We are excited and happy to enter 2022. We prepared our monthly round-up with great news so that you remain updated with the team as well as UpSocial Network updates.
Founder Hanif Shaikh Featured on NewsX Channel as a crypto expert
The first week of December started with a grand note. Founder Hanif Shaikh was invited on the NewsX channel for the 2nd time on 1st December 2021.
Hanif shared his views regarding the consequences of passing the crypto bill in India in terms of the Indian market. While everyone is still unclear about the bill, you will find the interview and his opinions here:
Founders Attended The Event Hosted by Latokens Exchange
While the founders continued their work in Dubai, they attended more crypto-related events. One of the significant events was hosted by Latokens Exchange on 5th December.
As usual, it turned out to be a highly fruitful event because of the connections and expansion of the network. Here are the glimpses with crypto influencers Sergey Kosenko, Aziz Falakzada, and many others.
On 12th December, both the founders met Tilen Skrubej from Solidum Capital.
To sum up, all these meetings with crypto influencers as well as industry experts give a fresh outlook towards our ideas and mission. Similar-minded people with more experience are pure guides and mentors.
CTO Met No Other Than The Real Wolf of Wallstreet
Ashish Verma, CTO of UpSocial Network, met Jordan Belfort. Jordan Ross Belfort is a famous American entrepreneur, speaker, author, and former stockbroker.
Ideas from him further broadened the vision of Ashish. It was indeed a moment to cherish for life.
After all, you don’t meet your inspirations and celebrities every day.
2021 was an excellent year for us, and it was only possible because of your support. We assure you that we will keep working as per the roadmap in 2022.
Happy New Year to everyone.
More updates are coming up in 2022!
Consider joining our Telegram group if you want to stay updated with some exciting updates and upcoming features. You can even connect founders and team directly 😉 Join Telegram group
Meeting new people and finding new opportunities to run a healthy business are crucial parts of entrepreneurship.
For the same spark of making UpSocial a better foundation, CEO Hanif Shaikh and CTO Ashish Verma flew to Dubai for business tasks and crypto conferences.
As expected, it turned out to be a highly productive business tour.
UpSocial founders met the founders of BitPlay, Victor Biola Ogunshina and Charles Adenuoye, during the Cryptogon event. They even met Franco Fiore, co-founder of Ecox Dubai! Ayesha Sodha was a great personality to discuss growth in the crypto market.
UpSocial founders intend to spend some more time in Dubai to understand the business, market, and several essential strategies from like-minded people industry people.
Founder Hanif Shaikh Got Featured on NewsX Channel
On 24th November, Hanif Shaikh gave some insights on India’s upcoming crypto bill.
NewsX is another Indian news channel that gains eyeballs from millions of Indians. The publication considered taking interviews of crypto experts, and UpSocial founder was one of them.
If you missed it, you can watch the episode here:
That was all about November updates from the UpSocial team.
Curious to know about the next steps? Here is our roadmap to explore our further plans.
More updates are coming up!
If you want to stay updated with some exciting updates and upcoming features, why not consider joining our Telegram group? You will directly connect with the team. 😉
There are several cryptocurrencies in the market. Dozens of new tokens get flooded on crypto exchanges daily. We have UpTokens (USN).
According to Investopedia, there are more than 4000 cryptocurrencies listed on tier-1 exchanges. We are not even talking about the unlisted tokens that lead nowhere.
Making a token is easy. Even if someone has basic technological knowledge, that person can make one.
Now the real questions – why do we need so many tokens, and how to decide your investments?
What was the need for so many cryptocurrencies when we had Bitcoin?
The underlying blockchain technology allowed developers to create their applications. That made them create different cryptocurrencies with their functionalities.
We indeed have thousands of cryptocurrencies, but all of them are different.
Some of them are trying to solve real problems, while most tokens are created for fun.
Every primary cryptocurrency has a purpose and a community supporting it. No token can ever succeed without the acceptance of its community.
Bitcoin (BTC) was developed to decentralize the payment systems. We can’t ignore the fact that it got the first-mover advantage.
Similarly, Ethereum (ETH) was created to build and publish distributed applications (dapps) to solve the problems like downtimes, frauds, and attacks.
Some platforms create their cryptocurrencies to use on their platforms. Users need to buy those coins and use them on their platforms. Like the virtual coins used in video games, users can exchange these cryptocurrencies for value.
Binance Coin (BNB) is an excellent example of a utility token for discounted trading fees on the Binance cryptocurrency exchange.
Let me talk about us. UpTokens (USN) is helpful for circulation in the UpSocial Network. Circulation of UpTokens ensures that the value of tokens will keep increasing with time and usage by the community members.
But how do we take our call about crypto investments?
It’s tough. Let’s be realistic that the power of creating tokens has been decentralized, and every individual can do that.
That implies that there are strong possibilities that some tokens might be fake or even scammy.
How would you identify genuine tokens with some real potential?
Check out the purpose and vision behind creating a token.
If a token has a well-built website that explains its purpose, it is a great start. Further, you can check if there is any whitepaper. Whitepapers are strong indicators of the seriousness of the founders.
At UpSocial, we are heavily working on turning an idea into reality. It mentions how we are trying to make a decentralized social network.
All the details are mentioned in our whitepaper.
In a nutshell, it’s essential to know the use case of a crypto token. Shitcoins created for fun don’t have any!
Bonus Tip: Join the Telegram groups or communities of the tokens to check the activities of the company, project, founders, and the team.
Have you joined our Telegram Group yet? Get your doubts resolved on Telegram.
UpSocial is a truly decentralized social network. So, it means that can’t use traditional centralized servers that tech giants use. We use IPFS instead. Why?
How will you scroll through the memes if Facebook decides to shut down its servers? How would you watch cat videos for hours if the Government blocked YouTube servers?
These tech giants have multiple servers and backup of those servers. But in the end, it’s still under the control of these organizations.
It’s feasible for tech giants to buy servers, but how will small businesses manage that? If your business is hosted on an AWS server and it crashes for some reason. Guess what? You can’t do anything.
Here’s where IPFS comes into the picture. The technology is not futuristic, but it is being used presently.
What is (Interplanetary File System) IPFS?
Interplanetary File System is a decentralized version of storing files. The same file is stored in multiple users’ computers present in a P2P (peer-to-peer) network.
Even if the file is deleted from one computer or some computer shuts down, the file will remain available in the network. Some other computer must be having a copy.
That’s the simplest explanation.
Even UpSocial Network uses the same technology!
Any image, video, or file is recognized by its URL or IP address on the traditional web. That’s because it has a fixed location.
Suppose you posted an image on Facebook. It has a unique URL so that you can share it anywhere.
However, if you delete that image later, nobody would access that image even if some other Facebook user has a downloaded copy of your image.
IPFS doesn’t work like this. It recognizes the file according to the content and not by its URL or location. In short, it made the file recognition system from location-based addressing to content-based addressing.
Every file is associated with a hash. Since the files are associated with the hash, it becomes impossible to tamper with the original file. Hash adds a layer of security.
How Do Interplanetary File System Store Files?
A file is stored in an IPFS object. The IPFS object consists of 2 parts – links and data. Data is for storing your file, and a link is to connect other IPFS objects.
Every IPFS object can store data up to 256 KB. But what if your data is more than that?
It will simply split the data into multiple objects and link with each other.
Since the file remains original with unique hash associates with it, IPFS allows versioning to make changes if you want to update a file on the network, versioning it the process.
IPFS provides low latency that is decentralized and secure. It lets us come up with several compelling use cases. IPFS can use it to deliver content to websites, globally store files with automatic versioning & backups, facilitate secure file sharing and encrypted communication.
So many advantages are the whole reason why we are using IPFS technology at UpSocial Network.
To know more about the development and team’s ongoing work, we recommend joining our Telegram group. You are free to ask questions and resolve your doubts there.