22 Jul 2019
2 min. read
A brief tutorial for Trezor users covering how to start using Trezor with the Magnum Wallet.
Trezor devices are some of the most popular hardware wallets on the market that offer ultimate security in storing crypto assets. With a handy screen and a wide range of features, Trezor wallets ensure that you retain all the essential functionality with a new layer of protection.
Magnum Wallet provides you with an intuitive interface to manage and exchange BTC, ETH, XRP, and many other coins and tokens.
11 Jul 2019
8 min. read
Whether you’ve seen one or not, a Bitcoin ATM is coming to your neighborhood. At least, that’s what the recent trend suggests, with over 6 machines currently being installed around the world each day and close to 4 thousand units already in place in the United States alone. Bitcoin ATMs, also known as BTMs or BATMs, have been the subject of heated discussion due to their high fees, the possibility of being completely redundant in the future and for being used as a way to launder money.
9 Jul 2019
4 min. read
Here’s a brief overview of what has been happening in the crypto world in the last week.
US House of Representatives Committee on Financial Services has requested that Facebook immediately stops the development of the Libra digital currency. The proposed moratorium was submitted by a wide range of groups and individuals, who feel that the new project might present a threat to financial markets and possibly national security.
Sina Finance, a trading application with around 10 million users, has added the ability to track 36 different cryptocurrencies.
2 Jul 2019
3 min. read
What is QTUM? QTUM (short for “quantum”) is an open source blockchain platform launched in 2017 by Jordan Earls and Patrick Dai. It combines the security of the Bitcoin Core protocol and the smart contract functionality of the Ethereum Virtual Machine (EVM). While providing a business-friendly environment for Dapp development, it also has several competitive advantages over those two most popular cryptos, including a highly efficient consensus protocol and decentralized governance.
2 Jul 2019
5 min. read
Here’s a brief overview of what has been happening in the crypto world in the last week.
Binance has introduced a new trading interface named Binance 2.0 and opened the margin trading feature to all of its users, though not immediately. The potential effect this will have on the market is still unknown. The crypto giant is also in talks with Facebook over the timely listing of its [Libra]((https://magnumwallet.co/sitemap/libra_wallet) token and the importance of big industry getting involved in the crypto market.
18 Jun 2019
3 min. read
On June 18th, 2019, Facebook finally revealed some details about its upcoming cryptocurrency Libra, previously rumored to be called GlobalCoin. Even more, they published an extensive white paper outlining both its technical aspects and the project’s vision. Aimed at delivering financial services to everyone across the globe, Libra combines the cutting-edge technology of new platforms like EOS and Tron, all the while remaining a stablecoin pegged to a set basket of fiat currencies.
17 Jun 2019
3 min. read
Private keys as part of asymmetric cryptography are used to manage a user’s cryptocurrency. While public keys are used as the basis for addresses in Bitcoin and other coins, private keys are generated first and without them, funds cannot be accessed or spent.
Private Keys Most cryptocurrencies use elliptic curve cryptography (ECC) to generate private keys. Using arbitrarily set operations of point addition and multiplication, one can go over an entire elliptic curve starting from a single base point.
17 Jun 2019
3 min. read
What is Stellar? Stellar is a sophisticated blockchain network launched by Jed McCaleb and Joyce Kim in 2014 with a goal to make cross-border payments available to everyone across the world. Its cryptocurrency Stellar lumens (or XML) is ideal for instantaneous transactions with low fees. While the project is similar to Ripple (XRP), the codebase behind it is original and being developed by the Stellar Development Foundation. The smallest unit of measurement is a stroop, which is one ten-millionth of a lumen.
17 Jun 2019
3 min. read
Here’s a brief overview of what has been happening in the crypto world in the last week.
Justin Sun has won a bid to dine with the business magnate Warren Buffett after having donated 4.5 million USD. As Buffett is an outspoken cryptocurrency skeptic, this meeting is expected to shed light on the market and bring the conversation forward.
Binance has recently restricted access to the website of its decentralized exchange (binance.
28 May 2019
4 min. read
The Premise After decades of economic growth and prosperity in developed countries, the late 2000s hit the financial markets as nothing else could. In particular, the beginning of the Great Recession prompted many banks to close which in turn led to a massive loss of savings across the globe. This was the perfect time to create a new trustless system which would eliminate the middlemen and give people a safer alternative for storing and exchanging their assets.
24 May 2019
3 min. read
What is Polkadot? Polkadot (DOT) is a blockchain platform with advanced interoperability and scalability features started in 2017 by Gavin Wood, the co-founder of Ethereum. Aimed at connecting other blockchains with unprecedented flexibility and efficiency, Polkadot strives to become the leading multichain framework on the market. It is expected to launch in the second half of 2019, along with its main token DOT.
Shared Security In Polkadot, there is a hub and spokes approach to interchain operability.
21 May 2019
3 min. read
What is NEM? NEM, or New Economy Movement, is a blockchain platform centered around its XEM token. It offers a variety of unique features including a reputation-based consensus mechanism POI, a notarization service NEM Apostille, its own NEM Smart Assets System, and lots more. Founded by Lon Wong in 2015, the NEM foundation has been very successful in promoting the project to commercial and governmental organizations around the world.
14 May 2019
3 min. read
What is EOS? EOS.IO is a blockchain platform launched by the block.one company with Daniel Larimer and Brendan Blumer as its key figures. Their goal was to create software akin to an operating system for the development of decentralized applications with good scalability and low fees. EOS.IO has been steadily overtaking Ethereum as the go-to Dapp platform and its native cryptocurrency EOS has seen a remarkable surge in popularity and valuation.
14 May 2019
3 min. read
What is the Tron Network? Tron Network is a blockchain ecosystem for digital content that aims to bring digital freedom to projects around the world. It was first launched in 2017 by Justin Sun, and went live in May 2018. Tron aims to establish itself as both a Dapp platform and a foundation for a future decentralized content medium with TRX at its center. In particular, this token is part of the system built to cut out the middleman in the media industry.
14 May 2019
3 min. read
Whether you are an experienced user or a complete newbie in the world of cryptocurrencies, you need to be aware of a number of different scams in this field. Once you know what they are, you will have a better chance of never running into one. Let us go over the main types of crypto scams and how to avoid them.
Fraudulent ICOs & Pyramids A vast majority of all tokens ever launched have been proven to be scams.
18 Apr 2019
2 min. read
Transaction memos: what they are and how to work with them Let’s jump straight to the point. Memos are pieces of text, hash, IDs or other data that are attached to transactions. They are entirely optional and have a number of different uses.
Most importantly, custodial exchanges utilize memos as extensions of addresses. They rarely store the users’ funds in individual wallets, instead, they resort to assigning a single wallet to a number of people.
17 Apr 2019
4 min. read
Bitcoin has become extremely popular across the world, and there is a reason why. The promise of a reliable, decentralized and inexpensive payment system is pushing investors and businesses alike into supporting cryptocurrencies and promoting their adoption.
Cryptocurrency has long been a buzzword in the world of technology. But Bitcoin is the first and only coin most people have ever heard of, and very few have actually tried using it.
11 Mar 2019
2 min. read
What is PIVX? PIVX, short for Private Instant Verified Transaction, is an open-source privacy coin first launched as DarkNet in 2015. PIVX combines much of the codebase of Dash, another popular cryptocurrency, with a Proof-of-Stake (PoS) consensus algorithm and the power of the Zerocoin protocol.
A Focus on Privacy The goal of enabling anonymity in transactions is achieved by implementing zPIV, effectively a second-tier currency based on zk-SNARKs, a variant of zero-knowledge proofs.
11 Mar 2019
3 min. read
What is the Cosmos Network? Cosmos Network is a promising blockchain-based project started by Jae Kwon and Ethan Buchman in 2016. With its native token Atom at the center, Cosmos provides a scalable solution for deploying application-specific blockchains, as well as ground-breaking interoperability possibilities. Its mainnet is set to launch in the spring of 2019.
Solid Foundation In fact, Cosmos is built on top of Tendermint, an application platform with two major components – Tendermint Core and ABCI, short for application blockchain interface.
22 Feb 2019
2 min. read
What is Binance Coin? Binance Coin (BNB) started as an ERC-20 token issued by the Binance exchange in 2017. Despite coming into the market quite recently, Binance (short for Binary Finance) has quickly gained widespread adoption thanks to its robust matching engine and low fees. Now BNB is the native coin of the Binance Chain, the company’s own blockchain which boasts a decentralized exchange built on top of it.
22 Feb 2019
2 min. read
What is Telegram Open Network? TON is a multichain platform being developed by Telegram, that has raised record high amounts in private token sales in 2018 and is expected to bring a wide range of revolutionary technologies to life. The Durov brothers in charge of this project founded VK, the largest domestic European social network, but sold their stock and now run the popular instant messaging service along with a team of highly skilled developers.
22 Feb 2019
2 min. read
What is IOST? The Internet of Services (IOS) is a blockchain infrastructure project for running decentralized applications that was founded by a group of successful Chinese entrepreneurs. Based on the idea of improving on their predecessors, IOS and its’ token (IOST) aim to provide a more secure and scalable solution with higher transaction throughput than the likes of Ethereum and EOS.
Fair & Scalable Using the innovative Proof-of-Believability (PoB) consensus algorithm and a complex sharding system, IOST solidifies decentralization and stability of the network.
14 Feb 2019
2 min. read
What is Bitcoin Private? Bitcoin Private is a cryptocurrency that was forked from Zclassic and Bitcoin in March 2018. Although it is largely run by the community, there is a group of coders and scientists actively involved in its development. The idea behind the project is to promote the adoption of privacy on the blockchain while providing a familiar user-friendly service similar to Bitcoin and Bitcoin Cash.
Privacy for the people The technology behind BTCP, zk-SNARKs, is based on the Zerocash protocol developed by American and Israeli scientists to achieve enhanced privacy in payment transactions.
14 Feb 2019
2 min. read
What is Groestlcoin? Groestlcoin (GRS) is an all-in-one cryptocurrency launched in 2014 by the anonymous “gruve_p” from Holland. GRS focuses on technological advancement, privacy, low transaction fees, and speed. Its intended purpose is to be electronic payment system with a strong mathematical base and decentralized governance.
Solid Ground Having a development team that’s spread out all over the world and an engaged community of crypto enthusiasts, GRS is a truly decentralized project which aims to improve upon its predecessors such as Bitcoin.
14 Feb 2019
2 min. read
What is DigiByte? DigiByte is a highly decentralized cryptocurrency with a focus on security and speed. It was developed by Jared Tate, and released in 2014, which makes it relatively old for a cryptocurrency. The project was inspired by Bitcoin but came with many improvements including very little to no transaction fees and lightning fast transactions. It has been tried and tested over the years and has improved significantly since its launch.
14 Feb 2019
2 min. read
What is Bitcoin SV? Bitcoin Satoshi Vision (BSV) is the fork that formed after a conflict between two factions in the Bitcoin Cash (BCH) community. Craig Steven Wright and Calvin Ayre released Bitcoin SV in November 2018. As a rival to BCH, it aims to fulfill Satoshi Nakamoto’s original vision of Bitcoin’s whitepaper by maintaining a stable network, increasing capacity and instilling confidence among companies that utilize the BSV blockchain.
14 Feb 2019
2 min. read
What is Ethereum Classic? Ethereum Classic (ETC) is a blockchain-based computing platform for creating and executing smart contracts. It was initially released as Ethereum in 2015 and did not branch off until a year later. Then, a fraction of the Ethereum community rejected a hard fork made to restore the funds stolen in the infamous DAO hack. Developers of Ethereum Classic firmly believe in immutability and decentralization of their public ledger and together with their most loyal users stick to the “Code is Law” principle.
14 Feb 2019
2 min. read
What is Aion? Aion Network is a platform for building decentralized applications created in the fall of 2017 by Nuco, a team of former Deloitte executives. Its third-generation blockchain Aion-1 aims to manage sophisticated software and provide communication between many separate blockchains. The Aion-1 token (AION) was successfully transferred from Ethereum to the mainnet in late 2018.
Federate, Scale, Spoke The main idea behind this platform is to address the lack of interaction among established blockchains.
25 Jan 2019
2 min. read
What is Bitcoin Cash? Bitcoin Cash (BCH) is a relatively recent hard fork of Bitcoin that was brought about in 2017 by a group of Bitcoin activists and heavily promoted by Roger Ver, who felt like Bitcoin had become more of a digital investment rather than a transactional currency. They’ve increased the block size from 1MB to 32MB which allowed more transactions to be processed at a lower cost.
25 Jan 2019
2 min. read
What is Dash? Often referred to as Digital Cash, Dash is a fork of Bitcoin centered around anonymity and transaction speed. It was launched as Xcoin by Evan Duffield in 2014, later renamed as Darkcoin, and finally rebranded to Dash in 2015.
Mining & Masternodes Dash mining works similar to other cryptocurrencies where the foundation is a blockchain with a built-in Proof-of-Work (PoW) protocol and a decentralized public ledger. Governance in Dash is done through a form of decentralized autonomous organization (DAO), in which a number of “masternodes” host a copy of the blockchain, relay messages, and validate transactions on the network.
25 Jan 2019
2 min. read
What is ZCash? Zcash is a decentralized cryptocurrency that was started as a fork of Bitcoin by Zooko Wilcox-O’Hearn and his team in 2016. It is based on the Zerocash protocol developed by American and Israeli scientists and aims to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin.
Strong Privacy Features Two types of addresses are used for transactions in Zcash: a “t-address”, which is “transparent” and similar to a Bitcoin address, and a “z-address”, that is fully private and allows its users to shield a transaction from being visible to third parties in the blockchain.
25 Jan 2019
2 min. read
What is Tezos? Tezos is a self-amending smart contract platform that is the brainchild of Arthur and Kathleen Breitman. The Whitepaper was released in 2014, and three years later Tezos went on to have the biggest initial coin offering (ICO) by amount raised at the time. The project is now up and running, with its native cryptocurrency Tez or Tezzie (XTZ) having gained significant market capitalization.
Baking & Governance From the start, Tezos was created to be an evolving network, so token holders can vote on pending protocol developments, for which there is a rigorous mathematical basis.
25 Jan 2019
2 min. read
What is the Komodo Platform? Komodo is a global, interoperable blockchain ecosystem that provides some of the most innovative end-to-end blockchain technology solutions in the world. Founded by the anonymous James “jl777” Lee in 2016, Komodo began as a hard fork of ZCash, and in 2018, the entire BitcoinDark team joined the project, taking their user base along to Komodo’s native cryptocurrency.
Security first There are four main technologies driving this platform, and each is described in arguably the most in-depth whitepaper in the crypto world.
25 Jan 2019
2 min. read
What is Ethereum? Ethereum is an open-source blockchain-based network and computing platform which allows building and running smart contracts and decentralized applications. Its whitepaper was written in 2013 by Vitalik Buterin, a young Russian-Canadian programmer, and then it was subsequently released by him, Gavin Wood and Joseph Lubin in 2015.
Ether & gas Ethereum has a Proof-of-Work (PoW) consensus algorithm similar to the one used in Bitcoin. Miners work to earn Ethers (ETH), a token utilized as a form of payment for transaction fees and a range of services available on the network.
23 Jan 2019
2 min. read
What is Litecoin? Litecoin (LTC) is an early fork of Bitcoin that was intended to have lower transaction fees and easier mining than the original. It was released by Charlee Lee, a Google employee, in 2011. The project had quickly become one of the most popular cryptocurrencies in the world.
Litecoin vs. Bitcoin Litecoin was created to resolve some of Bitcoin’s notorious issues, such as high fees and issues with scalability.
23 Jan 2019
3 min. read
What is Bitcoin? Bitcoin (BTC) is the world’s first peer-to-peer digital currency which still has the greatest market capitalization. Its enigmatic creator, Satoshi Nakamoto, published the Bitcoin whitepaper in late 2008, and mined the first block (aka the genesis block) in 2009. Their identity remains unknown, but it’s safe to say the person or people behind this name have changed the world forever.
What is a blockchain? It is a distributed public ledger that provides a mechanism for the transaction data to be stored in a chain of blocks, each one containing a hash of the previous block, along with other information.
1 Jan 0001
3 min. read
#— linktitle: “OKB — The Utility Token of OKChain” title: “OKB — The Utility Token of OKChain | Magnum Wallet | On IEO, OKEx, OKCoin, pBFT, and more” description: “OKChain is a scalable blockchain platform developed by two of the leading cryptocurrency exchange platforms OKEx and OKCoin. With its native token OKB, it aims to provide unprecedented opportunities for both startups and Dapp developers.” date: 2019-05-20T18:04:45+03:00
draft: false What is OKB?