NGK

NGK BLOCKCHAIN

[ngkio]

Coinbase is listed. Why is the rival NGKEX so popular in the market?

 Yesterday, an important for the entire cryptocurrency market took place, that is, the Coinbase is officially listed! At the same time, the number of NGKEX registrations also increased sharply. It is unknown whether this is a coincidence, but certainly, Coinbase is actively embracing the mainstream market, and the NGKEX is being sought after by the mainstream market.

One is the world's largest centralized exchange, while the other is the leader of emerging cryptocurrency exchanges. Nevertheless, we will discuss about NGKEX with everyone.

 Why do we think that NGKEX is more worthy of attention and investment? We believe the reasons are as follows, please keep reading.

 1. NGKEX represents the direction of advanced productivity

 First, in terms of user experience, users who wish to enter NGKEX do not require KYC or AML to register. This saves users a lot of time and cost. The user interface is simple, and the operation is very easy to use;

 Secondly, in terms of liquidity, NGKEX has made innovations in the AMM mechanism, which has changed the operation model of the traditional order book model. There is no need to spend huge amounts of funds for liquidity hedging or require a market maker to strengthen the liquidity. Any user can become a market maker through pledge.

2. The data on the NGKEX chain is transparent, and users can control their own assets

 With the advancement of the financial industry and informatization, users' demands for information transparency have become increasingly prominent. With that, all business data of NGKEX is on the mainnet of the NGK blockchain, which is more open and transparent. Since it is based on its own blockchain network storage, the NGK blockchain has the characteristics of decentralization and immutability. Although Coinbase has been successfully listed, it is still relatively lagging in terms of its operating and financial data.

 In addition, the stealing of centralized exchange wallets occurs frequently, and there are many force majeure factors from the regulator, which may cause the immobilization of withdrawal at any time. This is disturbing. However, the NGKEX is stored in a decentralized manner, and all digital assets are kept by users themselves. In terms of security, there is no single point of entry or single point of failure, and asset freezing caused by force majeure factors such as supervision is also avoided. The decentralization of NGKEX provides users a double guarantee and greatly enhances the safety factor index.

 3. NGKEX can reward users with the platform’s dividend

 In the future, NGKEX will issue platform token. The AMM of NGKEX allows each participating user to obtain platform dividend through mining. The platform tokens are suitable for liquidity incentives and transaction scenarios, and more importantly, it is suitable to become a community governance token.

 The token holders in the community enjoy the management authority of the platform. They can also take on roles such as marketing and customer service personnel. This is not only conducive to driving the enthusiasm of users in participating the construction of the NGKEX platform, but also conducive to its future construction and development, as well as the value improvement in general.

 Therefore, the NGKEX seems to have more obvious advantages over Coinbase from the three aspects above. Hence, it will become more popular among users in the future.

[ngkio]

Join NGK blockchain and create a new wealth story

The blockchain industry is so popular this year, whether it is fecoin or DEFI mining, they all skyrocket. After all, everyone is attracted by the YFI’s 12,000X mining return. Therefore, mining means catching the express train of wealth, which naturally attracts everyone’s attention.

As the current rising star, the NGK is well received by investors. After the mining boom gradually extinguished, the mining projects it created have set off a new round of mining boom in the blockchain field. Many users are creating new wealth stories through NGK.

NGK blockchain seizes the top mine and create unique assets

The NGK blockchain seizes top mines, distinguish large coin holders, and eliminates the potential of selling pressure. The rise in currency prices will increase the difficulty of promotion. As mining continues, the difficulty of mining increases, and the NGK will become more and more difficult to be obtained. At the same time, the NGK blockchain ensures that users can enter and exit freely. It supports pledged mining, and the settlement rules of the mining pool are open and transparent, which can be queried. All rules are written on the chain through smart contracts.

Mining ecology: DEFI liquidity pledge mining

The success of BTC is the best explanation. It has unique design and an automatic digital network system. After ten years of experience, BTC has developed into a product with a market value worth US$200 billion. It goes without saying that the same is true for the NGK blockchain. In addition, during the rise of the DeFi concept, the NGK blockchain implanted the DEFI liquidity mining project (i.e. Baccarat) to create a thousandfold token (i.e. BGV) to bring new life to the NGK blockchain. With that, it has ushered in a new era in the mining industry.

Strong NGK autonomous community

The ecology of the NGK blockchain belongs to global community autonomy, it is flat and autonomous. All communities have the right to advocate the ecological development of the NGK blockchain, giving full play to their own advantages and combining the NGK tokens to jointly build an NGK ecology. The ecological development of NGK promotes the community development, and at the same time, the community is the best proof for the popularity of the NGK project. According to third-party statistics, since the launch of the NGK mining project, the community discussion of NGK mining has shown a straight upward momentum. In addition to the official NGK group, there are thousands of social groups, communities, and online sharing sessions. This popularity has prepared the fuel for the development of NGK ecology in the future.

Sufficient marketing and promotion to drive market enthusiasm

In addition to the self-propagation from the community, the NGK itself has also performed marketing and promotion for the NGK mining project. There are thousands of messages per day from the NGK communities, revolving around the NGK mining-related reports, rules, and mining progress news. At the same time, various media reports emerge in an endless stream. With the combined efforts of multiple parties, the performance of NGK mining is ready. Seeing that the tuyere effect has been formed, NGK is the thousandfold legend you seek.

[ngkio]

Analysis of the NGK blockchain mining ecology

Since 2020, with the skyrocketing price of Bitcoin and the popularity of DeFi mining, some blockchain projects have focused on mining. The major blockchain projects have laid out one after another, trying to get some small profits on this “mining” track. However, many blockchain projects are still based on the POW or POS mechanism, which leads to huge energy consumption and slow block production. In addition, some mining blockchain projects are still relied on mining machines, which consumes a lot of manpower, material resources, and electricity. These have severely restricted the development of the mining industry.

However, there are also some blockchain projects that innovate on the traditional blockchain. They found the shortcomings of other blockchain and improved the technology, so that they can provide better mining services to many users.

Since October 2020, there has been a popular blockchain in both crypto industry and mining industry, that is the NGK blockchain. The factors contributed to the popularity of the NGK blockchain is very complicated. Part of the reason comes from the joint efforts of its global communities, and part of the reason comes from its lower threshold. However, the main reason is due to its unique technical advantages.

Today, I will mainly focus on the mining industry. The technical advantages we discussed today are mainly related to NGK blockchain mining.

First, the mining mode of the NGK blockchain adopts an online cloud computing power mining, with the biggest advantage of not having to purchase mining machines or hiring miners to guard the mine. With that, users only need a mobile phone and they can easily operate 7/24, saving time, effort, and cost, while also avoiding personal injury to miners.

Secondly, in terms of the consensus mechanism, the NGK blockchain abandoned the original POW and POS consensus mechanism. Instead, it made changes and innovations to the new DPOS consensus mechanism and launched the DPOSS consensus mechanism. The biggest advantage of this consensus mechanism is that it can reduce energy consumption and produce blocks at a very fast speed, which can meet the needs of users for mining speed and cost.

In addition to technological innovations, the NGK blockchain has also issued a series of tokens, such as the native token NGK, SPC, VAST, etc. The NGK blockchain token fully connects to mainstream currencies and realizes the platformization in the mainstream currency market, thereby building a multi-chain ecosystem and gaining the supports from mainstream currencies. It is worth noting that NGK mining token is a decentralized passive investment platform built on the NGK ecology, providing users with reasonable services to gain wealth.

The NGK ecological builders can obtain revenue through liquidity mining, and they can also obtain rewards by referring to their friends. In addition, NGK also created the world’s first smart contract referral commission for the mining mechanism. With that, ecological builders can benefit from referral if they promote it.

Since the NGK blockchain runs on smart contracts, it has achieved 100% decentralization, never shuts down the network, and has no principal commission. It is truly a non-destructive principal mining with complete fairness.

In addition, the NGK blockchain project is initiated by the global community, and the development direction of the project is determined by the community’s vote. It has no private equity, no pre-mining, no founder shares.

The perfect integration of NGK blockchain technology and mining ecology makes the NGK blockchain mining ecology more suitable for small and medium-sized retail investors to enter, and it can also bring long-term benefits to small and medium-sized retail investors.

[ngkio]

Dissuaded by DeFi mining? Why not choose NGK blockchain mining!

In the past two years, mining has been very popular, especially DeFi mining, whose popularity has not diminished so far. Many large institutions have benefited from there, and the retail investors are envious with that. However, many retail investors have been dissuaded to enter the DeFi market.

 The current reasons why retail investors are being dissuaded by DeFi are due to these points. We have summarized them in the following:

 First, the high gas cost. Most of the current DeFi projects are based on the Ethereum protocol and the gas cost incurred is relatively high. Especially when a user conducts a complex transaction, the gas fee may be as high as several hundred dollars!

  Secondly, the network congestion. In addition to the high gas cost, there is also the problem of network congestion which is a headache for users. They joined with the purpose to make money, but due to the long-term network congestion, their minds are disturbed and thus, many users fled one after another, trying to find a more suitable place for mining.

 In fact, the NGK blockchain has always been a good choice. It can be regarded as a leader in the emerging blockchain field, and its top technical advantages are widely recognized by ecological builders and even institutions. The most important thing is that it has reasonable ecological layout and a clearer goal.

 At present, the NGK blockchain has a layout to many fields such as DeFi, DAPP, computing power, and DEX. The ecological builders who want to mine can enter the DeFi market through Baccarat and participate in the mining, and then obtain the BGV. In addition, ecological builders can also purchase the NGK computing power to enter the NGK blockchain computing power market, participate in the construction of the computing power ecological "Starry Sky Project", participate in computing power mining, and obtain SPC token and the high-fold token, VAST. Alternatively, ecological builders can also participate in the DAPP mining "Calling Hippo" of the NGK blockchain to obtain the NGK native token.

 In short, there are currently three main channels for ecological builders to mine in the NGK blockchain. First, DeFi mining to obtain BGV tokens; the second is the computing power mining to obtain SPC and VAST tokens; while the third is the DAPP mining to obtain NGK tokens.

Different mining channels provide different types of token rewards, and they have different future benefits.

From the current point of view, every token has a lot of room for growth. However, they have some differences.

 Firstly, in terms of scarcity, BGV and VAST are scarcer, so they may have higher future value than NGK;

 Secondly, in terms of properties, both SPC and VAST belong to the computing power tokens, which are very important for the entire market construction and development of the NGK blockchain, so the future value of these two is also unlimited;

 Lastly, in terms of liquidity, as the native token of the blockchain, the NGK token will be used in the purchase of DAPP malls in the future, so it has greater liquidity and higher value appreciation space in the future.

 Therefore, users can choose their preferrable mining channels. The NGK blockchain can provide users with a safe, stable, and profitable multi-channel mining platform, so that more retail investors can enter.

[ngkio]

What are the benefits of NGK project development to the profitability of miners?

The blocks in the NGK blockchain system are like electronic bills, which record the transaction information of all nodes. Each block data of NGK is stored in the customer node, and all nodes together form a safe and reliable distributed ledger. Even if the data of any node is destroyed, the system will not be affected. The entire NGK system has a high degree of transparency and openness. In addition to encrypting the private information of all transaction parties, the sharable information will be disclosed to everyone, and the public data can be queried through an open interface.

 The NGK miners is responsible for the safety of the Layer 0 consensus layer by storing more capacity data. A more secure consensus layer can attract more business applications. Miners can also obtain tokens from multiple chains in the parallel mining process to increase profitability.

From the perspective of miner ecology, the ETH upgrade to 2.0 and 1.0 mining opportunities become inapplicable. In addition, miners may be eliminated after the BTC halving. Will the changes in these industries benefit the NGK ecology?

 It is a huge project to switch from the current Ethereum 1.0 to the Ethereum 2.0, and its consensus mechanism will shift from POW to POS. With the transformation of the consensus mechanism, the mining method of Ethereum will also undergo tremendous changes. Nowadays, the GPU miners used by Ethereum 1.0 miners include GTX1060, GTX1070 and GTX1080. Most of them are expensive and consume too much energy. While Ethereum 2.0 mining will no longer require strong computing power as a guarantee. Therefore, the huge amount of mining hardware from Ethereum miners needs a suitable place.

 After the BTC halving, a considerable part of the miners was eliminated due to the excessively high ratio of "electricity fee/revenue". In addition to the BTC ASIC mining machine, these miners also have hardware equipment including factories, racks, power supplies, and networks, which are reusable.

 For NGK, the GPU equipment eliminated by Ethereum can be used for NGK P drive. The professional hardware equipment of BTC miners can purchase additional hard drives for the NGK hard drive mining. Compared with PoW, it has extremely low mining energy consumption.

 Under the NGK consensus, the consensus of multiple chains is completely consistent at the DB layer, because the same consensus layer is used. The difference is that, according to different chain strategies, there are different query methods at the Spacekeeper layer. At the same time, there are different block production rules at the PoCMiner layer.

 NGK is an open source project, allowing anyone to participate. There are many supporters of NGK ecology in the market.

 Nevertheless, NGK itself has done many technological innovations. As more institutions flood in, it will create a fairer and more stable market.

[ngkio]

What are the advantages and opportunities of NGK blockchain’s cloud computing power mining?

With the crazy increase in the price of Bitcoin, the entire token market has also entered a stage of recovery. However, coin speculation is not a profitable business. After the celebration, the enthusiasm was finally extinguished by the sudden correction. However, the market recovery did bring many benefits. It not only strengthened the consensus of loyal investors, but also attracted many new players to enter the market. Among them, people who interested in token has shifted from "transaction" to "mining". Many capitals poured into the cloud computing power market, which led to the successive rise of emerging blockchain projects, including the NGK blockchain.

 Advantages of NGK blockchain cloud computing power mining

 The most direct reason for the popularity of the cloud computing power platform is the benefits brought by the reversal of the secondary market. Many funds have poured into the mining industry from the crypto industry. Compared with trading tokens, the cloud computing power mining has become a low-threshold investment method. The NGK blockchain seizes the opportunity. In addition to providing users with token transactions, it also provides users with a low-threshold cloud computing power mining platform. It has the following advantages:

1) Compared with secondary market investment, the NGK blockchain mining is always the lowest cost method

Compared with secondary market transactions, the cost of mining seems to be lower, making it very popular with users. However, this is not the only reason why users like it. They are attracted by the fact that mining is more risk-resistant than the secondary market.

2) NGK blockchain mining is equivalent to a long-term fixed investment, which will not be easily influenced by secondary market

NGK blockchain mining is a long-term process, and it is also a long-term process of accumulating mining revenue. In essence, mining is a fixed investment process, and it is minimally disturbed by fluctuations in the secondary market.

Opportunities for NGK blockchain cloud computing power mining

The market opportunity of cloud computing power provides ecological builders with a more "neutral" investment method. Compared with self-built mines, it has lower threshold. Compared with short-term operations, its risks are lower, while compared with the market price purchase, its cost is lower.

Earlier, the NGK blockchain launched the "Starry Sky Project" of the computing power ecosystem and issued the high-fold SPC token and its sub-coin VAST. At present, these two tokens are rising rapidly and circulating in the secondary market.

Users participating in the NGK blockchain cloud computing power mining can obtain a small amount of SPC tokens daily. If the SPC tokens reach a certain amount, they can also exchange for the high-fold token, VAST. When many users flood into the NGK computing market, the prices of SPC tokens and VAST will also rise. This will help users to avoid certain market transaction risks while also allowing them to enjoy dividends from the rising currency prices.

In addition, after users participate in the NGK blockchain cloud computing power mining, they can save time, effort, and money. They only need to participate in the mining with one click through the mobile APP, and it is available 7/24. There is no need to worry about missing the mining opportunity!

[ngkio]

How does NGK’s algorithmic trading and information work?

Blockchain is commonly used in the data structure of “block + chain”. In simple terms, the “block” refers to the overall package of transactions by the bookkeeper within a unit time, and the new block is connected to the previous block. Together, they form a blockchain.

Although this chain structure has the advantages of being relatively simple and quick confirmation, it also has inherited stubborn issues. First, it is difficult to improve the throughput, so the efficiency has always been low, and there can only be a single chain in the entire network, which cannot be executed concurrently. If the block is too small, it will inevitably cause a significant delay in the transaction, and if the block is too large, it will cause data expansion, where ordinary node users will overwhelm and suffer from DDos attacks and other problems. In addition, there are also potential problems such as energy consumption and safety issues.

DAG (i.e. Directed Acyclic Graph) was originally a commonly used data structure in the computer field. Due to its good multithreading characteristic, it can upgrade the blockchain from single linear writing to three-dimensional multi-point parallel work. This has now become an increasingly important development direction in the blockchain world.

In addition, NGK also considers the trading and side information algorithm. A typical scenario of the double-spending problem is a sidechain attack. Attackers often send multiple transactions within a short period of time to rapidly grow the sidechain, and after they approve each other, a series of deceptive sidechains may lead to double spending.

To prevent this from happening, the NGK will do a set join between two approved transactions, and the judgment of this right is determined by the side information, whereas the side information is confirmed by time. By using side information to readjust the transaction, the attack effect is attenuated, and the smooth operation of the network is maintained.

When the static graph algorithm updates the node rights, it needs to calculate the weight of each node from the beginning of the initial node. This calculation is very complex. And if we cache the statically calculated information and update the cached information only when a new tip is added, the calculation complexity will be greatly reduced.

At present, the NGK’s solutions have gradually moved from research to implementation. Many new DAG solutions are being proposed in the industry. From a technical point of view, the NGK may have an impact on existing blockchain projects and transform the blockchain design thinking to a certain extent.

NGK has the advantages of fast speed and high throughput. As more and more projects participate in the ecological development of NGK, the DAG is a very promising mechanism in the long run. The NGK blockchain creatively designed a DAG-based throughput cache layer by expanding the multi-layer protocol, and made breakthroughs from theory and reality, and took the lead in the blockchain dispute.

[ngkio]

How does NGK improve its computing power?

The operating process of consensus is a process when multiple parties (node ​​devices) calculate the same data (block). For example, NGK is a node that packages the block, broadcasts to all nodes, and save one by one.

 Even if Ethereum 2.0 switches from PoW to PoS, it will speed up the consensus process, reduce the completion time for a single consensus, and increase the number of processing units within a unit time. The limitation of PoS is obvious under the face of massive computing needs.

 With that, under each blockchain structure, the model in the figure above will appear. All computing tasks are seizing the computing resources of a computing node, and several tasks are seizing a narrow channel.

 If the amount of concurrency in some application scenarios is not high, the entire confirmation process can be smoothly cleared by increasing the computing power of a single node, replacing a faster consensus algorithm, and assigning a "pass" time to the task of finding for resources.

 However, it is a pity that for many high-concurrency scenarios (blockchain cannot stop at financial and single scenarios), it will definitely be blocked, slow, or even impossible at all, or it may even cause other problems (e.g. security issue) due to blockage.

 In addition, it is necessary to parallel processing in the task processing to

increase the upper limit of the task processing in the network unit time.

  Learning from the expansion and parallel thinking of the NGK blockchain cloud computing, how can the cryptocurrency network be realized?

  The cloud computing of NGK provides the most basic requirement, which is the network resources of the access system. It is not the access of multiple computing devices. The upper limit of the external output resource is only the upper limit of one computing device, but after N computing devices are connected, the processing capacity of the network is increased by N times.

 This is exactly what the cryptocurrency network needs. Each cryptocurrency network can be accessed by several computing devices, and the final performance is limited to the structural part of the consensus layer.

  Let's look specifically at it. Traditional cloud computing platforms have horizontal expansion and vertical expansion. Horizontal expansion is parallel, and the tasks are divided and processed. While vertical expansion means increasing the processing capacity of a single device. This is very similar to solving the expansion problem to increase the block size.

 As an example of parallelism in the NGK cloud computing, the data is generated in a structure suitable for parallelism, and then quickly processed by the performance of GPU.

  However, when the blockchain structure in the cryptocurrency network cannot be changed, the idea of ​​parallelization has evolved into multiple types. To ensure the stability of the consensus layer, this layer of NGK chooses to build nodes through organizations and enterprises with high industry trust. The nodes communicate to quickly form a general ledger through the NGK algorithm.

[ngkio]

What do you need to know about the Ethereum Berlin upgrade?

The long-delayed Ethereum Berlin upgrade is about to go live. This is the latest upgrade after the Ethereum Istanbul and Muir Glacier upgrades. Due to the over-centralization of the Geth, the Berlin hard fork, which was originally expected to go online in July 2020, has been postponed all the way to this day.

The Berlin upgrade is expected to be officially launched when the Ethereum mainnet reaches 12,244,000. However, the specific time may be advanced or postponed due to fluctuations in the block time. According to current estimates, it will happen around today and tomorrow.

Why Berlin?

In fact, Berlin is just a name for the upgrade of the Ethereum network. Since the Istanbul upgrade, the Ethereum network upgrade will be named by a combination of the city names and the order in which the Devcon will be held.

What does the Berlin upgrade mean?

For Ethereum itself, the Berlin upgrade means changing its underlying protocol.

The decentralized nature of Ethereum makes network upgrades a difficult problem. This requires the community and Ethereum developers to reach a consensus on certain protocol changes. The agreed protocol changes will be written to each Ethereum client and begin the network upgrade at the block height.

It is understood that the main purpose of this Berlin upgrade is to optimize the performance of Ethereum's mainnet and optimize the smart contracts, including gas efficiency, virtual machine code reading, and prevent the denial of service attacks. This upgrade will be run on the three major test nets of Ethereum before it is deployed to the mainnet.

What are included in this Berlin upgrade?

According to an earlier announcement by the Ethereum official, the upgrade of Ethereum includes at least five EIPs. In the early days of the Ethereum mainnet, there was only one transaction type with TO and Data. In November 2016, the needs for transaction types of Ethereum network has changed. The pseudo-dragon hard fork incorporates EIP-155 to prevent replay attacks. Although EIP-2718 cannot solve the complexity problem caused by EIP-155, it can effectively prevent the emergence of more complexity and simplifies the implementation of EIP-1599.

As a user, what preparations need to be made?

As an Ethereum user or ETH holder, you don’t need to do anything unless your exchange or wallet service provider informs you that additional steps are required.

However, as a node operator or miner, you need some preparations, such as downloading the latest version of the Ethereum client. Considering the variability of block time, it is recommended to upgrade a few days before the expected date. After the Berlin upgrade, the non-upgraded nodes will remain on the old chain that is not compatible with the new chain. They will not be able to send ETH to the upgraded Ethereum network or operate the smart contracts in the upgraded Ethereum network.

[ngkio]

Bitcoin one step further to $70,000? Only 16% of respondents think there is no bubble

In fact, yesterday 14:00 was the best time to pull up. At that time, the currency price rose rapidly, reaching a maximum of US$61,200, and it was the best time for the currency price to break through its technology, cycle, or plan. The long-term momentum has supported the acceleration of this breakthrough, but we see that the currency price has been suppressed once again. This suppression is obviously forced by oppressing against the Binance Coin. The market value of the currency is second only to Bitcoin and Ethereum. Therefore, the rapid correction of Binance Coin will inevitably lead to the rapid decline of Bitcoin, thereby destroying the accelerated rise of Bitcoin. It is like speaking to the market, “Look, I am I want to break through, but Binance Coin has dropped so much that I can't make it.” This is the gameplay from the main force.

One of the side effects of the Fed's countless funds injection into the financial system is to push up the asset prices of stocks, cryptocurrencies, and some commodities to record levels over the years.

 The monthly survey from the Bank of America found that currently about 74% of respondents stated that Bitcoin is in a bubble, and only 16% of respondents believe it does not have a bubble. This shows that fund managers believe that Bitcoin currently is highly speculative. Bitcoin just broke a record high of $63,000 on Tuesday, and it has more than doubled since the beginning of this year. The price and popularity of other tokens such as non-fungible token (NFT) have also been soaring greatly in recent months.

 Compared to Bitcoin, only a few respondents currently believe that there is a bubble in the stock market, only 7% of them think so. However, 2/3 of the fund managers interviewed stated that the US stock market is under the late stages of a bull market.

 The Bank of America survey also shows that nearly 62% of investors increased their stocks and the positions have reached a high point.

  60% of respondents expect short-term interest rates to rise in the next 12 months, which is the highest since January 2019. However, if the 10-year U.S. Treasury yield exceeds 2.1%, they expect the stock market to experience a correction of more than 10%. Most people also believe that the 10-year U.S. Treasury yields of 2.3% and above will make bonds more attractive relative to stocks.

 In addition, even though the main risk has experienced changes, the most crowded trade is still the "technology stocks", which has taken the lead for the third consecutive month. However, considering the recent stock market rotation, 53% of respondents expect that value stocks will outperform the growth stocks in the next 12 months.

 The survey also shows that the proportion of investors' cash allocation has now risen to 4.1%, from 3.8% in February.

[ngkio]

Bitcoin skyrocketed and broke through $64,000 per unit, setting record high

62,000, 63,000, 64,000, etc., Bitcoin is going wild again! From April 13th to 14th, Bitcoin broke through US$62,000, US$63,000, and US$64,000 successively, setting new historical highs continuously, reaching a maximum of US$64,463.19. As of 13:00 on the 14th, the price of Bitcoin was US$64375.48.2, an increase of 6.35 %. The market value exceeds US$1.2 trillion, ranking sixth in the world by market value, second only to Apple, Microsoft, Saudi Aramco, Amazon, and Google, and surpassing the market value of companies such as Facebook, Tencent, Tesla, and Alibaba.

 As the first cryptocurrency exchange, Coinbase is about to be listed on the Nasdaq, while Bitcoin, as the most popular cryptocurrency, has also set new highs one after another. It has exceeded US$64,000, and it is going all the way to new heights.

 Bitcoin is the world's largest cryptocurrency. It is known for its dramatic price fluctuations. In the past few days, the price of Bitcoin has risen by more than 5%, which has pushed the total value of global cryptocurrencies to exceed US$2 trillion.

 Now, many mainstream investors and companies accept cryptocurrency. In early March of this year, Goldman Sachs announced that it would restart its cryptocurrency trading department due to the increased demand from institutional clients.

 The CEO of Tesla, Elon Musk tweeted that Tesla now accepts Bitcoin payments. In other words, the company's electric cars can now be purchased with Bitcoin.

 Since mid-to-late January, the price of Bitcoin has accelerated, rising from US$30,423.10 to a high of US$57,492.90, an increase of 90% in January. Subsequently, Bitcoin broke through US$60,000 for the first time on March 13 and rose above US$60,000 on April 2. It reached a maximum of US$60,200 in the day but fell to US$56,431 on April 4. Nevertheless, Bitcoin returned to above US$60,000 last weekend.

  The news mentioned that Coinbase, the largest cryptocurrency exchange in the United States, will be listed directly on the Nasdaq on April 14, and it will soon become the first U.S. cryptocurrency platform. At present, Coinbase is valued at up to US$100 billion, more than combining the established exchanges, the New York Stock Exchange, and the Nasdaq. Matt Weller, the Global Research Director of Gain Capital Group, stated that the "first cryptocurrency stock" will be listed soon, which has greatly stimulated the enthusiasm for Bitcoin trading.

 Coinbase is the world's largest token exchange. As of December 31, 2020, Coinbase's cryptocurrency trading volume was US$193 billion, an increase of 141.7% from 2019. The latest financial report shows that in the first quarter of this year, Coinbase added 13 million new users, and the total number of registered users reached 56 million. The company achieved revenue of US$1.8 billion in the first quarter, a year-on-year increase of 844%, and exceeded the total of US$1.3 billion in 2020. In the first quarter, net profit was 730 to 800 million U.S. dollars, a sharp increase of nearly 25 times year-on-year.

 The violent fluctuations in the price of cryptocurrencies have also led to a sharp increase in the amount of liquidation. According to data, as of press time, US$458 million of funds have been liquidated within 24 hours. The largest single liquidation is worth US$10 million.

  Bitcoin has been brewing under US$60,000 for a long time, breaking through many times, and now it has finally stabilized and reached a new high. Under the current U.S. market, the continuous issuance of the U.S. dollar has caused widespread public concern about the depreciation of the U.S. dollar. With that, Bitcoin has become a safe-haven asset choice for some individuals and institutions. "After Bitcoin hits a new high, there may be some profitable investors exit, which causes a correction. Thus, we need to pay attention to the scope of the correction."

 The skyrocketing Bitcoin has led Tesla's floating profit to rise sharply. On February 8, Tesla submitted documents to the U.S. Securities and Exchange Commission (SEC) that the company purchased US$1.5 billion worth of bitcoin. According to estimates, Tesla’s cost of buying Bitcoin is less than US$35,000. As of now, Tesla’s floating profit exceeds 84%, with a floating profit of approximately US$1.263 billion. Last year, Tesla's net profit was US$721 million, which means that Tesla's "coin speculation" earned 75% higher than the net profit of car manufacturing in 2020.

[ngkio]

6.5X increase within 3 months: “Miners” earn 300 million a day, and funds “crazy favor” Bitcoin

On the evening of April 13, the token market increased across the board. All hit historical highs, Bitcoin with the largest market value, Ethereum with the second largest market value, and Binance Coin with the third largest market value. Among them, the price of Bitcoin exceeded US$63,000 per unit.

 Bitcoin has become the darling of many funds this year, which also benefits the entire industry chain. The data shows that from the last 30 days, Bitcoin miners and practitioners earned an average of about US$50 million U.S. a day, which is about 4 times the amount of money earned daily last year. Under the anticipation of continued bullishness in tokens, many listed companies have transformed to "manufacture" Bitcoin, playing a role equivalent to the issuer of stocks.

  After a month of correction, the price of Bitcoin exceeded US$63,000 per unit, which led the token market to rebound across the board. The prices of multiple varieties also hit record highs.

 Compared with Bitcoin, the world's largest market capitalization, Ethereum and Binance Coin, the world's second and third largest token, have shown stronger price increases. On the evening of April 13, the trading data showed that the price of Ethereum, as the second largest market capitalization, exceeded US$2,200, setting a record high. Three days ago, Ethereum plunged to 10%, giving investors a sign of a sharp correction. However, within six hours after the last plunge, Ethereum rushed to raise funds again.

 Binance is almost the only token with "real" business and application scenarios among them. Unlike Bitcoin, which does not generate any actual business or net profit, Binance, as the world's largest token brokerage company, is similar to the integration of the New York Stock Exchange, Hong Kong Stock Exchange, and securities companies, providing Binance Coin many advantages in terms of user scale and application scenarios which are unmatchable by other tokens. This has also allowed the price of Binance Coin to go in a stable and competitive manner. In the last seven days, the price of Binance Coin has increased by 45%.

 The founder of Binance, Changpeng Zhao, previously revealed that Binance has about 600 employees and its estimated net profit for 2020 is expected to reach US$1 billion.

 Each round of market panic caused by the plunge is an opportunity for institutional funds to sweep Bitcoin. It is worth mentioning that the token plummeted across the board on April 8. The data from the cryptocurrency analysis company, Glassnode showed that the major token brokerage companies that day attracted US$1 billion in capital inflows within a day. The analysis believes that this is the largest inflow of funds since mid-March, and Bitcoin has declined slightly, which may indicate that buyers are waiting for the price of Bitcoin to fall.

  After the Bitcoin price plummeted to US$55,000 on April 8, the Bitcoin price quickly rose. Within 48 hours, the Bitcoin price not only recovered to the price on the previous day, but it once again closed to US$60,000. The market participants pointed out that this is related to the capital hunting of institutions to a large extent.

 It is worth mentioning that, the funds including Tesla, Meitu, and the funds purchased in the secondary market, they are not the most profitable party in the token industry.

 According to Finance Magnates, Bitcoin has risen by nearly 100% in the past 13 weeks, and the Bitcoin mining revenue is also soaring. Based on the latest data published by crypto analytics and the on-chain market analysis company, Glassnode, Bitcoin miners can only earn around US$12 million a day in 2020. As institutional funds continue to flow into the market, the demand for buying Bitcoin has risen sharply. Miners who mine Bitcoin are happy. The Bitcoin miners have earned an average of about US$50 million a day in the past 30 days, which is about four times that of last year.

[ngkio]

NGK global roadshow ended grandly in New York. DPOSS consensus algorithm mining shines bright!

Recently, the NGK global held a grand roadshow event in New York, USA. The guests present included blockchain experts from the United States, Canada, and other countries, as well as the NGK community representatives and many well-known media.

 At the beginning of the conference, the U.S. roadshow speaker, Viko shared the NGK's recent phased results and its future development plans. NGK always puts the interests of users first by continuously optimizing and upgrading its products. The NGK platform will work sincerely with industry partners to create the greatest cooperation and achieve a win-win situation.

  After that, the invited guest Mike raised two questions. Why is DPOSS optimistic about it? What is the NGK's biggest technological innovation? What are the current technological difficulties?

 Next, the NGK representative Bob replied: There are four main reasons for being optimistic about DPOSS:

 First, fairness. In the DPOSS consensus algorithm, the proof of capacity space is decentralized, and the capacity proof provided by a miner is linearly related to the revenue. If miners want to get more revenue, the best way is to expand the capacity. This mining algorithm allows individual miners and institution miners to mine on an equal basis.

 Second, security. A well-designed DPOSS mechanism can resist the malicious nodes with a capacity of less than 51%.

  Third, scalability. The DPOSS consensus algorithm uses capacity space to prove that. Therefore, after the hard disk is initialized, it does not require many additional resources to provide the proof of capacity for multiple blockchain platforms.

 Fourth, energy saving. The power consumption of nodes that have been initialized and under the process of mining is reduced by the orders of magnitude compared to PoW.

 The biggest technological innovation of NGK is that it has redesigned a more advanced DPOSS consensus mechanism compared with projects such as Burstcoin. Each NGK proof of capacity only requires reading a few bytes of data from the hard disk, while ensuring extremely high security.

 Then Mike asked again: What is the difference between Polkadot and Cosmos that can send parachains on the NGK engine? What kind of ecology do you think NGK wants to make?

 NGK representative Bob replied: The information on the official website shows that NGK was designed to support the parallel operation of multiple blockchain platforms and realize the interaction between chains.

  This cross-chain protocol is somewhat different from Polkadot and Cosmos. The chain independence on NGK is stronger. In the first question, the design of NGK can reduce the pressure on the disk of the miner node. Therefore, the NGK system can entirely support the parallel operation of multiple chains at the mining pool level.

  I think the advantage of this design is that it can be dedicated to the dedicated chain while reducing the additional energy consumption. For example, the NGKNet itself is based on the UTXO model, and some business logic is more suitable for Ethereum's account model, so community organizations can develop an account model chain based on the NGK consensus. By distributing and running different businesses to several segments of the chain, instead of using one chain to contain everything, I think this is more conducive to the development of the ecology in general.

[ngkio]

How does NGK apply control theory to the crypto industry?

The crypto economy system and the control system of NGK have a common phenomenon. There is a set of parameters set by humans, which encode the trade-off decisions in the system. Under the crypto economy system, we regard the parameters subject to human supervision as the governance aspect.

It is important for NGK to clarify the governance aspect, and where possible, it is important that the effect of adjusting this parameter is relatively straightforward. In general, the concept of governance is used as a general concept, assuming that humans will have the expertise, procedures, and coordination to agree on future changes to these parameters.

In practice, NGK aims to maintain a small governance area to reduce the frequency and complexity of governance actions. In addition, system engineering based on the early model can determine the initial parameters to develop the rollout plans and/or minimize the scale of future changes.

From stablecoins anchored to the US dollar to the recent popular algorithmic stablecoins, can “stable” assets create new gameplay? The NGK continues to monitor the real-time data and integrates with the system model, which will reveal whether it is worth including the integrated control item Ki and its leaked “anti-saturation” mechanism. This will increase the complexity of the system, but it can also ensure the long-term sustainability, thereby minimizing the governance during the life cycle of the RAI system.

Trying to minimize governance by ignoring the governance is like getting on a self-driving car without instructing the destination to the car.

In practice, the minimization of governance requires a clearly defined governance aspect, and then a clear procedure about who, when, and how to change the parameters. Successful governance minimization means making fewer, smaller, and clearer changes, and reducing the business costs.

It is rare that the parameters are completely uncoupled. More often, the appropriate values ​​are related to each other, such as the Kp, Ki, and α (leakage integrator) we have seen. The NGK models play an important role in monitoring the health of the system because they can suppress the governance actions, which actually put the system at risk and in turn helping to determine when actions are needed. There are sufficient warnings to execute planning, testing, and implement effective interventions.

Given that NGK has a full-featured model of RAI and mainnet, it will next expand the scale of the existing model and integrate it with real-time data to provide information for continuous monitoring. After that, we must make a decision to learn from shocks and events to improve our understanding of the complex new dynamics around us.

[ngkio]

How does NGK improve blockchain efficiency from the data?

NGK introduces advanced database query functions, supports object-relational query language (NoSQL) similar to MongoDB, and introduces a new form of data processing, Google MapReduce. The NGK will provide database migration tools to quickly transfer traditional centralized databases to the blockchain databases.

What is modularity? For example, when we were young, we played building blocks. If we want to build a house, we don’t put it together from bottom to top all at once. Instead, we put together a horizontal bar, a vertical bar, a circle, etc. to form a window, a wall, a roof, and other components. These components are like modules. It has certain functions and can be used separately. Modules from different frameworks and libraries have many similar functions. Your building blocks are made of plastic and theirs are made of wood. If API can be matched, it can be used universally. From the perspective of blockchain developers, the development efficiency is greatly improved, and the stability is ensured in general.

The NGK protocol layering includes consensus management layer, block tree management layer, interchain processing layer, transaction processing layer, data format layer, peer-to-peer network, and the Internet protocol layer.

The components of the NGK system are pluggable consensus models, pluggable business logic containers, database management components, database operation components, database query components, shared peer-to-peer network services, full nodes for blockchain processing, light node cold and hot wallet, and browser wallet;

The NGK platform introduces a unique main chain and side chain model. Blockchain S is regarded as a side chain of another blockchain M. If S satisfies: Awareness: The S’s full node is also M’s full node, and all transactions of M are processed in synchronization: S follows the synchronization of M. Correspondingly, M is regarded as the main chain of S.

The synchronization handles the block ordering problem between two blockchain platforms. Imagine that the blockchain is an abstract clock, and each block ticks for a responding clock. It is called an abstract clock because it has nothing to do with the local timestamp written into the block. The timestamp is a local value, and it cannot determine the correct sequence of events globally. The block height in the blockchain can determine a global time series. Observers can safely assume that the event in the previous block always occurs before the event in the next block, regardless of the timestamps of the two blocks.

The NGK platform plans to provide the toolkit needed to build a blockchain for applications. The blockchain template allows users to choose from different protocol parameters and pluggable components (e.g. consensus models). Once the template and options are determined, the toolkit provided by the NGK platform may even deploy a brand new blockchain for the application before the specific business logic required by the application is fully developed.

[ngkio]

How does NGK blockchain solve user privacy issues?

According to earlier statistics, the global scale of blockchain spending in the past year reached US$4 billion, nearly doubled compared to 2019. Blockchain uses smart contracts to verify data and provide transparency between network participants through immutable shared data, which has attracted widespread attention from countries around the world.

However, everything is a double-edged sword, and it is the same in blockchain. The widespread application of blockchain has been celebrated by everyone, and on the other hand, the technology of blockchain has also been questioned by many companies. Some companies are skeptical about sharing sensitive data on ledgers where information cannot be deleted. Fortunately, the NGK blockchain uses its own top-notch technology to show these companies the security of blockchain technology, and how blockchain technology protects the users’ data privacy.

1. Anonymize the data storage

The easiest way to avoid the problem of data privacy leakage is do not publicly store the data on the chain. Each data stored on the NGK blockchain will have a shared anonymous ID. If a user or a company wants to obtain the data, they must this ID to obtain data from another system. For example, a supply chain piloted in a strictly regulated pharmaceutical industry uses the NGK blockchain to track the medicine transactions, and then uses another private peer-to-peer application to transmit detailed information about medicine. In fact, only the anonymous identifier of the medicine is passed on the NGK blockchain. This allows companies to regulate data access and uses proven methods to protect the sensitive data.

2. Use NGK blockchain for verification instead of sharing

The real power of the NGK blockchain lies in its ability to verify data. In addition to putting the actual information on the chain, the solution can combine the unique elements of the data and share its hash value on the NGK blockchain. Hashing is an encryption method that generates random unique values ​​from the input. In this case, the generated hash itself will not display any information, but it can verify the existing document by checking whether the same hash is generated when input into the function. Besides, the selection of data input is permitted. No critical information is sampled to create a hash and comply with the regulations. However, although companies can have a reliable data exchange method, the verification time takes too long, and the cost is too high. Therefore, if companies use NGK blockchain as a validator instead of sharing, it will greatly save time and capital costs, and improve the efficiency of data acquisition.

3. Use zero-knowledge proof to protect data privacy

Based on the two trends above, the NGK blockchain project team members took additional steps to protect data security and replaced the hash transaction details with zero-knowledge proofs. The zero-knowledge proof allows transactions to be verified without disclosing the transaction details. At the same time, it integrates ring signatures to meet the privacy protection requirements for different application scenarios. Now, the NGK blockchain has realized the characteristics of anonymity to store corporate data, thereby avoiding being tracked and cracked.

4. Conclusion remarks

Blockchain technology is gradually moving towards the public’s vision, and gradually affecting the everyone’s work and life. The NGK blockchain continues to innovate technology and improve the ecology. It is committed to providing a safer and more efficient platform for many users.

[ngkio]

NGKEX: A DEX platform that truly embodies on-chain governance

DeFi is like a stone, and its rise has caused ripples on the blockchain. Today, this small ripple has already set off stormy waves, and this wave is driven by the DEX.

1. DEX is under a rapid development

The latest data shows that the total transaction volume of DEX in the most recent year reached US$355 billion. Among them, the total trading volume in the first three months of this year exceeded US$200 billion. Compare the same period data in 2019 and 2020, the DEX field shows an exponential growth trend in 2021.

The explosion of DEX stems from the continuous growth of the DeFi ecosystem, as well as the success of decentralized exchanges such as Uniswap and NGKEX. The wealth effect it brings has impacted the dominance of CEX to a certain extent, especially its uniqueness. The success of the AMM (i.e. automated market maker) mechanism and liquidity mining model proved the great value that its innovation can bring.

NGKEX abandons the traditional order book model and improves the effective utilization of funds. The difference between NGKEX and CEX is mainly reflected in the technology and governance. From a technical perspective, the NGKEX is a DAPP built on the blockchain, which implements two modules of asset management and transaction through smart contracts. From the governance perspective, the NGKEX is a community-driven, open, and decentralized organization with highly distributed rights and obligations.

2. The fleeting opportunity for wealth

At present, NGKEX is under the stage of rapid development. Although NGKEX is still in the early stage of development based on the market value of traditional CEX, the development space and value of NGKEX are immeasurable judging from the DEX field. However, the NGKEX is still relatively small in terms of the current volume. Ecological builders can participate in the liquidity investment of the project as soon as possible, and they can obtain more stable and sustainable returns than cryptocurrency investment. If you enter NGKEX early, you can obtain early advantages. So, if you had missed the mining and airdrops of BGV, SPC and VAST before, then you must not miss NGKEX again this time.

At present, in addition to supporting currency trading and OTC trading, NGKEX also supports the transactions of mainstream tokens on the NGK blockchain. Ecological builders can make early arrangements and obtain early profits. In addition, the NGKEX will also launch platform governance tokens in the future. At that time, ecological builders who have entered the NGKEX market early can obtain governance tokens.

After obtaining platform governance tokens, you will obtain:

1. Participation rights: The participation rights of users who hold governance tokens is definitely higher than ordinary users. The token holders have their own halo so that they have a better position in the community.

2. Decision rights: In determining the future development direction of the community, they will also have a higher right to speak, and they can better participate in the pre-development of the project.

3. Revenue rights: Governance tokens also have value appreciation space. The sooner you obtain the governance tokens, the more dividends you can get, and enjoy the benefits from the growing token price.

NGKEX is a decentralized trading platform that has been verified to be highly compatible with the market. When NGKEX’s daily trading volume can be benchmarked against Uniswap, the investment returns for the ecological builders who participated in the market earlier will double. Thus, we are standing in front of the DEX opportunity, join it now, and the next legendary myth is you!