100 million GEX tokens. It is the base currency of the platform to exchange between digital currency and GEX token. You use GEX tokens to pay commissions and fees.
Token sale is coming soon after public smart contract review. Planned starting sale date: Feb 17, 2018. We will release a maximum 100K GEX tokens per day, with minimum price of 0.0001 ETH per token. The sale lasts for at least 1000 days. If we sell all the tokens at 0.0001 ETH, we can collect 10K ETH, which is $5M USD at the ETH price of $500.
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Topic
BoardAltcoin Discussion
List of Non-Bitcoin fork list
by
genesisex_com
on 26/01/2018, 00:22:49 UTC
Is there a place to find a list of Non-Bitcoin fork list? If not, I will start this thread to compile it. If you are interested, please post in the thread. I will add it to the top after verification.
The above link has a list of top cryptocurrency exchanges. Research these top websites and choose the one you need. I use Bittrex and Poloniex for alt coin trading. I am also using Bitfinex to buy IOTA, as IOTA can only be bought at Bitfinex. When I need to withdraw fiat, I use Quadrigacx for Canadian dollars. So there is probably no single exchange that can meet all my requirement.
What is circuit breaker mechanism? No other exchanges support this?
Digital currency exchanges often suffer DDoS attack. Just before the site became inaccessible, if there was a large sell order, it could trigger a cascade of liquidations. On May 7 2007, Kraken was attacked. The Ethereum price went from around $90 to a bottom of $26, in effect liquidating everyone with a long position. On June 21 2007, Coinbase was attacked. Ethereums order book at Coinbases GDAX was completely obliterated as someone sold millions of dollars worth of Ethereum at market price, leading to a cascade of 800 stop orders and margins, sending Ethereums price to ten cent.
Circuit breaker is used to prevent market crashes. It prevents both speculative gains and dramatic losses within a small time frame. As a result of being triggered, circuit breakers stop trading for a small amount of time.
For example, 10% change in value within a 5-minute window will trigger a trading stop for 5 minutes.
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BoardService Announcements (Altcoins)
Re: [ANN] GenesisEX - Next Generation Digital Currency Exchange
Where do you keep the private keys then? Do you pull out deposing addresses for users from file? What is the file get replaced on the server then?
No websites is 100% secure if it is connected to the Internet. When user deposits the digital currency, exchanges are providing a deposit address and controls the private key. But if the website is hacked, the hacker can change the source code and replace the deposit address.
Deposit address file contains all the deposit addresses. When user requests depositing, one unused address is provided. Users can verify if this address is in the deposit address file. The MD5 hash of the deposit address file is published on our website. Users can download the deposit address file and calculate the MD5 hash to verify the integrity. A custom software monitors the web page which publishes the MD5 hash. If this hash is changed, the website will be shut down for safety.
No private keys of deposit addresses are on the server, and hence digital currency won't be lost. So these addresses can be considered as cold wallets. Private keys are stored offline. We do not have hot wallet at all. The deposit and withdraw information are pulled from websites and processed offline.
The goal here is to make digital currency safe. We add these new features, so deposits are guaranteed to be safe, and no digital currency will be lost even if our online servers are hacked.
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BoardService Announcements (Altcoins)
Re: [ANN] GenesisEX - Next Generation Digital Currency Exchange
- Real time total user balances - Published cold wallet address
How transparent are other exchanges?
Digital currency exchanges often fails.
In February 2014, Mt. Gox suspended trading, closed its website and exchange service. Mt. Gox announced that approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time. The amazing thing about the Mt. Gox incident was not just the number of lost bitcoin, but by the extent of negligence by the company. Investigations into the company showed that it had been losing bitcoins since 2011 in minor failures. In fact, it was not a single hack that led to the loss of the bitcoin, but small amounts being stolen by hackers since 2011. It is not possible to know whether Mt. Gox knew of this, but the company did not have as many bitcoins by 2013 as it thought it had. It was only the mass panic and withdrawals by clients in 2014 that made people aware of the fact.
Bitfinex, which replaced Mt. Gox as the world's largest bitcoin exchange, lost $72 million in bitcoin in 2016.
Study (http://fc13.ifca.ai/proc/1-2.pdf) shows that online bitcoin exchanges have a failure rate of 45 percent, with customer balances often wiped out.
We aim to build worlds most secure and trustable digital currency exchange. In case a security breach happens, this information will be delivered to the public in real time by publishing the real time total user balances and our cold wallet address.
Post
Topic
BoardService Announcements (Altcoins)
[ANN] GenesisEX - Next Generation Digital Currency Exchange
100 million GEX tokens. It is the base currency of the platform to exchange between digital currency and GEX token. You use GEX tokens to pay commissions and fees.
We will release a maximum 100K GEX tokens per day, with minimum price of 0.0001 ETH per token. The sale lasts for at least 1000 days. If we sell all the tokens at 0.0001 ETH, we can collect 10K ETH, which is $5M USD at the ETH price of $500.
We build the next generation digital currency exchange.
Security
- No private keys on the public server - Depositing address file MD5 hashes - Circuit breaker mechanism - Simulated market order only - Capped limit order only
100% Transparent
- Real time total user balances - Published cold wallet address
Insurance Fund
- 20% of transaction fee reservation
Robo Advisor
- Automatic digital currency portfolio rebalance
Social Trading
- Aggregated order and average filled price across the trader and his/her following investors.