Ethereum price today, ETH marketcap, chart, and info ...

New Ethereum Faucet just came online to earn some free Gwei! ETH faucets much harder to come by than for other coins. Posting as I don't believe this is widely known yet; please feel free to use or not use my referral link (just remove the "ref" and everything after if you'd prefer).

submitted by ThereWillBeSmegma to CryptoFaucets [link] [comments]

Why Ethereum Mining?

1. High market capitalization, second to bitcoin only
Ethereum is the most dynamic blockchain platform in the world, and Ether is the second largest cryptocurrency in the world by market capitalization. There are around 1,200,000 transactions processed per day on this platform. Numbers explain everything.
https://preview.redd.it/w57fpy6njvp51.png?width=398&format=png&auto=webp&s=dbac1c20eaa78a503b71c8f667b12293f9079208
2. Dapps on Ethereum outnumbers any other blockchain platform
Not only just a digital currency or commodity, ethereum also keeps its original motivation to be a global computing platform that allows users to deploy smart contract on it. As a kind of smart contract programmed for a specific use, there are about 2 ,000 decentralized applications, or dapps, deployed on ethereum by this June, which is more than the total numbers of dapps deployed on any other general purpose blockchain platform in the world combined.
https://preview.redd.it/vau9ezssjvp51.png?width=461&format=png&auto=webp&s=02f121dce31a405802721a878a74a7b3e16cde14
3. Considerable payback
ETH mining profit basically consists of two parts: the value of the coins and the transaction commission. Once you mined a block, you will not only get the coins, but also the commission to prove the transactions that will be processed in the network. Because of the network congestion brought up by DeFi application ‘s popularity, transaction commission contributes much to the mining profit recently.
(Averages on 17th September,2020:
Ether Price: $389.49
Gas Price: 538 Gwei
Gas Limit:12,472,107
*Commission=538*12472107=6,709,993,566Gwei≈6.71ETH)
https://preview.redd.it/exsbhw4ujvp51.png?width=399&format=png&auto=webp&s=b781f5ab2bac90304fd3be021def54501ba7252b
https://preview.redd.it/teo1s1rujvp51.png?width=409&format=png&auto=webp&s=f77a33453688168a976c7313d0887a0a01b19534
Below is a profitability ranking of ASIC miners for some mainstream crypto coins when Gas price is around 60~70Gwei and coin price is about $360. I couldn’t find a ranking that could include all AISIC miners and GPU miners, but it’s enough to show that ETH mining is much more profitable than others. Even though when Gas price and coin price is not very high, the revenue of ETH mining still beats other mainstream cryptocurrencies.
https://preview.redd.it/ht2j1evvjvp51.png?width=557&format=png&auto=webp&s=9b415f227b9c0a00cf7af9682eea85ef9b85e6d8
4. Lower Network Difficulty
Compare to bitcoin network hash rate, Ethereum network hash rate is only 244.14TH/s; Less network hash rate means less difficulty, furtherly means that there will be more chance to mine a block and get coins. Nowadays, for bitcoin mining, the possibility to mine a block solo is almost zero, but for ETH mining it is still possible. In my opinion it is the golden time for ETH mining.
https://preview.redd.it/vsl0b2swjvp51.png?width=533&format=png&auto=webp&s=e8c335c4476c27cfe3872433acf08f3747ce7d05
Whether you are a new bird or an experienced senior in this field, ETH mining is the best choice in 2020.
submitted by Gravityfreeyo to EtherMining [link] [comments]

StarkWare's Submission to Reddit's Scaling Bake-off 2020

StarkWare's Submission to Reddit's Scaling Bake-off 2020
*** Edited with the full post - see below ***
https://preview.redd.it/obtx16cphud51.png?width=1920&format=png&auto=webp&s=448c481526ffb4c6e5fb1a06f711134d63e1b75b
This is our submission to the great Reddit Scaling Bake-off 2020.
It’s a StarkEx Rollup (data on-chain).We did it in 1 proof, 300K transactions, 3,000 TPS, 315 gas / transaction on Ethereum mainnet.
To watch our demo and read our detailed explanation of how we did it - see our post:
https://medium.com/starkware/the-great-reddit-bake-off-2020-c93196bad9ce

Dear Reddit,

This is our submission to The Great Reddit Scaling Bake-off. It’s a StarkEx Rollup (data on-chain).
Sincerely,
StarkWare

Show & Tell


https://reddit.com/link/i01sjk/video/olyq4gjr3yd51/player

Our Deck

Is here

Detailed Description

Table of Contents

StarkEx — General
  • System Overview
  • Product Documentation
StarkEx — the Reddit Bake-off
  • Cost Analysis
  • System Architecture
  • Code

System Overview


https://preview.redd.it/ut4vmvqy3yd51.png?width=1089&format=png&auto=webp&s=ad7b4402e471ded5aa02ed25d6c7f668e4e3a0aa
The StarkEx engine has on-chain and off-chain components. Generally speaking, off-chain is for heavy-duty computation and storage, while on-chain is for the computationally-lean verification , state commitment, and data-availability required for using the escape hatch.
For a more detailed overview read our medium post. Note, however, that this post describes StarkEx in Validium mode (off-chain data), whereas in this bake-off we demonstrated StarkEx in Rollup mode (on-chain data).A note on terminology: Rollups using cryptographic proofs are often called “ZK-Rollups” even when the proofs are not Zero-Knowldge (ZK); we shall use this common term when referring to the general class of proof-based Rollups.

Product Documentation

See here.

StarkEx Demo for the Reddit Bake-off

Cost Analysis

TL;DR
  • StarkEx can operate with either on-chain data (Rollup mode) or off-chain data (Validium mode).
  • In this bake-off, we operated in Rollup mode. Our total Mainnet on-chain gas cost was 94.47M gas, which translates to an average of 315 gas per Tx. The off-chain costs were a small fraction of this. These are actual measured Mainnet costs, not optimistic estimates.
  • Running the bake-off in Validium mode would have cost 5M gas total, which is under 17 gas per Tx. StarkWare already has a StarkEx system in Validium mode deployed on Mainnet.
  • StarkEx outperforms other Rollup solutions
  • It outperforms existing ZK-Rollups in both on-chain and off-chain costs.
  • It fundamentally out-performs Optimistic Rollups (OR) in on-chain costs. Because cost is dominated by on-chain costs, it has a fundamental cost advantage over OR.
Details
There are two sets of costs in a StarkEx system:
  1. On-chain costs
  • Submitting and verifying proofs
  • (Only In Rollup mode:) publishing data pertaining to state changes
  1. Off-chain costs: running the StarkEx cloud service, and specifically the provers
In Rollup mode, the on-chain portion is the dominating part of the cost. Note that the actual on-chain cost per Tx is much lower in ZK-Rollup solutions than in OR solutions, since the amount of data that needs to be published is much smaller.
In the bake-off, the actual on-chain costs were 94.47M, (average of 315 gas per Tx) and the off-chain costs were negligible in comparison (less than 5% of on-chain cost).
At a gas cost of 70 gwei, this cost us 6.6 ETH, which at an ETH price of $230 cost $1,518 (average on-chain cost of ¢0.5 per bake-off Tx). Naturally, the USD price fluctuates with the price of gas on Ethereum, and the price of ETH.
94.5% of on-chain costs were due to operating in Rollup mode, i.e. for posting the transaction data on-chain (section 1.b above). Had we run the same in Validium mode, the on-chain costs would have been a mere 5M gas (average of under 17 gas per Tx), and would have cost 0.35 ETH, which translates to a total of $80.5 (average of ¢0.02 per bake-off Tx).
On-Chain Gas Consumption Summary:
StarkEx Cost per Batch of 300K Txs Amortized Cost per Tx
Rollup 94.47M gas or ~$1.5K 315 gas or ¢0.5
Validium 5M gas or ~$80 17 gas or ¢0.02

With StarkEx, the verification cost grows only poly-logarithmically with respect to the batch size. This is displayed most clearly in Validium mode, where data is not posted on-chain, and thus on-chain cost scales sub-linearly (logarithmically) with batch size. Consequently, at high scale, the amortized on-chain cost of a single Tx in Validium mode goes to zero with batch size, and the off-chain cost dominates. In terms of off-chain cost, STARKs have a significant advantage over SNARK-based solutions: latest state of the art STARK provers are 20x faster than state of the art SNARK provers and this speedup is based on fundamental cryptographic reasons¹.
In general, the actual cost depends on various factors, including:
  1. As stated above, on the price of gas on Ethereum, and the price of ETH.
  2. System throughput (number of Tx per second): StarkEx achieves efficiency via batching, as verification cost is only logarithmic wrt the batch size. The bigger the batches, the lower the cost per Tx. Generally speaking, higher throughput lends itself to bigger batches, and thus lower average cost per Tx.
  3. Maximal latency allowed between Tx and its submission on-chain: the bigger the allowed latency, the bigger the batches, and the lower the cost per Tx. Larger latency also better enables timing proof submissions for when gas costs are lower.
  4. Data Availability solution: as mentioned above, the current bakeoff was in Rollup mode, where most of the system cost is the on-chain data availability. Running in Validium mode would have reduced the on-chain cost by a factor of 20x.
  5. Number of concurrent competing off-chain proof operators and mechanism of distributing proofs between them: generally speaking, if several proof operators generate proofs in parallel and compete for submitting them, the off-chain costs grow, as those operators all need to be compensated for their on-going cloud costs.
  6. Business relationship/agreement with the proof operators: if Reddit runs the proof operator itself, the off-chain costs are just the out-of-pocket costs of running the service (including prover license/usage fees). If other entity/ies provide the service, the cost could be higher.
  7. Whether the proofs contain just Reddit Txs, or are they bundled together with Txs from other applications: since batching lowers costs, bundling Reddit Txs alongside Txs from other applications into the same proofs can lower the average cost per Tx.
  8. Optimizations based on usage patterns: StarkEx contains various optimisations within each batch (e.g. bundling together different Txs that relate to the same accounts). In some cases, the usage patterns of the application benefit more from these optimisations (e.g. if in many cases, a batch contains many Txs for the same accounts, the average cost will be lower).
The cost quoted above for the bake-off can provide a decent rough cost estimate for a live system (once again, assuming on-chain data availability; otherwise they would be considerably lower). More exact estimates could be provided once we get tighter specifications for the desired system configuration.
Note that the costs quoted above are the actual variable costs for running the bake-off on Mainnet. We have read various publications from competing scaling solutions quoting costs that are merely estimates, and often neglect significant parts of the actual cost structure, as typically they don’t yet have a fully functional product. As far as we know, STARK (as a cryptographic protocol) and StarkEx (our specific implementation for this use case) are significantly more efficient than other cryptographic proof systems. For example, ethSTARK, our EF-funded open-source code, is 20X faster than any other proof system we know of. This efficiency translates to a cost advantage over other alternatives, when all considerations are taken into account.

System Architecture

Highlights
  • Scalability: High throughput enabled by batching transactions.
  • Integrity: Cryptographic proofs and commitments ensure true ownership of Points.
  • Accessibility: Support by leading wallets, and no on-chain operations required from users.
System Components

https://preview.redd.it/v399tflc4yd51.png?width=700&format=png&auto=webp&s=7385cb25bc135bb0b2183358a1d2cee9d0c62480
Minting (1)
Minting is done by transferring Points from the moderator accounts to chosen users (per Reddit’s specification, users claim these Points). This is done via the Moderator API.
UX — Subscribe, Tip, and Burn (2)
Initiating User Commands
StarkWare built a Reddit Chrome Extension (RCE) that monitors user activity on the Reddit website. The RCE catches events such as Subscribe (clicking the subreddit “JOIN” button), and Tip (adding a response starting with “/tip”), and interprets them appropriately. Whenever the RCE catches a user command, it constructs the required StarkEx transaction, and requests the user to sign it with their selected wallet. The signed transactions are passed by the RCE to the StarkEx Scalability Engine (SESE) in the cloud. StarkEx batches transactions, generates a STARK proof attesting to their integrity, and writes to Ethereum the proof, a commitment to the updated user balances data structure, and the modified user balances.
Frictionless User Experience
Users limiting themselves to the basic Reddit Point interactions (namely: claiming Points, subscribing to a subreddit, tipping other users, and burning Points) need not interact with Ethereum, and in particular, no on-chain registration is required. Only when users choose to interact with Ethereum, e.g. to withdraw or deposit Points, do they need to register on-chain as well. On-chain registration simply means linking a user’s Ethereum address with their StarkEx account.
Wallet Support (3)
Native Integration
Several wallets support the StarkEx ECDSA signature scheme and APIs, offering maximal security to their users. These wallets securely present to the user StarkEx transactions in a clear and readable format, so the user knows what they are signing. This ensures that any attempts at tampering with the message (e.g. by malware) can be detected by the user prior to signing.
Currently provided by: Ledger, Authereum, Portis, and Argent (via WalletConnect).
Standard Integration
Where Native Integration with StarkEx has yet to be completed, we opted for Standard Integration. For the Reddit bake-off, these wallets are used strictly for the secure storage of the user’s private key. When using such a wallet, the RCE itself signs the message with the key it obtains from the wallet.
Currently provided by: MetaMask and Torus.
StarkEx Scalability Engine (4)
The SESE runs in the cloud, and is responsible for batching transactions, generating a STARK proof attesting to their integrity, and updating a commitment (a hash) to the new state of accounts following this batch. StarkEx sends to Ethereum the STARK proof, alongside the commitment. The StarkEx smart contract system checks the proof, and if it is accepted, it stores the commitment on-chain. StarkEx accompanies each proof sent to Ethereum with the list of modified account balances verified by the proof as well (aka on-chain data availability), thus ensuring the anti-censorship mechanism described below.
StarkEx Batch Explorer (5)
The StarkEx batch explorer connects to the SESE. It allows viewing the batches created, and the transactions in each batch. The batch explorer also displays a readable format of the modified accounts data that StarkEx puts on-chain, which the explorer reads directly from the blockchain. Note that the set of transactions displayed requires trust in the explorer, as it cannot be derived merely from observing the commitment and the modified accounts recorded on the blockchain.
Anti-Censorship Mechanism
Serving All or No One
In StarkEx, a user should always be able to withdraw their Points to the Ethereum blockchain, as ERC-20 coins. In the standard flow, a user sends a withdrawal request to the SESE via an off-chain API. Off-chain API service requires trust in the Operator (e.g. system availability). If a withdrawal request isn’t serviced by the Operator, the user submits a Full Withdrawal request (think of it as the equivalent of filing a complaint to a trustless party) to the StarkEx-Reddit Smart Contract. This triggers a grace period during which the Operator may submit a proof serving the withdrawal request. If that happens, the system reverts to its normal operation. Otherwise, the smart contract freezes the StarkEx system by declining to process any further updates.
Withdrawing Points from a Frozen StarkEx
When the system is frozen, users can claim their Points and withdraw them on-chain , by demonstrating to the smart-contract that they indeed own the claimed assets. The commitment stored on-chain is actually a Merkle tree commitment to the user balances. A user can withdraw funds directly from the contract by providing a Merkle authentication-path from their account (a leaf in the tree) to the root (the commitment kept on-chain). The on-chain data-availability sent with every batch processed contains the information needed to allow a user to construct such authentication paths (the data is broadcast solely for this purpose).

Code

Proxy contract:
https://etherscan.io/address/0x7737d2afcd437a07dc8d58792344e76b4f8e93b6#code
Implementation contract:
https://etherscan.io/address/0x4126cf347cd0d3aa900041756329de4c319933b0#code

-----
¹ Briefly, SNARKs require computationally heavy number-theoretic cryptography while STARKs use lean (post-quantum safe) symmetric cryptography. See this post for a more detailed survey and comparison of deployed proof systems.
submitted by starkware to ethereum [link] [comments]

Token transaction costs

Hello everyone, I've been browsing reddit looking for the answer to this question. I'm working on creating my own Etherum token. Some sources say to use this: https://ethgasstation.info/index.php At 150 gwei and an etherum coin costing $374, this would come out to much less than a cent. However, this source https://ycharts.com/indicators/ethereum_average_transaction_fee#:~:text=Ethereum%20Average%20Transaction%20Fee%20is,K%25%20from%20one%20year%20ago. puts it at over $5 per transaction.
Thanks
submitted by Cyphxr4520 to ethtrader [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

Major Stories In Crypto This Week

Major Stories In Crypto This Week
https://preview.redd.it/1oaizrm3yho51.jpg?width=1280&format=pjpg&auto=webp&s=e8870de366cc62eaad247a7e8ca18252cb6da19b
Waiting for ETH fees to become cheaper
From now on, every Monday we will be doing a weekly news digest where we will be discussing the biggest stories on the crypto market over the previous 7 days. Why are we doing that? It’s simple — we want to create a useful news outlet for our community members’ convenience.
So, what events marked the third week of September?
Analysts predicting a Bitcoin price rally
“The whale exchange ratio is at the lowest level of the year — the fewer whales moving to the exchanges, the fewer spills and [a] higher BTC price”, said CryptoQuant CEO Ki Young Ju on Thursday. This indicates a possible price rally soon: the less coins whales send to exchanges, the less chance there is for the price to dump, therefore, the higher the chance for a price rally. This is proven by experience: the last time this figure dropped from the current level in April 2019, Bitcoin price grew from $4000 to $13000 over a few months.
FORSAGE.io — how is this information useful to us? It’s important to remember that whenever the first cryptocoin’s price goes up, altcoins invariably follow suit. This means that if BTC shoots up in value, the possibility of TRX and ETH going up also increases, and that’s great news for the entire FORSAGE community.
Is Ethereum still going the Proof-of-Stake route?
A leading Ethereum developer, Danny Ryan published the official Ethereum Improvement Proposal EIP-2982 that implies the launch of Ethereum 2.0 and the switch to Proof-of-Stake. If his proposal gets passed, it may become implemented into the network, solving the issue of high commission fees.
FORSAGE.io — how is this information useful to us? The high commission fees on the ETH network has been slowing down the growth of the FORSAGE community for the past month, because the price of tens and even hundreds of dollars per transaction is unacceptable to most people. We are all looking forward to the day this issue is solved.
DeFi projects boom
DeFi projects are becoming more and more popular — for example, Uniswap, a decentralized exchange, saw its token rise in value by 75% after listing on world’s leading exchanges, making it on the list of top 50 highest market capitalization assets.
FORSAGE.io — how is this information useful to us? It is DeFi projects and their popularity that catalyzed the unprecedented increase in transactions on the Ethereum network, driving the price of transactions further up. After the price of gas for Ethereum transactions has been hovering above 100 Gwei for the past few weeks, on September 17th it jumped all the way to 700 Gwei. This is why we are very excited about the previous news story — the launch of Ethereum 2.0
Over 10% of all crypto payments take place in Eastern Europe
Chainalysis has published another study that shows 12% of all cryptocurrency transactions that took place from July 2019 to June 2020 happened in Eastern Europe! This means the region is the fourth biggest market in terms of transaction volume, and while it is out-grossed by the giants that are the US and China, the region is growing quickly.
FORSAGE.io — how is this information useful to us? The Eastern European region is developing, in part, driven by the increasing commitment of many countries to decentralization and economic freedom. This positively affects the local levels of crypto activity. Let’s find out where the majority of the FORSAGE community comes from! Leave a comment with your country below!
submitted by Forsage_io to ico [link] [comments]

6 Reasons Why Serum Won't Succeed

6 Reasons Why Serum Won't Succeed

The world of DeFi is exploding but is it all it’s made out to be?

DeFi (decentralised finance) is most certainly the buzz in the crypto world this minute. It’s bringing similar feelings which was the 2017/18 ICO phase, where a mammoth of new projects begun to explode onto the scene, each with their own promise of new innovation and use case.
Hindsight has shown us that most of those projects have ultimately failed, or worse, were outright scams that took advantage of not so wise investors looking to make a buck. Obviously, not all projects fit that description, with many teams still around today working on and delivering their individual visions. Crypto is, after all, still a big experiment of new technology.

Enter DeFi: Serum

DeFi has exploded into the limelight over the last few months, with some tokens appreciating hundreds of percent in price. It appears to be the catalyst that has driven a huge market shift in the crypto world, and for those who’ve been around a number of years, this is a welcome change.
In this piece, I’m going to examine a particular project called Serum.
Serum is the world’s first completely decentralized derivatives exchange with trustless cross-chain trading brought to you by Project Serum.
The Serum Project is aiming to create both a decentralised exchange and a cross-chain swapping mechanism. In this article, I’m going to focus solely on the cross-chain swapping aspect of Serum.
Although the Serum whitepaper is quite short and lacking in detail, it is useful to derive some understanding of how the cross-chain swapping protocol should work. Throughout this review, I will use it to describe how the imagined protocol works.

Overview

Let's assume Alice wants to trade some BTC for ETH and Bob wants to trade some ETH for BTC using Serum. These two users are matched and agree on a price using an on-chain order book on the Solana blockchain (whitepaper provides no practical details on how to do this).
Once these users are matched, Bob must send the ETH he wants to trade to an Ethereum smart contract, plus some amount of ETH ~200 USD worth (see section 4 below) to the smart contract as collateral. Alice will also need to send some collateral to the smart contract. Once this initial setup process is complete Alice then has to send her BTC to Bob’s BTC address and if Bob receives the BTC from Alice he can then release his ETH from the smart contract sending it to Alice’s ETH address. Upon completion of this both Alice and Bob are refunded their ETH collateral.
So what happens if something goes wrong? For example, say Alice never sends BTC to Bob, after some period of time Bob can initiate a dispute. When the dispute begins both Alice and Bob present a portion of the Bitcoin blockchain information to the smart contract (see section 3). The smart contract then decides whether or not Alice did send BTC to Bob. If she hasn’t then the smart contract returns Bob's ETH and collateral to Bob and also takes Alice’s ETH collateral and gives that to Bob. The same occurs in reverse if Alice sends BTC but Bob never approves the transfer of ETH from the smart contract.
This scheme seems pretty simple, there’s no oracles and no centralised parties, however, it has a number of disadvantages.

1. User-Provided Collateral Is Bad for User Experience

Each time a user conducts a swap they must reserve some percentage or fixed amount to cover the collateral for the swap. This collateral amount needs to be present to prevent griefing attacks where users initiate swaps with no intention of ever following through and sending funds to the alternate participant.
However, this creates a poor user experience as both Alice and Bob need to have at least the value of the dispute fee committed to the contract in collateral before they conduct a swap. This is totally foreign from the normal exchange experience in which you only require a single coin and a single transaction to begin trading. For example, if using Serum to trade Bitcoin you would need to hold Bitcoin and ~200$ of Ethereum and also interact with the Ethereum chain before any swap occurs. This adds unnecessary complexity and confusion, especially for newcomers to the crypto space.

2. ETH Must Always Be on One Side of the Swap

Although the Serum method of cross-chain swapping could occur on any blockchain with smart contracts, the Serum whitepaper makes it clear the Serum arbitration contract is going to be deployed on the Ethereum blockchain. This means one party must always be locking the full value of the trade in ETH using an Ethereum smart contract.
This makes it impossible, for example, to do a single step trade between Bitcoin and Monero since the swap would need to be from Bitcoin to ETH first and then from ETH to Monero. This is comparable to other proposed cross-chain swap systems like Thorchain and Blockswap, however since those networks use AMM’s (automated market makers)and decentralized vaults to take custody of funds, the user needs not to interact with the intermediary chain at all.
Instead in Serum, the user wanting to swap Bitcoin to Monero will need to do the following steps:
  1. Send Ethereum collateral to the Serum arbitration contract
  2. Send Bitcoin to the user they are swapping with.
  3. Receive Ethereum
  4. Send Ethereum back to Serum arbitration contract
  5. Receive Monero
  6. Send Ethereum out of Serum arbitration contract
  7. Receive back Ethereum collateral
It might be possible to remove or simplify step 4, depending on how the smart contract is built, however, this means a swap from BTC to Monero would require 2 Ethereum and 1 Bitcoin transaction in the best-case scenario. Compared with the experience of other cross-chain swapping mechanisms, which only require the user to send a single transaction to swap between two assets, this is very poor user experience.

3. Proving Transactions on Arbitrary Chains to a Smart Contract Is Not Trivial

Perhaps the most central part of the Serum cross-chain swapping mechanism is left completely unexplored in the Serum whitepaper with only a brief explanation given.
“[The] Smart Contract is programmed to parse whether a proposed BTC blockchain is valid; it can then check which of Alice and Bob send the longer valid blockchain, and settle in their favor”
This is not a trivial problem, and it is unclear how this actually works from the explanation given in the Serum whitepaper. What actually needs to be presented to the smart contract to prove a Bitcoin transaction? Typically when talking about SPV the smart contract would need the block headers of all previous blocks and a merkle inclusion proof. This is far too heavy to submit in a dispute. Instead, Serum could use NIPoPoW, however, these proofs only work on chains with fixed difficulty and are still probably prohibitively too large (~100KB) to be submitted as a proof to a contract. Other solutions like Flyclient are more versatile, but proof sizes are much larger and have failed to see much real-world adoption.
Without explaining how they actually plan to do this validation of Bitcoin transactions, users are left in the dark about how secure their solution actually is.

4. High Dispute Fees Force Large Collateral on Small Trades

Although disputes should almost never happen because of the incentives and punishments designed into the Serum protocol, the way they are designed has negative impacts on the use of the network.
Although the Serum whitepaper does not say how the dispute mechanism works, they do say that it will cost about ~100 USD in GAS to dispute a swap.
Note: keep in mind that the Serum paper was published in July 2020 when the gas price was about 50 Gwei, as Ethereum use has picked up over the past month we have seen average GAS prices as high as 250 Gwei, with the average price right now about 120 Gwei.
This means that at the height of GAS prices it could have cost a user ~500 USD to dispute a swap.
This means for the network to ensure losing cross-chain swaps aren’t made each user must deploy at least $200 in collateral on each side. It may be possible to lower this to collateral if we assume the attacker is not financially motivated, however, there is a lower bound in which ransom attacks become possible on low-value trades.
Further and perhaps more damagingly, this means in a trade of any size the user needs to have at least 300 USD in ETH laying around. 100 USD in ETH for the required collateral and 200 USD if they need to challenge the transaction.
This further adds to the poor user experience when using Serum for cross-chain swapping.

5. Swaps Are Not Set and Forget

Instead of being able to send a transaction and receive funds on the blockchain you are swapping to, the process is highly interactive. In the case where I am swapping ETH for Bitcoin, the following occurs:
If the Bitcoin transaction is never received then I need to wait for a timeout to occur before I can participate in the dispute process.
And on the Bitcoin side (assuming the seller is ready), the following must take place:
If the Seller never accepts the Bitcoin I sent to him then I need to wait on line for the dispute process.
This presents a strange user experience where the seller or seller’s wallet must be left online during this whole process and be ready to sign a new transaction if they need to dispute transactions or unlock funds from a smart contract.
This is different from the typical exchange or swapping scenario in which, once your funds are sent you can be assured you will receive the amount you expected in your swap back to you, without any of your wallets needing to remain online.

6. The Serum Token Seems to Lack a Use Case

The cross-chain swapping protocol Serum describes in its whitepaper could easily be forked and launched on the Ethereum blockchain without having any need for the Serum token. It seems that the Serum token will be used in some capacity when placing orders on the Solana based blockchain, however, the order book could just as easily be placed off with traditional rate-limiting schemes.
There is some brief mention of future governance abilities for token holders, however, as a common theme in their whitepaper, details are scarce:
Serum is anticipated to include a limited governance model based on the SRM token. While most of the Serum ecosystem will be immutable, some parameters without large security risks (e.g. future fees) may be modified via a governance vote of SRM tokens.

Conclusion

Until satisfactory answers are given to these questions I would be looking at other projects who are attempting to build platforms for cross-chain swaps. As previously mentioned, Thorchain & Blockswap show some promise in design, whilst there are some others competing in this space too, such as Incognito and RenVM. However, this area is still extremely immature so plenty of testing and time is required before we can call any of these projects a success.
If you’ve got any feedback or thoughts about Serum, cross-chain swapping or DeFi in general, please don’t be shy in leaving a comment.
submitted by Loooong_Loooong_Man to CryptoCurrency [link] [comments]

$1 Trillion Transactions Over 5 Years

$1 Trillion Transactions Over 5 Years
This figure represents the total worth of transactions in the Ethereum network over the course of five years.
According to CoinMetrics, since the day Ethereum went online in July 2015, the total volume transacted through the network has reached $986 billion.
A few facts:
  • In five years the number of unique addresses has risen by 57 times, to more than 523,000 from just 9206;
  • Total profit from ETH mining has exceeded $7 billion. To put it in perspective, the highest profit year was 2018: miners earned $3.75 billion;
  • Ethereum hashrate peaked in 2018 at some 300,000 GH/s (current hashrate is around 200,000 GH/s);
  • Network capacity has been rising since mid-2017 from 90–95% to the current 96%;
  • The total capitalization of stablecoins created on the Ethereum network has exceeded $8 billion in 2020;
  • The Ethereum network is home to an entire decentralized finance ecosystem, which has raised $223 million in venture capital and $577 million in token sales since winter this year.
Another important thing is that Ethereum miners have previously raised the gas limit to 4%, bringing the limit to 12.5 million Gwei.
https://preview.redd.it/a6cs709sjdf51.png?width=1050&format=png&auto=webp&s=50681792b595411548b59d567f8c951a366eedec
submitted by buytexchange to u/buytexchange [link] [comments]

Ethereum GAS continues to remain high, how can we reduce costs?

Ethereum GAS continues to remain high, how can we reduce costs?
On the basis of capacity expansion + diversion, ETX can not only play the role of digital payment, but also serve as a media role for on-chain applications, without being bothered by network congestion.
According to data from etherscan, the transfer fee of Ethereum recently reached a three-year record high of 709 Gwei, and the sky-high GAS have made Ethereum users miserable. Although the DEFI market has gradually cooled down recently and returned to rationality, the average GAS has declined, but it is still as high as 44 Gwei.
Based on the current Ethereum price of $389.52, if you want to send a transfer to the Ethereum network relatively quickly, you will need a transfer fee of about $1.39. Regardless of the amount of money you send, this $1.39 GAS is essential, because the decentralized network is packaged and traded by miners, and the miners choose to give priority to the transactions with more handling fees. They will not include the proportional GAS according to the amount you send.

https://preview.redd.it/kdxobu6jsaf51.png?width=554&format=png&auto=webp&s=3b0d8099c2373512855cd9fd8c5b10b99c2cd704

https://preview.redd.it/jm8tam2ksaf51.png?width=554&format=png&auto=webp&s=10407245f33138aeee91287d0bfb402be65b68ca
What is the reason for the high GAS?

https://preview.redd.it/xltsarghwaf51.png?width=554&format=png&auto=webp&s=382ae444dbb1d4ca204abbb7bea63ca88ba67e40
To understand this, we need to first understand what GAS is:
Every transaction on Ethereum needs to be packaged and confirmed by miners, transaction data also needs to be stored on the Ethereum blockchain, and each block volume has a strict limit. Most miners will choose profit first. When processing transactions, they will rank gas prices from highest to bottom, and give priority to processing those with higher gas prices. If you are in a hurry to trade, you need to increase the gas price so that the miners can see you earlier; If you are not in a hurry, you only need to set a gas price, which is above the bottom line of the gas price set by the miners.
The price of Gas is determined by the miners. If the fuel price is lower than the minimum requirement of the miners, the miners will refuse to process the transaction.
Ethereum's method of obtaining GAS has aggravated network congestion and increased handling fees to a certain extent.
1.DEFI’s recent popularity has largely caused the frequent sending of transactions in Ethereum., which has exacerbated the increase in Gas. Since Compound started ‘liquid mining', many other DEFI projects have been imitating, attracting a large number of econnoisseur to enter arbitrage mining. Frequent transactions, redemptions and other operations have caused the Ethereum network to block.

https://preview.redd.it/19c037qkwaf51.png?width=550&format=png&auto=webp&s=ba4545972ca1f15091d7be285eabee15b4add27c
  1. Additional issuance of stable coins. Someone once ridiculed: "Don’t touch any other token on Ethereum except USDT." Although this is a joke, it affirms the bursting of the ICO bubble to a certain extent. While people no longer have much expectations for tokens, the demand for stablecoins has been increasing.
According to ethgasstation data, USDT has been the largest contributor to gas fees on the Ethereum network in the past 30 days, spending more than 7,000 ETH, more than any other DAPP application.
ETX (Ethereumx·NET) has a unique way to solve problems

https://preview.redd.it/iwgjqeonwaf51.png?width=554&format=png&auto=webp&s=11a0ed16854f4c8e1bdea5efbf9d4309225e7a98
ETX has made a lot of changes on the underlying basis of ETH, and provides its own solution to the problem of network congestion caused by high gas costs.
The first is to increase the block size to 8MB: theoretically a 1MB block can pack about 2000 transactions, then 8MB size can pack about 16000 transactions. According to the ETX Foundation, as the number of transactions grows, it is not ruled out that larger blocks will be adopted through community voting in the future.
The second is shunt diversion: ETX combines the two proof mechanisms of POW+DPoS. After DPOS goes online, DPOS nodes will be used to classify transactions. Ordinary transactions use 99 DPOS nodes to process transactions within seconds; and transactions that require contract interaction are packaged and traded by miners.
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Weekly Wrap: This Week In Chainlink June 27 - July 5

Weekly Wrap: This Week In Chainlink June 27 - July 5
Weekly Wrap: This Week In Chainlink June 27 - July 5

Announcements and Integrations 🎉

Developers can now use Chainlink's Fast Gas/Gwei Price Reference Feed for a decentralized on-chain source of the current fast gas price on Ethereum. Referencing Chainlink's fast gas price at the point of execution ensures users don't overpay for gas.
One of the world’s top cryptocurrency exchanges Huobi Global is making its exchange data available to smart contracts through the Chainlink Network. Additionally, Huobi Wallet is currently running a live Chainlink Node.
Bullionix, a dApp for minting 3D gold-staked NFTs, has successfully integrated Chainlink's XAU/USD Price Reference Feed into their system. This provides Bullionix with a highly reliable & manipulation resistant gold price for tracking the gold market.
Gelato Network, a protocol for automating dApps, is live on mainnet using Chainlink's Fast Gas/Gwei Price Reference Data. Gelato applies the fast gas price at the point of contract maturity, ensuring users pay the fair market price & can control gas costs.
NFT-focused Polyient Games is integrating Chainlink VRF to assure transparency for the minting and random distribution of PGFK rewards—a membership NFT that provides lifetime rewards & perks to holders within the Polyient Games Ecosystem.
Cargo.Build, the all-in-one NFT platform for developers, artists, and collectors, is integrating Chainlink VRF to offer highly scalable white-labeled NFT minting services to enterprise game companies.

Featured Videos & Educational Pieces 🎥

Join the Bancor team and Chainlink for a video Q&A with Nate Hindman (Head of Growth), Asaf Shachaf (Head of Product) of Bancor. The discussion will be centered on Bancor's integration with Chainlink and a deep-dive into Bancor V2.

In our first DeFi series article, we take a deeper look into automated market maker (AMM) based decentralized exchanges (DEX) and how Chainlink oracles are used in @Bancor's V2 release to help resolve the problem of impermanent loss for volatile assets.

Ecosystem & Community Celebrations 👏

Upcoming Events 📅

Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate

SmartContract is hiring to build Chainlink’s network: Check out these open roles 👩‍💼

View all open roles at https://careers.smartcontract.com
submitted by linkedkeenan to Chainlink [link] [comments]

Multicrypte faucet 5 minute for 12 cryptocurrency quite generous Crane accumulative viewing of third-party advertising services, no captcha one many bonuses.

Multicrypte faucet 5 minute for 12 cryptocurrency quite generous Crane accumulative viewing of third-party advertising services, no captcha one many bonuses.
https://preview.redd.it/271toxagi3w41.jpg?width=1775&format=pjpg&auto=webp&s=c13f88f5a27874498e27f9e09308aa8946c4dcd3
https://es.btcnewz.com/auth/register?ref=57a4358732e927fde27a Multicrypte faucet 5 minute for 12 cryptocurrency quite generous
Crane accumulative viewing of third-party advertising services, no captcha one many bonuses.
https://www.youtube.com/watch?v=HqabYA9QSvw&feature=youtu.be PROMO VIDEO
There are mobile applications from the creators including downloading individual APK files to the phone and continue to spend your time.
Minimal for each crypt is different,
For example Bitcoin
Coinbase Minimum: 11000
Wallet Minimum: 80000
Transaction Fee: 30000 (No fees for coinbase withdrawal)
Ethereum (Gwei) gives the most I THINK SO !!!
Refprogram.
For each referral, you and the user whom you indicated will receive 2500 ES-Coin, and you will receive 20% of the amount claimed by the said user.
Your referral bonus and user bonus will be added to your account after the user activates his account from his email.
With ES-Coin levels you can increase your daily income and up to a 100% bonus in a weekly bonus.
The crane has its own ES-Coin crypt, which can be used to pay for the transaction or convert to another crypt within the account (EXCHANGE).
For visiting the site every day is given a 1% mining bonus, up to 100%.
It will take about 9 minutes to click through all the coins.
submitted by Grutttt to faucets [link] [comments]

Bitcoin, Ethereum, Bitcoin Cash and Litecoin are the only top 10 cryptos with less than a billion tokens in circulation...

Fun fact for you guys, every decent token in the top 10 has been pushed to make way for these "low price" coins. It's great to see Ethereum holding its own but this is just sad... I am looking forward to when all of these coins crash after people realize they can't do anything with them.
submitted by FromToKeto to ethtrader [link] [comments]

Bitcoin Gemini Exchange Review 2020

Bitcoin Gemini Exchange Review 2020
If you are planning to place assets into cryptographic types of cash like Bitcoin or Ether, in any case, you do not understand where to start, this Gemini exchange review will help you with choosing.
Gemini Bitcoin Exchange Review 2020
You need yourself to be a productive advanced cash intermediary. By what technique will you become? To help you here's an exchange review, which will give every one of you the low down information required for a powerful enthusiasm for one of the most trusted in stages the Gemini Exchange.
We should find all the more right currently review
Gemini Review :
About Gemini Exchange
Twin kin developed Gemini Winklevoss in the year 2014. The Gemini exchange is arranged in New York. The Gemini crypto exchange is open in essentially all US states, similarly as UK, Canada, Puerto Rico, Singapore, South Korea, and Hong Kong. In 2016, Gemini transformed into the world's recently approved Ether exchange.
It positions 82th greatest exchange on earth as showed by 24-hour volume on Coinmarketcap. While Gemini Bitcoin and Gemini Ethereum trading volumes are high, the exchange is endeavoring with all undertakings to fight with those stages offering a predominant piece of the cryptographic types of cash, for instance, Binance.
Reinforced Currencies
Gemini offers crypto to fiat portions and a BTC/ETH grandstand, which makes it a quick contender to any similarity to Coinbase, Bitstamp, and Kraken. At present, it is one of the most respected and ensure about exchanges open. This is in light of the fact that it has more features to help secure customers against developers. Also, it is one exchange for the CBOE Bitcoin future settlement. Gemini Mobile application is directly available, which is amazingly basic and versatile to use.
How to use Gemini?

https://preview.redd.it/qnowl19fwaj41.jpg?width=720&format=pjpg&auto=webp&s=1819eeac9d4c44681c0afe616d387b60a78f7c8e
1) Go to the official site and snap the "Register" tab on the upper right corner.
Enter your name, email address, and mystery word for your own record. While affirming your email address, it is critical to :
Affirm your email address and enter both your region and phone number, by then you can set up 2-Factor Authentication (2FA) which will be an additional layer of security to your record.
Incorporate your monetary equalization. Starting at now, Gemini recognizes simply bank moves and wires, as a methodology for putting away holds.
To check your record, move your organization ID proof. This will help you with executing and trade US Dollars. Moreover, it will help Gemini with as per the Bank Secrecy Act (BSA) and Anti Money Laundering (AML) rules. The affirmation time may run from a couple to a couple of days.
Subsequent to completing of all the above strategies, you can use your record for financing.
gemini crypto exchange
2) Deposit Currency
In the Menu, click Transfer Funds, by then find a good pace Bank Transfer and Exchange. Enter the whole you have to store here. Moreover, note $500 consistently is the most extraordinary most extreme for Bank moves.
3) Trading Bitcoin and Ethereum
As you store by methods for bank move, they are quickly available for trading. you can purchase by encountering the menu and picking your supported trading pair. For example, for Bitcoin BTC/USD similarly as Ethereum ETH/USD.
In the wake of embeddings the expense and sum it will process your buy demand. There is another choice to trade by methods for the business community which has exhibit orders gave by various customers.
After the fulfillment of your purchase, your record will be acknowledged with your Ethereum just as Bitcoin purchases. You can sell your computerized cash on the Gemini crypto exchange. Regardless of the way that you can't make a withdrawal until your bank move has been completely arranged.
gemini sponsor organization
4)Trading Limits
By and by, For most trade strategies, there are no limitations on trades. In any case, Automated Clearing House (ACH) moves have the greatest store most remote purpose of $500 day and $15,000 consistently for singular record holders. Associations have a state of restriction for making ACH stores of $10,000 consistently or $300,000 consistently.
Gemini Marketplace
There is a Gemini business focus that runs 24*7. Here, you can have indistinguishable number of solicitations from you wish to have, with a variety of trading choices. These include:
Market Orders – With the present best open worth, the solicitations here starting dealing with quickly against resting orders.
Purpose of repression Orders – The sum is filled at or better than a given expense. The sum which isn't dispatched lays on the solicitation book diligently until it is filled or dropped.
Brief or Cancel (IOC) Limit Orders – The sum is filled at or better than a given expense. The sum which isn't filled rapidly is dropped and doesn't lay on the perpetual solicitation book.
Maker or Cancel (MOC) Limit Orders – The sum lays on the solicitation book continually at a foreordained expense. Furthermore, the entire solicitation is dropped if there is any sum that can be filled immediately.
All solicitations made on this stage are totally sponsored and fill in as a full hold exchange. In any case, there is no edge trading Gemini. Despite that, reliably the customer's record equality should have more balance than the exceptional excitement on demand books. Also, all open solicitations decline your available leveling until they are fulfilled or dropped
Gemini Fees
In the event that there ought to be an event of moves, Gemini crypto exchange has a low cost technique and stage customers can store Bitcoin, Ether, at freed from charges for both bank and wire moves. In any case, banks will charge a cost for the customers to wire money to their Gemini account. Withdrawals on the stage are free and all customers will have 30 free withdrawals for each calendar month.
Any withdrawals more than this total will pull in costs comparable to the mining charges payable on either sort out. The costs are around 0.001 BTC or 100,000 Satoshi per trade on the Bitcoin Network and 0 GWei or 0 ETH per trade on the Ethereum Network.
MakeTaker charges
0.25% is the trading costs for both sellers(makers) and buyers(takers). If it shows up at certain trade volumes, charges will be reduced. The maker charge is 0% for 30-day trading volumes that outperform 5,000 Bitcoin or 100,000 Ether. For a comparable trading entirety, the taker run after will bubble to 0.10%.
Gemini uses dynamic maker and taker charge or reimbursement timetable, and sellers can get reimbursement on liquidity-creation trades. The particular entireties depend upon net trading volumes and the buy and sell extent over a multi day time allotment. The data are adjusted as expected and more information on charges can be found here.

https://preview.redd.it/exgucn9gwaj41.png?width=225&format=png&auto=webp&s=34fc66d46df40444abcc9ac61308106b2e3f57c0
charges
Concerning purchases, the base purchase whole for Bitcoin is 0.00001 BTC, or 1000 satoshis, for Ether, the base sum is 0 .001 ETH
Security-at-Gemini
Bitcoin Gemini Reviews, is a strong exchange that has a better than average reputation in everyone. The exchange goes about as a way into the universe of cryptographic cash trading. This may be in light of the fact that various customers first quit concerning purchasing Bitcoin and Ethereum. In comprehension to Coinbase, Gemini has a near space. Wherein it allows its customers to make trade clearly to and from their records.
Gemini is a not too bad choice, for people looking to securely trade either Bitcoin or Ethereum. The exchange is a potential decision for new competitors to the market similarly as logically settled sellers who like to make trades by methods for their monetary adjusts.
Latest News
Dec 17, 2019: Well realized cash related pro association State Street picked Gemini exchange for the new propelled asset pilot adventure.
Nov 19, 2019: Gemini exchange wanders into NFT's and acquired Nifty Gateway Solution, a phase to buy Non-Fungible Tokens.
Nov 14, 2019: The exchange added Stop-Limit to the solicitations being executed on the stage.
Sep 11, 2019: Gemini dispatches Gemini Custody with 18 cryptographic types of cash
Sep 5, 2019: Gemini Clearing™, a totally electronic clearing and settlement answer for off-exchange exhibited by the stage
Aud 27, 2019: Gemini Joins the Silvergate Exchange Network
Aug 22, 2019: Gemini loosens up and reaches to Australia
April 15, 2019: Gemini wallet support Segwit
Gemini Bitcoin Exchange Review
Rundown: How to Buy Bitcoins by means of Gemini
Register a record at Gemini and check email code sent to you.
Set up two-factor validation (2FA).
Give checked ID as a major aspect of the confirmation procedure.
Include ledger.
Store cash by clicking "Move Funds", "Store into Exchange" and afterward picking the sort of bank move.
Snap "Purchase" catch and round out the buy structure to get BTC.
Is Gemini Safe?
Gemini is extremely worried about its clients' wellbeing, in this manner it utilize three arrangements of security...
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Gemini Comparison with Other Exchanget
To exchange bitcoins you have to initially peruse and think about various BTC trades...
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In Which Countries Is Gemini Available?
You can arrange bitcoins through Gemini nearly in any nation, yet discover where you can't...
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Guide: Buying BTCs at Gemini
It is anything but difficult to purchase bitcoins on Gemini trade, knowing the essential standards and prerequisites...
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FAQ
Discover to what extent the exchange takes, how to pull back BTCs and what strategies for...
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Practically equivalent to Bitcoin Exchanges
We have arranged a rundown of trades, notwithstanding Gemini, that can assist you with requesting bitcoins...
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With developing worth and system, bitcoin is ready to turn into the main online resource in the realm of ventures.
Gemini bitcoin trade survey
This article is worried about one of the most well known trades with regards to BTC exchange, Gemini.
What Is Gemini?
Gemini is one of the realized digital money trades that offer an assortment of exchange apparatuses for speculators that have some involvement with the business. The organization that claims the stage is enrolled as LLC in New York State, USA, offering USD to BTC and USD to ETH exchange trade.
Purchase BTC at Gemini
Propelled in 2015, Gemini offers two unmistakable commercial centers, them being:
customary trade administrations;
bitcoin barters.
Upon its appearance, the stage offered its administrations in the US just, bit by bit including different nations all the while. The organization is possessed by the Winklevoss twins, who guarantee that they are have about 1% of the complete BTC volume.
Winklevoss siblings are Gemini's proprietors
Gemini Security
With regards to the wellbeing of your assets, Gemini applies three arrangements of safety efforts that should be referenced. To start with, the stage applies advanced money safety efforts by offering hot and cold stockpiling wallets, where cold wallets have multisig capacities to forestall hacking endeavors at your equalizations.
Gemini security
The subsequent measure is identified with the exchange where the entirety of the exchanges at Gemini are led through pre-financed accounts, implying that merchants and purchasers can't post orders on the off chance that they don't have adequate BTC or fiat monetary forms in their parities. Finally, the site security comprises of two-factor verification (2FA) and HTTP encryption of all data in regards to merchants and stage's exchanges from outsiders.
Accessible Payment Methods
As of now, Gemini acknowledges stores communicated distinctly in ACH (for US dealers) and wire moves (for every other person) communicated in USD. Credit or check cards, money stores, PayPal and numerous different alternatives are wanted to be remembered for the future however are not accessible at the present time.
Buy bitcoin by means of wire move
You ought to buy in to the Gemini news source since the organization will promote the new store strategy through that channel of correspondence.
Shouldn't something be said about Fees?
While saving or pulling back your assets communicated in fiat or computerized monetary forms, dealers would find that the administrations are done totally free. Then again, Gemini charges exchange expenses are charged dependent on a month to month net exchange volume. Taker charges can extend from 0.15% to 0.25% while creator expenses from 0% to 0.25%.
Expenses at the trade
Does Gemini Have Limits?
Cryptographic money and wire stores and withdrawals don't have any constraints forced on dealers, implying that in the event that you utilize the said administrations, you can buy, sell and pull back bitcoins with no deterrents. Singular American financial specialists utilizing ACH move, then again, have $500 every day and $15.000 month to month while institutional individuals have $10.000 day by day and $300.000 month to month store limits.
No restrictions for purchasing bitcoin
Gemini Comparison
When thinking about exchanging at any trade, you should hope to analyze the administrations, expenses and impediments with other comparative stages. In this manner, we have assembled an examination investigation where we benchmarked Gemini against two other well known decisions with regards to BTC buy: Kraken and Coinbase.
Gemini versus Kraken
Kraken, much the same as Gemini, acknowledges bank moves just, with the significant contrast being that Kraken permits 5 fiat cash stores. Notwithstanding bitcoin, there are 14 more altcoins that you can exchange with at Kraken while the two trades force check on their customers as they are both controlled organizations.
Gemini versus Kraken
Kraken is fundamentally the same as Gemini as far as expenses, as creatotaker charges go somewhere in the range of 0% and 0.26%. Bank moves do accompany little expenses at Kraken while Gemini acknowledges stores for nothing. In conclusion, while Gemini exchanges two or three nations in particular, Kraken is all around accessible.
Coinbase versus Gemini
Coinbase is viewed as one of the biggest bitcoin suppliers on the planet, offering its administrations in 32 nations, USA notwithstanding. The installment strategies at Coinbase are PayPal, bank moves and credit/check cards, two more than Gemini.
Request bitcoins by means of Coinbase trade
Confirmation is an absolute necessity have at Coinbase, much like in Gemini while expenses are a ton lower at Gemini, as you pay between 1.49% to 3.49% from exchange's an incentive at Coinbase. The two trades offer BTC vaults and wallet administrations while Coinbase additionally exchanges with Litecoin which are inaccessible at Gemini.
Gemini BTC Exchange in Different Countries
Gemini's administrations are accessible in a bunch of nations around the globe, them being the US (5 states not upheld), Canada, Japan, South Korea, Hong Kong, Singapore and the United Kingdom. The five US expresses that are not bolstered are Alaska, Arizona, Hawaii, Oregon and Wisconsin.
Gemini trade in various nations
Is It Legal?
Gemini is an American LLC that adheres to New York Banking Law guidelines, actualizing BSA (Bank Secrecy Act) and AML (Anti-Money Laundry Compliance Program) arrangements, implying that customary reviews of the BSA/AML programs are being executed. Moreover, the firm requires all merchants to have reserves pre-saved before the exchange.
Bitcoin Gemini Price, is legitimate
Another significant factor of the stage's lawfulness is the way that since its beginning, Gemini has promptly accessible money related report dating 7 years back.
Does Gemini Support Its Customers?
Concerning the client service, Gemini has a thorough FAQ page where a large portion of the exchanging questions have been replied. Notwithstanding the FAQ, you can likewise top off a shape and present a solicitation to the Gemini group with respect to any issue that you may look on the stage.
Gemini client service
Because of the regular upkeep of the site's administrations, Gemini has a "Status" page where financial specialists can see which administrations and API instruments are working right now and which are definitely not.
Manual for Buy Bitcoins from Gemini
When you have gotten the cash at your Gemini account, click "Purchase" button on the dashboard page.
Buy page for bitcoins at Gemini
Presently, round out the structure on the right, giving request type, volume or estimation of BTC you wish to get and click "Purchase" to get bitcoins in your record immediately. Try to check the BTC cost at the upper left piece of the "Purchase" page to ensure it has not changed at the time you have begun the buy procedure.
Enrollment
It is totally allowed to enroll a record at Gemini bitcoin trade and the procedure begins once you click "Register" button at the upper right corner of the site. Give your complete name, email address and secret key in subsequent stage and snap "Make My Account".
Make account at Gemini
You will get an email code which you should duplicate glue into the Gemini's check page.
Contribution of enactment code on Bitcoin Gemini Registration
The accompanying advances will open up for you to finish, in this way you have to arrangement your 2FA security apparatus, include a financial balance and give checked ID to finish the enrollment methodology.
To what extent Should I Wait for Verification?
Check stage can take between an hour and a day, contingent upon various enlistment applications Gemini has right now you have begun the procedure. You ought to set up every single essential report before you start and arm yourself with persistence as a stage would set aside effort to process your data.
Confirmation process at Gemini
Would you be able to Get Bitcoins Without Verification?
At the enlistment page, you are required to check your personality and frog your financial balance. When you have presented the records, you can't enter the stage's exchange page until the help affirms your subtleties. In this way, it is unimaginable to expect to buy supply of bitcoins without confirmation.
Obligatory confirmation before purchasing BTCs at Gemini
How to Add Money to Account?
When you have finished the enrollment and confirmation of your record, click button "Move Funds", situated in the top segment of your dashboard page. In following stage, click "Store Into Exchange" and pick either USD or Wire alternative, contingent upon what financial balance you have included at enrollment stage.
Add assets to Gemini account
You can likewise store bitcoins in your Gemini wallet too.
Store BTCs in the Gemini wallet
At the last phase of wire move subsidizing process, you have to give bank's wiring data, for example, your record number and other significant data that can be found by clicking "Bank Settings".
Give bank's wiring data
When data has been given, basically click "Store" button which will show up at the base of the page.
Secure Your Account
Keep the entirety of your record and wallet passwords out of the programmer's compass by continually evolving them. Monitor the new secret key by keeping in touch with them down on a bit of paper as to not overlook them meanwhile.
Record with 2FA on trade
You as of now have 2FA from the enlistment stage and don't give your private data to some other dealer on the stage.
FAQ
To what extent Does It Take to Make Transaction?
It takes 4 to 5 days to store assets in your Gemini account while exchanges themselves are done following you the exchange started. Diverse request types have distinctive length, contingent upon what dealer wishes to accomplish.
Sitting tight for exchanges on the trade
Would i be able to Buy Bitcoin with PayPal at Gemini?
Now, brokers can't utilize PayPal as store technique at Gemini. You ought to buy in to the trade's news channel as to get warnings if the strategy opens up to store alternative later on.
Does Gemini Have a BTC Wallet?
The stage offers two kinds of wallet administrations, one being "hot" wallet and another being vault stockpiling. Both are based just, with the principle contrast being that vault stockpiling gives extra security keys that are utilized while moving bitcoins all through the wallet. Along these lines, vault administrations are esteemed as more secure than the standard BTC wallet.
Gemini wallet
Pulling back Your Bitcoins from Gemini
At the dashboard page, click "Move Funds" and afterward "Pull back From Exchange" to begin the procedure. Pick bitcoins to continue towards the withdrawal structure. Determine the measure of BTC you with to escape the trade and give your wallet address. Snap "Survey Withdrawal" and check the data. When you are fulfilled, click "Affirm" to end the procedure. Your coins will show up inside 24 hours to your ideal area.
Pull back BTC from Gemini
Instructions to Order BTC with Credit/Debit Card at Gemini
As with PayPal, it is preposterous to expect to buy bitcoins with the assistance of credit or charge cards at Gemini, since the choice isn't accessible right now. Stay aware of trade's news and declarations as the CC/DC choice may open up later on.
Gemini Mobile App
Portable stages are yet to be created by Gemini, implying that exchange is accessible on perusing stage as it were. Watch out for the declaration, as the organization may make the push towards telephone exchange not so distant future.
Purchase BTC just on Gemini perusing stage
Gemini Analogs
Aside from Gemini, we at BitcoinBestBuy have checked on numerous different stages that can assist you with getting bitcoins effectively and securely. They all change regarding local accessibility, expenses, buy strategies and confirmation necessities, so make a point to check different articles also.
Get BTC at digital money stages
Coinbase Exchange Review
Being one of the biggest BTC exchanging stages the world, we made a survey of their charges, store choices and other important data with respect to the trade. We have likewise given bit by bit controls on the best way to buy and pull back assets and coins from Coinbase.
Coinbase survey
Full Review Coinbase Bitcoin Gemini Exchange
Find out About Kraken
Kraken is another trade that offers bitcoins through bank moves and its administrations are all inclusive accessible. We made a survey of Kraken's advantages and disadvantages, giving our customers a diagram of the trade as far as expenses the organization charges, check prerequisites and buy procedures of the stage.
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submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Survivors of market disasters: In this disaster, some people actually made money

There is no need to repeat the tragic market. Various historical figures are present, and they all reveal a signal: this disaster is like an earthquake with no warning signs. The victims are everywhere, and the survival is a fluke.
But in this disaster, there are still people who make money.
If you still have the impression, on August 23 of last year, there was a problem with Amazon AWS 'server in Japan, which caused the products using the region's services to be affected to varying degrees, including the cryptocurrency trading platform. After discovering a problem with Binance using AWS, the user's deposit and withdrawal were suspended, but the trading platform using the Binance Quotation API failed to take timely measures, resulting in loopholes in market makers' strategies.
That day, while Bitcoin was still steadily maintained at 10,000 USD, some users bought Bitcoin at a unit price of 0.32 USD, and when there was almost no fluctuation in the market, they used the mistake of the server to add western food for the night. A bottle of champagne.
In this disaster after 5 months, some people still use the environment to find a way to survive.
Ethereum 0 dollar purchase?
A $ 0 purchase of Ethereum happened on March 13. The market plummeted, many mortgagors' positions were exploded, and ETH fell from $ 180 to less than $ 100 without resistance. The decentralized Defi market that depends on the value of ETH is naturally not immune, such as the MakerDAO platform. MakerDAO's borrowing logic is that users over-collateralize ETH to lend USD stablecoin DAI, but when the value of ETH fell rapidly, a large number of loans fell below the threshold and the system had to be liquidated. In other words, the user's loan was not repaid. Mortgage of ETH is also not available.
So MakerDAO has a bad debt, the amount exceeds USD 4 million. In order to repay this bad debt, MakerDAO chooses to auction the collateral, that is, ETH, BAT, etc., and uses the stable currency DAI to bid. They need to use the auction proceeds to obtain repay loan.
Under normal circumstances, such auctions are not too accidental. The feeding system reports the current price of ETH, and the bidders will probably trade at a price slightly lower than the market price.
However, the background of this auction is the market's plunge. The transaction caused investors to intensive operations, which blocked the Ethereum network. It takes far more than usual gas fees to allow the miners to confirm the transfer as soon as possible.
According to the browser, on the morning of the 13th, if only 44 gwei is used, the transfer confirmation time on the Ethereum network will take 72958 seconds, which is 20 hours.
The MakerDAO debt auction on the Ethereum network has also been affected. The blockage of the network has prevented bidders with low gas costs from bidding in time, which caused participants to bid 0 DAI / ETH to drop the hammer.
It can also be seen from the transaction records that the auction of 0 DAI was indeed successful. These lucky bidders only paid a transfer fee of US $ 1 and transferred 0 amount to obtain an ETH worth US $ 122 at the time.
These people are undoubtedly fortunate. The external environment helped them to become the only game participants. The exchange of $ 1 for $ 120 and a profit of 11900% was much higher than the odds of players who risked bottom-swinging in fluctuations.
However, from another perspective, MakerDAO's auction is to use the DAI obtained from the auction to pay off debts. However, due to network congestion, this situation has caused several free gifts, and MakerDAO's debt repayment is even worse.
Pick up goods by luck
If it is said that MakerDAO launches the auction, it is a helpless action of the team under extreme conditions. Bidders still need a bit of technical barriers to participate, but there is nothing to worry about, and there is almost no difficulty and cost.
On the evening of March 12, investors discovered that the LINK / USDT trading pair of the Binance trading platform experienced a short-term flash collapse and once fell to the bottom 0.0001 USD. What's going on?
Twitter netizens then asked Zhao Changpeng about the matter, and the latter's response was a shock. It turned out that someone had already launched the LINK trading pair as early as Binance, that is, on January 16 last year, a low was hung within 8 seconds after the real-time trading was opened. Price list, but it has not been closed because no fool will sell it at this price.
Unexpectedly, more than a year later, this pending order was sold "strangely". "At that time we had no price range restrictions. We will not cancel user orders." Zhao Changpeng said that the platform will not deny this order because the operation is completely reasonable.
It will not be rolled back for various reasons. In other words, even if LINK has experienced a large decline recently, at the current price of 2.3 US dollars, the profit of this transaction will exceed 2 million US dollars. US dollars, then he instantly won nearly 5 million US dollars.
The cost of 100 dollars, the income of 2.4 million dollars, a real profit.
In fact, similar examples of this kind of luck are not rare in the crypto industry. Except for Binance and the previous examples, BitMex and OKEx have also experienced similar situations, and more than once.
For example, on December 6, 2017, Binance's XRP / BTC trading pair experienced a breakdown of the list. In a very short period of time, the XRP price was oversold to 0.0000002 BTC, which is basically negligible. On January 29, 2018, the price of the ADA contract on BitMEX also fell to 0.00000005 US dollars, which was also nearly 0; another trading platform, OKEx, also saw a large amount of 0.002 USD on January 14, 2018. Case, according to the official statement at that time, "a certain trader" quickly sold a large amount of ETH through market orders within 12 minutes. Interestingly, at the time, some people analyzed that "a certain trader" was actually an official market-making robot, and "a large amount" of 100 million Ethereum was eventually sold for 20 dollars.
However, for ordinary people, if you want to encounter this kind of opportunity for leak detection, unless you are bored and place an order in advance, such a price is fleeting, and you ca n’t seize the opportunity simply by hand speed. In fact, at present, many trading platforms have actually adopted corresponding price amplitude filters, which specify the maximum / minimum price range of pending order prices. Oolong trading is very rare. Even if luck hits and catches up, it is very likely that the platform will intervene and the transaction will be rolled back. This situation has not happened before.
Only this time, the trader who had placed an order on Binance for more than a year, even if he successfully leaked and successfully withdrew the coin, it can only be said that he hit the Grand Canal.
Safe moving of bricks
Buying a certain kind of token on a crypto trading platform, and then selling the token to another trading platform, earning the price difference is a moving brick in the crypto circle. Moving bricks has been an arbitrage behavior since the birth of the transaction. It belongs to a very old business. Arthur, the founder of BitMex, who now operates a trading platform, and Xu Mingxing of OKEx, were once members of the army of moving bricks. . This kind of brick moving was the most prosperous at the end of 2017. At that time, trading platforms such as Bithumb in South Korea also called the "Kimchi premium" due to the price difference between other platforms. Moving bricks is a kind of risk-free arbitrage. Players use energy to gain profits, although the single profit is not much. However, with the maturity of trading robots and quantitative trading teams, the spread of tokens between multiple regions or platforms is often wiped out in a matter of seconds. Therefore, the profit margin of manually moving bricks is now very small.
Of course, it is not to say that there is no opportunity. Such an opportunity to make money is indeed hidden under the volatile market.
"Buy at a low price and sell at a high price, this is simply the most secure way to make money in a plunging market!" Investors are excited about cryptography. Starting at 6:30 pm on March 12, cryptocurrencies have experienced sharp fluctuations, while Binance and Huobi When the bitcoin spread between the three trading platforms and OKEx was the largest, it even reached more than 700 US dollars. The discerning player quickly discovered the opportunity, "For half an hour, I made more than 10,000 with a principal of 20,000 yuan. Such an opportunity is usually not available."
Buy and sell orders executed by the above investors at almost the same time, with a spread of nearly $ 450
When it comes to moving bricks, time is money. It is definitely too late to shuttle between multiple trading platforms. Many investors have now transferred the "battlefield" to the platform that focuses on aggregated trading. "The aggregated trading platform integrates the depth of multiple platforms. As long as there is a price difference between supported platforms, users only use One account can be bought and sold on multiple platforms, and it can be operated in a few seconds. "Wu Ling, who seized the opportunity from the extreme market in these two days, made nearly 50,000 by moving bricks in just a few hours. Yuan, the principal is no more than tens of thousands of yuan.
It is understood that there are already multiple platforms targeting the aggregate trading business on the market, and the opportunity to move bricks does not often appear, unless similar to the extreme market appearing in the past few days, or some unique tokens, there may be soaring and plunging. Opportunities, as a whole, are not met a few times a year, and they are fleeting.
However, whether it is MakerDAO auctions, ultra-low-priced pending order transactions, or arbitrage moving bricks under the new situation, these opportunities to make money are actually small probability and cannot be used as conventional investment methods.
These seemingly easy profits are in the end a few people. Many people are trapped in extreme quotes in stuns. Most investors have no assets left on the trading platform overnight.
Maybe this also makes many investors lose confidence in the industry, but in fact, in the face of such a market, after finishing our mood, we are more learning from changes.
Learn the reasons for this disaster, learn the logic of the main control panel, learn what signals were ignored before the disaster, and prepare for the next time. At the same time, we can also see the development of the industry. For example, when all centralized trading platforms are down, DEX can still be implemented despite various problems.
I hope that everyone still has confidence in the blockchain and cryptocurrency industries. Finally, I would like to remind everyone that the recent market changes are unpredictable. Please pay attention to risks and exercise caution.
submitted by FmzQuant to u/FmzQuant [link] [comments]

Withdraw issue

Hi there,
my ETH withdrawal is pending for now 4 hours.... Srsly... The network is not at all overloaded as I withdrew from Binance at the same time and it went through in 10 minutes...
ETH 3.06115 Withdrawal... Please approve it...
EDIT: I think found the solution, just email the support and within 5 minutes the TX Hash will be processed. It is like magic and worked two times in a row (After having waited hours....)... Maybe they are just waiting for people to send them an email request... I dunno...
submitted by MsTkL86 to kucoin [link] [comments]

The Ethereum Rich List - the Whale Awakens!

When referencing prices and circulation numbers, I will be using a price $118.50/ETH and a circulating supply of 103,545,034 ETH (as reported by Etherscan.io for Dec. 1, 2018), unless otherwise stated.
 
TL;DR The big ol' Ethereum whale (affectionately nicknamed "Big Blue") is still holding onto at least 98.79% of their ether
 
 
The Ethereum Rich List - the Whale Awakens!
As was recently pointed out by u/CL20, the largest identifiable Ethereum whale (who at their peak controlled at minimum 4,556,298 ETH) came alive late last year. However, the whale has not "dumped most of it on the open market in the past few hundred days."
 
Let's dig a little deeper into the available data (I'll admit I'm no Chainalysis though :)
 
Before the beginning of December 2018, the three addresses below held ~4.4% of the circulating supply. They began filling up with ether on August 20, 2016 and continued to add very large sums of ether until spring of 2017. They had hundreds of IN transactions and zero OUT transactions before December 2018.
Previous balances:
  1. 1,538,423 ETH
  2. 1,510,065 ETH
  3. 1,507,810 ETH
 
On or around December 1, 2018 (depending on time zone), all three of those addresses were emptied, completely.
They were emptied in a single transaction each, with no test transactions (the balls on them!), within a ~2 hour window.
(To make those three initial OUT transactions, it cost them just 0.00126 ETH to move $539,921,313 worth of ETH. That's 15 cents to move over half a billon dollars!)
 
After the three initial OUT transactions from the OG wallets, the ether was first distributed into hundreds of temporary "gap" addresses that contain just a single IN and OUT transaction (Example). Following the quick stop in those secondary wallets, some of the ETH continued to bounce through dozens of addresses, at which point the traceability becomes impossible (for a mere mortal). But the vast majority of the ether, after making a single pit stop in a gap address, found its way into addresses that are built up into sums of 150,000 ether, which is where they remain untouched to this day (with zero OUT transactions) (Example).
 
Taking a closer look at each of the 3 original addresses we see that:
  1. Wallet 1: At minimum 1,500,937 ether (97.56%) was sent to addresses that were eventually grouped into "cold wallet" chunks of 150,000 ether per address. That leaves a remainder of AT MOST 37,486 ETH that could possibly have touched an exchange.
  2. Wallet 2: At minimum 1,500,381 ether (99.35%) was sent to addresses that were eventually grouped into "cold wallet" chunks of 150,000 ether per address. That leaves a remainder of AT MOST 9,684 ETH that could possibly have touched an exchange.
  3. Wallet 3: At minimum 1,500,000 ether (99.48%) was sent to addresses that were eventually grouped into "cold wallet" chunks of 150,000 ether per address. That leaves a remainder of AT MOST 7,810 ETH that could possibly have touched an exchange.
Combining the three amounts, we can see that from the total 4,556,298 ETH, a minimum of 4,501,318 ETH (98.79%) has just been relocated to new "cold storage" addresses
 
So, what has been going on with the other ~1.21% of the ETH? A lot, to put it simply. However the traceability becomes literally impossible (without more data points). If you follow the rabbit hole down far enough you'll find addresses interacting with dozens of ERC-20 token contracts including 0x, Augur, BAT, DAI, TenX, Populous, USD Coin, and WETH, among others.
You'll also see IN and OUT transactions related to exchanges and protocols including AirSwap, Binance, Bitfinex, Gemini, Kraken, KuCoin, Kyber, OKex, Poloniex, Uniswap.
I would say it's fairly unlikely that the whale is responsible for the majority of these transactions. But one can't really say with any amount of confidence which individual(s) control that ~1.21%.
 
Things we (maybe?) learned from the Great Whale Awakening:
  1. The ether is obviously not lost/burned/inaccessible.
  2. Could still be an exchange's cold wallets, which might make sense since the price of ether correspondingly "bottomed out" 5 days later on December 6, 2018 (at $83.47). Perhaps the brutal bear market "forced" the exchange to sell some of their ETH to cover some expense.
  3. The whale was meticulous when creating the new "cold wallets," down to the very gwei. In each of their transactions from the secondary addresses they made sure to include the exact amount of extra ETH that they needed to cover each transaction fee, so that in the end they were left with a nice, round number (ex. 37,500.00000000000000) and nothing left in the gap address. This behavior could be indicative of how an exchange would act.
  4. The whale appears to still be in control of at least 98.79% of their original ETH balance.
 
(See my original post from March 2018 here)
submitted by GetYourAssToPluto to ethtrader [link] [comments]

Which wallets can I use for storing my PRLs?

submitted by MurathanBagdat to Oyster [link] [comments]

Day 2 sold out in 11 minutes

I learned my lesson. 101 Gwei is not enough to get in on these fast sales! Transaction still pending after 10 minutes and 47 seconds.
submitted by ecafyelims to 0xProject [link] [comments]

January 2020 Newsletter

January 2020 Newsletter
Our Token Presale officially launched on January 6th, but it has been open to the public since January 1st, and we are pleased to report that Phase One is already sold out. We are now just over midway through Phase Two (see chart A below).

https://preview.redd.it/srqxv82mrsc41.png?width=975&format=png&auto=webp&s=b30a98d8f405e285bdf2528190e0f6731f973b13
Note that while the Presale is open to the public, the ICO & IEO phases will be void where prohibited (USA, China, S Korea, etc). In addition, the Presale offers a substantial discount to the future set price of ICO/IEO offerings.
December activity
Over the December holidays, we were very active:
· Created customized coding for Token
· Launched the 1X2T (Token) blockchain, as an ERC-20 Ethereum platform token
· Created Telegram channels for Newsfeed and General Community
· Created a marketing team
· Active coordination with hosting partners and advertisers, in preparation of ICO
(see links at bottom, for more info)
ERC-20 Specs
For the tech geeks out there, here is a quick rundown on the ERC-20 alterations, and the pseudo PoS nature of the 1X2T token.
The Token acts much like a PoS (proof of stake) product, with a layered ROI%, depending on amount held in whitelisted wallets (see chart B below).
Our 1X2Dev has customized the general ERC-20 contract, to allow us specialized operations that are not normally available. He created 10 bots and 4 node helpers to handle customized functions:
· Single send, mass batch transactions. These allow payment of daily staking rewards to multiple addresses with a single gas (gwei) fee
· Variable ROI%, automated staking rewards, based on amount of Token held
· Automated separation of whitelisted Token addresses (eligible for staking rewards) and regular Token addresses (ineligible for staking rewards)
This last feature allows us to create added incentive for holding the Token, while removing unwanted inflation from Tokens held on exchanges and non-whitelisted wallets (see chart B below).
https://preview.redd.it/is5ltb6orsc41.png?width=413&format=png&auto=webp&s=3e6e97b719cf8bd013b3df350208e4aacae88c5b
For those seeking more information on this and more detail on whitelisting, consult our Medium article, that explains all in more detail:
https://medium.com/@1x2token/1x2t-token-launch-announcement-1349e6733101
For 1X2 Coin holders
Due to the overwhelming success of the added MNs, and in consideration that many people were not able to capitalize on the free tokens due to the holidays (out of town, buying gifts, etc), we have extended our 3:1 token rewards for all new Masternodes created in the month of January. Simply fill out the 2nd form that 1X2Mod has provided. In addition, for any high rollers that are adding 10 or more MNs, DM 1X2Dev personally, and he will put a VIP rush on those.
For those of you unfamiliar with the 1X2 coin and this offering, visit: https://discord.gg/tgYAdS and go to announcements channel for details.
Further Information
For more information on the Token sale, contact our team who can answer any specific questions here:
Telegram: https://t.me/Token_1x2_invite
Discord: https://discord.gg/3G68ZX
Twitter: u/1x2Token
Other useful info & links:
Etherscan Token ID: 0x933326d0E0A31C9ad9D6709E59282ddDEBe2E8E4
1X2 Website: https://1x2coin.net/
Masternodes.online: https://masternodes.online/currencies/1X2/
CoinMarketCap: https://coinmarketcap.com/currencies/1x2-coin/
CoinGecko: https://www.coingecko.com/en/coins/1x2-coin
1X2 Sportsbook: https://1x2coinsportsbook.com/line
1X2 Casino: https://games.1x2coin.net/
submitted by 1X2T to u/1X2T [link] [comments]

Question regarding buying and selling back into ETH.

So, im a total newb and trying to make sense of if i am winning or losing money by buying and selling, with alt coins and ETH.
Lets say i have VEN, and its gone up 5% since i bought it. so i want to sell it. but at the same time, ETH has gone up 9% since that time. Does that mean, i am buying ETH at a higher price, so my ROI from the VEN is actually a loss?
Would love to hear anyone strategy in this game.
submitted by blackbearbutt82 to CryptoCurrency [link] [comments]

Send ENJ from MEW to Binance

I keep trying to send my ENJ to Binance, but I get an error message saying:
"Insufficient Funds: The Account you tried to send transaction from does not have enough funds"
Help/explain please.
submitted by lumber-- to EnjinCoin [link] [comments]

Will NANO be too little too late - or is it just what it needs to be.

This is not FUD before I start, just something that has been going through my mind as someone who has been invested since the days of RaiBlocks, and believed in NANO enough to passed a fair amount of purchasing time on BitGrail (fortunately without loss) and is in no way angry about the current state of the market. So ...profits and price aside, I want to talk about the actual adoption of NANO.
In the early stages of the 2017 rush the concept of black-lattice and instant fee-less transactions was such a strong selling point for a coin at a time when both the Bitcoin and Ethereum networks were starting to lag, pre-lightning and with so many coins and so many promises, what we were being given by the NANO team was strong, and regardless of technical hiccups with exchange wallets and the BG fiasco, it was easy to look past that and see the strengths of the company.
The problem is, that as we start to look at the longevity of projects in 2018 and double down on strong investments with a future and discard those that we feel may not make it through the next few years, I ask myself if NANO will offer something that other coins will not.
"It's instant and fee-less" we shout ay any doubters, ...so let's just look at those two points a moment.
INSTANT - How important is Instant. I deposited NANO on Binance the other day and it took ages to show up like 3 hours of ages. This is not the fault of NANO, this is the way Binance receives the funds in a pool then separates them out ...well, that is what I gathered by following the trail ...did I care, no, took 3 hours.
Paying with my Visa card is Instant ...still takes 3 days for the funds to actually show as having left my account ...hasn't stopped mass adoption, why? Simple, the merchant is 'guaranteed payment within 10 seconds and that is all you need.
You see, a BTC transaction may as we know take from 10-30 mins on a good day, but that does not stop it being the most popular "accepted here" coin, why? because it is the one owned by the greater majority ...AND most importantly, the moment you send that transaction the receiver knows that although it might take 30 mins to arrive in their wallet, it is on it's way, the funds were there to be sent and not you or anyone else (with the exception of a cataclysmic solar flare scenario) can stop it.
So is INSTANT that important ...it is cool, ..3o minutes is not, but a coin that can do it in 5 seconds (Stellar Lumens) or anything under a minute (insert your favourite coin here) covers those bases.
FEE-LESS - Ok, when looking at BTC fees, or the annoyance of GWEI, GAS or any other coin that might mean upon trying to make a transaction you are told you cannot because you do not have enough of the asset required to perform the action ...this is not something that will score many points in the global currency race ...but are we really convinced that NANO is the only coin to be able to achieve this. IOTA of course already does and whilst it is not marketing itself in any way along these lines, I do not doubt others will come along (a high chance they may even be forks of NANO) that do all that NANO offers and a lot more. As users, do we really care so much if an awesome and all powerful coin, eco-system or network comes along that again like Stellar (not a shill, just a continual useful example) has a very small nominal fee that you really don't feel ...will NANO continue to be alone in this space.
Where that leaves me is that last week I sold a huge chunk of my NANO holdings for one specific purpose, to watch the market drop and buy back in and increase my holdings ...my instinct was correct, and although I feel I could wait even longer for greater gains, I have surpassed by 10-15% marker, and now at over 20% gains common sense overrules greed and it is time to get back ....but as I am about to do so, ...I question for the first time as we sail through Q3 2018, if by Q3 2019 (when I personally think price and adoption will start to move significantly forwards again) if we at NANO will be offering enough unique selling points to the market to ride that wave.
I watched an advert for Crypterium today (not linking to it because I can save you the time - another promise if instant sending of crypto to friends even who have no wallet - but the experienced can see through it in an instant for what it is - DYOR) ...and whilst I cringed, I also knew deep down that it will be offerings like this (albeit with better marketing departments) which will make Average Joe take the plunge ....and will he care about how the NANO boys weathered FUD, BG, the market of 2018, were the first to be fee-less ..etc. etc. ...of course not, he will not give a sh*t.
So ...my faithful fellow NANites ...do not do what the people at REQ did earlier in the year when I made a similar post to discuss the future of their coin (they told me if I didn't like it I could p*ss off because I was wrong and knew nothing and probably got burned - I hadn't, I did sell however and took profits, and have resisted the temptation to go back and say hi recently) - instead tell me why you think we have a fighting chance over the next couple of years or DISCUSS (courteously and with respect of the opinions of others please) if these thoughts I express had not also crossed your minds.
submitted by mogmachine to nanocurrency [link] [comments]

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