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Decentralized Exchange Blockonix.com, launches this week

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Blockonix bitindia

Decentralized Exchange Blockonix.com, launches this week

The Malta-based decentralized exchange, Blockonix.com, is set to launch this week. A tweet on the official twitter account confirms the same.

Blockonix was initially set to launch in India, but due to RBI’s intervention on Indian Cryptocurrency Exchanges, it decided to launch in an international jurisdiction that is more friendly to cryptocurrencies and blockchain technology. Blockonix focuses on 100% decentralized trades that are contract-driven.

 

Blockonix is secure

Blockonix exchange does not hold your assets, does not hold your private keys and does not earn any profits. Yes, the exchange does not have any authority to hold or transfer your digital assets so the power remains in the user’s hands, as well as the security.

The exchange is built on the ERC-20 framework and aims to integrate inter-chain transactions in the future. Users are able to import their wallets and start using the platform.

 

User friendly interface

With most decentralized exchanges lacking user-friendlyness, Blockonix focuses on ease of use. The exchange will be the world’s first contract based exchange that uses all its trading fee earned to buy back its native BDT tokens.

 

All profits used for Buy-back

Blockonix is the world’s first exchange that literally earns nothing. The project is community driven and aims to utilize all earnings for the entire community. All trading fee that is collected is used 100% to buy back native BDT tokens that have a total supply of approximately 10 million only. The BDT tokes thus purchased are permanetly burned every day. This will not only keep limiting the total supply but will increase the value of the BDT tokens, that can be used to get a 70% discount on the trading fee on the platform. The exchange announced earlier that it will charge 5 ETH to list new tokens and this fee collected is also used to buy back BDT.

What do you think about the Blockonix platform and its concept? Let us know your thoughts in the comments below.

#Blockchain

What is a decentralized application? Top 3 decentralized applications.

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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.

After the evolution of blockchain and cryptocurrency, we often get to know about the words like decentralized and decentralized applications. People are often confused about them and have doubts like what is a decentralized application and what are their types.

In this article, we will discuss what is a decentralized application. We will also discuss different types of decentralized applications. Further, we will also mention the top 3 decentralized applications.

 

What is a decentralized application?

In simple words, a decentralized application is an application that runs on a distributed computing system. It is also known as dApp. A decentralized application, instead of running on a single system, runs on a peer to peer network of the system. They have been existing since the innovation of peer to peer networks. These applications don’t require middleware to control them. Anyone can connect to anyone in the network directly. They are open source and are not owned by an individual. Further, they also don’t suffer from the problem of central point failure problem.

Dapps are extremely used in blockchain technology. In distributed ledger technologies, usually known as Ethereum Blockchain technology, these decentralized applications are also called ‘smart contracts’.

 

Types of decentralized applications?

The decentralized apps have been broadly classified on the basis of their uses. The decentralized applications are basically of three types:

 

a) The decentralized apps which are involved in managing the money:

These are the decentralized application who mainly focusses on the management of money. They provide the facility to connect with any other user in the distributed network and send/receive the money from them. For connecting to a user in the P2P network, one needs to exchange a token, ‘ether’ to the other user. These applications are basically ‘money apps’.

 

b) The decentralized apps involved in money as well as other information:

These kinds of application involved other information also apart from money. For example, let say there is an application for vegetable sellers which automatically pays them if the rate of the vegetable is less than the invested amount by them. These decentralized applications depend on money as well as the day to day information outside the network too. Mostly, these kinds of applications are ‘insurance’ type applications.

 

c) The other decentralized applications:

Those dApps which don’t classify into the above two categories are classified into this category. These applications are dedicated to decentralized autonomous organizations. Usually, they are used for voting and governance systems. These applications can be used to form a leaderless organization where every function of the organization like a person’s voting, releasing funds etc are decided by the program of the app itself.

 

Top 3 Decentralized applications:

There is a huge list of decentralized applications today. Every application tends to provide extra features to users in order to beat their respective competitors. There are several factors to go for a specific decentralized application such as security, privacy, the field of use, reliability etc. Here we are going to discuss the top 3 decentralized applications :

 

a) Blockonix:

Blockonix is one of the best-decentralized applications today having the best User Experience. This cryptocurrency exchange is located in Malta and has its headquarters in Birkirkara city of the country. Blocknix works for 24*7 throughout the week. This application was established in the year 2018.  The exchange runs on the Ethereum Blockchain and there are salient features which make it one of the top decentralized application today.

 

b) IDEX:

Idex is one of the fastest and user-friendly decentralized application. This application has separated the trading machine from the execution which makes it so fast. You can easily trade continuously on this application without worrying about the waiting time for the mining of transactions. This application takes care of various factors like the security of transactions, handling of all funds, ensuring that the fund’s transaction is synchronized etc.  This application uses the Ethereum blockchain technology and provides the best user experience to all its users.

 

c) ForkDelta:

ForkDelta is again, one of the top-quality decentralized application. It is the forked version application of decentralized exchange EtherDelta. It has gained popularity at a very fast pace. It acts as an open source application an provide a secure platform to its users. Using this decentralized application, one can easily exchange the ethereum token with another user on this application. The user interface is very simple and friendly. Transactions like deposits and withdrawal are very reliable and synchronized. The high-qualified development team of this application is always keen to provide the best user experience.

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#Blockchain

Guide: How to start a blockchain company?

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The blockchain is one of the powerful buzzwords in the recent scenario and there are several tangible reasons to use this technology.

Whenever mankind has found something new, creative minds have had the urge to explore more. With one relatable chain, all you get is a unified and unique product. And, what we do with that product? Let’s find out!

Blockchain Technology

Creativity is the mother of all innovation is a line we have heard since we were kids. However, in today’s date simply innovation does not help. You need something full proof and that’s what went in the mind of the developers of the blockchain technology.

The multi-faceted technology has not only created ripples but also came as a blessing for numerous organizations. It has stimulated sums of businesspeople throughout the world to commence their individual firms.

 

Considerations before commencing a Blockchain Business

Vast aggregates of companies have recently started to develop blockchain-powered businesses. However, there are floating delusions around what the method actually looks like.  As a businessman, you must know what is unique and what kinds of mindsets are expected.

It is further essential to have a clear idea because mistaken expectations have the power to doom your business before it surfaces.  Considering developing an innovative trade with blockchain? Pick on these few points.

The conditions of the cryptomarket will profoundly affect your fundraising endeavors:

It means that the market value of the cryptocurrency is a determining factor behind fundraising agendas for projects. Hot markets attract investors and vice-versa.  

Business with blockchain is fast than any other technology:

Some of the companies assume that starting a business with blockchain is something unconventional. However, the only exception to blockchain and other technologies is the speed. The principle values remain the same as to concentrate the efforts on developing a marketable product, accumulating a skilled crew, and creating engaging contents.

Founding team must have high technical prowess:

Your proposed entrepreneurial process demands pressing attention to the synchronicity of the originating unit. If one side is yielding to face the customers, the other side has to hold skilled technical knowledge. Your business must be able to collaborate with cross-functional specialties.

 

Why your company should practice Blockchain?

The quick and naive objective is to get extra funding. The blockchain is one of the powerful buzzwords in the recent scenario and there are several tangible reasons to use this technology.

The blockchain is kind of a public ledger that helps to store and maintain all kinds of businesses selling and buying. These transactions are secure inside “blocks” that are linked with each other individually and time-stamped  Tampering with any data in a block would affect the entire chain, making it impossible to meddle with and more secure.

Facebook’s current travails are evidence that any business, no matter how big it is, is susceptive to decaying public support if it is unable to maintain user data and protect it. Stabilized businesses similar to Facebook will apparently endure and be fine. Whereas, new companies or Startups staring to get supported might face consequences. Therefore, the use of blockchain is beneficial to a great extent.

 

A glance at the Importance of Brand name

An innovative idea, structure, and marketing all are necessary to build a company, But can a company run without a name? The major role of a company’s success is often attached to its brand name.

A good brand name will not only attract customers but also make way for influential online visibility among the sea of other competitors. The name must not be a tongue twister and customers can easily decipher.

It should be crisp and easy to remember. Brands names that are long is not much solicited by the consumers, they start looking for shorter alternatives. Convenience is the key, be it services or name. Moreover, a brand name must be unique, imagine using blockchain technology but the name deals with Instagram, that will not work right?

The audience must be curious about the name, only hearing once should make them feel to know more about it.  So, that’s the power of a name, In fact, services and background come later.

To decide a name is not an easy task, therefore, it will be better if you take expert advice and look for some references or inspiration. Cryptocurrency and blockchain brand names must be unique and different as it deals with one of the most important aspects of the business. Well, there is a place which will fulfill all your brand name requirements and the platform is obviously Brand Thugs.

Here, you will find all the relevant suggestions for brand names related to business, the blockchain, and cryptocurrency. Here is a list of some awesome blockchain related domain names available on brandthugs.com:

1. BlockXchain.comThe perfect domain name for a cryptocurrency or blockchain business based on the word ‘blockchain’.

blockxhain.com_domain-min_(1)

2. okHODL.com: An on-trend name containing the cryptocurrency slang term ‘HODL’, which means to hold.

okhodl.com_domain-min

3. BitcoinVisits.com: A welcoming name that invites ‘bitcoin’ enthusiasts to ‘visit’ often.

bitcoinvisits.com_domain

4. CoinFarming.com: Grow your crypto wealth with this perfect brand name.

coinfarming.com_domain-min

5. BitcoinAdvertising.comThe best combination of the words “bitcoin” and “advertising”.

bitcoinadvertising-2

 

Blockchain-friendly nations

Several diverse companies started coming up within the ecosystem embracing cryptocurrency, customarily assigned to a money-raising ICO, which made many investors think twice on how to manage this crowd-funded, decentralized form of funds raising. Some of the nations that favor the use of blockchain are the USA, Switzerland,  Bermuda, and Malta. these nations are actively modifying and building legislation to embrace blockchain plans, programs, and projects.

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Largest Banks Adopting Blockchain Technology

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The industry that is taking tremendous interest in Blockchain is the finance sector, especially the banks. They saw it as a competition.

The blockchain technology is prevailing for some years now but has entered the mainstream market in the last two years. As a matter of fact, for the last two years, the head of all sorts of cryptocurrencies has a valuation of $75 million, however, a bit of collapse is observed.

One sector of the industry that is taking tremendous interest in Blockchain is the finance sector, especially the banks. when blockchain surfaced, they saw it as a competition fearing they would automate control over the funds, but now they are warming up to the same technology.

 

Blockchain Receives Greenlight Among Banks

Banks and their employees have historically remained suspicious of how reliable blockchain technology for an industry like finance. However, that perspective has stirred dramatically in the last year, and they are making themselves familiar with the technology, also they are heavily enthusiastic concerning its possible uses.

Majority of the business administrators announce that blockchain is highly critical to their firm’s progress, and over the next three years, it is going to surpass over many functioning. The 2018 Consensus conference saw the developer and founder of FedEx’s, Frederick W. Smith said that Blockchain has the potential to ultimately transform business beyond boundaries. and edges.  

Large banks are performing substantial investments in varied initiatives including classified ledger technology.

 

List of some Banks Using Blockchain Technology

Let us have a look at some of the famous and global ranking banks who have bowed down to Blockchain. They are as follows

Santander:

The adoption of Blockchain will lead to a state where global banking sectors will be able to save more than $ 20 billion by the end of 2022. Santander has the same notion too. It was the first bank in U.K to utilize blockchain for developing international payments service. The devised a technology called One Pay FX which will enable customers to easily transfer money in between the Santander bank accounts in the continents of Europe and South America. Santander further conducted blockchain application for stockholder polling with JPMorgan Chase,  Broadridge, and Northern Trust.

 

HSBC:

The Hong-Kong Shanghai Banking Corporation has gone for a test before completely adopting the Blockchain technology. They have utilized a soybean shipment as a test for business sales and transaction. With the help of Dutch Bank ING and partnered with the Cargill, one of the foods and agricultural firm. HSBC has further used Blockchain technology and said the work was completed in 24 hours. It was the blockchain consortium R3 that HSBC laid their hands on.

 

JP Morgan Chase:

It will not be right if we whirled off reports, but JP Morgan Chase has a completely different unit for blockchain called Quorum. They have already tested a new application that can handle financial instruments and phantom-issues an amount of $150, each floating year with enormous deposits on the blockchain technology. Overall, with the help of blockchain, the banks are bestowing infrastructure between the participating factors. The issuers, dealers, investors, administrations, custodians will all be able to notice the golden truth behind the source for a debt instrument. This was the notion of JP Morgan Chase’s welcome to blockchain technology.

 

The Bank of Ayudhya:

It is Thailand’s 5th largest bank which managed a victorious pilot test last year in May to get the real-time foreign payments in conjunction with MUFG Bank (Japan) and Singapore’s Standard Chartered Bank, the multinational monetary services firm. The test supported a comparable force in which the bank accepted blockchain technology for money transfer among an oil firm in Thailand and its marketing ally in Laos.

 

China Construction Bank:

It has set out for promoting cross-border loans issuances for modest companies and everything was taken care of by Blockchain. The platform has till date generated over $251 million value of sales and transactions.

According to experienced investors, Blockchain technology can be an excellent way for international transactions. However, banks will not get enough space for charging tax and fees for transactions on foreign exchange in between a serious competitive pressure.

Due to the introduction of blockchain to the financial sector, it has been able to develop bases where banks can simplify and speed up cross-border debts, increasing speculation accuracy, authenticity, and shorter adjustment processes. Intelligent contracts have curated privileges with transaction processing by eliminating the middle man and will be used to develop reliability and remunerations operations.

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