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Simplify: Cryptocurrency

Overview

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White paper
💹
XSB Distribution
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Evaluation & Strategy
🍀
Terms of use

Payment Protocol, Solareum Wallet and XSB

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Solareum Integrates FIO Send to Simplify Cryptocurrency Transactions
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Solareum Partners with FIO Protocol to Make Sending Crypto as Easy as Sending an Email
Lightning Rewards SDK
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What is a Payment Protocol?
What is Lightning Rewards?
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How to connect to Solareum Wallet?
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Borderless and bankless payment
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The role of crypto payment channel
What role will Solareum play in Web 3?
What role will Solareum play in Web 3?
Simplify: Solareum (XSB)
Simplify: Solareum (XSB)
Solareum aims to push crypto payments go to mainstream in 2022
Solareum aims to push crypto payments go to mainstream in 2022
Solareum introduces a new feature: Syncing users' private keys to the cloud
Solareum introduces a new feature: Syncing users' private keys to the cloud
Solareum x Moonpay
Solareum x Moonpay
How to use Moonpay on Solareum?
How to use Moonpay on Solareum?
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Simplify: Money
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Simplify: Cryptocurrency
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Simplify: Exchanges
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Simplify: Crypto Wallet

Developers

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How to connect to Solareum Wallet?

FAQ

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Upcoming Plans
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Solareum Wallet: How to use safely?
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Solareum Wallet: Terms of use
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Solareum Core Team Q&A
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Solareum: Q&A

Vietnamese

Lightning Rewards SDK
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Sử dụng Lightning Rewards thế nào?
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Làm thế nào để sử dụng trang Explore
LR hoạt động thế nào?
💹
XSB Distribution 2.0
📃
White Paper
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Solareum: Định giá - Chiến lược
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Sử dụng Solareum Wallet thế nào cho an toàn?
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Thông tin thị trường XSB/USDC
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Solareum Wallet - Điều khoản sử dụng
Lightning Rewards là gì?
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Giải mã ý nghĩa Logo Solareum
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Solareum - Kế hoạch sắp tới

Simplify: Cryptocurrency

Like other currencies, cryptocurrency is also used in an ecosystem where it is accepted. For example, if you are in the US, the Dollar (USD) will be used as a payment instrument, while in Vietnam it will be Viet Nam Dong (VND). And in the Bitcoin ecosystem, BTC will be seen as a tool for exchange

image

What is the different?

Whereas with the fiat system, it is guaranteed by a government, circulated within that country and treated as legal tender. As for cryptocurrency, it is completely decentralized and no one can control it, so it will have the following advantages:

  • Scarcity
  • Easily broken down to small units
  • Easy audit
  • Move easily
  • Weightlessness
  • Borderless and completely decentralized
  • Can’t be faked
  • No one has been able to hack or hack Bitcoin’s network yet
  • Smarter and growing steadily with updates

How it works?

The cryptocurrency is based on blockchain data technology - a huge public ledger listing all transactions validated by a globally connected computer system.

Cryptocurrencies are built on complex algorithms, which allow transactions to be made directly between senders and recipients without the need for control by governments, banks or financial institutions. while still ensuring the safety and accuracy of the transaction.

It can be said that the introduction of cryptocurrencies marked a historic turning point in the form of electronic payment.

Ecosystems in Cryptocurrency

Ecosystems in cryptocurrency are built on different blockchains. For example, BTC is stored and moved on the Bitcoin network, the same goes for ETH in the Ethereum network.

However, not every project builds its own network, but uses the existing network to develop. For example, the Aave project is built on Ethereum’s ERC20 network

Here are some of the dominant crypto ecosystems in 2021:

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The biggest difference between the networks is the transaction fee and the transaction speed per second. You can see that Solana is one of the best ecosystems currently in terms of the two criteria above, which is also the reason for the outstanding performance of Solana this year.

Two most popular applications of cryptocurrencies

Exchange, buy and sell goods

Currently, there are many big brands and stores that accept payments in cryptocurrency, not only Bitcoin but also Ethereum, Cardano, Solana, Dogecoin Shiba Inu and many other coins.

Invest and store as an asset

There are many people and organizations that see cryptocurrencies, especially Bitcoin, as an asset that can store value and fight inflation.

→ With the above two reasons, the crypto market is increasingly gaining a foothold and becoming an important part of the financial market. Moreover, it is affecting politics as well as for the first time a country - El Salvador - recognized Bitcoin as a legal currency.

Conclusion

Hopefully, through this article, you have had a simpler view of electronic money and its uses. Stay tuned for the next articles to better understand this market

Thanks

Solareum team