I am reposting my previous week homework that has not bee curated yet, and it got above 5 marking as well.
Hello wonderful people, how are you today? I hope you're having a fantastic week. I'm ecstatic to be a part of this unforgettable lecture. In this article, I'll share my experience with Bitcoin's trajectory. instructed by @imagen
# How many times has Bitcoin been halved? When is the next expected? What is the current amount that Bitcoin miners receive? Mention at least 2 cryptocurrencies that are or have halved.
### What is Bitcoin Halving?
The most latest halving of Bitcoin took place on May 11, 2020. To understand what a Bitcoin halving implies, it's necessary to first understand the how Bitcoin network works. The blockchain that underpins Bitcoin is essentially a set of devices (or nodes) that operate Bitcoin's program and store a full or part record of transactions recorded on its system. Every full node, or node with the whole history of Bitcoin transactions, is in charge of accepting or declining transfers in the Bitcoin network. The node accomplishes this by performing a number of inspections to confirm that the operation is legitimate.
### How many times has Bitcoin been halved?
When a total of 10,500,000 BTC had already been mine, the first bitcoin halving took place on November 28, 2012.
Before: 50 BTC per block New BTC per block
After that, new BTC each block will be 25 BTC
On halving day, the price is $12.35.
On July 9, 2016, a new BTC per block was introduced, replacing the previous 25 BTC per block.
After that, the new BTC per block will be 12.5 BTC
On halving day, the price was $650.63.
The most recent occurred on May 11, 2020.
Before: 12.5 BTC each block
After then, the new BTC per block is 6.25 BTC.
On halving day, the price was $8821.42.
### What is the current amount that Bitcoin miners receive?
If a miner properly adds transactions to the chain, they will be rewarded with 6.25 bitcoins. Every 4 years, or every 210,000 blocks, the award value is decreased by 1/2. Bitcoin was trading to about $48,000 in August 2021, trying to make 6.25 bitcoins valued at approximately $300,000.
However, bitcoin's price has been extremely fluctuating, making it tough or unattainable for miners to predict how much their payout will be exactly when they get it.
### 2 cryptocurrencies that are or have halved.
### Zcash.
[source](https://www.google.com/url?sa=i&url=https%3A%2F%2Fbitzecbzc.github.io%2Fpress%2Findex.html&psig=AOvVaw318EMctXE7Rt2tsGXcYGLi&ust=1633610777647000&source=images&cd=vfe&ved=0CAsQjRxqFwoTCPjngMPotfMCFQAAAAAdAAAAABAJ)
Zcash Halving is the event where the number of Zcash Block Reward Subsidy per block will be halved (divided by 2).
The total number of ZEC mined by miners per block will reduce from 6.25 ZEC to 3.125 ZEC in the next halving at block 1,046,400.
Other than the decrease in Block Reward Subsidy, the next Zcash halving will also see the reduction on the Zcash Founder's Reward.
### Ethereum.
[source](https://www.google.com/url?sa=i&url=https%3A%2F%2Fen.cryptonomist.ch%2F2020%2F04%2F30%2Fhalving-of-ethereum%2F&psig=AOvVaw2-TyAJ2MbPIPzxiAxGYyZp&ust=1633611074547000&source=images&cd=vfe&ved=0CAsQjRxqFwoTCPii5NDptfMCFQAAAAAdAAAAABAD)
Ethereum will be subjected to three halving occurrences. Ethereum is undergoing a triple halving of some sort, most probably in early 2022, but while need on those specific days may change, the ethereum triple halving has its origins in production decrease.
Ethereum supporters are holding off on trade until the London hard fork is released, which is expected to be postponed. EIP 1559 is the most noteworthy Ethereum Improvement Proposal (EIP) in the update. This, when paired with the switch to Proof-of-Stake (PoS), is referred to as a "Triple Halving."
# What are consensus mechanisms? How do Proof-of-Work and Proof-of-Staking differ? Question 2
Both methods are based on agreement It's important to note that not all blockchain technologies follow the same standards. Because they are secure and trustworthy when verifying, the Proof of Work (PoW) and Proof of Staking protocols are by far the most prominent and commonly used protocols.
Bitcoin was the first to employ proof of work as a crypto confirmation method. The concepts of proof of work and mine are connected. The network demands a large amount of computation, which is why it's termed "proof of work." Proof-of-work blockchains, on the other hand, are protected and validated by virtual miners all over the globe, but proof-of-stake blockchains are not. Staking in a proof of stake method is identical to mining in a proof of work method in that it is the method whereby a system user is chosen to add the most current iteration of events to the blockchain in return for some coin.
One significant distinction between the two consensual methods is energy usage. Proof-of-stake blockchains enable systems to function with significantly less power usage since miners do not need to spend power on redundant operations (able to compete to solve the same problem).
Both compromise techniques have financial ramifications that penalize system interruptions and deter malevolent actors. The penalties for miners that provide incorrect information, or block, in proof of work is the bad investment of computing power, money, and effort. The regulative rules' committed crypto money act as a financial reason to behave in the network's greatest advantage in proof of stake. If a verifier approves a faulty block, they will have a percentage of their staked funds "reduced" as a consequence.
# Enter the Bitcoin explorer and enter the hash corresponding to the last transaction. Show Screenshot Question 3
We go to the [https://www.blockchain.com/](https://www.blockchain.com/) and we click on the explorer tab as shown in the picture below
- After that, we will see the latest transactions and block in the explorer tab which you can see as well.
- from there let's say we select a random transaction you can see details of the transaction in the images below.
This transaction was the first broadcast to the Bitcoin network on October 06, 2021, at 7:39 PM GMT+5. The transaction is currently unconfirmed by the network. At the time of this transaction, 0.01480148 BTC was sent with a value of $803.10. The current value of this transaction is now $802.66.
# What is meant by Altcoin Season? Are we currently in Altcoin Season? When was the last Altcoin Season? Mention and show 2 charts of Altcoins followed by their growth in the most recent Season. Give reasons for your answer.
### Altcoin Season.
Altcoin season (abbreviated as "alt season") is a period in the crypto market when other currencies surpass the market leader, Bitcoin. Alternative currencies, often known as altcoins, are a type of currency that isn't Bitcoin.
As a result, alt-season refers to any time in the marketplace when most altcoins make more money than Bitcoin.
The Bitcoin dominance ratio may indicate drops less than it was before the beginning of last season this time.
### Are we currently in Altcoin Season?
At the time of posting, Bitcoin's dominance has dropped from 69.1 percent in late December 2020 to 44 percent in October 2021, indicating that it is altseason.
Many cryptocurrencies, notably Ether (ETH), Binance Coin (BNB), Cardano (ADA), Solana (SOL), Uniswap (UNI), and Compound (COMP), have seen rises of hundreds of percent over this time period. Dogecoin (DOGE) has increased by almost 6000 percent, and several cryptocurrencies modeled after the meme-cryptocurrency have enjoyed similar gains.
These high returns also imply that the period has continued a long time, with no one knowing when the marketplace would turn around.
### When was the last Altcoin Season?
The last duration an altcoin season occurred was in March of this year 2021, and it remained just three months, indicating that notwithstanding Bitcoin's downturn, neither coin was always capable of overtaking it, so now bitcoin is going up, altcoin season is finished.
### Mention and show 2 charts of Altcoins followed by their growth in the most recent Season. Give reasons for your answer.
For this, I'll present you the chart below, which was taken from coinmarketcap.com and shows the green line representing the price in USD and the yellow line representing the price in Bitcoin for the last three months.
### 1. AXS
The live Axie Infinity price today is $127.75 USD with a 24-hour trading volume of $2,245,251,866 USD. We update our AXS to USD price in real-time. Axie Infinity is down 1.52% in the last 24 hours. The current CoinMarketCap ranking is #25, with a live market cap of $7,781,202,626 USD. It has a circulating supply of 60,907,500 AXS coins and a max. supply of 270,000,000 AXS coins.
[coinmarketcap](https://coinmarketcap.com/currencies/axie-infinity/)
### 2. XRP
The live XRP price today is $1.09 USD with a 24-hour trading volume of $3,851,028,692 USD. We update our XRP to USD price in real-time. XRP is up 2.60% in the last 24 hours. The current CoinMarketCap ranking is #6, with a live market cap of $50,973,942,967 USD. It has a circulating supply of 46,750,439,262 XRP coins and a max. supply of 100,000,000,000 XRP coins.
[source](https://coinmarketcap.com/currencies/xrp/)
# Make a purchase from your verified account of the exchange of your choice of at least 15 USD in a currency that is not in the top 25 of Coinmarket (SBD, tron or steem are not allowed). Why did you choose this coin? What is the goal or purpose behind this project? Who are its founders / developers? Indicate the currency's ATH and its current price. Reason for your answers. Show Screenshots
### purchases from your verified account.
I purchased a Coti coin from my verified Binance account.
### Why did I choose this coin?
- COTI is the world's first conciliation platform, designed to protect users from mistakes, theft, and opposing exploitation.
- The user and vendor solutions provided by COTI are smooth and simple to use.
- COTI's technique provides trades, peer-to-peer transactions, and transfers to be completed in seconds rather than hours or days.
- COTI is developing stable prices technology, which is required for widespread blockchain payment acceptance.
### All-Time High COTI and current prices
# Conclusion.
Bitcoin was created with the intention of being useful. To help with this, several recommendations have been created. Only a limited number of bitcoins (21 million) will ever be created, and economic growth will be tightly regulated by halting the spread of bitcoins through the halving method.
As the cryptocurrency growth continues, the idea of "alt season" will certainly stay. What is certain, at least for the time being, is that Bitcoin will always account for a substantial portion of the cryptocurrency world and that there would be “alt-seasons” for all those who how to utilize it.
#imagen-s4week5 #cryptoacademy #blockchain #crypto