Trader X - Official Channel

2021-03-24 14:59:43 Open / Comment

2021-03-24 14:59:38 The top Decentralized Derivatives DEX ⟶ Injective Protocol

Injective Protocol is a Cosmos-based decentralized derivatives exchange.

In a brief, it will allow users to trade spot swaps and futures in a decentralized way. They'll also be able to structure their own derivatives and build a marketplace for them on the platform. Users can finally be able to issue their own decentralized derivative contracts.

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Technically, it's built with Ethermint and implemented as a Cosmos SDK module. This essentially means it has one significant advantage over the majority of Ethereum-based DEXs on the market: throughput.

This is due to the fact that it is a layer 2 cosmos zone, which means it is not subject to the same congestion as other Ethereum-based DEXs. Furthermore, since it is based on Cosmos, you can exchange properties other than ERC 20 tokens. This is mostly due to the essence of how Cosmos stones work after all.

Moreover, Injective Labs is sponsored by Pantera Capital and Binance in terms of collaborations. Second, the team is quite capable, and they've been working on the protocol for quite some time; in fact, they've been working on it since 2018.

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They recently launched their Solstice Testnet, which appears to be as hot as the Summer Solstice. The excitement in the community for this Testnet launch was huge. It also received some media attention, with articles appearing on sites such as Cointelegraph.

The injective team recently launched version two of their Testnet just eight days after version one was released.

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When it comes to the tokenomics of the INJ token, it really has some pretty good ones. Just a small portion of the total supply is circulating; just 13.5 million INJ, or 13% of the total supply. It was in such high demand in the IEO that once trading began, the price immediately rallied.

For the time being, these tokens can be used to pay transaction fees until the main net is launched. These fees are then burned, resulting in a decrease in the circulating stock. At that point, tokens are removed from the market and staked on the network, resulting in two factors that the price can remain positive.

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As we've seen in the DEFI room, the trait of decentralization is a significant valuation metric in the token. Finally, since Injective Protocol has a low market capitalization, higher return multiples are likely to occur. Open / Comment

2021-03-23 23:26:00 BTC on exchanges are continuously decreasing and we just had a 14k BTC outflow from Coinbase. Open / Comment

2021-03-23 22:11:12 Uniswap v3, the most flexible and capital efficient AMM ever designed!

Mainnet launch is scheduled for May 5, with a scalable Optimism L2 deployment set to follow soon after. Open / Comment

2021-03-23 03:04:26 Open / Comment

2021-03-23 03:04:19 Enjin is roaring -Jumpnet is coming

Enjin announced the future release of its scalability solution on March 3, 2020. Although everyone was expecting Efinity in 2021, Enjin shocked us with the never-before-seen "JumpNet" solution and cross-chain support. Enjin's two-sided approach aims to become the go-to solution for NFTs, as JumpNet will work in partnership with Efinity to create a thriving platform

But what is Jumpnet anyway? JumpNet is a high-speed Ethereum-Enjin bridge that allows for free and instant transactions. ENJ and ERC-1155 NFTs will be provided by Jumpnet.

Furthermore, anybody can benefit from JumpNet's power by minting and distributing Non-Fungible tokens without having to pay any GAS fees.

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And what about Efinity ? The time release of the platform is still unknown, yet it said to be released in 2021.

It is 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, with the results settled on the Ethereum chain in a far more cost-effective manner.

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Enjin may have already given something around 15x return since the beginning of the year, yet there is so much room for progress. Get on board folks Open / Comment

2021-03-22 04:12:26 Open / Comment

2021-03-22 04:12:17 Forget your basic cloud storage. Filecoin is here.

With the advancement of technology, the way we manage, store, and access our data has changed drastically. Nowadays, cloud storage systems have been widely adopted by businesses.

Similarly, the consumer data storage environment has undergone major changes, resulting in increased demand for and reliance on cloud storage.

And now to the point, how Filecoin differs from Amazon S3 or Google Cloud Storage ?

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Filecoin is a distributed open source network and decentralized data storage system enabling as many people as possible to add hard drives, taking advantage of unused storage space to establish a decentralized, distributed storage infrastructure.

It enables customers to choose the best storage without having to negotiate with provider contracts that are locked in or high prices for in-demand storage.

Organizations or individuals with unused storage space can give it on the network by sharing their resources, and they will be compensated with Filecoin in exchange (FIL).

In a similar way to how Airbnb has allowed individuals and small businesses to compete with large-chain hotels, Filecoin enables everyone to become a storage provider.

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Regarding the mining process of Filecoin’s token (FIL), miners must consistently prove that the data they are storing is still there in order to win rewards. To become a miner, you don't need any special hardware (such as in PoW).

Actually the block reward is not proportional to H/s, but the contributed amount of storage.

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Filecoin's two consensus algorithms ensure that network storage is publicly verifiable: Proof-of-Replication (or PoRep) and Proof of Spacetime (or PoSt) make the job here.

Proof-of-Replication is the consensus for persuading a verifier that any data has been replicated to its own dedicated physical storage. Proof-of-Spacetime is used to show that once an agreement is made, the miner is storing the data over time

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Some problems of Filecoin’s fundanmentals has to do with the problem of “centralization”. A large majority of data storage providers aka miners are located in China. If the most miners are based in the same jurisdiction, there is a chance of procedure and regulation violations.

However, as global storage demand increases, this could help to increase the distribution of storage miners and ensure greater geographical dispersion.

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Anyway, Filecoin has a great perspective towards global file storage system. And don’t forget, Filecoin is one of a few cryptos which has recently earned Grayscale’s trust. So be aware, there is more room for pump. Open / Comment

2021-03-21 22:27:48 BTC USD
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Price formed an inside week so there are lows and highs untested both lower and higher. For now price looks good, as long as it holds above 57.5k. Breaking through the lows sends us straight to 51k support which would result in more than 15% drawdown in most altcoins. Take care.

Monday will probably show the trend of the week, if you see early Londong pumping you want to buy, if you see it selling you want to reduce exposure.

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

2021-03-21 02:38:41 Open / Comment