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NetFlowCoin’s early miners can now convert their testnet tokens into NFCs

NetFlowCoin’s early miners can now convert their testnet tokens into NFCs

The long-awaited testnet token conversion announcement is finally here, users who participated in the early testing of NetFlowCoin’s testnet can now convert the tokens they mined into NetFlowCoin’s official coins. This will enable the miners to store, stake, or sell, their NFC coins ready for future purchases or investment gains.

 

The date has been set for the 23rd of September  2022 and will last for 30 days ending on the 23rd of October 2022.

How to convert the testnet tokens?

The testnet tokens will be converted via the  dedicated to the conversion of NetFlowCoin’s tokens. Every participant will be required to submit a request (via this website) after which the NetFlowCoin team will review and approve/reject based on the submission.

 

Every submission will enter a reviewing process that can last up to 7 days, so patience is kindly requested. Only the tokens that were mined from the testnet by the miners will be converted into NFC’s mainnet coins.

 

After the reviewal process, each submission will then receive NetFlowCoin coins immediately over the mainnet. The conversion between the token to coins will be a 1:1 ratio.

 

For any further questions please refer to the conversion guide or submit a message request via the NetFlowCoin website here.

Download the NetFlowCoin conversion guide

Download our step-by-step guide on how to convert your NetFlowCoin testnet tokens into NetFlowCoin mainnet coins.

Click to download

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How will the blockchain impact everyone’s lives in the future?

How will the blockchain impact everyone’s lives in the future?

We have now entered a stage whereby the vast majority of people have heard what blockchain is. However, not everyone understands how the blockchain will impact their lives. In order for us to answer this question, we must first define what the blockchain is exactly.

 

A blockchain is a distributed database or ledger that is shared among the nodes of a computer network

Adam Hayes, seen in Investopedia

 

As many of you know, the current web 2.0 internet architecture is comprised of multiple server centers storing, and collecting, the world’s internet data and information. Well, the blockchain can be used to ‘distribute’ this data across multiple locations.

 

By distributing this data and information, a few things begin happening, one is, no one controls all the data and information, and secondly, each individual has ownership over their specific set of data, meaning privacy is at the discretion of the holder. Any information stored on a blockchain is either encrypted or anonymized, and the retrievable data is only accessible by the owner.  

Digital twins stored on a blockchain

Now that we have defined what the blockchain is, we can begin defining what are the use cases for this technology. Considering that blockchain technology in itself is nothing new nor revolutionary, but instead, the technology built above a blockchain architecture can be considered ‘game-changing’.

 

A key characteristic of blockchain technology is twofold. One is the limitless storage potential a blockchain could grow to (in the future, of course), and the second is the personalization of an individual’s blockchain.

 

An individual, in theory, can create their own blockchain/sub-net that is only accessible to them. Afterward, any data or information that an individual generates will automatically be sent to and stored on their blockchain. This individual could then give streaming rights to companies in return for products and services.

 

Incidentally, this individual would be creating a digital copy of themselves that can be used for all types of applications which can become a way, in the future, for humans to customize every aspect of their lives.

Predictive technology

Currently, in the real world, we are unable to create perfectly formed simulations of two occurrences with a 100% accuracy of data variables being played out in the exact same order.

 

For example, if we were to create a “what if” scenario about a car driving at 50km/h down a straight road, with the same driver under the same wind speeds, car speeds, car mechanics, driver’s emotional stability, etc… and we simulated a new type of tire turning a corner, or a new road sign with oncoming traffic, or even a different ring tone on a phone. We could pinpoint with 100% accuracy the cause of the outcome under these conditions due to our digital twin simulation tests.

 

Where does this data come from? Well, this could be one of the services an individual may sign-up for, whereby they grant access to these predictive companies to run simulations about that individual’s upcoming day and cross-reference them with other users’ days. When we begin creating complex simulations using thousands of people’s variations, it becomes a headache. However, the technology is applicable due to blockchain technology.  

 

One key characteristic of blockchain technology is immutability. This means anything stored on a blockchain cannot be altered once being submitted. This is incredibly helpful in the finance sector.

Metaverse

Ok, there will be many people who’ll inevitably disagree. Regardless, the metaverse is not as simple as people make it out to be. For example, there are centralized metaverses, such as Zuckerburg’s Meta company, and then there are decentralized metaverses. Perhaps the closest example would be Decentraland.

 

For this example, we’ll focus on decentralized metaversal worlds, as the core concept of a web 3.0 environment is one that removes the need for intermediaries.

 

In the future, the world may begin transitioning toward working, playing, and communicating within a metaversal environment. A decentralized metaverse will inevitably use a blockchain to host and store applications and data. However, the decentralization/distributed aspect of a metaversal world will utilize blockchain technology.

 

The blockchain’s functionality for a decentralized metaverse is the distributed storing of its data combined with the authenticity of metaversal activity by each user.   

Finance

Perhaps this should have been the first major point for how blockchain will impact everyone’s lives in the future, but, blockchain in finance is somewhat of a dying feature, it’s no longer exciting. The ides that cryptocurrencies are here have already been proven to a point that people no longer discuss the core concepts of what drives it anymore.

 

Of course, people are still raving and complaining about the fluctuations across the crypto markets, but these are often people who have missed the entire point of what blockchain technology truly offers.

 

Regardless, finance will be an important aspect that will govern our online lives in the future. The only difference is that the currency used will be in the form of a cryptocoin/token/asset, which will more than likely make paper money redundant in the future.

Conclusion

Blockchain technology is only the foundation that has for a long time needed to be built upon and integrated within the current systems we have used today. A big part of our future will use some aspect of blockchain technology.

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Top 5 crypto coins that actually have utility in the web 3.0 world

Top 5 crypto coins that actually have utility in the web 3.0 world

Although we now live in a digital world that is dominated by multiple cryptocurrencies all operating across numerous chains. But, do most of these currencies have any actual utility? More often than not, they don’t but have instead been invented as either a layer to support the one below it or as a scam project so that the creators can fool others into buying into their schemes.

 

Regardless, we have identified 5 of the top crypto coins, not tokens, that have actual utility. In our opinion, we see these networks taking off and becoming one of our future digital foundational layers, which is something the industry has been waiting for. Although some networks are ahead of others, there’s still a lot of growth across the industry.

Ethereum

Of course, the top coin that has real utility is most certainly the Ethereum network. In many cases, Ethereum has brought us the next evolution of blockchain’s development by introducing smart contracts. From these smart contracts, developers were able to deploy DAPPS, governed by ERC-20 tokens (other cryptocurrencies built above the Ethereum network) that have since made the industry take off.

 

We can see that the Ethereum network has increased in popularity over the years and has even surpassed Bitcoin as one of the most used networks.

Graph showing ethereum vs bitcoin

Solana

Solana is most certainly a network we cannot leave off this list, mainly due to the fact that Solana’s technology can be viewed as the strongest contender to Ethereum. Solana has proven to be highly more scalable compared to Ethereum due to the high transaction speeds across their network. See comparison below:

TPS graphc between different cryptocurrencies

One of the issues that Solana is facing is this consistent problem that occurs over their network, which requires them to shut it down on a regular basis due to bugs within their network. This is a clear sign that Solana has a long way to go in terms of surpassing Ethereum’s ecosystem.

Avalanche

Avalanche is also an impressive layer one public blockchain that shares multiple similarities to Ethereum and Solana in terms of deploying smart contracts and DAPPS.

What’s rather unique about the AVAX network is the added functionality for developers to create sub-nets. These sub-nets can act as private blockchain networks that can be used by companies or governments without them needing to build their own blockchains from scratch.

NetFlowCoin

Possibly one of the highest utility coins on the market is NetFlowCoin. The NetFlowCoin network has created a complete peer-to-peer internet that enables users to share, store, stream, and communicate with anyone anywhere across the globe using any type of NFC-ready device.

NetFlowCoin’s network has all the flexibility and features such as Ethereum (by creating smart contracts), Filecoin (decentralized storage), Avalanche (create multiple sub-nets, public or private), and Solana (with a high TPS).

Monero

Monero is more of an adaptation of the Bitcoin network. It is designed to be a cryptocurrency in all sense of the word. Users of the Monero network can use their digital assets to purchase goods or services in the real world. They are also a coin that has been around longer than most, starting in 2014.

However, one of the unique aspects of the Monero network is that all transactions are completely hidden and private, something that is special to Monero users.

Conclusion

There we have it, the top 5 coins that actually have utility. Of course, there are multiple coins out there on the market and even more tokens. However, in the future, the need for so many different coins and tokens will diminish as the entire industry begins to mature.

Let’s hope that these top 5 coins will remain.