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

Can Bitcoin be Traced?

Published

on

Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

Earlier it was challenging to trace Bitcoins, but current technology has led to practical ways of tracking stolen bitcoins.

To track the person who received the bitcoin, the address owner must be aware of it.

However, governments do not want bitcoin owners to be unknown, and they are trying to regulate bitcoin in a way that can be monitored.

It’s nothing new since people have been doing blockchain analysis and bitcoin tracking since bitcoin was used to exchange stuff on the internet.

 

Is Bitcoin Anonymous?

As Bitcoin has become more popular and some criminal activity has been disclosed on the Bitcoin network, many people have wondered whether their Bitcoin transactions are anonymous or whether there are some essential complexities that they should be aware of.

Bitcoin tumblers allow many different users to put their cryptocurrency in a “bucket” and then return the same bitcoin value to each user, but with bitcoins put into a bucket by other users.

Bitcoin is not entirely untraceable, but it is a common misunderstanding, as Bitcoin is well known for masking user identity.

 

Users who rely on bitcoin exchanges ( such as Bitfinex, Binance or Kraken ) to exchange money for bitcoin must disclose their personal information to such an account.

However, governments are beginning to introduce new rules that could force an anonymous Bitcoin exchange to verify the identity of a new user before allowing them to purchase Bitcoin with fiat currency.

Create multiple addresses so that bitcoin can be randomly distributed, making blockchain analysis more difficult and anonymous.

 

Bitcoin is often presented as an untraceable payment method that facilitates illegal activities by allowing criminals to make and receive payments without being monitored.

There are many ways in which the identity of a person can be exposed to bitcoin transactions.

 

Now you have your bitcoin clean; you don’t want to waste all the hard work of using it in a trackable transaction.

As such, if you can pay with bitcoin and rely on the trader not to keep any PII records, the purchase may be anonymous.

If you prefer to spend your bitcoin on other cryptocurrencies or cash, the easiest thing to do would be to go to the exchange.

Portfolios, currency exchanges, mixing companies, and P2P sites have all been used to cheat bitcoin users.

Keep in mind that bitcoin is still the most widely accepted cryptocurrency.

 

Bitcoin is the only virtual currency with enough people who want to buy it to become moldy.

Cybercriminals use the creation and monitoring of Bitcoin portfolios, which can be done automatically, helping them find out which victims have paid.

Bitcoin transactions are public and contain all the information we need to track ransom payments, provided that we know which wallets to look at.

In most cases, payment tracking is not as easy as cybercriminals move bitcoins through multiple wallets to avoid payment tracking.

 

So, if you’re still thinking about using Bitcoin for your transaction gateway, be careful that you can track it as well.

Most users use online bitcoin exchanges to exchange bitcoins for real currency, such as bitpay, coinbase, localbitcoins, etc.

As the number of pro traders is slightly lower in online markets, it is easy to look at the bitcoin transaction by going to their bitcoin address.

 

Oaktar can be used to collect much more than the information needed to identify and link someone to specific Bitcoin addresses and transactions and can do so without relying on cryptocurrencies.

As alarming as oaktar and its activities, no new information has recently emerged to indicate that the NSA has expanded its Bitcoin monitoring efforts to other cryptocurrencies.

These protocols include CoinJoin, Dark Wallet, bestmixer, io, sharecoin, and coinwap, all of which also offer Bitcoin and other cryptocurrencies the possibility of anonymizing their transactions.

In the meantime, the more direct and intrusive methods of the NSA are also based on the fact that crypto users unconsciously compromise their internet connections, which could not be expected to monitor all cryptocurrency transactions in mass.

 

Bitcoin, the Internet currency loved by computer scientists, libertarians and criminals, is no longer vulnerable.

But Bitcoin ‘anonymity is also a powerful tool for criminal financing: virtual money can keep shady transactions secret.

Continue Reading

#Blockchain

Forbes releases top 50 blockchain companies list

Published

on

Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

Continue Reading

#Blockchain

JPMorgan expanding itself into the blockchain and crypto space

Published

on

JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

Continue Reading

Keep up with Bitcoin & Blockchain Technology Trends

Simply enter your email address in the box below and sign up for emails from Coinnounce regarding trending cryptocurrency, bitcoin & blockchain topics and offers.

This information will never be shared with third parties.