Step 5 – Open BitAddress and print your new paper wallet The final step will be to open the copy you have of BitAddress and create a paper wallet locally on your machine.
• Open private browsing in FireFox (right click -> “Open a New Private Window”) Type in the following in the address bar: file://cdrom/bitaddress . org-master/ Click on the link “BitAddress.org.html”
• Open private browsing in FireFox (right click -> “Open a New Private Window”) Type in the following in the address bar: file://cdrom/bitaddress . org-master/ Click on the link “BitAddress.org.html”
Create your paper wallet by moving the cursor around until the number on the top right reaches 100 Choose “Paper Wallet” from the menu
Choose how many copies you’d like to generate Add BIP38 encryption (optional) Print out your paper wallet
Choose how many copies you’d like to generate Add BIP38 encryption (optional) Print out your paper wallet
Why is this process considered secure?
•You’re not connected to the Internet while producing your private key.
•You’re using an “out of the box” operating system which reduced the chance for Malware.
•You are using an offline version of BitAddress so no one can hack it.
•You’re not connected to the Internet while producing your private key.
•You’re using an “out of the box” operating system which reduced the chance for Malware.
•You are using an offline version of BitAddress so no one can hack it.
How Do You Import a Paper Wallet into a Software Wallet?
When the time comes and you want to send Bitcoins from your paper wallet you’ll need to import the private key or seed into a software wallet.
While each wallet is different in its process the general idea remains the same:
Download a software wallet Click on “New Wallet” Import and existing seed / private key
Scan the QR for the private key of your paper wallet (this is much easier than typing the whole key)
Important! Do not do this process on a wallet that is already holding funds as it may override the current private key.
It’s best to download a new wallet / app and import for this process.
When the time comes and you want to send Bitcoins from your paper wallet you’ll need to import the private key or seed into a software wallet.
While each wallet is different in its process the general idea remains the same:
Download a software wallet Click on “New Wallet” Import and existing seed / private key
Scan the QR for the private key of your paper wallet (this is much easier than typing the whole key)
Important! Do not do this process on a wallet that is already holding funds as it may override the current private key.
It’s best to download a new wallet / app and import for this process.
Generations of Blockchain
1st Generation: In this category we put all the proof of work (POW) type of blockchain which require mining to generate new coins for example Bitcoin.
2nd Generation: Here we have heterogeneous blockchain based on Ethereum which utilizes tokens and smart contracts.
3rd Generation: Those platforms and blockchain’s which tried to resolve scalability and transaction processing issues faced in 2nd generation.
4th Generation: These blockchain has the best of 3rd generation features including faster consensus and transaction speeds.
5th Generation: Relictum pro position itself at fifth generation because of the features their platform posses. Lets take a brief overview of this platform
1st Generation: In this category we put all the proof of work (POW) type of blockchain which require mining to generate new coins for example Bitcoin.
2nd Generation: Here we have heterogeneous blockchain based on Ethereum which utilizes tokens and smart contracts.
3rd Generation: Those platforms and blockchain’s which tried to resolve scalability and transaction processing issues faced in 2nd generation.
4th Generation: These blockchain has the best of 3rd generation features including faster consensus and transaction speeds.
5th Generation: Relictum pro position itself at fifth generation because of the features their platform posses. Lets take a brief overview of this platform
Features of Rlictum Pro
• Cryptography — A custom made encryption algorithm.
• Network — Built their own node interaction principle.
• Smart-contracts — Have their own laboratory for all smart contracts.
• Relict Coin — The coin that is not subject to external economic and political influences.
• Newest block architecture — Unique architecture of chains and blocks, with hash in MasterChain and synchronization and sharing of information by parallel chains n-dimensional smart-contracts.
• Unique consensus algorithm — PoT (Proof of Tsar) with protection from hash collisions, nodes typing and their conditions.
• 8000 times smaller block size
• Capable of handling 1 Million transaction per second!
References
○ Website: https://relictum.pro/
○ Token sale : https://relictum.pro/partner-link/wvVDVWN
○ Medium: https://medium.com/@relictumpro
○ Whitepaper: https://relictum.pro/cabinet/docs/whitepaper_en.pdf
○ Telegram: https://t.me/Relictum_Pro_Official
○ Facebook: https://www.facebook.com/relictumpr/
○ Twitter: https://twitter.com/relictumpro
○ Youtube: ttps://www.youtube.com/channel/UCvj6aITqEO76WXPgwfjzfYw
• Cryptography — A custom made encryption algorithm.
• Network — Built their own node interaction principle.
• Smart-contracts — Have their own laboratory for all smart contracts.
• Relict Coin — The coin that is not subject to external economic and political influences.
• Newest block architecture — Unique architecture of chains and blocks, with hash in MasterChain and synchronization and sharing of information by parallel chains n-dimensional smart-contracts.
• Unique consensus algorithm — PoT (Proof of Tsar) with protection from hash collisions, nodes typing and their conditions.
• 8000 times smaller block size
• Capable of handling 1 Million transaction per second!
References
○ Website: https://relictum.pro/
○ Token sale : https://relictum.pro/partner-link/wvVDVWN
○ Medium: https://medium.com/@relictumpro
○ Whitepaper: https://relictum.pro/cabinet/docs/whitepaper_en.pdf
○ Telegram: https://t.me/Relictum_Pro_Official
○ Facebook: https://www.facebook.com/relictumpr/
○ Twitter: https://twitter.com/relictumpro
○ Youtube: ttps://www.youtube.com/channel/UCvj6aITqEO76WXPgwfjzfYw
Medium
Relictum Pro – Medium
Read writing from Relictum Pro on Medium. Relictum Pro is a blockchain of the latest generation. #Blockchain 5.0. Every day, Relictum Pro and thousands of other voices read, write, and share important stories on Medium.
CryptoCurrency A to Z pinned «Features of Rlictum Pro • Cryptography — A custom made encryption algorithm. • Network — Built their own node interaction principle. • Smart-contracts — Have their own laboratory for all smart contracts. • Relict Coin — The coin that is not subject to…»
What is smart contract?
Computer code that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to prespecified functions. The code can be stored and processed on a distributed ledger and would write any resulting change into the distributed ledger”
Smart contracts are as mentioned above simple computer programs working like “if-then” or “if-else if” statements.
The “smart” aspect about the same comes from the fact that the predefined inputs for the program comes from the blockchain ledger, which as proven above, is a secure and reliable source of recorded
Major types of smart contracts
Assuming the reader has a basic understanding of contracts and computer programming, and building on from our definition of smart contracts, we can roughly classify smart contracts and protocols into the following major categories.
Computer code that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to prespecified functions. The code can be stored and processed on a distributed ledger and would write any resulting change into the distributed ledger”
Smart contracts are as mentioned above simple computer programs working like “if-then” or “if-else if” statements.
The “smart” aspect about the same comes from the fact that the predefined inputs for the program comes from the blockchain ledger, which as proven above, is a secure and reliable source of recorded
Major types of smart contracts
Assuming the reader has a basic understanding of contracts and computer programming, and building on from our definition of smart contracts, we can roughly classify smart contracts and protocols into the following major categories.
1. SMART LEGAL CONTRACTS
These are presumably the most obvious kind. Most, if not, all contracts are legally enforceable. Without going into much technicalities, a smart legal contact is one that involves strict legal recourses in case parties involved in the same were to not fulfill their end of the bargain.
As previously mentioned, the current legal framework in different countries and contexts lack sufficient support for smart and automated contracts on the blockchain and their legal status is unclear.
These are presumably the most obvious kind. Most, if not, all contracts are legally enforceable. Without going into much technicalities, a smart legal contact is one that involves strict legal recourses in case parties involved in the same were to not fulfill their end of the bargain.
As previously mentioned, the current legal framework in different countries and contexts lack sufficient support for smart and automated contracts on the blockchain and their legal status is unclear.
2. DAO- Decentralized Autonomous Organizations
shortly DAO, can be loosely defined as communities that exist on the blockchain. The community may be defined by a set of rules arrived at and put into code via smart contracts. Every action by every participant would then be subject to these sets of rules with the task of enforcing and reaching at recourse in case of a break being left to the program.
Multitudes of smart contracts make up these rules and they work in tandem policing and watching over participants.
shortly DAO, can be loosely defined as communities that exist on the blockchain. The community may be defined by a set of rules arrived at and put into code via smart contracts. Every action by every participant would then be subject to these sets of rules with the task of enforcing and reaching at recourse in case of a break being left to the program.
Multitudes of smart contracts make up these rules and they work in tandem policing and watching over participants.
Famous Hack - story of Ethereum fork
A DAO called the Genesis DAO was created by Ethereum participants in may of 2016.
The community was meant to be a crowdfunding and venture capital platform. In a surprisingly short period of time they managed to raise an astounding $150 million. However, hacker(s) found loopholes in the system and managed to steal about $50 million dollars’ worth of Ethers from the crowdfund investors.
The hack and its fallout resulted in a fork of the Ethereum blockchain into two, Ethereum and Ethereum Classic
A DAO called the Genesis DAO was created by Ethereum participants in may of 2016.
The community was meant to be a crowdfunding and venture capital platform. In a surprisingly short period of time they managed to raise an astounding $150 million. However, hacker(s) found loopholes in the system and managed to steal about $50 million dollars’ worth of Ethers from the crowdfund investors.
The hack and its fallout resulted in a fork of the Ethereum blockchain into two, Ethereum and Ethereum Classic
3. Application LOGIC CONTRACTS (ALCS)
If you’ve heard about the internet of things in conjunction with the blockchain, chances are that the matter talked about Application logic contacts, shortly ALC.
Such smart contracts contain application specific code that work in conjunction with other smart contracts and programs on the blockchain. They aid in communicating with and validating
If you’ve heard about the internet of things in conjunction with the blockchain, chances are that the matter talked about Application logic contacts, shortly ALC.
Such smart contracts contain application specific code that work in conjunction with other smart contracts and programs on the blockchain. They aid in communicating with and validating
How smart contracts work
To simplify things, let’s proceed by taking an example.
John and Peter are two individuals debating about the scores in a football match.
They have conflicting views about the outcome with both of them supporting different teams (context). Since both of them need to go elsewhere and won’t be able to finish the match then, John bets that team A will beat team B in the match and offers Peter $100 in that case.
Peter considers and accepts the bet while making it clear that they are bound to the terms. However, neither of them trusts each other to honour the bet and they don’t have the time nor the money to appoint a third party to oversee the same.
Assuming both John and Peter were to use a smart contract platform such as Etherparty, to automatically settle the bet at the time of the contract negotiation, they’ll both link their blockchain based identities to the contract and set the terms, making it clear that as soon as the match is over, the program will find out who the winning side is and automatically credit the amount to the winners bank account from the losers. As soon as the match ends and media outlets report the same, the program will scour the internet for the prescribed sources, identify which team won, relate it to the terms of the contract, in this case since B won Peter gets the money from John and after intimating both the parties transfers $100 from John’s to Peter’s account.
After having executed, the smart contract will terminate and be inactive for all the time to come unless otherwise mentioned.
To simplify things, let’s proceed by taking an example.
John and Peter are two individuals debating about the scores in a football match.
They have conflicting views about the outcome with both of them supporting different teams (context). Since both of them need to go elsewhere and won’t be able to finish the match then, John bets that team A will beat team B in the match and offers Peter $100 in that case.
Peter considers and accepts the bet while making it clear that they are bound to the terms. However, neither of them trusts each other to honour the bet and they don’t have the time nor the money to appoint a third party to oversee the same.
Assuming both John and Peter were to use a smart contract platform such as Etherparty, to automatically settle the bet at the time of the contract negotiation, they’ll both link their blockchain based identities to the contract and set the terms, making it clear that as soon as the match is over, the program will find out who the winning side is and automatically credit the amount to the winners bank account from the losers. As soon as the match ends and media outlets report the same, the program will scour the internet for the prescribed sources, identify which team won, relate it to the terms of the contract, in this case since B won Peter gets the money from John and after intimating both the parties transfers $100 from John’s to Peter’s account.
After having executed, the smart contract will terminate and be inactive for all the time to come unless otherwise mentioned.
The use of a smart contract in this situation allowed the participants the following benefits:
•It was faster than getting together and settling the bet manually.
•Removed the issue of trust from the equation
•Eliminated the need for a trusted third party to handle the settlement on behalf of the parties involved.
Costed nothing to execute.
•Is secure in how it handles parameters and sensitive data.
•The associated data will remain in the blockchain platform they ran it on permanently and future bets can be placed on by calling the same function and giving it added inputs.
•Gradually over time, assuming John and Peter develop gambling addictions, the program will help them develop reliable statistics to gauge their winning streaks.
•It was faster than getting together and settling the bet manually.
•Removed the issue of trust from the equation
•Eliminated the need for a trusted third party to handle the settlement on behalf of the parties involved.
Costed nothing to execute.
•Is secure in how it handles parameters and sensitive data.
•The associated data will remain in the blockchain platform they ran it on permanently and future bets can be placed on by calling the same function and giving it added inputs.
•Gradually over time, assuming John and Peter develop gambling addictions, the program will help them develop reliable statistics to gauge their winning streaks.
FUN FACT : SECOND BEST ICO EVER
Ethereum is one of the best ICOS ever according ROI, but also has since grown into one of the largest blockchain projects in the market. The Ethereum project had its initial coin offering in the summer of 2014, where it sold 11.9 million Ether tokens to raise $16 million.
Ether’s issue price at the time of the crowdsale amounted to 0.311$, which is nothing contrasted to 1100$ we see today. The estimated return on investment on condition that you hodled all the years is 340,000.00%.
Only NXT is the ICO with a better ROI with astonishing 5,266,900.00%.
Ethereum is one of the best ICOS ever according ROI, but also has since grown into one of the largest blockchain projects in the market. The Ethereum project had its initial coin offering in the summer of 2014, where it sold 11.9 million Ether tokens to raise $16 million.
Ether’s issue price at the time of the crowdsale amounted to 0.311$, which is nothing contrasted to 1100$ we see today. The estimated return on investment on condition that you hodled all the years is 340,000.00%.
Only NXT is the ICO with a better ROI with astonishing 5,266,900.00%.
Fun Fact : CRYPTOKITTIES
CryptoKitties are collectible and breedable digital cats. It’s the world’s first game built on the Ethereum network. When two CryptoKitties breed, their offspring’s appearance and cattributes are determined by each parent’s 256-bit genome and an element of chance, leading to 4-billion possible genetic variations.
The most expensive cats are sold over 100k $
www.cryptokitties.co
CryptoKitties are collectible and breedable digital cats. It’s the world’s first game built on the Ethereum network. When two CryptoKitties breed, their offspring’s appearance and cattributes are determined by each parent’s 256-bit genome and an element of chance, leading to 4-billion possible genetic variations.
The most expensive cats are sold over 100k $
www.cryptokitties.co