What are Altcoins?

 

Alternative currencies or altcoins as they are known for short refer to any type of Cryptocurrency that is different from Bitcoin which was the first public Cryptocurrency coin in existence.

Altcoins frequently differ from Bitcoin in terms of functionality, such as Litecoin’s ability to execute a block every 2.5 minutes and Ethereum’s smart contract functionality. In 2016, Ethereum has arguably one of the most following of any altcoin and was the most widely used blockchain in 2020. Altcoin market rallies are commonly referred to as an “alt season”.

Some people consider altcoins to be anything separate from Bitcoin or Ethereum as these are the 2 largest cryptocurrencies at the time of publishing and the majority of coins and blockchain projects are built on either of these 2 blockchains.

Key takeaways about altcoins

1. Altcoins can be bought and sold across popular exchanges such as Binance and Crypto.com
2. Altcoins can often be mined with specialized hardware and software which rewards miners with a small amount of crypto for processing transactions on the blockchain. This is an exception however with some altcoins like Ethereum which adopt a different method called proof of stake.
3. Altcoins are considered riskier than their more established counterpart and may or may not actually utilize proper blockchains. Scams or worthless altcoins are commonly referred to as shitcoins
4. Altcoins can be used in tandem with Bitcoin: Altcoins can supplement established coins like Bitcoin in a variety of ways. Some altcoins, for example, are intended to be faster or more efficient than Bitcoin, while others offer additional functionality such as smart contracts for validation.

Read the full article in the AGR Technology Glossary:

https://agrtech.com.au/glossary/altcoins/

What is a virtual classroom?

 

In educational technology, a Virtual Learning Environment (VLE) or Virtual Classroom is a web-based platform for the digital parts of courses of study, typically within educational institutions. They present resources, activities, and interactions within the context of a course framework and outline the many levels of evaluation. VLEs typically report on participation and are integrated with other institutional systems.

They are frequently associated with Learning Management Systems and can sometimes be part of LMS software. VLEs can be utilized as authoring and design environments by teachers and instructors who update them. VLEs have been embraced by nearly all English-speaking higher education institutions.

What are some of the components behind a Virtual classroom application

VLEs are online education curriculums that enable content management, curriculum mapping and planning, learner involvement and administration, communication and collaboration, real-time communication, and linkages to external sources.

A VLE may include some or all of the following components:

    Course Syllabus

    Administrative information about the course

    Notice boards for current information about the ongoing course

    Basic course content

    Video/audio conferencing for teachers to communicate with students in groups or individually

    Additional resources

    Self-assessment quizzes or analogous devices

    Provide additional 3rd party embedded content such as web pages, videos, audio, and other documents

    Formal assessment functions such as exams, essay submissions, or project presentations

    Communication support mechanisms such as e-mail, threaded discussions, chat rooms, and social/web 2.0 functionality like Twitter.

The VLE can accommodate many courses over the whole academic program, providing a consistent interface inside the school and providing linkages to all other online learning spaces.

Read more: https://agrtech.com.au/glossary/virtual-classroom-learning-environment/

What is a DAO (Decentralized Autonomous Organization)

 

A decentralized autonomous organization referred to as DAO for short is an organization built on rules encoded as a computer program that is frequently transparent, controlled by the organization’s members, and uninfluenced by a central government. DAO’s are member-owned communities with no centralized leadership that keep financial transaction records and program rules on a blockchain.

The DAO, which amassed 3.6 million ether (ETH) and was hacked and drained of US$50 million in cryptocurrency, is a well-known example of this type of business organization. The hack was reversed in the weeks that followed, and the money was restored, thanks to a hard fork of the Ethereum blockchain. The majority of Ethereum miners and clients migrated to the new fork, while the original chain was renamed Ethereum Classic.

How do they work?

In order for DAO’s to properly operate they rely on “smart contracts” which are sophisticated software programs and algorithms designed to take into account different circumstances and possible options that a user may take in order to enact certain rules.

This enables actions to be taken and decisions that would otherwise be centralized to be divided up amongst the various peers in the network to allow for decentralization and fair rules for all users.

Read the full post on the AGR Technology tech glossary:

https://agrtech.com.au/glossary/dao-decentralized-autonomous-organization/

Best Cryptocurrency exchanges for New Zealanders

 

The crypto industry is rapidly growing and becoming an increasingly popular investment avenue for many worldwide. New Zealand is no exception to this trend, with more and more Kiwis joining the digital currency bandwagon and wanting to learn more about the massive world of Cryptocurrency.

Quick takeaway:

1. Independant Reserve (Simple for beginners)
2. Binance (Great all round platform and options for altcoins)
3. Nexo (Best for returns)
4. Bybit (Best platform for NZ future trading)
5. Crypto.com – Best exchange for NFTs
6. Swyftx – User-friendly Crypto app
7. MEXC Global – Deepest Liquidity

Looking to get into the cryptocurrency game in New Zealand but need help figuring out where to start? Fear not; we’ve got you covered. With so many crypto exchanges available, deciding which is right for you can take time and effort. That’s why we’ve compiled a list of the best crypto exchanges in NZ

In this article, we’ll explore the best crypto wallet NZ, providing you with all the information (with pros & cons) you need to make an informed decision.

From the fees and security features to the user experience and trading options, we will cover everything you need to know about the top crypto exchanges in NZ.

So whether you’re looking to invest in Bitcoin, Ethereum, or any other digital asset, read on to discover the best crypto exchange platforms that New Zealand has to offer.

Read our full guide here:

https://agrtech.com.au/crypto-blockchain/best-crypto-exchanges-in-new-zealand/

What is DeFi (Decentralized Finance)

 

Introduction – What is DeFi, what does it mean and how does it work?


Decentralized finance (abbreviated DeFi) provides financial instruments without the use of intermediaries such as brokerages, exchanges, or banks through the use of smart contracts on a blockchain. People can use DeFi platforms to lend or borrow money from others, speculate on asset price movements with derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings accounts.

DeFi employs a layered architecture and modular building blocks. Some applications advertise high interest rates but can be risky.
 

Centralized Finance Vs Decentralized Finance (DeFi) – How they differ

Centralized finance

Centralized finance refers to the traditional financial system which involves a central bank such as the Federal Reserve (USA) and Reserve Bank (Australia) which sets interest rates and manages the core currency and then banking institutions that provide financial services such as loans, credit cards and online banking services to send/receive money.

Centralized finance goes through intermediaries that hold and manage the funds on your behalf and are typically traditional banks that have existed for centuries however can also include centralized Crypto currency exchanges like Coinbase which manage the underlying wallet for you.

Centralized platforms are mostly regulated and follow a procedure called “Know Your Customer” and require you to submit ID in order to use the platform such as a drivers license or passport along with a picture of your face to verify your identity.

Decentralized finance

Decentralized finance platforms in contrast work on a peer-to-peer approach without a centralized company or institution.

DeFi platforms work on a Blockchain network such as Solana or Etherium and are driven by “smart contracts” which are essentially computer algorithms that contain different rulesets for the specific application and are designed to run on their own and allow users to co-ordinate transactions between each other.

These smart contracts are made up of a variety of predefined conditions that, when met, cause events to occur within the application, also known as a dapp (decentralized application).

By been built on peer to peer concepts and individual users managing their own Crypto assets and wallets users don’t need to go through verification and can transact much faster in what can be described like a vending machine where the application provides functionality on an ad-hoc as needed basis. An example of this might be an exchange to convert one Crypto coin to another type (e.g. Etherium to Litecoin).


Read more: https://agrtech.com.au/glossary/defi-decentralized-finance/

What is a smart/digital wallet?

 

A digital wallet is a physical device, service, or software platform that enables individuals and businesses to conduct electronic transactions. This can include buying items online or at the point of sale in a physical store, using mobile payments (on a smartphone or other mobile device) or (for online purchases only) a laptop or other personal computer. Other terms for this include e-wallet or smart wallet.

Money can be deposited in the digital wallet prior to any transactions or an individual’s bank account can be linked to the digital wallet. The credentials can be wirelessly transmitted to a merchant’s terminal via Near Field Communication (NFC). Digital wallets are increasingly being used to authenticate the holder’s credentials, such as verifying the buyer’s age to the seller.

Digital wallets can also be used to buy, sell and manage Cryptocurrency assets such as coins like BitCoin or Etherium and NFT’s or manage traditional financial products and assets like credit cards, stocks and other investments.

Read more: https://agrtech.com.au/glossary/digital-wallets/

NFT (Non-Fungible Token) technology explained

 

 

A Non-fungible token (NFT for short) is a one-of-a-kind digital identifier that cannot be duplicated, substituted, or subdivided. It is recorded in a blockchain and can be transferred by the owner, making NFT’s sellable and tradeable. NFT’s frequently include references to digital files like photos, videos, and audio.

NFT's fall within the Crypto/Blockchain category and more broadly in Fintech (Financial techhnology).

NFT proponents claim that NFT’s provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT are not always clear. The NFT market expanded dramatically from 2020 to 2021, but prices fell sharply in 2022, with a May 2022 estimate indicating that sales were down more than 90% from their peak in 2021.

Since their inception the technology has been incorporated into a number of different projects commercial and non-commercial and used across various industries notably by artists for selling digital copies of their artwork.

Full page on our tech glossary: https://agrtech.com.au/glossary/nft-non-fungible-token/