The first pure mined ERC20 Token for Ethereum, using the soliditySHA3 hashing algorithm. This is a smart contract which follows the original Satoshi Nakamoto whitepaper to form a fundamentally sound trustless currency. This combines the scarcity and fair distribution model of Bitcoin with the speed and extensibility of the Ethereum network. Thus, it is named 0xBitcoin or 0xBTC where 0x represents the Ethereum Network and ecosystem.
Kyber Network Crystals (KNC): An on-chain protocol which allows instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity. KyberNetwork will be the first system that implements several ideal operating properties of an exchange including trustless, decentralized execution, instant trade and high liquidity.
Loopring: zkRollup Protocol for Scalable DEXes and Payments on Ethereum
Loopring is an Ethereum layer 2 solution: an open protocol for building high-performance, non-custodial exchanges and payment applications on Ethereum. Our infrastructure leverages zkSNARKs to scale throughput, lower cost, and build DEXs & payment apps that feel as performant as centralized alternatives - with 100% Ethereum security guarantees.
http://mercuryex.com http://www.coinbuzz.com/2015/03/04/cant-touch-mercury-exchange/ Trades happen entirely on the blockchain, with no risk of the exchange getting hacked or greedy exchange operators running off with your money. Your private keys are only stored on your computer. When making trades, your wallet will use the Mercury Order Book service to find bid or ask offers opened by other traders. This service is centralized, but it is never involved in the actual transfer of funds so it doesn't require any trust.
Release v1.4 of CryptoWoo Bitcoin Cash Addon added cash address support by default with legacy backwards compatibility, and 7 new exchanges supported. CryptoWoo is the trustless, non-custodial, self-hosted payment gateway for Woocommerce that has no tx fees and no access to merchants cryptocurrency
Bitcoin is digital gold and the LightningNetwork uses cryptographically secured and trustless “IOU’s” as a medium of exchange backed by bitcoin, for efficiency. Like when paper money was backed by gold in 1844. But this time no one can suddenly take the gold away.
Edit: Yikes, this blew up a little and I’m being hit from all angles about why I’m wrong. I probably shouldn’t have used the term “IOU” cause it insinuates debt, as well as there being counter party risk. My point is that it’s like having the most trusted and secure IOU in the world, because it’s not backed by promise of the other person, it’s backed by cryptography, so you can claim your money at any time, or you can continue to pass it on to the next person without any risk. So in that sense, it is similar to an IOU, but it’s trustless. I really liked this analogy and I was hoping this would just be an easy way for people to understand but I was wrong. Edit 2: I think a better word would have been “promise”. LN is like exchanging trustless and secure promises of funds, which carry no risk, unlike when paper money was a promise to the equivalent value in gold and the promise was broken. I hope that clears up my thinking a little.
Why the Hype Around the Breeze Wallet? (1) Delivering Privacy (untraceable transactions) to Stratis and Bitcoin Simultaneously. (2) Importing Bitcoin Holders/Users with Trustless Exchange in Wallet for STRAT/BTC, combining ecosystems.
Imagine if we could trustlessly exchange unspent outputs offchain, and somehow we could always verify we had an unspent output valid on the main chain without even needing to wait for a confirmation? ...oh, wait.... /r/Bitcoin
03-21 21:52 - '[quote] Wrong. Borderless, trustless, censorship resitant, immutable exchange/store of value. / [quote] See above + maximum supply & the separation of government and money. Read the bitcoin whitepaper.' by /u/jakesonwu removed from /r/Bitcoin within 0-6min
The utility seems to be "people believe it has value"
Wrong. Borderless, trustless, censorship resitant, immutable exchange/store of value.
Q&A with CEO of trustless Bitcoin-based futures exchange Coinpit
See full Q&A here: http://www.bitcoinfuturesguide.com/bitcoin-blog/qa-with-coinpit-ceo-baraht-rao Coinpit says that users do not have to even use an email or login to trade. How does this system work? How can a trader feel confident they are in a secure environment if they do not have a classic-style account with email address and a personal relationship with the exchange? Coinpit uses Zero-Knowledge authentication using the same crypto in Bitcoin. Your user id is the bitcoin address represented by your private key. Every request is authenticated with the user’s private key instead of setting a session cookie. This is much safer than the traditional email/password and eliminates entire classes of security issues. You may have recently read about the 500 million emails leaked from yahoo. Several of these leaks occur every month. Some are detected a few years later, many are not. Hackers have years to crack the passwords, which they can easily attempt for commonly used passwords and passwords reused and stolen from other sites. Even some forms of 2FA do not protect the user from a server breach since the 2FA seeds can also be stolen and the 2FA token reconstructed. Zero knowledge systems however, do not store the essential ingredient on the servers and therefore are more resilient. We avoid email to eliminate the threat of spam, phishing and brute-force login attacks. Coinpit marketing materials state that you do “AML without KYC” – how does this work? Coinpit is committed to transparency using the blockchain. However, transparency without privacy would be a serious threat to financial security and peace of mind. To enable transparency without compromising privacy, Coinpit uses AML without KYC. Money laundering works in three stages: placement, layering and integration. Ensuring we do not take untraceable cash deposits prevents placement. Ensuring that coins can only be withdrawn to the origin prevents layering. The initial response from bankers to this system has been positive and provides a way to eliminate the poor cost effectiveness ratio of KYC Coinpit currently has a BTC/USD contract which boasts offering 200x, even 500x leverage. Most bitcoin futures exchanges that offer this degree of leverage use “socialised losses” in order to offset unfilled liquidations of users whose margin doesn't cover their position. How does Coinpit offer this high leverage without socialised losses? Socialized losses benefit the ultra-speculative traders at the expense of skilled and disciplined traders. We believe that game theory suggests that on such exchanges the most beneficial play is to make many small bets with the highest available leverage. This will lead to larger and larger socialized losses eventually making sensible trading impossible. Judicious use of high leverage requires that disciplined and skilled traders are rewarded instead of being punished. Coinpit terminates/deleverages a highly-leveraged winning trader when there are no orders at the stop of the losing trader. While this is not desirable, this is a problem that becomes less and less severe with increasing liquidity. Many traders are frustrated by leverage products on Bitfinex and BitMEX which lead to funding charges for traders – is there any interest charged on leverage for trading on Coinpit, or any kind of funding mechanism which users need to be aware of? Moving coins from Multisig to margin and vice-versa costs a small amount of coins to be paid directly to the bitcoin network. This may go away in the future if we can use lightening network or any similar off-chain technology once proven in the market. The exchange does not have any funding charges at present. This makes it ideal for long time holders. Funding fees add up, but more important, being variable they complicate the ability to predictably take winning positions. The longer traders hold, the more the chances of profits being erased by funding costs. High funding rate has the effect of causing the users to trade small for short durations.
Bitcoin is digital gold and the LightningNetwork uses cryptographically secured and trustless IOUs as a medium of exchange backed by bitcoin, for efficiency. Like when paper money was backed by gold in 1844. But this time no one can suddenly take the gold away. /r/Bitcoin
If we're interested in building a decentralized, trustless financial system, why do we use centralized exchanges? At this moment I only recognize decentralized exchanges as a true exchange. Everything else is a bank. /r/Bitcoin
09-06 08:32 - '[quote] That not the appeal I see. The main appeal I see is a trustless digital store of wealth and medium of exchange. Something that didnt exist before bitcoin came along. You can pay your online purchases with visa or paypa...' by /u/Vertigo722 removed from /r/Bitcoin within 0-4min
So from what I gathered Bitcoins whole appeal is its a form of currency that you buy and down the road there will be a finite number of bitcoins. The goal is to use them in your everyday life to buy things and pay bills
That not the appeal I see. The main appeal I see is a trustless digital store of wealth and medium of exchange. Something that didnt exist before bitcoin came along. You can pay your online purchases with visa or paypal, they work fine. But they are not trustless and are IOUs. Bitcoin, exposing you to no counter party risk, is a great hedge against a financial crisis and censorship by governments or corporations. Its like electronic gold, only much easier to store, move, spend, convert (and immune from future asteroid mining ;) ). And so much harder to counterfeit. The value extends beyond that however; an ultra secure, immutable public ledger has a wide range of future applications, which will require tx fees, and thus bitcoins. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Vertigo722
Is it possible to have a Bitcoin exchange run on a trustless blockchain protocol of its own?
Not too sure what I'm asking, so please bear with me. If you're an engineecomputer scientist/cryptographer feel free to help out whatever it is I'm trying to say if you think you know what I'm getting at. One barrier to Bitcoin is obtaining bitcoin. Is there way to create an exchange that is decentralized so it can't be regulated AND can't be abused? Trustlessness for any type of transaction is the key to human progress, imho. For centuries/forever humans have been conditioned to trust their government and religious leaders. Individuals or groups among us do not magically deserve trust over all of us. To put it extraordinarily mildly when considering human history (and current events) the only thing history shows is no trust is deserved for anyone. So I guess my broader question is how do we set up technological trustless protocols in all areas of life?
In a trustless environment, there is no single entity that has authority over the system, and consensus is achieved without participants having to know or trust anything but the system itself. The property of trustlessness in a peer-to-peer (P2P) network was introduced by Bitcoin , as it allowed all transactional data to be verified and ... Blockchain is described as a trustless system without backing by an authority. it deserves to stress that blockchain does not radically ELIMINATE trust, but it does MINIMIZE by distributing the trust to all participant in the system. ... Links: Buy Bitcoin Bitcoin BTC Exchange Bitcoin Exchange OKEx Free Bitcoin. English. Centralized Exchange Risks The whole cryptocurrency space is abuzz with news that another centralized exchange (CEX) is in trouble and is in a real threat of closing down. It is a trader’s worst nightmare as they are not able to withdraw their money from the embattled exchange. Interestingly, the reason behind its probable demise is poor accounting practices and bad business decisions. Centralized Exchange Risks. The whole cryptocurrency space is abuzz with news that another centralized exchange (CEX) is in trouble and is in a real threat of closing down. It is a trader’s worst nightmare as they are not able to withdraw their money from the embattled exchange.Interestingly, the reason behind its probable demise is poor accounting practices and bad business decisions. Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. ... People often say that Bitcoin is trustless, what exactly does it mean? I know you don't need to trust one of following entities when you transact in Bitcoin, but what don't you need to trust? ...
How to claim FREE HEX using Bitcoin! (Trustless) Knightly Crypto - Inevitable Success with HEX. Loading... Unsubscribe from Knightly Crypto - Inevitable Success with HEX? Decentralized exchanges have been a hot topic this year. Totle CEO David Bleznak comes on to explain what a DEX is and how his platform is going to help solve some of the current issues they have. ZeroLender: Trustless Peer-to-Peer Bitcoin Lending Platform Yi Xie (Boise State University), Joshua Holmes (Boise State University) and Gaby G. Dagher (Boise... Anonymize money with trustless mixers. http://sx.dyne.org/anontx/ 1Fufjpf9RM2aQsGedhSpbSCGRHrmLMJ7yY Thaj explores how bitcoin miners can mitigate network threats with trustless collusion and gets pretty deep into the complexity of bitcoin mining.