Editor’s Note: The impression of Online casino and How to find it is very complex to the public, other than its fluctuating value, consuming a large amount of energy, and being used by hackers. In real life, it is more often used as a topic of conversation rather than for practical application. However, in Venezuela, which has experienced severe hyperinflation, some people have used Online casino and How to find it to buy real food. The author of this article is a member of the third-generation Online casino and How to find it development team, Banano, who believes that the third-generation Online casino and How to find it can be applied in daily transactions. This article is a compilation of the article ‘Why Third Generation Cryptocurrencies Are Game-Changers for Venezuela’ from hackernoon.

　　The recent consumer technology progress is characterized by both advantages and disadvantages: smartphones allow us to contact others at any time and place, which is very useful when needed, but also become a huge source of interference, affecting learning, doing homework, and even crossing the street. Studies have shown that if children are sending calls or text messages while crossing the street, the likelihood of being hit by a car is greatly increased. Moreover, while the internet connects the global community, overcoming geographical barriers and achieving real-time communication, it also exposes a massive amount of personal information to the open, threatening personal privacy. It is evident that the progress of new technology is not smooth sailing.

　　Online casino and How to find it is no exception. Especially the decentralized nature of most Online casino and How to find it further determines its dual nature. It is almost impossible to describe what Online casino and How to find it is in a single sentence. You can roughly define it as ‘a secure way for people to transfer value without the need to establish trust.’ The purpose of this article is to show what benefits these non-existent currencies can bring to the economies of emerging countries, especially the third generation Online casino and How to find it.

　　Every currency has two sides

　　Although Online casino and How to find it is not a new thing anymore, even in the late 2017 when the Online casino and How to find it industry was booming, many people were still unaware of its existence. The industry started in 2009, with the creation of Bitcoin. There are now more than 1500 types of Online casino and How to find it on the market, which can solve various problems in real life. Due to widespread abuse, many people associate Online casino and How to find it with excessive energy consumption and money laundering as soon as they hear the term. This group considers Bitcoin and other alternative currencies as a means of exchange among hackers, as a property held by hackers to avoid legal sanctions.

　　A ransom page after hackers seize user information.

　　Indeed, we cannot deny that Online casino and How to find it has opened a door of opportunity for illegal behavior, but, Online casino and How to find it has also brought innovative solutions that were not available in the past. With Online casino and How to find it, we can save and transfer money efficiently, without the supervision of official institutions such as banks or the government. This will be a lifesaver for the masses suffering from hyperinflation.entrance lottery entrance and The most fun game

　　Generations of Online casino and How to find it – a brief introduction

　　The first-generation Online casino and How to find it was created with the original intention of storing and transferring value. They used blockchain as a data structure, with a simple architecture, which hindered scaling. As a result, with the emergence of transactions, there were high transaction fees, longer confirmation times, and smaller transaction throughput (measured by the number of transactions per second, TPS). Therefore, the first-generation Online casino and How to find it cannot be used as electronic currency. Typical first-generation Online casino and How to find it includes Bitcoin, Litecoin, Monero, and Bitcoin Cash.

　　The second-generation Online casino and How to find it is mainly in the form of platforms, specifically developed for decentralized applications. The focus of the second generation is not on transactions, but on using Turing-complete programming languages, which provide new programming logic. Simply put, the second generation makes it possible for applications written in ideal logic. This logic can be used through smart contracts. The language used in the contracts is generally a more advanced language, which is compiled into bytecode on a virtual machine after writing and uploaded to the blockchain network.

　　However, most of the second-generation Online casino and How to find it also use blockchain architecture and face the issue of scaling. Typical second-generation Online casino and How to find it includes Ethereum, Neo, QTUM, and Lisk.

　　Why do blockchains have issues such as high fees, long confirmation times, and low transaction throughput?

　　Every time a transaction is generated, the transaction information is sent to the pending transaction pool for confirmation. A group of these transactions is then stored in a block by miners. Each miner is competing with each other to generate a new block. The miner who generates a new block receives a reward, and then all miners start competing to generate the next block.

　　Storing a certain amount of transactions in blocks, the volume of transactions per second is also limited. Taking Bitcoin as an example, the maximum transaction processing speed is about 3.3 to 7 transactions per second, compared to VISA’s ability to process 2000 transactions per second.

　　Another factor to consider is the cost issue of miners, which are incentives for miners to confirm transactions. This creates confirmation time and transaction costs.

　　Different electronic currencies have different systems, so the time required for transactions to occur varies. Taking Bitcoin as an example, it takes an average of ten minutes to generate a block. If the transaction amount is large, one confirmation is not enough, and it requires six confirmations to finally confirm the transaction. Therefore, sometimes it may take even an hour.

　　Where is the problem?

　　High costs, long confirmation times, and low transaction throughput are all obstacles to the popular acceptance of Online casino and How to find it, and they cannot be recognized as currency by the general public.

　　Just like when you’re at the checkout of a supermarket and see a long queue, you don’t want to buy. If it takes a long time to confirm a transaction, people naturally find it麻烦. Moreover, the transaction fee for each payment, for some people may not be much, but for others, the cost of the transaction alone may be their monthly income, and they can’t help but take it to heart.

　　Third generation Online casino and How to find it

　　When it comes to the impact of blockchain scaling, it is natural to think of solutions. What the next generation Online casino and How to find it aims to solve is exactly this kind of problem. The official definition of the third generation Online casino and How to find it has not yet taken shape, but there are several methods and technologies that try to solve the proposed problems of blockchain, and none of them have gained an upper hand.

　　Some of these new market entrants use DAG (Directed Acyclic Graph) as the main data structure. The mechanism of blockchain used to store transaction data is in the order of transaction occurrence, while DAG uses a different asynchronous method. Because DAG does not require synchronization, real-time transactions become possiblelottery cheats and The latest strategy. Each transaction is treated as a separate block, greatly reducing the confirmation time.

　　A directed acyclic graph refers to a directed graph without loops. If there is a non-directed acyclic graph, and A point can go from B to C and return to A, forming a loop. If the direction of the edge from C to A is changed to A to C, it becomes a directed acyclic graph. The number of spanning trees of a directed acyclic graph is equal to the product of the in-degrees of non-zero nodes.

　　This process can overcome the limitations brought by the PoW (Proof of Work) consensus mechanism for the system, and the whole process no longer needs miners. There is no need to incentivize miners to confirm transactions, and therefore no transaction costs. Without them, the system can still run safely. The third generation Online casino and How to find it using DAG (Directed Acyclic Graph), typical examples include Byteball Bytes, Iota, and NANO.

　　What’s wrong with Venezuela’s economy?

　　The current economic situation of Venezuela is very曲折and intriguing, especially a lot has happened in the past ten years. In 2001, Venezuela was the wealthiest country in South America. This is because they possessed the largest oil reserves in the world at that time. The government of Venezuela was established on the principles of democracy, so it was admired by many other countries around the world. However, after nearly 20 years, the democratic system and economic development of Venezuela are in a mess, with the inflation rate ranking first in the world. The citizens of the country can’t even buy basic necessities of life, and can’t get food and medicine.

　　Inflation rate exceeds 40,000%

　　On June 28, 2018, the annual inflation rate of Venezuela actually broke through 40,000%, rising to 400 times that of a year ago, and there are no signs of slowing down. Some economists say that as long as Venezuela does not change the government, the economy will continue to deteriorate in this way.

　　The actual value of the Venezuelan currency Bolivar (strong Bolivar, BSF) has plummeted. The current annual inflation rate exceeds 40,000%. In comparison, the inflation rate in the United States is 2.4%. The minimum monthly wage standard in Venezuela is 5,196,000 Bolivar, which is equivalent to 1.73 US dollars per month, working 8 hours a day, 30 days a month! (1USD=3,003,000BSF)

　　The strong Bolivar of Venezuela is the new currency issued by Venezuela starting from January 1, 2008. The word ‘fuerte’ means ‘strong’ and replaces the original currency name Bolivar. Due to inflation, the exchange rate between Bolivar and strong Bolivar is 1,000 to 1.

　　The financial system is tightly controlled by the government. Although the Central Bank of Venezuela is formally an independent organization, it is actually controlled by the government. All market policies, development, and reforms need to be allowed by the national elite class before they can be put into practice. Therefore, many innovations in the financial industry (or any other industry) are aborted before they are even born. In addition, with the increasing daily obstacles for the people, even with strict supervision, the existing economic system is difficult to maintain stability.

　　The collapse of the oil price index has brought a series of new problems, pushing the national debt of Venezuela to a new level. According to World Bank data, Venezuela’s national debt has increased from 25 billion US dollars to 35 billion US dollars. From the perspective of the people, this means that taxes are increased, prices rise, but wages do not rise. There is little difference in the services provided by different competitors in the banking industry, and the service fees are high for the purchasing power of the Venezuelan people.

　　Solution: NANO, an instant online casino and How to find it without transaction fees

　　The logo of NANO

　　NANO is the third-generation online casino and How to find it, using DAG that is self-developed, known as the block framework. The block framework provides each user with their own blockchain, also known as the account chain. This scheme can eliminate transaction costs while achieving nearly instant transaction services, with a much higher transaction throughput. That is to say, I can stand at the South Pole and transfer 10NANO to my friend who is in the North Pole, and he can receive my 10NANO transfer within 3 seconds, not 9.9999NANO, because there is no transaction fee.

　　The visualization of the transaction framework. Each transfer has a sending block (S) and a receiving block (R), and each block is confirmed by the account chain users (A, B, C).

　　What does this have to do with Venezuela?

　　Recently, Hector, who lives in Venezuela, shared his own experience.

　　On Reddit, a user posted a thank-you thread because another Reddit user donated 0.5 NANO coins (one US dollar) to him. Hector admitted that this was more than he earned in a month. The thread quickly went viral, and more and more people started to donate money to him. Not long after, he posted another thread titled ‘NANO Coin Users in Venezuela: I bought 102 kilograms of food today!’

　　I am overjoyed. Because today, I finally convinced the seller to accept payment in NANO coins for the food. He sold me 102 kilograms of food, including corn flour, meat, rice, sugar, beans, sauce, and avocado. It’s fantastic, and I am trying to buy food to distribute to other people in need. This morning, someone came to my doorstep asking for food, and I gave them a lot. Her face was full of joy! Thank you to everyone who donated to us, and these foods will be distributed to a dozen families tonight.

　　Hector said that he used 29 NANO coins (80 US dollars) to buy 102 kilograms of food, which was the most food he had ever bought.

　　On July 12, 2018, Hector posted the third thread, titled ‘Venezuela accepts NANO. I bought 300 kilograms of food to distribute today’.

　　Three days ago, I exchanged 61 NANO coins for 300 kilograms of food, and this time it was another merchant. Forty families will benefit. Several recipients who received our packaged food were so moved that they couldn’t help but shed tears.

　　In total, we have invested 90.1 NANO coins (which is equivalent to 30 US dollars), and in return, we have obtained 402 kilograms of food.

　　Hector also uploaded photos.

　　Not long after, a project called ‘Sponsorship Family’ was launched. The goal of the project is to donate money to Venezuelans using NANO coins.

　　Hector’s story illustrates how Online casino and How to find it can help Venezuelans. However, he is not the first person to receive help through this platform with a shorter waiting time. There are also many similar stories on another third-generation Online casino and How to find it platform. Leading the donation assistance is an unimposing Online casino and How to find it.

　　Banano banana coins: seemingly unserious game currency, but it can really buy food.

　　Banano logo

　　”Banano” banana coins are the first official branch product of NANO, developed specifically for free, almost instant transactions. Initially, banana coins referred to a group within NANO that was just for fun, although the intention was not to seriously do Online casino and How to find it, the group still put a lot of effort and time into it.

　　The goal of banana coins is not to replace Bitcoin and become the dominant electronic cash. The existence of banana coins is to prove to everyone that while it requires a bit of technology, the barriers to Online casino and How to find it are actually very small. Banana coins are issued through several different media.

　　The reason why banana coins can change the current situation in Venezuela is that they are still in the issuance stage, unlike Nano coins. Currently, the total amount of banana coins is 3,402,853,699 units, and less than 10% have been issued. Therefore, it is not difficult for new users to obtain banana coins.

　　On June 10, 2018, banana coins were ‘airdropped’ for the first time (issued to holders of specific currencies). There will be similar airdrops in the future. Banana coins also have another channel of issuance, through ‘tips robots’. Active users on Reddit, especially those on Discord servers, can easily obtain banana coins.

　　However, the main channel for the issuance of banana coins is still a 3D game. Banana coins are the first virtual currency in history to be issued through a game, named ‘Banano Runner’. Users control monkeys to catch bananas while avoiding obstacles. After the game is over, users will receive the corresponding real banana coins.

　　Banano Runner game

　　No doubt, by controlling virtual monkeys in the game and catching virtual bananas, you can earn real banana coins in Online casino and How to find it.

　　Can ‘game currency’ really help Venezuela?

　　Since April 1st of this year, banana coins have seen a significant increase in daily user numbers on Discord, with many coming from Venezuelans. Currently, each banana coin is worth 0.0022 US dollars, equivalent to 7,000 bolivars. That is to say, 786 banana coins are the minimum monthly salary in Venezuela.

　　To elaborate, the first ‘airdrop’ gave each user an average of 20,000 banana coins, which is already the lowest monthly salary for a full-time job in Venezuela for 25 months. Just playing Banano games, you can earn 1,200 banana coins per hour. If you are a Venezuelan, playing for an hour is enough to earn the minimum monthly salary.

　　On May 25th of this year, a user from Venezuela named Mayrapina received 1,000 Banana coins, and the donor requested that she record the process of buying food.

　　So she uploaded photos and lists of the food she bought.

　　2kg of root vegetables, 1kg of tomatoes, 1kg of onions, 3kg of bananas, 1kg of papaya, 1kg of rice, 1kg of corn flour, 1kg of fish, 1kg of sugar, 1kg of meat, 2kg of grains, 1 packet of biscuits, 1 packet of oatmeal, 1 pound of butter, 1 bottle of ketchup, 1 bottle of rice porridge, 2 bars of soap

　　With 10,000 Banano, I can buy goods worth 15,000,000 BsF. You can’t believe how many people came to visit my house, family and friends. I told them what Banano is, as well as the banano project, and they were very interested. But they were even more interested in games.

　　Mayrapina also took a video to show the process of buying things with Banano.

　　However, this happened on May 25th. At that time, the inflation rate in Venezuela reached 25,000%. As Banano continues to appreciate and the Bolivar continues to depreciate, Mayrapina can buy more goods with the same amount.

　　From the above examples, it can be seen that purchasing goods and services through electronic currency transfers and usage is completely feasible, and it is beneficial for both the people and merchants in these poverty-stricken areas.

　　Summary

　　Using Online casino and How to find it to solve the problems mentioned earlier (hyperinflation) is not a new thing. In Venezuela, many merchants accept Bitcoin cash payments. However, if you are facing such extreme hyperinflation and poverty issues, the problems of transaction fees and immediacy must be resolved. Nano coin and Banana coin are two potential Online casino and How to find it that can help Venezuela and other countries in similar situations, such as Argentina.

　　To overcome the existing barriers to use, people need a new generation of Online casino and How to find it. If in the future you have friends discussing how Bitcoin mining consumes too much energy, you can tell them that the new generation of Online casino and How to find it does not require mining and is a more environmentally friendly choice. The third generation Online casino and How to find it has a bright future and may help millions of people around the world improve their lives.

　　Compiled by the editorial team. Editor: Hao Pengcheng