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Vdollar Exchange Review: Trading is Mining a Unique Mining Mechanism

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Choosing the best cryptocurrency trading exchange is a challenging task for a trader. Before selecting the right one for your trade, there are several considerations, such as the platform features, charting interface, trading pairs, fees, security, and customer support. 

One of the most promising and safe cryptocurrency exchange is Vdollar.io.

Let’s see if Vdollar is trustable, How many pairs it has, Trading fee, Ease of Use, User interface, Security, Compliance, and Legality.

Key Features:

  • Over 20+ cryptocurrencies available to trade
  • Spot, EFT, Futures and derivatives products
  • 0.2% trading fee to exchange crypto assets
  • Two Factor authentication
  • Mine VDollars (VD)

What Is VDollar Exchange?

VDollar.io Exchange is a United States-based cryptocurrency trading exchange. The name of the company is VDollar Exchange LTD which is registered in Colorado, USA. 

Also, the company has the MSB (Money Services Business) registration (which is essential) and is under the United States Financial Crimes Enforcement Network; this means that the trading platform is 100% legit.

The Vdollar ecosystem has three components 

“Trading is Mining ” – This is the motto and working principle of Vdollar’s Cryptocurrency Exchange. In practice, this means that all transaction fees collected by the VDollar are sent to the USDT Reserve Pool. This fee will be later converted to the Tether serve as an underlying asset for the network.

Please note that trading mining doesn’t have much common with mining via processors or ASIC miners. You don’t have to mint coins or crack math puzzles via a mining rig of 6 GPUs. Coins are emitted via trading fees you pay. 

According to the project’s white paper, in the first issuance, 4.5 million VDollars will be released. 

VDollar Cryptocurrency

In the second phase, there will be issued 2.25 million, and so on. In general, 10 million VDollars will be issued, and every following phase will have as twice as smaller an issuance cap as the previous. This scheme allows you to earn money while trading as the trading fees you pay will gain value and you will be able to participate in the company’s IPO and earn some money. The more you trade, the bigger your share. The info about the destination of the fees you pay can be verified as publicly available addresses. 

Super Representatives

Similar to Ethereum 2.0, the Governance on Vdollar cryptocurrency trading platform is executed by 32 super representatives. These super representatives are elected by voting and receive 25% of VDollars mined by their subordinate users. If you want to become a super representative you should apply for it. The application should reveal the size of your user base. Then, through the voting, the most voted candidates make into super reps. The voting rights are granted to those who have passed the KYC check and have money on the balance. The voting takes 24 hours. 

At the end of every issuance phase, the 8 super representatives with the smallest mining volume are excluded from the team of super reps. The voting preceding a new phase is aimed to replace these 8 super representatives with new ones. VDollar super representatives are allowed to participate as voters in elections on several platforms. 

How does VDollar mining work? 

As mentioned earlier, 100% of transaction fees are used as an underlying asset, which is later converted into USDT and added into the reserve pool. Furthermore, it is linked to VDollar through the ERC20 smart contract. The first issue coin is in 1:1 ratio to ensure proper anchoring of the VDollar. The balance and currency available are announced daily and audited manually. 

Is VDollar.io Safe?

VDollar.io includes several industry-standard security protocols to ensure customer’s funds on the exchange are safe and secured from online threats. These measures include Two Factor Authentication, Cold Storage Wallets and an SSL secured website.

Account Registration & Login

To create an account with VDollar.io users will need to go through a registration process to create a trading account. VDollar.io exchange will prompt for a username and email. Verification of the email address completes the basic account creation process. A second password will be prompted to withdraw funds from the user’s VDollar.io wallet.

VDollar.io Verification

Proof of identification is not required immediately for trading on VDollar.io. Users can deposit funds to VDollar.io and begin crypto trading without completing KYC. Users will be required to submit identification documents to withdraw funds from the exchange. 

These checks and balances are in accordance with AML policies. It is a standard process to protect the digital currency exchange from involvement in money laundering or suspicious activity. 

The following information is required to complete VDollar.io verification:

  • Name
  • Date of birth
  • Phone number
  • Copy of a valid identification card or passport and proof of address
  • Photograph (selfie)

Depositing Funds

VDollar.io accepts deposits for the major cryptocurrency assets and stablecoins such as Tether (USDT) to start trading. Funds can be transferred to a VDollar.io account using the desktop and mobile involves selecting the cryptocurrency to deposit (e.g. Bitcoin), copying the unique deposit address and transfer funds from another exchange or a cryptocurrency hardware wallet. The list of assets that can be transferred to VDollar.io for trading is shown under the ‘My Funds’ page. Users should also be aware there is no option for fiat deposits to buy crypto. 

Trading With VDollar.io

VDollar.io has been designed for beginners and advanced cryptocurrency traders on the platform by offering a Standard and Professional user interface. The list of cryptocurrency trading pairs are hidden and can be expanded to view in full.

The standard version (shown below) is assumed to cater to new traders that includes a chart, order entry box, order profile list and trade history. The order entry box is large and easy to use, however the order book and trade history would be a distraction to new traders that do not read this data. 

Like most reputable cryptocurrency trading exchanges, VDollar.io will be integrated with Tradingview in future to provide a suite of charting features, indicators and drawing tools. Users can change time frames, add chart indicators and set alerts by right-clicking the charts. This makes it quick and easy to navigate the charts, change features and display preferences. 

VDollar Exchange Fees

Unlike many other crypto exchanges, VDollar does not have any fee for deposits made on VDollar exchange. However, a small or standard fees is applicable on withdrawal and trading. As compared with many other tier 1 exchanges such as Binance, KuCoin, Okex etc, the fee is quite low. Also, 100% of the transaction fees are put into the mining pool as the user’s underlying asset. In fact, the user can earn reward points and Vdust with their asset holdings. To know full details of VDollar exchange fees click here.

Exchange/Margin Transaction fee rates:

  • Makers 0.2%
  • Takers 0.2%

Swaps transaction fee rates:

  • ​​​​​​​Makers 0.06%
  • Takers 0.04%

What Cryptocurrencies and Fiats are supported at VDollar Exchange?

Cryptocurrencies Supported: BTC, ETH, VD, FIL, DOGE, XRP, BSV, ZRX, DASH, EOS, ZIL, LTC, LINK, BCH, ADA, ETC, YFI, UNI, ELF, TRX, ZRX, SNT, OMG, and HT

Fiat Supported: EUR, USD, CNY, HKD, KRW, etc.

Conclusion

To conclude our VDollar.io exchange review, the exchange is a one of the leading new cryptocurrency trading platform that provides an easy to use platform for customers all over the world to buy, trade and sell digital assets such as Bitcoin and Ethereum. VDollar.io is a solid exchange that has been designed for traders of varying skill levels, expertise and experience with trading digital assets with several charting interfaces to choose from. 

Social Media Channels:

Facebook: https://www.facebook.com/VDollar-103237518352042

Twitter:https://twitter.com/VDollar10

Medium:https://medium.com/@vdollarex

Instagram:https://www.instagram.com/VDollar_Global

Telegtam:https://t.me/VDollar_Family

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Blockchain

Crypto Veterans Shed Light on CBDC and Stablecoins Including TUSD, Endorsing Competition in Money Market

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The renowned documentary series “The Future is Now” has recently shifted its focus to the blockchain industry. The team produced its first-ever crypto-related documentary titled “Aligning the Future,” shedding light on the development of Bitcoin and other digital currencies across the globe.

The show stars H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO, congressman William Soriano from El Salvador, and many other respected crypto leaders, who shared their insights on the future of crypto.

H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO

“Eventually we will have three kinds of nations. One kind of nation will still use traditional fiat, but some countries will start to evolve into CBDCs, doing central bank digital currencies. But we will also see some countries like El Salvador and Caribbean countries in the future that might adopt Bitcoin or cryptocurrency as their legal tender or financial settlement infrastructure.” said H.E. Justin Sun when asked about his view of CBDCs (central bank digital currencies) across the globe.

He also added that as a believer in Hayek’s theory, he has faith in a currency market that is open to entire competition and embraces all types of currencies. Meanwhile, as a veteran in digital currency, Sun believes that CBDCs can be listed on blockchains, including Ethereum and TRON, in the way that stablecoins such as USDT, TUSD, and USDC are listed, which will undoubtedly bring the growth of the crypto industry to the next level. He also pointed out that many underprivileged people are still denied access to traditional financial services. The elimination of the threshold to financial infrastructure will benefit the whole world’s population. Blockchains, including TRON, have already provided a relatively affordable and accessible gateway to financial services and are capable of bringing more convenience to users.

Stats about TRON’s stablecoin infrastructures

Another leader who holds the same view as Sun is William Soriano, congressman of El Salvador, who quoted local facts to prove his point. El Salvador is the first country that announced plans to adopt Bitcoin as legal tender, a seemingly unconventional move backed by ample reasons. 

William Soriano, Congressman of El Salvador

As a prominent advocate for Bitcoin and blockchain, Soriano said only 30% of all Salvadorians, or roughly 1.2 million people, have access to a bank account. In contrast, 3.8 million of them now have access to a digital wallet, i.e., 80% of the population has already been financially included, a feat on its own.

Salvadorians using digital currencies can save on wire transfer fees typically required by traditional banking systems for international money transfers. This is due to the unique operation mechanism of digital currencies, where blockchain technology is being utilized for clearing and settlement. As it stands, blockchain technology and cryptocurrencies are helping more and more Salvadorians access financial resources and are surely gaining nationwide recognition. However, value stability is still a problem that Bitcoin faces due to its volatile prices.

In light of this, recent attention has been focused on such solutions that both enjoy the benefits of blockchain technology while withstanding price volatility. Stablecoins, as previously mentioned by H.E. Justin Sun, are digital currencies deployed on the blockchain and pegged to the U.S. dollar, lowering the entry barrier to financial inclusion while offering a solution to volatility.  

Although stablecoins such as USDT and USDC might enjoy higher popularity at the moment, TUSD is arguably the best-performing and most reliable. Furthermore, as the only stablecoin attested live on-chain and audited in real-time by the renowned Armanino, TUSD prioritizes industry-leading security and transparency.

In March 2021, TUSD became the first native U.S. dollar-pegged stablecoin on Avalanche. One month later, it went live on TRON, becoming the second U.S. dollar-pegged stablecoin natively launched on TRON following the stablecoin frontrunner USDT.

In addition, TUSD has been an early mover in multi-chain deployment, now supported by a succession of blockchains that include BNB Chain, Fantom, Polygon, and Cronos, receiving industry-wide endorsement. Currently, the total supply of TUSD has surged past 1.4 billion, ranking fourth among its peers.

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Blockchain

Pyramid Pad Announces Upcoming Token Airdrop

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Pyramid Pad Announces Upcoming Token Airdrop

Pyramid Pad, a multi-tool project running on BNB Chain, announced an imminent airdrop for its token, $PYRA. The event will take start on April 9 and end on May 23. Also, it should kick-start the project’s growth and increase awareness.

During the PYRA airdrop, every participant will get 1,800 PYRA for joining and another 200 tokens for each referral. Also, the price of 1 PYRA will be 0,014 USD. To join the airdrop, interested members have to complete the following tasks:

  1. Join the Pyramid Pad Telegram channel and submit their usernames.
  2. Subscribe to the project’s YouTube channel
  3. Join the Pyramid Pad Telegram official chat.
  4. Follow Pyramid Pad on Twitter.
  5. Join the project’s Discord channel.
  6. Submit their information details.

PYRA is a BEP-20 token with numerous functions within the Pyramid Pad ecosystem, including staking and farming. It has a total supply of 1,000,000,000 units. The platform will airdrop 5,000,000 (5%) of it during the upcoming event. PYRA holders can use their tokens on any of the Pyramid Pad features, such as:

  • Pyramid Launchpad – A multi-blockchain supported platform where users can launch their coins and raise funds for their projects.
  • Pyramid Staking – A proof-of-stake platform running on BNB Chain and enabling users to earn a passive income from staking.
  • Pyramid Swap – A service that enables users to swap tokens from their Private Key Wallet or Trading Account. The former provides the benefit of non-custodial, on-chain settlement. Meanwhile, the latter offers faster settlement and no network fees.
  • Pyramid NFT Marketplace – This feature allows users to create, manage, buy, sell, and exchange NFTs. 

About Pyramid Pad

Pyramid Pad is an all-in-one, multi-feature project offering numerous DeFi tools and solutions. It runs on BNB Chain and aims to become a far-reaching ecosystem supporting IDO launches, staking, and an NFT marketplace. The platform launched in Q3 of 2021 and, since then, has developed its concept, tokenomics, and struck several strategic partnerships. Recently, Pyramid Pad has obtained a successful smart contract audit from the industry-leading auditor, Solidproof.

For more information about Pyramid Pad, please follow the links below:| Website | Twitter | Telegram |Whitepaper| YouTube| Discord|

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Blockchain

A hands-on experience on some of the most popular smart contract platforms

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In 2021, many smart contract platforms competed for users’ attention and attempted to be the next Ethereum killer. The terms DeFi, GameFi, and NFT, have been all over the media lately, and any of these would not be possible without smart contracts. As more smart contract platforms are introduced, it becomes hard for newcomers to choose which is right for them. This article will examine some of the most popular smart contract platforms and share our hands-on experience with them.

Ethereum

Token: ETH

TPS: 10

Ethereum is the world’s first smart contract platform. Developers create decentralized applications (dApps) on the Ethereum Virtual Machine (EVM) with an object-oriented programming language called solidity. Users can interact with dApps that operate autonomously. Since Ethereum is the first smart-contract-enabled blockchain platform, it has a lot of active developers and has the most Total Value Locked (TVL) in DeFi as far as blockchains are concerned. However, despite being the most popular smart contract platform, it still has a few downsides that make us try to stay away from it when possible. One drawback is the slow transaction speed since Ethereum can only process around 10 transactions per second (TPS). The other problem is the hefty transaction fee it charges when the network is busy, in which the fee may sometimes cost more than the transaction per se.

Binance Smart Chain

Token: BNB

TPS: 60

Binance Smart Chain (BSC) is a smart contract blockchain that is fully compatible with the EVM, so developers can leverage existing tools to write dApps without having to learn an entirely new language. In addition, the increase in transaction speed compared to Ethereum is welcoming. BSC started to gain traction earlier last year, it forked a lot of Ethereum projects that bootstrapped the entire ecosystem, and in the latter part of last year, we see GameFi booms on BSC. One most notable concern that many community members have is the centralization of the Binance chain since Binance is a centralized exchange, and most of its validators are connected to Binance. Nonetheless, BSC has a unique and strategic position in the entire crypto ecosystem.

Avalanche

Token: AVAX

TPS: 4,500

Avalanche is an open-source platform for launching DeFi applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first smart contract platform that confirms transactions in under one second with finality on every block. It provides a new consensus mechanism with an adaptable platform optimized for enterprise adoption and developer needs while solving the challenging problems of scaling and security. The AVAX rush incentive plan also ignited the whole Avalanche ecosystem last year, with large price swings in the latter half of the year. We miss the low transaction fees that Avalanche offered at the very start. Another concern we have is their failure to keep up to date with various promises such as burning the foundation’s staking rewards and the introduction of feeless transactions. If Avalanche could significantly reduce its fees and improve communication while keeping its promises, it’s still a smart contract platform worth keeping an eye on.

Solana

Token: SOL

TPS: 2,000

Solana is a high-performance open-source blockchain. It provides a platform for dApps and next-generation protocols. With its Proof of History (PoH) consensus mechanism, the Solana blockchain allows for breakneck transaction speeds, claiming to scale to over 50,000 TPS on an open network, which is said to be possible due to Solana’s novel approach.This deterministic checkpointing mechanism that is used in place of synchronous consensus. However, Solana’s actual TPS is around 2,000, with more than 3/4 of these transactions being vote transactions. The seemingly inflated TPS widely promoted to the public might reflect the questionable design of the Solana platform. Even though it was once regarded as a crypto rising star, with its six blockchain outages happening in the last month alone, Solana is facing fundamental questions about its network stability, as well as the ability to maintain itself as a Wall Street darling.

TRON

Token: TRX

TPS: 2,000

TRON is an innovative open-source blockchain that focuses on providing a cost-effective settlement solution with the ultimate goal of decentralizing the internet. The high level of scalability offered by the system and its mandate for low costs are attractive propositions for those considering taking their first step into the crypto world. Since last April, the amount of Tether USDT on TRON has surpassed Ethereum to become the No.1 worldwide. TRON became the preferred blockchain for many when transferring and converting stablecoins because of its low fees. The TRON network’s increasing dApps and NFT projects also attracted many new users from other blockchains. However, we noticed that newcomers sometimes brought up the concept of bandwidth and energy on the TRON network. Although understanding bandwidth and energy is not necessary to make a transaction, users should be encouraged to look into them as utilizing these resources by staking a certain amount of TRX would enable one to send transactions or interact with smart contracts for free.

Throughout last year, we saw many smart contract platforms rising to compete with Ethereum, and each of them has its pros and cons. There is an incredibly increasing demand for a good smart contract platform, and every platform will eventually have its place in the ecosystem. Investors, users, and developers should take a closer look at each of these blockchains and pick the one that matches their needs best.

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