Connect with us

Blockchain

How to Make Money on The DeSo Blockchain

Published

on

cryptocurrency news

Would you like to know how to make money on the DeSo blockchain? I will discuss creator coins, referrals, and NFTs.

3 Ways to Make Money on the DeSo Blockchain

Making Money with DeSo Creator Coins

First, I will discuss what creator coins are briefly.

Overview of Creator Coins

What are creator coins? Creator coins are made when you start a new account. It is your own personal coin on the DeSo blockchain.

The more influence and popularity you gain the more people will buy into your coin and increase the price. You will want to own some of your own crypto coins on the DeSo blockchain.

Option 1 Making Money with your Creator Coin

Making money with your creator can be very complicated. Let’s play out a basic example.

Let’s say you want to buy $20 worth of creator coins, and you get five coins. Next, you start posting some great content, and everyone buys into your coin. Now the price rises to $100 per coin. Very tempting to cash out and take the money but wait.

If you sell, your coin people will think you are a scam. Now you have lost your credibility and what you create no longer has value.

When you invest in your coin, you do not want to pull out the profits if you are playing for the long term. Just buy some of your coin, so you hold a stake and use other great content providers for investment.

You will make money using your FR (Founders Reward) for your coin. When people buy your coin you will get a certain percentage of what they buy. You will want to maintain FR % between 10% and 15%.

If you want to make money off your actual coin, set up another account and use it as an investor.

deso blockchain

Option 2 DeSo Protocol Referral Program

The DeSo referral program is working through the debug system but is getting to where it needs to be. If you have participated in affiliate programs in the past, you will be set and ready to go, especially if you are already in the crypto space.

If you have not started in DeSo use my referral link so you can get free DeSo to get started and I will get some free too. After you sign up you can start sending out your own referral code.

The Krassentein Brothers made a great post today about getting your referral link out there. I think they might be part of the AMC Ape with all those crayons. Just saying.

Krassenstein~$2,395.74 Ways to earn DeSo Referrals:

?️ Write a blog post on Medium, talking about DeSo, and include your referral link.


?️ Create a YouTube video about DeSo and put your ref link in the description.


?️ Make a post about DeSo on Twitter, Facebook, Instagram, or TikTok and include your ref link.


?️ Take part in conversations about social media, censorship, NFTs, or crypto on Reddit and mention DeSo with your ref link (don’t spam).


?️ Share your NFTs or other cool NFT collections in NFT discords, subreddits (i.e. reddit.com/r/NFT & reddit.com/r/NFTsMarketplace), or social media and link to them with your ref link.


?️ Register a unique, catchy domain name (i.e. NewSocial.io), forward it to your ref link, and then advertise that URL on your hats, shirts, social media. (also use a QR code)


?️ Include your ref link on business cards.


?️ Create your own WordPress DeSo blog and hyperlink to your ref URL.

Option 3 Make Money on DeSo with NFTs

deso blockchain nfts

NFTs (Nonfungible Tokens) are another great way to make money. If you are an artist and have time to spend socializing and campaigning a little, making NFTs can be a great way to make some extra income.

The DeSo platform makes it easy to mint NFTs and very affordable. No crazy ETH gas fees here. Less than $0.01 to mint an NFT.

But wait, I’m not an artist. Well, that is not a problem either. If you have a little money and are good at wheeling and dealing you can catch a lot of NFT projects that offer a first bid accept model and turn around and resale at a higher price.

How to Make Money with the DeSo Network

If you have time and are creative you can make money using the DeSo platform. This blog post is just the tip of the Iceberg. No need to overwhelm you when you are just getting started. Stay tuned to find out more.

Continue Reading
1 Comment

1 Comment

  1. marsh

    December 10, 2021 at 2:41 pm

    really nice and and proven ways. I have bought some deso and want to learn to make more money and your blogs help me in it. i am happy to find your blog while surfing and through your blog i got to your sie and then i got to know about deso which has been something really promising and i myself have put money in it. your blog teaches a lot.

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Blockchain and Artificial Intelligence

Published

on

Artificial intelligence (AI) was introduced in 1955 by John McCarthy

Artificial intelligence (AI) is the ability of a computer program to think, learn and mimic human thought. Introduced in 1955 by John McCarthy, artificial intelligence has several different fields of study. These fields include computer science, mathematics, psychology, and philosophy, among many others. AI is linked to several different use cases. The most prominent use cases include machine learning, supply chain optimization, speech recognition, self-driving cars, and manufacturing optimization.

Now we know a bit about AI, let’s review a few examples of how AI is improving decentralized networks like blockchain.

Cryptocurrency Trading

During the past few years, artificial intelligence has substantially increased its presence in the area of crypto trading. This is particularly true with high-frequency trading (HFT). Essentially, HFT is a type of algorithmic financial trading characterized by high speeds and high turnover rates. High-frequency trading is a perfect vehicle for cryptocurrency trading because the crypto universe has several different exchanges.

HFT uses artificial intelligence to analyze multiple technical indicators across various exchanges in an effort to take advantage of market opportunities. AI is still in its infancy stage in regard to crypto trading. Going forward, artificial intelligence will play a pivotal role within the crypto trading community. These are commonly known as trading bots.

Suggested Read: What Are Public, Private, and Consortium Blockchains? – Cryptobite

Blockchain Security

Unfortunately, industries that find themselves in a hyper-growth phase are more susceptible to cyberattacks and malware. Without question, blockchain technology, along with digital assets, is currently experiencing an explosive rate of growth. Consequently, the blockchain industry has endured an exponential increase in malware, phishing, fraud, and digital theft. Based on data provided by industry experts, $9 million is lost to cryptocurrency scams on a daily basis.

The key to successfully thwarting a blockchain hack is to identify the threat and understand the nature of the attack as quickly as possible. Hackers are acutely aware that they must strike quickly in order to launch a profitable attack. Unfortunately, crypto exchanges have a poor track record in preventing cyber-attacks. AI-based cybersecurity systems are designed to detect a hack in real-time and dramatically increase the likelihood of stopping the attack. AI systems are far superior to traditional cybersecurity systems because AI has the ability to detect patterns from previous attacks. This information can be used to prevent future cyber threats.

Bitcoin Mining

As you know, all crypto transactions are verified and added to the blockchain by Bitcoin miners to maintain the integrity of the network. In exchange for their work, miners are rewarded with Bitcoin. Crypto mining requires energy consumption and computing power. Over the past few years, Bitcoin miners have explored the idea of using artificial intelligence to reduce energy waste and computing power to reduce costs.

A few of the largest mining companies have created AI-based systems, allowing companies to share power and increase profitability. AI algorithms have made crypto mining faster, more profitable, and more efficient. Without question, artificial intelligence will continue to play an essential role throughout the crypto industry.

Brief Summary of Blockchain and Artificial Intelligence

Artificial intelligence (AI) was introduced in 1955 by John McCarthy

  • AI is the ability of a computer program to think, learn and mimic human thought.
  • AI encompasses several different fields of study.
  • AI has increased its presence in cryptocurrency trading.
  • High-frequency trading uses AI to analyze technical indicators across many exchanges.
  • AI-based cybersecurity systems are designed to detect a hack in real-time.
  • Bitcoin miners use AI to reduce energy consumption and computing power.
  • A few of the largest mining companies have created AI-based ecosystems.
  • AI algorithms have made crypto mining faster, more profitable, and more efficient.
Continue Reading

Blockchain

How Does Blockchain Compare to Other Innovations?

Published

on

How Does Blockchain Compare to Other Innovations

Probably, the most innovative discoveries of the past 100 years are the world wide web (i.e., internet) and the mobile phone. By now, both these things have become a must-have of modern human beings. Let’s look at the stats. In 1995, only 17% of USA residents were using mobile phones. By 2018, only 5% of US residents still did not have this device in use. While in 1995, only 16 million people (0,4% of the world’s population) were internet users, by 2018, this number increased to 4.2 billion, which is more than half of all people. Interestingly, during the first 5 years of the internet’s existence, only 5% of all people have found it worthy enough to use.

These numbers indicate how we interact with new technologies. As a general rule, most people are skeptical of discoveries and innovations at the early stages of their existence. Still, when the benefits of using a certain technology become obvious, it spreads all over the world with the speed of light.

Typically, it takes about 10 years before the average consumer makes an effort to research a new product or service. By this time, approximately 10% to 20% of the overall population had adopted the innovation. The remaining 80% to 90% of the population is still on the sidelines, unwilling to implement this new technology into their daily lives. Within 20 years of the new product’s existence, the majority of the population finally adopted it. Without question, consumers are very slow to implement new technologies.

Suggested Read: Blockchain and the Banking Industry – Cryptobite

Adoption of Blockchain Technology

But should we wait another 20 years to see the adoption of blockchain technology? Most likely, it will occur much faster than the internet, mobile phones, automobiles, or air travel. Why? Because once the blockchain infrastructure is in place, the old ledger system becomes useless. Therefore, soon, consumers will not have to choose between the new digital ledger and the old manual ledger. Companies that won’t migrate to the blockchain will be left behind and eventually forced out of business.

Within the next decade, blockchain technology will permeate our daily lives. For example, everyday things like voting, purchasing a vehicle or a home, visiting a medical care provider, investing in the stock market, obtaining a bank loan, going to college, or shopping at a retail establishment, will encounter blockchain technology.

Most probably, within the next five to 10 years, we will encounter blockchain technology daily. This explains why it will be exponentially larger than the internet.

Brief Summary of Blockchain In Comparison to Other Innovations

  • As a general rule, people are skeptical of discoveries and innovations.
  • It takes approximately 10 years for the average consumer to become a regular user of innovations.
  • Full adoption of a new product or service takes 20 to 30 years.
  • The adoption rate of blockchain will occur much faster.
Continue Reading

Bitcoin

What Is Blockchain Consensus Algorithm?  

Published

on

What Is Blockchain Consensus Algorithm

Blockchain technology has many different moving parts. Hence, to operate smoothly, the architecture must be properly designed. An important piece of Nakamoto’s architectural design is the use of a consensus algorithm. 

Blockchain Consensus Algorithm in a Nutshell

In its simplest format, a blockchain consensus algorithm is a decision-making process. It is designed to assist in reaching a common decision by a group of people. Of course, in this particular scenario, the consensus algorithm involves blockchain-related solutions.

How Does it Work?

Let’s assume that 20 co-workers are asked to collaborate and offer a recommendation on a specific project. Each participant in the group will reach a decision that will provide the greatest individual benefit. The group must listen to each recommendation and decide which of them will provide the greatest overall benefit. The final recommendation must be accepted by all group members regardless of whether it offers the best solution for each individual.

Let’s assume that 20 co-workers are asked to collaborate and offer a recommendation on a specific project. Each participant in the group will reach a decision that will provide the greatest individual benefit. The group must listen to each recommendation and decide which of them will provide the greatest overall benefit. The final recommendation must be accepted by all group members regardless of whether it offers the best solution for each individual.

Suggested Read: Luxury Fashion Brands Are Entering The Crypto Space (cryptobite.io)

Brief Summary of Blockchain Consensus Algorithm

  • An important piece of blockchain architecture is the use of a consensus algorithm.
  • It is a decision-making process that helps a group of people to make a common decision.
  • The consensus algorithm always produces the optimum solution for the overall group.
  • A consensus algorithm helps to create fairness and equality in a decentralized ecosystem.
Continue Reading

Trending