Connect with us

#Blockchain

What makes Blockonix the best Ethereum based decentralized exchange

Published

on

Blockonix is one such decentralized crypto Exchange which was initiated in April 2018, from Malta. Blockonix is highly popular and reliable among other DEX

Introduction

Thanks to the Blockchain solution, which has spurred various new technologies that have been providing useful real-world Applications. Facilities like smart contract, decentralization, Proof of Work consensus mechanism, Distributed Ledger are connected and put forth before us in a way never imagined before. Precisely, it is the interconnection and the usage methodology that is the power of the Blockchain technology that Satoshi Nakamoto has invented. Decentralization specifically is the key to the security of the cryptocurrencies. But the cryptocurrency exchanges are not Decentralized up to the mark. Hence, due to their centralized nature, and in turn lack of security, we constantly witness various hacks where huge amounts of funds are stolen from the exchange. Therefore Decentralized exchanges have come into the picture more recently.

 

Blockonix

Blockonix is one such decentralized crypto Exchange which was initiated in April 2018, from Malta. Blockonix is highly popular and reliable among many other decentralized Exchanges for a number of reasons.

Below are some of these reasons which makes Blockonix one of the best Ethereum based decentralized exchange.

 

Decentralization of Blockonix

Blockonix is highly decentralized, specifically 100% decentralized in nature, as there is absolutely no human intervention when it comes to the transnational confirmations and order matching. The Blockonix exchange uses smart contract functionality in order to achieve so and therefore there is absolutely no room for the discrepancies or errors caused by the humans as the computer takes care of everything.

 

Security at Blockonix

As the cryptocurrency exchange is inherently designed to be decentralized in nature, security is automatically incorporated within its domain. It is well known from the fact that the Centralized exchanges store all the funds under their domain, but in case of decentralized exchanges, the funds are absolutely held by the owners itself and not any other person. Even the private keys are which are used on Blockonix are not recorded by the team members.

 

Amazing fee structure at Blockonix

When it comes to the trading, Blockonix probably stands at number one position relative to its centralized and decentralized counterparts. Blockonix offers a great deal by offering 0.1 % of the transaction fee. Also, an additional 70% discount is available on this fee, if the users choose to undertake a trade with their native cryptocurrency token BDT. This particular feature is probably the one which makes Blockonix one of the best Ethereum based DEX in the market.

 

Development is the focus of Blockonix

The project members at Blockonix are highly dedicated to improving the crypto exchange and do not look out it as a way to generate revenue. This can be clearly evident from their policies as all the transaction fees which they will be receiving would be converted into their native cryptocurrency token bdt and would be sent to a burn and risk which would indirectly increase the market price and valuation of the token profiting all the BDT to converters token holders Blockonix and name not exclusively spend their time money as well as energy on security as due to decentralization takes care of everything.

 

Blockonix has a wide range of Ethereum based tokens

The Blockonix listed almost 100 Ethereum based tokens on the first day of its launch itself and further additions have been made since then subsequently. Having such huge screen of options to choose from, at a single place is hell rare. Therefore Blockonix integrates each and every aspect required, in order to provide a world-class experience to its customers with a minimal fee.  

Decentralized Crypto exchange Blockonix is one of the best of its kind due to the amazing functionalities and interfaces that the exchange provides. It would absolutely gain lots of attention within the crypto domain, as more number of centralized exchanges would experience downfalls.

 

Closing thoughts on Blockonix

Luckily due to the cryptocurrency regulations in India, the team members availed an opportunity to convert their initiative to a global scale and launch an international decentralized ethereum based cryptocurrency exchange Blockonix. Otherwise, they would have been left with a normal domestic cryptocurrency exchange in India. It offers amazing referral incentives, in order of increasing the popularity as well as the reach of the ecosystem towards more number of people throughout the world.

#Bitcoin

How Accepting Bitcoin Can Help Your Business

Published

on

Education will be essential to increasing Bitcoin’s acceptance and usage by merchants, institutions, and individuals. Start accepting Bitcoin for business.

Recently, cryptocurrencies and bitcoin have become the main topics in the financial industry. A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining characteristic of a cryptocurrency and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies have their benefits and drawbacks. The paper elaborates different aspects of cryptocurrencies, starting with their early development, challenges and risks, opportunities, advantages and disadvantages, and their future. Also, the paper covered issues related to the practical and technical function of cryptocurrencies. It was concluded that it is not easy to predict the future of cryptocurrencies since there is a lot to be done especially in the field of formal regulations. However, the banks and other financial institutions should see and consider cryptocurrencies as an alternative for the financial transactions in the future.

 

Faster, Cheaper Payment Solution

Bitcoin transactions can occur at any time, are fast and have lower fees. The average Bitcoin transaction is executed in 10 minutes with fees for simple P2P transfers to remittances coming in at under 1%. This is due in large part to the fact that traditional third-party financial institutions like banks are removed from the transaction process. Merchants and individuals using bitcoins are not restrained by set banking hours, withdrawal limits or long transaction execution periods before funds become available.

 

Safeguards Against Currency Manipulation

Bitcoin is not owned or controlled by a country or governing body. Additionally, unlike many other forms of currency, the number of bitcoins that will be issued is finite, exactly 21 million. The benefit of this lack of ownership and the limited amount is that the bitcoin supply cannot be artificially manipulated. When it comes to fiat currency, governments can easily print additional paper or mint coins, devaluing existing money in circulation and causing inflation. The decentralized nature of bitcoin decreases monetary concerns and mostly leaves fluctuations in value up to natural supply and demand economics.

 

Greater Consumer Protections

The use of bitcoin as an alternative to fiat currency protects the downside that can occur with traditional bank accounts. This includes the threat of bank failure or skimming. In the event of a bank failure, a customer can face frozen bank accounts while liquidation plans or bailouts are hashed out. In some countries, traditional bank customers may even find that banks will skim money off of customer’s accounts to remain solvent. This occurred during the banking crisis faced by Cyprus in 2013. With bitcoin, individuals remain in full control of when and how their assets are retrieved, transferred and spent. Essentially, digital currency users become their bank.

 

Greater Transparency

Because all bitcoin transactions are permanently recorded on the blockchain, all sales are public and traceable. The balance associated with each address is also part of the public record. The blockchain makes bitcoin much more transparent than many other monetary systems.

 

Private and Secure

Although all bitcoin transaction details are stored publicly on the blockchain, the identities of the users involved remain relatively anonymous. Because payments can be made without including personal identification information, Bitcoin provides inherent security against identity theft. Additionally, there is no risk of being charged twice or of fraudulent charges being assessed to your wallet thanks to the blockchain, which monitors unique coin addresses and eliminates the possibility of paying multiple people with the same bitcoin. Bitcoin doesn’t offer the complete anonymity of cash but is undoubtedly a far more private experience than making online payments or transactions using debit or credit cards.

 

Final Thoughts

Bitcoin is currently the most valuable and widely adopted digital currency. A growing number of businesses, charities, and other organizations are accepting bitcoin payments ranging from e-retailers to law firms to sports franchises. Further, recent inflationary and banking crises across the globe have highlighted some of the critical threats inherent to fiat currency. This creates additional opportunities for decentralized digital currencies. Education will be essential to increasing Bitcoin’s acceptance and usage by merchants, institutions, and individuals. The system will also need to address common criticisms around illicit use of bitcoin and work diligently to build regulatory and legal frameworks around the world.

 

A guest post by KillerLaunch.com

Continue Reading

#Blockchain

South Europe: The leading region for cryptocurrency and blockchain

Published

on

Southern Europe is gearing up to become the premier regions for cryptocurrency and blockchain technology. The Mediterranean Seven agreement was signed

Southern Europe is gearing up to become one of the premier regions for cryptocurrency and blockchain technology. In early December, the Mediterranean Seven agreement was signed between Portugal, Spain, France, Italy, Greece, Cyprus, and Malta. These seven countries are working together to promote blockchain technology across the Mediterranean and the adoption of different cryptocurrency technologies. These seven countries together represent a huge economic group and is a very exciting innovation to see happening.

 

Recent Updates:

Malta:

Malta has done amazing things for blockchain and cryptocurrency regulation over the last year. Inviting companies from all around the world to come and set up their business in Malta. Some of the big names like Binance have made a lot of headlines by moving their base to Malta and a lot of others are planning to join the party as well. So Malta has been making a lot of strides when it comes to cryptocurrency. Allot of other countries should learn from their lead and they see a great opportunity in cryptocurrency in the same way they say a great opportunity in online gambling. For a little country like Malta, it can make a big impact on their tax revenues in the long term.

 

Italy:

Recently, the Italian government has published a list of thirty experts that they are bringing together to develop the nation’s blockchain strategy. The group is specifically focused on identifying the use cases of blockchain in the public and private services and developing the necessary technical and regulatory tools to promote the adoption of the technology. That’s a great step by Italy to get people to really get committed to doing it and it represents a positive step forward.

 

Spain:

Spain’s ruling party Partido Popular is introducing draft legislation around things like tax cuts for cryptocurrency companies. Also looking at how they can set up a national council for cryptocurrency and of course faster education of blockchain technology inside the country. Spain is no stranger to cryptocurrency by any means as its a very popular marketplace for cryptocurrencies and also we have seen some interesting innovations happening recently in Spain like for example cyclebit rolling out their cryptocurrency payment processing to 130 different cafes across Spain, Spain’s second-largest  bank; Banco Bilbao Vizcaya and Argentaria has closed a 150 euro loan using blockchain technology with Porsche Holdings which is one of the largest car distributors in Europe and also Spanish renewable energy company Acciona Energia  is going to deploy blockchain to trace electricity generation. So Spain has been doing quite a lot of work.

 

France:

France, which is one of the leaders behind the initiative to set up the Mediterranean Seven. We have seen a lot of back and forth on cryptocurrencies recently. Recently all of the people we excited about all the tobacco stores offering bitcoin for sale and that is exciting as it does visualize bitcoin to a large audience of people. But the best excitement is the government of France putting forward 500 million euros towards blockchain technology and hopefully, they will find some great use cases in France for blockchain technology and the country can become a leader in this. We can add into that the recent innovations towards ICO legislation but at the same time, the lower house of the France parliament has rejected recent amendments that would have seen the 2019 finance build easing cryptocurrency related taxation but unfortunately, that didn’t pass.

 

Greece, Cyprus, and Portugal

Up to this time, we haven’t really had any recent announcements out of any of those three countries but nevertheless, these countries are a part of the Mediterranean Seven and we hope that we will soon see some announcements from them in the near future about how they are hoping to integrate blockchain technology and how they are hoping to pass cryptocurrency friendly regulations etc.

 

What do you think about the adoption of blockchain technology and cryptocurrency by these seven European nations? Tell us your thoughts in the comments section below.

Continue Reading

#Bitcoin

Exposing HitBTC on Proof of Keys Event on 3 Jan 2019

Published

on

Proof of Keys urges customers to remove and withdraw their funds to expose fraudulent cryptocurrency exchanges like HitBTC.

Trace Mayer is working hard to advertise the Proof of Keys event on 3 Jan 2019, tomorrow. The event urges customers to remove and withdraw their funds to expose fraudulent cryptocurrency exchanges like HitBTC. The idea is to make sure that exchanges like HitBTC actually hold all the crypto assets that they claim, which is possible only if all users withdraw their crypto assets from the exchange at one go.

Mayer says:

“People kind of need to understand the importance of proof of keys and proof of work. And so why not do it on the genesis block day [January 3]. Why not turn this into an annual celebration that we can do as a community, and just demand proof of the keys.”

 

HitBTC is Fraudulent

HitBTC has already started acting in a fraudulent manner by freezing customer’s accounts ahead of the Proof of Keys event, there have been multiple cases of the same and reported on Reddit.

Multiple customers have had their funds frozen for more than 6 months due to HitBTC’s fraud KYC test that they require from customers to get access to their accounts.

One such complaint can be seen here on Reddit.

Six months ago my account got suspended. After months of sending 40 plus emails, HITBTC finally unfroze my account. I immediately withdrew most of my funds, but left a small amount to day trade. I did that because HITBTC promised that “No further automated restrictions will be applied”. Over the months, from day trading I have built back my balance up to a couple BTC. With the proof of key date approaching, I felt that HITBTC is the prime suspect for being insolvent, so I tried withdrawing my BTC. Guess what, they blocked the withdrawal and froze my account again.

 

John Mcafee has urged its followers multiple times to expose HitBTC and its fraudulent dealing with its users.

 

Expose HitBTC’s Fraud Together

The Proof of Keys event is the best way that the cryptocurrency community can come together and expose fraud exchanges like HitBTC and others. Coinnounce also awaits comments from HitBTC on their fraudulent activities. If we hear from them, we will update this article.

Continue Reading
Advertisement BitcoinAdvertising.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 3661.6575022
  • ETH
    Ethereum(ETH) 124.172654034
  • BCH
    Bitcoin Cash(BCH) 130.257434767
  • EOS
    EOS(EOS) 2.4423925882
  • LTC
    Litecoin(LTC) 31.7900255164
  • TRX
    TRON(TRX) 0.0246282024
  • ADA
    Cardano(ADA) 0.0442032943
  • DASH
    Dash(DASH) 71.7874616901
  • XEM
    NEM(XEM) 0.0566796923

Trending