The best thing about cryptocurrency is that there are few rules. Digital currencies and the ledgers that hold the transactions offer much more freedom than government-backed currencies, but come with fewer protections. The inspiration for the whole system has been to avoid bank fees and all the regulations that come with organized financial institutions. The downside is that there are endless possibilities for new solutions and no limits to creativity. THE BRIEF HISTORY OF BITCOIN AND ETHEREUM SHOWS THAT TAKING A HARD FORK IS ALWAYS AN OPTION. If you haven't been paying attention to these cryptocurrency-based virtual currencies traded on the blockchain, now is a good time to get up to speed.
How does cryptocurrency work
To own or pay for something in cryptocurrency, you need a wallet for that currency. A cryptocurrency wallet doesn't actually hold any currency; it simply provides an address for your funds on the blockchain. A cryptocurrency wallet also includes private and public keys that allow you to make secure transactions. You can buy or sell cryptocurrency in exchange for fiat currency using a cryptocurrency exchange. Exchanges, which can hold deposits in both fiat and cryptocurrencies, credit and debit the appropriate balances of buyers and sellers to complete cryptocurrency transactions.
You can also use cryptocurrency to buy something, such as a product or service. Each time you buy cryptocurrency or use it to make a purchase, you authorize the movement of a specified amount of cryptocurrency from your wallet address to the seller's wallet address. The transaction is encrypted with your private key and pushed to the blockchain.
What is Cardano
Cardano is an open source public blockchain platform that has its own cryptocurrency tokens called ADA. The network will also eventually support smart contracts, which are contracts that automatically execute their own terms or agreements. Today, more and more people are attracted to Cardano, which you can buy by credit card. The value ledger of the Cardano account is the Cardano settlement layer.
It is the part of the blockchain platform that hosts ADA. Its purpose is to improve some of the scaling issues that exist with Bitcoin, Ethereum and other first and second generation cryptocurrencies. It is also separately associated with the Cardano compute layer, which allows users to customize the rules of its transactions individually.
How to buy this Cardano currency
Although Cardano is a blockchain cryptocurrency network, you can't actually buy Cardano itself. Instead, you'll need to purchase ADA, the Cardano cryptocurrency token. While many see Cardano's main appeal as a platform that supports smart contracts, buying ADA can mean you make money if you expect Cardano's value to increase in the future. ADA is available on most major cryptocurrency exchanges.
You can also buy via SEPA bank transfer. Keep in mind that when you use a brokerage, you are not buying directly from the blockchain. Instead, you will need to fund your account with fiat currency in order to purchase ADA, unless you are paying with another cryptocurrency.
You'll want to store your ADA in a supported wallet, and Cardano specifically recommends two digital options. One is the Daedalus wallet, which operates and grows within the Cardano network. The organization also recommends the Yoroi wallet, a simple digital cryptocurrency wallet that can help keep your ADA safe. When it comes to storing your ADA in a digital wallet, be sure to remember how to access your wallet by writing down all passwords. If you lose the ability to access your wallet, you risk losing your cryptocurrency for good.
What makes this cryptocurrency different
The big difference of Cardano compared to other currencies is that it maintains a two-tier network, which allows for faster transaction processing time (similar to Dash) Cardano's multi-layer protocol performs advanced functions and has at its core a settlement layer that is linked to a control layer.
The settlement layer will have a unit of account, while the control layer will execute smart contracts and be programmed to recognize identity, which will help with compliance. It is also focused on protecting the privacy rights of users, while also considering the needs of regulators.
This is unique in the cryptocurrency space. Supporters of Cardano consider it one of the best potential currencies for mainstream adoption due to its regulator-friendly nature.
Where should I store my Cardano
All cryptocurrencies are stored in cryptocurrency wallets. Cryptocurrency wallets are physical devices as well as cell phone applications that are either specifically designed to hold one type of cryptocurrency, or you can store multiple cryptocurrencies in the same wallet. In addition, Cardano also offers its own wallet called Daedalus. So, if you're looking to store your Cardano Ada individually from the other crypto-currencies you own, you'll need to store them in the Daedalus wallet.
The third way to store Cardano Ada is to leave it in the wallet of the cryptocurrency exchange you purchased it from. Cardano has outlined a five-stage development roadmap for their future, named Byron, Shelley, Goguen, Basho and Voltaire. Byron, is completed and it allows users to purchase Ada at launch and store them on their own Daedalus wallet.
What is Clanity
Clanity is a blockchain technology hoping to return the power of finance to the end-users to promote financial inclusion. To simplify, Clanity wants to give the economic power back to the people. Clanity's goal is to create a community that supports each member through its contributions and create a community that thrives within its financial ecosystem or model.
Once Clanity is fully and universally adopted, a cycle will then be established through the platform, building self-sustaining communities, one town at a time, all over the world.
Our Plans For Clanity
Clanity plans to build a self-sustaining community worldwide by connecting businesses with their customers through our blockchain rewards and engagement program.
Clanity will have a Cardano native utility token with a worldwide use case and a high potential for world adoption. This token will be used to reward customers for performing transactions with our business partners.
Furthermore, business partners shall also use this token to create community engagement opportunities for the public and reward the public for engaging with the brand. In this way, Clanity shall utilize the latest advances in cryptography and distributed ledger technology to support local businesses and low-funded schools by creating rewarding and attractive loyalty/reward programs and community-business engagement opportunities.
Tokenomics
The Clanity tokens will use the Cardano blockchain. they aim to create a fixed supply of 1 billion Clanity tokens, out of which 60% (600 million) tokens shall be used to raise $50 million in funding. This funding shall be raised in three stages at different valuations, with the last being a crowd sale at $0.1/token.
The remaining 40% (400 million) tokens shall be utilized as reserves for network participation rewards by staking and providing liquidity.
Cardano, Clanity, and our B2C rewards program
Clanity aims to utilize the Carano blockchain and Cryptocurrency to help local businesses increase traffic, customer loyalty, and collaboration with other businesses with our B2C rewards program. Our program is based on a better philosophy to build customer loyalty by offering innovative value additions beyond any specific business scope.
Clanity rewards program consists of three main elements:
1. Customers gain rewards (in the form of Cryptocurrency) in return for transactions with our partner businesses. The business in return will gain advertising opportunities in our community.
2. Businesses share community engagement activities that will aid them in advertising and branding. When customers participate in these activities, customers earn rewards.
3. Holding a certain amount of tokens in their wallets shall enable consumers to further rewards.
Business & Features
Clanity plans to create beautifully designed platforms that are simple and easy to use yet very well architecture and robust for tech-savvy and non-technical users. Our platform shall have the following features:
- User-friendly design - Clanity will be designed to offer value to our users and encourage widespread use. Our sound design will create a sense of trust and smooth transaction between the product and users.
- Scalability and quick transaction time - Clanity plans to be widely adopted worldwide.
- Harnessing the power of Cardano means Clanity can process hundreds of transactions per second and maybe millions with the Ouroboros Hydra solution upgrade.
- Minimal transaction fees - Clanity understands that users' most significant concerns involve the transaction fees. We want Clanity to be worthwhile, so we have designed the tokens to have one of the lowest transaction fees compared to other cryptocurrencies.
- Trust and transparency – Clanity believes that trust and transparency create loyalty. Our features which include no third-party involvement and encrypted transaction records, lead to strong controls in this process. With such processes and controls in place, we can ensure the security and authenticity of your data.
- Security - We understand that the security of a token is essential. Our plan is for Clanity to be a more efficient and cheap way to interact between systems and use smart contracts most securely.
"Security goes hand in hand with adoption. Adoption goes hand in hand with usefulness. Usefulness is about the possibilities of using a network but also about the price of transactions and the time needed for settlement." - Underesearcher | Medium
Learn more about Clanity at www.clanity.com
