Topic: [SPA] SPARTA – A Proof-of-Stake Cryptocurrency. Simple. Fast. Reliable. - page 8. (Read 3460 times)

Tips from SPARTA:     
Inheritance Planning for Cryptocurrencies
 
Unfortunately, life is unpredictable and nobody's insured against a sudden death — even if it sounds harsh. There's already been a lot of cases when people died in accidents, and their next of kin couldn't access cryptocurrencies owned by the deceased because they did not know private keys to wallets or passwords on cryptocurrency exchanges. Consequently, a lot of coins are simply lost forever.  This issue is just as burning with SPARTA.
 
Does it mean that private keys and passwords must be deliberately communicated to the family?
 
We certainly don't imply you must do just that — your keys and passwords must remain confidential, after all. Life presents us with various situations, and sometimes we have to be wary of the people closest to us. Summing up, in this case the owner of cryptocurrency is the only person making the decision as to whether they can trust their family or not.
 
What would be the right thing to do?
 
We believe that today, when the blockchain technology hasn't yet become ingrained in our everyday lives, the most sensible options would be:
 

• Note down your cryptocurrency access data on paper.
• Store it in a secure safe or a safe-deposit box.
• Hold on to the key to the safe or the safe-deposit box.
• Give directions to the bank to grant access to the safe-deposit box to you and designated persons only. It ensures strangers cannot access the vault even if they could get hold of the key.
• Make a will and leave it with a trusted person:  attorney, notary, etc.
• Attach the key to the safe or the safe-deposit box to the will.

Why are these options the most sensible today?  It's because most countries have not yet introduced legal regulations for cryptocurrencies, with their status still uncertain. This is why your family may encounter legal issues if there is no will. Hacking into the system is impossible — no one will be eager to do it meaning that all savings in cryptocurrencies will just remain on the accounts of the deceased. Therefore, it wouldn’t hurt to have a safety net in the form of a will if you want your coins to be inherited by your family upon your demise.

What is Halving in the Cryptocurrency Network?
 
Miners are rewarded with newly created coins for network support and maintenance. Coins are awarded to the miner who creates the block. The reward is fixed — miners earn a certain amount of coins for each created block.  In the SPARTA network, this amount currently equals 8,000 coins per block.
 
However, to protect the network against inflation, the amount of coins released is cut precisely in half over time.  It also means that the reward miners receive for block generation also falls by 50%.  This process is dubbed “halving”.
 
Halving in Bitcoin and SPARTA
 
Thus, the bitcoin network has already experienced two halving events — in 2012 and 2016.   Initially, miners were paid 50 ВТС per block, but in 2012 this amount went down to 25 ВТС, and in 2016 — to 12.5 ВТС.  The next halving event in the bitcoin network is scheduled for 2020 when the reward drops to 6.25 ВТС.
 
However, the ever-growing price of bitcoin keeps miners' earnings high, despite halving.  Halving is largely responsible for the rising price since less new coins are released into circulation, thus becoming more valuable. 
 
 The SPARTA network will use halving, too.  The first halving event will happen after 4 bln coins are mined.  The second halving event will follow mining of 6 bln coins.  Currently, the number of SPA coins is a little over 2 bln.
 
For a complete table, please go to https://sparta.top/about-sparta.html

Can the Blockchain Technology Ensure Election Fairness?
 
Election fairness is a pressing issue in many countries. Candidates try to use a variety of ways to manipulate the voting meaning that elections are quite often biased.
 
SPARTA intends to develop the blockchain technology and build fair relationships between people — with no intermediaries. Let's have a look at how the blockchain can solve the election problem.
 
Blockchain-powered elections = no fraud + transparency
 
The problem is that the main idea behind the elections hasn't changed for a long time: voters come to a voting station, make a mark on a piece of paper and cast this ballot into a special box. Voting may be rigged at any stage of the process. Voters may also be intimidated or forced to provide proof they have voted the “right” way.
 
After ballots are collected, voters have no knowledge of and no way of knowing what happens next. They are simply presented with the ultimate result and cannot make sure vote counting is fair. Election observers and CCTV are of little help if someone has set out to deceive the voters.
 
The only right choice in this case is eliminating the very possibility of unfair elections.    Blockchain can be used to do just that as it has two fundamental characteristics: transaction irreversibility and unhackable nature of the block sequence.
 
How will blockchain-powered elections unfold?
 
Blockchain-based elections could proceed as follows:  citizens are provided with special unvalued coins by the election commission. This is a special ballot. A voter will transfer this coin to the account of the candidate they trust. No one can interfere with the blockchain at any stage, a vote cannot be recalled, double voting is out of the question. At the end of the election, the blockchain network reveals which candidate has the highest score. Fraud and election rigging is out of the question due to the technical characteristics of blockchain rather than to the sudden honesty of election commission members.
 
Most importantly, voting is truly anonymous.  Not even members of the election commission can find out who voted for who — blockchain experts have had great success in ensuring transaction anonymity, and using their expertise for election purposes shouldn't be a problem.
 
By buying and promoting SPARTA, you're making a contribution into developing the blockchain technology and cryptocurrencies in general. Our mission is helping people. We will regularly publish similar articles about how blockchain and SPARTA can change the world.

Mempool and transaction processing
 
The mempool is a holding area for all the pending transactions that are awaiting approval by a cryptocurrency miner. It is a kind of center accumulating all unconfirmed transactions and arranging which of them will get confirmed first and which one will be the next.
 
How it works
 
All nodes in the network have a different capacity to store unconfirmed transactions. Every new transaction is automatically added to the mempool, where it awaits confirmations from miners Once cryptocurrency miner picks it up and includes it in the next block, the transaction gets confirmed and leaves the mempool for its final destination.
                                                                                                                      
If the network is not overloaded miners confirm transactions in the order they are registered. It doesn't take much time. But when the mempool is overloaded, miners will include a transaction with a high fee rather than a transaction with a much lower fee.  It turned out to be a big problem for Bitcoin and other cryptocurrencies at the end of the last year, when Bitcoin transaction fee reached a high of around $40.
 
Why did it happen? The surge in fees was a matter of bitcoin's price growth in 2017 which caused the overload of the network.  The demand for cryptocurrencies was so high that the networks couldn't cope with the overload.
 
SPARTA mempool
 
As for SPARTA mempool, the network can processe over 1,278,720 transactions per day, which means you can send money anywhere in the world quickly for a minimal fee. It is a matter of high network capacity, which is a lot higher than the one in the Bitcoin network.
 
A new block including as many as 888 transactions is generated each minute (10 times faster than in Bitcoin) which allows SPARTA avoid the network overload and surge in fees. SPARTA can process transactions instantly even in the event of increased load.

Seems an interesting idea and a brave move to deploy a dividend paying token in a context of trading platform.
egretia

SPARTA can be used as a payment system to make transfers using SPA coins. Learn more on our website https://sparta.top/about-sparta.html

Blockchain as an anti-counterfeit solution
 
SPARTA intends to help blockchain technology develop and build fair financial relationship among people.  Counterfeit goods is a serious problem that is prevalent across the globe.  The problem has arisen as a result of a lack of a well-organized quality control mechanism that cannot be circumvented.  Blockchain can solve this problem.
 
What is the problem?
 
Both developed and developing countries have seen many instances of food, medicine and auto parts fraud, which poses as one of the biggest issues threatening consumers’ health and life. According to Walmart, the largest American retail corporation, in 2006, contaminated spinach killed 5 people and sickened 205 others in the USA. In Russia, where counterfeit car parts reach 50% in the market, fake automotive parts are responsible for an uncountable number of accidents. There are numerous examples worldwide.
 
What is the solution?
 
IBM Research predicts that blockchain technology will solve this problem within 5 years.
 
Wlamart is conducting a pilot program applying blockchain to trace a package of mangoes. It would take more than a week to collect data of authenticity of mangoes, using traditional methods. With blockchain technology, the process of tracing all supply chain is reduced to seconds. Blockchain takes to trace mangoes in the farm where farmers insert the data of the package in the mobile application Blockchain will track products at every step of the production and sales process.  The information is made available to anyone. As once recorded, the information on the blockchain cannot be altered. It means no one will be able to avoid responsibility or shift the blame onto others.
 
Thus, blockchain can track and verify authenticity of any product, not only food. On top of it, it will exclude smugglers and illegally produced goods from supply chain, which in turn will win back a profit for fair businesses.

It looks like amazon or ebay but a payment is performed with your tokens or I do not understand something?

Cryptocurrency as a way to make a fortune
 
Most people still have mixed feelings about cryptocurrency today as compared two years back when the attitude toward a new form of money used to be mostly negative. Cryptocurrency is becoming more firmly rooted in our lives, and a lot of people have come to realize that they can make a fortune on digital money.
 
Investing
 
A lot of people focus on high volatility of cryptocurrencies. In other words, their value can collapse, precipitously and very rapidly. However, those regarding cryptocurrencies as long-term investments know that despite price drop in a short period of time, over the long term, the price of cryptocurrencies is constantly on the rise.
 
That is enough to look at the price charts of cryptocurrencies developing over 2-3 years. So in most cases, a long-term investor will win anyway.  Investing in cryptocurrencies is a real way to make profit.
 
Trading
 
People trade cryptocurrencies for a simple reason: to buy cryptocurrency at a low price, and to sell it at a profit. The final coin price doesn't matter for traders - they don't expect the coin to be worth a million.  The make money on the difference between the purchasing and selling price.
 
Trading is a real way to make a fortune as cryptocurrency price can change significantly with each passing hour. Some traders buy/sell cryptocurrencies in one exchange, others buy cryptocurrencies in one exchange, and then sell them in another one because cryptocurrencies have different prices in different exchanges.
 
Cryptocurrencies give us a good opportunity to get rich.  It is an undeniable fact that has been confirmed by a lot of traders over several years.  But one should be thorough and reasonable about making money off cryptocurrencies.

SPARTA will allow technology of cryptocurrency more easily and to become quickly a part of our life!

What our logo stands for
 
“S” links directly to the name “SPARTA”.  It also stands for “SUPER”, as in everybody's favorite hero, Superman. Unlike Superman, SPARTA's calling is not to fight villains in the streets, but rather to defeat an unjust financial system and build new financial relations.
 
Moreover, the “S” is inside a circle. The circle symbolizes SPARTA's easy availability and the team spirit among the system's members. This is our way of showing the strength and unity of a decentralized system.

SPARTA brand colors
Our brand colors are blue and green. Why did we choose these colors?

• Blue is the color of good luck, a symbol of eternity and the sky. It represents loyalty, openness, stability, kindness, and good fortune. It is the color of stability and serenity.
• Green is a blend of blue and yellow. On the one hand, it represents infinite power. On the other hand, it means overwhelming tranquility. Everyone instinctively perceives green as the color of growth, development, harmony, and vitality. It symbolizes peace, progress and safety.

   
We chose these colors because we want to show that people are capable of forging a stable and peaceful future for themselves based on kindness and honesty.

Everyone has a chance to grow without depending on anyone else, to achieve success and manage their own assets. We believe that blue and green represent the beginning of a new decentralized world that is — best of all — just and honest.

How to use a cryptocurrency ATM
 
A cryptocurrency ATM is much like the traditional ATM but used for operations with cryptocurrencies.  Since the first cryptocurrency ATMs were created specifically to transact with Bitcoin, the world's first cryptocurrency, they are commonly named as Bitcoin ATMs or Bitcoin terminals.
 
In the future, SPARTA intend to develop its own crypto-ATMs so we would like focus on this topic.
 
What cryptocurrency ATMs are for
 
Cryptocurrency ATMs allow customers to purchase cryptocurrency in an easy and convenient way. Buying cryptocurrencies on exchanges can be a tough part for those having no time and desire to deal with registration and verification stuff. With the crypto-ATM, you can buy a cryptocurrency in no time. A customer must enter his or her wallet address and insert cash then a cryptocurrency bought at the current exchange rate goes directly into the wallet
 
Types of cryptocurrency ATMs
 
There are two types of cryptocurrency ATMs:

• a one way type which allows customers to purchase digital money for cash,
• and  a two way machine used both for purchase and sale of digital money.

With the help of crypto-ATMs, one can easily convert cryptocurrencies into fiat money. Besides, there are multi-functional machines which allow customers not only to buy/sell cryptocurrencies but pay for goods and services and access their account.
 
Some cryptocurrency ATMs are synced with exchanges and allow cryptocurrency enthusiasts to create accounts and complete transactions through exchanges.
 
The number and variety of cryptocurrency ATMs are on the rise. A while ago, with the first cryptocurrency ATMs, all users needed to do to proceed is to enter their phone number. Now, most of Bitcoin ATMs asks their users to scan their wallet QR code or enter a verification code sent to their mobile number to complete the operation. The most advanced machines are equipped with a fingerprint scanner.

How does a mnemonic phrase work?

The mnemonic phrase used to access to the SPARTA wallet secures your wallet from malicious attacks.

How a mnemonic phrase works:

A mnemonic phrase, or mnemonic seed is a set of random words, with each of them assigned to a number. A wallet owner needs to know the words only. The mnemonic phrase ensures that you will always be able to restore your wallet

An example of a mnemonic phrase - force silence flight coward silent peace party drink trust weary doom also. This passphrase will work as your login and password to your wallet.

How to store a mnemonic phrase

In the SPARTA network, the wallet itself generates a mnemonic phrase and instructs the wallet owner that it is very important to memorize the phrase and keep it in a safe location, preferably on various media, including printed on paper.. This phrase must be kept hidden in a secure location but one should never forget where this location is.

The best way of storing mnemonic phrases is memorizing or writing them down on paper with pencil. It is not recommended to split up the phrase and store in two different places. Adding random decoy words is also a bad idea. For convenience, you can put your recovery phrase in a new USD driver or a computer that has no access to the Internet. What is really important is to make at least one copy of your mnemonic phrase Why? In case you lose a media, paper, etc., you will always have the opportunity to restore your wallet.

Thank you. The SPARTA team is working on the development of the project.

What would you like to learn more about?

SPARTA is based on Proof-of-Stake which is why supporting the operation of the network doesn’t require enormous electricity consumption. SPARTA uses an environmentally friendly technology which means conventional computers can support the network. Thus, there is no sense in additional power stations.

What influences cryptocurrency price

We are well aware that cryptocurrencies often change in price - one day they fall below all the psychological marks, another day - rise, as experienced traders say, “To The Moon”. Why is it so?

• One of the significant factors is the cryptocurrency users’ reaction to the events that take place around the cryptocurrency market. Many have long noticed that after some positive news the cryptocurrencies price literally skyrockets. 
• Negative news may also affect the price. For example, a hacking theft of Japanese exchange Coincheck early in 2018 led to a sharp drop in cryptocurrency prices, which, possibly, triggered the long downturn in the cryptocurrency market as a whole. Of course, this decline came with a bunch of other negative news.
• In a long-term perspective, the price of cryptocurrencies has been affected by the balance of demand and supply for them. If to observe the price dynamic of the TOP cryptocurrencies since they first emerged, it is possible to see that it has been constantly growing. There are periods of a severe downturn, drastic and prolonged price decline; but cryptocurrencies still become increasingly more expensive from year to year. Therefore investors, who look forward to the long term, have practically no interest in short-term ups and downs of prices.

Yes, there is the right general approach perhaps, if you buy all the coins in a small number of projects say 20-30 projects. The main thing that was more or less normal and the idea of ​​working team. Then I think positive result will still be in the future. This project is possible in the future will have good success.

Can you give me more information about this? Much better with pictures for a clear description. It should be more interesting, shouldn't it.