Lär dig på ett vänligt sätt
friendly way

Since Bitcoin was launched in 2009 there has been an ongoing wave of alternative cryptocurrencies entering the crypto market created to build on what the original cryptocurrency (and blockchain technology) can do. While Litecoin and Ethereum differ vastly in their design, one similarity is that they were both created to improve on so-called weaknesses in the Bitcoin network.

In this piece, we’re taking a look at both Litecoin and Ethereum individually, covering everything from concept to market integration, as we explore Litecoin vs Ethereum.

The Litecoin network

Litecoin is a digital currency created from a hard fork off of the Bitcoin blockchain. The cryptocurrency was designed to be a "lighter" version of the original cryptocurrency (hence the name) and to provide a more efficient peer-to-peer digital cash. Litecoin (LTC) is the native coin to the network. 

With similar coding, the Litecoin team made several changes to their blockchain to ensure that it was faster and more cost-effective. It was never designed to overtake Bitcoin, merely to offer an alternative and complement the Bitcoin network.

Created in 2011, Litecoin was launched by a former Google engineer and MIT graduate, Charlie Lee. Lee, alongside a team of developers, increased the block size as well as its total supply. Litecoin has a max supply of 84 million coins. 

Transaction per second

Today, the Litecoin network can process 56 transactions per second compared to Bitcoin which can do 7 transactions per second (outweighing Ethereum which can currently do 30 transactions per second, expected to increase greatly with the launch of ETH 2.0).

Transaction fees

Litecoin also trumps both cryptocurrencies when it comes to lower transaction fees, charging a minute fee that is not subject to fluctuations. Most cryptocurrencies' transaction fees fluctuate due to demand on the network, increasing the fees when the network is busy.

Block size

The network also reduced the block time, meaning the amount of time it takes to validate a transaction. Litecoin transactions take 2.5 minutes on average, whereas Bitcoin transactions take 10 minutes. In conclusion, a Litecoin transaction can be processed at a lower cost, four times faster, and with 3% of the energy consumption.

Mining Process

While Litecoin makes use of the same Proof of Work mining consensus as Bitcoin, it uses another hashing algorithm known as Scrypt that requires specifically designed mining software and hardware. This is the same setup as Dogecoin, allowing miners to mine both cryptocurrencies simultaneously. 

The Ethereum blockchain

Ethereum is a decentralized platform that allows developers to create their own decentralized applications (dapps) and smart contracts. Ethereum is well-known for its neutrality and immutability features, contributing to its effectiveness as a platform for developers to launch new projects. On the blockchain platform, it uses Ether (ETH) as its native cryptocurrency.

Ethereum was created to leverage the open-source nature of Bitcoin and bring greater innovation to the cryptocurrency industry. Providing a platform on which developers can create new blockchain projects has led to a large number of new cryptocurrencies and the inclusion of many industries far beyond the finance sector. 

Transaction fees

Ethereum uses ETH to fuel all operations on the network, requiring users to pay what are known as "gas fees" to facilitate any Ethereum transactions. These gas fees are designed to compensate miners for the computational power required.

These fees fluctuate when the network is congested, often leading to exorbitant prices for users wishing to implement smart contracts or send funds across the network.

Smart contracts

Smart contracts are digital agreements that automatically execute once certain criteria are met. When the smart contract is created, the agreement and criteria are written into its code, and once the criteria are met, that contract will automatically execute.  

Total supply

Due to the nature of the Ethereum blockchain providing a platform on which users can build and develop, the cryptocurrency does not have a limited supply of tokens. With no cap, the network can continue creating tokens as required and developers can continue using the platform to execute operations and build apps. 

Ethereum does have a limit on the total number of new coins that can enter circulation each year. Its supply growth model ensures that no more than 18 million coins can be released per annum.

Mining process

Currently, the Ethereum network uses a Proof of Work mining consensus, however, it is in the process of moving to a Proof of Stake consensus, expected to launch at the end of this year. The new version will use the same cryptocurrency (ETH) but adopt a more sustainable method of validating transactions and creating new coins. 

Which is better: Litecoin vs Ethereum

While Litecoin provides a peer-to-peer form of digital cash, Ethereum offers more than just a coin, it provides a platform. When it comes to functionality, Ethereum takes the cake.

However, when it comes to executing fast and cheap transactions, and in terms of scarcity with its limited supply, Litecoin provides a better blockchain technology alternative.

When it comes to Litecoin vs Ethereum and which cryptocurrency is better, one must first observe their intentions. Are you looking to build dapps or for a quick and cheap means of sending funds across the globe?

Both networks have avid supporters and great teams behind them, so when deciding which cryptocurrency to buy in consider your own goals and how these two networks align with them, or seek investment advice from a professional that can help you with making an advised decision.

We are delighted to announce the listing and support of Quant (QNT) on Tap!

QNT is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold QNT for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting QNT will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

The Quant Network was designed to connect blockchains and networks on a global scale, prioritising interoperability and trust functions between them using the Overledger operating system, the first OS built for blockchains. The Quant protocol was designed to remove barriers commonly encountered on blockchains in communication, interoperability and scaling.

QNT is an ERC-20 token from the Quant blockchain that provides digital access to a particular application or service and is used to access the Overledger network and validate transactions on the network.

All product users, developers, and gateway operators are required to purchase annual licences, used to maintain platform efficiency. These licence fees are converted to QNT and locked up in the Quant treasury. If a user does not renew their licence, they forfeit their fees, discouraging them from dumping tokens on the market if the price increases.

Get to know more about Quant  (QNT) in our dedicated article here.

It's no secret that discussing finances is often considered taboo. Oftentimes, people quickly become uncomfortable when the topic is brought up. But why is talking about money so awkward for most people?

It's because most people are still afraid to discuss about savings openly for a wide variety of reasons from shame, embarrassment, or simply fear of their financial privacy.

However, there are many reasons why saving (and actively building a savings account) is important, and we think that today is a great opportunity to break the stigma around discussing savings openly. Here's what you need to know about starting to save, several ways to save money, and how Tap can help you in your saving quest.

The stats on talking about money

Discussing finances can be an uncomfortable subject for many people, as revealed by a recent survey. In fact, the survey found that over half of respondents, 56%, consider talking about money a taboo topic. Debt emerged as the most controversial financial topic, with 45% of those surveyed expressing discomfort discussing it.

The survey also highlighted that people are more likely to open up about their finances if others do the same. This means that breaking the taboo around money talk can have a positive impact on our financial well-being. By being more transparent about our saving methods, we can help others learn and achieve their own financial goals.

Below are a few ways to get you started with how to save money more efficiently.

How to get started: start saving money

It's never too late to start your savings journey. Whether you're starting your first job, looking to make a down payment on a house, or you're already retired, setting aside money for savings is an important step in building your wealth. Here are a few simple steps to take and ways to save money.

Establish your savings goals

In order to get started, first calculate how much money you need to save each month to reach your financial goals. This will help you determine how much money you need to set aside each paycheck.

Create a budget

The first step is always the most difficult, but it's important to be honest with yourself about your current situation. Review your finances on a regular basis and consider how much you would like to save as well as what that savings goal entails. Build this savings plan to be realistic, making a savings plan you're never going to stick to is only a waste of your time.

If your monthly bills exceed your income, it might be time to make a budget. Look at what you spend on grocery shopping, auto insurance, energy costs or online shopping and see if your monthly budget has room for some cuts. While homeowners insurance and utility bills can't be neglected, consider if there are cheaper alternatives in your area for the things you can afford to cut on - you never know where you might be able to save some extra dollars.

In doing so you are already taking the first step toward your quest to save money.

See where you can cut spending and save money

Take a closer look at your spending habits. Where are you wasting money? Are you eating out too often? Do you have a lot of expensive subscriptions? Once you identify your problem areas, you can start making changes to better save money.

For example, if you're spending too much on eating out or buying lunch, try cooking at home more often. If you have a lot of subscriptions, see if there are any you can live without and consider canceling an expensive subscription service. There are plenty of ways to save money and build wealth, get creative!

Set up a savings account

Next, you can open a savings account and make sure to deposit money into it regularly. This account should be a separate savings account from your checking account so that you're not tempted to spend the money.

You can opt for a saving account programme which allows you to put money in an account that generates extra cash for you, paid out monthly or yearly. The key in this process is to make sure the money is going into savings before you have a chance to spend it.

Also consider putting unexpected income in these accounts, like a tax refund.

Review and adjust

Finally, in your efforts to save money make sure to review your budget regularly and adjust your savings goals as necessary. By following these simple steps, you can start saving money and building your wealth today.

Don't forget to give yourself some breathing room. It's important to have money set aside in an emergency fund, but that doesn't mean you should never spend any of your savings. Indulge in some of your favorite things every once in a while and appreciate all that you've worked for!

Consider paying off credit card debt and building an emergency fund as equally important to building your savings account. If you're making use of passive income generation you could use these earned funds to pay off one of the two. Savings accounts might sound scary but the truth is they're simple, important, and integral to save money.

Here are some of the best saving tips that we think everyone should know:

• Don't wait to start saving money. The more time you give yourself to spend it the greater the temptation will be. Transferring a fixed percentage of your income into savings accounts as soon as you receive it is an excellent way to make sure you're putting some money away as soon as you get paid.  
• If you're always frugal with your money, you'll only be frustrated and won't achieve your savings goals. From time to time, remember to give yourself a little treat!

Closing thoughts

Saving money is something that everyone has to do, and it can be made easier by doing it with others. No matter your situation, there are probably other people around you who know exactly how you feel and with whom you could share advice that could help you both save money more efficiently.

Open that savings account today and start building a better financial future. Whether you cut your monthly bills to make a down payment or save money for your emergency fund or dream vacation, putting money aside for your future is always a good idea.

‍

We are delighted to announce the listing and support of Sandbox (SAND) on Tap!

SAND is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold SAND for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting SAND will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

The Sandbox is a pioneer in the movement to incorporate blockchain technology into the gaming sector. Created in 2011, The Sandbox is an play-to-earn game that allows users to be both creators and players, with the ability to monetize their in-game assets and earn SAND tokens.

Powered by the SAND token, the Sandbox’s native token serves as the foundation for all transactions and interactions. SAND tokens can be obtained by playing games, selling digital assets on the Sandbox Marketplace, participating in competitions, or buying it through a reliable exchange.

Get to know more about The sandbox (SAND) in our dedicated article here.

The Sandbox is a pioneer in the movement to incorporate blockchain technology into the gaming sector. Created in 2011, The Sandbox is an play-to-earn game that allows users to be both creators and players, with the ability to monetize their in-game assets and earn SAND tokens.

Powered by the SAND token, the Sandbox’s native token serves as the foundation for all transactions and interactions. SAND tokens can be obtained by playing games, selling digital assets on the Sandbox Marketplace, participating in competitions, or buying it through a reliable exchange. 

What is the Sandbox platform?

The Sandbox is an Ethereum-based play-to-earn gaming ecosystem and metaverse that allows players to create, share, and monetize in-world assets and gaming experiences. The platform combines the powers of decentralized autonomous organizations (DAO), DeFi and non-fungible tokens (NFTs).

The Sandbox metaverse offers players a space to interact with one another and the games they have created.

The Sandbox is made up of three main components: 

1. VoxEdit, which allows users to create and animate 3D objects in the metaverse (i.e. animals, people, tools, etc). These are known as ASSETS and utilize the ERC-1155 token standard which allows both fungible and non-fungible (NFTs) to be minted at the same time. 
2. The Sandbox Game Maker, where users can create 3D games for free.
3. The Sandbox Marketplace, where users can sell their ASSETS for SAND tokens. 

Who created The Sandbox?

Initially developed as a mobile gaming platform by Pixowl in 2011, The Sandbox was intended to be a competitor to Minecraft. It quickly grew very popular and soon had more than 40 million downloads worldwide. However, in 2018, the co-founders Arthur Madrid and Sebastien Borget decided to explore the potential of creating a 3D metaverse on the blockchain.

The new and improved platform allows users to truly own their creations, in the form of NFTs, and earn rewards while participating in the ecosystem. The Sandbox team introduced the new Sandbox project in 2020 and it became one of the fastest-growing games in the cryptocurrency world, alongside Axie Infinity and Decentraland. 

The following year the platform raised $93 million and attracted over 50 reputable partnerships, including CryptoKitties, Snoop Dogg and The Walking Dead. 

How does The Sandbox work?

The Sandbox is a dynamic virtual world filled with user-generated content. Players can create and develop their own NFTs, including avatars, virtual goods, and even games, using the platform's VoxEdit and Game Maker. They can also interact with other players as well as monetize these NFTs by selling them on the Sandbox Marketplace, fueled by the SAND token.

The Sandbox's VoxEdit

VoxEdit offers artists and players user-friendly software to create, rig, and animate NFTs. The NFTs are in voxel format, square 3D pixels that look like lego blocks, which can quickly be edited to create different shapes. Users can design and create everything from animals and game tools to avatar-oriented weapons and clothing to any goods that you can use in The Sandbox. 

All these virtual goods can then be exported and traded as NFTs on the Sandbox Marketplace for SAND token.

The Sandbox's Game Maker

The Game Maker is designed to allow users to test their 3D game creations within the metaverse. With no prior coding experience needed, the program allows users to design and organize various objects and elements in a space called LAND (including the VoxEdit NFTs).

The Game Maker allows users to curate quests, place buildings, and characters, edit terrains, etc. Users can then share their designs with the greater community or sell them on the Sandbox Marketplace.

The Sandbox Marketplace

The Sandbox ecosystem has its very own NFT marketplace was launched in April 2021 and creates a space where users can trade ASSETS (in-game assets) with the native token, the SAND token.

The ASSETS (NFTs) can be anything from wearables to buildings to entities, and can then be used within the platform in the Sandbox game and incorporated into LAND to create unique games using the Game Maker. The Sandbox's marketplace is accessible to all users on the platform.

What are SAND tokens?

Sandbox, referred to as SAND, is an ERC-20 token with a supply of 3 billion. The token functions as a utility token, governance token, and can be used for staking.

SAND as a utility token facilitates all interactions and transactions within the Sandbox ecosystem. In order to take part in the activities available on the platform, from playing the games to buying LAND, trading ASSETS or customizing avatars, users will need to own SAND. The LAND tokens are ERC-721 tokens while ASSETS are user-generated NFTs.

The native token also functions as a governance token within the Sandbox ecosystem, allowing SAND token holders to vote on changes made on the platform through the Sandbox DAO (Decentralized Autonomous Organization) structure. 

Lastly, the token can be staked on the platform, allowing holders to earn rewards and a share in the revenue from all SAND transactions. Staking offers the bonus advantage of allowing users to increase their chances of finding valuable game resources designed to boost ASSETS' rarity, known as GEMs and CATALYSTs. These are valuable when looking to create assets and play games.

There are two ways to acquire SAND: either through playing games and contests in The Sandbox, or by purchasing it on a cryptocurrency platform like Tap.

How can I buy the SAND token?

For those looking to incorporate The Sandbox into their crypto portfolios, or simply enter the metaverse gaming sector, we have great news. The Tap app has recently added SAND to the list of supported currencies, allowing anyone with a Tap account to easily and conveniently access The Sandbox market. 

Users can buy SAND by using balances in either their crypto or fiat wallets or with your debit card, you can also buy the cryptocurrency with traditional payment options like bank transfers. Through the integrated wallets on the platform, users can also store and manage their SAND holdings easily and conveniently. 

If you know anything about the NFT craze in the cryptosphere, you’ve likely heard of the wildly successful Bored Ape Yacht Club (BAYC). Expanding on this concept is the ApeCoin ecosystem, a cryptocurrency positioning itself at the forefront of Web3. ApeCoin is controlled by the ApeCoin DAO, a decentralized autonomous organization of which all APE holders can become a part.

What is the ApeCoin ecosystem?

ApeCoin is an ERC-20 utility and governance token used within the APE ecosystem. The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs. 

Enjoying viral success and arguably one of the most successful NFT collections to date, the 10,000 unique BAYC cartoon drawings earned cult status when their prices soared and big celebrities started buying them. To date, the most expensive BAYC NFT sold for a staggering $3.4 million.

ApeCoin, the fungible token, and a number of products and services make up the ApeCoin ecosystem. The coin is governed by the ApeCoin DAO, of which all token holders are eligible to become members. The ApeCoin DAO makes decisions on matters such as governance rules, partnerships, projects, Ecosystem Fund allocations, and more. The Ecosystem Fund supports community-driven initiatives and was allocated 62% of the ApeCoin supply when launched. 

In April 2022, Yuga Labs started minting virtual land in their Otherside metaverse, using ApeCoin for payment. ApeCoin is used to facilitate all transactions taking place in this virtual world.

Who created ApeCoin?

ApeCoin was created by Yuga Labs, inspired by the Bored Ape Yacht Club project. Supported by the Ape Foundation, ApeCoin is governed by the ApeCoin DAO which creates a framework for permissionless governance processes. These decentralized authoritative frameworks are designed to create a fair and inclusive ecosystem in which the coin can flourish. 

Within the Ape Foundation is an administrative council known as the "Board" which is responsible for implementing the decisions made by the ApeCoin DAO members. This Board is voted in by the ApeCoin DAO members on an annual basis and is not controlled by Yuga Labs. 

How does ApeCoin work?

ApeCoin grants holders access to exclusive games and services within the Ape Ecosystem and can be used for transaction purposes on the Otherside metaverse. It also acts as a tool in which third-party developers can tap into the Ape Ecosystem by incorporating APE into their own projects, games, and services. 

Animoca Brands, for instance, created a play-to-earn (P2E) game called Benji Bananas that utilizes ApeCoin, incentivizing and rewarding players with APE. 

From a governance perspective, holders of APE can become members of the ApeCoin DAO which vote on decisions impacting the ecosystem's functioning and growth. This might include anything from which partnerships the ecosystem should pursue to how funds are allocated. These decisions are then implemented by the ApeCoin Foundation, the 5-member Board acting as the DAO's legal representative. 

What are APE tokens?

ApeCoin (APE) is an ERC-20 token compatible with the Ethereum blockchain and any supported wallet. The coin was launched in March 2022, with all 1 billion tokens minted at once. When minted, 62% of the coins were allocated to the Ecosystem Fund which are then allocated to community-based projects based on Ape DAO decisions. 30.25% were released into circulation for the community to engage with. 

How can I buy the APE token?

If you’d like to become an ApeCoin holder or incorporate APE into your investment portfolio you can do so easily with the Tap mobile app. Through your account, you can gain access to the APE market using a range of supported crypto and fiat currencies. 

When loading your account with fiat, all bank transfers are free, and once you have a positive balance, users can use the funds to pay bills both within and outside of the crypto service ecosystem directly from the app. Buy, sell, store and trade APE from the secure location of your Tap app.