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Cryptocurrency News & Discussion

The official source for CryptoCurrency News, Discussion & Analysis.
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r/CryptoMarkets

FOREX community for cryptocurrencies. Tags: mt gox bitcoin, long term potential, open source exchange, low inflation rate, demand and price, technical analysis, fundamentals, Bitcoin, Ethereum, Litecoin, Monero, Dash, Augur, token, volume, oscillator, RSI, stochastic, trend, sentiment, strategy, scam, coin, coinmarketcap, altcoin, Peercoin, script, blockchain, PoW, PoS, Proof of Work,
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Project Oblio

We're developing an upvoting site with a financially-incentivized algorithm to identify bots and fake accounts. You can post here for now, but be wary... See the sticky for more important info
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Watch This News ---> Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise

Watch This News - Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise submitted by Zlaker01 to YouTube_startups [link] [comments]

Watch This News ---> Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise

Watch This News - Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise submitted by Zlaker01 to CryptoCurrencies [link] [comments]

Watch This News ---> Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise

Watch This News - Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise submitted by Zlaker01 to Interestingasfuk [link] [comments]

Watch This News ---> Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise

Watch This News - Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise submitted by Zlaker01 to GetMoreViewsYT [link] [comments]

Watch This News ---> Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise

Watch This News - Bitcoin Hailed A Success By China, Will Binance Support 180 Currencies, ETH Loans Rise submitted by Zlaker01 to SmallYoutubers [link] [comments]

Binance Expands Fiat Onramps, 15 New Currencies Now Support Bitcoin, Ethereum, XRP Purchases

Binance Expands Fiat Onramps, 15 New Currencies Now Support Bitcoin, Ethereum, XRP Purchases submitted by The-Crypto-Portal to u/The-Crypto-Portal [link] [comments]

Binance Expands Fiat Onramps, 15 New Currencies Now Support Bitcoin, Ethereum, XRP Purchases

Binance Expands Fiat Onramps, 15 New Currencies Now Support Bitcoin, Ethereum, XRP Purchases submitted by n4bb to CoinPath [link] [comments]

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash submitted by n4bb to CoinPath [link] [comments]

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash submitted by asmajda to CryptoStock [link] [comments]

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash - The Daily Hodl

Binance CEO Predicts Amazon Will Launch Its Own Currency, Plus Bitcoin, Ripple and XRP, Ethereum, Tron, IOTA, Cardano: Crypto News Flash - The Daily Hodl submitted by ulros to fbitcoin [link] [comments]

Live Crypto Currency News Analysis & Bitmex Binance Crypto Trading signals - The Bitcoin Forum

submitted by BitcoinTraderfx to CryptoNews [link] [comments]

Bitcoin Daily: NYDFS Takes New Look At Virtual Currency License; Binance To Add Support For Crypto/Fiat Trading - pymnts.com

Bitcoin Daily: NYDFS Takes New Look At Virtual Currency License; Binance To Add Support For Crypto/Fiat Trading - pymnts.com submitted by prnewswireadmin to cryptonewswire [link] [comments]

Crypto Twitter Clamors for Binance to Add XRP as Base Currency • Live Bitcoin News

Crypto Twitter Clamors for Binance to Add XRP as Base Currency • Live Bitcoin News submitted by bitnewsbot to bitnewsbot [link] [comments]

Pteria DAO and the PTERIA token

PTERIA – The AR app for Brands backed by PewDiePie (Biggest Youtuber on earth)
“An innovative way of advertising & earning rewards”
Just tweeted by The Crypto Dog (220k followers on Twitter): https://twitter.com/TheCryptoDog/status/1324396212926119936?s=20
1) What?
PTERIA is the in-game token that is used on Wallem. Wallem is an AR app Pokemon Go like, where brands can place their challenges and events, and create an interactive and exciting experience for the users.
Daily there are competitions, like yesterday where there was a prize of 5 Iphone’s 12.
To participate, users needed to pay with PTERIA tokens (5 PTERIA, which are 35$ at current price). There were more than 6,000 participants (6,000 * 35$ = 210,000$)
Users needed to compete against other in a challenge of who could reach first to 666 pumpkins, which are found in the streets within your area.
There will be daily competitions, this is finally a project with a real use case and a working app.
PTERIA in the future will be implemented in other projects as well.
2) Public Exposure
I think these guys have great connections and must be at least a team of 20+.
They released the app 4 days ago (as well as trading of $PTERIA) and their first influencer was PewDiePie, which seems that will be working as a brand ambassador for Wallem. I think, this is just the beginning and soon we will be seeing PTERIA on every corner of CT.
• Youtube (PewDiePie video): https://www.youtube.com/watch?v=nDy5xcX21A8&t=75s
• The Crypto Dog (220k+ followers) https://twitter.com/thecryptodog/status/1324396212926119936?s=21
• Bitcoin.com: https://news.bitcoin.com/pewdiepie-joins-the-blockchain-ar-game-wallem-players-can-buy-youtube-stars-nft-skin/
• Retweeted by “The Wolf of all Streets” (130k Followers on Twitter): https://twitter.com/MikiGiancarli/status/1322985434583076868?s=20
• First NFT sale was of 22,500$ (57.75 ETH) & second was 23,000$ (60 ETH): https://opensea.io/assets/0xdf65d02348ba94d58cd9a46112d8bd4b42cbc351/1/
3) Why?
4) Links
submitted by arryanna to CryptoMoonShots [link] [comments]

Swipe October 2020 Updates

Swipe October 2020 Updates

https://preview.redd.it/hst7htjbn4x51.jpg?width=1280&format=pjpg&auto=webp&s=4bd1c3374be47429ff1fe60abf46046dd845c493
At Swipe, the team always makes sure to listen to the voices of our users. In October, the team has announced various Swipe Improvement Proposals (SIP), product upgrades and migration, additional coin listings, and partnerships to make your cryptocurrency experience as easy as possible.
Swipe Verified Pages
Swipe’s Instagram, Facebook, and Telegram accounts are now officially verified. Make sure to follow only the official pages of Swipe to get the latest offers, news, product developments, and updates.
Also, please be reminded that Swipe has only two official channels:
T.me/SwipeWallet (verified)
T.me/Swipe (Announcement Channel)
Swipe Discord Channel
The team has officially opened a Discord channel to connect with users who have Discord accounts.
Swipe gave away a total of $1,000 in Swipe Token (SXP) to 10 random winners who joined the Discord channel and followed Swipe’s official Twitter account. The ten winners were announced last October 6 on Swipe’s Discord channel.
Updates on Swipe Cards & Migration
The Swipe Slate card is now upgraded to 8% cashback with $30,000 referral rewards activated immediately, same rebates, and on-chain staking rewards with governance. The monthly spending limit for Swipe Slate is also now upgraded to 50,000 Euros.
Other Swipe cards such as Saffron, Sky, and Steel will be migrated to the Binance card platform. Users of these cards will be able to use it and SXP lockups via their Binance account, including the migration of benefits and rebates.
SXP lock-up card tiers for Binance cards and Swipe cards ordered on Binance.com will be released soon to match up to existing benefits, perks, and rebates. Swipe Slate will remain on the Swipe Wallet platform for SXP Elite users.
This move shows Swipe’s commitment to push the Swipe Issuing platform products to businesses, like Binance, which will help the SXP deflationary ecosystem.
Swipe Improvement Proposals
Last of October, the Swipe team announced on its official channel the voting procedures for the Swipe Improvement Proposals (SIP) on Swipe Governance.
On October 5, Swipe announced the voting procedure for the Swipe Improvement Proposal 1 (SIP-1). Those who staked SXP can vote to upgrade the staking contract to add a reward claim period controlled by SXP holders. On October 8, the team announced that the SIP-1 has now passed with 3,456,709 $SXP staked for YES while 0 SXP for No.
SIP-3 was then made available on Swipe Governance last October 22. Staked $SXP can vote on upgrading the staking contract to add an unstake period for $SXP collateral. This proposed unstake contract upgrade enables a dynamic period in which new stakers have to wait to be able to remove their collateral from the network via a decentralized trustless system. On October 25, SIP-3 has been passed, with 5,283,856 $SXP staked for YES while 119,080 $SXP for NO.
This was followed by the announcement of the voting procedures for the SIP-4. Those who staked $SXP can vote in favor of, as well as against, the increase in the daily staking rewards for on-chain $SXP users securing the Swipe Network. However, SIP-4 had an issue in execution due to inadvertently adding a “space” in the proposal parameter, which throws a smart contract error. This was tested before deploying, and when it was copied, the space was accidentally added in.
The team re-proposes SIP-4 via SIP-5, which is now available on Swipe Governance. This proposal corrects the parameter with SIP-4.
View the details of the Swipe Governance Proposals here: https://app.swipe.org/dashboard
Coin Listings
Swipe has added several coin listings on its platform. Adding to its list of supported cryptocurrencies are Venus Protocol ($XVS), Near Protocol ($NEAR), Kusama ($KSM), Ocean Protocol ($OCEAN), Filecoin ($FIL), and $AAVE. Swipe users can now buy and sell these cryptocurrencies with credit/debit cards, instant exchange, and trading, and spend it using Swipe Visa cards.
Swipe Visa Fund Sources
Swipe Visa Cardholders can now select $BUSD and $USDT funding sources in the “Card” tab on Swipe Wallet mobile application. Use Swipe card and convert fiat in real-time and earn up to 8% cashback and top brand rebates.
Swipe Visa Cards in US
Swipe Visa Cards are now available in the United States (excluding New York) with invites already rolled out last October 9.
Virtual Cards will be issued with Apple Pay, Google Pay, and Samsung Pay enabled. Physical cards will be shipped soon. Users can now finish their Social Security Number (SSN) verification to receive the Virtual Card. Physical cards will be linked and will activate your Digital Checking account.
The team also announced its plans to launch and an enhanced cashback program in the region soon. Swipe Visa card US users can earn up to 20% additional cashback (on top of the up to 8% Bitcoin cashback offer) at participating top and local retailers.
SXP Wrapped in BSC
$SXP wrapped on BSC is coming. The team will enable fee-free wraps and launch cross-chain staking when this deploys. This will save users high fees and latency currently faced on Ethereum.
Swipe Slate Staking Rewards
Swipe has distributed the first week and second week of Swipe Slate on-chain staking rewards to Slate cardholders last October 13 and 20. Swipe Slate cards can be ordered with a 30,000 $SXP stake lock up, which includes 8% Cashback in BTC, top brand rebates, and on-chain staking rewards.
Find out all the details: swipe.io/cards
New Executive Appointments
Swipe announced this month its new executive appointments. Henry Niduaza is appointed as the new Chief Technology Officer, Michael Belisario as Chief Information Security Officer, and Caroline Santos as Chief Marketing Officer. The new appointments are another important step in Swipe’s growth strategy.
Chief Executive Officer (CEO) Joselito Lizarondo believes that this new corporate structure affirms Swipe’s commitment to strengthening and growth to best serve its clients at all stages of their cryptocurrency journey.
SXP/INR Trading
Swipe and Wazirx, a trusted Indian Crypto Exchange platform announced on October 20 that Wazirx traders can now buy, sell and trade $SXP in the Indian Rupee (INR) market of Wazirx.
Start trading today: https://wazirx.com/exchange/SXP-INR
SXP on SYRUP Pool
PancakeSwap is planning for SXP farming (100,000 SXP) for SYRUP stakers. It is the fifth Syrup pool project to be announced by PancakeSwap.
The SXP staking campaign will run for 200,000 BSC blocks from block 1582740 to 1782740 (approximately 6.5 days with a block time of 3 seconds), which means that there will be 0.5 SXP given out to SYRUP holders in each block.
BEP20 SXP will also be circulating and transferable on BSC when PancakeSwap starts the SYRUP pool, so users will be able to harvest your SXP tokens and trade on PancakeSwap at any time.
Also, earn $CAKE by being a liquidity provider for $SXP-BNB on Binance Smart Chain with double rewards for approximately seven days followed by 1x on-going. To wrap your $SXP from ERC20 to BEP20, just deposit $SXP into your Binance Account and withdraw via the Binance Smart Chain option. The Swipe Wallet app now supports BEP20 BSC deposits for all supported coins.
Simply use the same address you normally use to deposit ERC20 based supported cryptocurrencies to deposit Binance Smart Chain BEP20 based ones such as $SXP, ETH, etc.
Spend Fiat Using Swipe Visa Cards
On October 23, Swipe announced that Swipe Visa card holders can directly use fiat currency as their funding source. This three-month pilot program lets users spend USD, GBP and EUR while earning up to eight percent cashback in BTC, SXP or BNB.
🇺🇸 🇬🇧 🇪🇺 residents can order now 👉 sw.pe/Cards
$20K Weekly Buy Limit
Swipe Wallet verified app users can now enjoy double the weekly limits at $20,000 per week for Visa and MasterCard credit and debit card purchases that support 3D-Secure (3DS).
SwipeX
SwipeX is now ready and part one of SwipeX will be announced within this week.
SwipeX will build the foundation for what it states will be a drive to crypto finance forward. More details on SwipeX and part one to be announced. $SXP SXP
---
Stay up-to-date with all the latest news from Swipe
Website: https://swipe.io
Twitter: https://twitter.com/SwipeWallet
Facebook: https://facebook.com/Swipe
Instagram: https://instagram.com/Swipe
Medium: https://medium.com/Swipe
Telegram: https://t.me/SwipeWallet & https://t.me/Swipe
LinkedIn: https://www.linkedin.com/company/swipewallet
YouTube: https://youtube.com/SwipeWallet
submitted by SwipeWallet to Swipe_io [link] [comments]

I converted my moon to nano and I think I made a mistake 'AMA'

Because I am a degenerate gambler (who tries to quit) I transferred the nano almost immediately to binance and open a 125x position on bitcoin. I hope you will not ask if long or short because you know how bitcoin moved in the last days. It does not matter, I got liquidated.
This is what most of the gamblers do with money that falls from the sky, they gamble it all and 90% of them also lose it all.
Now, without any moon I think I missed the chance to be part of this very big movement, that is crypto currency. Because if crypto succeeds, as I think it will, this subreddit might be the main source of news for everyone and looking of how hard is to get some moons now, I really think I blew it.
I love nano, and I bough back, but how do I get my moons back on reddit? I can buy them also but where do I store them securely outside of reddit?
Also posts like this are making me think /cryptocurrency is heading the right way. So if you want 200 moons it seems you have to do a post at least as good as that. Damn.
submitted by done8989 to CryptoCurrency [link] [comments]

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by j0j0r0 to ethereum [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Recommended place to buy bitcoin here?

Hello there, first time lurker. I’ve been looking at crypto for a bit since the start of covid and am amazed at recent news of publicly listed companies like MicroStrategy and Square using their treasury to buy bitcoin. Even more so it was me missing the opportunity to buy btc at P200k in march!
Anyway, i’ve been looking at local options and have found Coins, Bloom, Buybitcoin, PDAX, etc. which would you recommend and why? I find that Binance keeps their currency in USD so i’m not exactly comfortable trading there.
Thanks in advance!
submitted by perrythedogwalker to phinvest [link] [comments]

Withdraw Bitcoin from Binance to desktop wallet

Hello together I am a very new Bitcoin user. I have purchased Bitcoin with Fiat currency on Binance and would prefer to store it with me rather than with Binance. If I want to send it from Binance to my Electrum Wallet I would be charged about $6.20 in fees. This seems like a lot to me. Is there a way to reduce the fees? The transaction would not be a priority, but I don't know if I can set this in Binance. Thanks for your advice.
submitted by crashwinston to BitcoinBeginners [link] [comments]

Withdraw bitcoin from Binance to desktop wallet

Hello together I am a very new Bitcoin user. I have purchased Bitcoin with Fiat currency on Binance and would prefer to store it with me rather than with Binance. If I want to send it from Binance to my Electrum Wallet I would be charged about $6.20 in fees. This seems like a lot to me. Is there a way to reduce the fees? The transaction would not be a priority, but I don't know if I can set this in Binance. Thanks for your advice.
submitted by crashwinston to Bitcoin [link] [comments]

19.10-26.10 Good Crypto Weekly Market Summary

19.10-26.10 Good Crypto Weekly Market Summary
Quick weekly news:
  • Bitstamp, one of the world’s largest cryptocurrency exchanges, has introduced an insurance policy that covers the theft and other losses of user funds held on its platform.
  • Binance Destroys $68 Million of BNB in Most Expensive Burn to Date
  • Binance recorded an all-time high spot trading volume in Q3
Other notable events include:
- The Central Bank of the Bahamas has officially launched its national digital currency, the sand dollar
- PayPal will be offering trading and transaction of bitcoin, bitcoin cash, ether and litecoin in the next few weeks
Also, be sure to check out top altcoin gainers and losers of the week
PayPal’s play
PayPal will be offering trading and transaction of bitcoin, bitcoin cash, ether and litecoin in the next few weeks to its 346 million customers and 26 million merchants through a partnership with Paxos Trust Company, although for some users, the features are already available. The New York State Department of Financial Services (DFS) has granted the first “conditional BitLicense” to PayPal, a regulatory arrangement where interested companies can operate in the state’s “virtual currency marketplace” by working with already chartered firms. “DFS will continue to encourage and support financial service providers to operate, grow, remain and expand in New York and work with innovators to enable them to germinate and test their ideas,” the watchdog said. Many in the industry see this as a year-defining event that could rapidly expand crypto’s pool of potential users. Others take umbrage that the payments firm will not initially allow users to transfer crypto outside of the PayPal network. “You own the cryptocurrency you buy on PayPal but will not be provided with a private key,” the company wrote in a help post.
It’s official
The Central Bank of the Bahamas has officially launched its national digital currency, the sand dollar, an attempt to reduce the friction of bringing financial services to its dispersed, and often underbanked, population. This marks the first official deployment of a central bank digital currency (CBDC), which will be rolled out initially to private-sector banks and credit unions. Personal wallets are secured with multi-factor authentication security and will be mobile-based, servicing the 90% of the population with smartphones. The sand dollar is backed 1:1 to the Bahamian dollar (BSD), which, in turn, is pegged to the U.S. dollar.

https://preview.redd.it/mi0odgtajgv51.jpg?width=1200&format=pjpg&auto=webp&s=93f8185bd1cadddb82145201d533969d59fc0fa2
submitted by Kononenko_Ivan to GoodCrypto [link] [comments]

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