

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19-06-2021

Blue Clip DeFi

In this blog we will take a look into some of the exciting “Blue Chip Defi” tokens that are now available on Bitcove. Defi (decentralized finance) is a concept wherein financial products are made available to the consumer without the previously necessary middleman of a bank or brokerage associated with centralized finance...

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12-06-2021

Crypto Scams

Anywhere there is profit to be made, scams and scammers are never too far from the action. Unfortunately, the world of cryptocurrency is no different. Victims are chosen indiscriminately and can easily, unwittingly suffer losses as a result. Luckily, there are many precautions that can be taken to avoid such hardship...

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06-06-2021

Uniswap

Uniswap is a protocol for automated token exchange on the Ethereum network. The Uniswap exchange is an open source, decentralized platform that allows users to swap ERC20 tokens in a trustless environment (meaning users don’t rely on anybody to govern swaps). Uniswap also allows users to earn money by providing liquidity to token reserve pools.

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25-05-2021

Metamask

Metamask is a free browser extension used for storing Ethereum and other ERC-20 Tokens. The extension allows web applications to read and interact with Ethereum’s blockchain in a secure manner...

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May 6

2021

06-05-2021

What is defi?

Decentralized finance is a concept wherein financial products are made available to the consumer without the previously necessary middleman of a bank or brokerage associated with centralized finance...

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08-04-2021

Proof of work vs Proof of Stake

01-04-2021

Proof of stake

Proof of Stake is a form of consensus mechanism where network users pool funds together (stake) as a form of collateral to ensure participating members contribute to the security and operations of the blockchain...

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25-03-2021

Bitcoin Miner

A blockchain is a decentralised, trusted database shared across a network of computers. Any information added to this network is extremely difficult to change. To date, blockchain technology has mainly been used as a transaction ledger for cryptocurrencies. However, there are a multitude of new, emerging uses for the technology.

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15-03-2021

CryptoKitties

An NFT is a unique digital asset bought using cryptocurrency that exists (mostly) on the Ethereum (ETH) blockchain. The NFT craze is currently booming - in February 2021 alone over $86 million was spent in said market. NFT stands for “Non-Fungible Token”. This is a special type of cryptographic token which represents ownership of something unique and scarce. NFT stands for “Non-Fungible Token”. This is a special type of cryptographic token which represents ownership of something unique and scarce.

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11-11-2020

Bitcoin ATM

A Bitcoin ATM (BTM) is a type of kiosk which allows users to buy bitcoin and other cryptocurrencies locally for cash. The majority of Bitcoin ATM’s only allow you to buy bitcoin, but there are some which facilitate both buying and selling. Bitcoin ATM’s are nifty machines which can allow a secure, straightforward and fast method for buying bitcoin.

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14-10-2020

Stablecoins

Stablecoins are a class of cryptocurrency which offers price stability and are typically backed by a reserve asset. The use of stablecoins can be seen to offer the best of both worlds; the speed, privacy and cost effectiveness of crypto assets while enjoying the price stability of traditional currencies such as the Euro or US Dollar.

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