In August, the European gaming market saw significant movement, with 1.8 million console and PC games sold across the continent. This figure represents a 7% year-on-year increase, largely driven by discounted older titles and major new releases. According to data from GSD, which tracks digital sales from leading publishers and physical sales across major European markets, this growth reflects the dynamic nature of the gaming landscape in the region.
Grand Theft Auto 5 Reclaims the Top SpotAt the forefront of this resurgence is Rockstar’s Grand Theft Auto 5, which reclaimed the No. 1 position on the charts, nearly a decade after its initial release. Sales for the game rose by 5.7% compared to the same period last year, largely due to widespread promotions and discounts. GTA 5 continues to be a dominant force in the gaming industry, maintaining its appeal across multiple generations of consoles.
Star Wars Outlaws Falls Short of ExpectationsUbisoft’s highly anticipated Star Wars Outlaws, the second best-selling game of August, had a rocky launch. Despite the strong brand power of the Star Wars franchise, its initial sales were disappointing, falling to less than half of what Star Wars Jedi: Survivor managed to sell in its first week in 2023. However, Outlaws did outperform 2020’s Star Wars: Squadrons, another EA-published title focused on space combat, offering some solace for Ubisoft.
Black Myth: Wukong’s Absence from the ChartsAugust also saw the release of Black Myth: Wukong, a game many expected to perform well. However, due to the absence of digital sales data, its impact on the charts was muted, with the physical edition of the game only managing to reach No. 68. This omission leaves a gap in assessing the full performance of this much-hyped title.
Legacy Titles Surge in PopularityA number of older games saw renewed interest in August. Kingdom Come: Deliverance skyrocketed to No. 4 on the charts, largely due to a substantial discount on Steam that brought the game’s price below £3. Borderlands 3 also experienced a boost, climbing the ranks following the announcement of a new Borderlands movie and Borderlands 4.
Disappointment for Sony’s ConcordOne of the most discussed titles of August, Sony’s Concord, suffered a particularly unfortunate fate. The game failed to capture the interest of players, leading to its removal from sale. It ranked at No. 347 across Europe, a disastrous result for a major release. Emio: The Smiling Man: Famicom Detective Club, a Nintendo title, performed better, ranking as the 13th best-selling new game of August, though Nintendo’s digital sales were not included in the data.
Console Sales Decline Despite PS5 Leading the MarketIn the hardware sector, just over 300,000 gaming consoles were sold across Europe, marking a steep 42% decline compared to the previous year. However, this figure represents a modest 12% increase over July. Despite a year-on-year sales drop of more than 50%, Sony’s PlayStation 5 continued to dominate the console market. The Nintendo Switch maintained its position as the second most popular console, though its sales were down by 25% compared to August 2023.
For the year-to-date, overall console sales in Europe have fallen by 29%, underscoring a broader trend of hardware market contraction.
Accessories See Steep DropThe decline wasn’t limited to consoles. Sales of gaming accessories also took a hit, with 1.1 million units sold across tracked European markets, a decrease of over 17% compared to the previous year. This indicates that consumers are becoming more selective with their purchases, possibly in response to economic pressures.
The August charts highlight the enduring popularity of legacy games like GTA 5 and Red Dead Redemption 2, which have consistently performed well despite being years past their initial release. These titles, along with new entries like Star Wars Outlaws, reflect a mix of both timeless appeal and the shifting landscape of new game launches.
As the year progresses, it will be interesting to see whether Ubisoft can turn around the initial underperformance of Star Wars Outlaws, and how legacy titles like Grand Theft Auto 5 will continue to influence the charts.
Top ten best selling videogames in Europe in August 2024 (Digital + Physical Sales)
1. Grand Theft Auto 52. Star Wars Outlaws3. Hogwarts Legacy4. Kingdom Come: Deliverance5. EA Sports FC 246. Borderlands 37. Red Dead Redemption 28. Grand Theft Auto Online9. Titanfall 210. It Takes Two
Imagine paying less for faster transactions – sounds like a dream, right? Well, why wait for the future when Solana offers it now? While other blockchains often get slow down due to heavy usage and charge higher fees, Solana Blockchain offers lighting fast speeds at lower costs. Solana Blockchain is making waves as one of the quickest and most cost-effective blockchains ever, perfect for developers and users as well. Now, in this blog, we will explore why Solana Blockchain is a better choice for your next crypto move.
Solana Blockchain is a high-performance blockchain platform designed for decentralized applications (dApps) and cryptocurrencies, known for its fast transaction speeds and low fees. Unlike traditional blockchains, Solana uses a unique Proof of History (PoH) consensus combined with Proof of Stake (PoS) to process thousands of transactions per second, making it one of the fastest blockchain networks.
Solana Blockchain supports a wide range of decentralized applications, DeFi projects, and NFTs, offering scalability without sacrificing security or decentralization. It is often seen as a strong competitor to Ethereum due to its speed, efficiency, and growing ecosystem.
How does Solana Blockchain come into this crypto field? Let’s get to know that.
History of Solana Blockchain:
Anatoly Yakovenko, who was previously an engineer at Qualcomm, started the Solana Blockchain in 2017 to create a well-scalable and functioning blockchain network. To ensure that there was a way to timestamp Solana transaction data, Yakovenko devised a one-of-a-kind system known as Profile of History. This allowed it to get rid of one major problem of scaling that older blockchains such as Bitcoin or Ethereum were unable to solve.
Solana Blockchain’s main net was launched in March 2020, and since then its popularity has been attributed to processing thousands of transactions per second for very low fees. This attracted many decentralized applications (Dapps), decentralized finance (DeFi) projects, and non-fungible tokens (NFTs) to Solana during this time frame, making it among the best blockchains across the globe.
Solana Blockchain has its own cryptocurrency. Let’s get to know about it.
What is SOL Token?
Source: golemp(YouTube)
The cryptocurrency Sol (SOL) is dedicated to the Solana blockchain. The primary function is paying transaction fees within that network while also giving access to the Proof of Stake (PoS) consensus mechanism. In this way, the holders of Solana Blockchain can stake their SOL tokens to secure the network and verify transactions. Also, decentralized applications (dApps) on Solana Blockchain use it, just like they do other purposes such as voting rights for amendments on future developments in this platform.
Solana Blockchain stands out from other blockchains due to several key features that make it unique in terms of scalability, speed, cost-efficiency, and innovation. What makes Solana Blockchain so unique that you need to know before diving in to use it?
What Makes Solana Blockchain Unique?
1. Proof of History (PoH):
Proof of History (PoH) of Solana Blockchain is the conceptual innovation contemplated by its creator Anatoly Yakovenko, revolutionizes the field. In fact, unlike the Proof of Work (PoW) and Proof of Stake (PoS) blockchains, the PoH contains cryptographic time stamps for each of the transactions. Thus, the network can order transactions without the validators needing to be online and communicating all the time. In conclusion, such kind of transactions can be run in series and even in parallel, boosting Solana’s throughput significantly.
2. High Transaction Speed:
With a capacity of up to 65,000 transactions per second (TPS), Solana Blockchain makes one of the fastest payment systems across the globe. Given that the Ethereum network handles in the range of 15-30 TPS while Bitcoin manages around 5-7 TPS transactions. The speed is due to PoH and other optimization techniques that avoid network overload by allowing the network to handle heavy loads of transactions without slowing down.
3. Low Transaction Costs:
Even if it seems that high transaction fees are something that every network has to face when it becomes overwhelmed, Solana Blockchain’s fees remain very low. Generally, Solana, being the average is the least, the gas fee is only a fraction of a cent. It presumably will attract developers and users who don’t want to spend a lot on their solutions and who look for free dApps particularly such as decentralized finance (DeFi), non-fungible tokens (NFTs), and others.
4. Scalability Without Layer 2 Solutions:
Several blockchains including Ethereum lean on a Layer 2 scaling technique for accommodating an increased load of the transactions on their networks. The largest achievement of Solana Blockchain, on the other hand, is that it has achieved scalability in its main Layer 1 protocol instead of using off-chain solutions or sidechains. This consequentially helped the network to be more streamlined and secure that it scales horizontally by maintaining its performance as user demand grows.
5. Smooth Developer Experience:
Solana Blockchain is created with developers in mind to work out, offering a simple and adaptable arrangement for building decentralized applications (dApps). Solana Blockchain onboards techie with many team players through its intuitive development tools, integration with Rust and C programming languages, and the availability of resources. Consequently, this is the platform that is the most promising for the creators of these dApps that are looking for the scalability of blockchain for their projects.
6. Ecosystem Growth and Innovation:
Solana Blockchain was launched in 2020; it has become one of the fastest-growing ecosystems in the DeFi world. Over the past two years, a large number of projects in the fields of DeFi, NFTs, gaming, and Web3 have emerged on Solana. Some of the most well-done solutions include Serum (a decentralized exchange), SolSea (an NFT marketplace), and Audius (a decentralized music streaming service). The growing ecosystem continues to showcase Solana’s abilities in a range of applications, from financial services to entertainment.
7. Energy Efficiency:
Thanks to its design, Solana Blockchain can achieve energy efficiency far beyond that of Proof of Work (PoW) blockchains like Bitcoin. With Proof of Stake (PoS), and Proof of History (PoH), Solana can perform transaction verifications without the need for mining which itself is pretty energy consuming.
Now, let’s explore the differences between the three popular Blockchains in the crypto world and why Solana Blockchain is different from the two other Blockchains.
Solana VS Ethereum VS Bitcoin:
FeatureSolanaEthereumBitcoinConsensus MechanismProof of History (PoH) + Proof of Stake (PoS)Proof of Stake (PoS) (Ethereum 2.0)Proof of Work (PoW)Transaction SpeedUp to 65,000 transactions per second (TPS)15-30 TPS (Ethereum 1.0); Potentially higher with Layer 2 and Ethereum 2.05-7 TPSTransaction FeesLess than $0.01 per transactionVaries; typically higher (can reach $10-$50 or more)Varies; typically $1-$5 or moreScalabilityHighly scalable without Layer 2 solutionsUses Layer 2 scaling solutions (e.g., Rollups)Limited scalabilityEnergy EfficiencyEnergy-efficient (PoS + PoH)More energy-efficient with PoS (Ethereum 2.0)Energy-intensive (PoW mining)Smart Contract SupportYes, full support for dApps and DeFiYes, widely used for dApps and DeFiNo smart contract supportLaunch Year20202015 (Ethereum 1.0); Transition to Ethereum 2.0 in 20222009Block Time~400 milliseconds~12-14 seconds~10 minutesPrimary Use CasesDeFi, NFTs, dApps, fast paymentsDeFi, NFTs, dApps, smart contractsDigital gold, store of value, peer-to-peer transactionsEcosystem GrowthRapidly growing ecosystem, diverse applicationsA large ecosystem with DeFi, NFTs, Layer 2 solutionsFocused on being a secure store of valueMarket Cap$7-10 billion (as of 2024)$200-300 billion (as of 2024)$500-600 billion (as of 2024)GovernanceToken-based governance, SOL holders can voteToken-based governance, ETH holders can voteNo formal governance; development by the Bitcoin Core teamSecurity ModelPoS with slashing for validator misbehaviorPoS (Ethereum 2.0) with slashingPoW, highly secure but energy-intensiveDeveloper ToolsRust, C, and robust developer supportSolidity, Vyper, large developer ecosystemNo smart contract functionality
Investing in Solana (SOL) involves several steps, from purchasing the token to securely storing and tracking it. Before you make your decision, you need to know how to invest in Solana Blockchain.
How to Invest in Solana Blockchain?
1. Where to Buy Solana (SOL)?
Solana can be bought by the investors using SOL tokens via the platforms specified below. Certain exchanges such as Binance and Bybit are targeted via cryptocurrency exchange where you can securely and instantaneously buy SOL with other cryptocurrencies or through the use of a debit/credit card. Or can you use decentralized exchanges (DEXs) and aggregators such as Orca and Jupiter for purchasing SOL.
2. Storing Your SOL:
Once you’ve purchased SOL, you need a secure place to store it.
Centralized Exchanges:
Although there is an easy way to store your SOL on centralized exchanges, there are other risks such as exchange hacks or insolvency can still be found. It underlines the danger of entrusting the custody of your assets to an exchange.
Solana Wallets:
Source: coincodex.com
For enhanced security, it might be a good idea to use a self-custodial wallet. Solana-compatible wallets like Solflare and Phantom are specialized for the Solana network which includes storing SOL tokens, viewing NFTs, and performing in-app swaps. Those who like to take an extra step to secure their investments, hardware wallets such as Trezor and Ledger are supported by SOL can be settled and are best for long-term storage.
3. Tracking Transactions with Solscan:
If you want to keep an eye on the transactions that are being processed or the status of the operations in the Solana Blockchain network, you can use a blockchain explorer like Solscan. By inserting your transaction hash, wallet address, or any Solana network address in the search box, you will be able to watch all transaction activities, and view account balances, and token details. Another block explorer such as SolanaFM and Solana Beach also provide advanced analytics including validator statistics and the recently launched tokens.
Absorbing this guide to the tools and strategies to use you will become able to invest in Solana and safely manage your assets.
Solana incorporates several innovative technologies and features that distinguish it from other blockchain platforms. Let’s dive into that.
Innovative Technologies and Features of Solana Blockchain:
The Tower BFT algorithm is Solana’s consensus mechanism designed to provide high security and scalability. It builds on the traditional Byzantine Fault Tolerance (BFT) model but incorporates Solana’s Proof of History (PoH) to enhance its efficiency.
By leveraging PoH’s timestamping, Tower BFT enhances the speed and efficiency of the consensus process, enabling Solana to handle a high volume of transactions with low latency.
2. Gulf Stream:
Source: medium.com
Gulf Stream is Solana’ Blockchain’s transaction forwarding protocol designed to improve the network’s efficiency and performance.
By reducing the time between transaction submission and finalization, Gulf Stream contributes to Solana’s high transaction throughput and low latency. It helps the network handle a large number of transactions efficiently.
3. Sealevel:
Source: solana.com
Sealevel is Solana’s parallel smart contract runtime that allows for concurrent execution of multiple smart contracts.
Sealevel’s parallel execution capabilities greatly increase Solana’s scalability and efficiency. It allows the network to process a higher volume of transactions and smart contracts in parallel, leading to faster execution times and reduced bottlenecks.
4. Wormhole:
Source: kryptozeitung.com
Wormhole is a cross-chain communication protocol that enables interoperability between different blockchain networks.
By enabling cross-chain communication, Wormhole expands the usability and reach of the Solana network. It enhances Solana’s flexibility and integrates it into a broader ecosystem of blockchain platforms, allowing users to leverage assets and services from other networks.
There are some popular projects on Solana Blockchain. Let’s explore that.
Popular Projects on Solana Blockchain:
1. Serum:
Category: Decentralized Exchange (DEX)
Overview: Serum is a high-performance DEX built on Solana Blockchain, offering decentralized trading with ultra-low fees and fast transaction speeds. It features an order book model, unlike many AMM-based DEXs, allowing users to place limit orders and access deep liquidity.
2. Raydium:
Category: Automated Market Maker (AMM) and Liquidity Provider
Overview: Raydium is an AMM built on Solana Blockchain that integrates with Serum’s order book, providing users with liquidity and allowing them to swap tokens with low fees. Raydium also offers yield farming and staking opportunities.
3. Solend:
Category: Decentralized Lending Protocol
Overview: Solend is a decentralized borrowing and lending platform on Solana Blockchain. Users can lend their assets to earn interest or borrow assets by providing collateral.
4. Phantom:
Category: Crypto Wallet
Overview: Phantom is a non-custodial wallet designed for the Solana blockchain. It allows users to store their SOL tokens, interact with dApps, and manage NFTs and tokens on the Solana network.
5. Mango Markets:
Category: Decentralized Exchange (DEX) and Trading Platform
Overview: Mango Markets offers a decentralized platform for spot trading, perpetual futures, and lending on Solana Blockchain. It aims to combine the liquidity and usability of centralized exchanges with the benefits of DeFi.
6. Audius:
Category: Decentralized Music Streaming Platform
Overview: Audius is a decentralized platform that allows artists to publish and monetize their music without intermediaries. Although originally built on Ethereum, Audius integrated Solana to improve scalability and transaction speed.
7. Star Atlas:
Category: Blockchain Gaming & Metaverse
Overview: Star Atlas is a massive multiplayer online game (MMO) built on Solana Blockchain, set in a futuristic space metaverse. Players can explore, trade, and battle within a fully decentralized environment.
8. Magic Eden:
Category: NFT Marketplace
Overview: Magic Eden is a leading marketplace for buying, selling, and trading NFTs on Solana Blockchain. It offers a user-friendly interface, low fees, and fast transactions.
9. Orca:
Category: Decentralized Exchange (DEX)
Overview: Orca is a Solana Blockchain-based AMM (automated market maker) that allows users to trade tokens with minimal fees. It’s known for its user-friendly interface and smooth token swapping experience.
10. Kin:
Category: Digital Currency for Apps and Games
Overview: Kin is a cryptocurrency that can be integrated into various apps, enabling developers to reward users with tokens for engagement. Kin moved to Solana to take advantage of its scalability and low fees.
Solana is a powerful blockchain and it stands out with its high-speed transactions, low fees, and innovative technologies like Tower BFT, Gulf Stream, and Sealevel. Its growing ecosystem of projects, from DeFi to NFTs, offers exciting opportunities for users and developers alike.
Now that you know what makes Solana Blockchain unique, is it the right blockchain to explore? We’d love to hear your thoughts—leave a comment below!
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Case Studies & Implementations of Blockchain in Healthcare
Challenges & Limitations of Using Blockchain in Healthcare
Today, one of the biggest challenges in healthcare is managing patient data securely and efficiently. From the medical reports to unauthorized access, the risks remain high. Blockchain technology, best known for powering digital cryptocurrencies, has come aboard to help solve these issues in healthcare. By providing safe and decentralized storage, Blockchain aims to provide a transparent and secure healthcare system. So, how does it work, and what impact does Blockchain have on healthcare? In this blog, we will explore how Blockchain technology is bringing transparency, security, and efficiency to the Healthcare system. Well, let’s break that down!
You might wonder, what role Blockchain is playing in this healthcare system. Why Blockchain technology has become so important in healthcare? Well, Blockchain in healthcare plays a transformative role in addressing the most important issues that revolve around data security, interoperability, transparency, and efficiency.
Role of Blockchain in Healthcare:
1. Enhanced Data Security:
In healthcare, Blockchain contributes to the security of sensitive health data. Health systems are a prime target for cyber-attacks, whereby data breaches lead to unauthorized access. Blockchain’s decentralized and cryptographic guaranteed that:
Immutable Data: The moment patient data enters the blockchain, it can no longer be tampered with or changed without the network consensus that ensures the integrity of the data.
Decentralized Access: Blockchain eliminates one single point of failure, making healthcare data less vulnerable to hacking.
Encryption: Patient data on the blockchain is encrypted, and only those subjected to the correct decryption key have access to information for privacy and confidentiality’s sake.
2. Enabling Interoperability:
Healthcare data typically resides in silos across various systems. This creates barriers to sharing patient information between providers. Blockchain provides a unified, decentralized platform for seamless data sharing:
Access Across Providers: Blockchain provides access and sharing of a patient’s data with different systems of healthcare providers, whether those are from hospitals, clinics, or specialists.
The Patient-Centric Model: Blockchain puts the patient in complete control of their data, giving patients discretion over who sees their information. This helps bring more transparency into health care.
Interoperable Systems: Blockchain helps integrate various healthcare systems where access to medical records, test results, and treatment plans can be viewed in real time for better care coordination.
3. Supply Chain Management Improvement:
In the field of pharmaceuticals, blockchain improves one critical aspect of traceability and transparency of drug supply. This is important in ensuring the authenticity of drugs and that counterfeit medications do not reach patients:
Traceability: Blockchain tracks every step of the drug manufacturing, distribution, and delivery process tamper-proof log of the drug’s journey.
Transparency: Both the manufacturers and distributors, pharmacies, and regulators within the supply chain can access the real-time data of drug batches, thus helping in building accountability.
Fraud Prevention: Blockchain prevents the entry of counterfeit drugs into market circulation since only authorized participants are granted access to the supply chain, fraudsters can be deterred.
4. Smoothening Medical Billing and Claims Processing:
Blockchain can ease the complex and time-consuming process of medical billing and insurance claims with its transparent, automated system:
Smart contracts: These self-executing contracts would automate the processes of payment between providers patients and insurance companies. Treatment is delivered, while smart contracts verify for coverage and allow for payment to be made.
Fraud Reduction: The clarity of blockchain means that all transactions are clear as crystal, not only transparent but also verifiable. This reduces fraudulent claims.
Efficiency: Elimination of intermediaries and automation of the verification process quickens up the reimbursement process due to reduced administrative overhead.
5. Improvement in Clinical Trials and Research:
Blockchain enhances the integrity, transparency, and security of clinical trials and research by providing a tamper-proof platform for data management in:
Data Integrity: Blockchain ensures that no alteration or manipulation in the clinical trial data, whether it involves patient recruitment, trial results, or consent forms, will occur and that all elements are accurate.
Management of Patient Consent: Blockchain documents and manages patient consent to trials in a very secure manner.
Data Sharing: Researchers can securely share data on trials with their collaborators and regulatory bodies, being sure that none of the intellectual property or patient privacy is breached.
6. Improve Public Health and Disease Surveillance:
Blockchain can play a very pivotal role in public health since it allows real-time sharing of data on the surveillance or outbreaks of diseases to manage them:
Real-Time Data Tracking: Blockchain enables the sharing of health data by different healthcare providers in real-time, public health authorities, and researchers in a secure manner, which will be very helpful in pandemics or outbreaks of some diseases. Vaccination and immunization information can be stored securely and managed through blockchain technology, whereby helps public health authorities to track immunization coverage and monitor the distribution of vaccines correspondingly.
Data Privacy: Blockchain anonymizes and protects sensitive health data while providing valuable insights into public health research and policymaking.
7. Telemedicine and Remote Monitoring:
The emergence of telemedicine and remote health monitoring devices leverage blockchain to ensure security and privacy in patients’ data during online consultations and the transfer of data:
Secure Data Transmission: The blockchain encrypts and secures patient data from wearables that may relate to health monitoring, such as glucose or heart rate monitors, making this type of information accurate and tamper-proof.
Privacy in Telemedicine: Blockchain protects the privacy of a patient in a telemedicine session. That ensures consultation and medical records stay private.
Patient Control: The patient can stay in control by determining who should get access to his health data and under what conditions.
8. Genomic Data Sharing:
Genomic information is sensitive and personal, still, the sharing of genomic data is very important. Blockchain can manage and share genomic data securely in the following manner:
Ownership: The ownership of genomic data rests with the patient. The right to decide upon who gets access to it and when, whenever necessary for research or other purposes, is solely left to the patient’s discretion.
Privacy and Security: Blockchain ensures that genomic data is stored and shared in a secure environment, reducing the potential incidents of access and hacking.
Monetization: Blockchain provides an avenue for an individual to share their genomic data with researchers or pharmaceutical companies at a prescribed fee while still having total control of use.
9. Fraud Prevention and Compliance:
Fraud in healthcare has been reduced because Blockchain will maintain a transparent and irreversible record of all transactions and activities:
Blockchain Prevents Fraudulent Claims: With blockchain technology, the transparency it provides to insurance companies means verifying each claim for validity to prevent fraud.
Regulation: Blockchain provides regulatory authorities with a transparently tamper-proof audit trail for proving the compliance of healthcare providers with industry standards and regulations.
10. Public Health Surveillance:
Blockchain can be used to collect, analyze, and share public health data securely, helping track the spread of diseases like COVID-19.
Real-Time Data Sharing: Blockchain can enable real-time sharing of health data between healthcare providers, researchers, and government bodies.
Privacy Protection: Blockchain ensures that personal health data is anonymized while still providing useful information for public health surveillance.
Outbreak Tracking: Blockchain can help track the spread of diseases and manage vaccination distribution more efficiently.
But what will be the benefits for you as a user? Blockchain offers significant benefits for patient data security and management by creating a system that is decentralized, immutable, and transparent.
Benefits of Using Blockchain in Healthcare:
1. Enhanced Data Security and Privacy:
Blockchain applies cryptographic methods in securing patient information. Once information about the patient is on the blockchain, the information is encrypted and stored in a decentralized network, where accessing and tampering will be very difficult for an unauthorized user. Each block of information is joined with its previous one in a cryptographic hash, where only authorized parties will have access to and decrypt the data.
Benefit: It helps to prevent patient information, such as medical records, test results, and other personal health information, from being accessed by cyber hackers through cyberattacks and data breaches. Furthermore, blockchain gets rid of any central storage systems as the technology does not necessitate nodes having to store data in one single location, and it reduces single points of failure that the hacker can use to obtain entry.
Example: Permissioned access would mean that in a blockchain-based healthcare system, only the allowed doctor, nurse, or healthcare provider will get to view a patient’s case history after permission from the patient. This implies data privacy and a very reduced chance of data theft.
2. Patient Control Over Data (Ownership and Consent Management):
The blockchain affords the patient ownership of their health data. Through the blockchain, a patient can manage their data by controlling who has access to those records. They may grant or revoke permission from healthcare providers, insurance companies, or even researchers to make certain that data is shared only upon explicit consent.
Benefit: In return, benefits come in the form of increased transparency and trust. It involves active participation by patients in managing their health data. It rules out the use of any third-party intermediary and central databases; this means access or sharing of the patient’s data cannot be done without prior permission.
Example: Patients can give temporary permission through blockchain to a new doctor to access the medical records for a particular treatment, and once the particular treatment is over, they can revoke the doctor’s permissions.
3. Immutable and Tamper-Proof Records:
One of the main characteristics of blockchain is its immutability. Once data has been added, it cannot be changed or deleted. Each time a healthcare professional edits a patient record by providing a new diagnosis, prescribing, or treatment, the information gets labeled with the time and date it is entered and gets added to the blockchain as a new block.
Benefit: This, in return, provides the benefit wherein medical records are tamper-proof. None can alter any patient information or trace history and change the prescription without going undetected. This is one of the most crucial features of ensuring that medical fraud, misdiagnosis, and data corruption cases are at complete avoidance.
Example: A blockchain-powered hospital management system will ensure that any modification made to a patient’s record is authenticated. In case of alteration of any earlier entry, the system will flag the change immediately, guaranteeing accountability and transparency.
4. Interoperability and Data Sharing:
Blockchain allows the secure sharing of a patient’s data amongst various healthcare providers and institutions. It creates a unified, decentralized system whereby, with need and authentic consent, various healthcare entities have access to updated medical records, lab reports, and other health data. Data stored on a blockchain is shareable right across systems, irrespective of the software or network in use by different organizations.
Benefit: Interoperability ensures access to patient records is readily available, thereby negating the delay in treatment or duplication of tests or procedures. Thus, healthcare professionals will be in a stronger position to coordinate better for better patient outcomes-assuring better coordination in the care experience.
Example: If a patient sees different doctors in various locations, through blockchain, their medical record updates could be performed instantly and at every location. This would avoid gaps in information and the incidence of medical errors due to miscommunication or outdated records.
5. Reduced Administrative Costs and Errors:
Blockchain automates patient data management and consent, eliminating paperwork, the need for manual data entry, and record checking. Further, smart contracts could provide complete automation of patient check-ins, billing, insurance claims processing, and consent, assuring that any business processes are executed per rules established upfront.
Benefit: This will reduce human errors while handling sensitive information about patients, and hence it will cut down on the costs associated with administration needed for health records maintenance. Since the blockchain cuts out the intermediaries, it speeds up workflows, cutting inefficiencies in the management of healthcare services, thereby helping a healthcare provider devote greater time to patient care.
Example: A hospital using blockchain can automate its insurance claim verification through smart contracts with the least possibility of errors and disputes. This cuts administrative overhead and ascertains that the patients get timely approvals for treatments.
Here are some real-world case studies and implementations of blockchain in healthcare, demonstrating how different organizations have utilized the technology to improve data security, transparency, and management in healthcare systems.
Case Studies & Implementations of Blockchain in Healthcare:
1. MedRec: Blockchain for Electronic Medical Records (EMR)
Use Case: Secure Management of Electronic Medical Records
Overview: Developed by MIT Media Lab, MedRec is a blockchain-based system for managing electronic medical records (EMRs). The platform aims to provide patients with a comprehensive, immutable medical history across multiple healthcare providers while ensuring data integrity and security.
Implementation: MedRec allows patients to access their medical history and manage consent for data sharing. Healthcare providers can securely share medical records, ensuring interoperability between different systems without compromising data privacy.
2. MedicalChain: Blockchain for Secure Health Record Sharing
Source: medicalchain.com
Use Case: Secure Patient Data Sharing and Telemedicine
Overview: MedicalChain uses blockchain to create a secure platform where patients can store and share their medical records. The platform also offers telemedicine services, allowing doctors to consult with patients using verified medical data on the blockchain.
Implementation: Patients can create a comprehensive health record, stored on a blockchain that can be shared with healthcare professionals, labs, or insurance companies with explicit permission. Telemedicine consultations are recorded on the blockchain, ensuring accurate medical histories and treatment records.
3. Guardtime: Blockchain for Healthcare Data Integrity in Estonia
Source: Guardtime
Use Case: Ensuring Data Integrity for National Healthcare System
Overview: Estonia’s national healthcare system uses blockchain technology, provided by Guardtime, to secure healthcare data for its citizens. Estonia has been a global leader in implementing blockchain across various sectors, including healthcare, to enhance data security.
Implementation: Guardtime’s blockchain-based system stores digital signatures (hashes) of healthcare records on the blockchain, allowing verification of data authenticity and preventing tampering. Healthcare providers, patients, and regulatory authorities can verify the integrity of records without accessing the actual data.
4. Pharmaceutical Supply Chain: IBM and Walmart’s Blockchain Initiative
Source: bitexpert.io
Use Case: Drug Traceability and Counterfeit Prevention
Overview: IBM and Walmart teamed up to use blockchain to improve the transparency and traceability of pharmaceutical supply chains. The project aims to combat counterfeit drugs by tracking the entire lifecycle of medications.
Implementation: Using IBM’s blockchain platform, the project tracks every stage of the drug supply chain, from manufacturing to distribution to pharmacies. Each transaction is logged on the blockchain, ensuring that only authorized participants can update or access the data.
5. SimplyVital Health: Blockchain for Healthcare Payments and Data Sharing
Source: Blocktribune.com
Use Case: Payment Transparency and Secure Data Sharing for Value-Based Healthcare
Overview: SimplyVital Health is a blockchain-based platform designed to facilitate value-based healthcare by providing secure data sharing and transparent payments between healthcare providers. The platform focuses on care coordination and tracking outcomes to align with healthcare reimbursement models based on patient outcomes.
Implementation: SimplyVital uses blockchain to allow healthcare providers to share medical data securely, enabling better collaboration for patient care. The platform also tracks payments and reimbursement transparently, ensuring that providers are paid based on patient outcomes, rather than service volume.
6. Solve. Care: Blockchain for Healthcare Administration
Source: ndsp.com.au
Use Case: Streamlining Healthcare Administration and Patient Payments
Overview: Solve. Care is a decentralized platform that uses blockchain to streamline healthcare administration, including appointment scheduling, medical billing, and patient payments. The platform leverages smart contracts to automate processes, reducing administrative overhead and improving transparency.
Implementation: Patients, providers, and insurance companies can interact on the blockchain, automating various administrative tasks. Smart contracts ensure that payments are made automatically once services are provided, reducing delays in billing and reimbursement.
7. BurstIQ: Blockchain for Precision Medicine and Data Sharing
Source: blockchainmagazine.net
Use Case: Secure Data Exchange for Precision Medicine and Research
Overview: BurstIQ uses blockchain to securely share large datasets for precision medicine, enabling researchers, healthcare providers, and patients to exchange data without compromising privacy. The platform is designed to promote collaboration in medical research while ensuring data security.
Implementation: The platform stores and manages patient data on the blockchain, allowing it to be securely shared with authorized parties for research purposes. Patients retain control over their data, and they can choose to share it with specific researchers or healthcare providers.
But there are some challenges and limitations as well, which you need to be aware of.
Challenges & Limitations of Using Blockchain in Healthcare:
1. Adoption:
Integrating blockchain into existing healthcare systems requires significant infrastructure changes and regulatory support.
2. Scalability:
Blockchain networks can become slow and costly when handling large amounts of data, such as detailed medical records.
3. Data Privacy Concerns:
Despite its security features, the decentralized nature of blockchain raises concerns about how personal data is stored and shared across networks.
Blockchain technology has the potential to transform healthcare by improving the security, transparency, and efficiency of medical systems. While challenges remain, including scalability and regulatory hurdles, the technology offers promising solutions for managing patient data, securing drug supply chains, ensuring the integrity of clinical trials, and streamlining medical billing. As the technology matures, more healthcare organizations are likely to adopt blockchain, ultimately leading to better patient outcomes and more efficient healthcare systems.
But what does the future hold for blockchain in healthcare? How will it impact patient outcomes, medical research, and healthcare accessibility in the years to come? Could blockchain become the backbone of a fully digitized healthcare ecosystem?
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How NFTs are Helping Raise Funds for Cancer Support Charity Maggie’s
In a creative twist on fundraising, renowned digital artist Trevor Jones is “locked up” in a charity event called Jail or Bail—and he’s calling on the NFT community to help bail him out. Trevor is facing some pretty hefty (but tongue-in-cheek) charges: leading a digital art rebellion against traditional art institutions. However, his real mission is much more noble—raising money for Maggie’s Centres, a charity dedicated to providing vital support for those affected by cancer.
The Cause: Maggie’s Centres and Cancer Support
With over 50% of people likely to face a cancer diagnosis in their lifetime, the need for cancer support is greater than ever. Maggie’s Centres step in where they’re needed most, offering emotional, practical, and social support to those dealing with cancer, as well as their families. It’s more than just medical assistance—it’s about making sure no one has to face the journey alone. Maggie’s holistic approach to cancer care includes everything from mental health support to advice on treatment and managing finances.
The NFT Drop: 100 ‘Jail or Bail’ NFTs
Trevor Jones is raising bail through a limited edition of 100 ‘Jail or Bail’ NFTs, priced at 0.0269 ETH (approximately $69). Each NFT not only helps “bail” Trevor out, but also contributes 100% of the funds raised to Maggie’s Centres. These NFTs offer a unique opportunity for collectors to support a meaningful cause while owning a piece of art that symbolizes the fusion of creativity, community, and compassion.
At the time of writing, 33 out of the 100 NFTs have already been minted, showing the strong support from the community. This is more than just a charity drop—it’s a call to arms for the NFT and digital art space to come together for a cause bigger than itself.
Why This Matters: NFTs for Social Good
NFTs have often been criticized for being speculative or indulgent, but initiatives like Jail or Bail demonstrate their real-world impact. By using the blockchain to raise funds for charity, Trevor Jones and the NFT community are showcasing how digital art can contribute to social causes. It also shows the growing trend of artists leveraging NFTs for philanthropic endeavors, adding a layer of purpose to their work.
Get Involved: How You Can Help
If you want to support Trevor Jones and Maggie’s Centres, you can mint one of the limited Jail or Bail NFTs. Not only will you help free Trevor from his “digital rebellion charges,” but you’ll also be making a tangible difference in the lives of people affected by cancer.
With only 67 more NFTs to go, the clock is ticking. This is your chance to contribute to a meaningful cause while owning a piece of art that stands for more than just its aesthetic value. Join the digital art revolution, and help Trevor make his great escape—all in the name of charity!
TLDR: Digital artist Trevor Jones is participating in a Jail or Bail charity event to raise money for Maggie’s Centres, a cancer support charity. He’s selling 100 limited-edition NFTs priced at 0.0269 ETH (~$69), with 100% of the funds going to the charity. This campaign highlights how NFTs can be used for social good, merging digital art with philanthropy.
An Post, the national postal service of Ireland, has introduced its first series of traditional, physical stamps paired with non-fungible token (NFT) versions.
The stamps were designed by artist Kasia Oźmin using Mid-journey, a generative AI program that creates images based on text prompts.
Limited to just 10,000 units, the stamps showcase aspects of Irish life under the theme “Imagine Ireland.” Their designs feature elements of the Irish landscape, merging innovation with traditional rural themes.
Among the stamps is the ‘N’ national rate stamp, which covers postage within Ireland. This stamp aims to challenge views on housing and presents a forward-thinking solution. Another stamp, the ‘W’ international rate stamp, focuses on the future of transport for sending mail globally.
The NFT counterparts of the stamps are minted on the Polygon blockchain in partnership with the NFT platform Ciphers.me. Buyers will receive a PIN code that allows them to access the NFT on Ciphers. They can then store it in MetaMask or other compatible wallets.
Des Morley, Chief Digital and Technology Officer at An Post, commented on the launch, stating, “At An Post, we are applying digital innovation across our business – in this case, to one of our most renowned products, stamps. In a spirit of co-operation with International posts we are charting the impact of AI and Crypto by continuing to engage with and learn from emerging technologies.”
With this launch, An Post joins a growing number of postal services that have issued their own NFT stamp collections. In July, Guernsey Post released its own series of NFT stamps.
Similarly, both Belgian Post Group and Deutsche Post in Germany have introduced their versions of NFT stamps. Earlier in May, Ghana Post also linked commemorative stamps to NFTs, celebrating the 25th coronation anniversary of Otumfuo Osei Tutu II and recognizing his role in Ghana’s progress.
Whether looking for a time-traveling adventure, strategic roleplay or epic action, anyone can find something to play on GeForce NOW, with over 2,000 games in the cloud.
The GeForce NOW library continues to grow with seven titles arriving this week, including the role-playing game GreedFall II: The Dying World from developer Spiders and publisher Nacon.
Plus, be sure to claim the new in-game reward for Guild Wars 2 for extra style points.
GeForce NOW is improving experiences for members using Windows on Arm laptops. Support for these products is currently in beta, and improvements will be included in the GeForce NOW 2.0.67 app update, rolling out this week to bring GeForce NOW streaming at up to 4K resolution, 120 frames per second and high dynamic range to Arm-based laptops.
Greed Is Good
Greed falls, frame rates rise in the cloud.
GreedFall II: The Dying World, the sequel to the acclaimed GreedFall, transports players to a captivating world set three years before the events of the original game. It features a revamped combat system, offering players enhanced control over Companions, and introduces a tactic pause feature during live battles for strategic planning. In this immersive adventure, step into the shoes of a person native to the magical archipelago uprooted from their homeland and thrust into the complex political landscape of the Old Continent. GreedFall II delivers an immersive experience filled with alliances, schemes and intense battles as players navigate the treacherous waters of colonial conflict and supernatural forces.
Members can shape the destiny of the Old Continent all from the cloud. Ultimate and Priority members can elevate their gaming experiences with longer gaming sessions and higher-resolution gameplay over free members. Upgrade today to get immersed in the fight for freedom.
Adventure in Style
The Guild Wars 2: Janthir Wilds expansion is here, bringing new adventures and challenges to explore in the world of Tyria. To celebrate this release, GeForce NOW is offering a special member reward: a unique style bundle to enliven members’ in-game experiences.
So fancy.
Transform characters’ hairstyle, horns and facial hair, customize armor and tailor a wardrobe for epic quests. The reward allows players to stand out as a true champion of Tyria while exploring the new lands of Janthir.
Members enrolled in the GeForce NOW rewards program can check their email for instructions on how to claim the reward. Ultimate and Priority members can redeem their style packages today, and free members can access the reward beginning on Friday, Sept. 27. Don’t miss out — the offer is available through Saturday, Oct. 26, on a first-come, first-served basis.
Something for Everyone
The apocalypse never looked so good.
The hit survival action shooter Remnant II from Arc Games this week released its newest and final downloadable content (DLC), The Dark Horizon, along with a free update that brings a brand-new game mode called Boss Rush. In the DLC, players return to N’Erud and uncover a mysterious place preserved in time, where alien farmlands are tended by robots for inhabitants who have long since perished. But time corrupts all, and robotic creations threaten at every turn. Stream the game instantly on GeForce NOW without waiting for downloads or updates.
Members can look for the following games available to stream in the cloud this week:
Witchfire (New release on Steam, Sept. 23)
Tiny Glade (New release on Steam, Sept. 23)
Disney Epic Mickey: Rebrushed (New release on Steam, Sept. 24)
GreedFall II: The Dying World (New release on Steam, Sept. 24)
Breachway (New release on Steam, Sept. 26)
Mechabellum (New release on Steam, Sept. 26)
Monopoly (New release on Ubisoft Connect, Sept. 26)
What are you planning to play this weekend? Let us know on X or in the comments below.
Combat or diplomacy—what’s your go-to approach in RPGs? 🤔
— 🌩️ NVIDIA GeForce NOW (@NVIDIAGFN) September 25, 2024
The kids are back to school and summer vacation is now just a memory. Frequent business travelers are back to the grind, but that does not mean we should overlook our wellness and comfort. These popular products can improve your travels, home life and overall well-being.
BelliWelli daily fiber and probiotics powder
This easy-to-mix powder from BelliWelli is packed with fiber and probiotics for healthy metabolism, more energy and less bloating. It comes in individual packets with various flavors that are easy to put in a briefcase or carry-on bag or a small container with a secure top. That’s great for families or business travelers on longer trips, especially if criss crossing time zones confusing the body’s normal appetite. It is best to enjoy at breakfast because it can help you feel fuller throughout the day. BelliWelli also has snack bars that are a great supplement for a snack any time during the day.
Dollar Shave Club razors
I love saving cash, who doesn’t? From high-quality handles with three-bladed razors that attach to a sturdy handle to body shaving products that are lightweight and easy to carry, Dollar Shave Club has made a name for itself with top-notch products at a discount. Personally, I love how their razors last for so long, which saves me cash and space in my bag since I do not have to carry extra razors on a month-long trip. The body wash smells really nice, almost like a cologne. I wonder if the antiperspirant and the line’s own cologne are just as appealing. There is even a groin spray that frequent travelers could really appreciate after a long day of travel.
Twillory AIR Suit
If you’re like me, I run hot. The Twillory AIR Suit has breathable fabric in the jacket and in the pants that allows air to flow through making you feel comfortable and refreshed. I use the jacket for formal and informal situations. My go-to look is wearing the blazer with a pair of jeans creating a relaxed, business-casual look. International travelers know all too well that air conditioning is not appreciated overseas the same way it is in the U.S. This blazer, and now the full suit, have been a lifesaver when I do business in parts of Europe, Africa and Asia where air conditioning is not the same. The number of compliments I get for the stretchy fabric and color is the icing on the cake. it is also machine-washable and has zippered pockets for important items.
Columbia sunglasses
The brand famous for its outerwear also has exceptional eyewear too. Its polarized sunglasses will protect your eyes and face whether you’re at the beach, fishing on the coast or exploring the starting snowfall of the slopes (it also has its own line of goggles, too). They come in a variety of styles and price points for the active traveler, but all with the quality for which Columbia is known. I especially like this tortoise shell pattern.
TESSAN power strip and wall plug
If you have ever been in a hotel or airport lounge with limited access to power outlets, you will really appreciate the TESSAN power strip and wall plug. They both help to save space by requiring only one outlet, but then diverting that energy to numerous ports for you to plug in standard and USB devices to charge simultaneously. The power strip is a great item to use at home, too, since it can be tucked discreetly behind a piece of furniture while you keep all of your devices plugged into one place.
I like the wall outlet multi-plug adapter because it means I do not have to worry about anyone tripping over my power strip cord. Both are essential items for frequent travelers, but also make a great holiday gift back home.
Liquid I.V. hydration packets
Earlier this summer, Liquid I.V.® wanted to celebrate the season with iconic flavors that recall special memories from childhood like Popsicle® Firecracker Hydration Multiplier with hints of citrus-fueled lemon lime, tart cherry and raspberry, just like those chilly treats. Sugar-free Rainbow Sherbet has flavors of raspberry, tangy orange and zesty lime. Add these powders to a bottle of water to hydrate the body faster than a normal glass of water. These are great for frequent travelers, flight crew and kids who spend a lot of time after school sweating at sports practice.
New for fall is the launch of Hydration Multiplier® +Energy Blackberry Peach hydration packets. These include approximately 100mg of natural caffeine. That’s the same as a couple of cups of coffee. This makes it the perfect morning hydration tool since it has caffeine and three times the electrolytes of other sports drinks. It is great for frequent travelers, especially those that cross various time zones and are fighting jet lag.
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Ramsey Qubein
Ramsey Qubein is a freelance travel journalist covering hotels, cruises, airlines, and loyalty programs from around the globe.
Learning how to set up a crypto wallet is key for storing and managing your digital assets. A crypto wallet lets you send, receive, and track your cryptocurrencies securely. With different types available, choosing the right wallet can affect your experience.
This guide will show you how to get a crypto wallet that meets your needs, ensuring your investment is protected. Let’s look at the types of wallets and how to create one today.
Key Takeaways:
A crypto wallet is a digital tool that allows you to hold, send, and receive cryptocurrencies, serving as the online equivalent of a traditional wallet.There are various types of crypto wallets, including hot wallets, cold wallets, and paper wallets, each offering different levels of security and accessibility.To set up a crypto wallet, choose a provider, download the software, create a new wallet, back up your recovery phrase, and secure it with a strong password.
Cryptocurrency Wallet Explained
A cryptocurrency wallet is a digital tool. It enables you to hold, send, and receive digital assets such as BTC and ETH. Consider it a digital counterpart of your pocket wallet, except instead of keeping cash and cards, it stores your cryptocurrency.
When you hold crypto assets, you actually have a set of private keys. These keys are lengthy sequences of numbers and letters that serve as proof of ownership for your digital currency. A cryptocurrency wallet saves these keys and allows you to utilize them to complete transactions.
Types of Crypto Wallet
Hot Wallets (Software Wallets): Hot wallets link to the internet. They are convenient since you can access your cryptocurrency at any time and from any location. Examples include mobile applications and web-based wallets. However, being online increases their vulnerability to hackers.Cold Wallets: Cold wallets, also known as hardware wallets, are physical devices that store cryptocurrency offline. They resemble USB sticks (like Ledger Nano X) and are regarded as extremely secure. The disadvantage is that they are less suitable for frequent trade.Paper Wallets: Paper wallets are simple pieces of paper that have your public and private keys written on them. It is fully offline, making it secure against hackers, but it is easily lost or destroyed.Desktop Wallets: These are programs you install on your computer. They give you full control over your wallet but are only accessible from that specific computer.Mobile Wallets: Mobile wallets are smartphone apps. They’re very convenient for everyday use and can often scan QR codes for quick payments.Web Wallets: Web wallets are accessed through a browser. They’re easy to use but rely on a third-party to keep your keys safe.
How to Get a Crypto Wallet – Steps and Guide
How to Create a Software Wallet
Software wallets are the most common and easiest to set up. Here’s a general guide:
Step 1: Select a wallet provider
Exodus, Trust Wallet, and Coinbase Wallet are a few well-liked choices. Find one with strong security features and support for the cryptocurrency you wish to use by doing some research.
Step 2: Download and Install the Wallet:
Once you’ve chosen a wallet, visit the official website or app store (for mobile wallets) and download the software. Be cautious about downloading from legitimate sources to avoid phishing attacks or malicious software.
For mobile wallets, go to Google Play (Android) or the Apple App Store (iOS).For desktop wallets, download the application directly from the wallet’s official website.
Step 3: Create a New Wallet
Open the wallet app when the program has been installed. Generally, you’ll find an option to “Create a New Wallet”. After you click on this, adhere to the given directions.
Step 4: Make a copy of your recovery phrase
During the wallet creation process, the software will generate a recovery phrase (also known as a seed phrase). This is usually consisting of 12 or 24 random words. This is an important phrase because, if your gadget is lost, stolen, or compromised, it serves as a backup that lets you recover your wallet.
Important: Copy this recovery phrase onto a piece of paper and keep it somewhere safe. To minimize the possibility of hacking, do not save anything digitally.
Step 5: Set Up a Password
After you’ve backed up your recovery phrase, the next step is to set a strong password for your wallet. This password will be required every time you want to access your funds or send cryptocurrency. Make sure it’s a password you can remember but hard for others to guess.
Step 6: Get Your Wallet Working
You will now receive a public key, which is also your wallet address, after setting up your wallet. You can receive cryptocurrency by giving this address to other people. To transfer funds, you will need both the recipient’s address and access to your private key, which is safely held within the wallet.
Note: The security of a software wallet largely depends on the security of the device it’s installed on. Always keep your device updated and be cautious about downloading unknown apps or clicking suspicious links.
How to Create a Hardware Wallet
Step 1: Purchase a Hardware Wallet
The first step is to buy a reputable hardware wallet from a trusted vendor. Avoid purchasing used wallets or buying from third-party sellers to minimize the risk of tampering. Buy directly from manufacturers such as Ledger or Trezor.
Step 2: Unbox and Connect the Wallet
After your hardware wallet is delivered, open it up and carefully read the included instructions. Generally, you will need to use a USB cable or Bluetooth (for devices like the Ledger Nano X) to connect the hardware wallet to your computer or mobile device.
Step 3: Install the Wallet Software
You’ll need to install companion software on your computer or smartphone to interface with your hardware wallet. Users of Trezor will install Trezor Bridge or utilize the Trezor Suite, whereas users of Ledger will install Ledger Live. To prevent vulnerabilities, make sure your device is constantly running the most recent firmware.
Step 4: Set Up Your Wallet
After installing the software, you’ll be guided through the process of setting up your wallet. You will be prompted to:
Create a PIN: Choose a secure PIN that you’ll use to unlock your wallet. This is your first line of defense if your hardware wallet falls into the wrong hands.Backup Recovery Phrase: Just like with software wallets, your hardware wallet will generate a recovery phrase (usually 24 words). Write it down on paper and store it in a secure place.
Step 5: View and Manage Your Wallet Balance
You can use your hardware wallet to transact and receive cryptocurrency when the setup is complete. To transfer money, you must first link the wallet to your PC, then input your PIN and validate the transaction on the actual wallet.
This additional security measure makes sure that hackers cannot take your money without physical access to your wallet, even if your computer is hacked.
How to Create a Paper Wallet
Your public and private keys are physically stored on a paper wallet, which is often in the form of QR codes.
Step 1: Visit a Paper Wallet Generator
You must use a reliable wallet generator, like BitAddress, to build a paper wallet. You can easily generate a public and private key pair with these tools.
Important: To make sure your keys are safe, it is advised that you generate your paper wallet offline. This may be accomplished by downloading and unzipping the generator and then executing it on a machine that isn’t connected to the internet.
Step 2: Generate the Keys
To generate entropy and make sure the keys are as random as possible, this often entails dragging the mouse around or inputting random letters.
Step 3: Print the Wallet
After the keys have been generated, the next step is to print the paper wallet. This printout will include your public key (wallet address) and private key, often in both alphanumeric form and as QR codes. The public key can be shared with others to receive cryptocurrency, but the private key must remain confidential.
Step 4: Safely Store the Paper Wallet
Although paper wallets are quite safe in terms of digital security, they are susceptible to physical risks like theft, fire, and water damage. If required, think about keeping your paper wallet in a safe with waterproof or fireproof protection.
Best Cryptocurrency Wallets for Different Use Cases
Best Software Crypto Wallets
The best cryptocurrency software wallets to look for are:
MetaMask ranks among the top choices for managing crypto, particularly Ethereum and ERC-20 tokens. It functions as both a browser extension and mobile app, making it accessible for storing, sending, and receiving assets. The wallet is also known for its ease of use and its ability to connect with decentralized applications (dApps). MetaMask serves over 30 million users globally.Trust Wallet, endorsed by Binance, supports over 70 blockchains and millions of tokens. It also enables staking, offering users an opportunity to earn rewards. Trust Wallet is mobile-friendly and praised for its intuitive interface.Coinbase Wallet is a non-custodial wallet, separate from the centralized Coinbase exchange, giving users control over their private keys. It supports various assets like Bitcoin, Ethereum, and other ERC-20 tokens. Designed with simplicity in mind, it’s a great choice for beginners. Plus, it seamlessly integrates with dApps, providing an easy way to manage and interact with different cryptocurrencies.
Best Hardware Crypto Wallets
The best cryptocurrency hardware wallets for beginners to get are:
Ledger is a leading hardware wallet, trusted by more than 6 million users globally. It offers support for over 5,500 cryptocurrencies, including Bitcoin, Ethereum, and ERC-20 tokens. The Ledger Nano X and Nano S Plus models provide secure offline storage, safeguarding private keys from potential online threats. Through the Ledger Live app, users can easily manage their assets, stake tokens, and interact with decentralized apps. Ledger has earned its reputation by maintaining top-tier security for crypto storage.Trezor, recognized as the first-ever hardware wallet, supports over 1,000 coins. Models such as Trezor Safe 3 and Trezor Safe 5 are designed to keep private keys offline, offering high-level protection from hacks. The wallet also connects with various third-party apps and exchanges for added functionality. It includes features like passphrase protection and two-factor authentication (2FA), making Trezor a highly secure and trusted solution for managing crypto assets.The ELLIPAL Titan is a cold wallet that works on air-gapped technology. It ensures that the user’s assets are completely isolated from any internet network. The gadget has a complete metal case that provides great security against physical manipulation.
Considerations When Choosing a Crypto Wallet
Here are the factors to consider for choosing the best crypto wallet:
Security: This should be your top priority. Look for wallets with strong encryption. This includes two-factor authentication and a good track record of protecting users’ funds. For large amounts, consider using a hardware wallet for enhanced security.Supported cryptocurrencies: Make sure the wallet supports the specific cryptocurrencies you plan to use. Some wallets only work with a few high market cap coins like BTC and ETH, while others support many new projects.User interface: The wallet should be easy for you to use and navigate. If you’re new to crypto, look for wallets with simple, intuitive interfaces. More experienced users might prefer wallets with advanced features.Backup and recovery options: Ensure the wallet has a straightforward process for backing up your keys or seed phrase. This is crucial for recovering your funds if you lose access to your wallet.Development and updates: Choose a hot wallet from a reputable company that regularly updates its software to address security vulnerabilities and add new features.Control over private keys: Some cryptocurrency wallets give you full control over your private keys, while others manage them for you (like custodial wallets). Having control over your keys offers more security but also more responsibility.Transaction fees: Many crypto wallets allow you to customize transaction fees, which can be useful during times of network congestion.Integration with exchanges: If you plan to trade frequently, a wallet that integrates with major crypto exchanges like Binance and Bybit could be convenient.Mobile vs. desktop: Consider whether you need access to your wallet on-the-go (mobile) or prefer to manage your crypto from your computer (desktop).Open-source code: Since it enables the public to confirm the wallet’s security, many people choose wallets with open-source code.Extra features: Some wallets come with integrated staking possibilities, swap services, and interfaces for interacting with decentralized apps (dApps).Community and support: When you’re first starting out, having a robust user community and prompt customer service may be really helpful.
Risks Associated With Crypto Wallet
Crypto wallets come with several risks that you should be aware of:
Security breaches: Wallets can be vulnerable to hacking attempts, especially if proper security measures aren’t in place. This risk is particularly high for software wallets connected to the internet.User error: Simple mistakes like forgetting passwords, losing seed phrases, or sending crypto to incorrect addresses can result in permanent loss of funds. Unlike traditional banking, there’s often no way to reverse transactions or recover lost access.Malware: Malicious software can infect devices and potentially steal wallet information or private keys, leading to the theft of funds.Phishing attacks: To deceive users into disclosing their private keys or seed phrases, con artists may fabricate wallet interfaces or send phony emails.Software bugs: Wallet software may contain undetected bugs that could compromise security or cause malfunctions, potentially leading to loss of funds.Physical theft: For hardware wallets, physical theft of the device poses a risk, though most have security measures to prevent unauthorized use.Outdated software: If wallet software isn’t updated, known vulnerabilities may remain unpatched, raising the possibility of exploitation.Exchange risks: Users utilizing wallets based on crypto exchanges run the danger of the exchange being compromised by hackers or going bankrupt (like FTX insolvency).
Conclusion
Learning how to get a crypto wallet is critical for safely handling your Bitcoin and altcoins. A cryptocurrency wallet can be a software, hardware, or paper wallet. Each kind provides a different level of security and convenience.
Choosing the correct wallet is determined by your requirements, such as ease of access or increased security. Understanding the setup procedure and safety considerations allows you to confidently handle your digital money. Also, to prevent losing access to your crypto assets, never forget to back up your recovery phrase and secure your private keys.
FAQs
Are crypto wallets free?
Yes, most software crypto wallets are free to download and use. Examples include Trust Wallet, MetaMask, and Coinbase Wallet. However, hardware wallets, like Ledger and Trezor, come with a cost since they offer enhanced security by storing your crypto offline. While using a wallet is usually free, keep in mind that transaction fees might apply when sending or receiving cryptocurrency.
What are public and private keys?
A public key is similar to your bank account number; it is safe to share so that people can transfer you Bitcoin. A private key, like a password, must be kept hidden. It provides you with control over your crypto assets. These keys operate together to approve transactions, guaranteeing that only the private key holder has the ability to move or spend digital assets.
Is it safe to make a crypto wallet?
Yes, creating a cryptocurrency wallet is secure as long as you take the right security precautions. When creating a wallet, always generate your recovery phrase offline and keep it secure. Do not share your private key with anybody, and use secure passwords. Keep your software up to date to avoid any vulnerabilities or hacker attempts.
How to get a crypto web or extension wallet?
To get a crypto web or extension wallet, choose a trusted provider like MetaMask or Coinbase Wallet. Visit the official website and install the browser extension. After installation, create a new wallet by setting up a password and backing up your recovery phrase. Once complete, you can manage your crypto directly from your browser.
How to get a crypto mobile wallet?
To get a crypto mobile wallet, download a reputable software wallet app like Coinbase Wallet or MetaMask from the Apple App Store or Google Play Store. Most apps are available for both Android and iOS devices. Once installed, open the app and create a new wallet by following the prompts. Secure your wallet by backing up your recovery phrase and setting a strong password. Now, you can store, send, and receive crypto on your phone.
At its recent Connect conference, Meta announced several updates, including advancements in its Ray-Ban Meta glasses, Meta Quest devices, AI products, and the unveiling of its first augmented reality (AR) glasses.
Meta AR Glasses “Orion”
One of the event’s key highlights was Meta’s introduction of “Orion,” described as “the most advanced pair of AR glasses ever made.” These glasses, which look like regular sunglasses with transparent lenses, allow users to interact with 2D and 3D content within their physical surroundings.
Orion comes equipped with the Meta AI assistant, which can interpret what users are seeing in real-time. For example, Meta explained, “You can open up your refrigerator and ask for a recipe based on what’s inside.”
Meta Orion AR Glasses – Image source: Meta
Orion also integrates with WhatsApp and Messenger, enabling users to make video calls and send messages without needing to hold their phones.
Meta Orion AR Glasses – Image source: Meta
Ray-Ban Meta Glasses Add AI Features
Meta also shared updates for its Ray-Ban Meta glasses, which allow hands-free calls and photo-taking. A notable enhancement is the integration of new AI features, which improve the glasses’ interaction with Meta AI. Users can now initiate conversations with Meta AI simply by saying “Hey Meta.”
New RayBan Meta Glasses – Image source: Meta
In addition to voice commands, the glasses now support setting reminders. For instance, Meta stated, “You can use your voice to set a reminder to text your mom in three hours when you land safely.” The glasses also now let users send voice messages on WhatsApp and Messenger via Meta AI.
Users can also ask Meta AI for help in real time while exploring new locations. As they walk through a city, they can ask Meta AI for information about landmarks or suggestions on what to see next.
Introduction of Meta Quest 3S Mixed Reality Headset
Meta Quest 3S – Image source: Meta
Another announcement was the release of “Meta Quest 3S,” a lower-cost version of its Meta Quest 3 mixed reality headset.
Priced at $299.99, the Meta Quest 3S is positioned as an entry-level device for users who are new to immersive experiences or seeking a more affordable upgrade from previous versions like the Quest and Quest 2.
Meta shared that with the Quest 3S, users can enjoy various entertainment options, including watching TV on a cinema-sized screen, playing games, and attending virtual concerts.
Updates to Meta AI Products
Meta also revealed improvements to its AI offerings. Meta AI now supports voice interaction, allowing users to speak with the assistant across multiple platforms, including Messenger, Facebook, WhatsApp, and Instagram Direct Messages. The AI can respond verbally, providing a more natural interaction experience.
Another addition is the AI’s ability to interpret photos. As Meta explained, users can share a picture of a flower and ask Meta AI to identify the species. The assistant can also perform quick photo edits, such as removing objects, changing the background, or even altering the subject’s outfit.
New Meta AI Features – Image source: Meta
Meta has also extended AI functionalities to help businesses automate customer support and commerce tasks. Business AIs can now engage in conversations with customers, provide support, and help complete transactions.
The journey for blockchain protocols doesn’t end after their Token Generation Event (TGE); in many ways, it’s just the beginning. While pre-TGE projects often bask in the glow of investor hype and support, post-TGE protocols frequently face significant hurdles when attempting to raise additional funds by selling discounted tokens from their treasury.
Fragmented fundraising environments and liquidity issues plague these projects, diverting their focus from development to fundraising. Enter Vellos—a groundbreaking platform designed to address these challenges head-on.
The Fragmented Fundraising Environment
For pre-TGE projects, the fundraising landscape is bustling with venture capitalists, brokers, and launchpads eager to invest in the next big thing. However, this enthusiasm often wanes once the TGE is complete. Post-TGE protocols find themselves in a fragmented environment where:
Limited Access to Investors: VCs and funds that specialize in pre-TGE investments may not extend their services to post-TGE projects, leaving a gap in support.Focus on New Hype: Many investors chase after the newest projects generating buzz, sidelining established protocols that still require capital to grow.Time-Consuming Funding Hunts: Protocol founders are forced to spend valuable time seeking funding instead of advancing their platforms.
The lack of a centralized marketplace for post-TGE investments means there’s no streamlined way for these projects to connect with suitable investors, impeding their progress and innovation.
The Liquidity Conundrum
Liquidity poses another significant challenge:
Difficult Offloading: Existing players in the discount token market deal primarily with pre-existing SAFTs or token warrants laden with conditions, making them hard to offload.Large Ticket Sizes: Big-ticket discount token deals are tough to sell, limiting the pool of potential buyers.Concentration of Tokens: When large amounts of a protocol’s tokens are held by a single entity, it creates selling pressure as tokens vest, potentially destabilizing the token’s value.
These issues contribute to a less dynamic market, where both buyers and sellers face obstacles that hinder the ecosystem’s overall health.
Introducing Vellos: A New Opportunity for Post-TGE Protocols
Vellos emerges as a solution to these persistent problems. It is a discount token marketplace specifically tailored for post-TGE projects, aiming to democratize access to discounted tokens and streamline the fundraising process.
What is Vellos?
Vellos is a platform where projects can offer their treasury tokens at a discount directly to their loyal community and a broad spectrum of other users. By breaking down large raises into smaller, manageable ticket sizes, Vellos enables individual users to participate in funding rounds traditionally reserved for big players.
How Vellos Addresses the Challenges
Unified Marketplace: Vellos creates a centralized environment where post-TGE projects and interested investors can connect effortlessly.Enhanced Liquidity: By dealing with new investment vehicles rather than pre-existing ones, Vellos simplifies the process of buying and selling discounted tokens.Dynamic NFTs: Vellos employs proprietary dynamic NFTs that act as keys to the underlying tokens. As tokens vest, NFT owners can claim them at will, adding a layer of flexibility and security.
Key Features of Vellos
Automated Onboarding: The entire process is permissionless and automated, including wallet and token checks, reducing administrative burdens.NFT Resale Marketplace: To introduce liquidity for buyers, NFTs can be traded at any time, even before vesting begins, providing an exit strategy and market dynamism.Revenue Sharing: Projects receive a portion of the revenue from secondary NFT trades, creating an ongoing revenue stream.
The Benefits for Protocols
By leveraging Vellos, protocols can unlock several advantages:
Direct Funding from the Community
Protocols can raise funds by offering discounted tokens directly to the community that has supported them from the start. This inclusivity strengthens community bonds and diversifies the investor base.
Creation of ‘Micro-KOLs’
Each user who purchases discounted tokens becomes a ‘micro-Key Opinion Leader.’ With skin in the game at a favorable price, these users are more likely to advocate for the project, amplifying its reach and influence.
Controlled Selling Pressure
Protocols can set custom cliff and vesting terms proportional to the discount offered, allowing them to manage the selling pressure and maintain token stability.
Consistent Revenue Stream
By earning a share of the revenue from secondary NFT trades, protocols establish an additional, consistent income source that can fund ongoing development and operations.
Focus on Core Development
With fundraising streamlined through Vellos, protocol founders can dedicate more time and resources to building and enhancing their products, driving innovation and value creation.
Vellos Telegram App: Bootstrapping Community Growth
To expand and engage its community, Vellos recently launched a Telegram app that has quickly gained traction. Within the first two weeks since its launch, the app amassed 240,000 active users, signaling strong interest and participation.
The app allows users to interact with several engaging features, earning points along the way:
Doge To Earn: Players can participate in the “Doge To Earn” game, where they dodge enemies to accumulate points. The more successful they are at avoiding obstacles, the more points they can earn. Players can also use these points to upgrade their in-game features, enabling them to boost their point-earning potential over time.
Invite: Users can invite their friends to join the app, earning significant points for each referral. Additionally, they benefit from passive point-earning opportunities, receiving 16% of the points earned by their direct friends and 8% from indirect friends.
Task: Players can complete tasks, such as following Vellos on various social networks (SNS), to earn extra points and rewards.
Looking beyond just point farming, Vellos aims to utilize the Telegram app as a platform for education and community-building, providing valuable content and resources that enhance user experience and engagement over time.
Conclusion
Vellos stands poised to disrupt the post-TGE fundraising landscape by addressing the fragmentation and liquidity issues that have long hindered protocols.
By creating a unified, automated, and liquid marketplace for discounted tokens, Vellos empowers projects to connect with a broader investor base, engage their communities, and focus on what truly matters—building exceptional products in the web3 space.
To learn more:
Disclaimer: CryptoSlate is a strategic advisor for Vellos.
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