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Decentralization

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.

#Exchange

Analysis: Centralized Exchanges vs Decentralized Exchanges

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Unlike centralized exchanges, DEXs allow direct, peer - to - peer trading ( P2P ) in cryptocurrency, where users control their funds.

Unlike centralized exchanges, DEXs do not function as a bank or traditional fiat currency exchange, but instead they allow direct, peer – to – peer trading ( P2P ) in cryptocurrency, where users control their funds.

 

Centralized vs Decentralized Exchanges

Centralized markets dominate the global volume of cryptocurrency trade with an overwhelming margin, and the trading volume is much more constant ( although it is still incredibly volatile compared to traditional stock systems ). Centralized exchanges can do so without any problems because trading on centralized markets does not involve any cryptocurrency movement. Digital assets in centralized markets are only transferred when they WITHDRAW from the stock market, not in all transactions. In general, cryptocurrency regulation is still a bit of a legal grey area – especially when it comes to decentralized exchanges. The massive armies of automated price robots for a given market bring rapid changes, so playing multiple markets at the same time offers some additional benefits for experienced algorithmic traders.

Centralized exchanges are fast because they are centralized and do not exchange assets in the chain. The advantages of legitimate central markets include offering substantial liquidity ( approximately 99 percent of cryptocurrency is done on central markets ), offering fiat on-ramp, offering greater trade functionality and the ability to use sophisticated trading strategies, institutional support, and compliance with the laws of the jurisdictions in which they reside. The decentralized exchanges ( DEXs ) are applications built on the dapp platforms ( such as Ethereum ) that use smart contracts to facilitate trade.

To make things more complicated, there are actually several models that are currently used by decentralized exchanges. Centralized exchanges continue to dominate the daily trading volume, primarily due to significant technological and user experience barriers that continue to separate centralized and decentralized markets.

The central exchange can be used as fiat on ramps, allowing customers to deposit money directly from their bank account to purchase cryptocurrency in a trustworthy and compliant manner. Also, the central cryptocurrency markets are capable of offering high – performance trading opportunities and other advanced tools that can attract institutional investors. Today, relays offer highly sophisticated web applications that can compete with the centralized exchange rate of cryptocurrency in terms of user-friendliness.

In general, centralized exchanges are a more straightforward point of entry for new people who are new to digital currencies. Centralized exchanges can also provide additional services for their customers, which are not yet available on decentralized markets such as margin trading, loss prevention, and lending. One of the criticisms of the centralized exchanges is that they oppose the decentralized world of the blockchain, which essentially gives up power to a third party.

More specifically, decentralization causes censors, which in the case of a decentralized exchange, means that no central authority could impose regulations, or even ban currencies and the exchange itself. Without a decentralized exchange, the people’s ability to invest in cryptocurrency is subject to governments, so that cryptocurrency is hardly more democratic than traditional capital markets. Governments can control centralized exchanges, and users are subject to authorities who can track and tax users at any time, or ban currencies.

Decentralized exchanges can vary considerably in terms of technology, lack of trust, security, legal consequences, economic consequences, and many others. Keep in mind that for many decentralized applications, one or more components can be off – chain centralized or have economic incentives to support a trend towards centralization. Most of the decentralized exchange protocols usually work with chips with the same technical implementation and are on the same distributed ledger platform.

 

Though the motive of cryptocurrencies was decentralization before decentralized exchanges can achieve the popularity of centralized exchanges, they will have to become more user – friendly, interoperable between different block architectures and increase their liquidity.

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#Ethereum

Are dApps Smart Contracts?

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Let's discuss what a decentralized application is and the different types of decentralized applications. We also present the list of the top 3 dapps.

Smart contracts are code pieces executed on the blockchain, without the need for a server.
Smart contracts take on the characteristics of blockchain transactions, which means that they are transparent, unchangeable and auditable.
By creating smart interconnected contracts, developers can create decentralized applications ( DApps ), complete programs running on the blockchain.
Besides, more complex arrays of Smart contracts and DApps can create decentralized autonomous organizations ( DAOs ).
Unlike centralized systems, where contracts are kept in walled gardens and protected by organizations that tax their customers for the services they provide, all smart contracts are stored on the blockchain, immutable and accessible to all.

 

Smart Contracts

What makes smart contracts so crucial in the expansion of cases of the blockchain is the fact that the terms and conditions of all parties are fully quantifiable.
Lisk’s network developers will be able to integrate Smart contracts into their side chains.
Smart contracts can mean specific business processes and can be combined on a blockchain to perform more sophisticated functions.
Similarly, dapps uses Smart contracts to connect to the specific blockchain on which they are based.

 

Cardano, Ethereum and NEO Smart Contracts

To encrypt Smart contracts in Cardano, you must use Plutus, who is based on Haskell, the language used to encrypt Cardano.

And it’s just what Cardano uses Haskell to encrypt their ecosystem and Plutus for their smart contracts.
Neo wanted to create a Smart contract platform that has all the advantages of an ethereal Virtual Machine, without paralyzing its developers with language barriers. In ethereum, you’ll have to learn the solidity of encoding Smart contracts, while in Neo you can even use Javascript to encrypt intelligent contracts.

Smart contracts and dapps should have a clear difference in the security of the network.
Smart contracts and dapp’s in the current ethereal network do not differ, although according to the definition of Smart contracts, both are two different things.
Smart contracts provide security to your system, remember that there is no interruption of the third party with smart contracts.

Omisego is an ERC – 20 chip on the Ethereum blockchain, designed to provide open financial services through both blockchain technology and traditional financial services.

Buterin imagined a system in which the computing power of the blockchain nodes could be used for more than just hashing out a work algorithm test.
Instead, Buterin argued, such processing power could be used to execute contracts and applications within the blockchain.
Neo is implementing many of the same solutions as Ethereum, supporting Smart contracts and dapps.
Neo’s private partnerships are impressive, but let us remember that Ethereum is the current leader in the evangelization of blockchains for private companies.

Ethereum was the first significant Blockchain platform to build a Turing – complete language for Smart contract writing on the blockchain and was quickly adopted as a platform of choice for the development of dapp.
If your application requires sovereignty and flexibility, then you can develop on your blockchain without having to deal with the complex network and agreed on parts of the software.

Most programmers write the Smart contract in stable because it is easy to read the code and most of them avoid learning how to assemble.
In any case, if Ethereum is the best-known and active blockchain to bring Smart Contracts and dapps today, we will probably see many alternatives that come to life and compete in the coming years.

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#Dark Web

Dark Web: Is Your Identity Being Sold on the Dark Web?

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If your identity is stolen, it is likely to be sold on the Dark Web. Millions of Americans' identity has been stolen on the dark web.

If your identity is stolen, it is likely to be sold on the Dark Web. Millions of Americans’ identity has been stolen, check whether your information has been compromised on the dark web.

Identity theft occurs when a criminal steals your data and uses it himself or sells it to third parties – often on the Dark Web.

Your information can be sold in seconds on the Dark Web for almost nothing.

 

The Dark Web

Anyone can visit dark Web pages, but it is challenging to determine who is behind the pages.
People who operate in closed, totalitarian societies can use the Dark network to communicate with the outside world.
And given the recent revelations about the US and the UK government’s internet usage, it may be wise to take your communications to the Dark Web.
In March 2015, the British government launched a dedicated cybercrime unit aimed at tackling the Dark Web, with particular emphasis on cracking down on dangerous crime rings and child pornography.
Besides, Dark websites fall from time to time because of their Dark nature.

If you use TOR on the dark web for anything other than watching cute kitten photos, you should seriously think about your privacy and safety.

A so-called Hidden Wikipedia, known as the Hidden Wiki, offers some tips on dark web content, but it can contain illegal sites.
Since the Tor servers provide users and publishers with complete anonymity, there is no way to regulate or control the content, products, and services offered on the dark web.
There are people and things on the dark web that you will want to avoid.
Here are two examples of complex web content and actions that would raise legal concerns.

 

The TOR

Today, Tor is a critical part of the dark web, as we will discuss below.
Tor is by far the most popular and easiest way to access the dark web, although it is possible through other secure browsers such as Freenet and the web design Invisible.
You can download Tor from the official Tor website and install it on your laptop or PC, after which you can upload a vast, dark web and browse.
Tor’s defenders point out that evil things have always been part of the internet, and many of its uses are perfectly legal in an age of massive government oversight.

 

Open Web & Dark Web

Tor itself is not a dark web, but it is a way of browsing both open and dark web, without the possibility of identifying or tracking user activity.
In many ways, the dangers of the dark web are the same as the risks you might encounter on the open internet.
However, there is evidence that criminals are more likely to interact with victims on the internet than on dark networks.

Here’s what most people think of the Dark Web: an electronic black market where everything is available.
Drugs, pistols and even rhinoceros are for sale on The Dark Web, but people still need to exchange goods physically, The Dark Web is undoubtedly much more dangerous when it comes to distributing illegal digital materials such as child pornography efficiently.

An examination of price differences in Dark Web markets compared to real or global prices has been tried and tested, as well as research into the quality of goods received on the Dark Web.
Distributed Denial of Service ( DRDoS ) attacks was also carried out by exploiting the Dark Web.
Several websites analyze and monitor deep web and dark web for threat information.

 

Dark Web & Deep Web

When people talk about “the Dark Web,” they can confuse the term with “Deep Web” – and vice versa.
When most people talk about the Dark Internet, the Black network, Dark Hyperspace, Deepnet, Clearnet or Shadow network, they usually speak about Dark networks – unless they are scientists.
Sharing peer-to-peer files ( also known as torrents ) helps users to transfer copyrighted material, such as music illegally, and file sharing hubs are beginning to appear on the Dark Web.

 

DuckDuckGo

Although DuckDuckGo is designed to provide additional privacy and encryption during web searches, you should not think of it as a dark web version of Google.
Besides, corporate IT departments often browse the Dark Web in search of stolen data and compromised accounts, and individuals can use IT to search for signs of identity theft.
Also, WikiLeaks – the site that publishes classified official material – has a house on the Dark Web.

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