Sloto Magazine Blog
A quick look at the technology behind Bitcoin
It has taken a few years for the majority of us to understand how Bitcoin works. Many people are now fluent in the world of cryptocurrency, but there is still a related topic few people understand, the very technology that fuels Bitcoin: Blockchain.
Blockchain will become relevant in our modern world, as it is a very effective technology against corruption and fraud, and many industries have begun to implement Blockchain technology. Did you know the U.N. has been using Blockchain for their World Food Programme?
Blockchain, as its name implies, is a chain of blocks, and each block has information inside that connects to other blocks within the same network. It has the great advantage that it is very difficult to tamper with the chain of blocks: if you artificially modify any block (that could represent an amount of money sent from user A to user B), the entire network would be affected and the “guilty” block would easily be discovered. Imagine you are building a wall made out of Legos, and suddenly someone wants to change the shape and size (information) of a piece of Lego in the middle section of the wall. In order to do this, they would have to modify all the Lego blocks surrounding the modified piece, a task almost impossible to do.
Another advantage is that the chain of blocks is not stored in a single computer or mainframe. Rather, it uses a P2P (peer-to-peer) system. This means every user of a blockchain has a copy of the entire chain of blocks, making sure that the network is intact and in order, which makes Blockchain a very reliable bookkeeping method.
Thanks to its reliability, Blockchain technology is soon to be implemented in banking, for keeping medical records, collecting taxes, and even for voting in the elections!
WHAT IS BLOCKCHAIN TUTORIAL
HOW TO DEPOSIT WITH BITCOIN TUTORIAL
HOW TO DEPOSIT WITH LITECOIN TUTORIAL
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The future of Digital Payment solutions>
Some financial experts have made the forecast that in ten years’ time many societies around the world will be operating without cash. Say goodbye to banknotes and coins, soon enough stores will display signs indicating that they will only accept contactless cards or mobile payment methods.
This has worried some but the trend is quite indisputable: a report from 2018 shows the projected decrease of cash payments over the next 4 years.
Chart by MerchantSavvy.co.uk | Data Source: Worldpay's 2018 Global Payment Report
What is interesting to note is that while cash payments are in a steady decline, there is an equally abrupt upward change with Mobile Payments. This is due to the rapid expansion of the Internet to all sectors of public and private life. In addition, new payment solutions are developed every year which compete with both cash and bank cards.
[DID YOU KNOW? In China, 525.1 million people now use mobile payments rather than cash!]
Countries like China are seeing a boom in Mobile Payments. Phone applications such as WeChat or Alipay allow the Chinese to pay with their phones in almost all shops and stores in their country.
In Denmark, a growing number of stores and restaurants allow you to pay by scanning a QR code with an app in your phone, allowing them to instantly deduct the funds from their bank account. Naturally, this is a concern for many: while cash also has its risks, contactless cards and mobile applications can easily be abused by thieves and fraudsters.
If the trend continues, governments may decide to stop printing and coining money in the near future. Many experts have voiced concerns against such a move, and financial experts usually address two sensitive topics if we choose to move to a cashless society.
First, the security of digital payment solutions is not as rigid as one would like it to be; a hacker can potentially drain the bank accounts of tens of thousands of users. The second point often addressed is that rural areas and economically poor regions will face an unfair disadvantage, as they don’t necessarily have the means to own mobile phones or even open bank accounts.
The world is currently geared for rapid change and we have to be ready to adapt quickly to the new trends. Will a cashless society be the next step in the evolution of human civilization?
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Today we know them only from the stories we heard as children. Fairies are typically referred to as small and attractive human-like beings that have magical powers and can often fly. This image has been painted through countless fairy tales such as Cinderella, Pinocchio, and Peter Pan. The literature about fairies has been a very popular topic for many European writers since the Middle Ages. However, the reality behind fairies goes far beyond literature; it was originally part and parcel of the living folklore of many people around the world.
The word Fairy is believed to be derived from the Old French faie, which referred to a woman skilled in magic, who knew the power and virtue of plants and herbs. Fairy-like beings abound in many traditions around the world: equivalent mythical beings appear in the mythology of Ancient Greece, Samoans, Artic people, Arabic societies and indigenous Native Americans.
Our modern image of fairies is a sweetened version of what fairies were taken to be in former times. Fairies were part of a serious folkloric tradition. In the past, they were feared as dangerous and powerful beings that would meddle with human affairs. Humans would wear protective charms to repel fairies. These included wearing one’s clothes inside out, four-leaf clovers, St. John’s wort and church bells.
Fairies could also help humans at times. It was believed that humans could marry fairies but had to remain married to them all their lives to avoid misfortune or even death.
The rich tradition of fairies has reached Sloto’Cash and in the next page we will look at our popular slot: Stardust!
Stardust is a 5-reel online slot with gorgeous graphics. It is one of our highly acclaimed ALL-WAYS-PAYS slots, which have no pay-lines on the reels. To trigger a payout you have to get identical symbols from left to right on the reels, regardless on their position! There are 243 different ways to WIN with each symbol on Stardust!
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Two Wild Fairies: The Green Fairy is a Wild that will substitute for all other symbols except scatters. At random, the Green Fairy will morph into a Blue Fairy. She is also a Wild symbol and will multiply wins by x4!
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