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How Blockonix is beating all odds in becoming a global cryptocurrency exchange platform

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Blockonix bitindia

Formerly known as Bitindia, the cryptocurrency exchange platform Blockonix did not only change its brand name but also its market scope by positioning itself to the international cryptocurrency market. Blockonix is a decentralized cryptocurrency exchange platform different from the other centralized approaches a lot of other cryptocurrency exchanges uses.

 

How Rebranding has positioned us to engage in the international Cryptocurrency market

Blockonix was originally borne in India as Bitindia the local market was our main market scope till we decided to shift the cryptocurrency platform due regulatory pressures on cryptocurrency in India.

Although we earlier viewed moving from India to another location to launch our cryptocurrency exchange and trading platform as a major challenge, we turn this challenge into an opportunity to capture the virgin global cryptocurrency market. To prepare us to take our platform to the global scene we adapted some of the top level industry class blockchain technology and practices. These include securing hundreds of payment gateways around the world, opting for a decentralized instead of a centralized cryptocurrency exchange and deploying the lowest transaction fees on our exchange platform.

We developed our own native BDT tokens which can be directly swapped from Blockonix website. We aim to make BDT token as transferable as possible by making it exchangeable for all of the major cryptocurrencies available on the market. Using our own native token on Blockonix makes it practicable for us to keep exchange rate variations to a low level making the tokens more useful and reliable.

 

Why our Decentralized approach ensures a better security of our user funds

Lately numerous cryptocurrency exchange platforms around the globe have fallen prey to organized hacking causing billions of dollars in financial losses. We explored better methods to significantly reduce the risk of successful hacks related financial losses on our platform. We found out that most of the platforms that fell victim to these hacks either had a centralized arrangement or had flaws on their smart contracts.

To ensure the highest possible level of security for our platform we have developed a series of procedures which we have deployed on Blockonix. Our system is 100 percent decentralized meaning we don’t store user data at any central location. Even a successful hack on our system will lead the hacker to nothing since no sensitive user data is stored on our system. We store the data on decentralized nodes in an encrypted format. Even though a user node is compromised by a hacker breaking the cryptographic encryption to be able to view the data in plain text is practically impossible. This is one the many security layers we deployed on our system.

We acknowledge that we cannot be 100% perfect in safeguarding our system by our self alone, that is why we run a bounty program with a very high price tag to allow anybody who can identify any security flaw with our system to show us and we pay them the bounty. In this way we are certain that our system can be 100 percent secure at every time.

 

Capturing the Global Cryptocurrency Market

There is no doubt that cryptocurrency is the future of money the question is about when and how would you like to join the crypto-community. At Blockonix we believe that developing a strong community driven infrastructure for interfacing cryptocurrencies and fiat money is an important step in attaining this future.

Our systems are developed for the global market to allow instant low fee transactions from any part of the world in a highly secure and very reliable blockchain. We strive to maintain the highest levels of security in the platform and remain uncompromised by any malicious actor inside or outside of our platform.

#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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#Blockchain

Is the Waves Blockchain platform now dead?

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There is a list of outright scams and which is suggest that Waves platform is definitely not worth for future cause if you’ll still do that you’ll lose out.

Waves Platform

Waves is an open-source blockchain platform, designed for mass adoption. It launches in 2016, waves have been kept working to fulfill its vision of creating a truly unique blockchain product that will be an industry standard in providing the most versatile and straightforward tokenization for everyday use, all this depends on the success of waves platform.

 

Features of Waves

The key feature of the waves, it keeps decentralized assets such as BTC/ETH on the centralized exchange. Some hacks like MtGox and Bitfinex are a good example of this level of stupidity. Wavedex is a decentralized exchange built in waves blockchain.

 

Other features of the waves are given below

Smart contracts

Tokenization

Fiat Gateways

Best of both world

KYC/AML

ICOHUB

Market Cap of Waves

As per CoinMarketCap the total circulating supply of WAVES is 100 million tokens, and the current price of each unit is $6.88, which makes its market cap approximately $686 million.

 

Is Waves Platform Dead

Perhaps, there is a list of outright scams and which is suggest that this platform is definitely not worth for future because if you’ll still do that you’ll lose out. Waves is a broken and completely misleading platform. They used hidden bugs forms which is hard to identify for an individual who is investing in that.

 

Key factors which prove waves platform dead

1. You deposit BTC and you can’t do anything, the platform suggests you get to the faucet or a forum and beg for waves so you can make your first trade. But in the waves, you cannot buy it with BTC because to buy waves you should already have waves and for the further things as well.

2. No contact of support system, they want you to post publicly about your problems on their forum but they have a censored and moderate platform to control so if you are facing any problem and posted there, the public will never see it as they control this medium.

3. A BTC fee of .001 for a gateway fee, but after depositing BTC here losing a percentage and then losing more of the scam waves token, now you have to pay a gateway fee for using a blockchain to withdraw it and that equals $CDN.

4. After charging over the site does not work and gives the error.

 

So here it can conclude now that waves platform is equaled to worth because of all these loopholes and also it is not that much updated to compare with other cryptocurrencies out there.

So, you can now that waves platform is dead.

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#Bitcoin

Bitcoin: Don’t let whales scare and eat you: HODL Bitcoins

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More than 55 percent of bitcoins right now sit in wallets that have balances upwards of 200 coins," as indicated by Diar. Whales might be scaring you.

42% of Bitcoin Holders “did not” sell their Bitcoins even at $19783

More than 55 percent of the world’s circling supply of bitcoin is controlled by under 1 percent of all BTC wallets, as indicated by cryptocurrency explore firm Diar. What’s more, a staggering 42 percent of those bitcoin holders did not offer their BTC in 2017, notwithstanding when bitcoin prices moved toward a record high of $19,783.

Investigators at Diar translated the bitcoin whales’ “hold” positions to imply that it is possible that they lost the private keys to their wallet addresses — or they’re long haul holders who are bullish about the market. People who hold tremendous amounts of bitcoin are designated “whales.”

 

“More than 55 percent of bitcoins right now sit in wallets that have balances upwards of 200 coins,” as indicated by Diar. “Also, astonishingly, 33% of the bitcoins that are sitting in these wallets have never made an active exchange.”

 

So here’s the rundown, as indicated by Diar’s examination:

  • 1 percent of all wallets control $100 billion in bitcoin.
  • 55 percent of the world’s bitcoin sits in wallets with balances surpassing 200 BTC (or $1.28 million at the present bitcoin price).
  • 42 percent of those BTC wallets made no cordial developments amid the price crest in December 2017.
  • 33% of the bitcoins that are sitting in these wallets have never made an active exchange.

There has been across the board theory that bitcoin prices are being controlled by bitcoin whales, to such an extent that the U.S. Division of Justice propelled a criminal examination concerning price control in May 2018, as the Inquisitr already announced.

Many market members said they wouldn’t be astounded to discover occurrences of misrepresentation given the misty, unregulated nature of the advanced cash market.

 

Tim Draper Sets $250,000 Bitcoin Price Target

One bitcoin whale is reputed to be tech tycoon Tim Draper, an acknowledged cryptocurrency evangelist.

As the Inquisitr already revealed, Draper broadly obtained 30,000 bitcoin at $600 each in 2014, when few individuals had known about cryptocurrencies.

Tim has apparently never sold his reserve, which today is worth more than $192 million. That is a profit of $174 million of every four years.

Draper as of late set a $250,000 bitcoin price focus for 2022. Regardless of the ongoing bear market, the financial speculator remains by his expectation.

“I’m supposing $250,000 a bitcoin by 2022,” Tim Draper said. “They will believe you’re insane, yet trust it. It’s going on and it will be marvelous!”

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