Apr 20,2018 at 08:13 am
Apr 19,2018 at 06:01 am
Two Factor Authentication, also known as 2FA, two step verification or TFA (as an acronym), is an extra layer of security that is known as "multi factor authentication" that requires not only a password and username but also something that only that user has on them, i.e. a piece of information only they should know or have immediately to hand - such as a physical token.
In the world of increasing digital crime and internet fraud many people will be highly familiar with the importance of securing their online datas, logins, usernames and passwords but if you ask them the question "Have You Considered Two Factor Authentication?" the likelihood is they will not know what it is or how it works, even though they may use it every single day.
Using a username and password together with a piece of information that only the user knows makes it harder for potential intruders to gain access and steal that person's personal data or identity.
Using a Two Factor Authentication process can help to lower the number of cases of identity theft on the Internet, as well as phishing via email, because the criminal would need more than just the users name and password details.
Chronically, two-factor authentication is not a new invention but its use has become far more prevalent with the digital age we now live in. Recently major online platform such as Google, MSN and Yahoo announced the use of two factor authentication for their users.
Using Two Factor Authentication without tokens is called Tokenless Authentication. This type of authentication can be considered faster, quicker and cheaper to set up and maintain across many networks.
The good news is that Two Factor Authentication is now fully functional to all users on Arkonix Mining Platform, now you can enhance your account security and 2FA can also be enabled for withdrawals confirmation.
Apr 18,2018 at 06:44 am
The major purpose of Ethereum is to be a platform on which smart contracts can run. Now the question is, what are smart contracts? Let’s explain with a basic example of what Ethereum might be able to do in future.
Ethereum aims to make everyday life more efficient and cost effective by automating everyday processes and removing middlemen from the systems we use.
This could be to the financial system, the legal system, computer systems or more.
To substantiate further, let’s assume Dale has the following documents stored on the Ethereum blockchain: his land documents, his identity, and the title deed for his house. Dale had put up his land for sale and he's going to sell to his best friend Shawn. The transaction took place and also uploaded to the blockchain.
The processes that must occur to transfer Dale's land are admin intensive because there are several parties involved that are often slow and opaque. This may include legal professionals, the government, tax authorities and the property registrar.
However, because all these documents are stored on the Ethereum blockchain, something fantastic and interesting is possible. Once the payment documents is officially issued and uploaded to the blockchain, ownership to the land can be transferred to Shawn automatically by the Ethereum network.
Therefore, Shawn becomes a land owner without having to contact a legal professional.
You might conclude this is pretty overwhelming and scary but the amount of time and resources saved by not having to wait for legal professionals and the property registrar to come into contact with each other and prepare and execute this transaction is immense.
Do you think smart contracts will make life easy?
To read more about the difference between Ethereum and Bitcoin, read our previous blogs and Share to educate others.
Apr 16,2018 at 03:02 am
Safely storing your Bitcoin is very important. Unlike other types of money that is controlled by banks, with Crypto-Currency you have many more options on how to store and control your money.
Can you remember your private key that you need to move your Money? Well that is literally the key to storing it. Whoever has the key controls the Digital currency. These keys can be either in digital or even in physical format i.e. written down on a piece of paper.?
So how do you store your private key? Leaving the key in your pocket won't keep it secured. You can put it in a safe - that’s a lot better. But someone can still break into your house and steal it. Given you want to use your Bitcoin regularly, you might also want to put some or all of it in a digital version on your phone so you can access it easier. The only problem is that if you lose your phone it means you will also lose your key, and there is no way to get it back.
Here are two options to secure your digital money; First, the email storage. Since private keys contain long text files, you can get Smarter by securing it in your email while it's tagged with a special code name to help you remember whenever you need to access it. It doesn't need to make sense as long as it serves it purpose.
Secondly, the way to store Bitcoin is also on of the it's biggest irony, private keys can be more secured in the bank. Our modern day banking offers series of services that allows you store important documents and accets offline in a physical bank vault completely detached from the internet.?
Apr 15,2018 at 11:53 am
The Blockchain technology that powers bitcoin can be difficult to comprehend. It is a digital ledger platform that verifies identities and transactions through a secure digital network of records. It’s especially secure because it generates multiple records stored in a decentralized manner.
In fact, blockchain empowers people to trade and transact more, because they can be sure who they’re trading with, as well as the origins of the thing they’re trading, dating back to its inception. They can even generate new things to securely trade, from their time to virtual cats.
Bitcoin and other cryptocurrencies are just the beginning of how blockchain can be used for transactions and tracking.
There's more to be revealed about blockchain technology in up coming posts. So stay with us and Share our inspiring News and Articles with others.