Mazim Crypto Academy channel

2022-10-01 10:28:43 Educational Post:

What Is Etherscan and How to Use It?

Etherscan is a blockchain explorer for the Ethereum network. The website allows you to search through transactions, blocks, wallet addresses, smart contracts, and other on-chain data. It's one of the most popular Ethereum blockchain explorers and is free to use.

Using Etherscan can help you understand exactly how you interact with the blockchain, other wallets, and DApps. This knowledge can also help you stay safe and spot suspicious behavior.

To use Etherscan, you'll need a wallet address, transaction ID (TXID), contract address, or another identifier to paste into the search field. The information you'll see will depend on what you're looking at, but most of it will include associated transactions, addresses, timestamps, and amounts.

You can also interact directly with smart contracts to make transactions, check gas fees, and search for airdrops through Etherscan.

Why should I use Etherscan?

Etherscan is one of the most trusted and popular block explorers for Ethereum. However, it’s more important to understand why you should use a block explorer like Etherscan to check on-chain information. Having more knowledge of how you interact with the blockchain can help you better understand what's going on with DApps and transactions. This knowledge can also keep you safe and help you spot suspicious blockchain activity.

For example, whale alerts let you know if large amounts of a cryptocurrency have been moved onto an exchange. While not always the case, this information might suggest a large sell-off. You can also see what the founders of a project are doing with their project's tokens. This can help you spot potential scams or rug pulls, where developers abandon their projects and sell their coins. Open / Comment

2022-09-29 10:13:18 Good morning, house Open / Comment

2022-09-27 15:17:22 It's a bearish season and the reasons are not hard to find: The US keeps increasing interest rates to control the high inflation Open / Comment

2022-09-27 15:16:12 I've been absent for a while now due to unavoidable reasons. I am back now. Open / Comment

2022-09-27 15:14:54 With a hawkish Fed policy and DXY expected to rally higher, I want to see a brief $BTC rally to $21,500 which coincides with 50% of the highlighted bearish D1 candle. After which there should be a lower pricing to target the weekly lows at $17,500. Open / Comment

2022-08-30 10:59:17 USDT circulating supply keep increasing and whenever the stable coin dominance hit the supply trend line we see a bottom in BTC price or say a start of new rally. Stablecoin dominance is now again moving towards the circulating supply trend line and this is sign of possible BTC bottom. We may see an upward rally from mid September or early October. Open / Comment

2022-08-30 10:58:33 #Glassnode data

Bitcoin  Long-Term Holder Supply in Loss remains near historical cycle highs, with only 193 out of 4421 trading days (4.4%) closing with greater BTC denominated losses.

This suggests LTH profitability is under extreme bear market stress. Open / Comment

2022-08-28 13:33:33 Happy New week Open / Comment

2022-08-24 09:00:19 Educational Post:

An Introduction to Binance Bridge

Currently, there is a bit of an issue in the crypto space. Different blockchains can’t talk to each other. If you make a Bitcoin transaction, the Ethereum blockchain won’t be able to know that it happened. If we zoom out a little bit and look into the future, this problem will likely be solved somehow with new technology. However, a much faster solution that is already available now is wrapped coins and tokens. 

Wrapped tokens let you use coins and tokens native to other blockchains as tokens on a different chain, such as Binance Smart Chain. We’ve already seen how this can work with tokenized BTC on Ethereum. The Binance Bridge Project introduces this concept to Binance Chain and Binance Smart Chain.

What is the Binance Bridge Project?

The Binance Bridge Project is a cross-chain bridging service that aims to increase interoperability between different blockchains. It essentially lets anyone convert selected coins into wrapped tokens (or “pegged tokens”) to be used on Binance Chain and Binance Smart Chain. This brings digital assets such as BTC, ETH, LTC, XRP, LINK, ATOM, DOT, XTZ, ONT, and more to the Binance Chain ecosystem.

By using the Binance bridge protocol, you can access cross-chain liquidity on Binance Chain and Binance Smart Chain with just a few clicks.

How does the Binance Bridge Project work?

Wrapping a coin or token into a Binance Chain version is quite straightforward. Using the Binance Bridge service, you can convert crypto assets between the native blockchain and Binance Chain/Binance Smart Chain. For example, if you transfer USDT from Ethereum to Binance Smart Chain, Binance Bridge will support the cross-chain conversion of Ethereum ERC-20 to Binance BEP-2 or BEP-20. It’s worth noting that these wrapped coins are backed by real coins and tokens on public addresses.

Currently, the Binance Bridge Project supports ERC-20  and TRC-20 cross-chain transfers. As you may already know, ERC-20 is a widely popular token standard on Ethereum. TRC-20 is a similar standard for the TRON network. and TRC-20 cross-chain transfers. As you may already know, ERC-20 is a widely popular token standard on Ethereum. TRC-20 is a similar standard for the TRON network. Open / Comment

2022-08-17 10:13:16 Educational Post:

What Are Blockchain Transaction Fees?

Transaction fees serve two essential purposes when it comes to blockchain networks. They reward miners or validators who help confirm transactions and help protect the network from spam attacks.

Transaction fees can be both small or large, depending on the network activity. Market forces can also influence the fees you pay. While high fees can hinder wider blockchain adoption, very low fees could potentially bring security concerns.

Why transaction fees?

Transaction fees are and have been an essential part of most blockchain systems since their inception. You are most likely to have come across them when sending, depositing, or withdrawing crypto.

The majority of cryptocurrencies use transaction fees for two important reasons. First of all, fees reduce the amount of spam on the network. It also makes large-scale spam attacks costly and expensive to implement. Secondly, transaction fees act as an incentive for users that help verify and validate transactions. Think of it as a reward for helping the network.

For most blockchains, transaction fees are reasonably cheap, but they can get quite expensive depending on network traffic. As a user, the amount you choose to pay in fees determines your transaction's priority in being added to the next block. The higher the fee paid, the quicker the confirmation process. Open / Comment