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Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

updating a .gs to retrieve CoinMarketCap data following their transition to new API

Hi, I have been using the following simple .gs to pull CoinMarketCap prices but it is broken now with their migration to their new API. I believe the issue lies with "function getCoins()" but I'm not sure how to proceed given CoinMarketCap's guide here: https://coinmarketcap.com/api/documentation/v1/#section/Quick-Start-Guide
var queryString = Math.random();
var ss = SpreadsheetApp.getActiveSpreadsheet(); var ssRates = ss.getSheetByName('Rates'); if (ssRates === null) { ssRates = ss.insertSheet('Rates'); }
var targetCurrency = 'usd'
// Grabs all CoinMarketCap data if (typeof targetCurrency == 'undefined' || targetCurrency == '') {targetCurrency = 'usd'}; var coins = getCoins();
function getCryptoData() {
// Use the value in the 'id' field here: https://api.coinmarketcap.com/v1/ticke?limit=0 // If you're getting errors, you may be using the wrong 'id'
var myCoins = [ '0x', 'adelphoi', 'adx-net', 'aeternity', 'aion', 'aigang', 'airswap', 'appcoins', 'aeron', 'aragon', 'ardor', 'ark', 'aurora-dao', 'banyan-network', 'bitclave', 'bancor', 'basic-attention-token', 'binance-coin', 'bitcoin', 'bitcoin-cash', 'bitcoin-god', 'bitcoin-gold', 'bitcoin-interest', 'bitcoin-token', 'bitcoin-private', 'bitcoinx', 'bitcore', 'bitdegree', 'bitsend', 'bitshares', 'block-array', 'blockmason', 'bytecoin-bcn', 'c20', 'canyacoin', 'cardano', 'chatcoin', 'cheesecoin', 'cindicator', 'civic', 'cofound-it', 'counterparty', 'coss', 'cpchain', 'cybermiles', 'dash', 'datum', 'decred', 'digibyte', 'digixdao', 'district0x', 'dogecoin', 'dragonchain', 'edgeless', 'enjin-coin', 'eboostcoin', 'enjin-coin', 'eos', 'eosdac', 'ethereum-classic', 'ethereum', 'ethlend', 'everex', 'factom', 'filecoin', 'funfair', 'gas', 'gnosis-gno', 'golem-network-tokens', 'groestlcoin', 'guppy', 'havven', 'huobi-token', 'icon', 'iconomi', 'ignis', 'invictus-hyperion-fund', 'iostoken', 'iot-chain', 'iota', 'internet-of-people', 'ixledger', 'kucoin-shares', 'kyber-network', 'legolas-exchange', 'library-credit', 'litecoin', 'lightning-bitcoin', 'maker', 'medical-chain', 'mercury', 'metronome', 'monero', 'nano', 'neo', 'newton-coin-project', 'nexus', 'oax', 'omisego', 'omni', 'odyssey', 'origintrail', 'patientory', 'pivx', 'phore', 'polymath-network', 'power-ledger', 'qash', 'qtum', 'quantstamp', 'raiden-network-token', 'ravencoin', 'rchain', 'reddcoin', 'republic-protocol', 'rialto', 'ripio-credit-network', 'ripple', 'rise', 'rlc', 'salt', 'semux', 'siacoin', 'singulardtv', 'snovio', 'solaris', 'spreadcoin', 'steem', 'stellar', 'storj', 'stratis', 'streamr-datacoin', 'suncontract', 'syscoin', 'telcoin', 'tenx', 'tezos', 'theta-token', 'time-new-bank', 'tron', 'turtlecoin', 'ubiq', 'ultranote-coin', 'vechain', 'verge', 'veriumreserve', 'vertcoin', 'viacoin', 'vibe', 'viberate', 'vinchain', 'wabi', 'waves', 'wax', 'worldcore', 'zcash', 'zclassic', 'zcoin', 'zencash', ]
ssRates.getRange('A1').setValue("ID"); ssRates.getRange('B1').setValue("Symbol"); ssRates.getRange('C1').setValue("Price USD"); ssRates.getRange('D1').setValue("Price BTC");
var myCoinsObj = {}; var myCoinsCount = myCoins.length; for (var i = 0; i < myCoinsCount; i++) { var c = i+2; var n = 0; while (coins[n]['id'] !== myCoins[i]) { n++; }
myCoinsObj[coins[n]['id']] = coins[n]; ssRates.getRange('A'+(c).toString()).setValue(myCoinsObj[myCoins[i]]['id']); ssRates.getRange('B'+(c).toString()).setValue(myCoinsObj[myCoins[i]]['symbol']); ssRates.getRange('C'+(c).toString()).setValue(myCoinsObj[myCoins[i]]['price_usd']); ssRates.getRange('D'+(c).toString()).setValue(myCoinsObj[myCoins[i]]['price_btc']); 
}
// ================================= // // WALLET BALANCE CONFIGURATION // // =================================
// ===== Wallet Sheet Creator ======================================== // Uncomment the lines of code below // It will create the Wallets sheet for you // If using the Wallets sheet ALWAYS leave it uncommented // ===================================================================
//var ssWallets = activeSpreadsheet.getSheetByName('Wallets'); //if (ssWallets === null) {ssWallets = activeSpreadsheet.insertSheet('Wallets');}
// ===== BCH Wallet Balances ========================================= // Uncomment the lines of code below // Set the variable by pasting your Address inside of the ("") // Change getRange('A1') and getRange('B1') to match the row you want // ===================================================================
//var bchWallet = getBchBalance("Your BCH Address"); //ssWallets.getRange('A1').setValue("BCH Wallet"); //ssWallets.getRange('B1').setValue(bchWallet);
// ===== BTC Wallet Balances ========================================= // Uncomment the lines of code below // Set the variable by pasting your Address inside of the ("") // Change getRange('A2') and getRange('B2') to match the row you want // ===================================================================
//var btcWallet = getBtcBalance("Your BTC Address"); //ssWallets.getRange('A2').setValue("BTC Wallet"); //ssWallets.getRange('B2').setValue(btcWallet);
// ===== Ethereum Wallet Balances ==================================== // Create an account on Etherscan.io // Create an API key at https://etherscan.io/myapikey // Uncomment the lines of code below // Set the API key variable by pasting your API key inside of the ("") // Set the address variable by pasting your Address inside of the ("") // Change getRange('A3') and getRange('B3') to match the row you want // ===================================================================
//var ethApiKey = "Your Etherscan API Key"; //var ethWallet = getEthBalance(ethApiKey,"Your ETH Address"); //ssWallets.getRange('A3').setValue("ETH Wallet"); //ssWallets.getRange('B3').setValue(ethWallet);
// ===== DGB wallet balances ========================================= // Uncomment the lines of code below // Set the variable by pasting your Address inside of the ("") // Change getRange('A4') and getRange('B4') to match the row you want // ===================================================================
//var dgbWallet = getDgbBalance("Your DGB Address"); //ssWallets.getRange('A4').setValue("DGB Wallet"); //ssWallets.getRange('B4').setValue(dgbWallet);
// ===== LTC wallet balances ========================================= // Uncomment the lines of code below // Set the variable by pasting your Address inside of the ("") // Change getRange('A5') and getRange('B5') to match the row you want // ===================================================================
//var ltcWallet = getLtcBalance("Your LTC Address"); //ssWallets.getRange('A5').setValue("LTC Wallet"); //ssWallets.getRange('B5').setValue(ltcWallet);
// ===== VTC wallet balances ========================================= // Uncomment the lines of code below // Set the variable by pasting your Address inside of the ("") // Change getRange('A5') and getRange('B5') to match the row you want // ===================================================================
//var vtcWallet = getVtcBalance("Your VTC Address"); //ssWallets.getRange('A6').setValue("VTC Wallet"); //ssWallets.getRange('B6').setValue(vtcWallet); }
function onOpen() { var ss = SpreadsheetApp.getActiveSpreadsheet(); var menubuttons = [ {name: "clearRates", functionName: "clearRates"},{name: "getCryptoData", functionName: "getCryptoData"}]; ss.addMenu("crypto", menubuttons); }
function clearRates() { var sheet = SpreadsheetApp.getActive().getSheetByName('Rates'); sheet.getRange('A1:D1000').clearContent(); }
function getCoins() {
var url = 'https://api.coinmarketcap.com/v1/ticke?limit=0&convert='+targetCurrency; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var json = response.getContentText(); var data = JSON.parse(json);
return data; }
function getBchBalance(bchAddress) {
var url = 'https://bitcoincash.blockexplorer.com/api/add'+bchAddress+'/balance'; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var balance = response.getContentText(); //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance * Math.pow(10,-8); }
function getBtcBalance(btcAddress) {
var url = 'https://blockexplorer.com/api/add'+btcAddress+'/balance'; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var balance = response.getContentText(); //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance * Math.pow(10,-8); }
function getEthBalance(ethApiKey,ethAddress) {
var url = 'https://api.etherscan.io/api?module=account&action=balance&address='+ethAddress+'&tag=latest&apikey='+ethApiKey; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var json = response.getContentText(); var obj = JSON.parse(json); var balance = obj.result; //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance * Math.pow(10,-18); }
function getDgbBalance(dgbAddress) {
var url = 'https://chainz.cryptoid.info/dgb/api.dws?q=getbalance&a='+dgbAddress; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var balance = response.getContentText(); //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance; }
function getLtcBalance(ltcAddress) {
var url = 'https://chainz.cryptoid.info/ltc/api.dws?q=getbalance&a='+ltcAddress; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var balance = response.getContentText(); //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance; }
function getVtcBalance(vtcAddress) {
var url = 'http://explorer.vertcoin.info/ext/getbalance/'+vtcAddress; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var balance = response.getContentText(); //Pause to not trigger API limit for multiple wallets Utilities.sleep(300);
return balance; }
// USE AT YOUR OWN RISK function getRate(currencyId) {
if (typeof targetCurrency !== 'undefined') {conversionRate = 'usd'};
var url = 'https://api.coinmarketcap.com/v1/ticke' + currencyId + '/?convert=' + targetCurrency; var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var json = response.getContentText(); var data = JSON.parse(json); var obj = parseFloat(data[0]['price_' + targetCurrency]);
return obj; }
function getWebRate(currencyId) { //Example Output: // '=IMPORTXML("https://coinmarketcap.com/currencies/zeeyx?3908288283","//span[@id=\'quote_price\']")';
var coinScrape1 = '=IMPORTXML("https://coinmarketcap.com/currencies/'; var coinScrape2 = '","//span[@id=\'quote_price\']")';
return coinScrape1 + currencyId + '?' + queryString + coinScrape2; }
function getCurrencyConversion(currencyOne, currencyTwo) {
var url = 'https://api.fixer.io/latest?symbols='+currencyOne.toUpperCase()+','+currencyTwo.toUpperCase(); var response = UrlFetchApp.fetch(url, {'muteHttpExceptions': true}); var json = response.getContentText(); var data = JSON.parse(json);
return parseFloat(data['rates'][currencyTwo]); }
submitted by neekolas86 to GoogleAppsScript [link] [comments]

General info and list of exchanges for NUSD (NUSD)

A decentralised payment network and stablecoin v0.8 Samuel Brooks, Anton Jurisevic, Michael Spain, Kain Warwick Abstract There is currently no decentralised currency useful for everyday economic purposes. We propose a peer-to-peer payment network and price-stable token that does not rely on a central authority to maintain trust. Prior to Bitcoin, attempts to create digital currencies were centralised, making them vulnerable to censorship and seizure. Bitcoin’s consensus mechanism protected it from interference, but its fixed monetary policy induced extreme price volatility. Havven solves this by issuing tokens against a distributed collateral pool, which derives its value from fees levied on transactions. Growth in transaction volume thus increases the value of the collateral, allowing the token supply to expand to meet demand. The resulting system retains the best features of Bitcoin, while the introduction of price stability results in a superior form of money.
1.1 Payment Networks Payment networks are closed systems within which users can transfer value. Such systems include credit card networks, the SWIFT network, and PayPal. Proprietors of these networks possess absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time. Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible. In a traditional payment network like American Express, participants trust that the fees charged are sufficient to service the expenses incurred. However, were this trust to disappear, merchants would refuse to participate. Thus, the value of the unit of account within this network is derived solely from a single entity and the trust that participants have in that entity. As a result, the viability of any centralised payment network depends on complete trust in a central authority. Bitcoin solved these problems by ensuring that users have sole discretion over the money in their account by producing a trustless, permissionless payment network in which anyone could participate at will. Since users could enter and exit the system at any time without being exposed to the aforementioned risks, adoption was accelerated, and network effects were amplified. Programmable blockchains allow the logic of a payment network to be decentralised in a transparent way, enabling anyone to verify whether the network is solvent. This eliminates systemic risk and reduces the costs associated with centralised networks. 1.2 Cryptocurrency The technology of money has three key functions: to act as a unit of account, a medium of exchange and a store of value. As payment technology has advanced in recent years, money has become increasingly invisible and it is often lost upon its users that, like any technology, it can be improved. Bitcoin and other cryptocurrencies represent an impressive technological advancement on existing forms of money because they deliver improved durability, portability, and divisibility. Further, they do so without requiring centralised control or sovereign enforcement from which to derive their value. Their fixed monetary policies have protected them from debasement and devaluation, allowing them to outperform other forms of money as a store of value. However, this has created the potential for short-run volatility as they lack mechanisms to dynamically adjust supply to changing demand. Bitcoin has thus tended to be a poor medium of exchange and an even worse unit of account. In order for a token to effectively act as money its purchasing power must remain stable against goods and services over the short to medium term. 1 1.3 Stablecoins Cryptocurrencies exhibit transaction immutability and censorship resistance, and in these ways are a better form of money; but their adoption has been hindered by the volatility inherent in their static monetary policies. Users cannot engage with such systems as a medium of exchange if the purchasing power fluctuates. Stability continues to be one of the most valuable yet elusive characteristics for the technology. Stablecoins are cryptocurrencies designed for price stability. They should ideally be as effective at making payments as fiat currencies like the US Dollar, while retaining their other desirable properties. A decentralised payment network built on a stablecoin would be able to capture all the benefits of a permissionless system, while also eliminating volatility. One approach to achieving price stability is to produce a token whose price targets the value of a fiat currency. Targeting stability against fiat currencies obviates the need to respond to macroeconomic conditions, as the token then benefits from the stabilisation efforts of large institutions acting in fiat markets. Furthermore, if a token’s price can be maintained at $1, then it can serve as an interface between fiat money and cryptocurrency. If such a stablecoin does not require an account in a traditional bank, then it can be effectively used for settlement and purchasing, without the centralisation and counterparty risk involved in fiat transactions. Thus it can be expected that by using stablecoins, exchanges that trade fiat for crypto will be able to rapidly reduce their transactional costs, reducing the barriers for new users to enter the market. 1.4 Distributed Collateral Today’s fiat money is not backed by an asset; its stability is derived from the authority of the governments which issue it. These governments require that tax obligations are denominated in the currencies they control, which are then used to fund active stabilisation efforts. However, with government control comes the risk of tyranny and debasement. Decentralised monetary systems don’t have these powers, and so they must use collateral to provide confidence in the value of their tokens. A decentralised system cannot use collateral assets that exist outside the blockchain, as interfacing with these assets necessitates centralisation with the aforementioned failure modes. Meanwhile, cryptoasset prices have been dominated by speculative volatility. So whether a system uses real-world assets or cryptoassets to back a stable token, if the value of the collateral is uncorrelated with the demand for the token, then the system is vulnerable to external price shocks. Large corrections can destroy the value of collateral without any change in the demand for the token issued against it. Clearly then, in designing an asset-backed stablecoin it is important to select the collateral asset carefully, but no existing asset perfectly serves the purpose. 2 1.5 Havven Havven is a decentralised payment network where users transact directly in a price-stable cryptocurrency. Those who use the stablecoin pay fees to those who collateralise the network, compensating them for the risks of providing collateral and stability. Collateral providers control the money supply, and fees are distributed in proportion with each individual’s stabilisation performance. Thus, Havven rewards suppliers of stability and charges those who demand it. Havven implements two linked tokens to achieve this structure: Nomin The stablecoin, whose supply floats. Its price as measured in fiat currency should be stable. This token is useful insofar as it provides a superior medium of exchange. Thus in addition to price stability, Havven should encourage adequate nomin liquidity. Havven This token provides the collateral for the system and has a static supply. Its market capitalisation reflects the system’s aggregate value. Ownership of havvens grants the right to issue a value of nomins proportional to the dollar value of havvens placed into escrow. If a user wishes to release their escrowed havvens, they must first present the system with the quantity of nomins previously issued1 . The havven token is a novel decentralised asset, whose intrinsic value is derived from the fees generated in the network it collateralises. This enables a form of representative money in which there is no requirement for a physical asset, thus removing the problems of trust and custodianship. Issuance of nomins requires a greater value of havvens to be escrowed in the system, providing confidence that nomins can be redeemed for their face value even if the price of havvens falls. The system incentivises the issuance and destruction of nomins in response to changes in demand, but ultimately the intrinsic value of the havvens will reflect the required nomin supply. Backing a stablecoin in this way provides full transparency over how many tokens have been issued against the available collateral. This provides a solid basis for confidence in the solvency of the payment network built upon it. Denominating the value of the nomin in an external fiat currency means that stability is relative only to that currency. Initially this currency will be the US dollar, and this is the target currency used throughout this paper, but in the future the system will support additional flavours of stablecoin that are denominated in other currencies. 1Following Bitcoin, the Havven system will appear in uppercase and singular; while the havven token will be lowercase and may be plural.
EXCHANGE LIST
Kucoin
Binance
Bit-Z
Bibox
Linkcoin
Qryptos
Bitrue
Bilaxy
SECURE WALLET
https://www.ledgerwallet.com/3b59
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