LOADING

Type to search

Ethereum

Ethereum (ETH) News, Price & Announcements

Share

Ethereum (ETH) News, Price & Announcements






http://ftr.fivefilters.org/makefulltextfeed.php?url=http%3A%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&max=5
Content extracted from http://ftr.fivefilters.org/makefulltextfeed.php?url=http%3A%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&max=5
http://ftr.fivefilters.org/makefulltextfeed.php?url=http:%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&max=5

http://ftr.fivefilters.org/makefulltextfeed.php?url=http%3A%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&max=5
<rss version=”2.0″ xmlns:media=”http://search.yahoo.com/mrss/” xmlns:content=”http://purl.org/rss/1.0/modules/content/”>
<channel>
<atom:link rel=”self” href=”http://ftr.fivefilters.org/makefulltextfeed.php?url=ftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&amp;max=5&amp;links=preserve”></atom:link>
<atom:link rel=”alternate” title=”Source URL” href=”http://ftr.fivefilters.org/makefulltextfeed.php?url=https%3A%2F%2Fcryptocontrol.io%2Ffeed%2Fcoin%2Fethereum&amp;max=5″></atom:link>
<atom:link rel=”related” title=”Subscribe to feed” href=”https://subscribe.fivefilters.org/?url=http%3A%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dftr.fivefilters.org%252Fmakefulltextfeed.php%253Furl%253Dhttps%25253A%25252F%25252Fcryptocontrol.io%25252Ffeed%25252Fcoin%25252Fethereum%2526max%253D5%26max%3D5%26links%3Dpreserve”></atom:link>
<title>Ethereum (ETH) News, Price &amp;amp;amp;amp; Announcements – CryptoControl</title>
<link>https://cryptocontrol.io/feed/coin/ethereum
<description>Track news, trends &amp;amp; announcements about Ethereum (ETH).</description>
<ttl>60</ttl>
<image></image><title>Ethereum (ETH) News, Price &amp;amp;amp;amp; Announcements – CryptoControl</title>
<link>https://cryptocontrol.io/feed/coin/ethereum
<url>https://cdn.cryptocontrol.io/favicon/favicon-96×96.png</url>

<item>
<title>Generating Randomness In Blockchain: Verifiable Random Function</title>
<link>https://cryptocontrol.io/r/rss/article/5fd6a93574523e00178c11a3
<guid ispermalink=”false”>5fd6a93574523e00178c11a3</guid>
<description>&lt;div class=”image-container feat”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-jf3w294m.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div class=”Profile__Layout-sc-1j6ysg0-0 hPgNlb profile”&gt;&lt;a href=”https://hackernoon.com/u/ricc”&gt;&lt;img src=”https://hackernoon.com/images/avatars/cV6H2W5Zw6NvtZQNigFYp0hcFpd2.jpg” alt=”Author profile picture” width=”50″ height=”50″ loading=”lazy”&gt;&lt;/a&gt;&lt;div&gt;&lt;h3&gt;&lt;a href=”https://hackernoon.com/u/ricc” class=”Link-k8dxie-0 gLHiBQ”&gt;@&lt;!– –&gt;ricc&lt;/a&gt;&lt;small&gt;ricc&lt;/small&gt;&lt;/h3&gt;&lt;p&gt;crypto enthusiast&lt;/p&gt;&lt;div class=”SocialLinks-sc-1bbo2b4-0 Follow__Layout-sc-12l5d2g-0 dcgsMq”&gt;&lt;a href=”https://twitter.com/RiccArd70872746″ target=”_blank” rel=”dofollow”&gt;&lt;img src=”https://hackernoon.com/social-icons/twitter-new.png” alt=”Twitter social icon” width=”20″ height=”20″ loading=”lazy”&gt;&lt;/a&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;Blockchains such as Bitcoin are facing a key problem. How to fairly spread out the decision-making consensus on what pool will win the competition and have the right to add the new block into the blockchain itself.&lt;/p&gt;&lt;p class=”paragraph”&gt;Bitcoin protocol, which is made by pseudonym person/group Satoshi Nakamoto, solves this problem by a cryptographical quest. Specifically, the search of the random number, the cryptographic nonce. The pool which finds the lowest possible nonce is the winner of the approx. The 10-minute task, enlist the block into the blockchain and then the process of searching a nonce starts again.&lt;/p&gt;&lt;p class=”paragraph”&gt;But as cryptographers all around the world work day and night and try to find a better solution, that will enable the block to be mined earlier than in 10 minutes, they came up with different kinds of solutions. One of them I would like to describe now in this article also with examples of what projects use it.&lt;/p&gt;&lt;h2&gt;Verifiable Random Function (VRF)&lt;/h2&gt;&lt;p class=”paragraph”&gt;Bitcoin’s problem with the long mining process (10 minutes per block on average) is more complex than it may seem. Because of that, fewer transactions can be processed in a specific time, because it takes too much time to mine and finalizes the block. At this moment, the Bitcoin network can handle around 7 TPS (transactions per second). &lt;/p&gt;&lt;p class=”paragraph”&gt;Modern cryptography goes far ahead of this result. The elegant solution is a random draw, which happens in a decentralized manner. This application of a cryptographic lottery is called Verifiable Random Function.&lt;/p&gt;&lt;p class=”paragraph”&gt;Verifiable random functions (VRFs) were developed by Silvio Micali, Michael Rabin, and Salil Vadhan in 1999 and then later improved by Yevgeniy Dodis and Aleksandr Yampolskiy in 2005.&lt;/p&gt;&lt;p class=”paragraph”&gt;A verifiable random function is a cryptographic function that processes inputs and produces verifiable pseudorandom output. By using the proof and the public key as inputs, the outputs can be then verifiable without knowing the private key and even without the possibility to find out it.&lt;/p&gt;&lt;p class=”paragraph”&gt;Given the input value &lt;strong&gt;x&lt;/strong&gt;, the owner of the secret key &lt;strong&gt;SK&lt;/strong&gt; can calculate the value of the function &lt;strong&gt;y = F SK (x)&lt;/strong&gt; and the proof &lt;strong&gt;p SK (x)&lt;/strong&gt;. &lt;/p&gt;&lt;p class=”paragraph”&gt;Using the proof and the public key, anyone can check that the value of &lt;strong&gt;y = F SK (x)&lt;/strong&gt; was actually calculated correctly, yet this information cannot be used to find the secret key. &lt;strong&gt;PK = g SK&lt;/strong&gt;&lt;/p&gt;&lt;blockquote&gt;VRFs provide deterministic precommitments which can be revealed at a later time using proofs which can only be generated by a private key. This is useful for providing a 1:1 mapping of low entropy inputs (e.g. names, email addresses, phone numbers) to some random values which can be committed to in advance, e.g. through a timestamping service such as a transparency log.&lt;/blockquote&gt;&lt;blockquote&gt;Unlike traditional digital signature algorithms, VRF outputs can be published publicly without being subject to a preimage attack, even if the verifier knows the public key (but not the proof). This is useful to prevent enumeration of the names/identifiers in a directory which is using a transparency system. &lt;/blockquote&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Source: &lt;/em&gt;&lt;a href=”https://en.wikipedia.org/wiki/Verifiable_random_function?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://en.wikipedia.org/wiki/Verifiable_random_function&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;h2&gt;Application of VRF in the blockchain space&lt;/h2&gt;&lt;p class=”paragraph”&gt;We can find some applications of Verifiable Random Functions in the blockchain space. From the already functional blockchains, it’s &lt;strong&gt;Algorand&lt;/strong&gt;, &lt;strong&gt;Cardano&lt;/strong&gt;, &lt;strong&gt;Polkadot,&lt;/strong&gt; and in some way &lt;strong&gt;Chainlink&lt;/strong&gt;. For Algorand, the undeniable advantage of using VRF is, that is almost impossible to fork the network due to the network latency like it’s happening with the Bitcoin blockchain, where orphan blocks arise all the time.&lt;/p&gt;&lt;p class=”paragraph”&gt;From the upcoming projects, we can name &lt;strong&gt;Dfinity&lt;/strong&gt;, which will be kind of a decentralized “internet computer”, that aims to reduce the costs of cloud services in today’s internet world.&amp;nbsp;&lt;/p&gt;&lt;h2&gt;Algorand&lt;/h2&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-p5829m1.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;Silvio Micali&lt;/strong&gt;, the founder of Verifiable Random Functions, is a respectable person in the computer science world. He also stands behind blockchain project Algorand, which of course uses his invention to the attainment of consensus.&lt;/p&gt;&lt;p class=”paragraph”&gt;Algorand includes 2 types of nodes. Relay nodes, which serve as network hubs relaying protocol messages very quickly and efficiently between participation nodes, that serves for the proposing new block and following validation process.&lt;/p&gt;&lt;blockquote&gt;The VRF takes a secret key and a value and produces a pseudorandom output, with a proof that anyone can use to verify the result. The VRF functions similar to a lottery and is used to choose leaders to propose a block and committee members to vote on a block. This VRF output, when executed for an account, is used to sample from a binomial distribution to emulate a call for every algo in a user’s account. The more algos in an account, the greater chance the account has of being selected — it’s as if every algo in an account participates in its own lottery. This method ensures that a user does not gain any advantage by creating multiple accounts.&lt;/blockquote&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Source: &lt;/em&gt;&lt;a href=”https://developer.algorand.org/docs/algorand_consensus/?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://developer.algorand.org/docs/algorand_consensus/&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;p class=”paragraph”&gt;It’s no surprise then, that Silvio Micali used Verifiable Random Functions also for Algorand blockchain to perform secret cryptographic sortition to select block proposal node and the validation committee to propel the consensus protocol. Using VRF made the consensus process very effective, so a high level of scalability is reached. From that moment, also other blockchain projects started to use VRF for the selection of the block proposal node and the committee.&lt;/p&gt;&lt;h2&gt;How VRF works in the Algorand Blockchain&lt;/h2&gt;&lt;blockquote&gt;Recall that at the core of the Algorand Blockchain is a fast Byzantine Agreement protocol. However, the agreement is not performed between all users in the network. Instead, it is confined to a small randomly chosen committee of users for each round.&lt;/blockquote&gt;&lt;blockquote&gt;Now, each user in the Algorand network holds a secret key SK, while her verification key VK is publicly known to everyone. Each user participating in the Algorand network wants to decide if she should be in the committee to run Byzantine Agreement for block r, she needs to do the following:&lt;/blockquote&gt;&lt;blockquote&gt;Compute Evaluate(SK, Qr) → (Y, ⍴). Here, Qr is a “magic” seed string that is available to everyone in the system.&lt;/blockquote&gt;&lt;blockquote&gt;Check that Y falls within a certain range [0, P] that depends on the stake the user holds in the system.&lt;/blockquote&gt;&lt;blockquote&gt;If the above check passes, then the user holds a proof consisting of values (Y, ⍴) which validates their committee membership for block r. Given (Y, ⍴) and the user’s verification key VK, anyone can verify that Y is a valid unique output and that it falls within a desired range (hence, validating that the user holding VK was indeed chosen to serve on the committee for block r).&lt;/blockquote&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Source: &lt;/em&gt;&lt;a href=”https://medium.com/algorand/algorand-releases-first-open-source-code-of-verifiable-random-function-93c2960abd61?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://medium.com/algorand/algorand-releases-first-open-source-code-of-verifiable-random-function-93c2960abd61&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-k42u29pe.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Source: &lt;/em&gt;&lt;a href=”https://developer.algorand.org/docs/algorand_consensus/?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://developer.algorand.org/docs/algorand_consensus/&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;h2&gt;Cardano&lt;/h2&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-we1t29yv.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;Cardano Ouroboros PoS &lt;/strong&gt;uses Verifiable Random Function (VRF) technology, through which the node determines that it has acquired the right to produce the next block. The inputs of the VRF are slot ID (current clot in the epoch), VRF signing key (a unique input), and Nonce (derived from hash made of 2/3 blocks from the previous epoch).&lt;/p&gt;&lt;p class=”paragraph”&gt;By using VRF, there can be generated a random number that will answer the question for each node just before the potential right to produce a block: “do I now have the right to produce a new block in this time slot”? There is no chance to find out in advance, which node will have the right to produce the next block.&lt;/p&gt;&lt;p class=”paragraph”&gt;The creation of the block consists, among other things, of signing with a private key (KES key) and entering a verification number. After signing the block, the private key is discarded and a new one is generated. Another cryptographic tool is used, which is called Key Evolving Signature, which allows you to change the private key and keep the same public key. The practical thing about this solution is that there is no need for a large number of messages to be sent between different nodes when concluding a consensus, as we can see with a traditional BFT solution. The node obtains the right to create the block, does so, and then simply promotes the block. The other nodes verify the right to create the new block and also the transactions in it and then accept the block or not.&lt;/p&gt;&lt;h2&gt;Chainlink&lt;/h2&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-gon294e.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;Chainlink &lt;/strong&gt;also uses the advantages of VRF, but in comparison to&lt;br&gt;Algorand or Cardano, it goes even further. Chainlink offers its solution called &lt;strong&gt;Chainlink VRF&lt;/strong&gt;, which utilizes verifiable random functions to generate randomness on-chain. That way it can be used by smart contracts developers as a source of the tamper-proof random-number generator.&lt;/p&gt;&lt;p class=”paragraph”&gt;It can be used by smart contracts in many applications such as NFTs, in blockchain games, for selection of a representative sample for consensus mechanism and even for generating some duties and resources, like randomly assigning judges to the cases.&lt;/p&gt;&lt;p class=”paragraph”&gt;For each request, Chainlink VFR will generate a random number and also the cryptographic proof, how it was determined. By publishing and verifying the proof on-chain, it’s guaranteed, that it can’t be tampered with or manipulated by anyone including smart contract developers or oracle operators.&lt;/p&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-c84029jk.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;How Chainlink VRF works, source: &lt;/em&gt;&lt;a href=”https://blog.chain.link/verifiable-random-functions-vrf-random-number-generation-rng-feature/?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://blog.chain.link/verifiable-random-functions-vrf-random-number-generation-rng-feature/&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;h2&gt;Polkadot&lt;/h2&gt;&lt;div class=”image-container”&gt;&lt;div class=”FullScreenToggleImage__Layout-yxmb5o-0 fsbpZf”&gt;&lt;div class=”fullscreen”&gt;&lt;img alt src=”https://hackernoon.com/images/cV6H2W5Zw6NvtZQNigFYp0hcFpd2-yd1129tf.jpeg”&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;p class=”paragraph”&gt;Verifiable random functions used in Polkadot are very similar to those used in Ouroboros PoS. The difference is that Polkadots VRF used in BABE consensus doesn’t depend on the central clock, but on its past results, which determine present and future results. They use slot numbers as a clock emulator that estimates time.&lt;/p&gt;&lt;blockquote&gt;Validators participate in a lottery in every slot (currently 6 seconds) which will tell them whether they are a block producer candidate. This lottery is based on VRF (Verifiable Random Function) which validators use to compute a random number. This function is also used to prove that the number validator provided was truly valid and it’s thus eligible for a lottery. The validator wins the lottery&amp;nbsp;if v &amp;lt; T&amp;nbsp;where&amp;nbsp;v&amp;nbsp;is the validators random number and&amp;nbsp;T&amp;nbsp;is generated number by the network. After the lottery, several scenarios actually come into play — one validator wins, multiple validators win, and finally a situation where there is no block producer candidate.&lt;/blockquote&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Source: &lt;/em&gt;&lt;a href=”https://polkadotters.medium.com/polkadot-architecture-6d150dd1253e?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;https://polkadotters.medium.com/polkadot-architecture-6d150dd1253e&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;h2&gt;Other solutions than VRF&lt;/h2&gt;&lt;p class=”paragraph”&gt;Besides VRF, there are some other popular approaches to produce randomness in the blockchain space. One of them is &lt;strong&gt;RANDAO&lt;/strong&gt; with its augment VDF (Verifiable Delay Function). But let’s keep this topic for some other articles to describe it.&lt;/p&gt;&lt;p class=”paragraph”&gt;At this moment, &lt;strong&gt;Ethereum &lt;/strong&gt;is using RANDAO but wants to implement VDF into the protocol in the future.&lt;/p&gt;&lt;h2&gt;Final thoughts on VRFs&lt;/h2&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;Proof of Work blockchains &lt;/strong&gt;struggles in scalability because it takes much more time to mine the block than in PoS blockchains, where to mine the block in the same size as in PoW can take just a few seconds. Because of that, the number of processed transactions per second is lower. &lt;/p&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;Proof of Stake blockchains&lt;/strong&gt; (and types derived therefrom) use a different approach and engage randomness as a fair and unpredictable selection of the block validators. That makes them more efficient/effective and scalable. But the security needs to be secured with fair random selection, otherwise, the scalability solution is on the contrary with the level of decentralization.&lt;/p&gt;&lt;p class=”paragraph”&gt;&lt;strong&gt;A cryptographically prooved lottery&lt;/strong&gt; can use its advantages and pick up a node with the right to create a new block or the committee to vote for the validity of this block.&lt;/p&gt;&lt;p class=”paragraph”&gt;A &lt;strong&gt;verifiable random function &lt;/strong&gt;is a valuable tool for blockchain developers as it can help solve the problem with true randomness used by election in several different cases as you can see with the examples with &lt;strong&gt;Algorand, Cardano, Polkadot&lt;/strong&gt;, and soon in &lt;strong&gt;Dfinity &lt;/strong&gt;as well. There are also different solutions like the one described with &lt;strong&gt;Chainlink VRF &lt;/strong&gt;with its own on-chain tamper-proof random number generator.&lt;/p&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Note: The author is an Algorand ambassador. If you are interested in Algorand and maybe you want to become the leader of your community, check &lt;/em&gt;&lt;a href=”https://community.algorand.org/ambassadors/?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;Algorand ambassador program&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;Title photo: &lt;/em&gt;&lt;a href=”https://pixabay.com/vectors/binary-random-numbers-digital-ones-1254482/?ref=hackernoon.com” target=”_blank” rel=”noopener noreferrer ugc”&gt;&lt;em&gt;Pixabay.com&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;/em&gt;&lt;/p&gt;&lt;p class=”paragraph”&gt;&lt;em&gt;References:&lt;/em&gt;&lt;/p&gt;&lt;footer&gt;&lt;div class=”share”&gt;Share this story&lt;!– –&gt; &lt;/div&gt;&lt;/footer&gt;&lt;section class=”related-stories”&gt;&lt;h4&gt;Related&lt;/h4&gt;&lt;div class=”StoryGrid-sc-1uemu9f-0 llSDJs”&gt;&lt;article class=”Card-sc-4llv5q-0 ivlmVk”&gt;&lt;div class=”image-wrapper”&gt;&lt;a href=”https://bit.ly/35nbg2f” target=”_blank” rel=”sponsored”&gt;&lt;img src=”https://firebasestorage.googleapis.com/v0/b/hackernoon-app.appspot.com/o/images%2Fimg-tp03zy1.jpeg?alt=media&amp;amp;token=0c717ac6-d4cc-4254-9f5a-af6f5519771f” alt=”Adf image” class=”img–contain”&gt;&lt;/a&gt;&lt;/div&gt;&lt;/article&gt;&lt;article class=”Card-sc-4llv5q-0 ivlmVk”&gt;&lt;div class=”card-reactions”&gt;&lt;p&gt;&lt;span&gt;pre-emoji story&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;div class=”image-wrapper”&gt;&lt;a href=”https://hackernoon.com/examining-the-blockchain-trilemma-from-algorands-prism-2kcb32qd”&gt;&lt;img alt src=”https://hackernoon.com/images/683dn2e2v.jpg” width=”379″ height=”200″ loading=”lazy”&gt;&lt;/a&gt;&lt;/div&gt;&lt;/article&gt;&lt;article class=”Card-sc-4llv5q-0 ivlmVk”&gt;&lt;div class=”card-reactions”&gt;&lt;p&gt;&lt;span&gt;pre-emoji story&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;div class=”image-wrapper”&gt;&lt;a href=”https://hackernoon.com/aws-reinvent-2020-aws-community-builders-program-top-highlights-os1c31hl”&gt;&lt;img alt src=”https://hackernoon.com/images/jGfwSsAK0iRj1yWIK1Ik1RpJ4dW2-guj31pe.jpeg” width=”379″ height=”200″ loading=”lazy”&gt;&lt;/a&gt;&lt;/div&gt;&lt;/article&gt;&lt;/div&gt;&lt;/section&gt;&lt;section&gt;&lt;h4&gt;Tags&lt;/h4&gt;&lt;/section&gt;&lt;div class=”CallToAction__Layout-sc-1bzkg2-0 lihLaA” readability=”5.6506024096386″&gt;&lt;a href=”https://app.hackernoon.com/signup”&gt;Join Hacker Noon &lt;i class=”fad fa-glasses”&gt;&lt;/i&gt;&lt;/a&gt;&lt;p&gt;Create your free account to unlock your custom reading experience.&lt;/p&gt;&lt;/div&gt;&lt;p&gt;&lt;strong&gt;&lt;a href=”https://blockads.fivefilters.org”&gt;&lt;/a&gt;&lt;/strong&gt; &lt;a href=”https://blockads.fivefilters.org/acceptable.html”&gt;(Why?)&lt;/a&gt;&lt;/p&gt;</description>
<pubdate>Sun, 13 Dec 2020 18:38:05 +0000</pubdate>
<dc:creator>hackernoon.com</dc:creator>
<dc:language>en</dc:language>
<dc:format>text/html</dc:format>
<dc:identifier>https://hackernoon.com/generating-randomness-in-blockchain-verifiable-random-function-ft1534ud?source=rss</dc:identifier>
</item>
<item>
<title>Bitcoin and Altcoins Respond To Key Uptrend Resistance</title>
<link>https://cryptocontrol.io/r/rss/article/5fd700e3104a800019f42670
<guid ispermalink=”false”>5fd700e3104a800019f42670</guid>
<description>&lt;!– Article Start –&gt;&lt;p&gt;There was a sharp upward move in bitcoin price above the USD 18,500 and USD 19,000 resistance levels. BTC even broke the USD 19,200 resistance, but it struggled near the main USD 19,450 and USD 19,500 resistance levels. The price is currently (05:00 UTC) correcting lower, with supports near USD 19,000 and USD 18,800.&lt;/p&gt;
&lt;p&gt;Similarly, most major altcoins faced sellers near key uptrend resistance, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. &lt;a href=”https://www.tradingview.com/symbols/ETHUSD/” target=”_blank” rel=”noopener”&gt;ETH/USD&lt;/a&gt; failed to surpass the main USD 595 and USD 600 resistance levels. XRP/USD is trading below USD 0.520 and it remains at a risk of a drop below the USD 0.500 support.&lt;/p&gt;
&lt;p&gt;&lt;b&gt;Total market capitalization &lt;/b&gt;&lt;/p&gt;
&lt;figure&gt;&lt;img src=”https://cimg.co/w/articles-attachments/1/5fd/6ff115684e.png” sizes=”(min-width: 640px) 700px, 100vw” srcset=”https://cimg.co/w/articles-attachments/1/5fd/6ff115684e.png 300w, https://cimg.co/w/articles-attachments/2/5fd/6ff115684e.png 600w, https://cimg.co/w/articles-attachments/3/5fd/6ff115684e.png 720w, https://cimg.co/w/articles-attachments/4/5fd/6ff115684e.png 900w” alt=”Bitcoin and Altcoins Respond To Key Uptrend Resistance 101″ class=”content-img”&gt;&lt;figcaption&gt;Source: &lt;a href=”https://www.tradingview.com” target=”_blank”&gt;www.tradingview.com&lt;/a&gt;&lt;/figcaption&gt;&lt;/figure&gt;
&lt;h2 data-param=”1″ id=”bitcoin-price-“&gt;Bitcoin price &lt;/h2&gt;
&lt;p&gt;After a steady decline, &lt;a href=”https://cryptonews.com/coins/bitcoin/”&gt;bitcoin price &lt;/a&gt; found support near the USD 17,650 zone. As a result, there was a sharp recovery in BTC and the price climbed above the USD 18,500 and USD 19,000 resistance levels. The price even gained pace above the USD 19,200 level, but there was no break above the USD 19,450 and USD 19,500 resistance levels (a multi-touch zone).&lt;br&gt;The price is currently correcting gains and trading below USD 19,250. An initial support is near the USD 19,000 level. The main weekly support seems to be forming near the USD 18,500 level.&lt;/p&gt;
&lt;h2 data-param=”1” id=”ethereum-price-“&gt;Ethereum price &lt;/h2&gt;
&lt;p&gt;&lt;a href=”https://cryptonews.com/coins/ethereum/”&gt;Ethereum price &lt;/a&gt; also followed bitcoin and climbed higher above the USD 570 and USD 580 resistance levels. However, ETH struggled to clear the key USD 595 and USD 600 weekly resistance levels. It is trimming gains and trading near the USD 585 level. &lt;br&gt;The first key support is near the USD 580 level. The main weekly support is now forming near the USD 565 level, below which ether could revisit the USD 550 support.&lt;/p&gt;
&lt;h2 data-param=”1” id=”bitcoin-cash-litecoin-and-xrp-price-“&gt;Bitcoin cash, litecoin and XRP price &lt;/h2&gt;
&lt;p&gt;&lt;a href=”https://cryptonews.com/coins/bitcoin-cash/”&gt;Bitcoin cash price &lt;/a&gt; finally broke the USD 270 resistance level. BCH even spiked above the USD 280 resistance, but it failed to hold gains. There was a fresh bearish reaction and the price is now approaching the USD 270 support. Any more losses could lead the price back towards the USD 260 support. &lt;br&gt;&lt;a href=”https://cryptonews.com/coins/litecoin/”&gt;Litecoin (LTC) &lt;/a&gt; is up over 5% and it broke the key USD 78.80 and USD 80.00 resistance levels. LTC also traded close to the USD 85.00 level before correcting gains. The price is moving lower, but the previous hurdle near USD 78.80 may possibly act as a strong support zone.&lt;br&gt;&lt;a href=”https://cryptonews.com/coins/ripple/”&gt;XRP price &lt;/a&gt; failed to follow bitcoin and ethereum. It remained capped near the USD 0.535 zone. The price is now trading well below the USD 0.520 level. An immediate support is near USD 0.500, below which the price could dive towards the weekly support at USD 0.480. On the upside, the price must gain momentum above USD 0.520 and then surpass USD 0.535. &lt;/p&gt;
&lt;h2 data-param=”1” id=”other-altcoins-market-today-“&gt;Other altcoins market today &lt;/h2&gt;
&lt;p&gt;In the past few hours, a few altcoins gained over 5%, including XLM, UNI, XMR, AAVE, ENJ, MIOTA, OCEAN, LINK, ADA, and FTT. Out of these, XLM outperformed and it might continue to rise above USD 0.175.&lt;/p&gt;
&lt;p&gt;Overall, bitcoin price is back in a positive zone above USD 18,500 and USD 19,000. Having said that, BTC must surpass the USD 19,500 resistance to increase the chances of a break above USD 20,000. If not, it could move lower in a range towards USD 18,500 or even USD 18,000.&lt;br&gt;_____ &lt;/p&gt;
&lt;h2 data-param=”1” id=”find-the-best-price-to-buy/sell-cryptocurrency:-“&gt;Find the best price to buy/sell cryptocurrency: &lt;/h2&gt;
&lt;figure&gt;&lt;a href=”https://cryptonews.com/price-tracker/” target=”_blank” class=”ignore” rel=”noopener”&gt;&lt;img src=”https://cimg.co/w/articles-attachments/1/5fd/6ff2886610.png” sizes=”(min-width: 640px) 720px, 100vw” srcset=”https://cimg.co/w/articles-attachments/1/5fd/6ff2886610.png 300w, https://cimg.co/w/articles-attachments/2/5fd/6ff2886610.png 600w, https://cimg.co/w/articles-attachments/3/5fd/6ff2886610.png 720w, https://cimg.co/w/articles-attachments/4/5fd/6ff2886610.png 900w, https://cimg.co/w/articles-attachments/0/5fd/6ff2886610.png 1492w” alt=”Bitcoin and Altcoins Respond To Key Uptrend Resistance 102″ class=”content-img”&gt;&lt;/a&gt;&lt;figcaption&gt;&lt;/figcaption&gt;&lt;/figure&gt;
&lt;p&gt;&lt;strong&gt;&lt;a href=”https://blockads.fivefilters.org”&gt;&lt;/a&gt;&lt;/strong&gt; &lt;a href=”https://blockads.fivefilters.org/acceptable.html”&gt;(Why?)&lt;/a&gt;&lt;/p&gt;</description>
<pubdate>Mon, 14 Dec 2020 05:57:00 +0000</pubdate>
<dc:creator>cryptonews.com</dc:creator>
<dc:language>en</dc:language>
<dc:format>text/html</dc:format>
<dc:identifier>https://cryptonews.com/news/bitcoin-and-altcoins-respond-to-key-uptrend-resistance-8606.htm</dc:identifier>
</item>
<item>
<title>Switcheo Network – Understand How OTC Trading Works</title>
<link>https://cryptocontrol.io/r/rss/article/5fd6ee1def638a001d20bba8
<guid ispermalink=”false”>5fd6ee1def638a001d20bba8</guid>
<description>&lt;div class=”td-post-featured-image”&gt;&lt;a href=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading.jpg” data-caption&gt;&lt;img width=”696″ height=”365″ class=”entry-thumb td-modal-image” src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-696×365.jpg” srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-696×365.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-300×158.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-1024×538.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-768×403.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-1068×561.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading-800×420.jpg 800w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/switcheo-otc-trading.jpg 1200w” sizes=”(max-width: 696px) 100vw, 696px” alt=”Switcheo Network – Understand How OTC Trading Works” title=”Switcheo Network – Understand How OTC Trading Works”&gt;&lt;/a&gt;&lt;/div&gt;
&lt;h4&gt;&lt;strong&gt;In our previous articles, we have explained how you can use the &lt;a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-how-to-trade-on-the-switcheo-exchange/”&gt;Switcheo Exchange&lt;/a&gt;, the Switcheo &lt;a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-understand-how-to-stake-swth-token/”&gt;staking platform&lt;/a&gt;, and how you can use the &lt;a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-understand-how-zilswap-works/”&gt;Zilswap protocol&lt;/a&gt;. Apart from these three important features, Switcheo also allows users to do OTC Trading. In this article, we will explore how you can do it, as well as the remaining features supported by the Switcheo network.&lt;/strong&gt;&lt;/h4&gt;
&lt;div id=”ez-toc-container” class=”ez-toc-v2_0_11 ez-toc-wrap-left counter-hierarchy counter-decimal ez-toc-grey”&gt;
&lt;div class=”ez-toc-title-container”&gt;
&lt;p class=”ez-toc-title”&gt;Table of Contents&lt;/p&gt;
&lt;span class=”ez-toc-title-toggle”&gt;&lt;a class=”ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle”&gt;&lt;i class=”ez-toc-glyphicon ez-toc-icon-toggle”&gt;&lt;/i&gt;&lt;/a&gt;&lt;/span&gt;&lt;/div&gt;
&lt;nav&gt;&lt;/nav&gt;&lt;/div&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”Switcheo-OTC-Platform”&gt;&lt;/span&gt;&lt;strong&gt;Switcheo OTC Platform&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;The &lt;a href=”https://switcheo.exchange/otc” target=”_blank” rel=”noopener noreferrer”&gt;Switcheo OTC trading&lt;/a&gt; platform allows crypto buyers and sellers to connect directly. The involved parties set the trading conditions, and once agreed upon, they perform the trade without using any exchange facility.&lt;/p&gt;
&lt;p&gt;Currently, the &lt;a href=”https://switcheo.network/” target=”_blank” rel=”noopener noreferrer”&gt;Switcheo network&lt;/a&gt; offers OTC trading for both the &lt;a href=”https://ethereum.org/en/” target=”_blank” rel=”noopener noreferrer”&gt;Ethereum&lt;/a&gt; and &lt;a href=”https://neo.org/” target=”_blank” rel=”noopener noreferrer”&gt;NEO&lt;/a&gt; networks. It offers a very low fee, and to minimize the risk of trading, it uses a smart contract to act as an escrow.&lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Important:&lt;/strong&gt; For OTC trading, users need to have the minimum amount in the contract balance.&lt;/p&gt;
&lt;p&gt;Login to the Switcheo OTC platform by using this &lt;a href=”https://switcheo.exchange/otc” target=”_blank” rel=”noopener noreferrer”&gt;link&lt;/a&gt;.&lt;/p&gt;
&lt;p&gt;&lt;img class=”aligncenter size-full wp-image-42531″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg” alt=”Switcheo OTC Trading” width=”1283″ height=”768″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg 1283w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-300×180.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1024×613.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-768×460.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-696×417.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1068×639.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-702×420.jpg 702w” data-lazy-sizes=”(max-width: 1283px) 100vw, 1283px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42531″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg” alt=”Switcheo OTC Trading” width=”1283″ height=”768″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2.jpg 1283w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-300×180.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1024×613.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-768×460.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-696×417.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-1068×639.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/landing-2-702×420.jpg 702w” sizes=”(max-width: 1283px) 100vw, 1283px”&gt;&lt;/noscript&gt;
&lt;p&gt;Connect your MetaMask wallet (Ethereum network).&lt;/p&gt;
&lt;p&gt;The users who initiate the OTC trading fill the following details in the fields:&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;Input token&lt;/li&gt;
&lt;li&gt;Receiving token&lt;/li&gt;
&lt;li&gt;Amount of input and output token&lt;/li&gt;
&lt;li&gt;Counterparty address&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;The platform automatically enters your (initiator’s) wallet address in the &lt;strong&gt;My Address&lt;/strong&gt; field.&lt;/p&gt;
&lt;p&gt;&lt;img class=”aligncenter size-full wp-image-42532″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg” alt=”Switcheo OTC Trading” width=”753″ height=”377″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg 753w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-300×150.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-696×348.jpg 696w” data-lazy-sizes=”(max-width: 753px) 100vw, 753px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42532″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg” alt=”Switcheo OTC Trading” width=”753″ height=”377″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade.jpg 753w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-300×150.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/otc-trade-696×348.jpg 696w” sizes=”(max-width: 753px) 100vw, 753px”&gt;&lt;/noscript&gt;
&lt;p&gt;Confirm the transaction by clicking &lt;strong&gt;Create &amp;amp; Sign&lt;/strong&gt;.&lt;/p&gt;
&lt;p&gt;The transaction will appear in the &lt;strong&gt;Pending Trades&lt;/strong&gt; window. The counterparty needs to accept the transaction to complete the trade.&lt;/p&gt;
&lt;p&gt;However, we have noticed that there is some issue with the OTC platform (Ethereum network), and it was throwing an error.&lt;/p&gt;
&lt;p&gt;&lt;img class=”aligncenter size-full wp-image-42533″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg” alt=”Switcheo OTC Trading” width=”668″ height=”318″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg 668w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error-300×143.jpg 300w” data-lazy-sizes=”(max-width: 668px) 100vw, 668px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42533″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg” alt=”Switcheo OTC Trading” width=”668″ height=”318″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error.jpg 668w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/error-300×143.jpg 300w” sizes=”(max-width: 668px) 100vw, 668px”&gt;&lt;/noscript&gt;
&lt;p&gt;We have communicated the issue to the project team. We will update the guide once again when the issue is resolved.&lt;/p&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”DEMEX”&gt;&lt;/span&gt;&lt;strong&gt;DEMEX&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;Demex is the first fully decentralized platform that supports any type of financial market possible. It is set to run on the Switcheo TradeHub decentralized trading protocol.&lt;/p&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”Switcheo-Foundation”&gt;&lt;/span&gt;&lt;a href=”https://switcheo.foundation/”&gt;&lt;strong&gt;Switcheo Foundation&lt;/strong&gt;&lt;/a&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;Switcheo Foundation is an ambitious non-profit project that aims to create a truly open, self-regulating financial market without any intervention of central authority.&lt;/p&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”Listing-Policy-On-Switcheo”&gt;&lt;/span&gt;&lt;strong&gt;Listing Policy On Switcheo&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;To list on the Switcheo DEX, the token projects must meet at least one of the following criteria:&lt;/p&gt;
&lt;ol&gt;
&lt;li&gt;Have high utility.&lt;/li&gt;
&lt;/ol&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;Have more than $50m market capitalization.&lt;/li&gt;
&lt;li&gt;Strong demand for token due to high usage (utility).&lt;/li&gt;
&lt;li&gt;High global liquidity allows external market makers to voluntarily participate with low exposure risk.&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;ol start=”2″&gt;
&lt;li&gt;Will conduct an initial listing on the Switcheo Exchange.&lt;/li&gt;
&lt;/ol&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;Has raised above $1m.&lt;/li&gt;
&lt;li&gt;Up to 10% raised should be committed to providing liquidity until their token is fully usable (utility unlocked).&lt;/li&gt;
&lt;li&gt;Has not been listed on any major exchange.&lt;/li&gt;
&lt;li&gt;Have strong eventual tokenomics (demonstrates utility).&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;ol start=”3″&gt;
&lt;li&gt;Will provide liquidity through the Switcheo DEX’s market-making partners.&lt;/li&gt;
&lt;/ol&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;Have more than $3m market capitalization.&lt;/li&gt;
&lt;li&gt;Have strong eventual tokenomics (demonstrates utility).&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;ol start=”4″&gt;
&lt;li&gt;Is a stablecoin.&lt;/li&gt;
&lt;/ol&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;Is either algorithmic or backed by a Trust company.&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”Switcheo-Account-Security-Features”&gt;&lt;/span&gt;&lt;strong&gt;Switcheo Account Security Features&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;The Switcheo Network offers the following security parameters to maintain a high level of safety in the system as well as to the traders.&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;strong&gt;Multi-layer Trustless Encryption –&lt;/strong&gt; The mnemonics stored on Switcheo are encrypted with the user’s password. Using an isolated service, Switcheo offers an additional layer of encryption that further encrypts this already-encrypted-mnemonic with a strong server-side encryption key before it is stored in the Switcheo database.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Two-Factor Authentication (2FA) –&lt;/strong&gt; Users need to set up two-factor authentication (2FA) before starting trading.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Anti-Phishing Code – &lt;/strong&gt;Users need to set up anti-phishing code while creating an account.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;IP Address Verification – &lt;/strong&gt;The user’s IP address and their location is saved and marked as trusted while verifying the email address during account setup. Each time, the system verifies your details when you try to login with your account. If it is not trusted, then you are required to enter the security code sent to your email.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Isolated Decryption –&lt;/strong&gt; The wallet’s mnemonic key is decrypted completely on the front-end web application without any network communication that protects the exposure of secret keys from the intruder.&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;h5&gt;&lt;span class=”ez-toc-section” id=”Fees”&gt;&lt;/span&gt;&lt;strong&gt;Fees&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h5&gt;
&lt;p&gt;The Switcheo network has a defined fee structure for users. And they have categorized the fee depending upon various levels.&lt;/p&gt;
&lt;p&gt;The different fee structures are as follows:&lt;/p&gt;
&lt;h6&gt;&lt;span class=”ez-toc-section” id=”Trading-Fees”&gt;&lt;/span&gt;&lt;strong&gt;Trading Fees&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Maker:&lt;/strong&gt; A maker is a person who has placed an order, and the order gets added into the open order-book but it is waiting to be matched. No fee is charged when another user fills your order.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Taker:&lt;/strong&gt; When the order placed by you is immediately matched against an order in the order book, in that case, you are a taker. Takers need to pay the full taker and network fee as the activity reduces the exchange’s liquidity.&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Swap:&lt;/strong&gt; For cross-chain atomic swap trading, a taker and network fee is charged from the taker.&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;&lt;strong&gt; &lt;img class=”aligncenter size-full wp-image-42534″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg” alt=”Switcheo OTC Trading” width=”781″ height=”219″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg 781w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-768×215.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-696×195.jpg 696w” data-lazy-sizes=”(max-width: 781px) 100vw, 781px”&gt;&lt;/strong&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42534″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg” alt=”Switcheo OTC Trading” width=”781″ height=”219″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee.jpg 781w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-768×215.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/trading-fee-696×195.jpg 696w” sizes=”(max-width: 781px) 100vw, 781px”&gt;&lt;/noscript&gt;
&lt;h6&gt;&lt;span class=”ez-toc-section” id=”Deposit-Fees”&gt;&lt;/span&gt;&lt;strong&gt;Deposit Fees&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;p&gt;Users need to deposit some &lt;a href=”https://www.altcoinbuzz.io/cryptocurrency-news/product-release/report-offers-deep-dive-into-eth-2-0/”&gt;ETH&lt;/a&gt; in the secure contract before doing trading. The trade amount, along with the gas fee, is deducted from this secure balance.&lt;/p&gt;
&lt;p&gt;Below is the list of the fees charged for depositing tokens.&lt;/p&gt;
&lt;p&gt;&lt;img class=”aligncenter size-full wp-image-42535″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”217″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-768×213.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-696×193.jpg 696w” data-lazy-sizes=”(max-width: 783px) 100vw, 783px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42535″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”217″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-768×213.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/deposit-fee-696×193.jpg 696w” sizes=”(max-width: 783px) 100vw, 783px”&gt;&lt;/noscript&gt;
&lt;h6&gt;&lt;span class=”ez-toc-section” id=”Withdrawal-Fees”&gt;&lt;/span&gt;&lt;strong&gt;Withdrawal Fees&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;p&gt;The withdrawal fee is different for Switcheo account users and non-Switcheo account users.&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Switcheo Account Users&lt;/strong&gt;&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;Switcheo account users are subjected to slightly higher withdrawal fees as two blockchain transactions are required.&lt;/p&gt;
&lt;p&gt;Users need to pay charges for transferring tokens from their secure contract to their wallet balance and again from their wallet to the receiving wallet.&lt;img class=”aligncenter size-full wp-image-42536″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg” alt=”Switcheo OTC Trading” width=”784″ height=”218″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg 784w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-768×214.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-696×194.jpg 696w” data-lazy-sizes=”(max-width: 784px) 100vw, 784px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42536″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg” alt=”Switcheo OTC Trading” width=”784″ height=”218″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU.jpg 784w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-300×83.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-768×214.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/SAU-696×194.jpg 696w” sizes=”(max-width: 784px) 100vw, 784px”&gt;&lt;/noscript&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Non-Switcheo Account Users&lt;/strong&gt;&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;Non-Switcheo account users are charged a withdrawal fee in the withdrawal token’s denomination to transfer the tokens from the exchange smart contract back into your Switcheo account wallet.&lt;/p&gt;
&lt;p&gt;&lt;img class=”aligncenter size-full wp-image-42537″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”220″ data-lazy-srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-768×216.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-696×196.jpg 696w” data-lazy-sizes=”(max-width: 783px) 100vw, 783px”&gt;&lt;/p&gt;&lt;noscript&gt;&lt;img class=”aligncenter size-full wp-image-42537″ src=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg” alt=”Switcheo OTC Trading” width=”783″ height=”220″ srcset=”https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU.jpg 783w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-300×84.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-768×216.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2020/12/NSAU-696×196.jpg 696w” sizes=”(max-width: 783px) 100vw, 783px”&gt;&lt;/noscript&gt;
&lt;h6&gt;&lt;span class=”ez-toc-section” id=”Network-Fees”&gt;&lt;/span&gt;&lt;strong&gt;Network Fees&lt;/strong&gt;&lt;span class=”ez-toc-section-end”&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;&amp;nbsp; &amp;nbsp; &amp;nbsp; Ethereum&lt;/strong&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Maker: &lt;/strong&gt;Free&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Taker: &lt;/strong&gt;Typically – 170,000 to 870,000 GAS x (ETH Gas Price)&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;&amp;nbsp; &amp;nbsp; &amp;nbsp; NEO&lt;/strong&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Maker: &lt;/strong&gt;Free&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Taker: &lt;/strong&gt;001 GAS to 0.002 GAS&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;&amp;nbsp; &amp;nbsp; &amp;nbsp;&lt;a href=”https://eos.io/” target=”_blank” rel=”noopener noreferrer”&gt;EOS&lt;/a&gt;&lt;/strong&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;
&lt;ul&gt;
&lt;li&gt;&lt;strong&gt;Maker: &lt;/strong&gt;Free&lt;/li&gt;
&lt;li&gt;&lt;strong&gt;Taker: &lt;/strong&gt;Free&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;&lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;strong&gt;Conclusion&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;The Switcheo Exchange is one of the very few platforms that provide support to multiple blockchains together. The platform was initially built on NEO but currently supports Ethereum (ERC-20) and EOS tokens. It also allows for cross-chain and OTC trading. The interface is simple and user-friendly. The exchange supports more than 18 languages, which is a plus point. Altogether, it has many attractive offerings that can gather user attention.&lt;/p&gt;

&lt;p&gt;&lt;strong&gt;Resources: &lt;/strong&gt;Switcheo Network &lt;a href=”https://switcheo.network/” target=”_blank” rel=”noopener noreferrer”&gt;website&amp;nbsp;&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;&lt;strong&gt;Read More: &lt;/strong&gt;&lt;a href=”https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/everything-you-need-to-know-about-wing-flash-pool-part-ii/”&gt;Everything You Need To Know About Wing Flash Pool – Part II&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;&lt;strong&gt;&lt;a href=”https://blockads.fivefilters.org”&gt;&lt;/a&gt;&lt;/strong&gt; &lt;a href=”https://blockads.fivefilters.org/acceptable.html”&gt;(Why?)&lt;/a&gt;&lt;/p&gt;</description>
<pubdate>Mon, 14 Dec 2020 04:27:42 +0000</pubdate>
<dc:creator>altcoinbuzz.io</dc:creator>
<dc:language>en-US</dc:language>
<dc:format>text/html</dc:format>
<dc:identifier>https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/switcheo-network-understand-how-otc-trading-works/</dc:identifier>
</item>
</channel>
</rss><body id=”readabilityBody”></body><p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p>
en
text/xml
http://ftr.fivefilters.org/makefulltextfeed.php?url=http:%2F%2Fftr.fivefilters.org%2Fmakefulltextfeed.php%3Furl%3Dhttps%253A%252F%252Fcryptocontrol.io%252Ffeed%252Fcoin%252Fethereum%26max%3D5&max=5


Published at

Tags:

You Might also Like

Leave a Comment

error: Alert: Content is protected !!