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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

The Nano Faucet Distribution: Visualized and Analyzed

It's no secret that Nano had a unique distribution. Unlike Bitcoin, Nano (then Raiblocks) had 100% of its supply minted in the Genesis block, which was then subsequently distributed via a Captcha faucet. However, the nature of this distribution has largely been unknown to the general public due to well... no one looking into it, I suppose. That is, until now.
Thanks to community member Renesq, the initial faucet distribution can finally be audited for the first time without the development of internal tools. So I took the data, and analyzed it.
Before I share the data, there is one important thing to note. This analysis is of standalone addresses only, not entities. It is very difficult to prove how many separate Nano addresses make up a single entity. It can be done, but this requires a much more complex chain analysis which is out of the scope of this investigation, such as linking different accounts together by following the chain to specific exchange deposit addresses. However, I think this is a good starting point to give us an idea of what the faucet distribution looked like, even if it isn't perfect.
This is the distribution graph.
The distribution graph can be read as follows: Say you look at the point (10,000, 0.65), That means the top 10,000 accounts farmed 65% of the max supply. Conversely, the point (80,000, 0.97) means the top 80,000 accounts farmed 97% of the max supply. Another thing to note, is that I removed exchanges like Binance from the current normalized distribution. This is because we don't know who within the hot/cold wallets owns the Nano. However, I should stress that the exchange excluded and exchange included normalizations are nearly identical, so it doesn't really matter in this case.
From this graph, I think it's safe to say that the faucet distribution was not rigged as people worry about. Or at least, it can point people in the right direction for a more in depth analysis. As you can see, the distribution has become more centralized over time due to accumulation.
Now for some more statistics:
submitted by hanzyfranzy to nanocurrency [link] [comments]

BitcoinBCH.com accidentally publishes on-chain proof that they fake BCHs adoption metrics. Post to r/btc gets deleted and OP is now permanently banned.

Everybody who has posted this on btc has been banned according to modlog. Total of 9 users so far. Don't post this on btc or you will get banned. If you get banned comment on this thread or PM me.

May 2020:

According to btc modlogs, mc-78 has been banned because he questioned the April report with this comment.

According to btc modlogs, BCH4TW has been banned because he questioned the April report with this comment.

March 2020:

According to btc modlogs, bch4god has been banned because he questioned the February report with this comment.

According to btc modlogs, ISeeGregPeople has been banned because he linked to this thread in his comment.

February 2020:

According to btc modlogs, whene-is-satoshi has been banned because he linked to this thread in his comment.

January 2020:

According to btc modlogs, cryptokittykiller's post has been removed for linking to this thread.

According to btc modlogs, bashcalf has now been banned for linking to this thread.

According to btc modlogs, EnterLayer2 has now been banned for this post pointing out that this thread has reached 1000 upvotes.

This article was posted by bitcoinsatellite on btc here. Once it reached frontpage it got deleted and OP was banned from btc and bitcoincash as a result.

Disclaimer: I am not and have never been affiliated with any of the mentioned parties in a private or professional matter.
Presumably in an attempt to smear a local competitor, Hayden Otto inadvertently publishes irrefutable on-chain proof that he excluded non-BCH retail revenue to shape the "BCH #1 in Australia" narrative.
  • Scroll down to "Proof of exclusion" if you are tired of the drama recap.
  • Scroll down to "TLDR" if you want a summary.

Recap

In September 2019, BitcoinBCH.com started publishing so called monthly "reports" about crypto retail payments in Australia. They claimed that ~90% of Australia's crypto retail revenue is processed via their own HULA system and that ~92% of all crypto retail revenue happens in BCH.
They are aggregating two data sources to come up with this claim.
One is TravelByBit (TBB) who publishes their PoS transactions (BTC, LN, ETH, BNB, DASH, BCH) live on a ticker.
The other source is HULA, a newly introduced POS system (BCH only) and direct competitor to TBB run by BitcoinBCH.com - the same company who created the report. Despite being on-chain their transactions are private, not published and not verifiable by third parties outside BitcoinBCH.com
Two things stood out in the "reports", noted by multiple users (including vocal BCH proponents):
  • The non-BCH parts must have tx excluded and the report neglects to mention it (the total in their TBB analysis does not match what is reported on the TBB website.)
  • The BCH part has outliers included (e.g. BCH city conference in September with 35x the daily average)
The TBB website loads the historic tx data in the browser but hides transactions older than 7 days from being displayed, i.e. you can access more than 7 days worth of data if you understand JavaScript and can read the source code (source).

Hayden Otto's reaction

In direct response to me publishing these findings on btc, Hayden Otto - an employee at BitcoinBCH.com and the author of the report who also happens to be a moderator of /BitcoinCash - banned me immediately from said sub (source).
In subsequent discussion (which repeated for every monthly "report" which was flawed in the same ways as described above), Hayden responded using the same tactics:
"No data was removed"
"The guy is straight out lying. There is guaranteed no missing tx as the data was collected directly from the source." (source)
"Only data I considered non-retail was removed"
"I also had these data points and went through them to remove non-retail transactions, on both TravelbyBit and HULA." (source)
He admits to have removed non-BCH tx by "Game Ranger" because he considers them non-retail (source). He also implies they might be involved in money laundering and that TBB might fail their AML obligations in processing Game Ranger's transactions (source).
The report does not mention any data being excluded at all and he still fails to explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx excluded (source).
"You are too late to prove I altered the data"
"[...] I recorded [the data] manually from https://travelbybit.com/stats/ over the month of September. The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
Fortunately you can, if you can read the website's source code. But you need to know a bit of JavaScript to verify it yourself, so not an ideal method to easily prove the claim of data exclusion to the public. But it laters turns out Hayden himself has found an easier way to achieve the same.
"The report can't be wrong because it has been audited."
In response to criticism about the flawed methodology in generating the September report, BitcoinBCH.com hired an accountant from a regional Bitcoin BCH startup to "audit" the October report. This is remarkable, because not only did their reported TBB totals still not match those from the TBB site - their result was mathematically impossible. How so? No subset of TBB transaction in that month sums up to the total they reported. So even if they excluded retail transactions at will, they still must have messed up the sum (source). Why didn't their auditor notice their mistake? She said she "conducted a review based on the TravelByBit data provided to her", i.e. the data acquisition and selection process was explicitly excluded from the audit (source).
"You are a 'pathetic liar', a 'desperate toll', an 'astroturf account' and 'a total dumb ass' and are 'pulling numbers out of your ass!'"
Since he has already banned me from the sub he moderates, he started to resort to ad hominems (source, source, source, source).

Proof of exclusion

I published raw data as extracted from the TBB site after each report for comparison. Hayden responded that I made those numbers up and that I was pulling numbers out of my ass.
Since he was under the impression that
"The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
he felt confident to claim that I would be
unable to provide a source for the [missing] data and/or prove that that data was not already included in the report. (source)
Luckily for us Hayden Otto seems to dislike his competitor TravelByBit so much that he attempted to reframe Bitcoin's RBF feature as a vulnerability specific to TBB PoS system (source).
While doublespending a merchant using the TBB PoS he wanted to prove that the merchant successfully registered the purchase as complete and thus exposed that the PoS sales history of TBB's merchants are available to the public (source), in his own words:
"You can literally access it from a public URL in the Web browser. There is no login or anything required, just type in the name of the merchant." (source)
As of yet it is unclear if this is intentional by TBB or if Hayden Ottos followed the rules of responsible disclosure before publishing this kind of data leak.
As it happens, those sale histories do not only include the merchant and time of purchases, they even include the address the funds were sent to (in case of on-chain payments).
This gives us an easy method to prove that the purchases from the TBB website missing in the reports belong to a specific retail business and actually happened - something that is impossible to prove for the alleged HULA txs.
In order to make it easier for you to verify it yourself, we'll focus on a single day in the dataset, September 17th, 2019 as an example:
  • Hayden Otto's report claims 20 tx and $713.00 in total for that day (source)
  • The TBB website listed 40 tx and a total of $1032.90 (daily summary)
  • Pick a merchant, e.g. "The Stand Desserts"
  • Use Hayden's "trick" to access that merchants public sale history at https://www.livingroomofsatoshi.com/merchanthistory/thestanddesserts, sort by date to find the 17th Sep 2019 and look for a transaction at 20:58 for $28. This proves that a purchase of said amount is associated with this specific retail business.
  • Paste the associated crypto on-chain address 17MrHiRcKzCyuKPtvtn7iZhAZxydX8raU9 in a blockchain explorer of your choice, e.g like this. This proves that a transfer of funds has actually happened.
I let software aggregate the TBB statistics with the public sale histories and you'll find at the bottom of this post a table with the on-chain addresses conveniently linked to blockchain explorers for our example date.
The total of all 40 tx is $1032.90 instead of the $713.00 reported by Hayden. 17 tx of those have a corresponding on-chain address and thus have undeniable proof of $758.10. Of the remaining 23, 22 are on Lightning and one had no merchant history available.
This is just for a single day, here is a comparison for the whole month.
Description Total
TBB Total $10,502
TBB wo. Game Ranger $5,407
TBB according to Hayden $3,737

What now?

The usual shills will respond in a predictive manner: The data must be fake even though its proof is on-chain, I would need to provide more data but HULA can be trusted without any proof, if you include outliers BCH comes out ahead, yada, yada.
But this is not important. I am not here to convince them and this post doesn't aim to.
The tx numbers we are talking about are less than 0.005% of Bitcoin's global volume. If you can increase adoption in your area by 100% by just buying 2 coffees more per day you get a rough idea about how irrelevant the numbers are in comparison.
What is relevant though and what this post aims to highlight is that BitcoinBCH.com and the media outlets around news.bitcoin.com flooding you with the BCH #1 narrative are playing dirty. They feel justified because they feel that Bitcoin/Core/Blockstream is playing dirty as well. I am not here to judge that but you as a reader of this sub should be aware that this is happening and that you are the target.
When BitcoinBCH.com excludes $1,000 Bitcoin tx because of high value but includes $15,000 BCH tx because they are made by "professionals", you should be sceptical.
When BitcoinBCH.com excludes game developers, travel businesses or craftsmen accepting Bitcoin because they don't have a physical store but include a lawyer practice accepting BCH, you should be sceptical.
When BitcoinBCH.com excludes restaurants, bars and supermarkets accepting Bitcoin and when pressed reiterate that they excluded non-retail businesses without ever explaning why a restaurant shouldn't be considered reatil, you should be sceptical.
When BitcoinBCH.com claims the reports have been audited but omit that the data acquisition was not part of the audit, you should be sceptical.
I expect that BitcoinBCH.com will stop removing transactions from TBB for their reports now that it has been shown that their exclusion can be provably uncovered. I also expect that HULA's BCH numbers will rise accordingly to maintain a similar difference.
Hayden Otto assumed that nobody could cross-check the TBB data. He was wrong. Nobody will be able to disprove his claims when HULA's BCH numbers rise as he continues to refuse their release. You should treat his claims accordingly.
As usual, do your own research and draw your own conclusion. Sorry for the long read.

TLDR

  • BitcoinBCH.com claimed no transactions were removed from the TBB dataset in their BCH #1 reports and that is impossible to prove the opposite.
  • Hayden Otto's reveals in a double spend attempt that a TBB merchant's sale history can be accessed publicly including the merchant's on-chain addresses.
  • (For example,) this table shows 40 tx listed on the TBB site on Sep 17th, including their on-chain addresses where applicable. The BitcoinBCH.com report lists only 20 tx for the same day.
  • (Most days and every months so far has had BTC transactions excluded.)
  • (For September, TBB lists $10,502 yet the report only claims $3,737.
No. Date Merchant Asset Address Amount Total
1 17 Sep 19 09:28 LTD Espresso Lightning Unable to find merchant history. 4.50 4.50
2 17 Sep 19 09:40 LTD Espresso Binance Coin Unable to find merchant history. 4.50 9.00
3 17 Sep 19 13:22 Josh's IGA Murray Bridge West Ether 0x40fd53aa...b6de43c531 4.60 13.60
4 17 Sep 19 13:23 Nom Nom Korean Eatery Lightning lnbc107727...zkcqvvgklf 16.00 29.60
5 17 Sep 19 13:24 Nom Nom Korean Eatery Lightning lnbc100994...mkspwddgqw 15.00 44.60
6 17 Sep 19 14:02 Nom Nom Korean Eatery Binance Coin bnb1w5mwu9...552thl4ru5 30.00 74.60
7 17 Sep 19 15:19 Dollars and Sense (Fortitude Valley) Lightning lnbc134780...93cpanyxfg 2.00 76.60
8 17 Sep 19 15:34 Steph's Cafe Binance Coin bnb124hcjy...ss3pz9y3r8 57.50 134.10
9 17 Sep 19 19:37 The Stand Desserts Binance Coin bnb13f58s9...qqc7fxln7s 18.00 152.10
10 17 Sep 19 19:59 The Stand Desserts Lightning lnbc575880...48cpl0z06q 8.50 160.60
11 17 Sep 19 20:00 The Stand Desserts Lightning lnbc575770...t8spzjflym 8.50 169.10
12 17 Sep 19 20:13 The Stand Desserts Lightning lnbc202980...lgqp5ha8f4 3.00 172.10
13 17 Sep 19 20:21 The Stand Desserts Lightning lnbc577010...decq7r4p05 8.50 180.60
14 17 Sep 19 20:24 Fat Dumpling Lightning lnbc217145...9dsqpjjr6g 32.10 212.70
15 17 Sep 19 20:31 The Stand Desserts Lightning lnbc574530...wvcpp3pcen 8.50 221.20
16 17 Sep 19 20:33 The Stand Desserts Lightning lnbc540660...rpqpzgk8z0 8.00 229.20
17 17 Sep 19 20:37 The Stand Desserts Lightning lnbc128468...r8cqq50p5c 19.00 248.20
18 17 Sep 19 20:39 The Stand Desserts Lightning lnbc135220...cngp2zq6q4 2.00 250.20
19 17 Sep 19 20:45 The Stand Desserts Lightning lnbc574570...atcqg738p8 8.50 258.70
20 17 Sep 19 20:51 Fat Dumpling Lightning lnbc414190...8hcpg79h9a 61.20 319.90
21 17 Sep 19 20:53 The Stand Desserts Lightning lnbc135350...krqqp3cz8z 2.00 321.90
22 17 Sep 19 20:58 The Stand Desserts Bitcoin 17MrHiRcKz...ZxydX8raU9 28.00 349.90
23 17 Sep 19 21:02 The Stand Desserts Bitcoin 1Hwy8hCBff...iEh5fBsCWK 10.00 359.90
24 17 Sep 19 21:03 The Stand Desserts Lightning lnbc743810...dvqqnuunjq 11.00 370.90
25 17 Sep 19 21:04 The Stand Desserts Lightning lnbc114952...2vqpclm87p 17.00 387.90
26 17 Sep 19 21:10 The Stand Desserts Lightning lnbc169160...lpqqqt574c 2.50 390.40
27 17 Sep 19 21:11 The Stand Desserts Lightning lnbc575150...40qq9yuqmy 8.50 398.90
28 17 Sep 19 21:13 The Stand Desserts Lightning lnbc947370...qjcp3unr33 14.00 412.90
29 17 Sep 19 21:15 The Stand Desserts Binance Coin bnb1tc2vva...xppes5t7d0 16.00 428.90
30 17 Sep 19 21:16 Giardinetto Binance Coin bnb1auyep2...w64p6a6dlk 350.00 778.90
31 17 Sep 19 21:25 The Stand Desserts BCH 3H2iJaKNXH...5sxPk3t2tV 7.00 785.90
32 17 Sep 19 21:39 The Stand Desserts Binance Coin bnb17r7x3e...avaxwumc58 8.00 793.90
33 17 Sep 19 21:47 The Stand Desserts BCH 32kuPYT1tc...uFQwgsA5ku 18.00 811.90
34 17 Sep 19 21:52 The Stand Desserts BCH 3ELPvxtCSy...4QzvfVJsNZ 36.00 847.90
35 17 Sep 19 21:56 The Stand Desserts Lightning lnbc677740...acsp04sjeg 10.00 857.90
36 17 Sep 19 22:04 The Stand Desserts BCH 38b4wHg9cg...9L2WXC2BSK 54.00 911.90
37 17 Sep 19 22:16 The Stand Desserts Binance Coin bnb14lylhs...x6wz7kjzp5 18.00 929.90
38 17 Sep 19 22:21 The Stand Desserts BCH 3L8SK3Hr7u...F3htdSPxfL 90.00 1019.90
39 17 Sep 19 22:30 The Stand Desserts Binance Coin bnb19w6tle...774uknv57t 5.00 1024.90
40 17 Sep 19 22:48 The Stand Desserts BCH 3Qag8c4UYg...9EYuWzGjhs 8.00 1032.90
submitted by YeOldDoc to CryptoCurrency [link] [comments]

Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

Update TKEYSPACE 1.3.0 on Android

Update TKEYSPACE 1.3.0 on Android

https://preview.redd.it/6w93e0afttx41.png?width=1400&format=png&auto=webp&s=c00989612ec2d52eb522405e6b6a98bf875e08bb
Version 1.3.0 is a powerful update to TkeySpace that our team has been carefully preparing. since version 1.2.0, we have been laying the foundation for implementing new features that are already available in the current version.
Who cares about the security and privacy of their assets is an update for you.
TkeySpace — was designed to give You full control over your digital assets while maintaining an exceptional level of security, which is why there is no personal data in the wallet: phone number, the email address that could be compromised by hackers — no identity checks and other hassles, just securely save the backup phrase consisting of 12 words.

Briefly about the TkeySpace 1.3.0 update :

  • Code optimization and switching to AndroidX;
  • New section-Privacy;
  • Built-in TOR;
  • Selecting the privacy mode;
  • Selecting the recovery method for each currency;
  • Choosing the address format for Litecoin;
  • Enhanced validation of transactions and blocks in the network;
  • Disk space optimization;
  • Accelerated syncing;
  • Checking “double spending”;
  • The bloom filter to check for nodes;
  • Updating the Binance and Ethereum libraries;
  • A function to hide the balance;
  • Advanced currency charts;
  • Access to charts without authentication;
  • News section;
  • Browser for Tkeycoin;
  • Independent Commission entry for Bitcoin;
  • New digital currencies;
  • Digital currency exchange tab.

Code optimization and switching to AndroidX

A lot of work has been done on optimizing the code to speed up the application, improving the logic, synchronization speed, calculating the hash of cryptocurrencies, and successfully switching to AndroidX.

https://preview.redd.it/h3go5tzgttx41.png?width=1100&format=png&auto=webp&s=bf311efc73e3577c80f06a21d6b9317bb93ae989

New section: Privacy

  • Enable Tor;
  • Blockchain transaction (the selection of the privacy mode);
  • Blockchain recovery (choosing a recovery method);
https://preview.redd.it/iydfwuhittx41.png?width=1080&format=png&auto=webp&s=2ce7c489d893a2ab6b9d6fede57d8b94404edcfb

TOR

Starting with the current update, the TkeySpace wallet can communicate via the TOR network, includes new privacy algorithms, and supports 59 different currencies.

https://i.redd.it/kn5waeskttx41.gif
Tor is a powerful privacy feature for those who own large assets or live in places where the Internet is heavily censored.
Tor technology provides protection against traffic analysis mechanisms that compromise not only Internet privacy, but also the confidentiality of trade secrets, business contacts, and communications in General.
When you enable TOR settings, all outgoing traffic from the wallet will be encrypted and routed through an anonymous network of servers, periodically forming a chain through the Tor network, which uses multi-level encryption, effectively hiding any information about the sender: location, IP address, and other data.
This means that if your provider blocks the connection, you can rest easy — after all, by running this function, you will get an encrypted connection to the network without restrictions.

https://preview.redd.it/w9y3ax4mttx41.png?width=960&format=png&auto=webp&s=972e375fc26d479e8b8d2999f7659ec332e2af55
In TOR mode, the wallet may work noticeably slower and in some cases, there may be problems with the network, due to encryption, some blockchain browsers may temporarily not work. However, TOR encryption is very important when Internet providers completely block traffic and switching to this mode, you get complete freedom and no blocks for transactions.

Confidentiality of transactions (the Blockchain transaction)

The wallet can change the model of a standard transaction, mixing inputs and outputs, making it difficult to identify certain cryptocurrencies. In the current update, you can select one of several modes for the transaction privacy level: deterministic lexicographic sorting or shuffle mode.

Mode: Lexicographic indexing

Implemented deterministic lexicographic sorting using hashes of previous transactions and output indexes for sorting transaction input data, as well as values and scriptPubKeys for sorting transaction output data;
We understand that information must remain confidential not only in the interests of consumers but also in higher orders, financial systems must be kept secret to prevent fraud. One way to address these privacy shortcomings is to randomize the order of inputs and outputs.
Lexicographic ordering is a comparison algorithm used to sort two sets based on their Cartesian order within their common superset. Lexicographic order is also often referred to as alphabetical order or dictionary order. The hashes of previous transactions (in reverse byte order) are sorted in ascending order, lexicographically.
In the case of two matching transaction hashes, the corresponding previous output indexes will be compared by their integer value in ascending order. If the previous output indexes match, the input data is considered equal.

Shuffle Mode: mixing (random indexing)

To learn more about how “shuffle mode” works, we will first analyze the mechanisms using the example of a classic transaction. Current balance Of your wallet: 100 TKEY, coins are stored at different addresses:
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
Addresses in the blockchain are identifiers that you use to send cryptocurrency to another person or to receive digital currency.
In a classic transaction, if you need to send, for example, 19 TKEY — 100 TKEY will be sent to the network for “melting” coins, 19 TKEY will be sent to the Recipient, and ~80.9 TKEY will return to the newly generated address for “change” in your wallet.

https://preview.redd.it/x595qwdottx41.png?width=806&format=png&auto=webp&s=d9c2ae5620a3410ed83f7e16c018165c8ab35844
In the blockchain explorer, you will see the transaction amount in the amount of 100 TKEY, where 80.99999679 TKEY is your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee. Thus, in the blockchain search engine, most of your balance is shown in the transaction.

How does the shuffle mode work?

Let’s look at a similar example: you have 100 TKEY on your balance, and you need to send 19 TKEY.
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
You send 19 TKEY, the system analyzes all your addresses and balances on them and selects the most suitable ones for the transaction. To send 19 TKEY, the miners will be given coins with x2. Addresses, for a total of 20 TKEY. Of these, 19 TKEY will be sent to the recipient, and 0.99999679 TKEY will be returned to Your new address as change minus the transaction fee.

https://preview.redd.it/doxmqffqttx41.png?width=1400&format=png&auto=webp&s=5c99ec41363fe50cd651dc0acab05e175416006a
In the blockchain explorer, you will see the transaction amount in the amount of 20 TKEY, where 0.99999679 TKEY is Your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee.
The shuffle mode has a cumulative effect. with each new transaction, delivery Addresses will be created and the selection of debit addresses/s that are most suitable for the transaction will change. Thus, if you store 1,000,000 TKEY in your wallet and want to send 1 TKEY to the recipient, the transaction amount will not display most of your balance but will select 1 or more addresses for the transaction.

Selecting the recovery method for each digital currency (Blockchain restore)

Now you can choose the recovery method for each currency: API + Blockchain or blockchain.
Note: This is not a syncing process, but rather the choice of a recovery method for your wallet. Syncing takes place with the blockchain — regardless of the method you choose.
https://preview.redd.it/gxsssuxrttx41.png?width=1080&format=png&auto=webp&s=cd9fe383618dda0e990e86485652ff95652a8481

What are the differences between recovery methods?

API + Blockchain

In order not to load the entire history of the blockchain, i.e. block and transaction headers, the API helps you quickly get point information about previous transactions. For example, If your transactions are located in block 67325 and block 71775, the API will indicate to the node the necessary points for restoring Your balance, which will speed up the “recovery” process.
As soon as the information is received, communication with the peers takes place and synchronization begins from the control point, then from this moment, all subsequent block loading is carried out through the blockchain. This method allows you to quickly restore Your existing wallet.
‘’+’’ Speed.
‘’-’’ The API server may fail.

Blockchain

This method loads all block headers (block headers + Merkle) starting from the BIP44 checkpoint and manually validates transactions.
‘’+’’ It always works and is decentralized. ‘’-’’ Loading the entire blockchain may take a long time.

Why do I need to switch the recovery method?

If when creating a wallet or restoring it, a notification (!) lights up in red near the selected cryptocurrency, then most likely the API has failed, so go to SettingsSecurity CenterPrivacyBlockchain Restore — switch to Blockchain. Syncing will be successful.

Selecting the address format

You can choose the address format not only for Bitcoin but also for Litecoin. Legacy, SegWit, Native SegWit. Go to SettingsManage WalletsAddress Format.

https://preview.redd.it/nqj0nwutttx41.png?width=1080&format=png&auto=webp&s=fc04b8ee8339ab27d3203ff551013cda7aa9e8db

Working at the code level

Enhanced validation of transactions and blocks in the network

Due to the increased complexity in the Tkeycoin network, we have implemented enhanced validation of the tkeycoin consensus algorithm, and this algorithm is also available for other cryptocurrencies.

What is the advantage of the enhanced validation algorithm for the user

First, the name itself speaks for itself — it increases the security of the network, and second, by implementing the function — we have accelerated the work of the TkeySpace blockchain node, the application consumes even fewer resources than before.
High complexity is converted to 3 bytes, which ensures fast code processing and the least resource consumption on your device.

Synchronization

The synchronization process has been upgraded. Node addresses are added to the local storage, and instant synchronization with nodes occurs when you log in again.

Checking for double-spending

TkeySpace eliminates “double-spending” in blockchains, which is very valuable in the Bitcoin and Litecoin networks.
For example, using another application, you may be sent a fake transaction, and the funds will eventually disappear from the network and your wallet because this feature is almost absent in most applications.
Using TkeySpace — you are 100% sure that your funds are safe and protected from fraudulent transactions in the form of “fake” transactions.

The bloom filter to check for nodes

All nodes are checked through the bloom filter. This allows you to exclude fraudulent nodes that try to connect to the network as real nodes of a particular blockchain.
In practice, this verification is not available in applications, Tkeycoin — decided to follow a new trend and change the stereotypes, so new features such as node verification using the bloom filter and double-spending verification are a kind of innovation in applications that work with cryptocurrencies.

Updating the Binance and Ethereum libraries

Updated Binance and Ethereum libraries for interaction with the TOR network.

Interface

Function — to hide the balance

This function allows you to hide the entire balance from the main screen.

Advanced currency charts and charts without authentication

Detailed market statistics are available, including volumes, both for 1 day and several years. Select the period of interest: 1 day, 7 days, 1 month, 3 months, 6 months, 1 year, 2 years.
In version 1.3.0, you can access charts without authentication. You can monitor the cryptocurrency exchange rate without even logging in to the app. If you have a pin code for logging in, when you open the app, swipe to the left and you will see a list of currencies.

https://preview.redd.it/f3thqv1wttx41.png?width=1080&format=png&auto=webp&s=1906307f7ad1fd6db47bf270ce7c57185267b1a3

News

In the market data section — in the tkeyspace added a section with current news of the cryptocurrency market.

https://preview.redd.it/lz1e7ynxttx41.png?width=1080&format=png&auto=webp&s=b6f1858d8752cfc6187df5d7b8a2ce25813e2366

Blockchain Explorer for Tkeycoin

Transaction verification for Tkeycoin is now available directly in the app.

Independent Commission entry for Bitcoin

Taking into account the large volume of the Bitcoin network, we have implemented independent Commission entry — you can specify any Commission amount.
For other currencies, smart Commission calculation is enabled based on data from the network. The network independently regulates the most profitable Commission for the sender.

New digital currencies

The TkeySpace wallet supports +59 cryptocurrencies and tokens.

Cryptocurrencies

Tkeycoin (TKEY), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), DASH, Binance (BNB), EOS.

Stablecoins

TrueUSD (TUSD), Tether USD (USDT), USD Coin (USDC), Gemini Dollar (GUSD), STASIS EURO (EURS), Digix Gold Token (DGX), Paxos Standard (PAX), PAX Gold (PAXG), Binance USD (BUSD), EOSDT, Prospectors Gold (PGL).

ERC-20, BEP2, and EOS tokens

Newdex (NDX), DigixDAO ERC-20 (DGD), Chainlink ERC-20 (LINK), Decentraland ERC-20 (MANA), EnjinCoin ERC-20 (ENJ), the Native Utility (NUT), 0x Protocol ERC-20 (ZRX), Aelf ERC-20 (ELF), Dawn DAO ERC-20 (AURA), Cashaaa BEP2 (CAS), Bancor ERC-20 (BNT), the Basic Attention Token ERC-20 (BAT), Golem ERC-20 (GNT), Mithril ERC-20 (MITH), MEETONE, NEXO ERC-20, Holo ERC-20 (HOT), Huobi Token ERC-20 (HT), IDEX ERC-20, IDEX Membership ERC-20 (IDXM), Bitcoin BEP2 (BTCB), Waltonchain ERC-20 (WTC), KuCoin Shares ERC-20 (KCS), Kyber Network Crystal ERC-20 (KNC), Loom Network ERC-20 (LOOM), Ripple (XRP), Everipedia (IQ), Loopring ERC-20 (LRC), Maker ERC-20 (MKR), the Status of the ERC-20 (SNT), Ankr Network BEP2 (ANKR), OmiseGO ERC-20 (OMG), ^ american English ERC-20 (^american English), Polymath ERC-20 (POLY), Populous ERC-20 (PPT), Pundi X ERC-20 (NPXS), Parser ERC-20 (REP), Revain ERC-20 (R), Binance ERC20 (BNB-ERC20), Gifto BEP2 (GTO).

Exchange of cryptocurrency

The “Limitless Crypto Exchange” tab is available for a quick transition to an unlimited exchange in 200 digital currencies — 10,000 currency pairs.

How do I update TkeySpace to version 1.3.0?

  1. Go to Google Play on your device — My apps and games — find TkeySpace in the list of apps — click Update.
  2. Go to Google Play on your device-write TkeySpace in the search — click on the app icon — Update.
After the update, you will need to restore your wallet.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

Market Analysis on April 8, 2020: U.S. Stocks Opened Higher And Fell Back, Can BTC Be Alone?

Market Analysis on April 8, 2020: U.S. Stocks Opened Higher And Fell Back, Can BTC Be Alone?
[Today's Hot Tips]
1. [BCH is expected to be halved in 12 hours]
The data shows that the current block height of BCH is 629927, and there are 73 blocks from the block height of halving of 630,000. BCH is expected to have 12 hours left before the halving, which is around 23:00 on April 8. Note: BCH will be halved at a block height of 630,000, when the block reward will be reduced from 12.5 BCH to 6.25 BCH.
2. [Shanghai will accelerate the application of 5G, blockchain, etc. in the field of public health]
According to the First Financial News, the Shanghai Municipal Government website issued "Several Opinions on perfecting the Prevention and Control System and the Public Health Emergency Management System of Major Epidemic Situations of the Shanghai Municipal Party Committee and Shanghai Municipal People's Government of CPC." The opinions propose to promote the in-depth application of new technologies, new products and new models, strengthen the construction of public health emergency informatization, accelerate the application of 5G, blockchain and other technologies in the field of public health, and strengthen the integration of multi-source data, promote the application of health big data in the field of public health, improve the functions of disease prevention and control business information systems, support the collection and application of epidemiological survey data, and promote refined and intelligent management.
3. 【BTC raises difficulty to 14.22T】
It is expected that the difficulty of BTC will increase by 2.18% to 14.22T after 19 hours.
4. [Report: WeChat Pay has been sharply reduced in OTC trading on cryptocurrency exchanges]
According to the financial news on the chain, the pattern of Alipay and WeChat payment occupying the mainstream payment methods of OTC trading on cryptocurrency exchanges has recently undergone tremendous changes. Today, Alipay payment and bank card payment have become the main methods of OTC trading on cryptocurrency exchanges, and WeChat payment has almost disappeared in OTC trading. According to statistics on April 3, currently the USDT OTC channels of the three major exchanges (LOEx, Huobi, and Binance) only support WeChat payment merchants accounted for 7.35%, while Alipay payment merchants accounted for 50.34%, and 60.22% of merchants support bank card transfer payment.
[Today's market analysis]
Bitcoin (BTC)

https://preview.redd.it/5tzpxihokjr41.png?width=554&format=png&auto=webp&s=c3e048355e2828785fa119200c88c85bb32d8ad5
BTC fell slightly from around $ 7350 this early morning. It fell rapidly around 3:30. It briefly fell below $ 7100 and fell to a minimum of $ 7080. Then it rebounded slightly. Now BTC has returned to around $ 7150 for narrow range consolidation. The mainstream currency followed and consolidated, and both rebounded slightly after a sharp decline in the early morning hours. BTC is now reported at $ 7303.06 at LOEx Global, with a decline of 0.24% in the day.
Regarding the market, it was made clear yesterday. The current market is like a sudden illness, how can it recover so quickly. As U.S. stocks opened higher and fell back, the global capital was basically bottoming out again. The capital markets plunged a few times in the past, and the digital currency market can not being concerned only for itself. Therefore, so it is better to be cautious in this rebound.
Two months ago, people said that BCH will be halved, but today BCH is really about to be halved. Has it risen? No, the current block height is 629775, there are 225 blocks from the block height halving of 630,000. It is estimated that BCH will be halved at around 23:00 on April 8, and there is no expectation of halving the BCH. They are all concepts.
Operation suggestions:
Support level: the first support level is 7200 points, the second support level is 7000 integers;
Resistance level: the first resistance level is 7400 points, the second resistance level is 7700 points.
LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.
submitted by LOEXCHANGE to u/LOEXCHANGE [link] [comments]

Deribit Support Number +1-888-780-0222 ----- ^*&#[email protected]#

Deribit Support Number +1-888-780-0222
Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.
The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
The platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.
Deribit Features
Is Deribit Safe?
The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals.In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.Furthermore, IP pinning provides additional security by identifying a change of IP address during a session, and terminating it as a result. The platform also allows users to adjust their session timeouts, and the default timeout period for inactivity on an account of one week can be shifted to just one hour.
Despite this, it’s always best practice to only keep funds on an exchange when they are being used for trading. Lastly, Deribit has an insurance fund that is set up to cover the losses of bankrupt traders.The majority of trader positions should be reduced or closed by the platform’s real time incremental liquidation system, however bankruptcies still occur.
Therefore, while it may not be the best place to start live trading, it may still be a good place to learn how to engage in derivatives trading.
Deribit Support Number is open 24×7 wherever consistently. Customer care chairmen will be acquainted with assistance with all of the inquiries that are reoccurring in Binance and need brisk assistance.
submitted by degagerez768 to u/degagerez768 [link] [comments]

Deribit Support Number +1-888-780-0222 ----- ^*&&#[email protected]##$^

Deribit Support Number +1-888-780-0222
Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.
The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
The platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.
Deribit Features
Is Deribit Safe?
The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals.In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.Furthermore, IP pinning provides additional security by identifying a change of IP address during a session, and terminating it as a result. The platform also allows users to adjust their session timeouts, and the default timeout period for inactivity on an account of one week can be shifted to just one hour.
Despite this, it’s always best practice to only keep funds on an exchange when they are being used for trading. Lastly, Deribit has an insurance fund that is set up to cover the losses of bankrupt traders.The majority of trader positions should be reduced or closed by the platform’s real time incremental liquidation system, however bankruptcies still occur.
Therefore, while it may not be the best place to start live trading, it may still be a good place to learn how to engage in derivatives trading.
Deribit Support Number is open 24×7 wherever consistently. Customer care chairmen will be acquainted with assistance with all of the inquiries that are reoccurring in Binance and need brisk assistance.
submitted by kerkhistorici789 to u/kerkhistorici789 [link] [comments]

Deribit Support Number +1-888-780-0222 ----- ^*&&#[email protected]#@!#$

Deribit Support Number +1-888-780-0222
Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.
The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
The platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.
Deribit Features
Is Deribit Safe?
The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals.In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.Furthermore, IP pinning provides additional security by identifying a change of IP address during a session, and terminating it as a result. The platform also allows users to adjust their session timeouts, and the default timeout period for inactivity on an account of one week can be shifted to just one hour.
Despite this, it’s always best practice to only keep funds on an exchange when they are being used for trading. Lastly, Deribit has an insurance fund that is set up to cover the losses of bankrupt traders.The majority of trader positions should be reduced or closed by the platform’s real time incremental liquidation system, however bankruptcies still occur.
Therefore, while it may not be the best place to start live trading, it may still be a good place to learn how to engage in derivatives trading.
Deribit Support Number is open 24×7 wherever consistently. Customer care chairmen will be acquainted with assistance with all of the inquiries that are reoccurring in Binance and need brisk assistance.
submitted by narihua54 to u/narihua54 [link] [comments]

Deribit Support Number +1-888-780-0222 ----- ^*&&#[email protected]##

Deribit Support Number +1-888-780-0222
Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.
The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
The platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.

Deribit Features

Is Deribit Safe?

The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals.In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.Furthermore, IP pinning provides additional security by identifying a change of IP address during a session, and terminating it as a result. The platform also allows users to adjust their session timeouts, and the default timeout period for inactivity on an account of one week can be shifted to just one hour.
Despite this, it’s always best practice to only keep funds on an exchange when they are being used for trading. Lastly, Deribit has an insurance fund that is set up to cover the losses of bankrupt traders.The majority of trader positions should be reduced or closed by the platform’s real time incremental liquidation system, however bankruptcies still occur.
Therefore, while it may not be the best place to start live trading, it may still be a good place to learn how to engage in derivatives trading.
Deribit Support Number is open 24×7 wherever consistently. Customer care chairmen will be acquainted with assistance with all of the inquiries that are reoccurring in Binance and need brisk assistance.
submitted by kegelten56 to u/kegelten56 [link] [comments]

Deribit Support Number +1-888-780-0222 ----- ^*&&#[email protected]#%^#

Deribit Support Number +1-888-780-0222
Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.
The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
The platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.
Deribit Features
Is Deribit Safe?
The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals.In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.Furthermore, IP pinning provides additional security by identifying a change of IP address during a session, and terminating it as a result. The platform also allows users to adjust their session timeouts, and the default timeout period for inactivity on an account of one week can be shifted to just one hour.
Despite this, it’s always best practice to only keep funds on an exchange when they are being used for trading. Lastly, Deribit has an insurance fund that is set up to cover the losses of bankrupt traders.The majority of trader positions should be reduced or closed by the platform’s real time incremental liquidation system, however bankruptcies still occur.
Therefore, while it may not be the best place to start live trading, it may still be a good place to learn how to engage in derivatives trading.
Deribit Support Number is open 24×7 wherever consistently. Customer care chairmen will be acquainted with assistance with all of the inquiries that are reoccurring in Binance and need brisk assistance.
submitted by remitido56 to u/remitido56 [link] [comments]

Ripple Subreddit Rules, Helpful Links & Answers to Common Questions - READ BEFORE POSTING

You must read our rules before participating in Ripple
Helpful links and answers to common questions will be updated frequently so check back often
 
 
Ripple Subreddit Rules
https://www.reddit.com/Ripple/wiki/rules
 
Helpful Links
Ripple Insights - Top 9 Frequently Asked Questions About Ripple and XRP (Jan 18, 2018)
Ripple’s Ultimate Strategy; why XRP will increase in value
Removing inefficiency of international payments with XRP
Reasons to expect XRP to be the most popular bridge asset
"XRP is competitive now in the USD/MXN corridor"
Ripple's Decentralization Strategy Update
XRP Market Performance
List of Ripple Partnerships and RippleNet Implementations
 
People to Follow
Ripple on Twitter
Brad Garlinghouse, Chief Executive Officer at Ripple
Yoshitaka Kitao, executive chairman, CEO and president of SBI Holdings, Inc.
David Schwartz, Chief Cryptographer at Ripple | aka u/sjoelkatz
Stefan Thomas, Former CTO at Ripple, Co-creator of Interledger. Founder at Coil
Patrick Griffin, Senior Vice President of Business Development at Ripple
Miguel Vias, Head of XRP Markets at Ripple
Warren Paul Anderson, Product Manager, xRapid/XRP at Ripple
 
Hodor's XRP Blog
TplusZero - research & analysis on #XRP
 
Most Discussed Topics and Answers
● The Case Against BankCoin - Banks need an independent digital asset to enable truly efficient settlement
● Ripple Technology → Fast Payments → XRP → Fast Settlement
● Solving the chicken and egg problem - FI's bridging payments with XRP & companies saving money by holding XRP
● Banks hold XRP under a contractual agreement | Build liquidity to bridge payments to raise the demand for XRP
● How the global adoption of xRapid (XRP liquidity tool) would affect the value of XRP
● Besides instant cross-border payment settlement, XRP can capture other use cases, value that doesn't yet exist
● XRP Ledger has numerous technological advantages over blockchain systems that use proof of work
● Ripple is committed to making the XRP Ledger as decentralized as they possibly can
● Quantum-resistant signature schemes - Adding a new scheme is easy and fast
 
XRP Wallets
You need 20 XRP to activate a XRP wallet. Fees can be changed by the validators through the voting process.
The reserve requirement protects the XRP Ledger from spam or malicious usage.
 
When you are sending XRP to an exchange, destination tag is very important.
Destination tag is not needed when you transfer XRP to your own wallet address.
 
● XUMM by XRPL Labs | Developers
XUMM is a free app (iOS and Android) that makes sending, receiving and interacting with the XRP ledger easy & secure.
 
● Ledger Nano S | Tutorial | FAQ | Buy Online | Ripple Recovery Tool
Cryptocurrency Hardware Wallet
When you get your Ledger wallet, you must reset it and get a new set of 24 words seed before using it.
 
● The World Exchange | How to Create a Cold Wallet for Ripple
A free user-friendly and purely client-side wallet
 
● GateHub | Support | Network Statistics
GateHub XRP Web Wallet
 
Tools
Check XRP wallet balance - Bithomp | Graph | Transactions
Print raw information about an account, a transaction or a ledger - RPC Tool
 
Exchanges
The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC.
Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR.
You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
 
USD - US Dollar
Kraken | Bitstamp | Bitfinex | CEX.IO | Gatehub |
Exrates | Exmo | Mr. Exchange | Bitsane | Sistemkoin | BitBay | Quoine
 
EUR - Euro
Kraken | Bitstamp | Gatehub | CEX.IO | LiteBit.eu | Anycoin Direct
The Rock Trading | Bitsane | BitBay | BitFlip | Bitlish | Quoine
 
KRW - South Korean Won
Bithumb | Upbit | Coinone | Korbit | GOPAX | Coinrail
 
JPY - Japanese Yen
Kraken | Bitbank | Quoine | Mr. Exchange
 
CNY - Chinese Yuan
RippleFox | Ripple China | Fatbtc
 
TRY - Turkish Lira
Vebitcoin | BTCTurk | Koineks | Sistemkoin | Ovis
 
INR - Indian Rupee
Zebpay | Koinex | Unocoin | Bitbns | BuyBitcoin | BuyUcoin
 
AUD - Australian Dollar
BTC Markets
 
THB - Thai Baht
BX Thailand
 
MXN - Mexican Peso
Bitso
 
IDR - Indonesian Rupiah
Indodax | Quoine
 
RUB - Russian Ruble
Exmo | BitFlip
 
ZAR - South African Rend
Altcoin Trader
 
CAD - Canadian Dollar
Kraken
 
UAH - Ukrainian Hryvnia
Kuna | BTC Trade UA | BitFlip
 
GBP - British Pound
Cryptomate
 
BRL - Brazilian Real
Braziliex
 
SGD - Singapore Dollar
Quoine
 
AED - United Arab Emirates Dirham
BitOasis
 
PHP - Philippine peso
CX | Exchange
 
USDT - Tether
Poloniex | Bittrex | Huobi | OKEx | CoinBene | Upbit | HitBTC |
ZB.com | Gate.io | Sistemkoin
 
ETH - Ethereum
Binance | Bittrex | Gatehub | OKEx | OTCBTC | Upbit | HitBTC |
Bitsane | Mr. Exchange | CoinFalcon
 
LTC - Litecoin
Bitsane | Mr. Exchange
 
BTC - Bitcoin
Kraken | Bitstamp | Bitfinex | CEX.IO | Gatehub | Binance | Poloniex | Bittrex |
HitBTC | OKEx | Upbit | Huobi | BTCTurk | BTC Markets | CoinEgg | Exmo |
ZB.com | OTCBTC | Coinrail | Bits Blockchain | Triple Dice Exchange | Indodax |
Exrates | Qryptos | Gate.io | Bitsane | Bitso | Ovis | BCEX | BitBay |
Mr. Exchange | Orionx | CoinFalcon | Abucoins | BitFlip | LakeBTC | Coinbe
submitted by nvok to Ripple [link] [comments]

REAL LIVE TRADING ON BINANCE (Technical Analysis) - YouTube 7576$ Bitcoin, Komodo, Chainlink, NEO und Binance Coin in der Analyse BULL MARKET ANALYSIS 🚨 BINANCE KILLS BITCOIN SV? feat ... BITCOIN BREAKOUT TODAY!!!  Binance Leverage Trading, Will Compete With Bybit & BitMEX Bitcoin BTC To 100,000 In 12 MONTHS Following Binance US Ban Technical Analysis & Price Prediction Binance Coin BNB Technical Analysis - Nov. 06 - YouTube URGENT: BITCOIN DUMPED!!! Last Time To Buy!? - Binance VS ... Bitcoin chart analysis in Binance 1 hours - YouTube chart analysis of bitcoin in binance part 3 - YouTube Breaking Bitcoin Market Analysis - LIVE Trading, News, & Requests! Binance NMR RLC ETH!

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REAL LIVE TRADING ON BINANCE (Technical Analysis) - YouTube

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