2.What is the difference between the withdrawal fee and the on-chain transaction cost? Everyone may be confused about this. In this case, the only difference between the withdrawal fee and the on-chain transaction cost is that the user hands the withdrawal fee to the exchange, then the exchange gives this withdrawal fee to the miners as an on-chain transaction cost, isn't it? Actually, the difference is more than that. The exchange does not just do a simple transfer of these fees.
Taking Bitcoin as an example, when a user initiates a transfer on the Bitcoin network, usually the user needs to pay a certain transfer fee to the miner. The transfer fee is generally 0.0001 to 0.0015 BTC, but because the capacity of the block to accommodate the transaction record is limited, the miner preferentially packages transactions with high fees, so transactions with high fees can be confirmed faster. Especially in the case of block congestion, higher fees can greatly increase the probability of transaction being confirmed. Then the evaluation work falls to the exchange. The exchange can evaluate the network congestion of the blockchain network, and then pay the appropriate amount of processing fees to ensure that the users' withdrawals get packaged and confirmed as soon as possible. When the block is abnormally congested, it may be necessary to pay a fee several times higher than usual to ensure that the transaction is packaged and confirmed.
Therefore, the exchange eliminates the task of evaluating the status of the block for users, and users only needs to perform a few simple steps to complete withdraw, and the remaining complicated work can be left to the exchange.
Thanks for sharing. The problem of withdrawal fee and the on-chain transaction cost has been bothering me for a long time, and I understand a little bit after reading this
Of course. At present, ByteTrade has completed anchoring with most mainstream blockchains, such as Bitcoin, Ethereum, EOS, Ripple, Litecoin, Stella, etc.
Different blockchains use different technologies, so ByteTrade needs to use different anchoring strategies when anchoring cross-chain assets
How about ERC-20 token?
We also provide services to create ERC20 tokens
Oh,good. Do you have any demo?
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Topic
BoardGambling
Re: 🎲ByteDice - The truly fair and transparent blockchain gambling game🎲
by
Jack ju
on 25/05/2020, 11:31:30 UTC
I think Dice is a fair and simple blockchain gambling game. I do n’t need to think about any strategy, just choose a digital bet, but the bad thing is that some platforms will do tricks and make the result less so fair
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Topic
BoardService Announcements
Re: How ByteBulls White Label Cryptocurrency Exchange Help You Make Money?
For exchanges, the pricing of the transaction fee is directly related to their income. The trading fee should be set according to your actual situation. If you plan to open your own exchange, ByteBulls will customize the plan for you according to your needs.
What about market making?
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Topic
BoardService Announcements
Re: Market-leading Features Strengthen Bytebulls White Label Crypto Exchange
by
Jack ju
on 21/05/2020, 05:53:12 UTC
how about speed of matching buy and sell orders?
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Topic
BoardService Announcements
Re: How ByteBulls White Label Cryptocurrency Exchange Help You Make Money?
Yes, ByteBulls crypto exchange solution not only provides you a One-stop White Label Solution, but also have a professional quantitative team, which can provide liquidity support services, including Automatic market-making, Mirror market-making, and hedging transactions.
sounds good~do you have a demo?
Post
Topic
BoardService Announcements
Re: Market-leading Features Strengthen Bytebulls White Label Crypto Exchange
Of course. At present, ByteTrade has completed anchoring with most mainstream blockchains, such as Bitcoin, Ethereum, EOS, Ripple, Litecoin, Stella, etc.
Different blockchains use different technologies, so ByteTrade needs to use different anchoring strategies when anchoring cross-chain assets
We are looking for decentralized exchange and wallet, do you have a decentralized exchange solution？
Of course, we can provide a decentralized exchange solution for you with Perfect function
oh, good, do you have any demo? and how's the price?
Have a look at our case study: ByteTrade Decentralized Exchange Website：https://www.byte-trade.com/ ByteTrade is a decentralized exchange that supports cross-chain mechanism. It has almost the same trading speed and experience as a centralized exchange. This is the only DEX project in the world that can do this. At the same time, ByteTrade has hundreds of thousands of cryptocurrency users worldwide.
As mentioned above, The price discovery mechanism determines the liquidity of the exchange market. ByteBulls exchange uses a network-wide shared order book with an automatic matching mode. All parties using ByteBulls exchange software have the order book shared by the whole network, which can greatly increase liquidity.
The price discovery mechanism ？
Through the advanced consensus mechanism and excellent engineering implementation, the transaction speed is greatly improved, an order can be completed within 3 seconds, and the liquidity of the exchange is greatly improved
Just through the advanced consensus mechanism and excellent engineering implementation?
Not only, for cryptocurrency markets, market-making play a pivotal role in the course of forging profitable and valuable exchanges and in establishing efficient market mechanisms. Market making creates opportunities and advantages for the investors such as in terms of creating avenues for market liquidity, in eliminating delays in cases of orders, and in ensuring that spreads are well-stabilized. So a professional market-making team is especially important for cryptocurrency exchanges. ByteBulls crypto exchange solution not only provides you a One-stop White Label Solution, but also have a professional quantitative team, which can provide liquidity support services, including Automatic market-making, Mirror market-making, and hedging transactions.
As mentioned above, The price discovery mechanism determines the liquidity of the exchange market. ByteBulls exchange uses a network-wide shared order book with an automatic matching mode. All parties using ByteBulls exchange software have the order book shared by the whole network, which can greatly increase liquidity.
The price discovery mechanism ？
Through the advanced consensus mechanism and excellent engineering implementation, the transaction speed is greatly improved, an order can be completed within 3 seconds, and the liquidity of the exchange is greatly improved
Just through the advanced consensus mechanism and excellent engineering implementation?
As mentioned above, The price discovery mechanism determines the liquidity of the exchange market. ByteBulls exchange uses a network-wide shared order book with an automatic matching mode. All parties using ByteBulls exchange software have the order book shared by the whole network, which can greatly increase liquidity.