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The Impact of Cryptocurrencies on the Global Economy
Blockchain technology is only now beginning to be widely used as a tool in international trade. Yet given the benefits this technology provides, it is obvious that widespread adoption is really a question of time.
What are Cryptocurrencies?
Bitcoin was the first implementation of the cryptocurrency concept, conceived by Satoshi Nakamoto, whose objective was to form a reliable electronic transaction system, without the mediation of third parties to make this process reliable, that is, without the presence of banks.
The idea was based on the Blockchain system, through which the transactions carried out are registered and do not present the need for a bank to validate or protect the data of those involved.
The adoption of Bitcoin certainly generates an empowerment of the individual in front of these institutions. It is very hard for a government to stop the blockchain from operating since it is a decentralised system with all the software on each computer in the network. The blockchain can function as long as there are two computers connected to the Internet worldwide.
Cryptocurrencies in Developing Countries
In the end, the blockchain development company of cryptocurrencies made it simpler for currencies to enter and exit nations with tighter capital controls, such as Cyprus and Russia, especially during financial crises.
Banks are unable to place limitations on your freedom of movement. Thus, they become facilitators for holding dollars or other currencies with greater stability compared to the local currency of the country, since developing countries tend to have currencies with a higher degree of volatility. In addition, virtual money encourages innovation in the financial market, opening up various possibilities for developing countries.
Cryptocurrencies in Developed Countries
Developed nations with lax capital restrictions have a more ambivalent position towards virtual currencies, monitoring the industry's growth and examining its implications.
Governments with a more rigid financial system are moving towards regulating cryptocurrencies, however, the acceptance of virtual money undermines measures that can affect the exchanges that take place.
Central Bank of Brazil and IMF
In 2017, the Central Bank of Brazil (BCB) published a note stating that although virtual currencies are the subject of international debate, it does not identify the need for regulation or risk for the National Financial System. However, the BCB follows the evolution of these currencies and the international discussions on the subject, in case it adopts any control measure in the future.
Foreign Trade
In Brazil, since August 2019, it is mandatory to provide information to the Federal Revenue Service on purchase and sale operations involving virtual currencies (cryptocurrencies or cryptoactives). The rules for this accountability are defined in Regulatory Instruction RFB 1,888/2019. Each transaction's details must be documented each month.
Global adherence to blockchain as a tool in foreign trade is still incipient; however, the number of organizations that adhere to it is consolidated daily. It is obvious from the benefits provided by this technology that widespread adherence is only a matter of time. We list a few below:
- Significantly reducing the consumption of paper;
- A decrease in document control rework by all parties involved;
- Errors caused by information reprocessing are reduced;
- Less reliance on intermediate intermediaries in financial transactions;
- Swiftness in global payment systems.
All these benefits point to the solution to the two main logistics bottlenecks in foreign trade operations: time and money.
Foreign trade is being revolutionised by blockchain development, and individuals who operate in this field soon will have to adapt to this new reality.
Citi Bank predicts that in a few years, Bitcoin will likely have a substantial impact on world trade. Because to features like global reach, agility, and neutrality, virtual money has the potential to replace physical cash as the standard for international trade.
Citi traces the development of the currency from its beginnings as a medium of exchange to its current status as a store of value in its study. The bank does note that there are obstacles to be solved, including those related to scalability, capital efficiency, and insurance.
International Opportunities
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Kickstart your Reliable Cryptocurrency Exchange Business in 2020!
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Best Cryptocurrency Development Company | Cryptocurrency Software Solutions
Shamlatech is the Best Cryptocurrency Development Company with customized solutions for you.
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Python Global Variables – How to Define a Global Variable Example
In this article, you will learn the basics of global variables.
To begin with, you will learn how to declare variables in Python and what the term 'variable scope' actually means.
Then, you will learn the differences between local and global variables and understand how to define global variables and how to use the global keyword.
What Are Variables in Python and How Do You Create Them? An Introduction for Beginners
You can think of variables as storage containers.
They are storage containers for holding data, information, and values that you would like to save in the computer's memory. You can then reference or even manipulate them at some point throughout the life of the program.
A variable has a symbolic name, and you can think of that name as the label on the storage container that acts as its identifier.
The variable name will be a reference and pointer to the data stored inside it. So, there is no need to remember the details of your data and information – you only need to reference the variable name that holds that data and information.
When giving a variable a name, make sure that it is descriptive of the data it holds. Variable names need to be clear and easily understandable both for your future self and the other developers you may be working with.
Now, let's see how to actually create a variable in Python.
When declaring variables in Python, you don't need to specify their data type.
For example, in the C programming language, you have to mention explicitly the type of data the variable will hold.
So, if you wanted to store your age which is an integer, or int type, this is what you would have to do in C:
#include <stdio.h>
int main(void)
{
int age = 28;
// 'int' is the data type
// 'age' is the name
// 'age' is capable of holding integer values
// positive/negative whole numbers or 0
// '=' is the assignment operator
// '28' is the value
}
However, this is how you would write the above in Python:
age = 28
#'age' is the variable name, or identifier
# '=' is the assignment operator
#'28' is the value assigned to the variable, so '28' is the value of 'age'
The variable name is always on the left-hand side, and the value you want to assign goes on the right-hand side after the assignment operator.
Keep in mind that you can change the values of variables throughout the life of a program:
my_age = 28
print(f"My age in 2022 is {my_age}.")
my_age = 29
print(f"My age in 2023 will be {my_age}.")
#output
#My age in 2022 is 28.
#My age in 2023 will be 29.
You keep the same variable name, my_age, but only change the value from 28 to 29.
What Does Variable Scope in Python Mean?
Variable scope refers to the parts and boundaries of a Python program where a variable is available, accessible, and visible.
There are four types of scope for Python variables, which are also known as the LEGB rule:
- Local,
- Enclosing,
- Global,
- Built-in.
For the rest of this article, you will focus on learning about creating variables with global scope, and you will understand the difference between the local and global variable scopes.
How to Create Variables With Local Scope in Python
Variables defined inside a function's body have local scope, which means they are accessible only within that particular function. In other words, they are 'local' to that function.
You can only access a local variable by calling the function.
def learn_to_code():
#create local variable
coding_website = "freeCodeCamp"
print(f"The best place to learn to code is with {coding_website}!")
#call function
learn_to_code()
#output
#The best place to learn to code is with freeCodeCamp!
Look at what happens when I try to access that variable with a local scope from outside the function's body:
def learn_to_code():
#create local variable
coding_website = "freeCodeCamp"
print(f"The best place to learn to code is with {coding_website}!")
#try to print local variable 'coding_website' from outside the function
print(coding_website)
#output
#NameError: name 'coding_website' is not defined
It raises a NameError because it is not 'visible' in the rest of the program. It is only 'visible' within the function where it was defined.
How to Create Variables With Global Scope in Python
When you define a variable outside a function, like at the top of the file, it has a global scope and it is known as a global variable.
A global variable is accessed from anywhere in the program.
You can use it inside a function's body, as well as access it from outside a function:
#create a global variable
coding_website = "freeCodeCamp"
def learn_to_code():
#access the variable 'coding_website' inside the function
print(f"The best place to learn to code is with {coding_website}!")
#call the function
learn_to_code()
#access the variable 'coding_website' from outside the function
print(coding_website)
#output
#The best place to learn to code is with freeCodeCamp!
#freeCodeCamp
What happens when there is a global and local variable, and they both have the same name?
#global variable
city = "Athens"
def travel_plans():
#local variable with the same name as the global variable
city = "London"
print(f"I want to visit {city} next year!")
#call function - this will output the value of local variable
travel_plans()
#reference global variable - this will output the value of global variable
print(f"I want to visit {city} next year!")
#output
#I want to visit London next year!
#I want to visit Athens next year!
In the example above, maybe you were not expecting that specific output.
Maybe you thought that the value of city would change when I assigned it a different value inside the function.
Maybe you expected that when I referenced the global variable with the line print(f" I want to visit {city} next year!"), the output would be #I want to visit London next year! instead of #I want to visit Athens next year!.
However, when the function was called, it printed the value of the local variable.
Then, when I referenced the global variable outside the function, the value assigned to the global variable was printed.
They didn't interfere with one another.
That said, using the same variable name for global and local variables is not considered a best practice. Make sure that your variables don't have the same name, as you may get some confusing results when you run your program.
How to Use the global Keyword in Python
What if you have a global variable but want to change its value inside a function?
Look at what happens when I try to do that:
#global variable
city = "Athens"
def travel_plans():
#First, this is like when I tried to access the global variable defined outside the function.
# This works fine on its own, as you saw earlier on.
print(f"I want to visit {city} next year!")
#However, when I then try to re-assign a different value to the global variable 'city' from inside the function,
#after trying to print it,
#it will throw an error
city = "London"
print(f"I want to visit {city} next year!")
#call function
travel_plans()
#output
#UnboundLocalError: local variable 'city' referenced before assignment
By default Python thinks you want to use a local variable inside a function.
So, when I first try to print the value of the variable and then re-assign a value to the variable I am trying to access, Python gets confused.
The way to change the value of a global variable inside a function is by using the global keyword:
#global variable
city = "Athens"
#print value of global variable
print(f"I want to visit {city} next year!")
def travel_plans():
global city
#print initial value of global variable
print(f"I want to visit {city} next year!")
#assign a different value to global variable from within function
city = "London"
#print new value
print(f"I want to visit {city} next year!")
#call function
travel_plans()
#print value of global variable
print(f"I want to visit {city} next year!")
Use the global keyword before referencing it in the function, as you will get the following error: SyntaxError: name 'city' is used prior to global declaration.
Earlier, you saw that you couldn't access variables created inside functions since they have local scope.
The global keyword changes the visibility of variables declared inside functions.
def learn_to_code():
global coding_website
coding_website = "freeCodeCamp"
print(f"The best place to learn to code is with {coding_website}!")
#call function
learn_to_code()
#access variable from within the function
print(coding_website)
#output
#The best place to learn to code is with freeCodeCamp!
#freeCodeCamp
Conclusion
And there you have it! You now know the basics of global variables in Python and can tell the differences between local and global variables.
I hope you found this article useful.
You'll start from the basics and learn in an interactive and beginner-friendly way. You'll also build five projects at the end to put into practice and help reinforce what you've learned.
Thanks for reading and happy coding!
Source: https://www.freecodecamp.org/news/python-global-variables-examples/
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Cryptocurrency Exchange Essentials
It is learnt that a **Cryptocurrency exchange **or DCE short for digital currency exchange is a popular service/platform that enables clients to trade cryptocurrencies for other resources, such as other cryptocurrencies, standard FIAT cash or other digital currencies.
Primarily they allow trading one cryptocurrency for another, the buying and selling of coins, and exchanging FIAT into crypto. There are different crypto exchanges may have different options and features. Generally some are made for traders and others for fast cryptocurrency exchanges.
Do you want to know how do exchanges set their prices?
Mostly there is a common misconception is that exchanges set prices. However, this is not true. There’s no official, global price. The exchange rate of a cryptocurrency generally depends on the actions of sellers and buyers, although other factors can affect the price. Moreover the prices vary depending on the activity of buying and selling on each of these exchanges.
In addition each exchange calculates the price based on its trading volume, as well as the supply and demand of its users. This means that the higher the exchange, the more market-relevant prices you get. Actually there is no stable or fair price for Bitcoin or any other coin - the market always sets it.
Do you know how crypto exchanges make money?
Amazingly the exchanges make profit from different revenue streams, most popular four are: commissions, listing fees, market making, and fund collection for IEOs, STOs and ICOs.
Popular Commission - trading fees
The most familiar way to monetize exchanges cryptocurrency and traditional exchanges is to charge commissions in the market. Actually this commission pays for the trade facilitation service between the buyer and the seller. The commissions can be as low as 0,1% per transaction and due to low trading cost bring in high trading volume.
Quality Listing Fees
Due to heavy competition, the newly created exchanges struggle with low volume during their early stages and therefore need another source of revenue. Also many exchanges opt for token and coin listing services to drive revenues. By organizing Initial Exchange Offerings (IEOs), Security Token Offerings (STOs), and Initial Coin Offerings (ICOs), exchanges might professionally collect a percentage of funds raised from these offerings.
Which is the best Cryptocurrency exchange software development company?
Without any doubt the **Hashogen Technologies **is a popular motivated cryptocurrency exchange software development company with a team of skilful resources. Their key motto of us is to offer technology-driven services at an affordable cost without compromising the quality. One can also witness quality Bitcoin Exchange Script, Cryptocurrency Exchange script and Cryptocurrency exchange software from Hashogen Technologies.
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How To Overcome The Challenges Involved In Cryptocurrency Exchange Development?
Creating their own cryptocurrency exchange has become a common phenomenon among entrepreneurs in the cryptosphere in recent years. Cryptocurrency exchanges are the main driving force behind the crypto market volume growth over the past decade, and they have provided lucrative opportunities for many entrepreneurs around the world. Many entrepreneurs have become millionaires by launching their own cryptocurrency exchange, which is why the demand and competition around crypto exchanges have drastically increased in the last few years.
Even though starting your own cryptocurrency exchange is lucrative, there are also many challenges involved in the cryptocurrency exchange development process. Especially in this intensely competitive scenario, every aspect of your cryptocurrency exchange development plays a crucial role in determining the success and visibility of your exchange over your competitors. To ensure long-term sustainability and success for your exchange, it is essential that you identify the pain points involved with crypto exchange development, and learn how to convert the odds into your favor. So, let’s go ahead and take a look at some of the significant challenges involved in developing an exchange from scratch, and solutions that will help to overcome them.
Read More @ https://bit.ly/3vpK64S
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