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What is #PoET (Proof of Elapsed Time) ?
Proof of Elapsed Time (#PoET) is a consensus mechanism that is used in some blockchain networks to validate transactions and create new blocks. It is based on the principle of #randomly selecting a validator node to create a new block, but unlike Proof of Work (#PoW), PoET does not require energy-intensive computations.
In #PoET, nodes in the network wait for a randomly generated timer to expire before attempting to create a new #block. The timer is set by a trusted execution environment (#TEE) which is a secure, isolated environment within a node's hardware. When a #node's timer expires, it is allowed to create a new block and broadcast it to the network. The node that creates the next valid #block is rewarded with cryptocurrency.
The idea behind #PoET is that the randomness of the timer selection ensures that no single node has an #advantage over others in the network. The use of TEEs also makes the process more secure, as the timer cannot be manipulated by #malicious nodes.
#PoET is used in some blockchain networks, such as #Hyperledger Sawtooth, to achieve consensus in a more #energy-efficient and secure manner compared to #PoW.
#BTC started a very corrective move after the sharp dump and ite more like a pullback/ retracement. Price will reject either from resistance around $27,850 or from strong resistance around $28,550 - $28,700. Keep an eye on the mentioned levels
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Bottom Based Signal
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#ZIL flipped above the resistance and moved up after a immediate retest. Price again rejected the major resistance area, were dropped around 8.4%. Price plating out the zone perfectly as drawn and if you took advantage, good for you 📈
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Here's the Analysis of #OCEAN :
#OCEAN is been bouncing of the supporting trendline and trading inside the falling wedge pattern, in which breakout is still pending. Wait for a breakout of the happen for potential buys. Structure looks bearish, so a break below of the trendline, whill be high probable shorting opportunity till major support zone of $0.300 - $0.307
What is PoC (Proof of Capacity) ?
Proof of Capacity (#PoC) is a consensus mechanism used in some blockchain networks to $validate transactions and create new blocks. Unlike other consensus mechanisms such as Proof of Work (#PoW) or Proof of Stake (#PoS),#PoC requires users to allocate a specific amount of #disk space to participate in the $mining process.
In #PoC, #miners create plots, which are essentially pre-computed data sets that contain a specific number of cryptographic hashes. These plots are stored on the miner's hard drive and are used to prove that the miner has the necessary resources to validate transactions and create new blocks. When a new #block is to be created, miners use their plots to find the solution to a #mathematical problem, and the miner who finds the solution first gets to create the next block and receive a #reward in the form of #cryptocurrency. Example of a coin uses #PoC is #BURST Coin
#PoC is considered to be more energy-efficient than #PoW, as it doesn't require miners to perform intensive #computations that consume a lot of electricity. It is also more resistant to centralization than #PoS, as it doesn't give an advantage to those who hold a large amount of #cryptocurrency, and instead rewards those who have invested in storage #capacity.
Limitations
—> PoC is still not under mass usage like proof of work.
—> The drives use for storing data of hashes have a lot of free space. Which makes it hard to detect any malicious computation storage by network intruders.
—> Massive adoption of this approach might lead to competition among high-capacity hard drive sellers.
#ZIL gave a good rejected over the resistance area and dropped around 8% in favor. Price is again up for the testing out the zone, and anticipating a rejection now, bit incase price flips the zone, we have all the way to move till major resistance zone around $0.0361
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#BTC broke the $28,000 mark, and now its the matter of fact to see, if price sustains above the support zone of $26,900 - $27,000. Well, as of now, market is more prone to bearish structure. Let's wait for a rejection or breakout for further indication.
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Transaction counts are now over 270,000 per Day. We can see that, normally it reaches this zone as price make the Cyclic High 👀
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#Bitcoin unable sustains above the support zone and gave a close below with a Daily Candle. Well, Minor supports were price could bounce off, and we already predicted the dump accurately. Now, price is still hodling above $28,000, which is still considered as a normal pull-back. Once it start breaking the area then we can expect the continuation till $26,900 - $27,000.
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What is Delegated #DPoS(Proof of Stake) ?
Delegated Proof of Stake (#DPoS) is a consensus algorithm used by some blockchain networks to validate transactions and create new blocks in the chain. In DPoS, token holders elect a group of nodes, known as "#witnesses" or "#delegates," to act as validators and create new blocks on behalf of the network.
The voting power of each token holder is proportional to the number of #tokens they hold, and they can use their tokens to vote for their preferred witnesses. The top-ranked witnesses are then selected to create new #blocks, with each block being #verified and approved by a certain number of witnesses before being added to the #blockchain
#DPoS is designed to be a more efficient and faster alternative to Proof of Work (#PoW) consensus. In #PoW, miners compete to solve complex mathematical puzzles to create new blocks, which requires significant computational power and consumes a lot of energy. In #DPoS, the block creation process is delegated to a smaller group of validators, which reduces the computational requirements and #energy consumption of the network.
#DPoS is used by several blockchain networks, including #Steem, #BitShares, and #EOS. However, it has been criticized for being more #centralized than other #consensus algorithms, as the power to validate transactions and create new blocks is concentrated in the hands of a small group of #witnesses or delegates.
#ICX did gave a close below candle of the zone and dumped strongly till support zone of $0.305 - $0.311. If you took the entry on call then you're in 11.2% in profits. Secure major partial here with stops at Breakeven.
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#BTC unable to sustain above the zone and Rejected from some sort of resistance/ itty bitty area as mentioned. Currently, price taking support nearby drawn area of $28,600, which is the Strong support too. Well, $28,000 is the level to be hodled else we might see some fear factor, which may drive the price down
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#ID didn't gave any market structural shift and still looking bearish. Price is still on the support, so you can close it at Breakeven stage as its moving inside a downtrend channel pattern. Shorting only after break below of zone
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Here is the analysis of #ID:
Price tapped into the support zone of $0.653-$0.681. This is a zone of high interest and the possibility of bounce is there. Open long here with tight stop loss. The resistance is $0.815-$0.84 and zone for profit booking.
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#WAVES did gave a scalping move down after a candle close. If you took the opportunity then great for you, as of now, you should wait for the proper retest back to the major resistance after a potential setup
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#BITCOIN WEEKLY UPDATE :
#BITCOIN did what anticipated throughout this week. Price retraces this whole week and came nearby $27,000. Well, this might be a fakeout rather than retracement but as of now, price is hodling above the Daily Strong Support area. Price must needs to hodl this else, we can see a clean move down till $24,600 and lower.
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Even though the price of #Bitcoin has increased by more than 100% from its lows, there hasn't been a significant increase in the spending of older #coins. The chart presented below indicates that less than 20% of the wealth held in Bitcoin belongs to coins that are less than 3-months old, a situation typically associated with #bear cycle lows.
This implies that coins held by #Hodlers (older than 3-months) still constitute more than 80% of the wealth, despite the market's downturn in 2022 and its subsequent upswing in 2023.
Similarly, these Supply (Older than 3 month), goes below 20%, which is the sign of the Market bottomed out. Let's see how far thus data is correct 👀
#ROSE break below the large uptrend channel pattern and trying to break below the support zone too. If price break and close the zone, then we can expect the easy drive down till next support around $0.053 and $0.049. Keep an eye on it and take risk accordingly.
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Here's the analysis of #ROSE :
#ROSE rejection from the minor resistance area around $0.0811 - $0.0818, which is just below the major resistance of $0.0846 - $0.0862. Currently, price is traveling inside the large channel pattern and reaching out the support area of $0.0611 - $0.0617, were a Bounce is expected. As of now, nothing is we can do, better wait for the support to break or a support to form.
What is #PoI (Proof of Importance) ?
"Proof of Importance" is a #consensus mechanism used in #blockchain technology to validate and verify transactions on a network. It is used in the #NEM cryptocurrency network, which is based on the "#Importance" score of network participants rather than their #computing power (as in the case of Proof of Work) or their stake in the network (as in the case of Proof of Stake).
In the #Proof of Importance mechanism, the Importance score is determined by the amount of #NEM coins held by the user, as well as the number of transactions they have made in the network. The more coins held by the user and the more #transactions they have made, the higher their Importance score. This score is used to determine the likelihood that a particular user will be chosen to create the next block in the #blockchain.
The Proof of Importance #mechanism is designed to incentivize active participation in the network and discourage hoarding of #coins. It also allows for a more #decentralized network since users with a higher Importance #score are more likely to be chosen to validate transactions, rather than those with a large amount of computing power or #stake in the network. In other words, consensus reward users who actively transact in a cryptocurrency by prioritizing miners based on the amounts and sizes of transactions made from their wallets. A proof of importance system may account for additional factors, such as the wallets to and from which transactions are made.
#ZIL given a close below candle and moves lower nearby till support area around $0.0288. The move was perfect for scalping, i hope you would have get-in the move. Right now, price is retracing back the zone as resistance with a trendline retracement too, so a rejection is expected.
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Here's the analysis of #WAVES :
#WAVES is been making messy moves and slides below the major support zone, which will turned into major resistance after a daily candle close closure. The zone is around $2.052 - $2.106 and a close below will give a scalping opportunity till $1.86. The direction is not much clear, so use low risk.
The current market reading of 0.36 indicates a neutral level, with 55.8% of days having a higher reading and 44.2% being lower. This is consistent with previous market cycles between #bear and #bull markets. The neutral level suggests that the market is neither significantly underpriced (as it was at $16,000) nor significantly #overpriced (as it was at the $60,000+ peak).
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#HOOK gave a close below candle of the support zone and next candle plunged quickly till structural support and even lower. Price made a low of $1.933, which is 13.7% in profits. If you're still in trade close partials here. Next area would be $1.74 and $1.66
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Binance Will Support the Terra (LUNA) Network Upgrade
https://www.binance.com/en/support/announcement/8a471f3b08e34d13b02c39b2245acbc8