TRANSACTION ON BLOCKCHAIN

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As a beginner, when you hear this term « TRANSACTION ON BLOCKCHAIN« , you think that it’s something supernatural and needs a lot of intelligence and a lot of science . in fact, this is not totally true, it doesn’t need all that knowledge. all you need is a small repititive techniques.

No one can ignore the fact of there are a lot of hackers who hacks the transactions and a lot of risks but everything has a solution. Maybe in the future we can post an article about how to make yourself safe .

To make this more clearer and more simpler we will answer the following questions :

  1. What is ETHEREUM ? How to make an ETHEREUM transaction ?
  2. What is NEO ? How to make an NEO token transaction  ?
  3. What is BITCOIN ? How to make a BITCOIN transaction  ?
  4. What is an ETH TOKEN ? How to make an ETH TOKEN transaction ?
  5. The last question is about my ETHERWALLET, how to sign up and how to verify my wallet address ?

 

What is ETHEREUM ?

First of all, ETHEREUM is a cryptocurrency written in GO,C++,Rust and generated by the ETHereum PLATFORM.

It was proppsed by BUTERIN Vitalik in late 2013.

Then it comes live on 30 July 2015 with 72Million of coins. In 2016, as a result of the exploitation of flaw in the the DAO (project’s smart contract software), and subsequent theft of $50million worth of ETHER. Which was split into two seperate blockchains ; the new seperate version became Ethereum ( ETH ) and the original continued as Ethereum Classic ( ETC ).

The value of the ETHEREUM currency is very changable , it’s grew over 13000% in 2017, to over $1400 by December 2018 it had fallen back to $100.

How to make an ETH transaction ?

Before you make a transaction you need to pay attention especially at your first transactions, because if you didn’t maybe you will put wrong destination address or you will have a mistake  on the amount of ETH that you want to send. This mistakes are very common.

There is other thing you should know before you start working by ETH which is all the wallets are the same if you wanna make a transaction, the diffrence is about how much the wallet are safe.

Suppose that you have $1000 in your wallet, and you want to send $100 to your close friend but you don’t know how to do that. No worries we will show you the safest way by the following stages :

First stage, ask your friend to give you his wallet address and copy it, Open your wallet and click on send. After  doing this, a new page has 5 sections or boxes will open with you. One section will show your amount of ETHEREUM and others are empty waiting you to fill in them. So first thing you need to do is to past your friend’s address. ( make sure that you put the correct address ).

Then you have two choices to specify the amount which you will send :

-\ Put the amount in ETHEREUM.

-\ Put the amount in $ DOLLAR.

The last thing is to write a note about this transaction ( optional ) not necessary. Then click on Continue.

 

make sure that your address is correct.

 

 

You will see a new page that requires you to confirm the transaction by a password which you chose at the beginning of creation your wallet or by 2-step verification code provid by SMS to your phone.

What is NEO ?

 

NEO reffered by a lot of people to as Chinese Ethereum. As many crypto projects, NEO also have a great future because of some reasons for being built. NEO is the first B open-source cryptocurrency and blockchain platform at the same time launched in China.  

NEO has two crypto tokens :

#NEO < formely known as Antshares (ANS)>.

#GAS < formely known as Antcoin (ANC)>.

The NEO token acts as the investment token of the NZO blockchain. It has a hard cap total of 100million tokens which will be used in block creation. These 100million tokens were all pre-minde during genisis block creation. Note that NEO is unlike other cryptocurrencies in fact that is not divisible, the smallest unit will always be 1.

The GAS token also has 100million hard cap, but i tacts as the fuel for the NEO blockchain. Unlike the NEO token, GAS id divisible by a factor of 1/10^8, and itw as not pre-mined.

 

How to make an NEO token transaction ?

 

Neo as a most of newest currency or token are not very common or known by people not like BTC for exemple so if you suggest this Neo token to someone, automaticly he will ask about it ; what is this ? how it works ? what’s the price for a token ? how can i use it ? all this questions are normally. In this paragraphe we will try to showw you how to creat a new wallet for Neo token and how to make your first transaction.

So if you wanna start using this token, you need to have your own wallet and for that all what you have to do is visiting the Neo’s official website which is www.neo.org for more infos in the main page of the site you will find all the infos that you need. After that visit this site to creat your wallet www.neotracker.io . now you own your wallet and you want to know how to make your first transaction right !

Stay with me ! i’m going to make it easy for you .

The wallet page look very simple and easy to understand you have nothing to worry about.

It shows to you the send icon and your address below then your amount of Neo/Gas/USD in addition to all the transaction that you will make in future.

As all the wallets if you wanna send some of your tokens to someone you need to have his wallet address also for Neo you need that it’s a rule in this domaine and you need to have the correct address or you will lose your tokens.

 

 

As you saw this is how it looks. Anyways after you fill in the informations to send some of your tokens, you need to confirme the transaction then i can say congratulations you made you first neo transaction.

And if there is any question about this subject we will be happy to answer you.

 

What is bitcoin ?

 

 

BITCOIN or BTC as so many people call it, it’s often credited as the world’s first cryptocurrency which  was created in 2009 by someone unknown using the Alias Satoshi Nakamoto. It doesn’t have a central issuing autharity or political institution that controls the amount of bitcoin. The tranactions of this currency are made with no middle men-meaning ( no banks).

In 2009, the price of BITCOIN started at $0.0025 per bitcoin, after some transactions the price grow up to be $0.30 per Bitcoin in 2011. The market is not stable so sometimes it growing up nad sometimes come down until 17 December 2017 when the Bitcoin price reached an all time high of $19,666. That was the highest price reached by BTC of all the time. The price on 1 Januray 2019 was $3,741 down 72% for 2018 and down 81% since the all-time high.

Today, Bitcoin is the most expensive currency, a lot of people comes rich by trading it. There are thousands of companies and websites that allow you to invest on BTC, in fact this is good things you can do with your money. There is nothing best than invest on cryptocurrency like BTC  and others 😉.

After all what happend in this domain from 2009 to the present, BTC comes an internationnal currency with great value. So if you have an amount of BTC you can buy anything you want from anywhere in this beautiful world. you can shop by it or buy games, you can also book hotles.   

How to make a Bitcoin transaction ?

 

The majority of the transactions on blockchain in the world are bitcoin transactions. This means one thing which is the most popular currency between us is BTC or Bitcoin as you want to call it, evryone use this rich currency for the benifits that the person can get while using it. It makes many things easy like the exchange between the other currencies… .

So all that make the BTC transaction come more easly and clearly you just need to pay attention about the distination and about the amount that’s the important. Anyways you will get the address that will send to it, copy it and open your wallet go to the ‘’ send icon ‘’ click on it and fill in the informations as you will see :

 

 

As  you can see above this is how it looks after you put all the informations, there is the fee and the amount and also the destination address which means if there is any mistake you can click on ‘ go back ‘ and fix it but if everything is right then click on ‘’send bitcoin’’ to confirme the transaction, there will be the last stage where you need to put a keyword which you’ve already put it as a secret password to confirm the transactions from your wallet.

What is ETH token ?

 

ETHEREUM TOKEN has many standards like ERC223, ERC721, ERC777 but the most famous or the most common standard is the ERC20. For this reason in this article we will focus on this common standard which is ERC20.

First of all let us explain what is the meaning of the « ERC », it’s stands for «  ETHEREUM REQUEST FOR COMMENT » and ‘’20’’ stands for the number that was assigned to this request.

November 19/2015 was the beginning date of this technical standardwhich used for contracts on the Ethereum blockchain by FABIAN Vogelsteller.

The developers have the ability to program how new tokens will function within the Ethereum Ecosystem of course with a common list of rules, including gow the tokens are tranferred between addresses and how data within each token is accessed and more rules , no need to talk about all them so if you are intersted to know them all you can find that list on the afficial website. The ERC20 became more famous and popular by crowdfunding companies which work on intial coin offering « ICO » cases with the simplicity of deployment.

 

How to make an ETH token transaction ?

 

There are many wallets support the ETH token, you can chose any wallet you think it’s good for you. We wish that we can suggest a special wallet but we can’t  unfortunetly so you need to look for it by yourself, everyone has the lovely wallte or the lovely style. But we can say that the majority of them are good and safe, and easy to use bacause averyone now using the eth tokens so it comes more easy to work on and more simple.

After you creat your own wallet online or on the wallet application. You need to have some tokens to use them so you can participate in airdrops to get tokens or you can ask your freinds to send you some or maybe you can buy the token that you want. Anyways, to recieve tokens from somewhere or from someone . open your wallet and click on ETH icon then click on recieve and copy your address to share it.

This is way you can copy your address for recieving tokens.

Now supposed that you have tokens and you want to send them to your friends or to some platform. you want to know how to do that ? it’s easy and simple, take the destination address, open your wallet and chose the token that you want to transfer, click on send icon, past that address on recipient address then put the number of tokens and confirme that by clicking on next icon

How to sign up on myEtherWallet and how to verify my wallet address ?

You and only you are responsible for your security, this words from the official website of myEtherWallet. Which means that you need to pay attention about your informations and your keywords because they don’t offer support to recover or reset passwords and private keys. So you have to write them and save them on your computer.

It’s not very complicated or hard to creat you wallet with myEtherWallet as the majority think, in fact there are three ways  to creat a new wallet, which are via MEWconnect, Keystore file or Mnemonic phrase. But everyone will chose the good way for him, here we will show you the second way with ‘Keystore file’. It’s an easy way with easy steps :

First thing go to the official website, www.myetherwallet.com and click on create a new wallet button, after you click on it be sure that a new page will open which offering you to chose between the three ways that we mentioned above. Now you are going to click on ‘by Keystore file’ button then you have to write a strong password with nine letters and click on the ‘next’ button.

At the next stage you have to download Keystore file and put it in a good place on your computer.

That’s it , we are done with creating the new wallet.

Now how you can access to your new wallet and how to work on it ?

For this, you will need the Keystore file that you downloaded earlier. Anyways you need to go back to the main page of the website and click on ‘access my wallet’ button,

Then click on ‘Software’ icon and click on keystore file then continue, select your keystore file from your computer (downloaded earlier ). The final step they will ask you to fill in your password to access your wallet.

As you can see, now you can access you wallet by this steps. You just need to save  your password and keystore file because they are very important for your wallet security.

The main page of your wallet will show you, your address and your balance and many more inforamations.

We hope that we gave you the right answers about your questions, and if there is anything not clear or you need more informations about something please put it on a comment or you can contact us and we will be happy to help.

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