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Update | imToken 2.4.11: Introducing Multi-Chain Domains

Update | imToken 2.4.11: Introducing Multi-Chain Domains

Gradually into the late autumn, take a cup of hot tea and take a look at the updated content of 2.4.11. imToken 2.4.11 Update: You can now copy or share the wallet address more easily on the receive page You can now transfer BTC/ETH to friends, a domain name is enough! With our support of .eth /.zil multichain domains imKey supports BTC OP_RETURN More optimization and repair   Receive page optimization, copy/share address in one go In imToken 2.4.10, we have completed the optimization of the new user experience, making the wallet creation, import/backup process even smoother. In this version you can copy or share addresses more easily on the receive page.   How to enter the receive page: Select any wallet, tap the wallet address at the top of the wallet to display Slide to the right on the asset to receive, such as DAI (Note: ETH wallet address can be used to receive all ERC 20 tokens)                                                       (Left: tap the top address of the wallet)     (Right: right slide display)   Multi-chain transfer, one domain name is enough Maybe you remember ENS as the "easy to remember Ethereum address", which makes it easy to remember the long list of random numbers and letters that is an Ethereum address. Surprisingly, after more than two years of development, ENS now supports multiple cryptocurrencies. This means that when you transfer money to a friend, you don't need to fill in the address of the wallet, for any chain: Bitcoin, EOS, Ethereum, you name it. If you transfer tokens in imToken 2.4.11, enter a .eth /.zil multi-chain domain name for improved efficiency. Not sure what is parsing? Simply put, Alice has an ENS short domain name (balabala.eth). When Bob transfers, the short domain name is filled in the payment address. imToken will automatically parse the domain name according to the parameters, and find the corresponding ETH wallet address: 0xda1d0c7f174effba98ea1e31424418dc9aeaea22. Of course, if you fill in a domain name that does not exist, you will get an error saying "The wallet address of the ENS domain name could not be found". 📌 How to buy ENS domains? Select the "Browse" page - Find the "ENS" DApp under "Tools" and search for a name. Find the tutorial for a complete guide on how to purchase.   imKey supports BTC OP_RETURN Following imToken in supporting BTC OP_RETURN, imKey also completed support. In simple terms, OP_RETURN is a function of "storing information" on the Bitcoin network, i.e. by writing hexadecimal characters to the Bitcoin network. With "OP_RETURN" the irreversible advantages of the BTC network can be used to permanently record important information on the blockchain, or to perform special operations (such as ChainX mining, imBTC subscriptions, etc.). The imBTC issuance phase is over, but you can still get the interest by purchasing imBTC on Tokenlon: How to purchase imBTC: Select the "Marketing" page - Use ETH / USDT in Tokenlon to redeem imBTC imBTC Details: Select "Browse" page - Open "imBTC" DApp - all you want to know is here Read how to set up OP_RETURN    How to update to the latest imToken 2.0 Android users: You can download updates on the imToken website: https://token.im iOS users: App store is under review, thank you for your patience :) For 1.0 users, please follow the tutorial below to upgrade 1.0 to 2.0 safely: https://support.token.im/hc/en-us/articles/360013262654 https://medium.com/imtoken/tutorial-step-by-step-guide-for-upgrading-to-imtoken-2-0-dbe3b392242 If you face any difficulty using imToken or have any comments and suggestions for us, please submit your feedback directly within the app.   Always backup your keys! Before upgrading, please make sure that all wallet identities have been backed up properly. Please write down the Mnemonic phrase on a physical paper, never store it in the network; Please restrain from sharing your private key, Mnemonic phrase or Keystore to anyone! If you find potential hacking activities in imToken, please report to us via email at [email protected] to prevent more people from being deceived; Please have a look at our Help Center at https://support.token.im/hc/en-us for more detailed information about imToken.
2019-12-05
Multi-Collateral Dai: How to update you Dai in the upcoming Multi-Collateral Dai upgrade

Multi-Collateral Dai: How to update you Dai in the upcoming Multi-Collateral Dai upgrade

How to prepare for the upgrade — beginning Monday the 18th — and what to expect from the new multi-collateral Dai in your favorite non-custodial wallet. MakerDAO will officially release Multi-Collateral Dai on November 18th. A milestone in the stablecoin field.  With this upgrade, Dai will support more collateral types and the long-awaited Dai Savings Rate (DSR). The collateral types promises to increase the stability of Dai while making various DeFi applications simpler and more economical. How to prepare for the new Dai? On November 18th, 4:00 PM UTC (i.e. 12:00 UTC+8), your Dai tokens will rename to Sai. From that time on, the token symbol Dai will be used for the new Multi-Collateral Dai. You should: Use migrate.makerdao.com - i.e. MakerDAO Migrate in your imToken’s Browser - to exchange your Sai to Dai If your Dai exists in a third-party application such as Compound, you need to extract it before you can migrate After migrating, you can receive interest on your Dai by locking your Dai into the Dai Savings Rate contract in your imToken Browser on the Oasis DApp. New users can directly get Dai through Maker’s official DApp or other markets: The old Dai is now ‘Sai’ Dai (now: Sai) is the first decentralized stablecoin issued on Ethereum. The single collateral Dai is issued by over-collateralized Ethereum, anchoring 1 Dai to a value around 1 US dollar.  The core mechanism incentivizes creation and destruction of outstanding Dai by adjusting the rate with which Dai is borrowed. However, the single-collateral Dai (Sai) depends on the price of ETH. If there is a black swan event in the market, the short-term sharp decline in ETH price may affect the stability of Dai. The chart shows the price fluctuations of Dai in the past year Introducing multi-collateral Dai Multi-Collateral Dai (now: Dai) is different from Dai (now: Sai) in the following two aspects. Multi-Collateral Dai supports a wider range of crypto as collateral, hence the name Multi-Collateral Dai adds a Dai Savings Rate (DSR): A way to receive interest on Dai that is locked in a smart contract Multi-Collateral Dai uses Auctions and Keepers to prevent both debt and surplus from building beyond certain points Using more collateral types aims to increase the stability of Dai, and helps to offer higher supply. Oversimplified, each collateral token has different price swings, which makes the average more stable than that of just one collateral type. The first collateral types will be ETH and BAT, and new collateral type will be voted in through the MakerDAO governance. By adding the Dai Savings Rate (DSR),the MakerDAO team is adding another governance tool to adjust the behavior of Dai holder. As DSR is interest that Dai holders get by locking Dai, the DSR can influence the price of Dai from the demand side in two ways: If the market price of Dai is below 1 USD, the Dai Savings Rate will increase. This boosts demand, which should increase the market price of Dai up towards the 1 USD target price. If the market price of Dai is above 1 USD, the Dai Savings Rate will decrease. This stifles demand, which should reduce the market price of Dai down towards the 1 USD target price. In addition, the single-collateral Dai uses a clearing mechanism to sell collateral at a discount. For better price discovery, the multi-collateral Dai will use an auction clearing mechanism, thereby reducing the risk of the collateral falling sharply in a short period of time. What you can do with the new Dai 1. Lock Dai to Obtain Interest Any holder can lock Dai into the Dai Savings Rate contract and receive interest.  You can unlock Dai and receive the interest earned from the deposit rate contract at any time. For example, deposit 100 Dai at a deposit rate of 5% per year and withdraw 105 Dai after 12 months.   2. Deposit into the lending market Currently, the DeFi market offers a series of decentralized lending applications. For example, both Compound and Dharma support Dai, and users can deposit Dai into such lending applications to earn interest. At present, Compound locks more than 21 million Dai, with an annualized income of 4.98%. The annualized revenue of Compound will change according to market supply and demand. 3. Leverage Your Collateral There are a couple of tools, such as dydx, that make it easy to invest into ETH with Dai you lend for ETH. However, leveraged trading is a high risk, so please be cautious.   See you on November 18th! 😉  
2019-12-06
What is the difference between Proof of work and Proof of Stake?

What is the difference between Proof of work and Proof of Stake?

In this article we want to answer what is Proof of Work, and why do blockchains such as Bitcoin need Proof of Work? How is Proof of Stake different to Proof of Work? Is Proof of Work really using so much electricity while Proof of Stake doesn’t? Proof of Work is a consensus mechanism Each blockchain is an (more or less) immutable ledger. Any person can write data onto that ledger. In the case of Bitcoin this data is bitcoin transactions between real people. While blockchains vary a lot, each and every one of them tries to solve at least 3 basic problems:  Keeping the ledger consistent, i.e. making sure that everybody participating sees exactly the same blocks,  Keeping the ledger immutable, i.e. making sure that no single person can change a transaction of the past, Verifying that all transactions follow basic rules Now, the rules defined within the software make sure that blockchains meet these goals. Participants run the software and therefore follow the rules. Consensus algorithms are one category of rules. They aim to achieve agreement between all participants on what that current blockchain actually looks like. To be specific, consensus algorithms define how exactly new blocks are added to the blockchain. Proof of Work is one group of consensus algorithms that we want to take a closer look at below. Starting from here, we are assuming you read the basics on blockchains. If you are a little uncomfortable with words such as blocks, miner or hashes, feel free to first read an introduction of blockchain here. A consensus mechanism is a part of each blockchain If you are familiar with the basics of blockchains, you have heard about consensus mechanisms, such as Proof of Work. Consensus mechanisms basically tackle two specific problems. First, as a blockchain user (e.g. bitcoin holder) you don’t want somebody to rewrite history. That is, you don’t want someone to delete the bitcoin transfer of Alice sending you 1 BTC 10 minutes ago and sending it (i.e. the exact same 1 BTC) to somebody else again. Instead you want to be sure that the BTC (or any other crypto token) on your account balance is really owned by you. To ensure that nobody takes back a transaction, you want to make it very expensive to override old blocks. Or: You want to incentivize miners to always build on top of the latest block, adding a certainty with each new confirmed block. As the latest blocks always fight for being continued on top, the idea of building on the truly latest block is also called: Building on the longest chain. Second, you want to make sure that miners are incentivized to continue creating new blocks. The party of confirming transactions shouldn’t stop. For bitcoin, at least in the short term, the block rewards are a big enough incentive for miners to continue mining. Note that consensus algorithms are often claimed to serve the purpose of creating new currency. However creating new currency really happens for the purpose of creating value for miners. Bitcoin for example will stop creating new bitcoin at some point around the year 2140 after 21 million Bitcoins have been mined. How does Proof of Work actually work? PoW is actually older than Bitcoin itself. In fact, the original idea was published by Cynthia Dwork and Moni Naor in 1993. The term “Proof of Work” itself was coined by Markus Jakobsson and Ari Juels later in 1999. In general a Proof of Work computation is proving that work happened. Smart isn’t it?  In blockchains miners are proving that they spend some money on electricity (and mining hardware), which assures the solution of the two problems mentioned above. How does it solve the problems? Well, Proof of Work lets us know for sure that it’s very expensive for a miner to rewrite an old block. In fact, the older a block, the more expensive it gets for a miner to not build on top of the latest but instead of the older block.  Why? Because as a miner you are in a constant race against other miners for the latest block reward. In fact you would need roughly 51% of all block production power for a good chance to win against all other miners. That is often called a ‘51% attack’ of a blockchain, and is used as a measurement of security in terms of how much money a hacker would have to spend to re-write history and ‘double spend’ money (what we called rewriting history in the example above). Technically speaking, doing Proof of Work as a miner means solving a hard mathematical problem with an easy proof. This might sound hard to comprehend, however is straight-forward: A miner basically calculates the hash of the current block including a random number. Starting with 0 as the random number he then uses a different number so long until the hash meets a certain criteria such as starting with 00000000. The first miner who calculates a hash that randomly satisfies this rule, wins and publishes the block to all the other miners, who then verify very easily that in fact the hash is correct and then move on to produce the next block. Why hasn’t the energy problem of Proof of Work been solved? You might have heard that Proof of Work uses a lot of energy and that is correct. The consumed electricity for mining bitcoins compares to something like the energy consumption of a smaller nation state. However as we saw in our explanation above, consuming the electricity is in itself purpose of the Proof of Work consensus algorithm. Now, how does Proof of Stake comes into play?  You might have heard about Proof of Stake as a solution to the energy problem. In fact, Proof of Stake is solving the exact same problems that Proof of Work was designed to solve. It does, however, solve them in different ways, and that is what we take a look at below. What is Proof of Stake? How is Proof of Stake different? A blockchain using Proof of Work as a consensus algorithm is secured by the fact that miners risk losing money. Again, a miner who doesn’t follow the rules of adding new blocks to the longest chain might lose money as does a miner how deliberately tries to spend one BTC two times (i.e. double spend attack). While a miner of a Proof of Work blockchain loses money in form of electricity and hardware costs, a miner of a Proof of Stake blockchain simply loses money. Why? Because in Proof of Stake, validators (as the miners of a Proof of Stake chain are called) stake money - mostly the native currency of the blockchain -  on the promise to follow the rules. Proof of Stake validators receive block rewards in proportion to their stakes, while Proof of Work miners receive them roughly in proportion to their hashing power. Proof of Stake validators lock money on the blockchain, while Proof of Work miners buy computers and spend electricity to be committed to following the rules. This makes Proof of Stake largely virtual. While some computers still validate other rules a blockchain needs to follow, the computing power needed is way smaller than the computing power for Proof of Work mining. Therefore, Proof of Stake indeed solves the energy problem that comes with Proof of Work. However, having staked native currency of the blockchain on top of that blockchain itself brings completely new challenges with it. And that’s the reason why a lot of today’s blockchain research aims to find ways to optimize Proof of Stake consensus algorithms. Read more on challenges of Proof of Stake with the example of Ethereum:  https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ In summary, Proof of Work vs. Proof of Stake comes down to energy consumption and difference in difficulty In the end, Proof of Stake comes with two major benefits. First the energy savings. The energy consumption that are the basis of any Proof of Work blockchain, simply doesn’t exist in Proof of Stake blockchains. Second, Proof of Stake consensus algorithm, however not completely solved yet, brings more opportunity in defining how the consensus works: Attacks can be made more expensive while block confirmations can be made faster while preserving the same promises of securing your coins. As of December 2019, there are a couple of blockchains researching Proof of Stake. Ethereum, the most used smart contract blockchain, is in the process of merging Proof of Stake into their currently existing Proof of Work blockchain. If you are interested in the very latest developments of that Proof of Stake development, we suggest to check out the latest Ethereum Proof of Stake updates at the Ethereum Foundation blog.
2019-12-06
imToken supports the upcoming Ethereum Istanbul update

imToken supports the upcoming Ethereum Istanbul update

Good news: The Ethereum blockchain will update to the next level. Great news: All imToken users can enjoy the update without any effort. The Ethereum network will be undergoing a scheduled upgrade at block number 9,069,000, which is predicted to occur on Saturday, December 7, 2019. The exact date is subject to change due to variable block times and timezones. Check https://cn.etherscan.com/block/countdown/9069000 for a countdown to the event. What should I do as an imToken user? Just like any other Ethereum update, Istanbul is supported by imToken. As a user you neither have to worry nor do anything. But why an update? What changes for me? The Istanbul network update is technically speaking a scheduled hardfork of the Ethereum blockchain. As such, it will include a couple of updates that previously went through the governance process in form of Ethereum Improvement Proposals (short: EIP). Check https://eips.ethereum.org/EIPS/eip-1679 to find a list of updates, or read the articles linked below for more details. In short, the changes that go into the update:EIP-152: Add Blake2 compression function ‘F’ precompile. Helps with interoperability between Ethereum and Zcash as well as other Equihash-based PoW coinsEIP-1108: Reduce alt_bn128 precompile gas costs. Makes certain privacy solutions and scaling solutions cheaper, including Matter labs, Aztec Protocol, ZK Rollup and ZetherEIP-1344: Add ChainID opcode, allowing contracts used in Layer 2 protocols such as Plasma to track the correct chain, especially during hard forkingEIP-1884: Repricing for trie-size-dependent opcodes. Prices are always optimized for a trade-off between DDOS resistance and smart contract usage costsEIP-2028: Calldata gas cost reduction. Helps with zk-STARKs applications.EIP-2200: Rebalance net-metered SSTORE gas cost with consideration of SLOAD gas cost change Read more Ethereum Istanbul Upgrade AnnouncementIstanbul Testnets Are Coming!
2019-12-04
What is a non-custodial crypto wallet?

What is a non-custodial crypto wallet?

The Oxford dictionary description for custody is as follows: custody; noun: The protective care or guardianship of someone or something. Custodial wallets are products and services that hold your cryptocurrency in trust, and let you access it. Non-custodial wallets, however, let you control your own bitcoin, ethereum or other crypto solely as a tool, leaving full control of the funds in your own hands. While using a custodial wallet or exchange looks similar to using a regular bank account, using a non-custodial wallet is more like using a tool to send, receive and make use of your own funds solely without contacting any other party: Without logins, passwords. Some people call non-custodial wallets ‘decentralized wallets’, as controlling your own funds aligns with the spirit of decentralized power of decision making. However, the term ‘decentralized’ is correctly used in the context of blockchains, the underlying technology that wallets provide access to. What are custodial wallets? Now, let’s take a look at custodial wallets. There are two categories of companies that offer custody of cryptocurrency: Crypto exchanges and custodial wallet apps or websites. Often simply called ‘wallets’, custodial wallet services are companies that store your private keys on their own servers. The main advantage of custodial wallets is that they might be able to recover your wallet in case of lost passwords. If, however, a custody service loses your funds or gets them stolen, the company won’t be able to recover those by themselves. Sadly, later happens more often than we would like: Alone in 2018, $856 million worth of crypto has been stolen from exchanges. While this allows for hacks, custodial wallets might also simply lose your money, or freeze your accounts. What are non-custodial wallets? While custodial wallets and exchange accounts hold your crypto in their own accounts, non-custodial wallets give you full control over your funds. For example: imToken is a non-custodial wallet app. Opening it the first time will ask you to backup your secret Mnemonic phrase (which is similar to the private key), allowing you to restore your crypto account with any wallet at any time. Therefore, you stay in full control of your own account. How do non-custodial wallets work under the hood? Your private keys - the keys that proof ownership of your crypto address on the blockchain - are encrypted and securely stored on your device, and never leave it. As you are in full control of this private keys, you are also in full control over your money. However, the great possibility of owning control over your own funds, means that you need to take great care of your private key. If you lose it, you will never be able to restore access to your funds. For example, in case you lose your phone or if you delete the app, you will be able to recover the access only with your private key (or ‘seed phrase’ or ‘Mnemonic seed’). Learn more about what Mnemonic seed phrase and private keys are here. How to securely store your private key and Mnemonic seed phrase? Please backup your Mnemonic and private key in a secure place. A secure place is not accessible from the internet, maybe on a piece of paper. If you want to store a backup on a computer, then make sure that the key is encrypted with a password, and better not connected to the internet.
2019-11-25
Progress Update | 2019/11/12 - imToken 2.4.10, imBTC, imToken’s Club

Progress Update | 2019/11/12 - imToken 2.4.10, imBTC, imToken’s Club

imToken 2.4.10: Even Easier Onboarding The threshold between using the traditional Internet and blockchain is real and high, and the terms ‘public-private key’, ‘Mnemonic’ are confusing to any new user. We can't remove these obstacles for you (yet), but we have paved the way to help you cross the threshold steadily. In version 2.4.10, we optimized the interaction to smooth the onboarding and create a good start for you to understand how to work with blockchain. New user guidance imBTC - A new Bitcoin Over the past ten months, the total value locked in the Ethereum DeFi ecosystem has increased from $274.6M to $616.8M. We are thinking about how to further expand the scale and liquidity of DeFi and find that the best option is to inject the power of BTC into the Ethereum ecosystem. As a result, imBTC came into being.  We hope imBTC can further promote the popularity of DeFi and stimulate the immeasurable potential of this market. Learn more about it here. Introducing imToken’s Club(DAO) As a young team in a young industry, we started a couple of internal clubs, many of which were swarmed as soon as the proposal was issued: CryptoSharing DAO (DAO - Decentralized Autonomous Organization) is a club that encourages blockchain learning and sharing. It encourages people who are willing to share it through the economy, and votes to distribute funds. It is a fork of MolochDAO, which will initially use group voting. Interesting issues we have launched👇 How to get in touch with the blockchain and how to be attracted to it; The complex mechanisms behind bank transfers and the advantages of blockchains; Radical thinking of "radical market". CyclingDAO is a decentralized cycling organization. @outprog spent a day writing a DApp (https://cyclingdao.club/ ), recording the mileage of each rider member, and using it as a monthly reward distribution standard. The more you ride, the more rewards you get. Note: https://github.com/CyclingDAO/contract-fund/blob/master/whitepaper.md  Hiking&MarathonDAO: Shows imTokener's positive life posture through healthy walking and running activities. Climb the surrounding mountains and enjoy the night view of the city. We have climbed ten hills and can climb another hundred. We are a blockchain startup, and we also practice decentralized thoughts in the normal life. For us, blockchain is not only the industry we are engaged in, but also a philosophy of life. Let me guess, you may want to ask "How to join the imToken club" or want to create interesting blockchain projects with us, then imToken welcomes you, 👉 [email protected] We are waiting for you here :) We shared about our Devcon 5 learnings What is Devcon? It is the Ethereum Developers Conference, and this year's Devcon is held in Osaka. imToken squad sharing after the Devcon, learn a whole lot of knowledge Besides Devcon, we also went to the Dragonfly Matchmaking Day as well as Taipei crosslink conference and the 8BTC conference in Wuzhen, China. .. and onboarded a few new DApps EOSDT(Equilibrium) OTCMaker for Dai USDx  Compound in Chinese DefiSaver in Chinese PoolTogether in Chinese DDEX Margin Castle Move USDE NewPool Oasis Trade ENS multichain support Knight Story Superplayer Infinity Star Bidali - Allows you to buy Starbucks and other gift cards with crypto What’s next? We will embark on a multi-chain highway, there you go.
2019-11-29
imBTC: A new kind of Bitcoin

imBTC: A new kind of Bitcoin

DeFi (Decentralized Finance) is the hottest topic in the blockchain industry in 2019, attracting many technical research and capital. Value locked in Ethereum's DeFi ecosystem has reached a total of $616.8 M from $274.6 M at the beginning of the year, with hundreds of thousands of wallet addresses also participating. This year, we also look at some achievements within the DeFi field: Tokenlon DEX launched a three-month transaction volume of $59,696,279, with 25,000 users, and Tokenlon topped DEX rankings a couple of times. The transfer volume of stablecoins in the past 30 days was $994,722,238, of which USDT (ERC20) accounted for 16% of the whole network. At the same time, the application brings millions of dollars in traffic to DeFi applications such as partners Maker CDP and Compound. Being deeply involved in Ethereum's DeFi ecosystem, you will find that BTC has good liquidity on centralized trading platforms and financial services, while DeFi applications on Ethereum lack of quality liquid assets as collateral. Things that cause typical financial applications like Maker CDP and Compound to have a hard time to scale further. Comparing the market value of DeFi, ETH, and BTC, we find that the combination of the liquidity of BTC being placed in the DeFi ecosystem will have immeasurable potential.   What is imBTC? Tokenized BTC is able to work with smart contracts, seamlessly integrate into decentralized transactions and financial services, while injecting liquidity into the Ethereum ecosystem. Imagine that this programmable bitcoin you own will seamlessly interact with smart contracts, whether DeFi, staking, or DEXs. In addition, the token also has a 15s block confirmation time, as well as real-time earnings. Like bitcoin, but without the downsides of Bitcoin. A new kind of Bitcoin. We at Tokenlon named the project's token imBTC, which is an Ethereum Token issued with an 1:1 anchor to BTC. The holder can transfer, redeem, exchange imBTC as well as receive an income share of the Tokenlon platform fees while holding imBTC.   imBTC's features In order to give you a better understanding of imBTC, we will briefly introduce the following points. Deposit to receive imBTC If you want to get imBTC, you simply send BTC. It is that simple. At the same time, you can also destroy imBTC through the DApp or directly call the smart contract. Just wait a moment and you will receive your BTC. There is no authentication needed, no lock-up period, everything feels swift and easy. We hope that the low friction in the process makes imBTC a financial asset that is more accessible for the general public, not just geeks.     Enjoy instant income The tokens is accruing value which is added to the Token value. Since storage costs and trading risks can make your blockchain assets volatile, with no interest rate mechanism to offset these costs, holding a token is not incentivized. We wish that imBTC holders will benefit from the liquidity of imBTC. Therefore, we will distribute the transaction fee from purchasing imBTC on Tokenlon to users who hold imBTC. When a user purchases imBTC at Tokenlon DEX, the smart contract deducts 0.3% imBTC as a transaction fee, and the commission will accumulate in the smart contract. Any user can initiate a dividend request through the DApp or directly to the imBTC smart contract. At this time, the smart contract will automatically pay dividends according to the imBTC currency ratio, and the wallet address holding imBTC will receive the corresponding interest.   imBTC Dividend Algorithm Note: exchangeRate defaults to 1. For example, Tokenlon issues 100 imBTC and Alice holds 10 imBTC. When Tokenlon receives 1 imBTC fee, exchangeRate is 1 * (100 / (100–1)) = 1.0101.At this point Alice will receive a dividend of 10 * 1.0101–10 = 0.10101 imBTC, and her balance will be 10.10101 imBTC after the dividend.   Seamlessly exchanged Tokenlon DEX is based on the 0x smart contract. Its innovative mechanism creates a fast, best-price trading experience. The trading assets are completely controlled by the user, and the Token exchange can be completed quickly without recharging or withdrawing. Users with imBTC can quickly trade tokens on the Tokenlon DEX, enriching your portfolio and spreading the risk of price fluctuations.     Trusted and transparent The hosted address of the imBTC will be publicly released. Through the Proof of Reserve on the chain, all imBTC issuance and destruction can be clearly tracked, and the BTC reserve is guaranteed to be 1:1. Anyone can openly audit, fully transparent. However, we admit that the current imBTC is still not perfect, as is the case with most blockchain financial products. Due to the limitations of blockchain technology, it is impossible to achieve both the ideal decentralization and ease of use. Therefore, we choose to adhere to the principle of security and transparency, and temporarily use centralized hosting to make imBTC easy to use, so as to better popularize usage. At the same time, Tokenlon is also planning on how to transform centralized hosting into a DAO (decentralized autonomous organization) hosting solution that remains decentralized, yet easy to use. We believe that with the development of blockchain technology, we can work hard to make decentralization a reality. Future outlook imBTC, as a Tokenlon project, is currently online on imToken 2.0. Open imToken to experience transfer, redemption, redemption, etc. while holding imBTC, while enjoying instant benefits. The birth of imBTC is not out of thin air, but based on the past experience and precipitation of the blockchain community. We sincerely thank WBTC, tBTC, EOS REX, Uniswap, Aragon, Polkadot and other projects for their continuous inspiration. We look forward to imBTC coming from the community and giving back to the community, providing better financial application services for each user, and injecting new vitality into the ecology of Ethereum.
2019-11-15
imToken 2.4.10 Released, Create, Import & Backup Easier!

imToken 2.4.10 Released, Create, Import & Backup Easier!

imToken 2.4.10 Update: Optimized, new user experience: Easily complete the wallet creation/import/backup Support BTC OP_RETURN: Store information to the blockchain, and lock for mining New Tokenlon novice guide: quickly get started with decentralized exchange Rating: Welcome to "About Us" to rate imToken. More optimization   Optimized user experience, and easy wallet creation, import, backup In order to reduce the learning cost of new users entering the blockchain world. Older users provide a smoother experience, and imToken has optimized the “onboarding” process. If you download or reinstall imToken 2.4.10 for the first time, you will be pleasantly surprised to discover that the user guide has been completely renewed: The more vivid wallet introduces the core features of imToken in a simple and interesting carousel illustration. A clearer guide Whether it is a new user who "uses the wallet for the first time" or an established user who already has a wallet, both are able to see clear prompts on the front page. Simply click on the bottom of the tutorial to get details "imToken 1.0 migration strategy” More intimate display of the Mnemonic phrase (1) When creating an identity, the Mnemonic will be displayed in 12 squares, avoiding confusion of the sequence and lack of words in the backup; (2) When recovering the identity, you find an auxiliary word association function and word error function. As we support BIP 39, inputting the first few letters of the word is enough, which reduces the cost of inputting the letters one by one; when the word is wrong, the corresponding prompt will appear “The word is invalid/wrong", and the problem can finally be found! BTC OP_RETURN Simply put, OP_RETURN is a function of "storing information" in the Bitcoin network. This function supports writing Hexadecimal information to the Bitcoin network. "OP_RETURN" can use the irreversibility as advantage of the BTC network to permanently record important information or use this information to perform special operations (such as ChainX mining and more). Click to learn 👉 How to set up OP_RETURN   New Tokenlon novice guide: Quickly get started with the DEX The new Tokenlon novice guide teaches you the concept of a “miner fee”, “authorization” and “handling fee” of the DEX. How to update to the latest imToken 2.0 Android users: You can download updates on the imToken website: https://token.im iOS users: App store is under review, thank you for your patience :)   For 1.0 users, please follow the tutorial below to upgrade 1.0 to 2.0 safely: https://support.token.im/hc/en-us/articles/360013262654 https://medium.com/imtoken/tutorial-step-by-step-guide-for-upgrading-to-imtoken-2-0-dbe3b392242 If you face any difficulty using imToken or have any comments and suggestions for us, please submit your feedback directly within the app.   Always backup your keys! Before upgrading, please make sure that all wallet identities have been backed up properly. Please write down the Mnemonic phrase on a physical paper, never store it in the network; Please restrain from sharing your private key, Mnemonic phrase or Keystore to anyone! If you find potential hacking activities in imToken, please report to us via email at [email protected] to prevent more people from being deceived; Please have a look at our Help Center at https://support.token.im/hc/en-us for more detailed information about imToken.  
2019-10-31
imToken 2.4.6 - introducing the new Tokenlon

imToken 2.4.6 - introducing the new Tokenlon

imToken 2.4.6 update: Officially releasing Tokenlon to the public - download imToken and trade on our decentralized exchange UX upgrade for the Market tab, enabling you to trade faster and well-informed Tokenlon Public With the release of Tokenlon, we removed Kyber's entry on the Market tab, though you can still use KyberSwap in the Browse tab to experience Kyber's smooth service. How to get started with Tokenlon Better price and better depth Tokenlon market makers provide a best-price quote at any time. Use Tokenlon - Win prizes! Together with Tokenlon's public release, we are starting to give out prizes for all traders. Make sure to upgrade to the latest imToken version and visit the Market tab! More Campaign details: https://support.token.im/hc/en-us/articles/360033810033  Market tab revision The market naturally carries the DeFi attribute and is especially important for wallet users. In this update, we will separately provide announcements and activity promotion banner under ‘Market’ to inform you about the status of Tokenlon and deliver you the latest market infos. Like always, we are looking forward to working with you to bring attention to good blockchain projects, and let users experience the most popular projects in the community as early as possible. How to update to the latest imToken 2.0 Android: Download from imToken website: https://token.im; iOS: Download from App Store. For 1.0 users, please follow the tutorial below to upgrade 1.0 to 2.0 safely: https://support.token.im/hc/en-us/articles/360013262654 https://medium.com/imtoken/tutorial-step-by-step-guide-for-upgrading-to-imtoken-2-0-dbe3b392242  If you face any difficulty using imToken or have any comments and suggestions for us, please submit your feedback directly within the app.  Always back up your keys! Before upgrading, please make sure that all wallet identities have been backed up properly. Please write down the Mnemonic phrase on a physical paper, never store it in the network; Please restrain from sharing your private key, Mnemonic phrase or Keystore to anyone! If you find potential hacking activities in imToken, please report to us via email at [email protected] to prevent more people from being deceived; Please have a look at our Help Center at https://support.token.im/hc/en-us for more detailed information about imToken.
2019-10-30

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