crypto
Basics, crypto, Cryptocurrency, Getting Started, Global Markets, How to use MarketXLS, Using MarketXLS

CryptoCurrency Features in MarketXLS

We have been striving hard to make MarketXLS the best investor research tool for you, and your suggestions have been guiding our developments. We are pleased to announce that MarketXLS now includes Cryptocurrency data.

cryptocurrency
stats related to crypto

Now, you may ask, what’s different between MarketXLS data and the rest, so here is why – We have a better methodology of pulling in Crypto data in your Excel.

With MarketXLS, you can use the name of the exchange at the end of the symbol to get the data from that specific exchange.

For example – use BTCUSD:BINANCE to get data from the Binance exchange and ETHUSD: BITMEX to get data from the BitMEX exchange.

However, sometimes, you might find that a crypto token is not listed on an exchange.

So,we have developed our own methodology and symbology for exchanges, which we call “DEFAULT.”

For example –
You can use BTCUSD: DEFAULT to get the default data.

Then, our system will automatically determine where that token is listed and return the most appropriate price and analytics.

You can download a list of all cryptos available straight to your excel by going to “Utilities” and “Utilities List” in the dropdown menu.
Next, choose “Crypto Currencies,” which will open the whole list of cryptos with their exchanges.

crypto features in marketxls

Here is what you can do with Crypto data now being available:
1) Get Intraday prices in your excel using =Last() function, =Ask(), =Bid() functions –

Crypto

Just go to an excel cell and type =Ask(“ETHUSD:DEFAULT”).
Similarly, you can also try other functions such as last and bid to get the desired output.

2) Get historical data points on specific days in the past using =close historicals.

crypto

 

3) Get 20 Technical indicators using technical functions like = SMA, =EMA, etc.

crypto

 

4) Get Other analytical results like Drawdown and Stock Return functions.

crypto

 

5) Use mxls_db_query functions to get Min, Max, High and Low from a range of data series.

crypto

 

6) Get Volume averages.

crypto

 

And a lot more.

To find which functions work with cryptos, click on search and help and search for Crypto. All the functions you will see should be available for crypto symbols.
We have thoroughly changed all the data and analytics, and we believe it may be one of the most comprehensive datasets available in any Excel solution in the market.
Note : Cryptos are not streaming data right now.

Check out our informative knowledge base for a step-by-step guide to MarketXLS.

You can use cryptos on numerous functions such as
=close_historical(), =stockreturnfifteendays(), =custombetaoneyear() and many more.

Our team has also performed minor optimizations to run MarketXLS smoothly.

Email us at support@marketxls.com with any of your concerns or issues that you face.

 

Read More
bitcoin etheruem
Basics, crypto, Cryptocurrency, Informative

Solana – The Ethereum Killer?

In the last article, we discussed the basic working of 2 of the most famous cryptocurrencies – bitcoin and ethereum.

Bitcoin works on proof of work and ethereum uses proof of stake to verify its transactions.

We discussed the limitations of the proof of work process in the last article itself.

Well, even the proof of stake isn’t immune to criticism. Even though proof of stake is faster than proof of work, it is still not as fast in order for it to disrupt the financial transactions of the world.

Etheruem still takes about 5 mins to validate each transaction, which is a hindrance for faster exchange of currency.

The transaction fees of ethereum are not as cheap. They range around $15 per transaction and hence it isn’t a viable mode of currency exchange for medium and small amounts.

Also, ethereum processes only about 15 transactions per second, which might be an improvement over bitcoin, but it is still very low for modern times.

The Blockchain Trilemma

Blockchain Trillema

Blockchains are often forced to make trade-offs that prevent them from achieving all 3 aspects:

  1. Decentralized: creating a blockchain system that isn’t centrally controlled.
  1. Scalable: the ability of a blockchain system to handle and grow larger amounts of transactions.
  1. Secure: the ability of the blockchain system to operate as expected, defend itself from attacks, bugs, and other unforeseen issues

As you can see most cryptocurrencies have failed to conquer the blockchain trilemma. And hence we haven’t yet seen a global adoption of cryptocurrencies.

Enter Solana –

Well don’t lose hope, Solana is one such cryptocurrency that claims to have broken the blockchain trilemma. It is fast, secure, decentralized, and scalable. Breaking all boundaries. Well, how does it manage to do this you may ask?

Solana innovated using a process called proof of history.

We are aware of the cons of proof of work and proof of stake, well proof of history aims to eliminate those. 

In this process, the blockchain captures and sends information and a determined time interval continuously while the transaction is taking place. This enables a faster exchange of information as the verification doesn’t need to wait for confirmation by all the nodes in the server. The information has a timestamp attached to it, which helps in tracking the activity and also enables security.

Solana Ethereum Bitcoin

Through proof of history, Solana can achieve the numbers other currencies can’t. That’s the reason why many dApps and other service platforms are making the switch to Solana. Solana also has an ethereum bridge that enables seamless transfer of code from the ethereum blockchain to the Solana blockchain. Since Solana can validate a large number of transactions, the cost per transaction is lesser too, making it viable for small and medium value transfers.

Solana blockchain has its own currency called the sol token which can be traded on the crypto exchanges. 

Bottom Line

Due to all these features, experts predict Solana will have a big market share in the future and is a better alternative to ethereum. Of course, this doesn’t mean that ethereum will cease to exist.

Ethereum being the superior network — with 7,000 nodes and 90,000 validators, compared with Solana’s 600 nodes and 1,000 validators.

Solana is said to be an “Ethereum killer.” 

Solana’s architecture allows it to keep pace, with Moore’s law. This means that as computers become faster over time, so will Solana. Essentially, Solana is future-proofing itself through its scaling capabilities.

If this proves to be the case, will Solana beat ethereum?

Disclaimer

All trademarks referenced are the property of their respective owners. Other trademarks and trade names may be used in this document to refer to either the entity claiming the marks and names or their products. MarketXLS disclaims any proprietary interest in trademarks and trade names other than its own, or affiliation with the trademark owners.
None of the content published on marketxls.com constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. The author is not offering any professional advice of any kind. The reader should consult a professional financial advisor to determine their suitability for any strategies discussed herein. The article is written for helping users collect the required information from various sources deemed to be an authority in their content. The trademarks if any are the property of their owners and no representations are made.

References –

https://cointelegraph.com/news/cointelegraph-research-is-solana-an-ethereum-killer

GSloaY” target=”_blank” rel=”noreferrer noopener”>https://www.youtube.com/watch?v=_ivdpGSloaY

Read More
bitcoin etheruem
crypto, Cryptocurrency

Bitcoin vs Ethereum – Which Is Better?

Everyone knows about Bitcoin and Ethereum, the two most mainstream cryptocurrencies.

But recently Bitcoin was in the news for all the wrong reasons.

  1. Its impact on the environment
  2. Chinese ban on crypto
  3. How it could potentially be influenced by famous people

Let’s understand how Bitcoin works

Bitcoin is a virtual currency based on blockchain technology. It is essentially decentralized and secure, making it a cryptocurrency. The blockchain involves a universal public ledger, where a number of users come together to store and to validate the transactions as a whole so that one single person can forge or influence a transaction. This is the feature that makes bitcoin secure and decentralized. The process of validating such transactions is called mining. Mining is the process by which validators are rewarded with new bitcoins for their work.

So who decides who gets to mine Bitcoin?

bitcoin vs ethereum

The miner is decided via a process called proof of work. In proof of work, all the miners solve a cryptographic puzzle, and the first one to solve this puzzle gets the reward. Since this puzzle depends on computational power, computers with high configurations are at an advantage. This has led to people building mining farms or a mining pool where people come together and pool their computational power in order to get the mining reward and earn bitcoin.

It is estimated that bitcoin miners use as much electricity as it takes to power 5 million US households!

Well, this system of proof of work has 2 major disadvantages-

  1. All the miners who don’t win the reward to utilize a major amount of electricity, which achieves nothing. This has a serious climate impact and activists around the world are worried about the increase in usage of bitcoin.
  1. Since proof of work requires large computational power, miners are coming together to form mine pools so they can be rewarded. This can result in bitcoin becoming centralized and controlled by the few who have adequate computational power.

Proof of stake

By now, it’s clear that letting everyone compete for mining bitcoin is wasteful and inefficient.

This problem was solved by a process called proof of stake. Proof of stake chooses the computers required to validate the transaction using a random selection. The person who gets selected is called a validator. A validator is mostly similar to a miner in proof of work systems. In order to increase security, validators are not chosen completely randomly. To participate in the selection process, a node (user) has to deposit a certain amount of the underlying currency into the system, known as a stake. This is to ensure that in case there is any illegal attempt, the amount can act as a penalty. The higher the amount you deposit, the higher the chances of you being selected to validate a transaction.

Since the amount of computational effort required in proof of stake is less, more people can participate, making the currency even more decentralized. Plus, there is no wastage of electricity.

Proof of stake is definitely better than proof of work, but it too has some cons. 

If a mining group takes control of the majority of transactions in a system by investing a lot of money, they can effectively validate false transactions. This is known as the 51% problem. 

However, since a person or a group will have to take control of 51% of the hash power(collective computing power), it is highly unlikely to happen since it would require a huge pile of cash, precisely 

$79 billion.

Ethereum

ethereum

Ethereum is a currency that works on the proof of stake algorithm and it is doing fairly well.

While bitcoin is solely a currency, ethereum takes it one step further. Ethereum is actually a platform and ether is the currency used on that platform. It’s broader than bitcoin and the proof of stake algorithm also allows ethereum to be faster than bitcoin while processing and validating the transactions.

Since ethereum is a system rather than just a currency, ethereum has a wide set of functions. It can be used to make smart contracts or run decentralized apps called dApps. All these functions are run using ether and hence they are more comprehensive and secure than normal apps on the app store.

Bottom Line-

Well now that we understand how proof of work and proof of stake work we realize that both of them have their own separate functions and their disadvantages. Ethereum may be one step ahead of bitcoin due to the introduction of a blockchain-based system rather than just a currency, it too has its setbacks that have been overcome by newer currencies. 

Solana is one such currency that has conquered the blockchain trilemma. What is the blockchain trilemma you may ask? We will elaborate on that further in part 2 of this article. 

Stay tuned!

Disclaimer-

All trademarks referenced are the property of their respective owners. Other trademarks and trade names may be used in this document to refer to either the entity claiming the marks and names or their products. MarketXLS disclaims any proprietary interest in trademarks and trade names other than its own, or affiliation with the trademark owners.
None of the content published on marketxls.com constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. The author is not offering any professional advice of any kind. The reader should consult a professional financial advisor to determine their suitability for any strategies discussed herein. The article is written for helping users collect the required information from various sources deemed to be an authority in their content. The trademarks if any are the property of their owners and no representations are made.

References-

https://techcrunch.com/2021/05/14/solana-a-blockchain-platform-followed-by-top-crypto-investors-says-its-a-lot-faster-than-ethereum/

https://www.makeuseof.com/what-is-solana-crypto-and-what-is-it-good-for/

GSloaY”>https://www.youtube.com/watch?v=_ivdpGSloaY

Read More
smart contracts
Basics, crypto, Cryptocurrency, Data, Informative, Others

Smart Contracts – A Basic Guide

Smart contracts are self-executing contracts. They don’t require a third neutral party to oversee the contract. The terms and conditions of the contract are coded into a program that executes the conditions whenever they are met. They are simply programs that run when the conditions are met and are stored in a blockchain. The blockchain functionality helps to make these contracts secure and almost impossible to tamper with. Smart contracts were developed by Nick Szabo in 1994. Szabo defined smart contracts as “ computerized transaction protocols that execute the terms of a contract.”

How Do They Work?

They work via simple if/then statements coded inside a program. The terms of the contract get executed once the conditions are fulfilled. These statements are coded onto a blockchain. It could be used to release funds agreed between 2 parties, invest in a stock at a specific price, invest in a startup only once it releases its product, automatically charge fines once a person violates a rule, and so on and so forth. The blockchain is then updated, and the transaction is generated, which means now no one can tamper with the transaction.

A Digital Vending Machine

smart contracts

A vending machine is perhaps the best metaphor for smart contracts, as per Nick Szabo. With the right inputs, the right output is generated.

E.g. – Money + Snack selection = Snack 

This is the logic programmed into a vending machine.

Just like the way a vending machine removes the need for a vendor, smart contracts too can remove the need for intermediaries in many industries.

Advantages

  1. Speed And Accuracy – once the conditions are met the contract gets executed and saves time for both parties. Also, since they are digital and automated, there is no paperwork to process.
  1. Trust and Transparency – since there is no third party involved it’s almost impossible to tamper with the contract. Plus, due to the presence of blockchain, it’s impossible for one party to tamper with the terms since they are uploaded on a public ledger.
  1. Security and Savings – Blockchain enables maximum security that can’t be compromised. On the other hand, due to an absence of a third neutral party, both the contractor and contractee save up on additional fees paid.

Disadvantages

  1. Difficult To Edit – A smart contract program is almost impossible to change, moreover fixing an error in the code can be a tedious process.
  1. Problem With Vague Terms – often a contract contains terms that are vague in nature or may be difficult to write into code. Hence, it might not be feasible to use smart contracts for such terms and conditions.
  1. Need For The Third Party – even though you might not need a lawyer to draft the contract, the programmers might want to consult a lawyer regarding the terms and conditions. Hence, the third party still exists one way or the other.

Future Of Smart Contracts

Smart contracts are arguably an example of Amara’s Law – articulated by Roy Amara that humans tend to overestimate technology in the short run and underestimate the power of technology in the long run.Although smart contracts need to evolve before they are completely ubiquitous, they still possess a huge potential to revolutionize the way contracts will be made and maintained in the future. The true revolution of smart contracts will come in a way we can’t even imagine yet. Isn’t that exciting?

The Bottom Line

Smart contracts are still in a nascent stage as of now and can only be used to perform a bunch of basic functions. Ethereum is a big contributor to the facilitation and the popularisation of smart contracts. As discussed above, the potential for smart contracts is unprecedented and will revolutionize our life. Since they are connected to blockchain, experts also suggest a rosy future for cryptocurrency involvement in such contracts. Hence smart contracts shouldn’t be criticized or shunned despite their limited use as their true power is yet to be realized.

Disclaimer

All trademarks referenced are the property of their respective owners. Other trademarks and trade names may be used in this document to refer to either the entity claiming the marks and names or their products. MarketXLS disclaims any proprietary interest in trademarks and trade names other than its own, or affiliation with the trademark owners.
None of the content published on marketxls.com constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. The author is not offering any professional advice of any kind. The reader should consult a professional financial advisor to determine their suitability for any strategies discussed herein. The article is written for helping users collect the required information from various sources deemed to be an authority in their content. The trademarks if any are the property of their owners and no representations are made.

References

https://corporatefinanceinstitute.com/resources/knowledge/deals/smart-contracts/

https://www.ibm.com/in-en/topics/smart-contracts

https://www.investopedia.com/terms/s/smart-contracts.asp

https://www.youtube.com/watch?v=ZE2HxTmxfrI

https://ethereum.org/en/developers/docs/smart-contracts/

https://content.enkronos.com/what-is-a-smart-contract-advantages-and-disadvantages/

https://corpgov.law.harvard.edu/2018/05/26/an-introduction-to-smart-contracts-and-their-potential-and-inherent-limitations/

Read More