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imToken 2.5.1, Tokenlon transaction rate is as low as 0.1%

imToken 2.5.1, Tokenlon transaction rate is as low as 0.1%

imToken wishes you a happy Chinese New Year, auspicious year of the rat. The Spring Festival is coming, the time when a country of 1.3 billion people is on the road home  ✈️ 🚗🚄 We want to take the opportunity and take a look at the new version of imToken and what the Updates bring. imToken 2.5.1 update content: Optimize Tokenlon fees: As low as $ 3 can complete a transaction on Tokenlon now More attractive transaction rates, as low as 0.1% You can import and export TRON, BCH, LTC wallet private keys You can switch the BCH address format and easily transfer BCH from exchange into imToken Optimize EOS resource management, you can use Alipay and WeChat to quickly lease CPU resources For developers: Fix DApp Browser scanning problem Tokenlon fee optimization imToken 2.5.1 features a Tokenlon fee optimization, with which you can complete transactions in Tokenlon with as low a fee as $3.  At the same time, new transaction levels were introduced: The more transactions you accumulated over the past 30 days using Tokenlon, the higher the corresponding transaction level and the lower the fee, which can be as low as 0.1%! For a detailed transaction rate introduction see the fee table.  Import and export TRON, BCH, LTC wallet Private Keys This optimization adds the TRON, BCH, LTC wallet private key import and export functions, making it easier to import imToken from other wallets.  Watch the screenshot below to learn how to import / import private keys     Switch your BCH address format Your BCH receipt page now supports BCH in two address formats: CashAddr and Legacy. Switch the address format to easily transfer your BCH out of any exchange into imToken. What is the BCH CashAddr and Legacy Address Format? 👇 CashAddr:CashAddr is a new Bitcoin Cash address format that helps distinguish between BCH addresses and BTC addresses. This can prevent users from accidentally transferring BCH to BTC address, so as not to cause unnecessary trouble. For example: bitcoincash: qpg6rgmpxr838cnwjhatdyuxkdz644xku54fe5yk99 Legacy: Although many exchanges and wallets use CashAddr, some exchanges have not adopted it (such as Huobi). If you do not support the CashAddr address format, you can choose the legacy address format. For example: 16tp827qst72hPT2MUKgCWNdE4E9HqVVuF to Optimized EOS resource management. Use Alipay and WeChat to quickly lease CPU resources Select your EOS wallet and click ‘Resource Management' on the asset homepage. You will now see the "CPU Lease" entrance at the bottom.  Here you can use Alipay and WeChat to lease CPU resources quickly, and use EOS Easy Payment CPU service to pay for the resources required for a single transfer operation with EOS, an easy way for solving the urgent need to send tokens. How to update Android users: You can download from the official website https://token.im or at your favorite app store iOS users: You can download from the 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 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.
2020-02-20
Buy crypto with fiat, now on imToken

Buy crypto with fiat, now on imToken

Fiat-to-crypto by MoonPay: Purchase BTC, ETH, EOS & more with fiat in over 40 countries (including 🇬🇧 🇪🇺 🇺🇸 🇦🇺) We are thrilled to introduce a natively integrated fiat-to-crypto gateway powered by MoonPay. This added feature will allow imToken users in more than 40 countries to purchase BTC, ETH, EOS and many more digital assets with fiat. With the simple and fast fiat-to-crypto, we are looking forward to lowering the barrier-to-entry for our users again and bringing the crypto to a broader audience. To get started Open up your imToken app. Visit the Asset Details screen of your selected asset. Click on the Exchange button and select Buy xxx. Input the $ amount you want to purchase and follow the instructions. Supported Assets BTC, ETH, EOS, LTC, PAX, TRX, TUSD, USDC, USDT, BAT, DAI, EOSDT, and ATOM. Supported Countries 🇬🇧 United Kingdom 🇪🇺 Most of Europe 🇺🇸 Most of the USA 🇦🇺 Australia 🇧🇷 Brazil 🇨🇦 Canada 🇭🇰 HK 🇯🇵 Japan 🇲🇽 Mexico 🇷🇺 Russia 🇿🇦 South Africa 🇰🇷 South Korea and more. Click here to see the full list of supported countries. Pricing 4.5 % of each purchase or a $4.99 minimum fee will be collected by MoonPay. About MoonPay MoonPay is a fintech company that enables web and mobile developers to let their users purchase virtual currencies using their everyday credit card. It integrates with banks and online crypto exchanges to fulfil the entire purchase process.
2020-01-23
BCH now on imToken!

BCH now on imToken!

We are happy to announce that Bitcoin Cash (BCH) is now available on imToken With the latest update, we are introducing support for a number of new tokens, including Bitcoin Cash, also known as BCH. About BCH Bitcoin Cash (also: BCH) is a fork of Bitcoin that was created in 2017. In 2018 Bitcoin Cash forked again into Bitcoin Cash and Bitcoin SV.  How is BCH different from BTC and what is the story behind BCH? The main difference between BCH and Bitcoin is the block size, with BCH currently supporting a block size up to 32M. The bigger blog size leads to more transactions confirmed per block which in turn leads to a lower cost per transaction. In comparison to Bitcoin, Bitcoin Cash aims to offer digital cash, an easy way for users to pay merchants and send - also smaller transactions - to other BCH users. This mission also fits the original promise of Bitcoin as "Peer-to-Peer Electronic Cash".  To this day BCH is already accepted by thousands of merchants across the world with the community aiming to get more on board. Source: https://bitinfocharts.com/comparison/transactionfees-btc-bch.html#6m  So, where does BCH actually come from? Due to transaction frequency and block size restrictions, Bitcoin (short: BTC) can handle roughly one 7 transactions per second.  When bitcoin transaction fees in 2016 and 2017 were getting higher and higher, some developers in the Bitcoin community, including Roger Ver, Jihan Wu and other investors, believed that if the block size would not increase, BTC will become a digital investment product and cannot be used as a payment method for ordinary people. To solve the problem of high transaction fees, Bitcoin Core is working on implementing SegWit + Lightning. Other camps in the blockchain community, however, insisted that an expansion of block size was the only viable solution. Roger Ver, as well as many investors and miners, were dissatisfied with the SegWit proposal and finally decided to hard fork bitcoin. In August 2017, at bitcoin’s block number 478559, BCH was released featuring a block size limit of eight megabytes. Currently, BCH holds the position of developing a block size limit of 32 megabytes. How do I open a BCH wallet? Do you want to store your BCH in imToken? Simply download imToken in your favorite app store, open the app and set up your first wallet. After that import any existing BCH wallet or create one as part of your already created imToken wallet. Your new wallet has a BCH address to which you can send existing BCH from other wallets or exchange accounts. It’s as simple as that. How to backup my BCH wallet? You already store your BCH in imToken and want to make sure to not lose it? There are two possible scenarios. First, if you imported your account from somewhere else, you already used a Private Key or Mnemonic to import. Simply write either one down in a secure place, and you will always be able to use it to get back access to your account, in imToken or other wallets. If you, however, use the BCH wallet that came with your imToken wallet, you can simply back up your Mnemonic phrase attached to your imToken wallet. This one Mnemonic will be able to restore all your accounts that you set up in imToken (excluding the above mentioned imported accounts). If you run into any trouble, feel free to contact our support at: [email protected] About imToken imToken is a feature-rich digital wallet to securely manage ETH, BTC, ATOM, EOS, TRX, CKB, BCH, LTC , and other digital assets. It enables decentralized value exchange and DApp browsing in one place.
2020-02-17
.crypto domains now on imToken

.crypto domains now on imToken

Unstoppable Domains are now on imToken Buy, send & receive funds to any .crypto and .zil domain What is .crypto? .crypto is a new kind of domain. A domain, which unstoppably links to your Ethereum and Zilliqa accounts. Generally, a domain defines the owner of a web address (.com, .org, .gov, .net, etc.). Unlike regular domains, blockchain domains store the records on the blockchain and their main purpose is to: Simplify crypto payments, and Build uncensorable websites How does that help me? The current internet is full of gatekeepers who control our behavior, and who lock us in and out of our digital lives: The big companies hold your money, email and web addresses. Now, .crypto was built to give freedom back to you, the users. Owning a .crypto domain, you can decide what to publish and what transactions you engage in on the internet. No company or 3rd party, including Unstoppable Domains, can take away your domain. With the latest update, Unstoppable Domains’ .crypto domains are finally available on imToken. Open imToken to send a transaction or get your own domain in the imToken DApp Browser or on Unstoppable Domains’ website. Who is Unstoppable Domains? Unstoppable Domains is a San Francisco-based company building domains on blockchains. The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation. How to buy a .crypto domain Follow the step-by-step tutorial below and open your imToken do get .crypto Step 1: Install the imToken wallet on your mobile, set up and link the wallet to your Unstoppable account. To do so follow this guide. Step 2: Open the imToken Wallet application. Navigate to Unstoppable Domains and log in through the Dapp browser. Note that Google Authentication won’t work and you will have to manually log in by typing your email and password. Step 3: Go to ‘My Domains’ Step 4: Select your domain and click on ‘Claim .crypto’. This account only has 1 domain but feel free to select as many as you like. Step 5 : Press ‘Connect’ Step 6: Press on the checkbox ‘I understand’ and click on ‘Confirm’. Step 7: Press on ‘View domains’ and you wait for the claiming process to finish. Step 8: The claim process can take up to 15 minutes to complete depending on the backlog. You will know the claiming is complete when you are allowed to manage the domain. Step 9 : Add cryptocurrency addresses to your domain by going to ‘My Domains’ and clicking on ‘Manage’. Step 10: Copy and paste your cryptocurrency addresses in the respective fields. Step 11 : Press ‘ Save changes’. Step 12 : Press ‘Connect wallet’. Step 13: Confirm the transaction by selecting ‘Authorize Signature’. Step 14: Confirm by entering your password. This alert box will pop up three times. Step 15: Confirm that your addresses are added after the transaction is completed by going to ‘My Domains’ and pressing on the ‘down arrow’.  
2020-01-15
imToken in 2020: 2019 Statistics and Update

imToken in 2020: 2019 Statistics and Update

Insights from 2019 Small App, Big Data 2019 was an inspiring year for us. Our fans stay with us during the growth of the digital asset field as well as crypto bear markets. As pioneers, we are looking forward to a bright new year and would like to share some major checkpoints we crossed throughout the year 2019: Over 9,750,000 devices Cumulative transfers reach 40,797,647 Total value of transfer exceeds $80 billion, which is approximately equal to 1/3 of Singapore's GDP Total value of the coins & tokens at $1.75 billion managed, which is approximately equal to 37 tons of Gold NPS 77.56% Interesting Insights By comparing the value of stablecoin transfers within imToken, the current top 7 are: USDT; PAX; TUSD; USDC; DAI & SAI; USDx; GUSD Top 5 most popular DeFi DApps among imToken users are:imBTC, KyberSwap; Oasis; PoolTogether; Compound This year, we received 36,690 support tickets, and we found that users most frequently ask about: What if I forgot my password? What if imToken can't receive my assets? How do I import a wallet? … if you have more, please check out https://support.token.im or send a message to [email protected] Now, more latest updates Added Support for TRON, NERVOS, BCH, LTC to imToken imToken 2.5.0 supports TRON, NERVOS, BCH, LTC, plus with ETH, BTC, COSMOS, EOS, which are already supported. Now, imToken supports a total of eight blockchains! At the same time, with the release of TokenCoreX, we will continue to accelerate on the road of multi-chain support. Then you can use imToken to complete one-stop asset management. Read more on our blog. Supporting multi-chain domain resolution: .eth and .crypto Just remember a domain name and receive multi-chain assets. If you want to experience such advanced features, ENS and Unstoppable domains are your best choices. Not only is it easy to transfer tokens, blockchain domains will also have more practical uses in the future. Register an exclusive domain name for yourself! Our favorite DApps & news since last community update Knight Story, a game by the makers of EOS Knights, who have been topping DApp charts for over a year. Open their app to play and connect your imToken wallet to store game items on the Ethereum blockchain. MakerDAO had updated their stablecoin from DAI to MCD, a new form with multiple collateral. Read more on our blog. Ethereum upgraded during two updates, one at the end of 2019 and one in early 2020. Read more about those and how we supported it here. 2020 The blockchain is happening, and you must be a solid supporter in this trend if you reading this. We are truly looking forward to having you with us on this journey through the blockchain world.
2020-02-17
imToken 2.5.0 now with NERVOS, TRON, BCH, LTC support

imToken 2.5.0 now with NERVOS, TRON, BCH, LTC support

New chains and new Core in imToken 2.5.0: imToken now supports NERVOS, TRON, BCH, and LTC. Introducing TokenCoreX - New wallet core implementation in Rust Optimized DApp browser Newly added public chains: NERVOS, TRON, BCH, and LTC With the official release of imToken 2.5.0, we are very happy to share with you:  imToken is officially supporting NERVOS, TRON, BCH, LTC, becoming a multi-chain asset management platform with support of 8 major public blockchains. How to create NERVOS, TRON, BCH, LTC wallets? Go to "My Profile" and click "Manage Your Wallet", select "Add Wallet", select the currency you want to add under the identity wallet, enter the wallet password and click confirm. How to import NERVOS, TRON, BCH, LTC wallet ? Similarly, click "Manage Your Wallet", select "Add Wallet" in the bottom right corner, select the wallet you want to import, and use your Mnemonics to import your account. Integrate your blockchain into imToken with the open source wallet core component in Rust - TokenCoreX With imToken 2.5.0, TokenCoreX powers the four newly added public chains. In simple terms TokenCore 2.5 greatly improves the reliability, security, and scalability of the native system by optimizing the underlying core code. With the protection of the underlying technology, we have reasons to believe that in the future, imToken the multi-chain and fine-flow will greatly improve. In the spirit of open technology, TokenCoreX is soon to be completed open sourced for the community it was built for. At the same time, we launch developer-friendly product documentation for public chain developers to be able to easily integrate blockchains into imToken. The fastest way to communicate with imToken technology. Specific enhancements include: Built in one unified development language (Rust) to reduce the development cost of two platforms and multiple languages, for a one-time development; Making wallet management available not only on mobile devices, but other hardware (imKey, Ledger) and servers and web wallets; As Rust is widely used in the blockchain field, it will be easier to access the public chain in the future, meaning imToken will able to em Portal: TokenCoreX source code Optimized new DApp Browser imToken version 2.5.0 supports ETH, EOS, TRON DApps. At the same time, the optimized DApp browser can better meet your personalized needs. Open the "Browse" page and feel the charm of the decentralized world: Search: Enter the URL in the search box to access any DApp. "Hot Search" helps you to catch the recently popular; My Favorites: One-click favorite your DApp, easy to use without searching; Recently used: Display the recently used DApp   Surprise Forecast For 2.5 imToken will launch a week-long surprise event on January 7: One iPhone 11 will be given out a day, and Apple Family Bucket is waiting for you to take home, come to upgrade and participate. 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.  
2020-02-21
Tokenlon - Technical Deep Dive

Tokenlon - Technical Deep Dive

Tokenlon just launched. Now, here is a technical post on how Tokenlon works under the hood. Try on tokenlon.im/instant. Tokenlon decentralized exchange based on 0x protocol sets new standards, designed to give you a final price before you trade. 🐉 In short, Tokenlon is built to be: Fast to trade: As off-chain quotations present final prices Easy to use: As the user sees what he gets, using one-click interface Affordable: As ERC20 tokens are sent out via gasless transactions More secure: No deposit/withdrawal necessary as tokens go wallet-to-wallet via trustless swap Challenges with current DEXs There’s a couple of different DEX models. The biggest one, IDEX, asks the user to deposit tokens into their accounts, which takes time and involves cost.  Uniswap - which recently has been growing in popularity - offers prices completely based on on-chain logic. A model that is susceptible to front-running. Kyber Network - the other big DEX - is largely using market makers that provide periodic price updates, but only a final price after a user’s commitment to a trade.  Any user of either Uniswap and Kyber does not know the final price one gets from a trade before committing to the trade. With Tokenlon, on the other hand, Tokenlon aim to solve all 3 of those issues. Let’s dive into the how below. How does Tokenlon work? A token swap on Tokenlon Let’s walk through one trade on the new Tokenlon. Receive real price updates As soon as you enter a trading pair and amount, market makers compete on providing you with the best price - updated every 4 seconds. If you are selling an ERC20 token, you are asked to set allowance for the specific token the time you trade it. Trade with price-security Clicking on ‘trade’ then triggers the market maker signing an order with the tokens already held in reserve. Tokenlon then forwards your signed order to the 0x contract. With the transaction mined on the Ethereum blockchain, your tokens are available in your wallet. The whole process takes ~15 second, one block. As soon as you click the trade button, you can be very certain of that trade being settled on-chain. Why? Tokenlon’s architecture eliminates front-running.  Say goodbye to front-running As mentioned above, other exchanges such as Uniswap are prone to frontrunning in a way that — especially for large trades — give you a big slippage or failed trades. Trading on Tokenlon, however, prevents those outcomes. How? First, no other trader is able to accept your order, as the order itself specifies the taker as a transactionHash.The Tokenlon Exchange contract will then verify you as the taker of this specific offer, preventing other blockchain users (including Tokenlon users) from frontrunning the trade. The TokenlonExchange contract calls the 0x contract for settlement, with the specified UserProxy contract as the taker.  Therefore, miners are also not able to front run a trade. Therefore, as soon as you click the trade button, you are very certain that the trade will be executed. Trading doesn’t fail. Trusted on-chain settlement & free transactions Furthermore, even if trades would fail you wouldn’t lose your tokens as can happen when you deposit tokens on an exchange - no matter if centralized or decentralized.Since 0x contract offers trustless on-chain settlement, your trade will be finalized with either both tokens having changed their owner or nothing happening at all. You won’t lose your token in the swap process. Last, Tokenlon offers gasless transactions. Tokenlon incentivises the end users by broadcasting their orders (except ETH sell orders) for them, offering gas free transactions. If you would like to try Tokenlon, check it out in imToken or at tokenlon.im/instant 
2020-01-08
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.
2020-01-08
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.
2020-02-01

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