Re: [ANN] Bridgoro Exchange - Participate in Beta Test and Earn up to 350 USDT
I spent some time reading ---> https://bridgoro.gitbook.io/bridgoro-docs/system-architecture/how-do-buffer-wallets-work
There's a general explanation of how the system works, but there's no explanation of how Buffer Wallets work.
For example, here's one explanation:
The last time I heard of something similar, it was Mixin Safe: A Convenient and Decentralized Multisig + MPC + Timelock solution Which was hacked
for more read ----> https://mixin.network/923/
There's a general explanation of how the system works, but there's no explanation of how Buffer Wallets work.
For example, here's one explanation:
Quote
At the protocol level, the escrow continuously monitors the blockchain for required confirmations and conditional triggers.
So, at the protocol level, how can an XMR wallet and ETH communicate? Or will the Buffer Wallet code be open source, so we can see what's going on?The last time I heard of something similar, it was Mixin Safe: A Convenient and Decentralized Multisig + MPC + Timelock solution Which was hacked
for more read ----> https://mixin.network/923/
Quote
The primary cause of the incident was the hacker's penetration into the Google Cloud Services relied upon by Mixin for withdrawals, exploiting a software vulnerability to construct a large number of unauthorized withdrawal requests.
I would like to clarify an important point before this goes too far.
First of all, this isn't a protocol. Building a full-fledged protocol would take more than a year, and that's not what we are doing right now. It was my mistake to write "protocol" in the GitBook docs, not a typo, but more of a semantic error due to crunch time. I've already corrected it, and now it reads:
Quote
"At the backend level, the escrow system continuously monitors the blockchain for required confirmations and conditional triggers."
As we've said before, the detailed Whitepaper will be published after the Beta Test ends.
We can't release it yet because we need to carefully check for sensitive information that could expose users to risks.
The Whitepaper will definitely be available for everyone before the final launch when all blockchains go live on the mainnet.
Regarding your question about XMR and ETH:
These cryptocurrencies don't interact at the protocol level but through backend services.
You will find full details in the Whitepaper later on.
About the news of a hack in another project: our architecture is very different from Mixin Safe.
And to be honest, there's no such thing as 100% security.
Even the largest exchanges with multi-million-dollar security budgets get hacked sometimes.
That's why:
- We never store user funds on our side.
- Funds only stay temporarily in buffer wallets during exchanges.
- We will also limit maximum one-time exchanges, so even in the worst-case scenario, the loss would be small, and we could cover it ourselves.
Thanks for raising this point.
I hope this clears things up.
Bridgoro I still can't access and login to my account because of User not assigned error.
I have some testnet bitcoin and I wanted to continue testing but this is mission impossible.
Should I try creating yet another account or what?
We are sorry to hear about this issue.I have some testnet bitcoin and I wanted to continue testing but this is mission impossible.
Should I try creating yet another account or what?
The reason you are seeing the "User not assigned" error is that your account wasn't fully verified in the system.
This likely happened if you tried to register while the server was undergoing a maintenance update, and your browser cached the incomplete process.
Please try the following steps:
1. Clear your browser cache.
2. Register again using the same email.
3. Enter the 6-digit code on the Confirm Registration popup.
4. Log in again.
Let us know if these steps solve the problem.
This is surprising since you're the only person still complaining about this. I believe login issues have been fixed by the team. It shouldn't be a browser issue since the platform is now working reasonably well on all browsers I've checked with. Try clearing your cache and trying again. Anyway, let's hear from the OP first. They're doing a great job of addressing issues.
Thank you for testing and reporting this bug.Such login issues may occur with previously created accounts if the browser cache hasn't been cleared.
So even with $100 in BTC, the 260 sat is under the on-chain dust limit. And if it would reach the 294 sat limit, the dust is almost worthless for you to spend.
Suggestion: don't charge the service fee on small transactions.
So, after discussing it with my teammate, we decided to introduce fee-free exchanges for small amounts. The exact threshold for what counts as a "small amount" will be determined once we finish analyzing Dust Transactions and Dead Wallet amounts.Suggestion: don't charge the service fee on small transactions.
Yeah, the work is ongoing in parallel with fixing the current incoming bug reports.
Now here's a tricky question I'd like to hear your thoughts on:
What if we made all exchanges completely fee-free, regardless of the amount, meaning our exchange wouldn't take anything from users?
The challenge, of course, is monetization.
We would still need to cover server costs and sustain our own work.
As you know, projects built purely on enthusiasm are hard to support long-term without a funding model.
So what do you think: Should we aim for 100% fee-free exchanges by finding a sustainable way to monetize without relying on a service fee?
Or would it be smarter to balance sustainability with user comfort by introducing a service fee to cover infrastructure and ongoing costs?