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16th November 2020 – Centralized exchanges have been the backbone of the cryptocurrency market for years. They offer fast settlement times, high trading volume, and continually improving liquidity. However, there’s a parallel world being built in the form of trustless protocols. Decentralized exchanges (DEX) require no middlemen or custodians to facilitate trading.

Due to the inherent limitations of blockchain technology, it has been a challenge to build DEXes that meaningfully compete with their centralized counterparts. Most DEXes could improve both in terms of performance and user experience.

Many developers have been thinking about new ways to build a decentralized exchange. As a result of this innovation, MoonDeFi has been created as a project that’s part of the Decentralized Finance (DeFi) movement.

How does MoonDeFi Work?

Basically, MoonDeFi has two main elements: Swap and Staking (Farming). And when users participate in any of the above activities, they will receive a certain profit.

Now, let’s take a closer look.

What is the MoonDeFi Protocol?

MoonDeFi is a protocol on Ethereum for swapping ERC20 tokens. Traditionally, token swaps require buyers and sellers to create liquidity; MoonDeFi creates markets automatically. Unlike most exchanges that charge fees, MoonDeFi was designed with a very low fee structure without any fees.

MoonDeFi solves the liquidity problem by allowing automatic token swaps, but unlike modern centralized exchanges, it is a decentralized exchange, there is no middleman at all, and neither side is called an intermediary.

Traders can exchange Ethereum tokens on MoonDeFi without having to trust anyone with their money. Anyone can lend their cryptocurrencies to the liquidity pool and collect a fee. This is done by an equation that automatically determines and balances the value based on actual demand. This is one of the first fully decentralized protocols for automated liquidity provision in DeFi

How MoonDeFi’s Protocol Works

MoonDeFi is an automatic liquidity marketplace, so, there is no order book or central party required for the transaction, and MoonDeFi allows users to act as a one-stop-shop for any type of exchange, be it a token exchange or a trading platform.

To enable trading without an order book, MoonDeFi has developed a model called the liquidity pool, which is created by liquidity providers. Anyone with an Ethereum address can contribute to the liquidity of exchange and make money from it. It allows users to exchange ERC20 tokens, including the native ETH token, without intermediaries.

There is one important thing that users should keep in mind: they can seamlessly switch between ERC-20 tokens without the need for an order book. As the MoonDeFi Protocol is decentralized, the listing process is fully decentralized and there is no liquidity pool available for traders. 

How to Swap Tokens on MoonDeFi

Let’s say somebody hasn’t used Moon Protocol before, so there is one question here: how can they swap tokens on it? The answer is also a special part of Moon. MoonDeFi’s main distinction from other decentralized exchanges is the use of a pricing mechanism called the “Constant Product Market Maker Model.” 

Any token can be added to Moon by funding it with an equivalent value of ETH and the ERC20 token being traded. For example, if a user wanted to make an exchange for an altcoin called Token A, they would launch a new Moon smart contract for Token A and create a liquidity pool with, for example, $10 worth of Token A and $10 worth of ETH. Now, the user is a Liquidity provider.

Once a token has its own exchange smart contract and liquidity pool, anyone can trade the token or contribute to the liquidity pool while earning a liquidity provider fee of 0.3%. Ok, that’s the way a Liquidity Provider can earn profit from Swap. 

Staking/Farming on MoonDeFi

The innovative Defi platform MoonDeFi has recently made liquidity mining available to users. After the Liquidity Providers contribute their coins to the pool, they will receive LP tokens. Liquidity Providers can use those tokens to participate in the Staking Program with a high profit rate. The reward will be distributed among users who deposit funds to the liquidity pool and join this program. Besides, Staking program is also applied for holders of other tokens. 

MoonDeFi automatically searches for the latest and most efficient DeFi platforms. It then optimizes productivity with the latest algorithms that can find highly profitable, at the same time very affordable groups for the user. Users then benefit at a steady rate of interest through farming.

At MoonDeFi, when users stake a coin/token, they will receive an interest of 30-40% a year, but when users become a liquidity provider and stake their LP tokens, the interest can go up to 45%, a number that is truly different from those of other platforms.

Among the tokens users can stake, MOON, the native token of the MoonDeFi platform itself, is the one with the highest interest rates. It is only issued in a certain small number of 210 million tokens.

So, in summary, MoonDeFi is a more complete version of other DeFi platforms, with  the transaction fee earnings of 0.3% of trading for Liquidity Providers and the staking interest up to 45% annually. 

An Announcement from the MoonDeFi Team

Currently, bounty and marketing programs are being launched, the total reward is up to 10 million MOON, equivalent to 10 million USDT. All interested parties need to do is to write blog content or make videos about the project, with each individual reward being up to 150 MOON (~150 USDT). 

For more detailed information on these two programs, please visit this link.

Twitter: @moondefi_info

Telegram channel: t.me/moondefiofficial

Telegram group: https://t.me/moondefiofficialgroup

Medium: @moondefigroup

Reddit: @moondefi

Media Contact Details

Contact Name: MoonDeFi Support

Contact Email: support@moondefi.org

MoonDeFi Contract & Token Addresses

Contract: 0x765b2d50dE69219A418383F79a4973568d537F90

Token: 0x71924a8d733ae1bbc18d243e1deb56e767440eb6

The post Introducing MoonDeFi, a New Part of Decentralized Finance appeared first on NullTX.

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11th November 2020, Limassol, Cyprus – Leading crypto casino 1xBit is launching an exciting new live casino tournament based on the famous board game, Monopoly. Much like traditional Monopoly the game involves multiple players who take turns at rolling two six-sided dice to move around the game buying and developing properties, earning money in the process.

Staying Sharp

Already one of the most enjoyable and widely played board games in the world, Monopoly (and board games in general) have also been linked to other health benefits. According to a study by psychologists at the University of Edinburgh people who play games (such as cards and board games) are more likely to stay mentally sharp in later life. Those who regularly played non-digital games scored better on memory and thinking tests, reducing stress, and more.

Big Prize Monopoly Tournament

This November, Evolution Gaming and Live Casino Vivo Gaming invite fans of the game to compete in the captivating atmosphere of the board game Monopoly, and be in the running to win a prize pool of 1BTC ($15,400 at the time of writing). The prize will be shared among 10 places, with the first getting half of the pool (0.5 BTC or 500mBTC). 

1xBit is a highly reputable betting site that has combined both competitiveness and a friendly vibe in this new live casino tournament, CRYPTOMONOPOLY. 

7BTC Welcome bonus

New users who have just signed up usually receive a Welcome Bonus, also known as a sign-up bonus. 1xBit rewards users who register on the platform with a welcome bonus of up to 7 BTС for their first four deposits. New players can claim a 100% bonus up to 1 BTC for their 1st deposit, a 50% bonus up to 1 BTC for their 2nd deposit, a 100% bonus up to 2 BTC for their 3rd deposit, and a 50% bonus up to 3 BTC for their 4th deposit.

Why Choose 1xBit?

There are now more than 25 cryptocurrencies available on the platform for you to choose from and use to bet. 1xBit is also fully anonymous, so players don’t have to worry about their data getting out there. The company understands the importance of privacy on the internet, so it has streamlined the sign-up process and does not ask anyone to compromise their privacy.

There is also a cashback of 11% for VIP players who want that little bit extra, and in excess of 200 available games, including Live Baccarat, Live Blackjack, Live Jackpot, Live Poker, Live Roulette, Live Sicbo, Live Monopoly, Live Over/Under, Live Deal or no deal, and Live Dice.

Tournament Details

The unique CRYPTOMONOPOLY competition will start on November 11, 2020, at 00:00 GMT and lasts till December 6, 2020, at 23:59 GMT. All fans of gambling can participate in this tournament to win from the prize pool, in addition to having the fun experience of playing their favorite board game live online.

To participate in the exciting upcoming CRYPTOMONOPOLY tournament, sign-up and get all the benefits from 1xBit, as well as stand a chance to win from the tournament prize pool.

For more information about 1xBit, please visit – https://1xbit.com/

Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/

Media Contact Details

Contact name: Anastasia Semenova

Email: marketing@1x-bit.com

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

The post 1xBit Announces New Live Casino Game CRYPTOMONOPOLY With 1BTC Prize Pool appeared first on NullTX.

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Singapore, Singapore, 9th November, 2020, // ChainWire //

Swingby is the “warp-speed” protocol for inter-blockchain swaps. It allows all DeFi users to move assets between blockchains without a trusted party.

Today, Swingby announces its first mainnet network will be released on the 28th of December; it will bridge native Bitcoins onto Ethereum via Wrapped BTC (WBTC).

The initial bridge will enable the most liquid digital asset in the world (Bitcoin), currently valued at a $300 billion market cap, to be moved onto the Ethereum network to tap its $10b DeFi ecosystem.

“This launch will be pivotal to Swingby. After December 28th, Swingby will have a fully operational Chaos-Mainnet network which will be generating a tremendous amount of value to the world of DeFi and bringing in a large number of new users” – Yusaku Senga, CEO

Why is this big news for DeFi?

On December 28th, Swingby will be launching its first Chaos-Mainnet bridge, allowing users to easily move their bitcoins into WBTC on Ethereum without the need for a trusted party. Similarly, the bridge can be used in the opposite direction allowing WBTC-ERC20 tokens to be moved back into native BTCs.

What’s so special about it?

1. Trustless: Swingby’s Skybridge will be the only way to trustlessly swap BTC into wrapped Bitcoin (WBTC).
2. Simple to use: The Swingby bridge has been designed to work with standard transaction types removing the need for complex smart contract calls and allowing the bridge to work with any wallet.
3. Community rewards: Users willing to provide liquidity and governance to the Swingby bridge will be rewarded a share of the fees for each swap processed.

Discover the three core use cases of the Bitcoin to Ethereum bridge.

More news is coming!

Leading up to launch on December 28th, the team will be announcing some key partnerships with projects that have helped deliver the Chaos-Mainnet bridge and some additional venues that will be providing liquidity to the SWINGBY token.

To help spread awareness of this event, which will change Swingby forever, the team will be hosting a series of Q&As and giveaways for our superhero community.

About Swingby

Swingby Labs was launched in Singapore in 2018 by a group of crypto enthusiasts joining forces to make the tools to connect Bitcoin with other blockchains.

Swingby’s protocol, Skybridge, builds trustless bridges between BTC, Ethereum, Binance Chain and other blockchains secured by a network of node groups that execute fast token swaps using ‘multi-party computing’ and layer 2 technology.

Skybridge allows users to move Bitcoin tokens between the Bitcoin, Ethereum and Binance Chain blockchains without relying on a central custodian, opening up a whole world of DeFi capabilities such as liquidity pooling and DEX trading with easy to use UX.

Swingby plans to launch its Ethereum MainNet on december 28th, bringing Bitcoin to an ecosystem which already has $10b in capital locked up in DeFi contracts. Building on exciting partnerships with projects such as Elrond, Waves and Kira Protocol, Swingby aims to expand its reach to other chains and projects, adding support where the most value can be added.

The Skybridge testnet bridge has transacted over $14 Billion in testnet BTC capital between the Bitcoin and Binance Chain blockchains, and its decentralized technology has been fully battle tested in live high volume environments.

 

Contacts

Chief Executive Officer

• Jacob Plaster
• Swingby
• jacob@swingby.network

The post Ready for Chaos? Swingby’s Chaos-Mainnet Launches on December 28th appeared first on NullTX.

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Bitcoin Press Release: With the US presidential election taking place on November 3rd, 2020 industry-leading betting site 1xBit is giving the world the chance to bet on the outcome, and win big. 

November 2nd 2020, Limassol, Cyprus – With the U.S presidential election just around the corner, the pressure is mounting on both candidates, sitting president Donald Trump and former Vice President Joe Biden. 

Americans (and the world) consider this to be a particularly important election which will determine how the country will fare for the next four years in the face of COVID-19, which has already severely affected the U.S economy in this year. 

Some polls have been conducted ahead of the coming election, and some reports say that Biden is ahead of Trump, albeit marginally. For instance, according to a BBC report, Biden scored 51% of the votes in one of the polls, while Trump got 42%. 

However if the 2016 election is any guide, polls must be taken with a pinch of salt, and anything can happen in this race. The two candidates are weighed based on their strengths and weaknesses. Trump is also weighed based on his performance in the last four years.

Pros and Cons of the Candidates

For the prospective gambler each candidate can be seen to have their own individual pros and cons. Trump voters would argue that their candidate possesses charisma and strong character, but those against Trump could question his handling of the COVID-19 pandemic and raise the issue of increasing national racial unrest since his appointment in 2016. 

Those looking to bet on Joe Biden could argue that he possesses a vast experience in politics, has integrity, and is more compassionate than his counterpart. On the other hand Trump believers would argue that Biden is questionable with expressing his thoughts with clarity, as seen during the presidential debates. Regardless of political views, both candidates are in with a good chance at victory and this one could go down to the wire. 

Ongoing Polls and Forecasts

So far, Biden is maintaining the lead in the national presidential polls, which shows that he holds a slender lead across those who have already voted. Biden is also winning in the battleground states, where a large turnout of early voters was recorded. More than 64 million people have already cast their votes ahead of the election, as they vote in a similar manner across states. Currently Biden looks to emerge as the preferred candidate in the national elections.

Bet on Politics with 1xBit

These elections resonated stunningly not only in American society, but also throughout the world.  Measuring the success of a candidate by his popularity in betting is common practice in modern politics, and therefore highly regarded crypto betting platform 1xBit is offering everyone to check out their competitive odds, and take part in this massively important race! 

New users get a welcome bonus of up to 7 BTC on sign-up, (which takes only a few minutes) and use more than 20 cryptocurrencies to bet. Anyone can place bets anonymously without revealing any personal details, and winnings can easily be withdrawn to a personal wallet without paying any fee.

As the U.S presidential election day draws closer, anyone can benefit from betting on the outcome on 1xBit. Several bonuses and incentives now await new and existing gamblers on their candidate pick. 

For more information about 1xBit, please visit – https://1xbit.com/

Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/

Media Contact Details

Contact name: Anastasia Semenova

Email: marketing@1x-bit.com

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

The post Place Bets on the Upcoming US Presidential Election on 1xBit appeared first on NullTX.

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28th October 2020, Limassol, Cyprus – Can you hear it? Is that a wolf howling? A witch’s laughter? Oh, it’s an omen that brings fright, fun, and a new terrific tournament, Witching Hour! As the Halloween season approaches, the well-known crypto casino 1xBit brings users a top gambling game to fit the spirit of the season and make Halloween fantasies become a reality.

Be Careful, Dark Forces Are Round the Corner

The witching hour is the time of night when unnatural forces become most powerful, and our world is filled with spirits… Spirits of Gambling! This year’s Halloween will not just be as usual with the new live casino tournament, which is designed for this time when the fans of gambling can do so during the coming Halloween.

This is a game particularly suited for those who are fascinated by Halloween and the creepy and scary feeling that comes with it. Do you want to spend Halloween alone at home without going out and still have the full Halloween experience? This tournament brings all of the above into reality with the creepy feelings of the Witching Hour.

Young, adorable witches wait for the players at the tables from Ezugi, and playing any table game from this provider can bring generous prizes – the winner of the tournament will get 500 mBTC. 

The event starts on October 30, 2020, at 00:00 GMT and will await players with the best rewards and thrilling emotions, so they can enjoy the fun of the season. 

This includes variable amounts of BTC for different places, as follows:

• 1 place – 500 mBTC;
• 2 place – 250 mBTC;
• 3 place – 100 mBTC;
• 4 place – 50 mBTC;
• 5-6 places – 20 mBTC;
• 7-10 places – 15 mBTC.

There are several benefits of taking part in tournaments on 1xBit, the leading crypto casino. First, you get a welcome bonus of up to 7 BTC if you are signing up on the website for the first time. The crypto wallet on your account will support over 25 cryptocurrencies, so you have many options to work with. What’s more? The casino is completely anonymous, which means your identity is not revealed to anyone.

There are over 100 game providers with more than 5,000 slots on 1xBit so that you can play many more games if you wish to get as many rewards as possible with live dealers also available. These are in addition to several other benefits and incentives, which the platform provides for players, such as easy and free withdrawal of rewards.

The Witching Hour is Upon Us 

The Witching Hour live casino tournament is perfect for online gamblers looking to get into the spirit of Halloween, take advantage of a generous 100% welcome bonus, and be in the running for some huge crypto prizes. 

For more information about 1xBit, please visit – https://1xbit.com/

Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/

Media Contact Details

Contact name: Anastasia Semenova

Email: marketing@1x-bit.com

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

The post 1xBit Launches New Live Halloween Casino Tournament ‘Witching Hour’ appeared first on NullTX.

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Bitcoin Press Release: Bitcoin community-driven betting platform LuckBit have announced some of the best promotions available today. This includes a 100% instant deposit bonus of up to $1,000, a 15BTC max winand a transparent, tiered affiliate program. 

21st October, 2020, Curacao – Founded in 2013 as a Bitcoin Community project, LuckyBit is known for its original in-house developed games, transparent nature and huge payouts. The community based LuckyBit casino is now offering everyone the chance to claim an instant deposit bonus of up to $1,000 for a first deposit, and win a 15 BTC prize from a single bet. 

In addition to these industry-leading payouts; LuckyBit is willing to share up to 50% of the site’s entire gaming revenue with the sites affiliate program allowing players to earn passive income with their well planned, transparent and tiered program.

Win Up To 15BTC And A 100% Instant Deposit Bonus

LuckyBit players can win a massive 15 BTC prize from a single bet. The odds of hitting a 15BTC jackpot are not high, so LuckyBit have decided to double everyone’s chance at winning, with a 100% instant deposit bonus, up to $1,000 USD. To try and cater for whales and minnows alike, LuckyBit has a 3-tiered deposit bonus structure, so everyone can benefit from the promotion.   

Tier 1: Players depositing up to $1,000 will get an additional $1,000 bonus instantly in their account. To withdraw the bonus or winnings players will need to wager the bonus amount (deposit+bonus) 55x within 15 days, after which time the bonus will expire.

Tier 2: The second tier enables players depositing up to $500 to double their deposit, and only have to wager their (deposit+bonus) 45x within 15 days from their second deposit.

Tier 3: Players depositing up to $250 will also double their deposits, and can withdraw their funds by simply wagering the total (deposit + bonus) 35x within 15 days.

Earn Passive Income as a LuckyBit Affiliate 

A huge 50% of it’s gaming revenue can be allocated for the renowned LuckyBit affiliate programme. This generous company standard stays true to LuckyBit’s provably fair business model, while offering its users a transparent, competitively tiered revenue share model. 

The affiliate program takes into consideration the total of all bets made, less payouts, bonuses and fees to come to a calculation of the ‘net gaming revenue’. The total revenue is then divided using a 5-tiered share model, with new affiliates guaranteed a minimum 35% share of revenue for the first three months of their membership. 

Tier 1 (0-1 BTC Revenue) – 25% Share

Tier 2 (1-3BTC Revenue) – 30% Share

Tier 3 (3-10BTC Revenue) – 35% Share

Tier 4 (10BTC – 25BTC Revenue) – 40% Share

Tier 5 (25+ BTC) – 50% Share

Players simply have to share their referral link with new players. These players then sign-up using that link, deposit money (get that sweet 100% bonus) and start betting for the chance to win up to 15 BTC. 

No Negative Carryover (NNCO)

Players at LuckyBit are protected by something called NCCO. This means that negative revenue results for LuckyBit, (like players winning large sums of BTC) will not affect affiliate players chances for payouts next month. In this event, Instead of losing BTC players balance would just be reset to 0. 

The LuckyBit affiliate programme gives everyone the chance to create risk-free passive income in BTC, in addition to the many generous promotions, the 15BTC prize and transparent, unique gaming experience that they are known across the industry. 

Win up to 15 BTC on LuckBit Plinko –  https://luckyb.it

Join the Affiliate programme – https://affiliate.luckyb.it/

BitcoinTalk Thread – https://bitcointalk.org/index.php?topic=5211259.640

Follow LuckyBit on Twitter – https://www.twitter.com/luckybitgames

Follow LuckyBit on Facebook – https://www.facebook.com/luckybitgames/

LuckyBit on Instagram – https://www.instagram.com/luckybitgames/ 

Media Contact Details

Contact name: Martin Prinosil

Email: martin@luckybit-entertainment.com

LuckyB.it is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

The post Bitcoin Casino LuckyB.it Offers Winnings up to 15 BTC and a $1000 Instant Deposit Bonus appeared first on NullTX.

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Bitcoin Press Release: Popular crypto casino 1xBit has launched a tournament with multiple online games, including a new game called Crazy Time as the main event. The prize fund for the tournament is 1500 mBTC. 

22nd October 2020, Limassol, Cyprus – Leading crypto casino 1xBit is launching an exciting new tournament and live casino game, called Crazy Time. The live event commenced on October 19th, 2020, at 00:00 GMT and will end on November 15th, 2020, at 23:59 GMT. 

Known for its large-scale tournaments, 1xBit has a new game to spearhead it’s latest event. Crazy Time is a fun-filled casino spin game, with live dealers, a vivid design, and a high-tempo style game-play.

Bonus Games and Transparency

Crazy Time is one of the 1xBit games with the lowest house edge, and is the best live casino game right now that has 4-bonus games. The game is based on the Dream Catcher principles, but adds advanced RNG technology for enhanced transparency, so there is no way that players can cheat.

Crazy Time is certainly the focal point of the tournament, but there are many other games to play. The event boasts the very best games from leading providers like Evolution Gaming, EZUGI, and VIVO Gaming. The tournament offers real money prizes with a fund of 1500 mBTC, which will be distributed to the top 15 players as follows: 

• 1st place – 700 mBTC;
• 2nd place – 400 mBTC;
• 3rd place – 100 mBTC;
• 4th, 5th place – 50 mBTC;
• 6th-15th place – 20 mBTC.

The Best Casino to Win Big

1xBit has become a leader in the crypto world as the company continues to revolutionize the online gambling scene with exclusive new games, consistent tournaments, and big prizes. Players can benefit from the use of over 20 different cryptocurrencies, to win real money, and withdraw those winnings in a matter of minutes. 

1xBit is known for its big bonuses, and has a long-standing welcome bonus of up to 7 BTC available to every new player and a VIP cashback that can reach up to 11%. 1xBit is a fully anonymous casino, highly regarded in the industry, with an easy registration and a trusted brand. Anyone can create an account without providing your private credentials, and the platform generates a login and password for instant access to the site. 

Live Games

With 200+ live casino games to choose, 1xBit treats gambling lovers to a variety of Live game options, including Baccarat, Blackjack, Jackpot, Poker, Roulette, Sicbo, Monopoly, Over/Under, Deal or no deal, and Dice. 

The tournament is already underway but it is not too late to join and have a chance at winning some of the 1500mBTC in prizes. 

For more information about 1xBit, please visit – https://1xbit.com/

Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/

Media Contact Details

Contact name: Anastasia Semenova

Email: marketing@1x-bit.com

1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

The post 1xBit Launches New Casino Tournament and Crazy Time Live Casino Game appeared first on NullTX.

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Singapore, Oct. 14,2020 — MXC (www.mxc.com), a leading and reputable cryptocurrency provider of spot, margin, contract, leveraged ETF, index products, contract, PoS staking, and OTC services, offers its support to the Ethereum Classic (ETC) project. Following multiple 51% attacks against the ETC network, MXC Exchange will cooperate with their team and implement the proposed upgrades to ensure a smooth operation of the network.

Ethereum Classic and 51% Attacks

Three 51% attacks were launched against the Ethereum Classic blockchain in July and August of 2020. . These 51% attacks are problematic, as they allow for potential double-spend transactions.

This attack, however, ensured that network nodes – running either Parity or OpenEthereum – were incapable of processing the reorganization as a result, these nodes become desynchronized from the ETC network, forcing the developers to come up with a solution. That solution will be fully supported by MXC Exchange, as the team wants to help ensure no further attacks against Ethereum Classic can be organized.

The Ethereum Classic team including ETC Labs, its ETC Core development team with support from OpenRelay and ChainSafe, on block 11380000, have implemented  ECIP-1100. Also known as “MESS”  (Modified Exponential Subjective Scoring), an innovative and low-risk approach to prevent 51% attacks and improving security for PoW blockchains.

MESS would prevent 51% attacks by treating large block reorgs as suspect and making them prohibitively expensive, removing all profit motive. It would force large reorgs used to launch attacks to have significantly greater difficulty and common ancestor time. For example with MESS implemented, the recent attacks in August would have needed more than 155T/H sustained over many hours in order to be successful, costing approximately $20M. The best way to secure the network  is to ensure the cost of a blockchain reorganization makes it economically unfeasible to orchestrate. After all, every 51% attack is performed out of financial incentive. Once that incentive is no longer attainable, the network can continue in peace. 

All of these precautions are necessary to ensure the network remains safe from harm. More details on the exact implementation of MESS can be found here.

As a side effect of these changes, users running an Ethereum Classic node will need to switch their software to CoreGeth. This will be the only client to support MESS. Neither Parity nor OpenEthereum have indicated support for this new proposal, but that situation may come to change in the future. 

With the help of MXC Exchange, who will upgrade its own ETC node to CoreGeth, an important first step has been taken. MXC Exchange has been at the forefront of the cryptocurrency industry and its reputable projects. 

MXC Exchange Head of Global Operations Alex states:

“We are committed to support the Ethereum Classic project and its community. As a long-standing ETC node operator, upgrading to CoreGeth is our way of expressing the importance of MESS and bringing more security to the Ethereum Classic network. We will continue to operate our node on the network and ensure operations can resume as normal.”

In doing so, MXC Exchange is the first major exchange to provide outspoken support for this crucial change affecting the Ethereum Classic ecosystem. Being at the forefront of innovation and going the extra mile for their community, MXC Exchange further solidifies its position in the overarching cryptocurrency industry. 

“MESS will enable exchanges to safely reduce confirmation times and ensure that miners will not lose block rewards; stabilizing the network and allowing it to return to growth,” said James Wo Founder and Chairman of ETC Labs.

About MXC Exchange

Established in April 2018, MXC Exchange is one of the world’s leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services. The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.

Image(s): Shutterstock.com

The post MXC Exchange Supports Ethereum Classic’s new MESS Solution to Mitigate 51% Attacks appeared first on NullTX.

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