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What is Permission less Blockchain ?
A permissionless blockchain is a type of blockchain network that allows anyone to join the network, participate in the process of block validation (often referred to as mining), and perform transactions without needing approval or permission from a centralized authority. It is characterized by its open and decentralized nature, which contrasts with permissioned blockchains that restrict access to a select group of participants.
Here are the key features and concepts associated with permissionless blockchains:
1. Decentralization: Permissionless blockchains operate on a decentralized network of nodes (computers) that collectively maintain the blockchain ledger. No single entity or authority has control over the network.
2. Open Access: Anyone can download the necessary software, become a node on the network, and participate in activities such as mining, transaction validation, and adding new blocks to the blockchain. There are no entry barriers or requirements to join.
3. Trustless System: Permissionless blockchains rely on cryptographic algorithms and consensus mechanisms (e.g., Proof of Work or Proof of Stake) to validate and secure transactions. Participants do not need to trust each other; they trust the blockchain's rules and mathematics.
4. Censorship Resistance: Transactions on a permissionless blockchain are resistant to censorship because there is no central authority that can block or reverse transactions. This feature is particularly valuable in regions with limited freedom of speech or oppressive governments.
5. Public Ledger: The entire transaction history of a permissionless blockchain is publicly accessible and transparent. Anyone can verify transactions, ensuring the integrity of the network.
6. Cryptocurrency: Many permissionless blockchains have their native cryptocurrencies (e.g., Bitcoin, Ethereum). These cryptocurrencies are used as incentives for miners, as a means of exchange, and to pay for transaction fees on the network.
7. Innovation: Permissionless blockchains encourage innovation because developers can create decentralized applications (DApps) on the platform without seeking approval. This has led to a wide range of use cases beyond simple currency, including smart contracts, tokenization, and more.
8. Energy Consumption: Some permissionless blockchains, such as Bitcoin, use energy-intensive consensus mechanisms like Proof of Work (PoW). This has raised concerns about their environmental impact due to the significant amount of computational power required.
9. Scalability Challenges: As more users join a permissionless blockchain network, scalability can become a challenge, leading to issues like slower transaction processing times and higher fees. Various solutions are being explored to address these challenges.
Notable examples of permissionless blockchains include Bitcoin (the first cryptocurrency), Ethereum, and many others that have emerged over the years. These networks have gained popularity for their ability to provide secure, decentralized, and borderless financial and technological solutions. However, they also face ongoing debates and challenges related to scalability, energy consumption, and governance.
#BTC following up the range, and moving in our favor if you managed to enter after rejection. Price almost reached out the other end of the zone, so make to book profits and prepare for shorts over there.
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Here's the Analysis of #INJ :
#INJ is been been trying to breakout of the Downtrend Channel Pattern and also flipping above the support zone of $6.88 - $6.96 . Well, in that case, if price closes above the zone, then we can see a mid-term bullish move in #INJ. Overall, market is in downtrend, so it can turn into a fakeout, so care watch it.
🟢 #Stablecoins have experienced a persistent decline in supply since April 2022, as redemption commenced following the collapse of LUNA-UST.
Both 🟠 #BTC and 🔵 #ETH experienced a net inflow of capital since the start of the year, seeing their Realized Cap's climb by up to $6.8B/month (#BTC) and $4.8B/month, respectively.
This Concludes, Stablecoins started losing value since April 2022 due to issues with #LUNA-#UST. #Bitcoin (#BTC) and #Ethereum (#ETH) gained more capital this year, but since late August, things have slowed down for all three. This might mean that the market is uncertain and not moving much."
#SNX is not good enough for buys, already told. Price created below the range and retesting as resistance multiple times around $2.13. This looks good for short-sells now, take it accordingly.
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Here's the Analysis of #SUSHI :
#SUSHI is been consolidating over the last area of support or we can say nearby its ATL (All-Time Low) around $0.472 - $0.551 and kinda wait for a breakout to take any setups into account. You can have a range trading or Potential buys above $0.63 Mark. For shorting, wait for the major support to break.
#Bitcoin network settlement continues to languish, currently residing at a value of $2.63B.
This remains just $660M (25%) off of the cycle low of $1.97B, highlighting the significant full in network settlement.
#BTC goes exactly what HTF indicated. Price Strongly dipped below the $25,000 level and even goes nearby major support zone $24,880. It might be a manipulation move, so overall, upper are will remain as resistance and might reject again.
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What is Multi-signature Wallet ?
The term multisig stands for multi-signature, which is a specific type of digital signatures that can be created through the combination of multiple unique signatures. The multisig technology makes it possible for two or more users to collectively sign digital documents or cryptocurrency transactions.
Despite the fact that multisig has been extant within the world of cryptocurrencies, the principle is one that existed long before the creation of Bitcoin. The technology was first implemented to Bitcoin addresses in 2012, but the first multisig wallet was only created one year later.
How does it work?
In short, the funds stored on a multi-signature address can only be accessed when 2 or more signatures are provided at the same time.
As a simple analogy, we can imagine a secure deposit box that has two locks and two keys. One key is held by Alice and the other one is held by Bob. The only way they can open the deposit box is by providing their both keys at the same time, so one cannot open the box without the approval of the other.
This means that multisig wallets offer an additional layer of security and by using this technology, users are able to prevent the problems that often occur with the use of single-key wallets (the ones that rely on a single private key to be accessed). By having a singular key, the funds of common cryptocurrency wallets are protected by a single point of failure, and that is why cybercriminals are constantly developing new phishing techniques to try and steal the funds of cryptocurrency users.
Since multisig addresses require more than one signature to transfer funds, they are also suitable for businesses and corporations that may want to store funds on a shared wallet. This would mitigate the risks that arise by keeping the funds in the hands of a single person or by handling a single private key to multiple individuals at the same time.
#ADA gave a break below, of the zone started to pushing lower. Well, Its as per our plan, so if you took the trade, then try to trail the stops with moving market.
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Here's the Analysis of #ARB :
#ARB is been selling-off from the major resistance zone of $0.912 - $0.931. Also, price formed the Bear Flag, which price is resulting. Looking Left, Levels are clean to move lower, no potential levels to hodl. Wait for the price to pullback and take short-sells over $0.87.
#SNX made a support near the structural area and gave a strong Rejection Candlestick, which might a reversal move till strong resistance zone of $2.36. Careful with any sort of buys and all.
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#BITCOIN WEEKLY UPDATE :
#BITCOIN Previous Weekly Candle Cleared out the Previous Week High and this week, price mostly consolidated and making a indecision candle.Still, We're bearish, so downtrend continuation is expected and Target remain the same.
#JET pump summary:
Amazing signal with around 170k USDT in volume with a peak of +10200%. Hundreds of thousands of MEXC traders took notice of our call on #JET as it climbed the 'Top Gainers' list, resulting in massive profits for all! As we promised our whales supported our coin and we managed to go beyond our profit expectation perfectly and we're glad everyone participated. Although the peak didn't last as long as we intended it to, our coin sat as the #1 gainer on MEXC for few minutes. The sell pressure we faced today was unexpected, and as you can tell from our previous signals our coin should've stayed at its peak for much longer. Which means we gave external selling pressure from bots. Overall, we can safely say that this signal was a huge success and that the upcoming one will be a long lasting pump and we will make sure to reach again +10000% gains on MEXC. We are receiving many messages of appreciation and we are glad many of you managed to turn a massive profit on this signal! Stay tuned for our next signal announcement!
The coin we are pumping tonight is : JET
https://www.mexc.com/exchange/JET_USDT
Buy and hold for massive profits
#BTC.D nearly reversed from the major support zone and broken the structure too. Due to this, Altcoins made some crash over the short period of time. 50.64% is the next Resistance area where index can reach, so tighten the strong in open trades.
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#BTC reversed after some sort of panic mode and manipulation and but still $26,600 Mark is standing strong as resistance zone. Good thing to say, price is good above $25,000 breaking it lower will lead in Panic dump again.
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What is Orphan Block ?
An orphan block, also known as a stale block, is a term used in blockchain technology to refer to a block that was successfully mined but is not included in the main blockchain. Orphan blocks typically occur when multiple miners solve a block at nearly the same time. Only one of these blocks can become part of the blockchain, while the others become orphans.
Working
Miners compete to solve complex mathematical puzzles in order to add a new block of transactions to the blockchain.
Sometimes, multiple miners solve the puzzle at a similar time. These miners then broadcast their newly mined blocks to the network.
The network chooses one of these blocks to be added to the blockchain. This choice is typically based on which block is received and verified by the majority of nodes in the network first. The first block to reach consensus becomes part of the blockchain, while the others are considered orphaned.
Orphan blocks do not contain invalid transactions or incorrect data, they are simply not included in the main blockchain.
Miners who contributed to the orphaned block do not receive the usual block rewards for their efforts. This is because their block was not added to the blockchain.
In summary, orphan blocks are a natural occurrence in blockchain networks and are a result of the decentralized and competitive nature of blockchain mining. They represent blocks that were almost part of the blockchain but ultimately were left out due to the network's consensus mechanism.
Notice of Removal of Trading Pairs - 2023-09-15
https://www.binance.com/en/support/announcement/7f6d179aff1740d387d451a9659d9c6b
#BTC did what we said, price rejected nearby its drawn up resistance zone around $26,600 and dropped. Well, now we can expect a new lower low to form and tapping below $25,000 support.
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What is OCO Order ?
An OCO (One Cancels the Other) order allows you to place two orders at the same time. It combines a limit order with a stop-limit order but only one of them can be executed. This means that as soon as one of the orders is partially or fully filled, the other is automatically canceled. Manually canceling one of the orders will also cancel the other one.
When trading on Binance, you can use OCO orders as a basic form of trade automation. This feature allows you to place two limit orders at the same time, which can minimize potential losses. However, the use of OCO orders may vary slightly, depending on the specific exchange used.
For instance, you may have bought 5 ETH for 0.34 BTC due to speculation that ether will likely increase in value against bitcoin. You can then use OCO orders to minimize losses should your prediction be incorrect, or take profits if the outcome is in your favor.
To do this, you could place a profit-taking order at 0.4 BTC, along with a stop-limit order at 0.3 BTC. If the price rises to 0.4 BTC, your sell order will be executed and the stop-limit order will be canceled automatically. Conversely, if the price drops to 0.3 BTC, the stop-limit order will be executed and your profit-taking order will be canceled.
The sell order will only be placed if the trigger price is reached or exceeded, which in this case is 0.34 BTC. So, if the price of ETH/BTC drops to or below 0.34 BTC, a sell order will be placed at 0.3 BTC.
The OCO feature allows traders to work in a safer and more versatile way by automating the aforementioned tasks, so they can lock in profits and minimize risk. Do note that while this is a simple tool, using it effectively requires a good understanding of limit and stop-limit orders.
#ADA is been given a break below of the zone which is the short-sell opportunity. Price moved in 5.62% in profits. Better it time to set at breakeven and hodl it. We've clean traffic, to the left and might hit BE stops. Attempting sells until it flips above the zone.
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Here's the Analysis of #LUNA :
#LUNA is been consolidating in a range and kinda trying to hodl above the support zone of $0.388 - $0.393. Well, if market remains stable, then we can see a push in price till Resistance zone around $0.46 5 - $0.470. You can either trade the range or Wait for Break below of the zone.
#UNFI made a final push and dumped hard back to the support zone. Well, In this ranging market, our call peaking more than 50% in favor. Right now, Price broke below the support zone, so buying would be risky. Shorting would he Higher Probabilistic.
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#BTC gave a strong fakeout over the zones and slowly declining the below but support nearby standing strong. Well, Looking into #DXY we can have a short-term upmove before going lower. Moreover, more fundamental events coming in, to tighten your stops too.
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What is Mempool?
A mempool (a contraction of memory and pool) is a cryptocurrency node’s mechanism for storing information on unconfirmed transactions. It acts as a sort of waiting room for transactions that have not yet been included in a block.
When a transaction is broadcast, it is sent from a node to its peers, who will then pass it on to their peers. This continues until the transaction has been widely propagated, ready for miners to add it to a block. It’s vital that this buffer zone exists, as transactions are not added to the blockchain immediately.
Nodes will run a series of checks to ensure that the transaction is valid – i.e., verifying that signatures are correct, outputs do not exceed inputs, and funds have not already been spent. If it fails to satisfy these conditions, it is rejected.
We often speak of the mempool, but it should be noted that there is no universal pool shared by all nodes. Each one is configured differently and receives transactions at different times. Lower-end devices with limited resources may only dedicate small amounts of memory to logging transactions, whereas higher-end ones might devote considerably more.
As miners are motivated chiefly by profits, transactions with higher fees attached are those most likely to be discarded from the mempool first as they’re confirmed. Accurately estimating fees is difficult, particularly when block space is limited, and demand is high, but the mempool provides a starting point.
To estimate fees, one can look to the current unconfirmed transactions. It stands to reason that users should not overpay in times of low throughput. Nor should they underpay for time-sensitive transactions at peak times, as it may be a while before it gets confirmed. By taking into account the spread of fees at a given moment, they can make an educated guess at how quickly their transaction will be included.
#Bitcoin network settlement continues to languish, currently residing at a value of $2.63B.
This remains just $660M (25%) off of the cycle low of $1.97B, highlighting the significant lull in network settlement.
Here's the Analysis of SNX :
#SNX is been gave a fakeout above the Strong Resistance Zone of $2.36 - $2.41 and hodling above the structural support area of $2.16. Well. Range is pretty much tight for anything but for shorts, its looking clean. Wait for 4H candle to close below and take low risk here.
Big News 🛑
#FTX will likely get approval to liquidate its assets on Sept. 13.
#FTX had $3.4B in Crypto in April. The proposed plan is to sell assets worth up to $200M per week.
Use Tight Stops in Every Trade, Specially in #SOL #APT #DOGE #XRP #MATIC
3 hours left until the mega pump on MEXC! Things are looking great for us and we will definetly be expecting a very nice pump!
Here is a list of things you need to know before the pump:
- The faster you buy the more profit you will make, buying early is the most important factor that will determine your profits.
- If you are using market buy , using the 100% option won't work , instead use between 75% and below.
- The pump will be free for all and on MEXC, the signal will be given on all our telegram groups at the same time