Running A Full Node - Bitcoin

From Platform-based Token to the Public Chain, Will CoinEx Embrace a Paradigm Shift?

From Platform-based Token to the Public Chain, Will CoinEx Embrace a Paradigm Shift?
The platform-based tokens shine in 2019, but such prosperity does not cover the disadvantage of their single use. How to find new application scenarios in addition to repurchase and destruction, and transaction fee deduction? The answer given by Binance is to expand the ecosystem of the public chain and develop the platform token into a public-chain token in a broader sense like ETH.
Not long ago, CoinEx announced its plan to launch a public chain. The CET will not just be a token listed on the platform, but also the basic token in the ecosystem of public chains. Unlike the Binance Chain whose partners serve as its nodes, CoinEx Chain chooses nodes according to the votes of ordinary users. Obviously, this is another paradigm shift for the platform-based tokens to expand the application scenarios.
CoinEx Chain is a public chain created by CoinEx’s professional blockchain underlying R&D team for DEX. Different from other DEXs, CoinEx uses three public chains: DEX public chain, Smart public chain and Privacy public chain, three of which parallel each other. They focus on transactions, smart contracts, and privacy respectively, and interoperate through “IBC protocols”.
How to get involved in CoinEx Chain’s ecosystem? A detailed interpretation of the CoinEx DEX’s public-chain node recruitment is provided below.
How to participate in the CET nodes election?
CoinEx’s nodes election rules are simple: Any holder who stakes at least 5 million CET on the chain is qualified, and the first 42 spots in the rankings will automatically be valid validators entitled to the right to generate a block and share proceeds. It should be noted that the process of electing a node is continuous and each block will be ranked.
Responsibilities of validators include preventing double signing and DDos attacks, being online all the time, upgrading nodes and configuration, building the private key storage architecture, and participating in community governance. Besides, there are server hardware requirements for running a node as below:
https://preview.redd.it/qhqk6uliftt31.png?width=1366&format=png&auto=webp&s=02addf13f8d9e619b70ba75e3a6eef2f1313e6f9
After the mainnet is online (expected in early November), the CET withdrawn from CoinEx can be staked on the chain. Once completed, the staking can be canceled at any time, but it takes 21 days for the CET to return to the account.
Private investors holding less than 5 million CET will be entitled to the voting power in the election of validators and receive bonus as rewards.
How are the returns on being a CET validator?
With a study on CoinEx’s node return model, you may find returns on validators mainly come from two parts, respectively, the block reward and transaction fee.
The transaction fee includes the gas fee in the usual sense and the function fee. Relevant gas fees will be charged for any transaction initiated on the chain, and the corresponding function fee will be charged for special operations on the DEX chain. For example, equivalent to a DEX broker, a node will charge users for such operations as order matching, token issuing, trading pairs creating, automated market making with Bancor and address alias setting.
In terms of block rewards, the CoinEx Foundation will provide a total of 315 million CET for five consecutive years. To be specific, it will send out about 105 million CET in the first year and 10 CET for block rewards. Similar to the bitcoin design, block rewards will gradually decrease over time, yet at various levels of frequency. Every year 2 CET will be deducted from the reward for each block.
https://preview.redd.it/tmocf00lftt31.png?width=1566&format=png&auto=webp&s=e68bed2c3513e4665a2101229a0d781ff31f53f5
The basic data of CoinEx is shown in the figure below. According to this condition, the estimated annual income of transaction fee for CoinEx’s validators comes at around 38 million CET, and, if calculated at 50% for the staking rate of the whole network, the annualized rate of return for CoinEx’s validators is 10%.
That is to say, in a case of successful re-election of CoinEx’s validators, the basic token-standard return rate will be around 10% for the first year. This figure will be higher due to the relatively small total stakes in the beginning.
How to calculate the actual income of the year?
Here we’ve summarized a calculation formula where numbers can be quickly inserted for your reference. Suppose the total stakes on a node are a, p% of which is the CET staked by the node itself and q% of which is CET entrusted to be staked by retail traders, the total stakes of the whole network are b, the actual returns distributed by the whole network are c, and the commission ratio of the node is k, then the actual income of the validator for the year is ac(p%+kq%)/b.
For example. Suppose the total stakes at a node are 10 million CET, including 8 million CET staked by the node itself and 2 million CET staked by ordinary CET holders and the commission ratio of the node is 10%. Calculated with the total stakes of the whole network being 1 billion CET and the actual returns distributed being 150 million CET, the actual income of the validator for the year is 1.23 million CET. In such conditions, the annualized rate of return for CET is around 15.3%.
So we can see that the actual income of the CoinEx’s validators can be divided into two parts in terms of asset ownership: incomes from CET staked by the node itself and commissions from CET staked by ordinary holders.
https://preview.redd.it/4ghx0sloftt31.png?width=634&format=png&auto=webp&s=7b8df5a18cc8033c77473017cee7182f1c080c8b
In other words, if a validator can keep the CET public chain in safety, contribute to the development of CoinEx’s ecosystem, and help it gain more attention and favor from ordinary users, it can receive an annualized income that is higher than the basic staking income. Retail users may stake their CET on more professional and responsible nodes, as well as sharing the dividends of the node and the CET public chain.
In the nodes election, the Matthew effect has always been a topic of criticism. So will ordinary token holders drive the centralization of validators according to CoinEx’s rules? The answer is no. Yet just as in the case with all other PoS models, inevitable is moderate centralization, or in other words, the trade-off between decentralization and centralization. That is because, at least mathematically, the annual income from CET staked by retail traders on different validators relies on k, which is the commission ratio of the node, with a and q% of retail traders holding the same amount of CET remaining the same. That is to say, in terms of economic efficiency alone, the income of the retail trader’ votes for different nodes does not depend on the scale, but on the proportion of transaction fee and more implicit reasons such as the security and reliability (or reputation) of a node.
There are many other public chains adopting the “Supernodes” election, and what are the advantages and disadvantages of CoinEx?
There are many public chains adopting such “Supernodes” election mechanism, among which EOS and IOST are best known. So what are the similarities and differences in the nodes election between CoinEx and its counterparts?
From the perspective of the nodes election, IOST needs 2.1 million votes (one vote for one token). According to the price of 0.0044 US dollars when this document is published, it costs at least USD 9,300, a really low threshold. Blocks.io shows that EOS now requires about 290 million votes (30 votes for one token) for the top 21 supernodes. According to EOS REX’s data, if a consortium without a user base wants to get a block-generating right by renting tokens, it will cost around USD 2.55 million a year, approximately RMB 18 million. By contrast, the threshold for a CoinEx Chain’s node is only 5 million CET, a moderate cost of USD 100,000 approximately estimated at USD 0.02.
In terms of hardware, according to the hardware configuration mentioned above, it costs USD 1,000 per year. The estimated operating cost of AWS for t3.xlarge is USD 1,458 per year, and one master with a backup costs only USD 2,916 a year. (The specific data will change slightly in practice.) Take the recommended server for running a node when EOS officially announced its node election. It uses Amazon AWS EC2 host x1.32x Large, with 128-core processor, 2TB memory, 2x1920GB SSD storage space and 25Gb network bandwidth. The operating cost of such a server, with one master and one backup, is: 13.338*24*2 = USD 640 a day. (The bandwidth cost allocated to the day is negligible.) It is thus obvious that CoinEx costs less, avoiding the waste arising from servers such as EOS and thus eliminating the intangible cost.
From the number of nodes, CoinEx Chain has 42 validators, EOS has 21 block-generating nodes per round, and IOST has 63. CoinEx Chain stays in the middle of the decentralization-and-efficiency trade-offs. In addition, the estimated hardware cost of the CET node election is USD 1,000 a year, which is relatively low.
Overall, CoinEx Chain’s nodes election is designed in a reasonable way, which is destined to be a milestone for CoinEx. Once “trade-driven mining” at CoinEx and it has even gone through “repurchase and destruction”. Now it targets the DEX public chain, which is deemed as a paradigm shift that lifts CET out of the pattern of being platform-based tokens. Let’s look forward to its future development.
Follow CoinEx Chain on Social Channels:
Twitter: https://twitter.com/CoinExChain
Facebook: https://www.facebook.com/CoinExChainOfficial/
Telegram: https://t.me/CoinExChainOrg
submitted by CoinExcom to Coinex [link] [comments]

Comment acheter facilement des Bitcoin ! TUTO BINANCE 2020 ... how to open Binance exchange to buy bitcoin&cryptocurrency ... Buying bitcoin: Binance or Coinbase?  Bitcoin Basics (86 ... Crypto Tutorial: Move Bitcoin to Friends Easy Peasy Breezy ... how to open Binance account to buy bitcoin or crypto - YouTube Primeros pasos en BINANCE - YouTube Bitcoin Trading Guide If You're Trading Indian Market ... Record $816M in Bitcoin leaves Binance — Are whales ... BINANCE FUTURES. ДЛЯ НОВИЧКОВ. BITCOIN ФЬЮЧЕРСЫ - YouTube COMO VENDER TUS BITCOIN CON USDT EN BINANCE P2P - YouTube

Surprisingly, all you need is an AWS EC2 instance to start mining Ethereum. I’m sure you’ve already heard of the cryptocurrency craze way before reading this post. Cryptocurrencies are slowly and quietly revolutionizing the way financial systems and transactions work (and should work in my opinion). With Bitcoin hitting its $18K mark not awhile ago, a current total of $316B in market cap ... Binance Coin Price; Monero Price; MimbleWimbleCoin Price ; How to; Trade Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform – and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative ... Binance, líder en el intercambio de monedas, ha creado recientemente un token vinculado a Bitcoin basado en el estándar Binance Chain BEP2 que estará disponible para el comercio en las plataformas Binance.com y Binance DEX.. Un anuncio publicado por el exchange en su blog el lunes 17 de junio indica que en los próximos días se acuñarán más tokens de criptomonedas vinculadas en el ... api amazon-ec2 network-programming bitcoin ethereum. share improve this question follow asked Jan 18 '18 at 22:19. PierceT PierceT. 1 1 1 bronze badge. Two suggestions: One, don't ask for more information than you absolutely need. Two, measure to see what's taking the time -- is it mostly time to open the connection, time to send the query, time to first byte of reply, time to receive ... Bitcoin mining refer to using a node to verify transactions, ... Proceed to AWS, under EC2 console, select Spot Requests. Select Request for Spot Instance Under AMI: Search for ami-84f819f9 in community AMIs Under Instance Type, select g2.8xlarge; Click Next and launch the instance. By this step, you should see a instance coming up. The reason why we choose ami-84f819f9 under AMI is to get an ... Click the large blue Download Bitcoin Core button to download the Bitcoin Core installer to your Downloads folder. Optional: Verify the release signatures. If you know how to use PGP, you should also click the Verify Release Signatures link on the download page to download a signed list of SHA256 file hashes. The 0.11 and later releases are signed by Wladimir J. van der Laan’s releases key w I've installed python-binance successfully on both Mac and Windows machines before and can't figure out what's going on. I then installed gcc as per comments below and am getting the following errors: Bitcoin News. Google News Bitcoin; Bitcoin.com; Cryptocoins Exchanges. Coinbase ; Kraken ; CEX.IO; Binance These can be based on cloud computing services like Amazon EC2, Microsoft Azure, and Google Compute Engine. Platform as a service (PaaS): provides platforms allowing customers to develop and deploy acquired or consumer-created applications to a cloud computing platform. AWS Elastic Beanstalk, Heroku, and Google App Engine are some examples of ... ICO & DAICO, Bitcoin & Litecoin Investor, Cryptocurrency Trader. Greater New York City Area 138 connections. Join to Connect. Binance. Universidad Rafael Belloso Chacín. About. I am an analyst ...

[index] [7251] [21091] [2521] [19108] [16469] [7280] [13649] [13354] [477] [4907]

Comment acheter facilement des Bitcoin ! TUTO BINANCE 2020 ...

how to open Binance account to buy bitcoin or crypto binance link: https://www.binancezh.pro/en/register?ref=XW91KRSO buy crypto and bitcoin by binance excha... Binance saw its biggest Bitcoin ( BTC ) outflow in history on Nov. 3, according to data from CryptoQuant. A total of 58,861 BTC were withdrawn on a single da... how to open Binance exchange to buy bitcoin #cryptotradingexchange #binance # howtoopen Binance link: https://www.binancezh.pro/en/register?ref=XW91KRSO buyi... Buy Bitcoin on: https://coincompass.com/binance https://coincompass.com/coinbase Should I buy bitcoin on Coinbase or Binance? A comprehensive, pragmatic & be... Bitcoin Trading Guide If You're Trading Indian Market Binance ***** More Info ***** Website Link: https://nextlevelbot.com/ Binance... 🎁🎁 JOURNAL DE TRADING OFFERT ️ https://www.bourseprofits.fr/cadeaux/ 🎁 FORMATION GRATUITE : https://www.bourseprofits.fr/formation-gratuite/ ️ Rejoindre ... Binance Регистрация (скидка 40% на комиссию): https://www.binance.com/ru/register?ref=54712273 Регистрируясь по этой ... LINK DE BINANCE : https://www.binance.com/es/register?ref=X7KGZW1N Dirección Bitcoin: 19SpKZp7zCrMsWQ4M772PXMDN2HYFAwuVA Dirección ETH : 0x94a836c9006fd9ef08... 🌃 Sit down one-on-one with me in today’s how to move bitcoin on mobile easy peasy breezy tutorial. Guys as you know Bitcoin is now on a bullrun, reaching 15k... Como vender tus bitcoin con usdt en binance p2p tutorial paso a paso En esta ocasión sacamos un +1.58% 🔴Binance: https://bit.ly/2HQvzMi (20% MENOS en comis...

#