A smart contract is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts were first proposed by Nick Szabo in 1996.
Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. The aim with smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting.
Smart contracts have been used primarily in association with cryptocurrencies.
One real-world smart contract that gained mainstream coverage was The DAO, a decentralized autonomous organization for venture capital funding, running on Ethereum, which was launched with US$250 million in crowdfunding in May 2016 and was hacked and drained of 3,689,577 ETH three weeks later.
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Coal mining is the procedure of extracting coal from the bottom. Coal is appreciated because of its energy content, and, because the 1880s, has been trusted to create electricity. Material and cement sectors use coal as a gas for removal of flat iron from flat iron ore and then for cement production. In britain and South Africa a coal mine and its own set ups are a colliery, a coal mine a pit, and the above-ground set ups the pit brain. In Australia, “colliery” generally identifies an underground coal mine. In america “colliery” has been used to spell it out a coal mine procedure but nowadays the term is not popular.
Coal mining has already established many developments in the modern times, from the first times of men tunnelling, digging and personally extracting the coal on carts, to large wide open slash and long wall structure mines. Mining as of this scale requires the utilization of draglines, pickup trucks, conveyors, hydraulic jacks and shearers.
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Bitcoin Cash (BCH) is a hard fork of the cryptocurrency bitcoin. The fork occurred on August 1, 2017.
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Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called “ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins “premined” for the crowdsale. This accounts for approximately 13 percent of the total circulating supply.
In 2016, as a result of the collapse of The DAO project, Ethereum was forked into two separate blockchains – the new forked version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC).
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Btc.sx is a multinational company that partcipates in bitcoin trading and brokerage. The business offers a trading program in digital money derivatives such as margin trading to retail stock traders. It had been founded in 2013 and is also headquartered in London’s Silicon Roundabout. ZDNet reviews Btc.sx to be main bitcoin companies that voided the need of most other currencies apart from Bitcoin. The business premiered from Sydney, Australia, which is run by CEO Joseph Lee who co-founded the business alongside George Samman and Vincent Hoong. Soon after its release, Lee moved functions to London favouring a dual incorporation model between Singapore and UK. The company also offers procedures in NEW YORK. In Oct 2014, BTC.sx partnered with itBit to increase its occurrence in Asia.
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The DAO was a digital decentralized autonomous organization and a form of investor-directed venture capital fund.
The DAO had an objective to provide a new decentralized business model for organizing both commercial and non-profit enterprises. It was instantiated on the Ethereum blockchain, and had no conventional management structure or board of directors. The code of the DAO is open-source.
The DAO was stateless, and not tied to any particular nation state. As a result, many questions of how government regulators would deal with a stateless fund were yet to be dealt with.
The DAO was crowdfunded via a token sale in May 2016. It set the record for the largest crowdfunding campaign in history.
In June 2016, users exploited a vulnerability in the DAO code to enable them to siphon off one third of The DAO’s funds to a subsidiary account. On 20 July 2016, the Ethereum community decided to hard-fork the Ethereum blockchain to restore virtually all funds to the original contract. This was controversial, and led to a fork in Ethereum, where the original unforked blockchain was maintained as Ethereum Classic, thus breaking Ethereum into two separate active blockchains, each with its own cryptocurrency.
The DAO was delisted from trading on major exchanges such as Poloniex and Kraken in late 2016.
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BTCChina (now BTCC), based in Shanghai, was the world’s second largest bitcoin exchange by volume as of October 2014. Founded in June 2011, it was China’s first bitcoin exchange, and most of its customers are thought to be Chinese. In November 2013, the company had grown to 20 employees. It announced on 14 September 2017 that it was suspending trading as of 30 September 2017.
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Augur is an open-source, decentralized prediction market platform built on Ethereum. The Augur protocol is a set of smart contracts that exist on the Ethereum blockchain.
Augur was founded in 2014 by Jack Peterson and Joey Krug. The first working version of Augurs alpha release was published to the Ethereum test network in June 2015. Development was funded via an online crowdsale during August and October 2015. Four months later in March 2016, Augurs beta release was deployed to the Ethereum test network. The project has gone through a few iterations since then, and are in the final stages of preparing for a main network launch.
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The Ethereum token standard (ERC20) is used for Ethereum smart contracts. Developed in 2015, ERC-20 defines a common list of rules that an Ethereum token has to implement. Giving developers the ability to program how new tokens will function within the Ethereum ecosystem. This token protocol became popular with crowdfunding companies via Initial Coin Offering (ICO).
Mercury Protocol’s Global Messaging Token is an example of an application based on ERC20 tokens.
Free: The Best Sales Letter Templates
There’s been a trend online for the last 20 years to write sales letters that are shorter and have more and more graphics and fancy images.
But just because everyone is doing it, does that make it the most effective form of selling?
Maybe not.
Do you remember direct mail selling?
You get a fat white envelope in the mail, and inside is a long form sales letter. No fancy graphics, just plenty of great copy.
Here’s the thing: Anybody and everybody can throw up a sales letter online. And they do.
But when it comes to direct mail, these companies are hiring the best of the best copywriters to write their letters.
How do I know? Because no company in their right mind is going to spend the money to mail thousands (hundreds of thousands, even millions) of these letters unless they know for a FACT that they’re going to convert.
And how do they know? Because they test them. They pit one version against another to determine which one is more effective, and that becomes the control.
Then they write another version and test that against the previous winner, and they keep this up until they are making serious money.
Then they mail out these letters by the tens of thousands or even hundreds of thousands, and the money rolls in.
These are the best of the best in sales letters, and they’re not to be confused with online sales letters in quality.
After all, it costs nothing to slap a letter up on the internet and see if anything sticks.
But mailing out thousands of letters the old fashioned way is a serious investment – which is also why these companies are willing to pay the very best writers 5 figures plus royalties to write these letters.
So, get on as many mailing lists as possible and when these letters start coming in, read and re-read them.
Dissect why they work, and then use them as templates for your own letters.
I have a friend who is experimenting with this very technique, and his first try out of the gate more than DOUBLED his sales compared to the sales letter he was using.
He simply took a sales letter that he’s received in the mail twice (a sure sign it’s converting) and he used it as a template for his online letter for his own product.
He didn’t use any graphics at all. No flash and no sparkle – just a plain old sales letter full of words that convinced his online buyers to… BUY.
Try it. You never know – maybe you’ll double your sales, too.
