Project Title: A Proposal to Increase the Liquidity of Cryptocurrency
BASIS Advisor: Mr. McCorkle
Internship Location: Ecofund
Onsite Mentor: Mr. Tapa Biswas
For my project, I aim to create a cryptocurrency plan that keeps the security associated with blockchain technology but make cryptocurrency more fungible and usable among the general public. Through my internship at Ecofund, I will research how to balance the fungibility and security of a cryptocurrency, which is a prominent challenge in its creation. This is mainly because the system does not require a central authority as its state is maintained through distributed consensus. Also, the system allows transactions to be performed in which ownership of the cryptographic units change. A transaction statement can only be issued by an entity proving the current ownership of these units. The new perspective I will bring is a model that could make a cryptocurrency useful for a teenage consumer, which would be of use to others in this field and the general public. I hope to send this model to other passive income management firms and consumers once the project is complete.
This week, I did a practice run of my presentation with my advisor. Doing so helped me reconsider what points needed simplifying and what points needed elaboration. I’ve also added some finishing touches to my paper, and after going over both of them several times, I feel pretty prepared.
I spent most of this working on my presentation and paper. I also met with my Mr.Biswas to verify that the information I am adding about Qcoin is correct.
This week I did a rough evaluation of Bitcoin, Ethereum, and Energi. I mainly analyzed their change in value over time and how well they served their intended purpose to their customers and investors. I plan to do this for several other smaller cryptocurrencies as well but this might be harder since many of them […]
This week I was in traveling so I mainly read some more reports that I am planning to incorporate into my paper. I also learned more about asymmetric cryptography and how hash collision can occur in the blockchain. This week, I am going to write about the different purposes cryptocurrency can serve and how that […]
This week I learned more about Qcoin from my advisor and about its applications. In my final paper, I am planning to use Qcoin as a case study highlighting the process and challenges of creating a cryptocurrency. This week, I have also outlined my research paper and will spend the next couple of weeks doing […]
This week I learned more about Aksel structure, which Mr.Biswas is planning to use for one of the cryptocurrencies that he is developing called Qcoin. Aksel basically sets up a mini-economy in Qcoins can be made, used, and traded. The purpose of holding on Qcoins would be to gain voting rights to invest in startups. […]
This week has been pretty short. I spent the first half of this week looking through and verifying some of the numbers in Ecofund’s Xero account and recalculate EBITDA. During the second half of the week, I started reading the whitepaper of AKSEL Structure, which I will go into more detail next week once I […]
This week I started learning about masternodes. This is the first concept that I have encountered on my senior project that I was completely unfamiliar with. Now I have a basic idea of how masternodes work, but I still need to learn more before I can consider myself familiar with them. To do this […]
Bitcoin was created by the pseudonym Satoshi Makomoto in 2008. The technology behind Bitcoin is Blockchain. Many cryptocurrencies work on a peer to peer network, so it is a decentralized system. As with a centralized network, digital currencies need to have the security of data and its users need to have trust in the legitimacy […]
Hi all, While last week I learned about limit orders, this week I started learning about the basics of the blockchain. The core of my project is analyzing the security of cryptocurrency data as well as the ease and versatility of the types of transactions it can be used for. Therefore, it was imperative that […]
This week I have been learning about limit orders and limit order books. Using a limit order allows traders to set a maximum buying price and a minimum selling price for a trade. They can be beneficial when buying stock but may be detrimental when selling stock. Traders usually place a limit order under the […]
For my project, I am analyzing the process of creating a cryptocurrency, and hopefully, determine what is an ideal balance between the ease of its transactions and the security of its data. I plan to do that through shadowing my external advisor, who works at Ecofund, who is tackling this exact problem. I will also […]