Bitcoin's Trajectory || Crypto Academy - S4W5 || Intermediate Course by @gema777

in SteemitCryptoAcademy3 years ago (edited)


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This is input for week 4 homework where I read the lecture of professor @imagen understood and explained very technically, I will begin to perform the task. below


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On how many occasions has halving been performed in Bitcoin?

A halving is the reduction by half of the reward given for the validation of blocks in the network, when a certain number of blocks are mined for example the BTC which are 210,000 blocks a halving occurs means a reduction by half of the rewards given to each miner who can validate a block.

In the history of the btc there have been 3 halvings.

The first one occurred in the year 2012 decreasing the reward from 50BTC to 25 BTC when 210,000 blocks were reached and up to that moment all miners received a total of 5,250,000BTC as rewards for validating blocks.

The second occurred in 2016 specifically on July 9 when it reached 210,000 blocks since its last halving in 2012, miners at that time from 2012 to 2016 received a reward of 2,625,000BTC for validating blocks. the reduction was from 25BTC to 12.5BTC.

And the last halving in BTC history so far happened in May 2020 where 210,000 blocks were completed from 2016 to 2020. and miners over the course of those two years received a total of 1,312,500BTC
the reduction was from 12.5 to 6.25BTC per block mined so far.


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When is the next Halving expected?

By 2024 the 210,000 block is expected to be mined and the halving will be from 6.25BTC to 3.125BTC per block and a total of 656,250BTC will be distributed to miners who are currently mining until the agreed date.

then by 2028 210,000 more blocks are expected to be mined and the halving will be 3.125BTC at 1.56BTC per block mined by the date a total of 318,125BTC will be distributed from 2024 to 2028.

What is the current amount Bitcoin miners receive?

Currently they receive an amount of 6.25BTC for each block mined in the year 2021 that we meet and from the year 2020 to 2024 a total of 1,312,500BTC will be distributed as a reward to all those miners who are currently working.


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List at least 2 cryptocurrencies that perform or have performed halving.

Ethereum:

Undoubtedly I could not fail to mention the second star coin of the cryptographic ecosystem Ethereum for the year 2021, Ethereum realized a halving called London Hard Fork this has a code called EIP-1559 and what this code will do is to take out of circulation coins which is the same to be burned, and currently is also changing protocol to A participation mechanism which will leave aside the mining and make way for the community where everyone who has ETH will have power of participation something more centralized.


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What are consensus mechanisms, how do the Proof of Work and Proof-of-Staking differ?

The Proof of Work (PoW) mechanism is responsible for validating blocks approved or canceled, by means of a third generation mathematical algorithm, which use electrical energy to power powerful hardware of the latest technology that in turn transform all its processing power to solve these mathematical problems in seconds through a specialized software. Thus once several thousand of these blocks are created and these blocks are validated by the miner and then go to a ledger of the blockchain where all the transaction information for the general public.

Proof-of-Staking (PoS) Mechanism Generally defined as a centralized participation protocol that works with the participation of investors in general or organizations as is the process users or participants buy a cryptocurrency and this is blocked by the system for a period of time in this way both the investor and the network benefit from this method, it is much greener and does not harm the environment only need to be connected to the network to have assets and block those assets.

The most relevant differences between these two mechanisms are

PoW: It is a Decentralized Mechanism and uses high-tech equipment to mine.

PoS: It does not mine with high-tech equipment, it only needs a willing community.

PoW: It needs a lot of electric power

PoS: It needs users to buy and block a cryptoasset in general.


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Go to the Bitcoin browser and enter the hash corresponding to the last transaction. Show screenshot.

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The following link will take you directly to the blockchain website here you can see the latest transactions by hash. https://www.blockchain.com/es/explorer

The last transaction was e400f8eb25121607da243c2b13a2aba303fe37e30d99968237cce06b4a8e5616.


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In the following link we can see the last transaction in detail of the hash.
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e400f8eb25121607da243c2b13a2aba303fe37e30d99968237cce06b4a8e5616


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What is Altcoin Season? Are we currently in Altcoin Season?

Altcoin season refers to past times where the graphs show us a performance of more than 75% with reference to the Bitcoin, when the altcoin gain ground and users are more interested in them we say that there is a season of Alcoint, it is understood that these give more economic benefits than the BTC occurs as a chain of events where all other altcoin with good projects begin to gain interest from many users this creates a demand and therefore an uncontrolled price rise to a resistance where users at that time want to make profits and will sell.

Currently we are not in an altcoin season but we do see that some of these altcoins are taking power for example the NFT and TOKEN ERC-20 are taking dominating are more demanded right now by many communities for example the gamer community that are migrating to platforms like axie infinity plantsvsunead, cryptoblade, cryptocarsword etc. this has been filled with so much fomo that we see a growth in these tokens although it is not yet an altcoin season is expected one very soon.

A well known cryptocurrency platform makes reference to the fact that we are very close to a new altcoin season. Sourse

I also have information from a very well known stats site called https://www.blockchaincenter.net/ which provides analysis of altcoins.


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Analysis of the last 90 days


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When was the last Altcoins season? Mention and show 2 charts of Altcoins followed by their growth in the most recent season. Justify your answer.

According to this graph where they give us in detail the exact dates, it was May 20 to the end of June 2021 hard only 3 months we see in the following graphs peaks of more than 75% profitability in altcoins for that time. regarding the btc. as we saw previously expect a new altcoin event to happen very soon. attentive to this data.


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Fantom "FTM"

It is a cryptoasset that leads the top 50 on the www.blockchaincenter site has had a growth of 846% so far in the coinmarketcap rank is ranked #35 and has a value of $2.17 with a market cap of $5.4billion in the crypto market.


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Bitcoin Cash "BCHA"

Born from the fork of BTC it has a value of $190.05 and is in second place in the top 50 of www.blockchaincenter with a rank of #203 in the top of coinmarketcap and a market capitalization of $3.5Billion has risen in the last days by 615% followed by AXS of axie infinity with 611%.


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Make a purchase from your verified Exchange account of your choice of at least 15 USD in any currency that is not in Coinmarket's top 25 (no SBD, tron or steem allowed)

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My Verified Exchange User "Binance"


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I am going to make a purchase of AXS the axie infinity governance token for the simple reason that this token will not stop rising it is in high demand although it has peaked at $188 and may try to touch that resistance again it is currently on the #26 coinmarketcap rack leading the charts I showed.


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Justification Why I choose this token.

AXS is a governance token of the axie infinity ecosystem many entities and organizations are investing large amounts of money in this project to create axies give grants and make a profit. it works under the Ethereum network it has had a high growth in the last month touching peaks up to 188$ which I find very fascinating, I see it has a great growth now that they are going to implement their own network and the developers are talking about a growth of more hundreds of thousands of new users that are currently logging into this great platform.

Its C.o. founder Jeff "The Jiho" Zirlin reveals the keys to the success of a NFT game, He tells us that thanks to the competition that exists at this time by other game developers "play to win" this has had a responsibility to improve every day the different aspects of the game in terms of technology and methods of play is concerned, so I see a very large trajectory even a limitless ecosystem of options where everyone can play to win the way we want at the time that we are willing to play.


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conclusion:

Completed with all the topics which were quite long and I focus on giving the best of me in each of the questions and answers let's talk a little of the last point of the games play to win, these games are very complicated in the sense that there are very large risks through volatility although at this time are very profitable and I play it I recommend that you read and research well before entering any of them.

The objectives set out in class were duly answered with an investigation of hours of work was not easy to find information graphics and edit but here I bring it to all of you can view and very important information firsthand.

each article is answered in my own words and is dedicated exclusively to steemit cryptoacademy and to all those readers who are willing to learn as I do week by week with these wonderful tasks.

@imagen.

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Continua esforzandote, espero seguir corrigiendo tus asignaciones.

@imagen corregido gracias.

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