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What Founders Should Keep in Mind When Building Their Blockchain Business






Blockchain has the potential to completely change how people do business, and innovative startups are taking notice.

A well-known use of blockchain technology is a cryptocurrency, and people often use the terms interchangeably. However, blockchain and cryptocurrency are not the same. Blockchain is the technology that enables cryptocurrency, and it has other uses as well. Cryptocurrencies use a distributed ledger, but they are based on a digital store of value and exist primarily as a source of electronic currency. Alternatively, businesses using the blockchain maintain internal records, allowing for transparency of transactions through a distributed ledger while keeping personal data secure with the encryption of the blocks.

Blockchain has the potential to completely change how people do business, and innovative startups are taking notice. In a recent TechRepublic research study, 64 per cent of the professionals said they expect blockchain to impact their industry in some way, and most expect the impact to be positive.

Organisations are using blockchain for other purposes, such as digital verification systems that ensure creators are paid fairly for their work.  Efficient data transfer systems are used to create faster and safer digital identities.  As more organisations seek to leverage the benefits that blockchain offers and create other blockchain-based services, one must consider the computing and infrastructure needs of these potentially world-changing businesses.

Understanding the Basics of Blockchain

At its core, blockchain enables record keeping in a secure, immutable manner. Anything can be tracked using blockchain technology, from tangible resources to intangible information. In a blockchain, data is encrypted within a block. Each block contains the data itself, a hash that is unique to the block and a hash of the previous block. New blocks are created by generating a new hash. These new hashes are then validated through a consensus mechanism, often called a proof-of-concept. When valid blocks are accepted in the network, the blocks are added to the blockchain.

If someone tampers with the data in a block, the hash changes, making all hashes in subsequent blocks invalid. To make changes to data within a blockchain, one must create a new hash and pass it to the network’s Proof of Stake mechanism for each subsequent block in the chain. Since the verification mechanisms are distributed across multiple computers and owned by different individuals, it is almost impossible to tamper with the data in the blockchain.

Selecting a Consensus Mechanism

Consensus mechanisms allow distributed networks to remain secure by requiring a general agreement for proposed changes or additions to the system. Consensus is created in a few different ways to allow a block to be added to the network. The most common types of proof are Proof of Work and Proof of Stake. Each consensus mechanism has pros and cons, depending on the goals of the network and the resources available.

Proof of Work

Proof of Work requires individuals to solve cryptographic puzzles to create blocks. Creating new blocks (often called mining) requires powerful hardware capable of solving the complex math problems needed to create a new hash for the block. Computers are used to find the answer to the puzzle. Due to the complexity required to create each block, proof of work verification methods is exceptionally secure. Proof of Work is extremely energy-intensive and a primary source of concern about the environmental impact of cryptocurrencies.

Proof of Stake

With a Proof of Stake mechanism, validators are required to “stake” a token or tokens from the blockchain network into a staking pool, locking them in for a period of time. The coins or tokens at stake never leave your wallet, but they cannot be traded until the stake is withdrawn. The exchange will never ask you to withdraw tokens for placing bets. After the coins or tokens are staked, the network uses a random process to choose a validator to produce the next block. Proof of Stake to secure blockchain uses very little energy and is much faster than proof of work.

When choosing a consensus mechanism for a blockchain, you must consider the goals of your network. The consensus mechanism should be flexible, high-performing, and efficient.

Choosing nodes for blockchain applications

Blockchain requires coordinated activity from multiple computers. Any computer connected to a blockchain network is called a node. Nodes are the framework of a blockchain, which stores, spreads, and protects data in a chain. Nodes should be able to easily follow the rules and participate as needed. There are different types of nodes, each with a different job in the verification process and each requiring unique computing power. The two most common types of nodes are full nodes and mild nodes.

Full nodes fully validate transactions and download the entire data of a specific blockchain. They download the entire history for the rules to be followed and enforced. Since they contain the entirety of transaction and data history, full nodes also provide increased security to the network, as each one can run on the same network. Full nodes require a significant amount of computing power. Since they are performing both verification and consensus functions, they are extremely latency-sensitive in terms of both disk and network.

Lightweight or Light nodes do not fully download the data to the blockchain. Light nodes rely on full nodes for full chain integrity and must be connected to full nodes to be able to participate in the verification process. Lite nodes download and validate the most recent transactions, making them faster than full nodes and able to run with less computing power, which means that the data history needs to be fully accessed. For that, they need full nodes. Light nodes have lighter hardware requirements and lower time requirements and provide significant resource savings.

Choosing a Cloud Provider

Blockchain is an extremely complex area of ​​technology that is constantly evolving and changing. There’s no reason to add any more complexity with your cloud provider. When researching a cloud provider for your blockchain business, consider the following factors:

CPU Considerations

The blockchain requires large amounts of ingress, and data out to the rest of the network due to on-chain downloads and updates. Take a closer look at potential providers’ bandwidth models, benefits and pricing.

Uptime Considerations

Blockchain networks must run well, regardless of the provider they are on. Decentralised applications can run anywhere, but that doesn’t mean they’ll run optimally anywhere. Research the cloud agnosticism of potential providers. Find out if there is a lock-in with longer contracts or how well they support cloud-native computing. Blockchain requires extremely reliable services, so it is important to find out about the reliability of whichever provider you are considering.

Scalability Considerations

Chains also grow naturally over time. Destroying and creating servers to complete chain growth would be significantly disruptive. Choose a cloud provider that enables you to resize your servers. For example, DigitalOcean allows developers to spin droplets up and down with the click of a button. Since blockchain services often need to expand in response to demand, consider choosing a cloud partner that provides a transparent pricing model, helping you understand what the costs are for different levels of demand.

Ease of use Considerations

Find a cloud provider that enables you to move quickly and efficiently. A cloud provider that is as complex as the blockchain can pose hurdles in administration and development. For example, setting up and running an environment on a hyperscaler usually takes a long time due to configuration accounts, IAM, and more. To move faster, consider a cloud platform that provides simple, easy-to-use solutions and robust documentation and support. Providers that enable automation through APIs and third-party tools like Terraform make it much easier to manage workloads.

Blockchain technology is attractive in many ways, as it can actually improve in many areas. Much is still unknown about it to the founders, but we believe it can change our world for the better. All that’s left is to put it into practice by creating amazing blockchain applications.


Raman Sharma, Vice President – Product Marketing at DigitalOcean

The post What Founders Should Keep in Mind When Building Their Blockchain Business appeared first on .

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PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP




PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP




When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).

Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.

Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.

Top Tier Crypto Makes its Mark – Cardano (ADA)

Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.

Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.




Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.

With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.

Making Waves – Ripple (XRP)

Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.

The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.

Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.

At the time of writing, it ranks number 6 on CoinMarketCap, making it a cryptocurrency to buy now.

The New Face Of Privacy – PrivaCrip (PRCR)

The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.

PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.

PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.

Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.

10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.

The Bottomline 

Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.

PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.

For more on PrivaCrip (PRCR), check below:





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Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange




Cardano Reaches “Important Milestone” on Road to Vasil Upgrade

Alex Dovbnya

Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year

Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.

The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.

Users will be able to withdraw ADA without paying any fees until mid-September.

Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.

At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.

As reported by U.Today, Bitrue introduced the token as its base currency back in February.

In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.

Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.

Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.

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WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M




Cardano Founder Charles Hoskinson Criticize SEC Cracking Down on Companies Outside Its Jurisdiction

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Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano. 

WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days. 

At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming  42% of TVL On Cardano. However, the DEX has fallen from glory ever since. 

Minswap Is Now Cardano’s Most Valuable DEX

The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped. 

cardano total value locked
Cardano total value locked

Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL. 

At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano. 

SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL. 

Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.

Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said: 

“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.” 

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