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How to mine TRON

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Tron (TRX) was founded in 2017 by entrepreneur Justin Sun’s non-profit organization called the Tron Foundation.

TRX was built with the aim of creating a free and global digital content entertainment system that allows for easy and cost-effective sharing of digital content. Despite facing its share of controversies, Tron (TRX) has grown into one of the world’s largest cryptocurrencies. At the time of writing, Tron is ranked as the 17th largest cryptocurrency with a total market capitalization of almost $1.1 million.

How do you mine a TRON coin

While you may not be able to mine Tron, you can still get TRX through mining. A way for miners to get involved in Tron is by mining Ethereum on your GPU and then being rewarded in TRX.

Mining with GPUs is considerably more efficient than mining on your CPU. One way of mining TRX is to head over to Tron mining. The platform allows Tron mining indirectly by mining two different algorithms, giving you the choice between Ethash, an algorithm used for encrypting Ethereum, or CryptoNite, an algorithm that has been used on more privacy-focused coins like Monero.

The process works by you mining Ethereum as you normally would, the platform then takes the Ethereum rewards and uses them for their mining pool, before exchanging it and paying it back to you in TRX.

Step 1

In getting your Tron mining started, you’ll want to download some GPU mining software like Claymore’s Dual Ethereum Miner.

Step 2

Once you’ve downloaded the mining software, open the batch file labeled “start_only_eth.”

Step 3

Then, head over to tron-mining.com and copy the Ethash algorithm, it should look something like “ethash.unmineable.com:3333.” This will get your miners focusing in the right direction.

Step 4

Highlight the text in the text document that reads “eth-eu1.nanopool.org:9999” and replace it with your receive address.

Step 5

Next, you’ll need your Tron address. Navigate to your wallet, copy your receive address and paste it over where it says “your wallet address.” Then, type in “allpools 1” at the end. This will allow the miners to switch between various coins without breaking. It’s recommended you change the name of the BAT file from ETH to Tron to better identify it.

Step 6

Once you’ve done that, close the text files and get your miners up and running. Wait some time and you should start seeing some accepted shares messages letting you know you’re now mining. You could always navigate back to the website and paste your receive address to calculate your potential earnings.

Staking Tron

Step one in staking is to buy some TRX from your exchange of choice. Once you’ve bought some, you need to transfer it to your wallet. Staking TRX is quite a straightforward exercise and can often be done straight from your wallet. If using Atomic wallet, simply navigate to the staking tab, click on Tron, and select the stake option. You should then be presented with all the relevant information. Enter the amount you want to stake either in US dollars or in TRX. Double-check everything is correct, click stake, and enter your password. That’s it, you have now staked your TRX. You will be able to unstake TRX and claim your rewards after three days of staking.

Staking pools

If you decide that Staking TRX is the way to go, you should consider joining a staking pool. Functioning in a similar way to mining pools, but instead of being grouped with other miners, it’s a group of coin holders who consolidate their resources to increase their chances of validating blocks to get the rewards.

The rewards are shared proportionally to their contributions. Maintaining a staking pool requires a lot of time and resources. As such, many pools will charge a small fee from the distributed staking rewards.

Additionally, pools provide a layer of flexibility for individual stakers as staking generally requires your coins to be locked in for a fixed period and usually includes a waiting period for withdrawals. There is also usually quite a substantial minimum balance required to stake in order to discourage malicious behavior. By comparison, staking pools require a lower minimum balance and impose no withdrawal times, making staking pools ideal for newcomers.

Tron mining FAQs

Can Tron be mined?

Cryptocurrencies related to Bitcoin don’t exist if they aren’t mined, whereas coins like TRX can’t be mined. So the short answer is no, you can’t mine Tron. All the coins have already been mined in the sense that they already exist.

This is because Tron uses a Proof-of-Stake (PoS) algorithm to validate new TRX coins. This differs from the process used with Proof-of-Work (PoW) models. With cryptocurrencies that function on PoW like Bitcoin, mining is required for the generation of new coins with additional miners strengthening the network.

However, on a PoS system, there is no mining at all. Instead, new coins are produced and validated through the process of staking. This requires validators to store their crypto so they can be randomly selected by the protocol to create a new block.

This allows for the generation of new blocks without the expensive equipment like ASIC mining machines. Typically, the more cryptocurrency you have staked, the greater your chances of being selected. So, while PoW requires miners to invest in hardware, PoS requires an investment in the cryptocurrency itself.

Can Tron reach $100?

There is no easy way to answer this question. The cryptocurrency market is extremely unpredictable, so it’s not impossible for Tron to reach $100. Taking Bitcoin as an example of the volatility, it began 2017 trading at around $800 and by the end of the same year, the asset was worth almost $20,000. By the following year, the price had fallen to about $6,000.

However, there are many in the space who argue that TRX has immense potential, so while Tron is currently trading on the market at around $0.015 at the time of writing, the possibility exists where we’ll see the day Tron crosses $100, though it’s unlikely to happen anytime soon.

So, while Tron mining isn’t possible, there are ways you can get some while still contributing to the overall wellbeing of the network. And with that, you should now have everything you need to know to start earning some TRX. Good luck and happy hodling!

Source: https://www.cryptopolitan.com/how-to-mine-tron/

Blockchain

Mining Bitcoin: How to Mine Bitcoin

Introduction to Bitcoin Mining Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was … Continued

The post Mining Bitcoin: How to Mine Bitcoin appeared first on CryptoCanucks.

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Introduction to Bitcoin Mining

Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was launched in 2009. Today, in 2019, there are at least a million bitcoin miners around the world. A single bitcoin (or “1 BTC”) is worth almost $10,000, give or take a few hundred dollars, and there are around 1,800 new bitcoins mined every day, meaning there’s a whopping $18,000,000 being ‘created’ every day.

Not bad for ten years. No wonder everyone wants to learn how to mine bitcoin.

A Brief History on Money

Cryptocurrency is math that can be used as money.

Money is, fundamentally, an accounting of debt; you owe someone for a good or service, and giving them money erases that debt. Banks are giant ledgers, accounting for every transaction – when you paid for your coffee, this “ledger” sees that you lost $2 and the coffee shop gained $2.

Paper dollar bills do not record this specific transaction – who lost and who gained those $2 – but they act as evidence of a transaction having taken place at some point. In fiat currency, a state is the ultimate arbiter or holder of all the debts – and the one that mints, or makes, the currency in the first place. They account for how much currency they put out, and approximately how much is present now; the only road bump being that they do not know every transaction in between.

In cryptocurrency, no one person or entity controls a central ledger, because this “ledger” is effectively on every computer connected to the network of that currency; everyone has it. Since each unit of the cryptocurrency is composed of math, as opposed to physical substances like paper or gold, this math effectively records every transaction

So Where Does it Come From?

Fiat currencies are “made” (or rather, minted) by states, and accounted for by banks, but these currencies are often directly or indirectly made from precious metals that are mined from the Earth – which is why so many people flooded California in the mid-19th century. Minting is a middle step between the mining and the currency.

Cryptocurrency cuts out that middle step; bitcoin is “minted” and made from BTC mining.

If bitcoin is commercialized math, then mining is the process of solving all its equations. A common, yet accurate, joke explanation is, “imagine if you could solve puzzles, then use those solved puzzles as money”. Bitcoin is that, but on a much larger and astronomically more complex scale; bitcoin mining is both the process of solving puzzles, and the process of verifying other solves puzzles.

That said, these “puzzles” (called “blocks” in BTC mining) are operating on a very complicated scale. BTC mining is basically the process of racing to correctly the correct number out of 115,792,090,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 possible options – and doing so hundreds, thousands, maybe even millions of times a day. This takes some pretty hefty computing power.

How to Mine Bitcoin

Despite a lot of chatter about bitcoin mining software, it is really a matter of hardware; software is just the most accessible way to access this hardware.

“Winning” or solving – and receiving payout for – is a combination of computational power and a bit of luck. If you accomplish this, you can get about 12.5 bitcoins, though starting in 2020, that will become 6.25. The number of bitcoins you receive for solving a block cuts in half every 210,000 blocks – which is roughly every four years, since the blocks get more and more complicated over time. This will keep going until 21 million bitcoins have been mined, a cap built into the system. There are currently only 3.17 million bitcoin left to be mined.

How to Mine Bitcoin in the Hard(ware) Way

There are two types of “miners” you can buy: application-specific integrated circuit (ASIC) or graphics processing unit (GPU). These are not only very expensive to buy, but they also take up a lot of electricity and require a powerful network connection. This is why mining calculators exist – these are various apps and sites into which you can input details on your miner, your power cost, and your network cost, to figure out how much profit (if any, even) you will turn.

It is usually pretty low, and these days, mining with your own hardware is only really advised for people who already happen to have lots of hardware and great network on hand, and would not need to go out of their way to get those.

That just leaves…

How to Mine Bitcoin With Bitcoin Mining Software

At 12.5 BTC per block, when bitcoins are worth $10,000 each, that’s $1,250,000 on the line every time you are competing with other miners to “guess the right number” first. This takes far more computer power than most people can afford on their own.

As such, the most common way to get in on BTC mining is to join a collective of miners and “rent” the mining tools – known predominantly as cloud mining.

The biggest advantage is that there is a much lower barrier to entry when you cloud mine bitcoins. The biggest disadvantage is that instead of getting the reward all to yourself, you are splitting those bitcoins with other people, and typically a lot of them. Winning a million dollars doesn’t mean as much when you’re splitting it with a million people.

Step 1: Choose Your Wallet

Before you start working for a job, you want to know how you will be getting your pay. By the same token, before you start mining for bitcoins, you should know where you will keep your bitcoins once you earn them.

Online wallets are typically the most convenient, and easiest to use. They are also typically the most efficient for actually using your bitcoins to purchase goods and services, and you will have your bitcoins even if you lose all your devices. That said, this does put you in a similar position with a bank. If the host is experiencing heavy traffic or DDOS attacks, you may not be able to access your funds, and if they are hacked, you can lose your bitcoins entirely.

Hardware wallets are the opposite extreme. As physical objects, are completely offline, and thus cannot be hacked or otherwise remotely attacked. As long as you have your hardware wallet and a device to access it with, you will be able to access your funds. But what you gain in remote security is lost in personal security; if you lose your device or it’s physically stolen from you, you lose your bitcoins.
The middle-ground between these is “software wallets” or “desktop wallets” (though these can also be mobile apps). These are on your local device, so even if exchanges go down or are attacked, you still have your bitcoins, and the only way you can lose them to remote exploitation is if you, the specific individual, are targeted and hacked, which is very unlikely. But, it can still be used to conduct transactions and otherwise go online as necessary. That said, this is also vulnerable to loss if you lose your physical device (i.e. if someone steals your computer).

Step 2: Find Your Cloud

Mining companies are the computing clouds or collectives of miners. While joining such a company might be couched in terms of renting the hardware, another way to look at it might be that you are investing.

The amount you invest, or the rate at which you rent, is known as a “mining package”, which you pick once you join a mining company. You can also invest ahead of time in new technology that will be coming out at a later date. That said, investing in something that doesn’t exist yet is always a heavy risk.

There are many sites in which you can find comparisons between companies, including user ratings and reviews. Be careful with the
reviews – while they can be insightful, many are also full of people attempting to get new ‘recruits’ specifically with referral codes, which will net the refer-er a small bonus or profit.

Step 3: Pick Your Pool

A “pool” is basically the team of miners that you choose to join up with, and contribute your invest or computing power. If you are just starting out mining bitcoins, you should start by joining an “older” (or rather, more established and vouched-for) pool, and perhaps one with lower fees. The payout or profit from these will usually be on the low side, but they are also less risky.

As you get the hang of bitcoin mining and learn how pools work, you can start venturing out to other pools that aren’t as established and carry higher risks, but also higher rewards.

Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, the world’s home for cryptocurrency.


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Source: Coinsquare: Mining Bitcoin: How to Mine Bitcoin

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/mining-bitcoin-how-to-mine-bitcoin/

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Mining Bitcoin: How to Mine Bitcoin

Introduction to Bitcoin Mining Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was … Continued

The post Mining Bitcoin: How to Mine Bitcoin appeared first on CryptoCanucks.

Avatar

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Introduction to Bitcoin Mining

Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was launched in 2009. Today, in 2019, there are at least a million bitcoin miners around the world. A single bitcoin (or “1 BTC”) is worth almost $10,000, give or take a few hundred dollars, and there are around 1,800 new bitcoins mined every day, meaning there’s a whopping $18,000,000 being ‘created’ every day.

Not bad for ten years. No wonder everyone wants to learn how to mine bitcoin.

A Brief History on Money

Cryptocurrency is math that can be used as money.

Money is, fundamentally, an accounting of debt; you owe someone for a good or service, and giving them money erases that debt. Banks are giant ledgers, accounting for every transaction – when you paid for your coffee, this “ledger” sees that you lost $2 and the coffee shop gained $2.

Paper dollar bills do not record this specific transaction – who lost and who gained those $2 – but they act as evidence of a transaction having taken place at some point. In fiat currency, a state is the ultimate arbiter or holder of all the debts – and the one that mints, or makes, the currency in the first place. They account for how much currency they put out, and approximately how much is present now; the only road bump being that they do not know every transaction in between.

In cryptocurrency, no one person or entity controls a central ledger, because this “ledger” is effectively on every computer connected to the network of that currency; everyone has it. Since each unit of the cryptocurrency is composed of math, as opposed to physical substances like paper or gold, this math effectively records every transaction

So Where Does it Come From?

Fiat currencies are “made” (or rather, minted) by states, and accounted for by banks, but these currencies are often directly or indirectly made from precious metals that are mined from the Earth – which is why so many people flooded California in the mid-19th century. Minting is a middle step between the mining and the currency.

Cryptocurrency cuts out that middle step; bitcoin is “minted” and made from BTC mining.

If bitcoin is commercialized math, then mining is the process of solving all its equations. A common, yet accurate, joke explanation is, “imagine if you could solve puzzles, then use those solved puzzles as money”. Bitcoin is that, but on a much larger and astronomically more complex scale; bitcoin mining is both the process of solving puzzles, and the process of verifying other solves puzzles.

That said, these “puzzles” (called “blocks” in BTC mining) are operating on a very complicated scale. BTC mining is basically the process of racing to correctly the correct number out of 115,792,090,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 possible options – and doing so hundreds, thousands, maybe even millions of times a day. This takes some pretty hefty computing power.

How to Mine Bitcoin

Despite a lot of chatter about bitcoin mining software, it is really a matter of hardware; software is just the most accessible way to access this hardware.

“Winning” or solving – and receiving payout for – is a combination of computational power and a bit of luck. If you accomplish this, you can get about 12.5 bitcoins, though starting in 2020, that will become 6.25. The number of bitcoins you receive for solving a block cuts in half every 210,000 blocks – which is roughly every four years, since the blocks get more and more complicated over time. This will keep going until 21 million bitcoins have been mined, a cap built into the system. There are currently only 3.17 million bitcoin left to be mined.

How to Mine Bitcoin in the Hard(ware) Way

There are two types of “miners” you can buy: application-specific integrated circuit (ASIC) or graphics processing unit (GPU). These are not only very expensive to buy, but they also take up a lot of electricity and require a powerful network connection. This is why mining calculators exist – these are various apps and sites into which you can input details on your miner, your power cost, and your network cost, to figure out how much profit (if any, even) you will turn.

It is usually pretty low, and these days, mining with your own hardware is only really advised for people who already happen to have lots of hardware and great network on hand, and would not need to go out of their way to get those.

That just leaves…

How to Mine Bitcoin With Bitcoin Mining Software

At 12.5 BTC per block, when bitcoins are worth $10,000 each, that’s $1,250,000 on the line every time you are competing with other miners to “guess the right number” first. This takes far more computer power than most people can afford on their own.

As such, the most common way to get in on BTC mining is to join a collective of miners and “rent” the mining tools – known predominantly as cloud mining.

The biggest advantage is that there is a much lower barrier to entry when you cloud mine bitcoins. The biggest disadvantage is that instead of getting the reward all to yourself, you are splitting those bitcoins with other people, and typically a lot of them. Winning a million dollars doesn’t mean as much when you’re splitting it with a million people.

Step 1: Choose Your Wallet

Before you start working for a job, you want to know how you will be getting your pay. By the same token, before you start mining for bitcoins, you should know where you will keep your bitcoins once you earn them.

Online wallets are typically the most convenient, and easiest to use. They are also typically the most efficient for actually using your bitcoins to purchase goods and services, and you will have your bitcoins even if you lose all your devices. That said, this does put you in a similar position with a bank. If the host is experiencing heavy traffic or DDOS attacks, you may not be able to access your funds, and if they are hacked, you can lose your bitcoins entirely.

Hardware wallets are the opposite extreme. As physical objects, are completely offline, and thus cannot be hacked or otherwise remotely attacked. As long as you have your hardware wallet and a device to access it with, you will be able to access your funds. But what you gain in remote security is lost in personal security; if you lose your device or it’s physically stolen from you, you lose your bitcoins.
The middle-ground between these is “software wallets” or “desktop wallets” (though these can also be mobile apps). These are on your local device, so even if exchanges go down or are attacked, you still have your bitcoins, and the only way you can lose them to remote exploitation is if you, the specific individual, are targeted and hacked, which is very unlikely. But, it can still be used to conduct transactions and otherwise go online as necessary. That said, this is also vulnerable to loss if you lose your physical device (i.e. if someone steals your computer).

Step 2: Find Your Cloud

Mining companies are the computing clouds or collectives of miners. While joining such a company might be couched in terms of renting the hardware, another way to look at it might be that you are investing.

The amount you invest, or the rate at which you rent, is known as a “mining package”, which you pick once you join a mining company. You can also invest ahead of time in new technology that will be coming out at a later date. That said, investing in something that doesn’t exist yet is always a heavy risk.

There are many sites in which you can find comparisons between companies, including user ratings and reviews. Be careful with the
reviews – while they can be insightful, many are also full of people attempting to get new ‘recruits’ specifically with referral codes, which will net the refer-er a small bonus or profit.

Step 3: Pick Your Pool

A “pool” is basically the team of miners that you choose to join up with, and contribute your invest or computing power. If you are just starting out mining bitcoins, you should start by joining an “older” (or rather, more established and vouched-for) pool, and perhaps one with lower fees. The payout or profit from these will usually be on the low side, but they are also less risky.

As you get the hang of bitcoin mining and learn how pools work, you can start venturing out to other pools that aren’t as established and carry higher risks, but also higher rewards.

Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, the world’s home for cryptocurrency.


Coinsquare

Source: Coinsquare: Mining Bitcoin: How to Mine Bitcoin

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptocanucks.com/mining-bitcoin-how-to-mine-bitcoin/

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Blockchain

Shiba Price & DOGE Price Settles, Is 2021 The Year Of Dog Memes?

doge shibu

The post Shiba Price & DOGE Price Settles, Is 2021 The Year Of Dog Memes? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Dogecoin is among the most popular cryptocurrency which produced many millionaires in 2020. The splendid rally raised many eye-brows and eventually it raised above all odds from being the primitive meme to an investment tool.  Yet in recent times, it appears that dogecoin is not only the one ‘Dog Meme’ token, yet many have landed …

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Dogecoin is among the most popular cryptocurrency which produced many millionaires in 2020. The splendid rally raised many eye-brows and eventually it raised above all odds from being the primitive meme to an investment tool. 

Yet in recent times, it appears that dogecoin is not only the one ‘Dog Meme’ token, yet many have landed and shaken the DOGE dominance. One such popular token is Shiba Inu, which is often termed as ‘Ethereum Killer’. 

Is Shiba Different From Dogecoin?

No doubt, both are ‘Dog Meme’ tokens, yet they completely differ in their fundamentals. Dogecoin is a product of the Bitcoin blockchain whereas Shiba Inu is an ERC-20 token built on Ethereum. 

Dogecoin, despite being the by-product of Bitcoin, has a diversified supply of coins, as there is no hard limit. Currently, there are more than 129 billion DOGE in supply which is quite less than that of SHIB, which has a total supply of 1 quadrillion supply.

Moreover, the market capitalization of Dogecoin is much higher compared to that of Shiba. DOGE stands strong within the top 10 with a market cap of more than $52 billion whereas SHIB market cap is around $6 billion. Therefore, Shiba Inu needs to work more hard to get close to its competitor DOGE.

Also Read: Shiba INU(SHIB) Price Enters Top 15, Acquiring Binance Listing!

Will Shiba Price Will Have A Similar Dogecoin Price Rally

Many promoting Shiba often tend to say, if you have missed XRP rally or DOGE rally, be a part of the SHIB rally. Yet many still wonder whether Shiba will surge further or else get rugged pulled in coming days.

The creators of SHIB have already burned a portion of total supply. And moreover has gifted 50% of the supply to Ethereum Co-founder Vitalik Buterin as a token of gratitude. This is one of the main concerns for many as recently, Vitalik liquidated just 10% of his holdings and SHIB price deteriorated. 

Dogecoin on the contrary has already rallied more than 1500% in 2021 after trading with lower prices till the end of 2020. Many believed it as just a meme, yet it became a part-time investment option for many. 

Currently both the crypto assets are witnessing a steep fall and attempting hard to recover. While SHIB price is very negligible, it is very hard to say whether the rally will be influenced by DOGE. Yet many analysts believe the future of the investments on SHIB are currently very misty. As one cannot say where the price may stand in the next 3 to 4 months. 

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/altcoin/shiba-price-vs-doge-price/

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Polkadot-centric derivatives exchange raises $6.4M in seed funding

DTrade is planning to build the first derivatives exchange on Polkadot following a highly successful private investment round.

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Decentralized exchange dTrade is bringing derivatives trading to the Polkadot ecosystem after concluding a $6.4-million seed investment round, setting the stage for wider decentralized finance use cases on the developer network. 

The private investment round was led by some of the biggest names in the blockchain venture capital world, including Three Arrows Capital and DeFiance. Polychain Capital, ParaFi Capital, Huobi, Mechanism Capital, Bixin Ventures, IOSG Ventures, Hypersphere Ventures and Fenbushi Capital also participated.

Several companies have also stepped up to support liquidity on dTrade, including Alameda Research, CMS Holdings, MGNR, Kronos and Wintermute.

Alameda Research has invested heavily in Defi this year, allocating $20 million toward Reef Finance and $4 million toward Coin98 Finance.

As a decentralized exchange, dTrade allows for the trading of perpetual swaps and options with on-chain settlement. In theory, the platform can accommodate unlimited derivatives markets without custodial and counterparty risks. The trading platform is not available to United States-based traders.

“Derivatives are on track to become the largest market in decentralized finance, similar to how they are the largest asset class in traditional finance,” said Nikodem Grzesiak, co-founder of dTrade. “Derivatives are an exciting use case of blockchain. Entirely new perpetual swaps for blockchain-based assets within Polkadot’s multi-chain architecture can be added through a simple governance proposal.”

The popularity of crypto derivatives has exploded over the past year as participants seek additional exposure to the rapidly growing market. CoinMarketCap’s 2020 annual report found that crypto derivatives accounted for 55% of the total cryptocurrency market last year.

Polkadot’s developer network has also grown rapidly, with 435 projects having launched on the platform at the time of publication.

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Source: https://cointelegraph.com/news/polkadot-centric-derivatives-exchange-raises-6-4m-in-seed-funding

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