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What Is an Off-Chain Transaction?
An off-chain transaction differs from an on-chain one because it occurs outside of the main blockchain network. It's a solution to the delays and costs associated with on-chain transactions.
Take cryptocurrencies like Litecoin, Ethereum, and Dogecoin, for example. While each has its unique features, they all share the decentralized nature of Bitcoin. They use a network of nodes to validate transactions, enabling users to send money globally, regardless of location.
To address the limitations of on-chain transactions, people turned to off-chain solutions. These second-layer protocols operate outside the primary blockchain, offering faster and cheaper transactions.
The second layer involves projects and protocols built on top of the base blockchain to enhance technology and user experience. When users find shortcomings in a public blockchain, they turn to these solutions for improvements.
Off-chain transactions can be as simple as two parties agreeing on a debt between them. Unlike on-chain transactions, these off-chain deals don't touch the blockchain, allowing for instant execution and minimal fees.
Users can set up channels for off-chain fund transfers, exchanging private keys with their wallets. They can conduct multiple transactions until ready to settle, at which point they record the final value on-chain.
Popular off-chain protocols like the Lightning Network and Liquid Network offer solutions to blockchain scalability issues, ensuring quick and inexpensive transactions. However, they come with limitations, such as the need to lock up Bitcoin in the Liquid Network and finite capacity in payment channels.
Off-chain transactions excel in speed, cost-effectiveness, and privacy. They're ideal for those seeking quick, cheap, and discreet transactions.
#BTC.D UPDATE :
#BTC.D (#Bitcoin Dominance) didn't moved alot but Altcoins got strong dips with the #BTC crashes but Dominance remains nearly the same as it was. This shows strong sustainability as soon as #BTC recovers, alts will start the rally again. Also, Index floating below the resistance is a good sign of that.
#FOMC remain the Interest Rates Same as of now...
#BTC is pumping due to this
What Is an Off-Chain Governance?
In a decentralized governance network, stakeholders vie for influence through various collaborative efforts. This includes engagements across social media, online forums, conferences, and other gatherings, forming the bedrock of off-chain governance practices within public blockchains.
Much like traditional politics, off-chain governance mirrors a complex interplay of interests, with different factions striving to sway support towards their agendas. Unlike on-chain systems, there are no hardcoded rules dictating actions; rather, decisions are guided by the perceived interests of stakeholders in relation to others.
Prominent public blockchains like Bitcoin and Ethereum predominantly rely on off-chain governance mechanisms. Proposed changes undergo extensive deliberations online, involving key players such as core development teams, developers, miners, researchers, and the broader user community. While anyone can participate in these discussions, there's no formal on-chain voting mechanism.
Despite the significant hash power wielded by large mining pools, it doesn't translate into governance rights within Bitcoin. Miners' sole function is to validate transactions, with no direct influence on protocol decisions.
Ethereum follows a similar governance model, with Vitalik Buterin leading the core development team. Discussions surrounding protocol upgrades follow formal channels such as Bitcoin Improvement Proposals (BIPs) and Ethereum Improvement Proposals (EIPs), with stakeholders signaling their support or dissent through various channels.
In cases of disagreement, stakeholders can either persuade others to their viewpoint or opt for a hard fork, allowing them to maintain or alter protocol aspects they deem crucial. While off-chain governance endeavors to accommodate diverse interests, decision-making power tends to gravitate towards core developers and miners due to the lack of binding agreements.
#TOTAL2 (Altcoin Marketcap Update) :
#TOTAL2 sell-off lower from the resistance and might gonna approach towards the support zone of $940B - $956B. There's strong buying opportunity for the accumulation/ buying the dip. There can be some manipulations before a reversal, so stand strong.
#BTC gave a break and close below of the support zone of and made a retest too. Market is dumping heavily and expected to reach the support zone around $58,200 - $59,550. Market was strongly correcting itself, so don't fear and watch it out.
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What Is Odysee?
It is a website that enables the uploading and sharing of videos, allowing its users to publish their work without the need for paying hosting fees. It is also decentralized and censorship-resistant, meaning that there are no servers to shut down or block.
Through the Odysee app, you can create your own channel, upload your videos to be shared with the world, and subscribe to other channels you enjoy. As a viewer, you can explore content from around the world through channels and hashtags.
Odysee offers a safe home for your videos. But what does that mean in practice? Here are the three pillars of the Odysee platform:
Decentralization means that your videos are hosted all over the world. There is no single point of failure, and no one can take your videos offline. In this way, Odysee is similar to blockchain-based services like LBRY and Bitcoin (where transactions are stored in blocks across a network of computers).
A permanent home for videos is important because many video hosting platforms today have taken down videos for dubious reasons. Odysee ensures that your content will always be available because it would require an enormous amount of computing power to remove the files from numerous computers around the world.
The ability to earn money with your videos is one of the most exciting features of Odysee. By using LBRY credits, you can reward people who view your content directly by tipping them or offering subscriptions. You can also earn tips on other people's content by "liking" or commenting.
Relation Between Odysee and LBRY Network
Odysee is created by the team behind LBRY Network or LBRY Blockchain. Earlier, it used to be lbry[dot]tv
LBRY TV is a media platform that allows creators to set their own price, keep their own ad revenue, and now — host their content. Creators can either choose to host their content on the platform or simply link out to their own website. The platform has the potential to be a major player in creating an independent creator economy without the need for advertisers (or middleman platforms) to generate revenue.
The company believes that its new hosting service will not only help creators generate more income but also protect them from censorship as it’s harder for platforms such as YouTube to ban creators when they’re not hosting the content on their platform.
It sees itself as a community-driven, decentralized Netflix and plans on being home to some of the most popular movies, shows, and documentaries on the internet.
LBRY Network is a blockchain-based, open-source protocol for the creation, distribution, and discovery of digital content. With LBRY, you can buy, rent, or sample videos from major studios, indies, and even YouTube creators!
🔵 The percent drawdown of LTH Supply from its peak.
🔴 The percent uptick of STH supply from its cycle low.
At previous bull market peaks, LTH supply had declined by between -14%, and up to -25%, suggesting a relative degree of distribution pressure each cycle. Conversely, STH Supply tends to reach a maximum around the cycle top, increasing by more than 83% from its cycle low.
If we make the overly-simplistic, ballpark-grade assumption that these drawdown/uptick magnitudes reflect a point of supply/demand inflection at cycle peaks, it would indicate that the current market has experienced around 30% of the typical distribution cycle.
#BTC sold off from the minor resistance are and send back to the support zone again. Also, #BTC is kept on hodling the support zone, which is good. Now, we have to watch out the closing, as well and if we break below the support just wait and relax till the next support zone.
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#AGIX made a bounce from the support zone as expected and made a high of $1.249 which is 22.3% in profits. Secure some right here and hodl the rest. Of course we didn't moved lower for more buys, we can go with the potential scale-in on the retest.
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#BTC dipped down exactly as predicted and made a strong bounce from it. Price Right Now, struggling from there to break out of the resistance area of $69,600 - $70,000. IF we look into weekly closing, weekly candle made a retest back to the support and large wick which shows strong rejection. Hopefully, we can expect to see a #ATH break too.
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What Is Nonce Error?
A nonce error occurs when a nonce - a number used only once - is misused or mishandled in a system.
Nonces are commonly used in cryptography, network security and web applications to prevent replay attacks, where an attacker intercepts and maliciously retransmits data. When they are generated or used improperly, they fail to serve their purpose by creating vulnerabilities.
Nonce errors enable attackers to bypass authentication systems, tamper with data integrity and impersonate legitimate users. They are serious flaws that jeopardize security and trust in technologies and applications. As systems become increasingly interconnected and interdependent, nonce errors can have cascading consequences that impact many users and services.
Types of Nonce Errors
Nonce Reuse: A nonce is accidentally used twice, allowing replay attacks. This is a common error and can have severe impacts.
Predictable Nonces: Nonces are generated in a predictable manner, enabling attackers to guess future nonces and launch replay attacks.
Expired Nonce: Time-based nonces expire before use due to synchronization issues, rendering them useless.
Nonce Generation Flaws: Errors in the algorithms or code used to produce nonces result in nonces with low entropy and randomness, allowing attackers to guess them.
With dependence on technologies growing rapidly, the impact of such errors is magnified, making security an increasingly pressing concern.
Not sure what nonce is and why (or where) is it used. Let’s touch on some basics before diving deeper into the topic!
#DXY UPDATE :
#DXY made a clear rejection and bounced from the support. Market got it impact with that, market getting it correction now. Well, Index is at resistance and might continue fall, which will backup the price. Monday market open will decide the next week move.
Here's the Analysis of #AGIX :
#AGIX is been going within the corrective move and dropping hard now. Price reached the support zone of $0.97 - $1.02. Looks like a buy scenario is forming but there're two zone so you can split the risk. The next support zone of $0.79 - $0.82, where you can look for a split.
#FIDA in #BTC pairs also did well, and made high 1049 Satoshi which is 65% in profits. I hope you books some right there.
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So, let's connect the dots between increased capital coming in and its impact on both the realized capital and, more notably, the Realized Profit metric. This week, we saw the Realized Profit metric spike significantly, surpassing its long-term average by more than one standard deviation due to high levels of on-chain spending.
These developments closely resemble the conditions observed at the onset of previous 'Euphoria' phases, akin to the bull markets of 2017 and 2021.
#Bitcoin reverse off from the itty bity support zone and the major move came with the #FOMC news and Statements. Price now break and close above the zone, shows strong buying pressure and sustaining above it. Now, we can expected the continuation from here but the only problem is the minor resistances, so if you bought the dip then just hodl and watch.
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Here's the Analysis of #MASK :
#MASK is been strongly rejected from the Major Resistance Zone of $5.25 - $5.34 and reached the other end of the market at Strong Support Zone around $4.11 - $4.18. Well, market looks pretty scary Right now, so a close below candle will lead the any short drop in #MASK, so take it accordingly.
The RHODL Ratio is another popular metric for tracking this transfer of wealth from old HODLers to new investors and Speculators. It is constructed as the ratio between wealth stored within in 1-week old vs 1y-2y old coins.
The chart below has highlighted in 🔵 where the RHODL Ratio crosses above its current value of 6.3k. We can see that this indicator is in a very similar position to all prior ATH breaks, suggesting the transfer of wealth is firmly in line with historical precedents.
Binance Will Delist DREP, MOB, PNT on 2024-04-03
https://www.binance.com/en/support/announcement/1e531578a30c46eebf52c8dae3c56092
Here's the Analysis of #AEVO :
#AEVO recently got listed in #Binance and there's not much more data available to analyze and in #LTF price creating lower lows with the market dump and currently price testing the Resistance zone of $2.26 - $2.28 and might got a rejected or break too but levels are still undefined. Its a no trade zone, so better wait for quality opportunities.
#AGIX trying to break below the support zone and market is dumping too. Price making it way lower, so i hope you booked the profits, and now its time for shorting for a short scalp till support zone of $0.79 - $0.82.
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Here's the Analysis of #ZIL :
#ZIL is been rejected from the Strong Resistance Zone of $0.0415 and started making lower lows. Currently, price is middle of no where and might get a bounce from the Trendline. So, as of now nothing can be done here, so wait for the price to form up a support and take the opportunities from there itself.
Here's the Analysis of #SEI :
#SEI traded near its #ATH and drop with the market correction. Price rejected strong from the reversal trendline and formed a Inverse Head and Shoulder pattern, which is a reversal pattern, so this can be deep retest back to the supports and expect a push from here.
STH Supply has increased by +810k BTC over that same period, absorbing coins from two regions:
660K BTC transferred from Long-Term Holders.
150K BTC withdrawn from Exchange Balances we monitor.
Overall, this transfer of wealth appears to be following a very similar path to all prior Bitcoin cycles, and represents both a shifting ownership structure, but also the dynamic balance between supply, demand, and price.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN did gave the clean break to the upside and now the verge of the retest back to the support zone of $65,500 - $66,300. Now, today is the weekly closing as well, and needs to hodl above the zone too. The Next Upper move is expected very sooner by the next week and always remember, correction is always good if its came more.
What Is a Nonce in Blockchain?
Nonce (literal meaning — for one occasion) is a way to sequence and segregate transactions on the Ethereum blockchain and other smart contract platforms. Generally, it is used in cryptography as a non-repeated number for securing communication.
An Ethereum wallet can broadcast multiple transactions from an account, without much delay between one another, to the mainnet. Hence, it is necessary to have a mechanism which can determine which transaction is processed first. Otherwise, there would be malfunctions caused by conflicting transactions associated with account balance transfers.
For example, if a broadcasted transaction has a nonce value of 2, it must be processed first before the transaction with nonce value of 3. The Ethereum mainnet is designed in such a manner that a higher-nonce-value transaction couldn’t be included in any blocks until the ones before them are cleared and settled on-chain.
However, this process can have issues since if a transaction with a lower nonce value is stuck (owing to the gas amount), all transactions received afterwards with nonce values higher would also be stuck.
The process of transaction cancellation and transaction speeding on the Ethereum network also uses “nonce” as its basis. For instance, if a user wishes to cancel a transaction, he can send a transaction to his own wallet with the same nonce number as the transaction he is attempting to cancel. It’s not always guaranteed, though, since if the nonce is the same, any transaction might get randomly approved.
In case a transaction is stuck and does not get approved, users can raise the gas price and send the same transaction with the same nonce number. Since the nonce number is the same while the fee has been bumped, this transaction has a higher probability of being validated. Some wallets have both of these functions automated.
#FIDA made its way to the last and final target and made a high $0.73 which is 123% in profits
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