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TON and Alibaba Cloud Join Forces to Break Guinness World Records

Telegram’s ally, the Open Network (TON) Foundation, is teaming up with Alibaba Cloud to launch 256 servers for a special performance test on October 31, 2023. The main goal of this test? They’re aiming to make TON blockchain the undisputed speed champion and get it recognized by the Guinness World Records. Yahoo Finance shared that TON’s popularity has skyrocketed since 2022. Its user addresses multiplied from 170,000 to a whopping 3.5 million! Additionally, the network is now more spread out, boasting 350 validator nodes across 25 countries. And amidst all this growth? Not a single major hiccup in its operations. This upcoming test is more than just a tech showcase for both collaborators. It’s about showing off the potential of the TON blockchain, which is pivotal for Telegram’s Web3 universe. Anatoly Makosov, the main

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moneylinksme

1 year ago

El Salvador’s Bitcoin Adoption Starts To Pay Off, Profits Exceed $3.6 Million

Share this article El Salvador, the first country to adopt Bitcoin as legal tender, reports profits from its investment in the cryptocurrency. El Salvador president, Nayib Bukele, announced on Monday that his country had profited more than $3.6 million from its bitcoin investment, the cryptocurrency it adopted as legal tender last September. Bukele said that his government had bought 550…

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moneylinksme

1 year ago

Decentralized Exchanges (DEXs) and OTX: Empowering the Future of Crypto Trading

The financial world takes notice when topics make their way into esteemed publications like Fortune or the Wall Street Journal. Recently, the spotlight has turned toward decentralized cryptocurrency exchanges, or DEXs, garnering attention for their promise to empower users and investors with greater control over their crypto assets.

The media’s interest is not without merit. According to researchers at Messari, the surge in popularity of DEXs was evident during the record-breaking bull market in April 2021, with these platforms handling a staggering $122 billion in transactions — a monumental leap from the $1 billion recorded in April 2020.

Further insights from DEX Metrics reveal that, as of July 2021, decentralized exchanges like Uniswap, PancakeSwap, and Binance DEX collectively manage around $15 billion in transactions every week. While this constitutes less than 10% of the overall crypto transaction volume, the rapid growth and increasing market acceptance of DEX technology are undeniably impressive. The numbers speak for themselves, and it’s no surprise that DEXs have become a prominent topic of discussion across various financial circles.

DEXs have taken center stage, providing a groundbreaking alternative to traditional centralized platforms. These platforms are characterized by trustless transactions and the empowerment of individual users, who retain control of their funds. One prominent player in the DEX arena is OTX Exchange. In this article, we will explore the concept of DEXs, their uses, and how they can benefit you in building a robust crypto portfolio.

The Rise of DEXs

Decentralized Exchanges, or DEXs, are a fundamental innovation in cryptocurrencies. Unlike traditional centralized exchanges operated by a central authority, DEXs facilitate peer-to-peer trading directly on the blockchain. This means that users retain control of their funds and trade without intermediaries' allows users to trade now from their wallets, eliminating the need to entrust a third party with their funds. This decentralized model enhances security and aligns with the core principles of cryptocurrencies, decentralization, and financial sovereignty.

They rely on smart contracts and blockchain technology to enable users to trade digital assets directly with one another. This differs significantly from centralized exchanges (CEXs), which are managed by a centralized authority and often require users to trust them with their funds.

The core advantages of DEXs include enhanced security, reduced counterparty risk, and the ability to trade a wide range of cryptocurrencies. Furthermore, they offer greater privacy, as users do not need to go through the KYC (Know Your Customer) process typically demanded by centralized exchanges.

How a Transaction Unfolds on the OTX Decentralized Exchange?

When engaging with a traditional cryptocurrency exchange, the process typically involves creating an account, adhering to Know Your Customer (KYC) requirements, depositing funds, and executing transactions, whether for a quick buy or to build a long-term portfolio.

Enter the decentralized world of OTX exchange, where the user experience takes a distinctive turn. Instead of creating an account and going through KYC processes, users link their cryptocurrency wallet directly to the DEX’s software. Whether you’re looking to purchase or swap crypto assets, the interaction is streamlined. You specify your preferences, receive the price details, and, upon approval, greenlight the transaction — all without logging in, providing personal information, or creating an account.

Unlike centralized exchanges that match users with individual sellers, OTX employs automated market makers (AMMs) to facilitate transactions. These AMMs offer coins and tokens from a liquidity pool — a reservoir of cryptocurrency provided by other users for a specified period. You buy from a liquidity pool when you engage in a transaction on the OTX decentralized exchange.

What sets OTX apart is the opportunity for users to contribute to liquidity pools by lending their funds. Users can make their crypto assets available for defined periods, whether a week, a month or another specified timeframe. After this period, contributors receive their funds back along with a share of the transaction fees generated by the liquidity pool, resembling an arrangement akin to buying a government bond.

For users seeking a more nuanced approach, sophisticated DEXs like OTX offer extensive control over participation in liquidity pools. This includes options such as making tokens available within specific price ranges. Savvy traders often leverage these customization features to optimize strategies and enhance potential profits in the decentralized marketplace.

Conclusion

The future of crypto trading will likely witness the ongoing rise of DEXs, which will work alongside traditional centralized exchanges to provide diversified options for traders. OTX Exchange, with its commitment to user control, security, liquidity, and privacy, stands as a promising platform at the forefront of this transformation.

In conclusion, decentralized exchanges are becoming increasingly essential as cryptocurrency trading evolves. OTX Exchange exemplifies the values and advantages of DEXs, offering a secure, user-friendly, and efficient trading experience. As the crypto industry grows, platforms like OTX Exchange will play an integral role in shaping its future.

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moneylinksme

1 year ago

A Brief Look At Each Of The Top 30 Cryptocurrencies 2023.

Here’s an overview of the top 30 cryptocurrencies along with a brief description of each one, listing by market capitalization, utility, and popularity. Please verify the latest rankings and information, as the cryptocurrency market is dynamic.