BTCWhat is OKX? Team Background and History (OKX's most authoritative mystery solving)
1. OKX was founded in 2017 as a cryptocurrency trading services company. The company has since amassed over 20 million users and expanded its digital asset investment portfolio, which includes OKX Earn, a tool for earning passive cryptocurrency income, an NFT trading platform and decentralised app discovery centre, and the recently launched MetaX, OKX's new decentralised model that offers a cross-chain dashboard and self-hosted Web 3.0 wallet for storing (digital assets such as NFT). Wit...
BTCWhat is pledging
You can think of an equity pledge as a less resource intensive alternative to mining. This option involves placing holdings into cryptocurrency wallets to provide security and operational support for the blockchain network. Simply put, equity pledging is the act of locking up cryptocurrencies for rewards. (1) What is a Pledge of Interest A pledge of interest is a process by which holders of a particular token can receive a reward. Pledges of interest originate from a proof-of-interest mechani...
BTCHow to play the perpetual contract (the most authoritative) translation
A perpetual contract is an "innovative" futures contract, pioneered by BitMEX. Traditional contracts have an expiration date, while perpetual contracts do not have a delivery date and can be held forever, so they are called perpetual contracts. (1) What is a perpetual contract? A perpetual contract is an innovative financial derivative that is based on a delivery contract, but has many differences from the previous one. A perpetual contract is similar to a secured asset market in that its pri...
BTCWhat is OKX? Team Background and History (OKX's most authoritative mystery solving)
1. OKX was founded in 2017 as a cryptocurrency trading services company. The company has since amassed over 20 million users and expanded its digital asset investment portfolio, which includes OKX Earn, a tool for earning passive cryptocurrency income, an NFT trading platform and decentralised app discovery centre, and the recently launched MetaX, OKX's new decentralised model that offers a cross-chain dashboard and self-hosted Web 3.0 wallet for storing (digital assets such as NFT). Wit...
BTCWhat is pledging
You can think of an equity pledge as a less resource intensive alternative to mining. This option involves placing holdings into cryptocurrency wallets to provide security and operational support for the blockchain network. Simply put, equity pledging is the act of locking up cryptocurrencies for rewards. (1) What is a Pledge of Interest A pledge of interest is a process by which holders of a particular token can receive a reward. Pledges of interest originate from a proof-of-interest mechani...
BTCHow to play the perpetual contract (the most authoritative) translation
A perpetual contract is an "innovative" futures contract, pioneered by BitMEX. Traditional contracts have an expiration date, while perpetual contracts do not have a delivery date and can be held forever, so they are called perpetual contracts. (1) What is a perpetual contract? A perpetual contract is an innovative financial derivative that is based on a delivery contract, but has many differences from the previous one. A perpetual contract is similar to a secured asset market in that its pri...
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Lightning Network technology is known as the "second layer of the network" blockchain or "overlay" on the Bitcoin chain. It allows for faster transactions between participating nodes and, hypothetically, will end once and for all the problems associated with the scalability (and limited speed of processing payments) and high fees of this cryptocurrency. (1) What the Lightning Network is The Bitcoin Lightning Network is a parallel alternative to the original network, which used payment channels to process transactions quickly without waiting for blocks to load. The original idea came from Joseph Poon and Thaddeus Dryje in 2015 and is currently being developed at Blockstream, Lightning Labs, ACINQ and other offices in the Bitcoin community itself. It's no secret that Bitcoin's median processing of 24 transactions per second (TPS) is low. This value is definitely far from the most widely used payment processors in the world such as VISA (000'193 TPS), PayPal (1500 TPS), other cryptocurrencies such as XRP (20 TPS) or Ether (ETH) (XNUMX TPS). The Bitcoin Lightning Network has no upper limit in terms of TPS, it can handle over 250 TPS on a single channel in the network and can work on an unlimited number of channels at the same time. (2) How the Lightning Network works A lightning channel is really just a set of pre-signed transactions. What I haven't covered is the incentive model that allows it to work. Once a deal is signed, you will never be able to take it back. It will always exist and will always be a valid bitcoin transaction, unless you use that bitcoin for a different transaction (you can't spend bitcoins twice; once a transaction has spent some bitcoins, any other attempt to act on those tokens will be invalid). Now, because the lightning channel is a 2-to-2 multi-signature, neither party can sign a new transaction without the cooperation of the other party. This means that you can't invalidate all other pre-signed transactions you make on the chain without the cooperation of the other party. It's as if you both opened the channel together, so you must update it together. If either party can act unilaterally, then one of you can steal all the funds. Each time both parties exchange funds in their lightning channel, Bob sends 1000 bitcoins to Alice and they generate a new pre-signed transaction that reflects their updated balance. If all parties behave amicably, they will only keep the latest pre-signed transaction, as the previous one will no longer reflect the correct balance. If both parties want to cash out, they can use the latest pre-signed transaction to pay the current balance to both parties in the form of on-chain bitcoins. But what if the other party is not friendly? What if Bob spent his portion of the funds by sending them to Alice, but now wants to cash them out using the previous pre-signed transaction, which still shows all the funds from his channel? We use 'penalty keys' to solve this problem. This allows you to effectively invalidate all previous pre-signed transactions without actually having to actually invalidate them on the chain each time. Once both parties have replaced the old pre-signed transaction with a new one that updates the balance, they also exchange penalty keys. The system is designed in such a way that if one of the parties tries to execute the old transaction, the other party's penalty key is enabled and can be used to claim 100% of the funds in the channel. Crucially, pre-signed transactions have a built-in time lock, so there is always the opportunity for the other party to use the penalty key before the transaction can be confirmed in a Bitcoin block. In effect, you're not invalidating existing pre-signed transactions, you're just encouraging the other party not to use them. If they try to steal and you catch them, you can take all their money. (3) Advantages of the Lightning Network -Unlike traditional payment cards, it does not allow banks and other institutions to interfere with payments. -No transactions of any kind can be carried out without the holder's consent. -thanks to specially designed protocols, it significantly increases privacy, even to the extent that so-called brokers do not know who the senders and receivers of payments are. -it is a virtually costless transaction in the Bitcoin network. (4) Lightning network anti-cheating mechanisms ①Bi-Directional Payment Channel ) The Bi-Directional Payment Channel can be simply understood as a contractual model for recording transfers in duplicate. I sign my copy of each transfer to the other party, and the other party signs his copy to me. We can each take the contract in our own hands, sign our names, and take it to the bank (bitcoin blockchain) to register it. Of course, as mentioned above, we don't have to register every single one of them, we can just register the latest one after we've done a million transactions. ②TimeLock+Secret Value Time locks and passwords are both clauses in the transfer contract. A time lock is the time when a clause in a contract takes effect. A password is used to give immediate effect to a clause. Each transaction generates a separate password. (5) How do I use the Bitcoin Lightning Network? The following is a list of Bitcoin wallets that support the Bitcoin Lightning Network. -Lightning Peach (Android, iOS, Windows, Mac, Linux) -Spark (Android, Windows, Mac, Linux) -Me (Web) -Bluewallet (Android, iOS) -Satoshi Nakamoto Wallet (Android, iOS) -Zap (iOS, Windows, Mac, Linux) -Bitcoin Lightning Network (Android) -Éclair (Android) -Shango (Android, iOS) -Casa Node (hardware) -Joule (browser connected to Chrome (including Brave), Firefox, Opera)
The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC". https://accounts.binance.com/en/register?ref=Q022W7SC
(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.
Lightning Network technology is known as the "second layer of the network" blockchain or "overlay" on the Bitcoin chain. It allows for faster transactions between participating nodes and, hypothetically, will end once and for all the problems associated with the scalability (and limited speed of processing payments) and high fees of this cryptocurrency. (1) What the Lightning Network is The Bitcoin Lightning Network is a parallel alternative to the original network, which used payment channels to process transactions quickly without waiting for blocks to load. The original idea came from Joseph Poon and Thaddeus Dryje in 2015 and is currently being developed at Blockstream, Lightning Labs, ACINQ and other offices in the Bitcoin community itself. It's no secret that Bitcoin's median processing of 24 transactions per second (TPS) is low. This value is definitely far from the most widely used payment processors in the world such as VISA (000'193 TPS), PayPal (1500 TPS), other cryptocurrencies such as XRP (20 TPS) or Ether (ETH) (XNUMX TPS). The Bitcoin Lightning Network has no upper limit in terms of TPS, it can handle over 250 TPS on a single channel in the network and can work on an unlimited number of channels at the same time. (2) How the Lightning Network works A lightning channel is really just a set of pre-signed transactions. What I haven't covered is the incentive model that allows it to work. Once a deal is signed, you will never be able to take it back. It will always exist and will always be a valid bitcoin transaction, unless you use that bitcoin for a different transaction (you can't spend bitcoins twice; once a transaction has spent some bitcoins, any other attempt to act on those tokens will be invalid). Now, because the lightning channel is a 2-to-2 multi-signature, neither party can sign a new transaction without the cooperation of the other party. This means that you can't invalidate all other pre-signed transactions you make on the chain without the cooperation of the other party. It's as if you both opened the channel together, so you must update it together. If either party can act unilaterally, then one of you can steal all the funds. Each time both parties exchange funds in their lightning channel, Bob sends 1000 bitcoins to Alice and they generate a new pre-signed transaction that reflects their updated balance. If all parties behave amicably, they will only keep the latest pre-signed transaction, as the previous one will no longer reflect the correct balance. If both parties want to cash out, they can use the latest pre-signed transaction to pay the current balance to both parties in the form of on-chain bitcoins. But what if the other party is not friendly? What if Bob spent his portion of the funds by sending them to Alice, but now wants to cash them out using the previous pre-signed transaction, which still shows all the funds from his channel? We use 'penalty keys' to solve this problem. This allows you to effectively invalidate all previous pre-signed transactions without actually having to actually invalidate them on the chain each time. Once both parties have replaced the old pre-signed transaction with a new one that updates the balance, they also exchange penalty keys. The system is designed in such a way that if one of the parties tries to execute the old transaction, the other party's penalty key is enabled and can be used to claim 100% of the funds in the channel. Crucially, pre-signed transactions have a built-in time lock, so there is always the opportunity for the other party to use the penalty key before the transaction can be confirmed in a Bitcoin block. In effect, you're not invalidating existing pre-signed transactions, you're just encouraging the other party not to use them. If they try to steal and you catch them, you can take all their money. (3) Advantages of the Lightning Network -Unlike traditional payment cards, it does not allow banks and other institutions to interfere with payments. -No transactions of any kind can be carried out without the holder's consent. -thanks to specially designed protocols, it significantly increases privacy, even to the extent that so-called brokers do not know who the senders and receivers of payments are. -it is a virtually costless transaction in the Bitcoin network. (4) Lightning network anti-cheating mechanisms ①Bi-Directional Payment Channel ) The Bi-Directional Payment Channel can be simply understood as a contractual model for recording transfers in duplicate. I sign my copy of each transfer to the other party, and the other party signs his copy to me. We can each take the contract in our own hands, sign our names, and take it to the bank (bitcoin blockchain) to register it. Of course, as mentioned above, we don't have to register every single one of them, we can just register the latest one after we've done a million transactions. ②TimeLock+Secret Value Time locks and passwords are both clauses in the transfer contract. A time lock is the time when a clause in a contract takes effect. A password is used to give immediate effect to a clause. Each transaction generates a separate password. (5) How do I use the Bitcoin Lightning Network? The following is a list of Bitcoin wallets that support the Bitcoin Lightning Network. -Lightning Peach (Android, iOS, Windows, Mac, Linux) -Spark (Android, Windows, Mac, Linux) -Me (Web) -Bluewallet (Android, iOS) -Satoshi Nakamoto Wallet (Android, iOS) -Zap (iOS, Windows, Mac, Linux) -Bitcoin Lightning Network (Android) -Éclair (Android) -Shango (Android, iOS) -Casa Node (hardware) -Joule (browser connected to Chrome (including Brave), Firefox, Opera)
The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC". https://accounts.binance.com/en/register?ref=Q022W7SC
(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.
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