Question 1

What is the current price of BlockStamp (BST)?

Accepted Answer

As of the latest update, the price of BlockStamp (BST) is XRP 0.01967175. In the past 24 hours, the price has increased by +0.00%. It's important to note that cryptocurrency prices are highly volatile and can change rapidly within short periods.

Question 2

What Is BlockStamp (BST)?

Accepted Answer

BlockStamp is a cryptocurrency that was created as a fork of the Bitcoin blockchain. It is designed with a focus on promoting liberty, transparency, and sovereignty in digital economy areas where these values are likely to be compromised. The BlockStamp blockchain encompasses several built-in features such as a tool for timestamping data, a gambling platform that claims to ensure fairness, a Domain Naming System resistant to censorship, and its native cryptocurrency, the BST coin.

Question 3

Who created BlockStamp?

Accepted Answer

BlockStamp was developed by a group of developers interested in preserving certain values in the digital economy. However, specific founding members are not mentioned. The BlockStamp project leverages the underlying principles of the Bitcoin network while introducing features that aim to address certain needs not directly targeted by Bitcoin.

Question 4

How does BlockStamp work?

Accepted Answer

BlockStamp operates much like Bitcoin since it is a fork. This means it uses a similar decentralized blockchain system where transactions are recorded on a public ledger. It includes a proof-of-work algorithm, allowing miners to validate transactions and secure the network by solving complex mathematical problems. Additionally, BlockStamp hosts applications directly on its blockchain, like timestamping digital data for added security and transparency, and providing a gambling platform claimed to be provably fair.

Question 5

What makes BlockStamp unique?

Accepted Answer

BlockStamp stands out due to its built-in applications, which are not typically found on other blockchains. The timestamping service it provides allows users to securely and transparently seal their digital data as a proof of authenticity and existence at a certain point in time. Moreover, the BlockStamp blockchain powers a gambling platform that promises radical fairness and is built to be resistant to fraud. BlockStamp also features a DNS that cannot be censored, promoting freedom of speech on the internet. Its multipurpose nature makes it unique as a blockchain solution catering to various aspects of the digital economy.

Question 6

How is BlockStamp's Domain Naming System different?

Accepted Answer

BlockStamp's Domain Naming System (DNS) differs from traditional DNS in that it is built on a blockchain, which provides resistance to censorship. Typical DNS services can be subject to downtime or interference from governments or corporations, but a blockchain-based DNS is decentralized, reducing the risk of censorship and promoting a freer internet.

Question 7

How much BlockStamp (BST) is currently in circulation?

Accepted Answer

The circulating supply of BlockStamp (BST) is  coins. It's essential to understand that this supply may change over time as new coins are mined and as transactions happen on the network.

Question 8

How is BlockStamp’s technology upgraded?

Accepted Answer

BlockStamp's technology is upgraded through consensus within its community and developers. As a fork of Bitcoin, it may adopt similar upgrade processes, including proposals, discussions, and agreement on implementing changes. Any significant upgrades would require a majority of the network participants to accept the changes, ensuring that the system remains decentralized and democratic.

Question 9

Where can you buy BlockStamp (BST)?

Accepted Answer

BlockStamp (BST) can be purchased on various cryptocurrency exchanges. The list of exchanges that currently support BST include CoinAll, STEX, DigiFinex, CREX24. Always ensure to use reputable exchanges and exercise due diligence when trading cryptocurrencies.

Question 10

How to keep your BlockStamp safe?

Accepted Answer

To keep your BlockStamp (BST) tokens safe, it's crucial to use secure wallets that provide strong encryption and key management. Hardware wallets are often considered the safest option, as they store your private keys offline. It's also important to keep your wallet's software up to date and to practice safe internet habits, such as avoiding suspicious links and using two-factor authentication whenever available. Remember to backup your wallet regularly and keep the backup in a secure location.

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