Tag Archives: cryptocurrency

cryptocurrency tablet

Impact of DeFi on the Cryptocurrency market of 2021

Short for decentralized finance, DeFi is a new wave taking over the world’s financial market; the cryptocurrency world. DeFi is the conception that entrepreneurs can provide traditional financial institutions functions through a decentralized medium. There are cryptocurrencies like Bitcoin and Ethereum, the former of which has been causing significant ripples in the crypto-world since the last quarter of 2020 and the beginning of this year.

Although Bitcoin and Ethereum are the forerunners of DeFi, newer and somewhat better altcoins are coming into view. An example is Dai, a bitcoin-resembling digital token that hopes to remain independent of the world’s central banks’ influence. Unlike centralized finance and traditional banks, DeFi takes away all the cumbersome operations, go-betweens, and high costs often involved. This it does via smart contracts and to the benefit of the end-user. The closure of many industries during this era of the COVID-19 pandemic has served as a wake-up call to consumers of fiat currencies on the futility and loss of value of such coins.

This wake-up call has been occurring in places where the government has been pumping more money into their economies even though they have taxes to be paid. Such practices make the value of such currencies questionable. As a result of such act, fiat currencies’ values have been seen to fluctuate and fall considerably, often leading to inflation. An example is in Venezuela’s economy where inflation has risen by more than 1,000,000% due to the influx and pumping of more bills into the economy.

Often, the influx of newly minted bills into the economy does not mean these bills will get to such currencies’ end-users. These often serve as injections into the banking sector. But when they come as benefit checks and government aids, this inflation in money supply results in taxes. Also, they help boost the stock market and the stocks of the top 1%, rather than help the thousands and millions of individuals and businesses that need such aids.

The Impact of DeFi in the cryptocurrency market

The increasing dissatisfaction and discontent with traditional banks and centralized financial systems are momentous. The high availability of information about the growing offers in the crypto sector is finally providing people with better alternatives to traditional banks. These alternatives come in the form of DeFi (decentralized finance) where people can now take part in a mode of operation that will work for them. This means that people’s money will now work for them instead of the other way round.

Investing in the cryptocurrency market is becoming more comfortable and more widespread than when it first emerged with Bitcoin as its forerunner. As the first DeFi system, this paved the way for other altcoins, including Ethereum, Tether, Polkadot, XRP, and Cardano. These cryptocurrencies have come a long way and have become potential collaterals when taking out traditional bank loans. These loans can be collected regardless of what your credit score is. They serve as a way of getting cash when you need it irrespective of the availability of physical collateral.

The influence of cryptocurrency is rising steadily in developing countries where inflations often caused by government policies and central bank cash injections result in the loss of value of people’s savings and business capitals. Buying and investing in DeFi systems has provided a remedy to that, whereby the value of fiat currencies that have been converted to cryptocurrencies experience growth and provide means of decentralized financial transactions with relatively low costs from traditional banks.

Opportunities and Growth

The opportunities created by cryptos seem even better in developed countries. Large amounts of money are readily available and can be invested in trusted cryptosystems where stable profit and immense gain are assured. This steady return has been made evident in Bitcoin and Bitcoin price prediction, which has been steadily increasing more than fiat currencies. Its independence from centralized financial systems has served as a contributing factor rather than a deterring factor.

Amidst the use of DeFi systems by individuals and some businesses, there is a need to increase its development and efficiency to encourage its adoption by institutions. Through this, the DeFi industry will rise from the position now as a Billion-dollar transaction pathway to a trillion-dollar one, where the costs of transactions go down while profits and investment increase. This aim of getting institutions into the DeFi industry is already in motion. Individuals and groups are coming together to develop decentralized financial apps that are better and more decentralized than their forerunner. Such a better DeFi system could come in the form of large and small security circles where a single user cannot overturn the currency’s stability, and a central body cannot determine a price change.

With this growth in the use of DeFi systems and the coming in of institutions into the crypto market, real-world assets can be brought into the blockchain, which will help and promote the growth of DeFi. This would include transferring trillions of fiat currencies and precious stones such as gold or silver onto the blockchain. And their movement can be done at the cost of no more than a nickel and no intermediary fees and liquidity limits. With DeFi as an alternative to centralized financial systems, governments will have little to no control over the wealth that cannot be generated by individuals that make use of the system.

Conclusion

With the growth of decentralized financial systems in the last two decades, the move from fiat currencies to cryptocurrencies seems irreversible. And that’s a good thing since, through DeFi systems, the distribution of wealth among crypto-users can be regularized and stabilized. This would ensure equal wealth distribution on the platform, which can only be influenced by cryptocurrency owners when they invest more fiat currency into the platform.

 

BIO John Edwards
John Edwards is a writing specialist who works at The Writing Judge. He is looking for ways of self-development in the field of writing and blogging. New horizons in his beloved business always attract with their varieties of opportunities. Therefore, it is so important for him to do the writing.

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Satoshi

Generation X vs. Generation Y | Adopting Cryptocurrencies

The world’s financial institutions are currently observing a vast digital ecosystem being expanded with reports for new digital currencies akin to the likes of cryptocurrencies to be launched soon. While these CBDCs (central bank digital currencies) are proclaimed not to harm or replace cash and other forms of legal tenders, we cannot help but talk about the ones instigating the change.

Cryptocurrency became popular since the launch of Bitcoin back in Jan 3rd, 2009. Ever since then, cryptocurrencies have seen a rise in popularity amongst the masses.

According to a recent study by Tech Jury, the cryptocurrency market cap has reached $265.545 billion as of May 2020. By 2023, the global blockchain market is expected to reach $23.3 billion. Furthermore, Bitcoin alone accounts for $6 billion of daily online transactions.

Moreover, cryptocurrency users have exceeded 40 million globally. In light, of this information, let’s take a quick look at how Millennials compare to Generation X when it comes to adopting cryptocurrencies.

Generation X

Generation X is widely regarded as the generation that followed Baby Boomers and preceded Millennials. Their age groups range from 40 to 55 years old as of 2020. Here is how Generation X is reacting towards cryptocurrency:

  • Investment Growth among Boomers & Gen X

While Millennials are regarded as the prime suspects for capitalizing on the crypto market, surprisingly both Baby Boomers and Gen X are being currently observed to closely follow the trends.

Hence in recent years, many sources have cited an increase in investment of cryptocurrency as both Boomers and Generation X take charge to close the gap. In some cases, they were also found to have more than doubled their investments.

 

  • Month on Month Growth

It seems like the word of mouth and awareness about cryptocurrency is spreading like wildfire as Generation X is seen to understand the value and find blockchain as a reliable security measure. Understanding the benefits of fast and instantaneous transactions, the group of disaffected people and entrepreneurs is already showing signs of crypto is affecting their thinking for the future.

Reports are coming in, showing an evident increase and Month on Month growth patterns. According to a study by Mode Banking, both Baby Boomers and Gen-X have shown a trend of increasing their investment in cryptocurrency by over 100%, especially during the COVID-19 pandemic.

  • Wealth Protection & Asset Diversification

With the current economy ridiculed by the pandemic, the growing fear for wealth protection has led Baby Boomers and those belonging from Gen-X to invest in resources that can allow for asset diversification. Cryptocurrency so far has been observed as the most favorable type of investment to safeguard personal wealth.

Generation Y

Otherwise known as Millennials, Generation Y is widely regarded as the generation succeeding Gen-X and Baby Boomers. Their age groups range from 24 to 39 years of age. Often regarded as the parents of Generation Alpha (like my darling son!) they were born into a world that as quickly becoming familiarized with the internet, mobile devices, and social media.

  • Growth of Alternative Asset

Millennials view of cryptocurrency is that of an alternative asset. Surprisingly not many of us want to invest in stocks and are more interested in assets that are backed by technologies. According to a recent study by Coin Telegraph, Millennials are three times more likely to invest in cryptocurrency as compared to Generation X. Furthermore, 9% of Millennials chose crypto as their long-term investment option.

Students applying for and seeking dissertation assistance are also looking for ways to invest alternative asset that can help secure their personal wealth for the future. It is important to note here that while both real estate and stocks are also good options for Millennials, they are currently dominated by Baby Boomers in the present times.

  • Shifting Presence for Everything Digital

Studies from different financial institutions and digital currency markets are coming in showcasing Millennials as a driving force for the adoption of Bitcoin for years to come. Zac Prince, the CEO and founder of BlockFi, identifies a major trend for Millennials where they seek everything digital.

Furthermore, with Bitcoin reaching its all-time high and pushing over $23,000 per coin as of Dec 17, 2020, who can blame Millennials for making the right choice so far!

  • Wealth Transfer to the Young

There is a Japanese idiom that states the next generation as the actual king of the world. Come to think of it this world will always belong to the next generation that is how our life expectancy is all about. We may get to live 100 years, but eventually, the circle of life catches up to us. As we depart, the new generation takes to the throne.

For countless eras, this is how wealth has been passed down from old to the young. Currently, Millennials are in the process to take control and eventually move Boomers out to take their seat on the ruling chair. This transfer of power and wealth on a massive scale will indefinitely cause investment in cryptocurrency to rise by a tremendous rate.

Conclusion

Cryptocurrency is on the rise with Bitcoin riding the tidal wave in recent times. Not only digital assets and crypto are skyrocketing, but even the BIS (Bank of International Settlements) is also considering launching digital currencies with the help of IMF and 60 central bank members.

Someone really has to be blind enough to not see how things are rapidly changing and converging towards digital resilience. So far Millennials and Gen-X have shown their growing interest in adopting cryptocurrencies with Boomers lagging behind to catch up on the trend.

Author Bio

Samantha Kaylee currently works as an Assistant Editor at Crowd Writer. This is where higher education students can acquire literature review writing service UK from professionals specializing in their field of study. During her free time, she likes to catch up on all the latest tech developments happening across the globe.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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HolyTransaction Staking Wallet DeFi

Earn Interest With a HolyTransaction Cryptocurrency Savings Account

HolyTransaction Staking Wallet DeFi

Decentralized finance is quite literally taking the entire blockchain industry by storm.

After a relatively slow buildup over the past few years, the spotlight has well and truly fallen on the cryptocurrency space’s ability to do what traditional finance does — but better.

HolyTransaction, the world’s most trusted cryptocurrency web wallet, is making access to DeFi solutions available to all of its users starting now.

How? HolyTransaction developers have integrated DeFi savings accounts for stablecoins into HolyTransaction web wallets.

If the whole decentralized finance thing is new to you, and you’re having trouble understanding the importance of cryptocurrency savings accounts with stablecoins, then read on!

Decentralized Finance (#DeFi) Explained

Blockchain has promised to do a lot over the years.

However, at the end of the day, its first and best use case going back to the invention of Bitcoin is, and has always been, money.

If you’re looking for a one-liner, it’s this:

Cryptocurrencies do it better.

So, why shouldn’t cryptocurrencies one-up the traditional financial industry?

Decentralized finance refers to blockchain-based protocols that enable peer-to-peer financial solutions like loans and, yes, savings accounts. Anything the traditional financial industry offers via institutions like banks, you will soon be doing in a decentralized manner without third parties at all.

A Quick Guide to Stablecoins

The truly clutch tool in the development of the #DeFi industry has been the stablecoin, a workhorse digital asset used to minimize value volatility by pinning a cryptocurrency’s worth to an outside asset.

Some stablecoins, like Tether (USDT), pin their value to government currencies such as the US dollar. To maintain value, $1 is stored in a reserve for every 1 USDT circulating in the open market.

Other stablecoins peg their value to assets like gold, oil, and electricity.

Today, stablecoins are gaining immense popularity as digitally-native alternatives to slow, centralized, and costly to use fiat currencies like the EUR, RUB, USD, and YEN.

HolyTransaction Interest-Generating Cryptocurrency Savings Accounts

When using traditional banking savings account solutions, you’ve probably noticed that APY rates are pretty low.

Even so-called high yield accounts don’t yield much with limits as low as 0.5%.

Decentralized finance is changing that. By removing third parties from banking scenarios, you can often earn as much as 3% APY by keeping your stablecoins in an interest-generating crypto savings account.

The great news is HolyTransaction has integrated such interest-earning features directly into its trusted cryptocurrency web wallets.

With HolyTransaction, there is no need to download, install, or otherwise figure out another piece of software.

Instead, you can use your HolyTransaction cryptocurrency web wallet directly via the web, allowing you to get started generating rewards on your stablecoins right away.

If you’re concerned about a learning curve of some kind — worry not.

Using a DeFi savings account is the same as using a basic cryptocurrency wallet. Just deposit your stablecoins, click on “stake” and you’re good to go — the longer you store them, the more they yield in return.

Want to get started today? Jump over to HolyTransaction to quickly create an account and start saving.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
pivx staking holytransaction wallet

Staking PIVX: Staking PIVX on HolyTransaction Wallet

pivx staking holytransaction wallet
Staking Coins: Staking PIVX

PIVX is a privacy-focused cryptocurrency that stands for “Private Instant Verified Transaction“. It is a fork of another cryptocurrency, Dash. Like Dash, PIVX is also used proof of stake for consensus. This means that there are opportunities for earning PIVX just by owning PIVX. This contribution to the network helps fund the verification of transactions and the creation of new PIVX coins. You can think of this as earning interest on your coin or as a dividend on your investment.

Stake PIVX on HolyTransaction Wallet

HolyTransaction.com is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking PIVX has become much easier with HolyTransaction!

How to Stake PIVX

The first step is to register on HolyTransaction.com to get your PIVX web wallet. The official PIVX wallet is available for Windows, macOS, as well as Linux. Android and iOS versions are also available, but these versions do not yet include staking functionality.

After accessing the HolyTransaction wallet, you must wait for your PIVX deposit to reach the minimum number of confirmations for the synchronization to finish. If you move your PIVX in staking before the next rewards distribution is done, your wallet will receive less rewards according to the mininum PIVX held in that time frame.

Once the PIVX address on Holtransaction has received the transaction, you will start staking yourself some PIVX. Your coins must have at least 101 confirmations. These coins are referred to as mintable coins. The number of confirmations on your transaction can be viewed in the history of your account. Once your coins are mintable, you will then be able to stake them and start receiving POS rewards, you can see your rewards in History -> Distributions. Staking can sometimes take as long as 24h to begin once all the prerequisites are met. If staking does not begin after some days, you should wait until you start minting blocks in your wallet.

Risks and Benefits of Staking PIVX

The more PIVX you stake, the more rewards you get. If you have over 10,000 PIVX, this qualifies you as a masternode. This allows you some say in how the PIVX network operates and also qualifies you to receive additional rewards. Masternodes can earn up to 10% of their stake.

You can stake your coin without being online 24/7, but you will not be eligible for staking rewards while your system is offline. Unlike some other proof of stake coins, PIVX does not consider the age of the coins or the amount of time they have been staked. PIVX only considers is your PIVX balance.

Conclusion

HolyTransaction staking wallet makes it much more user-friendly to stake your POS cryptocurrencies. PIVX has great passive income potential, especially for those who hold over 1000 PIVX, this designation greatly increases the rewards you receive. To begin staking PIVX start by depositing your coins in your HolyTransaction Wallet.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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peercoin staking ppc holytransaction wallet

Staking PPC: Staking Peercoin on HolyTransaction Wallet

peercoin staking ppc holytransaction wallet

Staking Coins: Staking Peercoin

Bitcoin and many other early cryptocurrencies use a consensus model known as proof of work. This requires powerful computers to perform cryptographic problems that verify transactions on a blockchain. Peercoin originated an alternative to this that is used in many cryptocurrencies.

Proof of Stake Originator

Peercoin introduced the concept of proof of stake, an alternative to the proof of work consensus model. In its initial stages, proof of work played a large part in the consensus model since it was a fork of Bitcoin. But the original proof of work-dominated model has almost fully given way to proof of stake. This is more environmentally friendly, removes the need for purchasing expensive mining equipment and allows transactions to be performed a lot more quickly than on proof of work blockchains.

Stake Peercoin on HolyTransaction Wallet

HolyTransaction Wallet is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking PPC has become much easier with HolyTransaction!

How Does Coin Staking in Peercoin Work?

This act of generating a new block is called minting, however staking is a more popular term today. In Peercoin’s implementation of proof of stake, each node tries to find a new block each second. If the block is valid and backed by sufficient coinage (coins*days), it is accepted by the network. Nodes are only eligible to find new blocks when their coins have been in a wallet for 30 days. Their odds of finding valid blocks go up with the age of the coin until it reaches 90 days, at which point the probability is maxed out. Once a node finds a new block, new PPC are then minted and, for each new block, that node gets a block minting reward. After a new block has been minted, the age of the coins in the node’s address that are involved in the minting is reset. The address will then not be eligible to be chosen based on those particular coins until 30 days have passed. Staking your Peercoin assets does lock them up from being spent or moved. However, you can sell or spend the PPC at any time—you will just lose the opportunity to mint new blocks.

Advantages of Staking Coins with Peercoin

Why stake Peercoin and not other cryptocurrencies? The return on staking is lower with Peercoin than with most other proof of stake cryptocurrencies. Vast majority of economic studies shows that ideal inflation is 2-3%. However, Peercoin is serious about keeping inflation low, currently at 3.33%. Peercoin’s reliance on proof of stake means that it should not suffer from the same scalability problems that have plagued proof of work platforms like Bitcoin. This means quicker transaction times and an overall better experience for retail and vending applications—which means great potential for the coin’s success in the future. You can learn more about its ecosystem in the Peercoin Primer video series.

Conclusion

Peercoin was the originator of proof of stake in its whitepaper, even though it took some time for proof of stake to actually make its way into widespread use on the blockchain. Staking Peercoin and its minting process presents a great opportunity to earn coin that will, in turn, earn you more coin. All you need is just to deposit PPC to start staking on your HolyTransaction wallet.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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cardano shelley upgrade holytransaction

HolyTransaction Successfully Completes Cardano’s Shelley Upgrade

cardano shelley upgrade holytransaction

Sending and receiving ADA with Cardano‘s Byron and Shelley-era addresses is available on HolyTransaction now.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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DigiByte Logo

Universal Cryptocurrency Wallet HolyTransaction Adds Digibyte to Its Crypto Collection

DigiByte Logo

Once again, we recently listed Digibyte and expanded our collection.

In case you are searching for a reliable and easy to use digital wallet, then HolyTransaction Cryptocurrency Wallet is perfect for you. A digital wallet is ideal for cryptocurrency traders who are looking to store, trade, and send, as well as access their cryptocurrencies through a single account. This way users can easily convert the supported cryptocurrencies without having to transfer their coins to other exchanges.

HolyTransaction Wallet for DGB

As a HolyTransaction customer, you can create a new address for DGB (Digibyte) and use the HolyTransaction Web Wallet to send as well as receive coins. You can also use the wallet to convert them into any other cryptocurrency conveniently. Thus, HolyTransaction users can send cryptocurrency, receive transactions, as well as exchange DGB with other supported cryptocurrencies, with Digibyte being one of the latest coins to be included.

What is Digibyte (DGB)?

Digibyte is a rapidly-growing, public, decentralized blockchain project, which features a cryptocurrency of the same name. The project has been around for a long time, with some of the fastest transaction speeds in the industry composed by an active development team which has been consistently working on it for over 5 years.

Digibyte has also always been transparent, with its team and founder never hiding their identities. DGB can be obtained through mining, purchased on HolyTransaction, or received as payment. In addition to that, the Digibyte team has been making an effort to reach out to merchants without waiting for them to come to cryptos, in an attempt to provide more options to its users as possible.

DigiByte has been active for over 5 years now with a market cap of $69.8 million, which makes it at least as old as Ethereum while DGB itself ranks as the 70th-largest crypto.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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storj-logo-wallet

Wallet Storj: STORJ token joins HolyTransaction

As of today, you can instantly purchase Storj on HolyTransaction, transfer them to any HolyTransaction’s customer for free, and do crypto-to-crypto swaps between your Wallet Storj and more than other 30 cryptocurrencies.

The Storj project provides for a decentralized cloud storage facility and is originally pronounced as “storage“.

Storj’s main aim is to rent a space on the secondary storage devices of the members of its network and pay them in cryptocurrency, for their service they provide. Therefore, Storj’s native cryptocurrency token is STORJ, which can be stored on HolyTransaction now.

“The main difference between Storj and other decentralized cloud storage platforms is that Storj only uses blockchain to manage payments and not to store data. This is due to the high cost and slow speeds found in blockchains. For example, even the fastest blockchains process data/payments in seconds. Meanwhile, traditional cloud storage solutions, like Amazon S3, can store files in milliseconds – many orders of magnitude faster than even the fastest blockchains.”

Shawn Wilkinson (Founder of Storj)

The Storj platform offers online storage similar to Dropbox or Google Drive, but does so over a distributed network. Renting out unused extra space on our hard drives is referred to as, Farming, for instance. The process as simple as downloading a client from the network, choosing the amount of space to be rented, and a wallet address to store the incentives received in the form of cryptocurrency.

All HolyTransaction customers can create a new address for STORJ and use the simple HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any other cryptocurrency.

Just like with Bitcoin, you can:

  • Send STORJ to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange STORJ with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

To add Wallet Storj just click on the “plus” button you find at the top right of the balance page, once you successfully enter into your wallet.

You can find the “plus” button to select the wallets you want to see in the main page like shown in the picture below:

Add new cryptocurrency

We’re excited to be part of the STORJ community!

NOTE: Our multicurrency wallet can store more than 30 cryptocurrencies, including: Bitcoin, Dash, Ethereum, DogecoinLitecoin, DecredZcash, Dai Stablecoin, DigixDao, Augur, 0x Project, Gamecredits, Enjin CoinBlackcoin, Gridcoin, Aidcoin, PeercoinSyscoin, Groestlcoin, Power Ledger, BAT, BlockVPIVXTrueUSD, Cardano, and STORJ among the others.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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cardano-ada-logo

Wallet Cardano: how to store ADA

cardano-ada-logo

We are excited to announce our new Wallet Cardano.

Cardano is a cryptocurrency with a different infrastructure-level design than Bitcoin and Ethereum. In addition it benefits from having (IOHK), a fully-funded development team led by Charles Hoskinson.

The organization behind the project is the Cardano Foundation that selected a well-known think-tank to to enhance the research program of the Protocol of Cardano and Ada. As a result, Cardano did not begin with a comprehensive roadmap or even an authoritative white paper. Cardano is a project that involved feedback from hundreds of the brightest minds inside and outside of the cryptocurrency industry.

You can instantly purchase ADA with more 30 cryptocurrencies in your HolyTransaction wallet and send them to any HolyTransaction’s user for free.

Therefore, HolyTransaction’s customers can create a new address inside their account and use HolyTransaction Wallet to send, receive transactions and to instantly convert them to any other supported cryptocurrency.

Just like Bitcoin and the other 30 cryptocurrencies we currently support, you can now:

  • Send ADA to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange ADA with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

To add your ADA address, click on the “plus” at the top right of the balance page. You can use the “plus” to select the wallets you want to see in the dashboard, for instance:

Add new cryptocurrency

We are honoured to be part of this new community!

NOTE: HolyTransaction Web Wallet can store more than 25 digital currencies, including: Bitcoin, Dash, Ethereum, Dogecoin, Litecoin, Decred, Zcash, Dai Stablecoin, DigixDao, Augur, 0x Project, Gamecredits, Enjin Coin, Blackcoin, Gridcoin, Aidcoin, Peercoin, Syscoin, Groestlcoin, Power Ledger, BAT, BlockV, PIVX, TrueUSD and Cardano, among the others.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Why the Ethereum DAO collapse is good for the cryptocurrency

The news of the Ethereum DAO hacker attack is riding high and of course it brings lots of damages for the ethereum investors who stored about $150m of the cryptocurrency.

However, it is always a good behavior to understand and see the other side of the coin, we would say.
In fact, any negative event can allow to have a better environment and more secure technologies.
A similar thing happened with the Mt Gox disaster, when we learned that an exchange must be built with more care and attention.
As Matthew Spoke, co-founder and CEO of blockchain startup Nuco, explained on Coindesk.
“the DAO attack will likely be reversed, as per Vitalik’s proposal; owners of TDT will be able to retrieve their ETH after the proposed hard fork; The DAO will be emptied of its investments; and future distributed autonomous organizations will learn from the lessons”.

Ethereum DAO: what happened?

On June 17th, an unknown hacker (or a group of hackers) stole $60m in Ethereum coins from the DAO, a decentralized autonomous organization that used the Ethereum Blockchain to leverage smart contracts and to provide a platform where people can vote and fund projects.
Previously last week the DAO experienced another issue but it was fixed soon by the open-source community and the Etheruem DAO structure and problem-solving techniques.

Universal Wallet

If you want to have a safe and secure wallet to store your Ethereum, you should visit HolyTransaction. 
Here you can store your Ethereum, but also several other digital currencies including Bitcoin, Litecoin, Dogecoin and more.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio