Wu-Tang Clan’s Ghostface Killah co-founded a cryptocurrency venture — now it wants to raise $30 million

  • A cryptocurrency firm co-founded by U.S. rapper Ghostface Killah hopes to raise $30 million in a digital coin sale.
  • Ghostface Killah is the latest in a long line of celebrities — from Paris Hilton to Jamie Foxx — who have put their names behind ICOs and crypto ventures.
  • “I think the interest of celebrities is a bit of a double-edged sword,” Brett Westbrook, chief executive at Cream Capital, told CNBC via email.
  • Westbrook said that celebrities should be cautious of the influence they have when promoting cryptocurrencies, and should understand the blockchains (distributed ledger technologies) that underpin them.
  • “The last thing we need is a household name promoting what turns out to be a scam ICO.”

A cryptocurrency firm co-founded by U.S. rapper Ghostface Killah hopes to raise $30 million in a digital coin sale.
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Here’s What You Need To Know About Cryptocurrency

  • CryptoCurrency relies on public and private keys to make transfers between individual.
  • When you download a Bitcoin wallet , you are basically downloading the block chain so that you as well as every user of bitcoin has a copy of the entire bitcoin network.
  • With Bitcoin, to generate (or mine) bitcoins, you required an ASIC machine; this often required a massive amount of dedicated computing power to mine the coins.
  • The first decentralized form of CryptoCurrency was introduced to the world in 2009, by an individual (or group) operating under the pseudonym ‘Satoshi Nakamoto’; this was dubbed ‘ Bitcoin ‘ and is now the standard under which other cryptocurrencies operate.
  • Bitcoin users keep their balances in pairs of keys which consist of private keys and public keys.

What is CryptoCurrency? While many people have heard of Cryptocurrency, it is still shrouded in much mystery and misunderstanding. In this article, we’ll try to unshroud this new and exciting trend. T…
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Here’s What You Need To Know About Cryptocurrency

  • Whenever you purchase a bitcoin or purchase something with bitcoins, these transactions are recorded to a block chain, which confirms that the owner possesses the bitcoin.
  • With Bitcoin, to generate (or mine) bitcoins, you required an ASIC machine; this often required a massive amount of dedicated computing power to mine the coins.
  • The backbone of the Bitcoin is the block chain.
  • Bitcoin users keep their balances in pairs of keys which consist of private keys and public keys.
  • CryptoCurrency relies on public and private keys to make transfers between individual.

While many people have heard of Cryptocurrency, it is still shrouded in much mystery and misunderstanding. In this article, we’ll try to unshroud this new and exciting trend. To put it simply, Cryptocurrency is a decentralized virtual currency based on cryptographic software. CryptoCurrency relies on public and private keys to make transfers between individual. The great thing about cryptocurrency is that transactions are anonymous and untraceable. The decentralized nature of CryptoCurrency empowers individuals and eradicates the need for financial institutions.

The cryptocurrency market works very similar to FOREX (Foreign Exchange), however, with Cryptocurrency, there is no centralized bank or institution. Buyers and sellers rely on cryptography to secure transactions and control the creation of new ‘coins.’ Don’t let the word ‘Coin’ fool you, though, as cryptocurrency has no physical coins. The so-called coins are bought and sold through certain exchanges, and the value of these coins can fluctuate quite a bit, from day to day.
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