Quick Explanation Of Stish CryptoCurrency
Crypto Isn’t Always An Easy Thing To Explain. But This Graphic Helps Explain Stish In As Few Words As Possible.
If you are trying to wrap your head around the whole cryptocurrency revolution you are not alone. It is complex and sophisticated but you can learn enough about it to buy and sell cryptocurrency. Once you get the basic fundamentals of most digital currencies you will be in great company. Bitcoin was the founder really of the modern day cryptocurrency. Ethereum is a sophisticated cryptocurrency that allows people to build on top of it. This utilization for software and currencies has propelled it to 2nd in command behind Bitcoin in a very short amount of time.
All distributed ledgers have some commonalities. One of which is the immutability do to the hash consensus. If this is all a foreign language to you have no fear. SteemThat.com is here to help you transition and become a crypto guru in no time. Another similarity between crypot currency is most try to be somewhat anonymous though laws in most countries do require at some point along the chain basic customer data gathering to help prevent terrorism and illegal activities. So some of the basic ways blockchains are created when their function it digital currency based are often very similar to each other. Each block has identification of the next block of data and they are chained together so that if one block is ever altered the chain knows it and essentially discards the block that is invalid. It is much more complicated than this but this is the just of it.
With advanced cryptography and genius ways to create passwords generally called public and private keys cryptocurrency is certainly a secure way to have digital assets that are extremely difficult to steal or hack or trace for that matter. If you are worried about government meltdowns, wars, stupid economic policies or other things completely out of your control it might be wise to look into crypto currency.
For many years people would always keep a little gold or silver sitting somewhere in their home or buried just in case. Many people bought jewelry and precious gem stones for this reason. Many of these same smart people get involved in crypto currency on some level. With everything there is risks and rewards. With digital currencies it is no different. Some are extremely volatile and much money is to be made and lost often without rhyme or reason. Before putting any money into crypto do your homework. If it takes months to get all of the concepts it takes months and you are better off understanding crypto intrinsically before getting involved. Of course I’m not a financial expert or offering financial advice just some commonsense reminders.
Now Let’s Learn Quickly About Stish:
During your read I hope you found some useful information about crypto and Stish. Stish is an ERC-20 Digital Asset Token Built On The Ethereum BlockChain. Stish is used in part to tokenize the rewards pools which helps manage velocity and minimally supply. As people make purchases on SteemThat.com and other portals in the future with Stish we put much of those Stish back into the rewards pool for works to be created and the cycle to be repeated.
Initially to not flat-line the currency right out of the gate we have stated in our white paper that we will not allow more than 5% total circulation to come from work rewards from the initials circulation. Once the markets are made and payments are being made in Stish we certainly don’t want to hoard a bunch of Stish. Though we can help reduce supply as needed by not flooding the market with sell orders we prefer to grow the platform with high quality content and active participation and reward members for their efforts and keep the currency moving. Over time rewards will become smaller and smaller to help manage velocity but still encourage participation.
What we all probably grasp the easiest is that when there is a demand and the supply is shrinking there are 2 outcomes. Either the price increase generally or supply has to increase. Stish was built with a fixed capped amount of 10,100,000 created. The only way to expand this is by majority vote and a hardfork or redistribution of a new token to existing Stish holders. This is possible and doable but a consensus of members would need to be made and development planned and tested for months. We can cross that bridge when we get there. Basic supply and demand principles help motivate the markets.
SteemThat.com accepts payment for access to services and will also potentially require Stish payments for membership in the future. Other offering are being considered and developed to help encourage the utility of the token. Often payment will be accepted in USD or Stish for goods and services to help peg the currency to the USD. Stish is only as good as the community that is being built around it and we appreciate everyone’s hard work.