The biggest benefit of cryptocurrencies is, they don’t have a specific value like the traditional currencies. Either buy them from others in exchange for real money or create them on your own, their value entirely depends on the people involved in the chain. Apart from these, there isn’t any verification or monitoring of any of these transactions.
Cryptocurrencies – Benefits:
Most of us are concerned with the continuous checking on our accounts by the banks and other governing bodies. Blockchain transactions are entirely excluded from this scrutiny, for they are a decentralized network. Other advantages of blockchain or crypto transactions are as follows:
- We canuse these transactions to save a lot of money as there are no banking, processing, or any kind of additional charges for the crypto transactions.
- As the paperwork and related steps are not necessary, we can perform hassle-free transactions. The blockchain network processes are relatively faster, unlike the traditional banking processes.
- These transactions do not require any of the users’ private information or credentials. We can stay entirely anonymous throughout the process if we wish to.
- Crypto transactions use private keys to ensure high-end encryptions so that there is no compromise in the security of the chain or any unwanted interference from third parties.
Although the blockchain or crypto transactions are safe and beneficial, the wholly digital processing raises serious concerns. These chains can be easily decoded, and there can be a potential security breach. Ignoringthese can cost us very dearly. But we have the private keys, right? Aren’t we safe with them too?
Of course, private keys are the assurance to our crypto transactions, but they can be compromised too! Wonder how? Well, where do we save our data? Either in the smartphone or PC. We know that these devices can be easily taken over, which means we are losing out on our entire data.
Once our private keys are in the hands of others, we cannot imagine the damage awaiting us.Why worry about the keys’ safety alone? We have an excellent solution to carry out the blockchain transactions using a secure platform, that is, the tezos fundraiser.
Tezos Fundraiser – Features:
- Here, every one of us can take part in changing the blockchain network’s protocols. The tezos fundraiser has a systematic process for this purpose and for reaching a common agreement.
- The network protocol upgradation is very easy, and there is no need to divide the blockchain into two parts while changing. Through this, we find that the coordination and execution costs for protocol upgrades decrease to a great extent.
- If you do not wish to take part in the protocol change or any related process, there is a possibility to transfer these rights to others present on the network. Through this, you are giving a chance to the others to participate on your behalf.
- This platform decentralizes the network by allowing payments either to a certain group or an individual. We can notice a significant improvement in the protocols due to this decentralization.
- There is no scope to cheat while being on the tezos network as corrupt or dishonest participants lose their deposits. We are rewarded with incentives and bonuses for being honest.