https://www.asktraders.com/learn-to-trade/crypto-trading/bitcoin-for-beginners/
Monday, October 14, 2019
Interview with Luxcore
https://i.redd.it/xqiyqnj54is31.jpg
Welcome everyone,
Today we had the chance to interview a member of the Luxcore team for their two year anniversary, Luxcore is a project in the crypto space with some very interesting innovative features.
For all the new readers, let me start by briefly introducing ForAllCrypto. ForAllCrypto was founded almost a year ago. Our goal is to be the industry leader in E-learning regarding cryptocurrencies. We’ve written a book about all the aspects that come to mind when you want to get started on trading cryptocurrencies. The book has already been released in 2 languages is scheduled to release in more languages in the near future. We’re also currently working on two other projects, one of them being a video-course on trading cryptocurrencies. The video course will teach you about the subjects you need to know when you start trading cryptocurrencies. We help our members with learning about paying taxes in cryptocurrency all the way to making technical analyses. The second project we are working on is a collaboration with a well-known European crypto exchange, which will allow a user to buy crypto or commodities like gold and silver on a predetermined date and time every week or month. Our main goal is to let people set up their own savings plans in crypto or a chosen commodity so that they can set up their own retirement plan.
LuxCore, the company behind the LuxCoin cryptocurrency and their groundbreaking PHI2 algorithm, with their everlasting focus on innovation will soon make the transition to a new revolutionary algorithm, called RX2 (a RandomX derivative). LuxCore continues to make steps towards worldwide adoption with its Proof of Stake Web Wallet and with products like LuxGate and LuxEdge right around the corner they’re well on their way to build an entire ecosystem. But what is LuxCore, and what are these products?
First of all, thank you for taking the time to do this interview with me, Jorik. Could you tell us a bit more about LuxCore, when was it founded and what is the main goal that is driving LuxCore?
No problem, I’m just as excited as you are talking about crypto and Lux in particular. I have to say when first getting in touch with ForAllCrypto I wasn’t exactly sure what it is you guys are doing. The E-learning book sounds like a great way for people to get more familiar with cryptocurrencies and the trading aspect of it. If you don’t mind, I'd also like to know more about the retirement plan in crypto but let’s do that after the interview. So let me answer your first question. LuxCore was founded exactly 2 years ago today, with a focus on designing and building enterprise ready security and privacy products.
Why did LuxCore choose for a combination of PoS and PoW? What are the advantages of this integration?
Up until this very day, the crypto community still hasn’t decided what the best consensus mechanism out there is. Proof of Work has an amazing track record of being immutable but has a colossal ecological footprint and often centralizes around ASIC mining farms. Proof of Stake is relatively new but tackles the ecological footprint and is much more accessible for your everyday user, but doesn’t have the long history of being immutable yet. We’ve decided to take the best of both worlds. We’ve been industry leading with our PoW algorithms and are soon to revolutionize the industry even further with the introduction of our RX2 algorithm. This hybrid form of PoS and PoW allows the more casual users to also contribute to the decentralization of the chain.
I’ve heard a lot about the up and coming algorithm, RX2. Can you tell me what the fuss is all about, what makes RX2 so special?
In order to fully understand what makes RX2 so special we’d have to dive deeper into ASIC mining. ASIC, short for “application-specific integrated circuit”, miners boast an integrated circuit customized for a very specific use - mining. These miners have improved energy efficiency, cost and performance. With volatility and increased hash rates, 2017 and 2018 saw the market decide upon two clear forerunners: Bitfury and Bitmain. With several mining companies controlling high percentages of computational power on the Bitcoin network, threats to the network’s immutability and decentralization grew all too real. RX2 is designed for ASIC resistance and acts as a safeguard against this specialized mining hardware by its simulation of virtual CPU. The general-purpose CPU optimization enables more participants to secure the network, as they no longer need the purchase specialized mining hardware. This will result in a more egalitarian distribution of block rewards which, with our hybrid consensus model, increases decentralization of the chain.
It looks like LuxCore values the decentralization of the chain, can you tell me how the proof of stake web wallet fits into this?
Security and decentralization is the thing we value most, so I’m glad you asked. We at LuxCore feel that in order for cryptocurrencies to gain mass adoption we need to improve the user experience as a whole, whilst not messing with security. Private keys are insanely secure, but they’re not easy to use for the everyday user. Proof of Stake is a great way of letting people participate in increasing the chains decentralization, but not everyone is running a server 24/7. We’ve created the Proof of Stake Web Wallet, which we believe is a great step towards worldwide adoption. With the Web Wallet users can create an account and pay with their Lux anywhere in the world, at any time. The Web Wallet also optimizes for staking, this way you’re contributing to the decentralization of the chain and receive rewards in return. On top of all that, the Wallet will be fully maintained by the LuxCore team, this way you’ll never have to perform difficult wallet upgrades again.
If Luxcore is maintaining the web wallet, can you still guarantee that everything is completely decentralized?
The web wallet is designed to tackle the centralization issue. By spreading wallets across many of our highly secured servers across the world, these coins aren’t as centralized as you would think. Due to the hybrid nature of our chain, Proof of Stake isn’t the only way our chain verifies transactions. Even if all the coins on the network would be in a single place, you’re still only holding 50% of the network, consensus-wise.
Let’s move on to LuxGate. LuxCore claims to be the first that will launch a decentralized exchange, but a quick search on the web shows me several exchanges out there already claim to be decentralized, what makes you say you’re the first?
We claim to be among the first truly decentralized exchange. We’ve also seen a lot of decentralized exchanges launch into the world, but as far as we’re aware of, none of them is truly decentralized. CryptoBridge being the latest example. They claimed to be decentralized, but out of the blue enforce KYC on their users. Now users have to submit to KYC to get their funds back, how is that decentralized?
So now the question remains, what makes LuxGate different from what’s already out there?
The most important change is that LuxGate uses atomic swaps and smart contract order books to allow for peer to peer trading, directly from their own wallet. Because of this, users can trade without interference of a third party with a small side benefit: no trading fees. I have to say I’m so excited about LuxGate, it really gives power back to people. Which is why we’re all into crypto in the first place, right?
You’re absolutely right! Zero fees, that almost sounds too good to be true though. Where does LuxCore make their money if there are no fees to be paid?
I agree with you, it does sound too good to be true, doesn’t it? We don’t make any money, not from LuxGate at least. We strongly believe that for crypto to gain traction, we as a community have to strive for a better user experience. We’ve seen exchanges getting hacked, enforce KYC, CEO’s leaving with funds. Mainstream media paying a lot of attention to these events scares the users new to crypto. LuxGate will be a safe environment for everyone to use and having this platform out there will help the entire ecosystem. Currently we are asking projects that are being listed to have a holding in Lux. This doesn’t benefit us directly, but will help support the project, the chain’s decentralization and gives the project the attention it deserves. Providing a useful tool for the crypto community is beneficial to us because it does wonders for our brand recognition. So even if we're not making money on fees, we are supporting the community and getting awareness for that.
Amazing to see that you guys are really trying to build a brand around this instead of a get rich quick scheme! Could you tell me something more about LuxEdge, I believe that the safe environment that you’re talking about is also what you’re trying to accomplish with that, but for developers in particular, right?
Exactly, we strongly believe that people should be in charge of their own life without interference of third parties. LuxEdge is a platform that will run on top of our decentralized file storage. It will allow developers to push their code, access it anywhere in the world, without depending on a centralized party, like GitHub. Back in July GitHub confirmed to have blocked developers in Iran, Syria and Crimea, they’ve been denied access to their own code. With LuxEdge we’re building a platform that will allow developers to stay in charge of their own code, so that they can continue to develop the beautiful things we all enjoy.
I have to say I’m even more excited about LuxCore now than I was at the start of the interview and you can be sure I will continue to follow the project. If my readers want to follow your project too, what would be the best place for them to go to?
We have an amazing community that discusses topics daily on our Discord [Discord] and Telegram [Telegram]. But we also have our Reddit [Reddit], Twitter [Twitter] and Facebook [Facebook] for a more casual way of staying up to date.
We want to thank you for your time and we will keep in touch!
This was our interview with the Luxcore Team, if you have any questions, please feel free to comment on this post. I want to thank all of you for reading the interview and if you liked it make sure to check Luxcore and Forallcrypto's channels!
If you want to know more about ForAllCrypto:
- - Website
- - Public Telegram
Daily analysis of cryptocurrencies 20191014(Market index 37 — Fear state)
https://i.redd.it/3ygnthtqths31.jpg
UPbit Operator Dunamu To Launch Comprehensive OTC Platform
Dunamu, an operator of global cryptocurrency exchange UPbit, announced Oct 14 that it planed to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the UPbit operator, it will jointly launch the platform, which will be available in the form of an App, with local brokerage Samsung Securities and big data analytics company Deep Search in the end of October.
FSB Chair Reports To G20 Finance Ministers And Central Bank Governors
On Oct 13, the Financial Stability Board (FSB) published a letter from its Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. this week.
The letter highlights three areas of the FSB’s work, which include the potential financial stability issues from global stablecoins. It mentions that stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. “Possible regulatory gaps should be assessed and addressed as a matter of priority. The FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and advise on multilateral responses as necessary. The FSB will submit a consultative report to the G20 in April and a final report in July 2020,” the report reads.
US Senators Threaten CEOs: Dump Libra Or Face Regulatory Wrath
Facebook’s crypto woes are deepening as more partners are jumping the Libra ship before it even sets sail. It appears that US senators are urging them to do so as letters to CEOs have been leaked online. Some say the government is stifling innovation while others agree the crypto project is just dangerous. It seems that a number of US senators have been privately contacting Libra Association members urging them to dump the project like a hot rock. Letters shared online by VanEck digital asset strategist Gabor Gurbacs highlight the extent US politicians will go to in efforts to prevent Libra ever launching.
Report: G7 Says ‘Global Stablecoins’ Pose Threat To Financial Stability
The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system.
According to the BBC on Oct 13, a draft report from the G7 outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators, stating: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed. […] Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.
Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”
Skycoin (SKY): 14 October 2019 Hardware Release “New hardware product launch.”
Bibox Token (BIX): 14 October 2019 Weekly Report “Check out Bibox Weekly Report (Vol. 67 2019.09.28–2019.10.11)”
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th
KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.
BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.
OTOCASH (OTO): 15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM”
(CRYPTO): 15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17.
Cardano (ADA): 15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYC
FunFair (FUN): 15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on Discord
Ark (ARK): 15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “
DigiByte (DGB): 15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC.
ThoreNext (THX): 15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.
ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.
QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.
(CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM.
Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.”
IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.”
Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.”
Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.”
IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct”
Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’”
Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM.
Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision
HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.
OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.”
HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.”
BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19.
LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th
DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October.
General Event (CRYPTO): and 1 other 19 October 2019
Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…”
PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.”
Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!
Aeternity (AE): 20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.
Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains.
Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Encrypted project calendar（October 22, 2019）
ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”
BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.
Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.
BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA
BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28
ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://i.redd.it/roxxrqbuths31.png
This past week, we saw a nasty decline from the $8,950 zone in bitcoin against the US Dollar. The price declined heavily and broke the key $8,500 support area. Moreover, there was a close below the $8,500 level and the 100 hourly simple moving average. It opened the doors for more losses below the $8,400 and $8,350 support levels. Recently, there was a recovery above the $8,400 level, but the price failed to gain pace above $8,450.
As a result, there was a fresh decline from the $8,472 high. During the decline, there was a break below a key ascending channel with support near $8,340 on the hourly chart of the BTC/USD pair. The pair traded as low as $8,146 and it is currently correcting higher. It broke the $8,200 level and the 23.6% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
At the moment, the price is testing the $8,300 area. Besides, it seems like the 50% Fib retracement level of the recent decline from the $8,472 high to $8,146 low is acting as a resistance. On the upside, there are many hurdles forming near the $8,350 and $8,400 levels. The key resistance is near the $8,400 level and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
Therefore, a clear close above the $8,400 level might start a decent recovery. The next key resistance is near the $8,500 level, above which the price could test the $8,800 resistance. Conversely, if the price fails to recover above $8,350 or $8,400, it could resume its decline. An immediate support is near the $8,200 level.
Review previous articles: https://medium.com/@to.liuwen
Telegram： https://t.me/Lay126
Twitter：https://twitter.com/mianhuai8
Facebook：https://www.facebook.com/profile.php?id=100022246432745
Tax Guide: What Crypto Owners Should Know - Bitcoin News
https://news.bitcoin.com/tax-guide-what-crypto-owners-should-know/
The Ultimate Guide of DEX Trading
https://i.redd.it/l17mvn9d2hs31.png
In the cryptosphere, there are two broad categories of exchanges for you to trade coins and tokens. They are centralized exchanges (i.e. CEX, such as Binance, Poloniex, and Bittrex) and decentralized exchanges (i.e. DEX, such as DINNGO, IDEX and Switcheo). Most people first started crypto trading on CEX for its simple and fast experience until they realize the compromise of giving their private keys to CEXs for the convenience. As the saying goes, Not your keys — not your Bitcoin. From there, we see more and more people started trading on DEXs to join the ship of ending third party control of your funds. However, trading on DEXs can sometimes be confusing to people who are used to trade on CEXs. That is why for this article, we provide you an ultimate guide of how to navigate on a DEX easily and efficiently.
1. Register an account
In most DEXs, no account sign up would be required. Users can start trading as soon as they connect their wallets to the exchange. But on DINNGO, you will need to sign up for an account. Here’s why. On average, users don’t have just one wallet. Some in cold wallet, some in hot wallet. It can be problematic to manage all different types of wallets. With the account system, we are able to provide advanced features and services to users, this includes
- Wallets management. Where you can view your portfolio and performance of multiple wallets easily under your account.
- Higher security. We monitor our trading activities closely. If there is any abnormal actions, we notify you immediately.
- Instant customer support. Contacting us through your registered email can help us provide immediate support to without having to ask you to verify yourself as wallet owner, or provide loads of technical information.
- First hand updates. Latest promotion, system maintenance, new features, etc, you won’t miss any of that.
2. Trading directly from your wallet
Unlike CEXs where users send their tokens to the exchange, DEXs let users to make trades directly from their wallets. To start with using a DEX, you need a wallet that can interact with the blockchain that is built on. For DINNGO, it is built on the Ethereum, so you will need an Ethereum wallet such as MetaMask. This wallet can be thought of as a place to store your tokens and you can trade your tokens on the DEX through your wallet.
3. Deposit your funds on the blockchain
Before you place the order to trade, you need to send the tokens that you want to trade to the DEX’s smart contract. We call this process “Deposit”, but instead of keeping tokens with a centralized ledger like most CEXs, your tokens are deposited on the blockchain and you are still the only person that has access to them. This is why, even after you deposit your tokens, you still need to sign each transaction. What does sign each transaction mean?
4. Signing transactions
The most different experience of trading on DEX is that you are the boss, which means, every transaction can not be processed without your approval. Be ready to see pop-up windows or alerts that ask you to “Sign”. For example, when you first connect your wallet to a DEX, your wallet would ask you to give the DEX permission to interact with your wallet. After which, every interaction with the exchange, such as authorizing a deposit, placing an order or canceling one, will also require a transaction with the blockchain hence you need to sign.
5. Mining time
Unlike CEXs, where transactions are written onto a centralized ledger, DEXs process all transactions onto the blockchain. We call this process “mining”, which means exactly “processing”. It just sounds more professional and cool to say “mining”. And this is why when you sign a transaction, it doesn’t just go through and complete instantly. It has to be “mined” into the blockchain. On Ethereum, and when the network is not congested, this should only take 15–30 seconds.
6. Gas
On CEXs, transactions are written into a private ledger and handled by a centralized engine, which is not on the blockchain. But on DEXs, all transactions on the Ethereum network cost gas, which is the currency paid to miners for performing blockchain operations. To trade on a DEX, users are usually responsible for covering all gas fees required to use the exchange. On DINNGO, deposit gas fees are paid directly by the user and all other transactions and withdrawals, DINNGO pays the gas fee to the network and deducts this fee from the user’s transaction.
In general, the biggest difference between CEX and DEX is that you hold 100% control of your assets. Any changes of your assets must be approved by you and we believe this is the only way to be your own boss, to fully manage your assets in your hand. With that being said, DEX is the place to provide you better and safer crypto trading experience.
We hope this guide is helpful for you to better navigate on a DEX. Visit dinngo.co to start trading today and earn $5 worth of USDT by simply complete one trade.
【 About Us 】
- Official Website: https://go.dinngo.co/website
- Twitter: https://go.dinngo.co/twitter
- Telegram: http://bit.ly/DINNGO_TEL
- Contact Us: support@dinngo.co
#######Blockchain is a better technology, not a perfect one########
World Economic Forum site properly posed some intense inquiries about the capacity of blockchain to change the world for better. The contention was that it was hazardous to put all our confidence in this new innovation to comprehend our computerized security issues.
While the facts confirm that blockchain is anything but an "enchantment projectile" that ought to be indiscriminately trusted, there are different components at play here. The thought isn't to supplant human trust with trust in machines however numerically exhibited trust.
Blockchain is another innovation with the capacity to change our regular day to day existences. It is an undetectable innovation, it works in the background. It resembles the web today: you can't see it, however you realize it is there working for us. One of its key highlights is likewise unchanging nature, which means the records can't be reflectively changed; this is an indispensable point to any discourse about blockchain and security.
Digital forms of money, for example, Bitcoin were the principal genuine use instance of blockchain, however that wave has since gone back and forth. Issues in the digital currency division don't nullify the advantages of blockchain in different areas, where it will frequently be utilized to enhance as opposed to completely supplant existing security frameworks. Each innovation has imperfections, however blockchain appears to scare a few people in light of the fact that, regarding security, it has generally less defects.
The article likewise makes reference to the narrative of a perished CEO whose $150 million subsidizes were out of reach after death, however then proceeds to state the organization "neglected to actualize appropriate balanced governance to anticipate such a situation." So this is an issue created by poor execution, not an inadequacy of the innovation.
right to state it could take a long time for the blockchain business to combine on security gauges, however on the grounds that mass-execution is around the bend, it doesn't mean it will be turned out too early. This is for two reasons: right off the bat, advancement in the blockchain segment is moving at lightning speed. Besides, if blockchain is turned out altogether before designers feel it is prepared, at that point this is an issue again with human trust, not the innovation. In the event that you can't cut an apple with a dull blade, the issue isn't with the blade, yet that the blade was not honed before use. It is critical to recollect that blockchain is still in the improvement arrange.
Code, consensus mechanisms, and communication protocols all have the potential to host vulnerabilities that can be exploited for malicious use. But blockchain is currently a divergent technology: multiple protocols and programming languages are being developed in parallel. As a result, it is difficult for developers to acquire the experience needed to secure their code, while most are under stringent time pressure to deliver.
The solution is increased training and education. Regarding the threat of quantum computing breaking cryptographic algorithms, this issue essentially solves itself. Quantum computing can only do this because it is advancing, as it advances its costs will decrease and the technology will become more widely accessible, in turn allowing blockchain developers the ability to create defences against it. It is important to remember that quantum computing is still in the experimental phase. Blockchain offers new security features which may not be for every person or every software, but for some it is precisely what it is needed - we should use it only where it makes sense to be used.
Blockchain is not a finished product, and like all other software products, it will never reach a final form. Why? Because it can and will always improve. There are no magic bullets, only better bullets.
dato#tay#kim#leng#daniel
######Blockchain is a better technology, not a perfect one######
World Economic Forum site properly posed some intense inquiries about the capacity of blockchain to change the world for better. The contention was that it was hazardous to put all our confidence in this new innovation to comprehend our computerized security issues.
While the facts confirm that blockchain is anything but an "enchantment projectile" that ought to be indiscriminately trusted, there are different components at play here. The thought isn't to supplant human trust with trust in machines however numerically exhibited trust.
Blockchain is another innovation with the capacity to change our regular day to day existences. It is an undetectable innovation, it works in the background. It resembles the web today: you can't see it, however you realize it is there working for us. One of its key highlights is likewise unchanging nature, which means the records can't be reflectively changed; this is an indispensable point to any discourse about blockchain and security.
Digital forms of money, for example, Bitcoin were the principal genuine use instance of blockchain, however that wave has since gone back and forth. Issues in the digital currency division don't nullify the advantages of blockchain in different areas, where it will frequently be utilized to enhance as opposed to completely supplant existing security frameworks. Each innovation has imperfections, however blockchain appears to scare a few people in light of the fact that, regarding security, it has generally less defects.
The article likewise makes reference to the narrative of a perished CEO whose $150 million subsidizes were out of reach after death, however then proceeds to state the organization "neglected to actualize appropriate balanced governance to anticipate such a situation." So this is an issue created by poor execution, not an inadequacy of the innovation.
right to state it could take a long time for the blockchain business to combine on security gauges, however on the grounds that mass-execution is around the bend, it doesn't mean it will be turned out too early. This is for two reasons: right off the bat, advancement in the blockchain segment is moving at lightning speed. Besides, if blockchain is turned out altogether before designers feel it is prepared, at that point this is an issue again with human trust, not the innovation. In the event that you can't cut an apple with a dull blade, the issue isn't with the blade, yet that the blade was not honed before use. It is critical to recollect that blockchain is still in the improvement arrange.
Code, agreement instruments, and correspondence conventions all can possibly have vulnerabilities that can be abused for malignant use. However, blockchain is at present a unique innovation: numerous conventions and programming dialects are being created in parallel. Accordingly, it is hard for designers to procure the experience expected to verify their code, while most are under stringent time strain to convey.
The arrangement is expanded preparing and instruction. With respect to risk of quantum figuring breaking cryptographic calculations, this issue basically unravels itself. Quantum figuring can just do this since it is progressing, as it propels its costs will diminish and the innovation will turn out to be all the more generally open, thus permitting blockchain designers the capacity to make protections against it. Remember that quantum registering is still in the exploratory stage. Blockchain offers new security highlights which may not be for each individual or each product, yet for some it is absolutely what it is required - we should utilize it just where it bodes well to be utilized.
Blockchain is anything but a completed item, and like all other programming items, it will never arrive at a last structure. Why? Since it can and will consistently improve. There are no enchantment shots, just better slugs.
#dato#daniel#tay#kim#leng#blockchain
Subscribe to:
Posts (Atom)