Boxmining v2

Author: Nathan

  • DOS NETWORK ($DOS): DECENTRALIZED ORACLE SERVICE NETWORK

    DOS NETWORK ($DOS): DECENTRALIZED ORACLE SERVICE NETWORK

    DOS NETWORK ($DOS) is a scalable layer-2 network that offers Decentralized Oracle Service that securely and reliably collects real-world data, event and computation power and delivers them to blockchain systems. Apart from allowing blockchains to interact with external data, the network also allows communication between blockchains.

    In this guide, we take a closer look at DOS Network, its use cases, incentives to miners, architecture, as well as two of its main components.


    Background

    The development of DOS Network was made possible by blockchain technology, with a special focus on smart contracts and decentralized applications (Dapps). At present, these two areas are seeing increased attention but with only a few tangible results. The DOS system seeks to contribute to the crypto space by commercializing Dapps and boosting large-scale adoption of smart contracts.

    To do this, the project envisions a scenario where smart contracts can independently fetch internet data and activate web application programming interfaces (APIs). Additionally, the protocol’s background is hinged on making on-chain computations less expensive while improving scalability.

    This would allow artificial intelligence model training, matrix multiplication, and 3D rendering, among other applications, to be commercialized while using smart contracts.

    The whole project is supported by the DOS Foundation, along with several key partners including QuarkChain, BKEX, Ultrain, Meter SERO, IOST, and Enterprise Ethereum Alliance (EEA).

    What is DOS Network?

    DOS Network is a decentralized oracle service network meant to boost blockchain-based systems’ interconnection with real-world data. It is built as a scalable layer-2 protocol that offers decentralized data feed oracles.

    What is DOS Network?
    What is DOS Network?

    The protocol is also built to be chain-agnostic and completely decentralized. Therefore, it is compatible with all existing smart contract blockchains. This enables the DOS Network to function as a distributed computational oracle that is verifiable and usable by established blockchains such as Tron and EOS.

    Furthermore, the network is also horizontally scalable, which means that the more nodes run on its system, the greater its computation power becomes. Being decentralized and designed with a crypto economic model, the DOS Network is resilient to sybil attacks and other cyber attacks.

    Major parts of DOS Network

    DOS Network Key Components
    DOS Network Key Components

    The DOS Network has two key components in its system: the on-chain and off-chain parts.

    On-chain

    The on-chain component deals with everything on the blockchain. It’s made of a set of the protocol’s contracts that handle computational result verification, node staking, payment processing, and other functionalities on supported blockchains.

    For ease of use, the contracts have a uniform user interface across chains.

    Off-chain

    The DOS network’s off-chain system focuses on client software operated by third parties in search of economic rewards. The software is made of a blockchain adaptor module, off-chain group consensus modules, among others. Generally, the off-chain part has a distributed data feed and a computation oracle.

    DOS Network Mainnet: Caelus

    DOS Network Mainnet - Caelus
    DOS Network Mainnet – Caelus

    On July 10, 2020, the DOS Network Caelus mainnet officially went live. The mainnet brought with it real-time verifiable results, enhanced security, and scalability. In addition, the launch was accompanied by a blockchain explorer which allows users to query available on-chain information.

    DOS Network: Use Cases

    Bridging the gap between decentralized systems and real-world data leads to multiple enticing use cases. While the utilities for DOS are limitless, they can be summarized into:

    Distributed Derivatives

    A financial contract between individuals can be hindered by a lack of trust, especially on a decentralized platform. To promote stability, a smart contract takes care of a derivative’s short and long positions.

    Although other projects like Decentralized Derivative Association are working on expanding the use of smart contracts on the derivatives market, DOS Network still has its place. The protocol can be used to securely access and feed the contracts with settlement values and price feeds.

    Stablecoin External Data

    In this context, Tether (USDT) is eliminated from the equation because it is issued by a centralized company and can be manipulated.

    Here, we recognize the likes of DAI and kUSD, which are stablecoins pegged to an underlying asset. As a result, these currencies need systems like DOS Network to trustingly provide data, such as the current exchange rate of their underlying assets.

    Decentralized Lending

    Decentralized finance (DeFi) has added great momentum to decentralized lending. And to ensure a fair loan process, the DOS protocol can be used to provide market rates and monitor the equivalence between the amount loaned and collateral provided.

    Also, it can be used to monitor the loan terms and activate liquidation.

    Distributed Insurance

    Insurance is one of the top sectors that would greatly benefit from blockchain technology. With projects like Etherisc looking into crop insurance, flight delay insurance, the DOS protocol can be utilized to feed them with the external data they require.

    DOS Network enables policy underwriting and making payout decisions on decentralized insurance applications by providing the required external data.

    Distributed Casino

    With conventional casinos having up to 15 percent house edge, decentralized casinos are the answer to fairness, transparency, and near-instant payouts. But, with random number generation being at the core of every casino game, providing verifiable random numbers on blockchain systems is difficult.

    To solve this, DOS Network can feed Dapps with verifiable and secure random numbers that are unstoppable, untamperable, and unbiased.

    Decentralized Prediction Markets

    This can be anything from election predictions to sports betting. Decentralized oracles provided by the DOS system can help solve these types of disputes safely and quickly.

    Decentralized Computation Execution Scalability

    The system can allow users to avoid costly on-chain computations and offer privacy to computing tasks. With low costs and private analyses, DOS Network can enhance scalability on Ethereum and other supported smart contract platforms.

    DOS Token ($DOS): What is it?

    DOS Network ($DOS) has a native virtual currency that follows ERC-20 standards. The token is used for both governance and incentivizing network participants. Participants on the network include Dapp developers, Node runners, and premium data providers. (https://nuttyscientists.com/)

    The DOS token supply is hard-capped at one billion. DOS tokens was allocated for mining incentive (35%), ecosystem building (19%), community token promotion (1.5%), private sale (14.5%), team (15%), foundation reserve for marketing, legal, PR & etc (10%) and advisor (5%).

    On Aug 17 2020, DOS Network has announced 2 improvements to the DOS token economy: liquidity rewards and token burning.

    Liquidity rewards

    The team will provide 100,000 DOS tokens every 7 days from the foundation reserve as liquidity rewards, of which 50% will be rewarded to the DOS/ETH pool on Uniswap V2 and 50% to the DOS/USDC pool on Balancer.

    Token burning

    Another 100,000 DOS tokens from the foundation reserve will be burnt every 7 days. Besides, staking interests incurred by foundational nodes (namely Gaia, Zeus, Hera, Ares, Athena, Apollo, Muses, Hades, Poseidon, Odin, Thor, Loki, and The Oracle of Delphi) will be burnt every 14 days and will not enter circulation.

    For more info, please visit here.

    Conclusion

    The interaction of blockchain-based systems with real-world data is the key to explosive blockchain adoption. This can happen in sectors like insurance, casinos, prediction markets, peer-to-peer lending, DeFi, all thanks to the DOS Network.

    Furthermore, allowing decentralized nodes to secure the network through a proof of stake-based system eliminates the need for highly specialized mining equipment, decreases the confirmation time, and increases the capacity of transactions.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

  • Bella Protocol ($BEL): One-Click Crypto Banking

    Bella Protocol ($BEL): One-Click Crypto Banking

    Bella Protocol ($BEL) provides a suite of decentralized finance (DeFi) products, allowing users to access existing DeFi protocols. It is the first project to be hosted on Binance’s Launchpool platform. Launchpool is a brand-new initiative designed to bring the DeFi experience to Binance users. Users can stake their crypto holdings, including ARPA, BNB and BUSD, in return for rewards in newly-listed tokens, of which BEL is the first one offered.

    Background

    The team behind the protocol is led by Co-founders Felix Xu (CEO) and Yemu Xu (CGO). Felix has been active in the cryptocurrency scene since 2018 while Yemu bought his first Bitcoin (BTC) in 2016 and has never looked back. Before creating Bella, the CGO had held notable positions at Fidelity Investments, which has $3.3 trillion of assets under management, and Boro, a fintech startup.

    Furthermore, Yemu has links with ZhenFund, a reputable venture capital firm in China. Other team members include individuals with a rich background in blockchain engineering, cryptography, and finance.

    In 2019, the team got into DeFi by providing liquidity to various lending platforms and decentralized exchanges (DEXs). However, the team identified inefficiencies that it took upon itself to solve.

    Their motivation comes from the realization that the DeFi market:

    • Is worth trillions of dollars.
    • Has a low adoption rate.
    • Charges a ton in transaction fees.
    • Struggles with a system of earning rewards.
    • Has limited interaction between DeFi and centralized finance (CeFi).
    • Lacks mobile-friendly products.

    And to add, DeFi products use smart contracts, which is still a foreign subject to most people.

    What is Bella Protocol?

    Bella Protocol is a network of open financial tools that aim to boost the adoption and ease of use of DeFi systems while throwing in a banking aspect into it. The network’s main offerings include a customized robot-type advisor, a lending protocol, a yield farming tool, and a savings account. The system claims to take conventional mobile banking “into crypto with just 1-click.”

    The one-click is brought about by packaging complicated ideas into simple, actionable plans via automation.

    With Bella, DeFi users can comfortably conduct yield farming without having to jump between protocols. The network relies on complex arbitrage methods as the team behind believes they will see DeFi users grow tenfold.

    Bella and its co-founders have a deep connection with ARPA, a layer-two distributed system built on top of Ethereum. A part of its functions includes asset custody and inter-chain operability. Bella is meant to push ARPA’s vision forward by being at the core of the DeFi revolution.

    As such, Bella’s early supporters and users come from the ARPA community with a global presence. The community is spread across various social media platforms such as WeChat (over 40,000 people), Weibo (52K+ followers), Twitter (20K+ followers), Telegram (15K+ members), among others. ARPA is listed on Bithumb, Kucoin, Binance, Gate.io, Huobi Global, among other exchanges

    Bella Protocol key partners

    The project is backed by key partners such as Binance, Arrington XRP Capital, AlphaBit, and The Force Partners.

    Major Bella Tools

    Bella Lending

    Bella Lending supports tokens used in liquidity pools, carries a referral bonus, and powers yield farming and liquidity mining. Generally, it acts as a distributed and flexible money distribution point.

    Bella 1-click

    With a single click, the protocol brings DeFi features to a central point. Interestingly, it lowers gas fees to zero and acts as a smart portal.

    Bella Robot-like Advisor

    A robot is a program that takes large amounts of data and computes the most probable outcome. For Bella, a robot calculates the risks and provides a tailored exposure to stablecoins capable of bringing yields during farming, among other user-focused customizations.

    Bella Flex Savings

    Here, the system’s users are exposed to arbitrage strategies capable of earning the highest rewards in yield farming. Flex Savings accommodates multiple stablecoins and virtual currencies. However, these strategies are based on a user’s risk level. For instance, if a user stakes USDT, 40 percent can be used to farm yields on Compound (COMP), 40 percent on Curve Finance (CRV), and 20 percent distributed to newer protocols.

    Between Q4 2020 and Q3 2021, the network will see the launch of the 1-click protocol, Flex Savings, Lending tool, and conduct more user growth campaigns, as well as add other features.

    Bella Token ($BEL)

    The protocol uses a native currency, BEL, to tackle voting and governance issues. The token is designed using Ethereum’s ERC-20 standard.

    The token is used for fee collection, rewarding its holders, and staking. BEL has a hard cap of 100 million tokens. The tokens are distributed among the Binance Launchpool (5%), auction (2%), private sale (6%), ecosystem (18%), reserve (4%), user growth (40%), staking (10%), and the team (15%).

    Rewards for BEL stakers come from the management fee charged by the protocol for its products. Apart from staking, BEL tokens can be used to take interest instead of receiving rewards in the token invested. For instance, Flex Savings’ users who have deposited USDT and earned an interest of 1,000 USDT can opt to receive the interest in BEL for a bonus.

    Binance Launchpool

    Bella Protocol (BEL) is first project to be hosted on Binance Launchpool. Users will be able to stake their ARPA, Binance Coin (BNB), or Binance USD (BUSD) tokens into three separate pools to farm BEL tokens, starting from 20/09/09 0:00 AM (UTC) to 2020/10/09 0:00 AM (UTC). On 2020/09/16 6:00 AM (UTC), Binance will then list BEL and open trading for BEL/BTC, BEL/BNB, BEL/BUSD and BEL/USDT trading pairs.

    Bella Protocol will be on Binance Launchpool

    BEL Launchpool Details:

    Token Name: Bella Protocol (BEL)

    Private Sale Token Price: 1 BEL = 0.75 USD

    Launchpool token rewards: 5,000,000 BEL (5% of Total Token Supply)

    Total Token Supply: 100,000,000 BEL

    BEL staking period

    Supported Pools:

    Stake BNB: 4,500,000 BEL in rewards (90%)

    Stake BUSD: 450,000 BEL in rewards (9%)

    Stake ARPA: 50,000 BEL in rewards (1%)

    Users can go to Binance Savings page to stake their tokens. Just click on the BNB, BUSD or ARPA flexible savings products with a “Launchpool” label. (Diazepam) For more information, please refer here.

    Binance Savings Page

    How to calculate the amount of BEL tokens you will get?

    Staked BNB, BUSD and ARPA balances will be recorded each hour for 30 days after the staking period begins to get an average daily staking balance for each day. Rewards allocated to each pool will be split evenly every day over the 30 day period.

    Calculation for BNB pool stakers:

     5,000,000 x 90% / 30 = 150,000 BEL tokens per day

    Each participant’s rewards will then be calculated every day based on their ratio of BNB staked compared to all BNB staked in each pool.

    Example:

    User A: Stakes 5,000 BNB for 12 hours on thefirst day

    Average amount of BNB for all users (across 24 hours): 100,000BNB

    Calculation: ((5,000 x 12 / 24 ) / 100,000) x 150,000 = 3,750 BEL tokens

    Conclusion

    The DeFi scene continues to witness increased activity from users and developers alike even if the adoption rate is quite slow.

    For traditional investors to join the space, there needs to be a clear and robust connection between DeFi and CeFi. One way to bring this connection is through products like Bella that bring a familiar offering to those rooted in conventional financial methods.

    Bella’s mobile-friendly products, such as tools for yield farming, lending, savings, and a customized risk assessment Robo-advisor, are the key to driving the mass adoption of DeFi. Furthermore, a smooth user experience, as well as the utility and incentivization of BEL tokens also adds value to the protocol, which in turn, helps speed up adoption.

    Decentralised Finance (DeFi) series: tutorials, guides and more

    With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. As well as a deep dive into popular DeFi topics such as decentralized exchanges, borrowing-lending platforms and NFT marketplaces

    The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

    Tutorials and guides for the ESSENTIAL DEFI TOOLS:

    More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel so you can be notified as soon as they come out!

    Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.