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$DOT x $ICX interoperability is coming...- One of the first Multichain-DEXes out there and expanding rapidly with many more chains on the horizon. - Polkadot integration next, that will likely be launched as soon as $DOT itself is ready, making $ZERO the first #QUADDEX Blockchain Transmission Protocol (BTP) Architecture, Economics, and Key Differentiators We are excited to share the latest technology advancements and details around the Blockchain Transmission Protocol (BTP), ICON’s interoperability solution, with our community. This post covers the technical architecture, economic structure and key differentiators of BTP. Polkadot parachains will be used as an example throughout the post. Components: Relay (BMR) — passes messages between Message Centers Message Center Contract (BMC) — Aggregates all BTP messages on a given network Verifier Contract (BMV) — verifies the messages sent to the Message Center by Relays Service Contract (BSH) — Holds application-specific logic (i.e. token transfer between networks vs NFT transfer between networks) Information Flow: The above diagram may be difficult to understand so here is an attempted simplification of Bob sending 100 ICX between two networks. Bob sends 100 ICX to the Service Contract on ICON (BSH) A small fee (1 ICX for this example) gets deducted from the 100 ICX and sent to the Fee Aggregation contract The Service Contract locks the 99 ICX and sends a message to the Message Center on ICON (BMC) The Relay (BMR) reads the message in the Message Center containing information that 99 ICX was locked in the Service Contract The Relay sends the message to the Message Center on the parachain The Message Center sends the message to the Verifier Contract (BMV) on the parachain The Verifier contract either approves or rejects the message Assuming the message is approved by the Verifier contract, the BMC will forward the approved message to the Service Contract on the parachain. The Service Contract will mint 99 parachain-based wrapped ICX and send to Bob’s parachain wallet BTP security relies entirely on smart contracts. It’s a set of 3 types of smart contracts on each connected network, with a Relay passing information between them. The security of the relayed information is therefore as secure as the two connected blockchains. The key security checkpoint of BTP is the Verifier Contract (BMV). It verifies the signatures of validators and the consensus process of the source blockchain. In simple terms, the Verifier is able to verify, using cryptography, the validity of all data coming in from Relays. If a Relay lies (i.e. tries to steal coins), the Verifier won’t let it happen — the transaction will fail. BTP Relays do not need to be trusted, ICON only needs to ensure liveness (BTP Network should always be online). Our plan is to launch with a centralized Relay set run by ICON to get an idea of costs and test the software. From there we will decentralize ownership of Relays using a Proof of Stake method detailed in the economics section. Economics This is where it gets even more exciting for ICX holders. Other interoperability solutions hardly focus on this, and if they do, the economic value is only for large token holders. After a significant amount of internal discussion, we believe we’ve found an excellent solution to tie BTP activity directly to value for all ICX holders. When somebody transfers tokens through BTP, there will be a 0.20% fee charged to the user and sent to the Fee Aggregation contract. There will also be a minimum fee to block spamming of small transactions. All fees will be aggregated into a smart contract and auctioned off to ICX holders. For other types of services besides transferring tokens (e.g. NFT transfer where a 0.20% fee can’t work), the Service Contract developer may use their own fee system. More details on how to develop your own service will be provided as BTP governance processes are ironed out. It will likely be an off-chain IIP process. The end result of this process is discounted token purchases for ICX holders. For example, let’s say the Fee Aggregation contract holds 1 ETH from fees, and on the market it’s 900 ICX for 1 ETH. ICX holders can start placing bids for that 1 ETH, and maybe the winning bid will be 800 ICX for the 1 ETH. This creates value for ICX, as it will be a token used to purchase other tokens at a discount. And this will be for all assets connected to ICON through BTP. The ICX proceeds earned from auctioning off fees will be sent to the CPS to be reinvested into the network. When the CPS hits its cap, additional contributions get burned. So BTP will either be adding resources to ICON growth initiatives or burning ICX. Sticking with the previous example, the 800 ICX winning bid for the 1 ETH would be sent to the CPS. If the CPS was already at its cap, then the 800 ICX would be burned. See below diagram for a better understanding of the architecture. Relays ICX holders may pre-register a Relay with a minimum stake of 25,000 ICX. The 25,000 ICX will be staked + delegated to avoid opportunity cost. The 25,000 ICX must be held and staked by the Relay, it’s not a DPoS system like P-Reps. The reward for running a Relay will come from inflation and the amount will be decided in the IISS 3.1 economics vote. Relays will be penalized from their staked ICX if they are not live when called upon to relay a message, so those that pre-register should be aware of this risk and pay close attention to BTP announcements to avoid loss of ICX. More details about how to pre-register a Relay will be released closer to ICON 2.0 launch. Key Differentiators BTP is unique amongst existing interoperability solutions. Most solutions require some sort of game theory, slashing/penalties for validators, PBFT consensus, critical off-chain components or centralization. The Verifier contract is the key differentiator of BTP. As mentioned earlier, other interoperability solutions rely on trusting the Relays or some sort of game theory, but BTP is secured entirely through cryptography. BTP is as secure with 1 Relay as it would be with 100 Relays. Extra Relays simply ensure more reliability and liveliness. Additionally, BTP’s out-of-the-box infrastructure combined with a generalized architecture opens the door for simple integration by any 3rd party developer exploring unique use cases. Individual 3rd party developers do not need their own Relay networks, as the ICON Network provides that infrastructure and covers the costs. Developers simply need to build their own Service Contract (generalized architecture) to meet their needs, submit a Pull Request to get their Service Contract approved, then it will be serviced by ICON’s Relay Network and secured by BTP smart contracts. And lastly, any network added to the BTP ecosystem becomes directly connected to all other networks in the ecosystem. There is no need to build bridges between all networks. Through inclusion in the BTP ecosystem, all chains are directly connected with one another. We look forward to sharing more details on BTP Ecosystem growth. Stay tuned for future announcements as we continue our path to hyperconnect the world. Thank you, The ICON Team
BINANCE:DOTUSDLong
by UnknownUnicorn19246015
DOT/USDT now 24% up without leverage congrats guys#DOT/USDT Profit Update:- $DOT currently trading at $44 And I told you to enter two zone and both filled. Entry:- $36-$38 ✅ Now 24% up from our entry zone. Hope you enjoyed the ride. Now Stop Loss time. SL:- Put stop loss at your entry. And also Safe trader can book profit. Support: $39/$36/$33 Resistance:- No resistance Please click LIKE button and Appreciate my hard work. Must follow me for latest crypto real time updates. Thank you.
Long
by CryptoPatel
9
DOT, Polkadot - superpotential👑A coin with very good potential. More than 40 days DOT accumulates volume. I see the entry point only after the retest. I don't exclude the continuation of the movement in the range. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
35
Polkadot (DOT) - April 1Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also ask for the "Like" clock. Have a nice day. ---------------------------------- We have to see if we can get support and ascend at 37.03386624. If it falls, you need to make sure you get support at 33.86828748-34.95353422. If you fall in the 33.86828748-34.95353422 section, you will need a short stop loss. However, it may rise along the uptrend line, so careful trading is necessary. In the CCI-RC indicator, it remains to be seen whether the CCI line can break above the EMA line. ---------------------------------------- (DOTBTC 1D chart) We have to see if we can get support at 0.00061311 and climb above 0.00068173. If it falls in the range of 0.00055736-0.00058041, Stop Loss is required to preserve profit and loss. If the price is maintained above the 0.00061311 point, it is expected to continue the upward trend. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, you need to be aware that the indicator moves accordingly with the movement of price and volume. Just for convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Hence, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2)
BINANCE:DOTUSD
by readCrypto
1
DOT recovery becomes an uphill battle while overhead pressure mo Polkadot hits a snag under $35, abandoning the upswing to highs past $40. DOT seeks support at the 50 SMA on the 4-hour chart while trying to avert declines under $30. Polkadot had staged an impressive recovery on Monday, extending the bullish leg from the recently formed support at $27. The token hit highs above $30 and pushed for gains beyond $35. However, bulls lost steam within a whisker of a confluence resistance created by the 100 Simple Moving Average (SMA) and the 200 SMA on the 4-hour chart. The mission to achieve a new record high beyond $40 seems to be a pipedream at the time of writing due to increased resistance beneath the confluence level. DOT seeks higher support at the 50 Simple Moving Average (SMA). If this immediate anchor fails to hold, we can expect DOT to tumble further and perhaps retest $30. The Moving Average Convergence Divergence (MACD) indicator had flipped massively bullish from last week. However, the indicator’s upward momentum has dramatically reduced. At the time of writing, the MACD line prints a horizontal trend, implying that the slightest resistance path is sideways. On the other hand, traders should be on the lookout for the MACD’s return into the positive region. Besides, if the MACD line (blue) crosses under the signal line, massive sell orders are likely triggered. Another dip below $30 may not stop at $27 but could extend the bearish leg beneath $20. On the upside, holding the support at the 50 SMA on the 4-hour chart will ensure market stability. Bulls will then have the time to focus on rebuilding the uptrend toward $40. Another bullish signal would be settling above the confluence resistance at $35. Polkadot intraday levels Spot rate: $33.6 Trend: Bearish Volatility: Low Support: 50 SMA on the 4-hour chart, $30 and $27 Resistance: $35 and $40
BITFINEX:DOTUSDShort
by CoinGape
Dot Going to the Moon 🔥🔥🌔As I said in the Bitex group on March 7, Dot had the potential to break the triangle and start a good uptrend and there was strong support for it and as expected the triangle broke up. Also, we have already given a buy signal at 29.5 to 32 at the peak of Bitcoin heavy correction, because we can and we do it 🔥 Now I expect that we will finally have a correction to $ 37 to $ 35 and after that Dot will start to move up to the $ 42 break, and at the same time BTC reach the level of $ 60 to $ 63,000. We will see what happens. February 24 analysis (BTC 45k): March 7 Analysis:
Long
by imanpajand
12
Polkadot (DOT) - March 26Hello? Dear traders, nice to meet you. By "following" you can always get new information quickly. Please also click "Like". Have a good day. -------------------------------------------------- ----- We need to see if it can rise along the uptrend line (1). If it falls between 27.211-30.122, a Stop Loss is required to preserve profit and loss. The next volatility period is around March 30th. -------------------------------------- (DOTBTC 1D chart) We have to see if we can get support and climb at the 0.00058041 point. If it falls in the range of 0.00045493-0.00048733, Stop Loss is required to preserve profit and loss. The next volatility period is around March 31st. (1W chart) The important interval is the interval 0.00045493-0.00048733. -------------------------------------------------- ------------------------------------------- ** All indicators are lagging indicators. So, it's important to be aware that the indicator moves accordingly with the movement of price and volume. Just for the sake of convenience, we are talking upside down for interpretation of the indicators. ** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.) ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop Loss point or section S: A point or segment that can be bought for profit generation as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day. G1: Closing price when closed G2: Cigar at the time of opening (Example) Gap (G1-G2)
by readCrypto
Polkadot (DOTUSDT) LongDOTUSDT consolidating near entry. A strong close above $37.3 will start the pump. DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.
Long
by cryptotraderog
9