How to sell xBricks for money (self post for mod approval)
Preface I've written this guide with those that are unfamiliar with crypto in mind, however it's still a lengthy process. I'm going to try to present this in a way where you don't have to learn how the underlying crypto technology works, but I will add in links to relevant concepts in case you're curious. This process was a lot more complicated before but I made a web interface to simplify it. At the time of writing this, FortniteBR BRICKs are worth 10 cents a piece. That makes 1000 bricks worth 100 bucks. The liquidity pool is about $14,000 at the time of writing, meaning that there's room in the market for you to hypothetically get $7,000 if you had a lot of BRICKs. If at any point throughout this process you need help, DM me! Misc. Resources That Might Be Helpful
A phone or phone emulator (so that you can run the reddit mobile app and collect your BRICKs)
Step 1: Setup On your desktop computer, install MetaMask. This is an Ethereum Wallet which will allow you to interact with the Ethereum Network and its many sidechains. More on this later. Follow the setup instructions in MetaMask. If you've never done this before, you'll need to create a new seed phrase. Video tutorial if you get stuck. YOUR SEED PHRASE IS THE KEY TO YOUR WALLET. ANYONE WHO HAS ACCESS TO YOUR SEED PHRASE CAN TAKE YOUR FUNDS. IF YOU LOSE YOUR SEED PHRASE YOU HAVE NO WAY TO RECOVER YOUR FUNDS. WRITE IT DOWN AND STORE IT IN A SAFE PLACE!!! NEVER GIVE IT OUT TO ANYONE -ANYONETHAT ASKS FOR YOUR SEED PHRASE IS TRYING TO SCAM YOU! DON'T FALL FOR IT! In the MetaMask interface, you'll see "Main Ethereum Network". This process uses two networks. One of them is the Rinkeby Testnet (where the BRICK tokens are natively) and one of them is the xDAI network which is where we will bridge the tokens to in order to exchange them for Dai, a token which is pegged to the price of the dollar. From the dropdown, select Rinkeby Testnet. If you're in the assets tab, you should see a thing that shows your ETH balance. Below this, you should see an "add token" button. Click it. Go to "Custom Token" at the top. In "token contract address," paste in the following: 0xe0d8d7b8273de14e628d2f2a4a10f719f898450a The other fields will autofill. Hit next. You'll now see your BRICK balance (which will be 0, you haven't transferred your bricks yet) in MetaMask if you've done everything right. You'll need Rinkeby Ether to cover transaction fees. Since we're on a testnet, the Ether is worthless which means people hand it out for free. You can get this Ether from a variety of places:
Anyone who has Rinkeby Ether to spare: Make a comment below so that those who need it can ask you. Thanks :)
Now it's time to get your BRICKs from your Reddit vault into your MetaMask wallet. WARNING: ALL CRYPTO TRANSACTIONS ARE IRREVERSIBLE. Your Ethereum address shows up under Rinkeby. It should be "0x" followed by a bunch of hex characters. Click on it to copy it to your clipboard. You now need to somehow get this to your mobile device. Email it to yourself, text it to yourself, whatever. On your Reddit mobile app home screen, click on your profile icon and then go to vault. You'll need to set this up and claim your tokens if you haven't already. Be aware that this is also technically an Ethereum wallet. Keep your seed phrase safe. Send however many BRICKs you want to sell to your MetaMask wallet. Check to make sure the addresses are the same, but don't worry too much about making a typo or whatever. The chances that you'd make a typo that would result in a valid Ethereum address are slim, if you get a character wrong it'll just tell you it's not a real Ethereum address and prevent you from sending. It may show an error when you try to send. This is somewhat rare but pretty normal. They often run out of testnet Ether. Come back later and try again. If it works properly, it'll take about a minute to go through. It may take longer than that. Once the transaction goes through, you'll see that you have an absurd amount of BRICKs in MetaMask. No, there wasn't a glitch. The people who wrote the code for BRICKs made the decimals of precision weird for some reason. It's off by a factor of 1018. This isn't a big deal. If you see Bricks and Ether (ETH) in your MetaMask wallet, proceed to the next step. If you're having issues, feel free to DM me. Step 2: Getting Your BRICKs from Rinkeby to xDai There's a LOT going on under the hood for this part (deets for those interested). Previously this required manually generating contract interactions, which is kind of a pain if you're new to Ethereum. I made a UI to make this easier (it generates the transactions for you, all you have to do is sign them with your wallet). This took way longer to do than you might guess, so feel free to help a homie out at: 0x4BCcC2569DD93C7dF43431A7b70db569dedB6187 Go to my tool. Hit connect. If you're on the Rinkeby network, it should show your balance in BRICKs. Enter the amount you want to bridge (probably all of them). If neither of us have made any mistakes, it should pop up with a request to spend your BRICKs. If there's any issue with this tool, DM me. This allows the TokenBridge contract to take your BRICKs and put them on the xDai network where you can sell them. This is the part where you'll get an error if you don't have any testnet ETH. Set the gas price to 1 (the suggested price is based on the Main Ethereum Network - it's way too high). After you approve that, it'll give you another thing to accept. This is the actual transaction where it'll bridge to xDai. Again, make sure the gas price is set to 1 and confirm the transaction. Add xDai to MetaMask Switch to the xDai network. We're going to add another token. Again, go to "add token" > "custom token" > "token contract address". Paste in: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 If the transactions have gone through, you should see your xBricks (the name for BRICKs that have been bridged to xDai) in MetaMask. If not, wait a bit for the transactions to go through. Sometimes there are slowdowns that cause bridging to take a while. Shouldn't take too long, though. Once that's done, you're ready for the next step. Step 3: Trading Your xBricks for xDai Go to Honeyswap. Hit "select a token." You'll need to paste in the xBrick address again. Here it is: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 Click xBrick. You'll need to flipflop the trade around by hitting the arrow button. xBrick should be on top. Type in the amount of xBricks you want to sell, or hit max to sell all of them. 1 xDai = $1. You'll need to hit approve first. Set gas price to 1 again. Then you can complete the trade by hitting swap. After a bit, the xDai should show up in your wallet. Step 4: Mainnet Everything on Mainnet costs actual money to do. It costs about 50 cents to make a transaction and it costs about 3 bucks to use an exchange like the one we just used. If you don't have mainnet Ether, you won't be able to do anything with your mainnet Dai (what xDai is called when it's bridged back to the main Ethereum network). You may be able to find someone to lend you some ETH to make these transactions with. Whatever you do, just be aware. If you still want to bridge your xDai into Dai, go here and make sure xDai is on the left. If it's not, go in the top right and select xDai chain. Enter the amount of xDai you want to bridge to mainnet and then hit transfer. Follow the prompts. This part may take up to an hour due to recent network congestion. After it's done, if you go back to Main Ethereum Network in MetaMask you should see your Dai. If you have a few bucks of ETH, you can use UniSwap to convert your Dai to even more ETH. Uniswap tutorial Things you can do with ETH
*New Story* Do autonomous trucks dream of CW McCall?
I've got some serial stories I'd like to tell about living with (and in) technology and the industry. Do autonomous trucks dream of CW McCall? Falstaff’s story “For a bright shining moment, we added a lot of shareholder value”. Falstaff had a comic with that caption in his double sized cubicle, the kind reserved for senior engineers. For a while he thought it showed that he didn’t fully buy into the corporate line, but that he’d still do as he was told as long as he had a shot at the big payout. RSUs, the big acquisition. The end of year bonus. That was the deal in the before time, when things mostly worked out for most people it seemed. Falstaff knew he wasn’t the smartest, but he didn’t complain, didn’t pick fights and lived pretty well. His bad habits didn’t impact his work life and he still might hit it big enough to quit and try something else. To have options. Then everything happened at once. The fires. The diseases. The chaos. Nobody knew who was in charge for a year or so. Things came back. A few years passed and the wealthy parts of the coastal cities looked shiny again. Most people called it normal. To the casual eye, it was. You could still get sushi delivered to the office late at night, ski in the Rockies if you could take the time off. Things were pretty good if you stayed where you belonged and kept your metrics up. Things fell off as you went East or to the not-so-quaint rural areas that couldn’t swing a music festival or good photo opportunities for social media. Go far enough and you found the places where the Feds just walked away. Not our problem any more. That’s how Falstaff saw the world and his place in it. He had’nt had much sleep. Drugs, risky behavior and the self-loathing kept him occupied, making his morning commute that much less pleasant. He stopped staring at the RVs and tents parked on the land next to the on-ramp as he got on the 101. He jabbed the infotainment system to find some noise to sooth or at least distract him. “Today, the Department of Energy announced that repairs have been completed ahead of schedule for the Diablo Canyon Power Plant. Radiation levels are now below acceptable levels for the first time in three years” Click. “We’ve got an autonomous truck accident with a car by Exit 6 on the 280 Eastbound, so expect delays while CHP and a support team from Freightliner gets that cleaned up” Click. It didn’t work. He still felt adrift and unhappy in the morning commute, so he silenced the radio and drove to the office. The office was uneventful. Park, security checkpoint, a long walk to his building, a coffee on the way to his cubicle. He pulled the privacy screen closed behind him and sat down. A quick scan of his eyes and there was his project- a payment processing application that would cut out another payment application for a small percentage of a massive stream of money. He looked over last night’s chatter, split the tasks into ‘do the work’ and ‘show that I’m adding value’ categories. The fear and sadness caught up with him. He wasn’t ever going to get out. If he ran as fast as he could, he’d stay exactly where he was until his rent outpaced his income. His stock options would vest just fast enough to keep him going, but he’d never get out. The morning dragged. Tweak this, report this to someone else. The bureaucratic minutiae and make-work washed over him until lunch. He looked forward to lunch with Tran, hoping that might get him out of his funk. Tran wasn’t so much a friend as one of the few people who admitted how screwed up everything was, so there wasn’t any danger of speaking the obvious and getting a negative reputation. Tran was out today, so Falstaff ate leftovers and instant noodles in his cubicle. His phone buzzed. There was a message on MomTalk, a chat for wealthy mothers to discuss brunch, day drinking and their children. An engineer friend of Falstaff’s set it up as a joke to lampoon the women she couldn’t stand and her friends played along, adopting over the top personae and complaining about nonexistent spouses and domestic staff. After things came back, it was a way to talk freely, if in code. Heather: Hey. I’m in deep trouble. The Nanny’s unhappy and I need someone to pick up the kids. Falstaff sighed. Tran must need something. Sheila: Missed you for lunch. Not feeling well? Heather: Serious. My kid is stuck under my desk and I need him to come home. UNDERSTAND? NOW! Sheila:kk. He got up, took his brown cardboard biodegradable instant noodle container and walked a few rows over to Tran’s cubicle. Where Falstaff’s cube was disorganized and well worn, Tran’s was sparse with better furniture. Falstaff felt under the desk and noticed a decal with one end loose. A quick pull and the label peeled off into his hand, along with a small flash memory card, the size of a fingernail. He stood up and quickly looked up and down the aisle between the cubicles. Nobody noticed. Nobody really paid much attention to him on a good day unless they needed something from him anyway. Back in his own cubicle, he went back to the chat: Sheila: How urgent is this? Chip can have dinner with us or we can drop him off on the way to fencing class. Heather:NO TIME. FAMILY’S HERE AND THINGS ARE TENSE. Heather:RUN. GET OUT NOW. Heather:REALLY. Falstaff was concerned. Tran didn’t make jokes. Laughing at Falstaff’s attempts at humor was enough. He had figured that Tran’s talk of ‘having gangsters in his family’ was an attempt to seem dangerous despite being a cubicle denizen, the way middle aged men bought loud motorcycles that they never rode. He folded the decal over the card, pressed the sides together and dropped it in the instant noodle cup, then pushed it down with the corn-plastic chopsticks. The background chatter got quiet and multiple employees raised their heads prairie-dog like. Several members of the company security detail were looking through Tran’s cubicle. Geoff, the brush-cut ex-cop security guard for this building was standing in the aisle attempting to look like he mattered to the operation as the more polished and definitely better paid detail carefully boxed the contents of Tran’s cubicle. Falstaff picked up his phone and noodle container and started walking towards an exit away from the commotion. Geoff noticed and walked briskly after him. As Falstaff walked out of the building, Geoff called out his real name, then jogged behind him, puffing his half a size too small corporate logo’d golf shirt. Ironed golf shirt. Falstaff heard Geoff behind him, but decided to ignore him. Geoff was a blue-badged contractor, safely ignored. Normally. Geoff ran in front of him and blocked his path to the parking garage. “You wouldn’t happen to know where Tran is, would you? I’ve seen you with him ” Falstaff tapped on his white badge. “You’re not my real dad. You can’t tell me what to do” Falstaff squeezed past him into the parking garage’s doorway. Geoff glared at him while Falstaff got in his car and put the noodle carton in the fancy retracting cupholder. He started his car and drove off as calmly as he could manage. Despite his attempt at seeming indifferent, his mind was racing. He attempted to make good time without getting attention. Luckily, silver Porsches were a cliché and therefore almost invisible in the Valley. Twenty minutes later, he was in his mid-grade two bedroom apartment overlooking the parking lot. His cat, Hank, greeted him with a raised head and half open eyes. Falstaff gave the cat some perfunctory petting, while trying to sequence the next few tasks. He went to the refrigerator in the kitchen, carrying the ramen cup in one hand. He selected a can of energy drink and thought for a second. His smartwatch and phone went in the freezer. Fishing the wrapped memory card out of the cup, he picked up the can and walked to his couch, where a bestickered high end laptop rested. Debating between speed and security, he turned off networking on his laptop, then inserted the card into the laptop gingerly, mounting it read-only in case Tran left something aggressive on the card. Huh. A couple really large encrypted files. And seven smaller files with long filenames of seemingly random numbers and letters. He ejected the card and gingerly placed it on the arm of the couch. The file names were bitcoin addressses. A lookup showed a total value of almost $600 million in value there. The files themselves were encrypted. Falstaff stared at the wall for a minute or two, then realized that Tran had decided to quit and take an unauthorized retirement bonus from their shared employer. Enough money to kill for. Who knew about this, and more importantly, who knew Falstaff had the key? Tran did. Perhaps his gangster friends knew. He pulled his phone out of the freezer. A few project related emails and three MomTalk direct messages. Heather:??? Heather:Where y’at? Heather:I have investors. They’re quite insistent. They’re on their way to you. It was time to go. Now. Falstaff put the laptop down and ran to his bedroom. He pawed through a closet and pulled out the giant duffel he used to carry two week’s laundry from his grad student apartment to the cheaper off-campus laundromat. He quickly shoved a variety of clothes, some scuffed hiking boots and some corporate branded technical outdoors gear into it. Behind a shelf, he found a long, antiquated Russian bolt-action rifle and a few paper-wrapped boxes of bullets. It wasn’t the firearm someone on the run would want, but it’s what he had. It went into the duffle bag, which he dragged into the living room. Hank jumped down and inspected the bag. “Hank, I’ll hook you up in a second” A quick scour of the kitchen and Falstaff had two thick trashbags and a box of water jugs with his current employer’s old logo on them, which he emptied into the sink and turned on the faucet. As the sink filled, he filled the trashbags with whatever looked useful- tools, hobby electronics, his laptop and cat food. He pulled out a fat stack of cash from the bottom of his drug stash box. He contemplated forced sobriety, then carefully closed the box and put it in the bag, along with the cash. Don’t change everything at once, he thought. Now isn’t the time to risk sobriety. Falstaff rummaged around in the hall closet and dug out a bright pink cat carrier and stuffed Hank into it, then turned to the overflowing sink in his kitchen. He opened and filled the bottles in what he hoped was an efficient use of time, then pushed them back into the box. His phone buzzed again. He contemplated throwing it back in the freezer, then thought better of it, shoving it and the watch back in his pocket. Hank started meowing. “We’re not going to the vet today, dude. Shut it for now” Falstaff looked out his window. Typical traffic. Typical parking lot. A few charging stations, a fence and tents on the other side. He opened the window and threw the bags into the bushes below. He picked up Hank’s carrier, his laptop and looked at the box of water bottles. Wait. Stop. Think. Breathe. Tran’s card. A minute of searching found where he left it on the couch. He stuck that in his pocket, then ran out of his apartment. He considered the elevator, then decided on the stairs as they were closer to the bags and his car. A few minutes of pushing and shoving had the trash bags in the front trunk , the oversized duffle in the passenger seat and Hank’s carrier seat belted in the tiny back seat. He spun the tires and entered the flow of traffic, such as it was. He looked at his phone. More people seemed to want a response. Ignoring them, he found the closest florist’s shop and fifteen minutes later, pulled into the strip mall that contained it. A few minutes later, he was in possession of three “Birthday Balloon Extravaganzas”, finishing off the shop’s tank of helium and a bit of Falstaff’s cash. He tied the strings around his smartwatch and let it rise and drift past the confines of the parking lot. The hastily constructed wad of tape and ribbon connecting his phone to the other two Extravaganzas generated a more labored flight, but eventually it drifted away. He looked into the shop’s camera and flipped it the bird as he left and jumped back in his car. Soon he was back on the road, relaxing with his elbow out the window. Despite the stop and go traffic, he felt safe enough to relax and make longer range plans. Even Hank had settled down for the moment. The hot air felt less oppressive somehow. He contemplated the right set of music for an escape from civilization, trying on a few genres to decide. The screen also showed that the freeway was less than a quarter mile on the right and traffic would be light. Good. Then he looked again at the screen and thought about antennas. His radio talked to the cell tower, which talked to the Internet. Every application knew where he was. Which meant Tran’s investors or their ex-employer could know as well. One hand on the wheel, he looked around for something to pull the radio out of the dashboard. Hank meowed. “You have an idea? No? Please be quiet” Rummaging around in the glove box, he noticed an old folding knife. Falstaff slowly pried the radio from the dashboard while occasionally looking up at the tailgate of a modern SUV ahead of him. Realizing there was a rear-facing camera on the SUV staring at him, he slid down below the dash as best he could. A few more stop and go cycles and the radio was free of the dash. He unplugged cables by feel, but one took his attention away from the road while he pried at it with his knife He was distracted by a horn blast by his ear. Another SUV was forcing itself into his lane while the driver gesticulated at him. Falstaff reciprocated by waving angrily at him, knife still in hand. The driver of the SUV held the horn down, angering Falstaff enough to open the window and throw the now free radio at the noise. Feeling the embarrassment, he jerked the wheel to the right and accelerated into the bicycle lane with a chirp of tires and howl from the engine behind him. A minute later, he was on the highway, quickly leaving Silicon Valley. He hoped to make the Nevada line before anyone figured out what he was doing.
Updated list of Global Beermoney opportunities (+180!) - June 2020
Updated list of Global Beermoney opportunities (+180!) - June 2020
The current, and now previous, Beermoney Global list started nearly 5 years ago. It’s been updated and has grown over all that time, but it also became a hassle to keep current. It was time to build a new list from scratch based on my experience in the Beermoney world over all these years and all the contributions all of you have been making in this sub. The lists consist of opportunities that are available in at least one country that is not the US. This means there are sites which only work in Canada or the UK. There’s sites which are open to the whole world, but this does not mean everyone can really earn something on it. It’s all still very demographic and therefore location dependent. This list should give you a starting point to try out and find what works for you. I’m not using everything myself as I prefer to focus on a few, so not all are tested by me. They are found in this sub, other subreddits and other resources where people claim to have success. I’ve chosen the format of a simple table with the bare minimum of information to keep things clean. It includes a link, how you earn, personal payment proof if available and sign-up bonus codes if applicable. Some of these bonuses are also one-time use codes specifically made for this sub! For the ones I don’t have payment proof (yet) feel free to provide some as a comment or via modmail so others know it’s legit. I am working on detailed instructions for each method that I personally use which will include things like cashout minimum, cashout options, tips & tricks,... For now I’ve split things up based on the type of earning like passive or mobile. Because of this there’s sometimes an overlap as some are both passive and on mobile or both earning crypto and a GPT (Get Paid To) website. The lists are obviously not complete so I invite you to keep posting new ones in the sub, as a comment to this post, or in modmail. Especially if you have sites or apps which work for one single specific country I can start building a list, just like I did for The Netherlands and Belgium. If you recognize things which are in fact scams or not worth it let me know as well.
Get Paid To (Surveys, tasks, offers, videos, clicking links, play games, searching)
For The Netherlands there are a few very good options next to a bunch of ‘spaarprogramma’s. There ‘spaarprogramma’s are all the same where you receive and click a bunch of e-mails, advertisements, banners,... I advise you to create a separate e-mail address or use a good filter in your inbox as you will be spammed to death. I believe they can be a nice piece of beermoney but they take quite the effort.
Moon Cash is a bitcoin cash faucet with a difference…YOU decide how often to claim! Whereas most faucets only allow you to claim once per hour or once per day, we all you to claim as often or as little as you like. The faucet will gradually fill up – quite quickly initially but it will slow down over time – until you make a claim. So, the longer you leave it the more you will be able to claim. You may prefer to claim a smaller amount every 5 minutes or visit once per day and claim the large amount that has built up while you were away! (*minimum 5 minutes between claims per account/IP address) Claim You will need a Coinpot wallet to claim crypto from the faucets below. Register for a Coinpot account here. Use the email you registered with Coinpot to login and claim from each faucet. Claim free bitcoin! No strings attached. https://crypto-life-faucet.yolasite.com/
hey guys ive been seeing a lot of posts on how to make money online I have designed a program that auto claims from every faucet on internet.. trying to hit bitcoin is not a joke but the are faucets that pay $0.004 every 5 minuits (one crypto) there are 6 cryptos in each faucet website so $0.024 per website every 5 minuits and there are over 300 crypto faucets on internet. My program is designed to claim cryptos every 5 mins automatically from all the facets (more like a faucet bot) and you make $7 ever 5 minuits so if your claiming every 5 minuits its 19 hours a day so you make $136 bucks a day.. and if you wanna team up and work with me you can hit me on [email protected] I really need a partner to work with...
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
Technology and some more:
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
Down the rabbit hole
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here. Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017. Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand. Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”.Scilla design story part 1
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
“Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
Smart contract on a sharded environment and state sharding
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
Business & Partnerships
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
Marketing & Community
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
LBRY For most users, LBRY will be a place where they can find great videos, music, ebooks, and more: imagine a vast digital library that is available on all of your devices. But under the hood, LBRY is many components working together. First and foremost, LBRY is a new protocol that allows anyone to build apps that interact with digital content on the LBRY network. Apps built using the protocol allow creators to upload their work to the LBRY network of hosts (like BitTorrent), to set a price per stream or download (like iTunes) or give it away for free (like YouTube without ads). The work you publish could be videos, audio files, documents, or any other type of file. Traditional video (or other content) sites such as YouTube, Instagram, and Spotify store your uploads on their servers and allow viewers to download them. They also allow creators to make some money through advertising or other mechanisms. However, there are some well-known drawbacks, especially for people whose material is perceived as not being advertiser-friendly. LBRY aims to be an alternative to these sites, allowing publishers and their fans to interact directly without the risk of demonetization or other meddling. What makes this all possible is the blockchain technology developed by the creator of Bitcoin. Do you have to understand any of this to use and enjoy LBRY ? No. Does it still matter to users? Yes! Earn rewards based on followers, how many you are following, daily watch reward, invite reward and more that show up that arnt part of the dailys. I current have been using LBRY to watch The StarLost, a cliche 1973 Canadian space film. There are many other shows, influences and Crytpo related shows on LBRY
The Nano Faucet Distribution: Visualized and Analyzed
It's no secret that Nano had a unique distribution. Unlike Bitcoin, Nano (then Raiblocks) had 100% of its supply minted in the Genesis block, which was then subsequently distributed via a Captcha faucet. However, the nature of this distribution has largely been unknown to the general public due to well... no one looking into it, I suppose. That is, until now. Thanks to community member Renesq, the initial faucet distribution can finally be audited for the first time without the development of internal tools. So I took the data, and analyzed it. Before I share the data, there is one important thing to note. This analysis is of standalone addresses only, not entities. It is very difficult to prove how many separate Nano addresses make up a single entity. It can be done, but this requires a much more complex chain analysis which is out of the scope of this investigation, such as linking different accounts together by following the chain to specific exchange deposit addresses. However, I think this is a good starting point to give us an idea of what the faucet distribution looked like, even if it isn't perfect. This is the distribution graph. The distribution graph can be read as follows: Say you look at the point (10,000, 0.65), That means the top 10,000 accounts farmed 65% of the max supply. Conversely, the point (80,000, 0.97) means the top 80,000 accounts farmed 97% of the max supply. Another thing to note, is that I removed exchanges like Binance from the current normalized distribution. This is because we don't know who within the hot/cold wallets owns the Nano. However, I should stress that the exchange excluded and exchange included normalizations are nearly identical, so it doesn't really matter in this case. From this graph, I think it's safe to say that the faucet distribution was not rigged as people worry about. Or at least, it can point people in the right direction for a more in depth analysis. As you can see, the distribution has become more centralized over time due to accumulation. Now for some more statistics:
The median faucet user got 192.76 Nano from the faucet, which was worth $7,132 at the peak.
There were a total of 130,814 faucet receive addresses, and probably just about that many faucet users (real people) that used the faucet.
The biggest faucet recipient received 1,724,105 Nano, likely from abusing the Captchas at the very beginning. These types of accounts appear to be very rare and they seem to have sold much of their Nano long before the initial runup in 2017.
WHAT IS COINTIPLY Cointiply is a fairly new site as it has only existed since February 2018. So compared to many other Get-Paid-To (GPT) sites this is still a very young site. It is, first of all, known as a Bitcoin faucet (more about what this is later), but you can actually earn in quite a lot of different ways on the site. Let me reveal that when I first came to the site I was a bit confused. It has many options and therefore it can be a bit difficult to find your way around in the beginning and figure out exactly what opportunities it has. HOW DOES IT WORK To save you the time of having to spend too much time to figure out what it offers, let’s here go over the earning methods, so you can easily see if it will be for you or not.
Small online jobs
Download a game or app
Watch a video for a few minutes
Bitcoin faucet - Cointiply is probably the most known for its Bitcoin faucet, which means you can earn rewards in the form of a satoshi, which is a hundredth of a millionth BTC, by completing a small task. On Cointiply it is to fill out a captcha and then roll and get a number. The number decides the size of your reward. This is free to participate in and you can roll once per hour. It only takes a few seconds, and if you are lucky you can win up to 100,000 points in one roll
Multiply your coins - You can find a section called “Multiplier”. This is a way to bet your coins and get the chance to win a bigger amount. But you of course also risk losing the ones you bet. You simply choose the amount you want to bet, and then you can choose a field on the screen, and see if you are lucky.
HOW DOES COINTIPLY PAYOUT When you are active on Cointiply, you earn coins. You can see in your account how many coins you have, how much they are worth in dollars, and how much they are currently worth in Bitcoin. 100 Cointiply coins are worth $0.01. This means 10,000 coins are worth $1. At first, this can make it a bit confusing to figure out exactly what you, for example, earn to take a survey or offer. But once you get used to it, it is quick to figure out how much an activity is worth in dollars. You can get these coins paid out in a few different ways:
Withdraw to your FaucetHub account when you have at least 35,000 coins ($3.50)
Withdraw directly to your DOGE wallet when you have at least 50,000 coins ($5)
Withdraw directly to your Bitcoin wallet when you have at least 100,000 coins ($10)
How to make money with cryptocurrencies: xFaucet Multicoin
A new multifaucet site is appearing in the crypto universe. We will explain how to make money with cryptocurrencies thanks to xFaucet! The site that we are going to describe in this article consists of 7 Faucets connected to the following cryptocurrencies: Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, Dash and Digibyte. Each wallet address must be registered on FaucetPay to which the prizes of the related claims will be sent in real time. Below we will explain how to make money with cryptocurrencies on xFaucet. The xFaucet and Home buttons / links at the top left of the main page take you directly to the home page. Refer will only work after running the first claim (your referral link will appear) while Links recommends some trending sites. Under your referral url there is the "Our Banners" button which will display a good list of very useful banners to insert on your site. The Claim to be executed is divided into 2 parts: an hCaptcha and an antibot links. Once completed, you will need to wait 5 minutes before proceeding to the next. At the bottom of the page, your Referral URL will finally be visible, which will make you earn 20% on each Claim executed by your subscribers. As previously anticipated, returning to the Home you can choose to make claims among six other cryptocurrencies. Do not forget to always use a wallet previously registered on the FaucetPay online MicroWallet. On FaucetPay you can enter and register more than one wallet for each cryptocurrency. We take this opportunity to advise you to visit and subscribe to our Facebook page and our Telegram channel in order to stay up to date on news, airdrops and new faucets. See you at the next article dedicated to faucets! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
One of the latest innovations in the cryptocurrency faucet sector. A site with a classic structure to earn money with Bitcoins. In this article we will talk again about a direct faucet that will make you earn money with Bitcoins by means of a proven structure, very similar to that of the faucet described in a previous article. QuashBits is shown with a main screen always made up of 2 menus, one at the top and one on the side, all well organized. To register, use a personal Bitcoin address also registered on FaucetPay. Earning money with Bitcoins Let's now proceed with the list of components of the central menu. EARN BITS, earn Bitcoin: - Faucet, which takes you back to the dashboard, is the classic claim that can be made every 60 minutes. The cryptocurrencies earned are called Bits and the award released will depend on the Lucky Number obtained. Occasionally some pop-up pages may open. - Shortlinks, divided in turn into 2 submenus. Visit Shortlinks, whose links lead to advertising pages in which one or more Captchas must be resolved, which is why they notoriously pay more than the classic Claim. Pop-up pages may open. Shortlinks Contest instead shows the weekly ranking of users who have solved the highest number of Shortlinks. - PTC Ads, this section is now inevitable on faucet sites and allows you to earn crypto by viewing advertising pages. It is not mandatory to keep the mouse on the page as it will be sufficient to let the required time pass. The main tool for earning money with Bitcoins. - Jobs, an interesting section where you are rewarded very well by performing "social" tasks. Definitely recommended for its originality. - Referrals, where you will be shown your referrals URL. You will get, with the basic subscription, from your subscribers a 10% on all claims. The percentages will increase by subscribing to a higher Membership subscription. - Achievements displays the list of rewards that are received after reaching a certain number of Claims and Shortlinks, dedicated to large users of faucets. - CPU Mining, where you will be paid 1 Bit every 60000 Hash. Recommended only for those with powerful enough PCs. - Investment Game, practically a bet on the Bitcoin trend in the next 5 minutes after your bet. You will be free to invest the desired amount. - Redeem coupon, if you have a code to use as a coupon. You will be given a small amount of crypto as a gift. Not just EARNS: MEMBERSHIP, various paid membership levels that will increase your earnings percentages. LOTTERY, the BitsFree lottery. The cost of the ticket is 100 Bits / Satoshi. CONTESTS, which each month will reward users with the highest number of subscribers and the largest amount of Shortlinks and Offers completed. OFFERS, which includes surveys, bonuses for viewing videos and the most varied tasks. Several Dogecoins will be obtained but not always proportionate to the time spent since the surveys have a very low percentage of reliability. BLOG, the section with the latest news on BitsFree. MORE, in turn divided into several parts: - Account settings, in which to enter the Bitcoin or FaucetPay address to which to transfer the balance and change the registration email and password. - Withdrawals History and Deposits History, shows the last 25 transfers to your external wallets and all the deposits made on the site. The side menu The menu on the left contains many links to the sections previously described. From top to bottom you can change your account details, exit the site (Logout) or make the transfer (Withdraw). Just below the Bitcoin countervalue of the Bits you have available on the site is shown. Following is the Advertise section which offers the opportunity to earn crypto through links and banners directly on your site. This is a paid service and using the Deposit button you can send the funds you want to dedicate to it. Even further below, your referral URL. In the lower part of the dashboard, the left part is dedicated to all the information on crypto (Bits) earned while the right part allows, thanks to the Share button, to share your referral URL on major social networks. We remind you that the transfer of earned Bits (Withdraw) can be converted into Bitcoin on your personal wallet or on FaucetPay. The minimum threshold in the first case is 50,000 Satoshi while for the second it is 4000 Satoshi. See you soon for a new article on how to earn Bitcoins! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
hey guys ive been seeing a lot of posts on how to make money online I have designed a program that auto claims from every faucet on internet.. trying to hit bitcoin is not a joke but the are faucets that pay $0.004 every 5 minuits (one crypto) there are 6 cryptos in each faucet website so $0.024 per website every 5 minuits and there are over 300 crypto faucets on internet. My program is designed to claim cryptos every 5 mins automatically from all the facets (more like a faucet bot) and you make $7 ever 5 minuits so if your claiming every 5 minuits its 19 hours a day so you make $136 bucks a day.. and if you wanna team up and work with me you can hit me on [rageagainst_[email protected]](mailto:[email protected]) I really need a partner to work with...
Earning Bitcoin with cryptocurrency faucets: Yannik Biz
The Yannik faucet is one of the most enduring and complete in the whole panorama. Absolutely among the best to earn Bitcoin with cryptocurrency faucets. https://preview.redd.it/lvbwclca3sn51.png?width=1024&format=png&auto=webp&s=5c7e9b1c5a68b9eccca253776de44c25095f339d Yannik has a very simple structure. A menu at the top right, a side menu and a home with general information that is also repeated on other pages. All explained in detail to be able to earn Bitcoins with cryptocurrency faucets. But also Iota! Let's proceed with the registration. Earn Bitcoin with cryptocurrency faucets Once in the Home, on the left we see the nick and the Bitcoin balance earned. The first menu At the top right we have the first menu divided as follows: - Earn, divided in turn into Free Bitcoin, Invest and Faucet List. In Free Bitcoin we have 2 classic games of chance, the Bounty (you will be rewarded by advertising the site on social media, forums and blogs) and the Bank with which you will get an annual interest of 4% on all the sums deposited to the indoor. Invest recommends 2 high risk sites in which to invest cryptocurrencies while Faucet List reports a list of recommended faucet sites - News, with updates on site changes - Services, where you can see the projects built by Yannik - Contact, the methods of contact with the administration - The balance in Bitcoin, in which to make the transfer to the Bitcoin or Iota wallet. The minimum thresholds are unfortunately quite high. It also shows the history of payments received. The second menu On the right we have another menu consisting of the following items: - Home - PTC, earn cryptocurrencies by viewing advertising pages - Offers, the classic surveys and tasks to be performed for which you are rewarded with credits - Games, seen in the previous menu - Faucet, where you can make the Bitcoin and Iota claims. You will also be able to view your Referral URL. The bonus received by its members is 15%. - Account, with all the data relating to your profile: login, registration date, Bitcoin and Iota balance, number of claims made, number of refferrals, amount earned through the Bank and transfers made. Just below you can enter Promo Codes that will be sent to you from time to time. - F.A.Q., basic questions and answers. Finally, the Home reports in succession a quick preview of what we have just described: how to earn, prize games, projects created by the creators of Yannik, tasks to be performed to earn or advertise the site, contact form: many ways to earn cryptocurrencies with Bitcoin faucets. If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
With the exit of FaucetHub, Faucet aggregation sites on the square have become 2. In this article we will teach you how to earn Bitcoins with Express Crypto. In this article we will describe in the most detailed way possible another aggregator, a competitor of FaucetPay, moreover very similar as an interface to FaucetHub. Registration will require a nickname, email address, Bitcoin address, password and the resolution of a Captcha. To earn Bitcoin with Express Crypto follow the secure link below: Earn Bitcoins with Express Crypto After logging in, you will see a dashboard full of information but well set up. We have 2 main menus: one on the left in the form of icons and one hidden under the nickname at the top right. Above we see our current level, the experience needed to go up to the next one and the points we are given in relation to the tasks performed. The center of the page shows the total of our Bitcoin currency wallet and the balance for each cryptocurrency supported by the site (currently 20, including Ex-Silver and Ex-Gold). Clicking Balance will open the transfer page. For each cryptocurrency, the minimum transferable, the commissions to be paid, the waiting time for crediting and the history of all transfers performed are reported. At the top right, 3 icons relating to the messaging system. The Tag lists all messages that include your nick; the envelope lists private messages with other users, the bell reports site updates regarding news, contests and much more. Just below, the number of staff members currently online and the chat always available and open to all. The “nickname” menu Your nickname deserves a separate mention, which on balance is a real menu divided as follows:
Profile, the section with all your data that you entered when registering.
Settings, here you can change your email address, add your phone number and activate 2-factor authentication.
Help, includes the link to the Faq pages, the link to contact the staff or other users and the form to open a complaint.
Referrals, your referrals url to share with friends and contacts that will make you earn 10% on all the Offerwalls they complete. There are also some very useful banners.
Site owner, dedicated to faucet owners who wish to integrate the Express Crypto API within their site through which it is possible to pay their users.
Logout, to log out of the site
The side menu
Dashboard, the home page of the site described at the beginning of the article.
Wallet Adresses, divided into Deposit — in which you have to generate an address for each cryptocurrency to which you want to send funds — and Withdraw, in which to enter your personal address for each cryptocurrency you want to trade.
Exchange, the internal exchange of the site where you can convert the cryptocurrencies you have earned between them.
Offerwalls, the classic quizzes, surveys and various tasks that will make you earn crypto that will accumulate in your wallets.
List of Sites, a very long list of faucet sites linked to Express Crypto. By clicking on the icon under “visit” you will be sent directly to the relevant site.
Daily ranking, the ranking of the major users of the site who will be rewarded at the end of the contest.
Games, some games of chance in which to bet the crypto you have accumulated.
FAQ, the page that will dissolve all your remaining doubts!
Guadagnare Bitcoin con Express Crypto: il faucet! Infine, Express Crypto offre anche un Faucet Automatico, denominato Express Faucet. Dopo aver risolto uno shortlink, partira’ un conto alla rovescia di 30 minuti che potra’ essere prolungato ulteriormente ad ogni shortlink completato. Selezionando le criptovalute sotto consumerai 60 secondi per ognuna, riducendo il tempo del contatore. Di seguito, il link a cui iscriversi: Guadagnare Bitcoin con Express Crypto A presto per il prossimo articolo! Se questo articolo ti è piaciuto e volessi contribuire con una donazione: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
Faucets are amongst the most popular Bitcoin-related website out there, with the average site getting tens of thousands of visits every day. The same goes for many altcoins, which also have their own faucets (for example, we run ones for Litecoin, Dogecoin, and Peercoin as well as BTC).But why would anybody want to run a website whose sole purpose in life is to give away free money? I try to deposit a week’s supply of Bitcoin into my faucet and check the balance every Sunday. It doesn’t add up to much (around 0.1BTC) and if I somehow lose this amount, I can cope with it. Blocking malicious users and IP addresses. The Bitcoin Faucet WordPress plugin has many features to help you protect yourself from bots and scammers: There are a ton of ways to make Bitcoins today, and there are a lot of factors that can determine how much you can really make. A lot of new people to Bitcoin can and do start by getting free Bitcoins daily (although tiny amounts) from Faucets.Others do doing jobs for Bitcoins where all types of talents are sought out for. Note: Minimum withdrawal amount is 5000 Satoshi. I’ts processed automatically after you rich threshold. we pay in Faucetpay account. ** You can see full statistic (faucet claim history,pending balance,paid balance and others..) in Account Tab. For more information visit FAQ page. A bitcoin faucet is a website that presents small numbers of bitcoin in exchange for some task or action on the web.Usually the owners of these sites earn money by adding advertising to these sites with banners and pop-ups. It is said that this industry represents more than 50% of the traffic on the main Bitcoin websites currently.
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