Trader X - Official Channel

2021-04-09 15:13:00 I know many people don’t like my bearish view on BTC. I am not trying to call a top here, BTC is in a super cycle however biggest runs have also their sub trends. Personally I think 60k is a resistance that will push price lower, wipe out leveraged players… Open / Comment

2021-04-09 12:21:15 BTC USD Save this https://www.tradingview.com/x/QvbUFesM/ Open / Comment

2021-04-08 14:09:50 Enjin -> Another scaling solution after Jumpnet -> Efinity

Efinity, described as the "Multi-Chain Highway for NFTs," would be multi-chain interoperable, meaning Enjin will accept tokens from any current or future blockchain network.

Actually Efinity is Enjin's own sidechain scaling solution built on top of the Etherum blockchain, allowing (ERC-20 & ERC-1155) transactions to be completed in under a second on the Efinity network, at least as it is advocated, with the results settled on the Ethereum chain in a far more cost-effective manner.

Furthermore, Users will be able to stake ENJ to win EFI (Efinity's native token) once Efinity is released. EFI can be used as a transaction fuel as well as a governance token for the Enjin community.

With the addition of smart-contracts with the Efinity launch, NFT-based applications and Decentralized Finance Dapps can be developed, similar to what we've seen on Ethereum and Binance Chain.

Polkadot will be used by Efinity. Via the proof-of-stake consensus system, it will have an initial throughput ability of processing transactions every six seconds, with 1,000 transactions every second. Although a thousand transactions per second which sound good(not that good as Elrond or Solana), Efinity focuses on its interoperability.

Hey, Enjin's scaling approach would ultimately accept NFTs from all blockchains, resulting in an NFT metaverse. The official release of Efinity is said to launch later, during December 2021. Open / Comment

2021-04-07 22:40:55 BTC USD

Save this

https://www.tradingview.com/x/QvbUFesM/ Open / Comment

2021-04-06 19:24:19 Combating scalability issues

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Concerning scalability, despite the fact that many projects claim to have reached this stage, none or few of them can accommodate a broad user base. When a few hundred nodes validate transactions for just 50,000 active users, a transaction throughput (TPS) of 6,000 might be sufficient, but what happens when the same network must serve millions of users at once?

Therefore, we should be thinking transaction speeds in relation to the number of users. In that case, we don’t truly know the workload capacity that blockchains had to reach at a stage of global adoption. After all, the more users use the network, the slower the network becomes, leading to significant latency

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There are potential solutions experimented by several projects such as a hard fork, layer 2 solutions such as the lighting network, increasing block size, sharding, multiple blockchains, side chains, proof of stake algorithms etc.

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So as to solve the case of network congestion, some projects implement the interesting approach of sharding, which propose to partition the whole network (comprising nodes, blocks, consensus, and transaction history) into several smaller networks (shards), with some form of coupling among them (to handle inter-shard transactions). The idea is that smaller groups of nodes will crunch data quicker, and the random distribution ensures that no one is stuck doing all the work

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A must mentioned masterpiece of efficient sharding is adaptive state sharding of Elrond, where the blockchain can handle real-time shard splitting and merging, as networks capacity requires change. Open / Comment

2021-04-05 19:03:48 The Coinbase effect

This well-known phenomenon in the Crypto world explores and measures the positive effects on asset prices when new listings are announced.

The premise behind the ‘Coinbase effect’ goes something like this ~> When an asset that doesn’t have a market on other large exchanges becomes available to trade on the world’s perhaps most accessible exchange, it immediately gains exposure to a new set of market participants & gains in value.

The effect has been thoroughly investigated before in many exchanges, while it has been concluded that Coinbase listing lead to higher returns. After all its relatively limited asset offering adds some creditability to new listings.

However, investors and traders should separate listing announcements and actual listing on Coinbase or another popular exchange such as Binance. What I mean is that when assets are listed after an announcement, its price tends to rally before the actual trading date (The prelisting gains) and by the time these assets are available for trading, this effect leads to either minimal increases, or even selloffs.

On the contrary, assets that are listed in the exchange by surprise, without an announcement and hence without these prelisting gains, attract a positive tweet sentiment, leading to massive double-digit gains on the initial trading day.

According to eToro's Q4 report on digital asset patterns, Coinbase listings in 2020 saw a median return of more than 24% on the day that Coinbase announced they will be listed (approximately a week in advance). Nine out of ten performed well on the day of their listing announcement, while most listed cryptos continued to rise in price till the listing day, dropped on the listing day, and then fell even further on the day after that.

The report shows that while Coinbase listings have the most impact, returns are significant across all popular exchanges. Open / Comment

2021-04-05 18:39:40 Imo BTC tops out soon, keeps distibuting, alts getting their final big pump.

Be prepared. You want to sell mega euphoria. Although it sounds weird, there will be no supercycle like this.

Scale has changed, market has changed BTC will hit 100k but maybe a new cycle has to come. Open / Comment

2021-04-04 23:32:00 1st of April Coinbase saw yet another 12k $BTC outflow — scarcity on the exchanges picking up Open / Comment

2021-04-03 18:01:17 Certik – How much do you trust the blockchains?

The blockchain security CertiK, founded by computer science professors from Yale and Columbia Universities, is based on the Cosmos blockchain (SDK). It has a decentralized proof mechanism that allows you to check a particular smart contract to see if it contains errors and whether it contains vulnerabilities to hacker attacks. It has conducted audits for top crypto exchanges Binance, Huobi, OKEx and more than 100 top-shelf blockchains and DeFi protocols such as Matic, Thorchain, Tera, Bancor, Tether, etc.

CertiK Chain uses Delegated Proof-of-Stake (DPoS) consensus and aims to inspire both crypto and non-crypto enthusiasts to trust blockchain technology. The CertiK Chain works in tandem with the Security Oracle, the CertiKShield, the Reimbursement Pool, and a stable programming language (DeepSEA) to ensure the highest level of security for various forms of block-chains, from development to implementation.

Security is relevant in both CeFi & DeFi environments. After all, smart contracts are entrusted to supervise code that may be managing billions or millions of dollars in the DeFi environment, rather than putting confidence in corporate organizations. Since smart contracts are permanent after they have been implemented, security bugs in the code must be solved before they can be used.

CertiKShield is the reason of this security protection. CertiKShield was developed to provide provable trust/auditing for all projects, from creation to launch and beyond. Hyundai is one of the international businesses that uses CertiKShield for defense.

CertiK (CTK) is the CertiK ecosystem platform's native utility token, which is used for gas consumption for smart contract operations, staking and rewarding, collateral and reimbursements for CertiKShield, security Oracle network participation, and group voting for decentralized network governance.

CertiK has a market cap of 133$ million and a total token supply of 100,000,000 CTK. Certik is a low cap crypto with good tokenomics, and with a rather to the point use case, hence It may worth it to hold it for a while. Open / Comment

2021-04-03 01:36:57 Inflation vs Deflation

When it comes to tokenomics inflation/deflation mechanisms and total supply are something to watch for. Considering fiat, Inflation is the reason why your grandmother paid less for a dozen eggs than you do (printing too much money does the job).

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Nevertheless, this is not something seen in cryptocurrencies. There is a capping limit of tokens that ever to be created (max supply). Inflationary uncapped cryptos, just like your Dogecoin, without max supply will continue “printing” their coins until the end of time, just like fiat currencies. In this case, you might find your tokens suddenly losing value as additional coins start to flood the market.

However, an inflation is not necessarily an issue, as long as it's low (just in the case of Ethereum where it’s inflation rate is getting lower over the years), and as long as you aren't planning on waiting to sell when you retire.

It is also important to mention that inflation is used by many projects to incentivize network participation. In general, inflation is used by Proof of Stake cryptos to incentivize validators and delegators on their network. Inflation is also used to reward liquidity providers and yield farmers with DeFi tokens.

However, the sort of aggressive token inflation that is used to pay liquidity providers in many Defi protocols will probably cause several issues in the first place. With these tokens, it is best to follow the wise words of finance's creator: “do not buy it, earn it”.

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On the other side of the fence, so as to battle the inflation problem that wrecks fiat as well, the implementation of deflationary models is vital. Inducing scarcity through burning or reducing of the rate of produced coins, is helpful driving up the value of the token assuming that demand stays constant.

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Therefore, even if in the case that the demand on Bitcoin does not increase (quite unlikely for the digital gold), the price eventually will go up as the supply continues to decrease. And even worse, how many private keys have become unrecoverable? Therefore, how many people are encouraged to hold their BTC ?

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Now, let’s play the devil’s advocate. In the case of a continuously limited production of coins, users are encouraged to hoard coins, not spend them. Wait a minute, is it really a currency or a commodity? When we are talking about Bitcoin as a payment asset, yes, it is somewhat a problem.

But the real problem does not lie here. In Proof of Work cryptocurrencies, such as Bitcoin, miners are paid through the inflation process of mining. However, BTC rewards decrease over time, so miners will be less encouraged to participate as the rewards will consist entirely of transaction fees, making mining unsustainable. In the worst case, the situation of Tragedy of Commons emerges, where miners are acting on their economic interest, in a way that does not benefit the network Open / Comment