Topic: XinFin [XDC] Connecting Blockchain to the real world through IoT - page 3. (Read 29144 times)
Good to see XDCE is going to moon https://coinmarketcap.com/currencies/xinfin-network/
The Republic of Seychelles registered centralized exchange Bilaxy listed XinFin’s ERC20 token XDCE on 21 May 2020, and XDCE made its position in the top 15 coins among the 150+ pairs, with respect to volume in 24 hours of listing.
Trade XDCE/ETH: https://bilaxy.com/trade/XDCE_ETH
Announcement for Reference: https://t.me/bilaxy_announcements/955
About Bilaxy
Launched in Apr 2018, Bilaxy exchange is a centralized exchange registered in the Republic of Seychelles and launched in early 2018, Bilaxy exchange claims to have hundreds of thousands of traders from more than 80 countries all over the world.
Bilaxy places a strong focus on liquidity for new tokens for global crypto traders. With 150+ crypto pairs, Bilaxy aims to establish a leading global trading platform that provides a broad range of trading products and services for global traders with a focus on transparency, reliability, quality execution, and client services. CoinMarketCap Link: https://coinmarketcap.com/exchanges/bilaxy/
About XDCE
XinFin (XDCE) an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The Xinfin network is powered by the native coin called XDC. The XDC protocol is architected to support smart contracts, KYC to masternodes (Validators Node). The XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS), with the goal of creating a ‘highly-scalable, secure, permissioned, and commercial grade’ blockchain network. Tradefinex.Org is a network for trade finance originators to distribute trade assets to alternative asset investors using decentralized and p2p financing technology. Recently, the World Trade Organisation and the International Chamber of Commerce white paper Publish XinFin’s TradeFinex.org is the “Network of Network” for trade finance. More detail at XinFin.org
We invite you to join the XinFin Community at:
Telegram: https://t.me/xinfin
Twitter: https://twitter.com/XinFin_Official
Subscribe to the XinFin Community Newsletter by clicking here. You will receive our newsletter direct to your inbox every month.
XinFin Hybrid Blockchain [XDCE] www.xinfin.org
London based institutional custody & prime brokerage firm, Copper.co now supports XinFin’s Mainnet Chain XDC to provide digital custody solutions for XinFin and TradeFinex’s institutional and crypto hedge fund customers. Copper’s safeguards its infrastructure using online, offline and MPC technologies to create a client segregated custody environment for digital assets, thus, providing maximum security without compromising on control.
XinFin announced a partnership with Copper.co on 27 January 2020 for Institutional Custody Solution with the support for XDCe across its institutional hot and cold wallet solutions.
As of now, XDC and XDCe Coin are listed with various decentralised and centralised cryptocurrency exchanges. To add to that, now Copper also supports both XDC mainnet Coin as well as XDCe — the ERC20 version of the token. Custody Copper also provides an insurance option to safeguard cryptocurrency assets.
About Copper:
Copper designs & develops award-winning infrastructure enabling institutions to acquire store, and trade digital assets in a manner that satisfies global investors and regulatory standards. Its multi-signature safeguarding application allows institutions to have complete certainty that their capital is not at risk of theft, whether it be from hackers or bad players in the industry. Copper is also one of the few digital asset custody solutions to be insured against crime, including theft of fiat or digital assets — with a comprehensive policy brokered by Aon in London. More details at https://copper.co
About XinFin.Network:
Xinfin XDC Network is an open-source enterprise-ready hybrid blockchain for global trade and finance use cases. Tradefinex.org is a P2P network for trade finance originators to distribute trade assets to the growing class of alternative asset investors. The trade finance market is expected to reach USD 71 billion by the end of 2024 and the Xinfin blockchain network aims to innovate the market using blockchain technology. For more information on XinFin Network, please visit Xinfin.org.
Anyone can add liquidity to the XinFin liquidity pool on Bancor and earn fees from XDCE trades.
📖 Check out this guide to learn how: http://ban.cr/XinFinStaking
https://twitter.com/Bancor/status/1258324660422311937
📖 Check out this guide to learn how: http://ban.cr/XinFinStaking
https://twitter.com/Bancor/status/1258324660422311937
If you already have solidity smart contracts, you can deploy them on XinFin.Network to be eligible for free XDC coin bounty. Bounty valid till 30 June 2020. Interesting DApps will have provisions to get marketing grants on top of the bounty.
How to Deploy Contract on XinFin Network?
Easy step by step guide to deploy the smart contract on XinFin Testnet (Apothem) through XinFin Remix and XinPay.:
https://medium.com/xinfin/deploy-smart-contract-on-xinfin-testnet-through-xinfin-remix-and-xinpay-dfbbf9dcc3f7
Or look at the video: https://youtu.be/XvzxHs6_EOQ
How to install XinPay?
XinPay allows you to run XinFin DApps right in your browser without running a full XinFin node. (Supported Browser:- Google Chrome)
Click here to read the instructions on Medium.
Or, watch the video: https://youtu.be/QUi2_kfv1Ko
Links to other useful resource and tools:
Introduction
API Docs
XinFin Network
XinFin Network Remix
Apothem Network TestNet
Faucet
How to claim your bounty?
Bounty Terms:
About XinFin Bounty Program
Contribute to the XinFin Blockchain Ecosystem and earn rewards! We Invite our Community and all bug bounty hunters to participate in the bounty program and win lots of rewards. Check out the Developer Information Center for technical documentation and Official Telegram Developer Channel to find the development resources. For other bounties visit: https://xinfin.org/bounty
Connect with us on social media:
Twitter: https://twitter.com/XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram Announcement: https://t.me/xinfin
Telegram General Discussion: https://t.me/xinfintalk
Telegram Developers Community: https://t.me/xinfintech
Bitcoin Talk: https://bitcointalksearch.org/topic/xinfin-xdc-connecting-blockchain-to-the-real-world-through-iot-1989818
Youtube Channel: https://www.youtube.com/channel/UCQaL6FixEQ80RJC0B2egX6g
How to Deploy Contract on XinFin Network?
Easy step by step guide to deploy the smart contract on XinFin Testnet (Apothem) through XinFin Remix and XinPay.:
- Install XinPay
- Navigate to Remix XinFin Network
- Click on settings -> choose your compiler (e.g. 0.4.19+commit.c4cbbb05). Note that optimization is unchecked.
- Login to XinPay and choose MainNet network
- Go back to the compile tab
- Delete the contents of the example contract
- Paste in your contract (it should auto compile)
- Click on the run tab
- Click on the deploy button
- Once XinPay opens, choose your gas price and click ‘Submit’ to sign your transaction
- Open XinPay again and click on the transaction hash, which should redirect you to something like https://explorer.xinfin.network/tx/0x2a945a...
- Once published, click on the contract address which should be a URL like https://explorer.xinfin.network/token/xdc939286efd740a429457ba...
- Click on ‘Contract Source‘ tab on XDC Explorer and click Verify and Publish
- Set the name of the contract to the exact name as that in Remix and the compiler to the same exact version as that in Remix. Once done, set optimization to “No” if you didn’t click it on Remix in Step 3.
https://medium.com/xinfin/deploy-smart-contract-on-xinfin-testnet-through-xinfin-remix-and-xinpay-dfbbf9dcc3f7
Or look at the video: https://youtu.be/XvzxHs6_EOQ
How to install XinPay?
XinPay allows you to run XinFin DApps right in your browser without running a full XinFin node. (Supported Browser:- Google Chrome)
Click here to read the instructions on Medium.
Or, watch the video: https://youtu.be/QUi2_kfv1Ko
Links to other useful resource and tools:
Introduction
API Docs
XinFin Network
XinFin Network Remix
Apothem Network TestNet
Faucet
How to claim your bounty?
- Deploy the contract on XinFin.Network
- Make an announcement on your official social media handle (Twitter/Linkedin) or make a PressRelease/Blog/BitcoinTalk post by tagging XinFin handle and adding relevant images and the keywords #XDC #XinFin #developer)
- Fill this Google form to claim your bounty.
Bounty Terms:
- Any current Solidity Smart Contract is eligible for the bounty.
- Contract deployment URL and website URL is mandatory
- Share over social media post the deployment of the smart contract. And tag XinFin/XDC in comment
- Bounty starts from USD 25 onwards.
- The committee reserves all rights to reject a bounty claim
- The team will reject the application if the same candidate applies multiple times.
- Bounty will be given as XDC coin.
About XinFin Bounty Program
Contribute to the XinFin Blockchain Ecosystem and earn rewards! We Invite our Community and all bug bounty hunters to participate in the bounty program and win lots of rewards. Check out the Developer Information Center for technical documentation and Official Telegram Developer Channel to find the development resources. For other bounties visit: https://xinfin.org/bounty
Connect with us on social media:
Twitter: https://twitter.com/XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram Announcement: https://t.me/xinfin
Telegram General Discussion: https://t.me/xinfintalk
Telegram Developers Community: https://t.me/xinfintech
Bitcoin Talk: https://bitcointalksearch.org/topic/xinfin-xdc-connecting-blockchain-to-the-real-world-through-iot-1989818
Youtube Channel: https://www.youtube.com/channel/UCQaL6FixEQ80RJC0B2egX6g
April 13, 2020, 06:01:13 AM
XDC Coin powered TradeFinex launches blockchain network tools to empower decentralised manufacturing of personal protective equipment (PPE). Fundmydesign tools on TradeFinex aims to connect designers, manufacturers, and inventors.
TradeFinex.org — a decentralised protocol for finance powered by XinFin XDC Coin protocol — is rolling out key features during the coronavirus crisis. Fundmydesign tools on TradeFinex aims to connect designers, manufacturers, and inventors of personal protective and medical equipment. They aim to help them secure funding from governments, institutions, and individuals so that they can cope up with supply shortage for key medical equipment and personal protective equipment (PPE).
Access Tool here: https://www.tradefinex.org/publicv/funddesign
Co-Founder of TradeFinex.org Atul Khekade said:
“The Coronavirus crisis has dismantled global trade and the economy to the core. It is probably the largest economic crisis in our time. The health of citizens needs protection. The medical staff needs personal protective equipment. Most of the affected countries are so dependent on the global supply chain for PPEs and medical equipment that there is a huge shortage of them.”
There is a massive shortage of personal protective equipment and medical equipment such as ventilators. The problem is that major medical equipment manufacturers have limited production capacity and the ventilator costs over USD 20,000. MIT open-sourced a $100 design for ventilators and there are many regional/local manufacturers who can manufacture the device to meet the demands subject to quality checks. The same goes for masks.
Bank and non-bank funders can quickly set up a Masternode to participate in the trusted network. To become a Masternode on the XinFin Network, they will have to stake 10 million XDC coins.
Designers or manufacturers of personal protective equipment can securely share their designs with the funders over a secure peer to peer network by paying a nominal 1 XDC (approx. USD 0.001 at its average rate). XDC or XDCE tokens for payment of utility fees can be acquired through its liquid markets listed at: https://coinmarketcap.com/currencies/xinfin-network/
About TradeFinex.org
TradeFinex.org is a decentralised finance network designed for finance distribution from originators to funders. TradeFinex is powered by XinFin Network. Utility applications deployed on XinFin Network can be accessed by paying fees using XDC crypto Coin.
TradeFinex.org — a decentralised protocol for finance powered by XinFin XDC Coin protocol — is rolling out key features during the coronavirus crisis. Fundmydesign tools on TradeFinex aims to connect designers, manufacturers, and inventors of personal protective and medical equipment. They aim to help them secure funding from governments, institutions, and individuals so that they can cope up with supply shortage for key medical equipment and personal protective equipment (PPE).
Access Tool here: https://www.tradefinex.org/publicv/funddesign
Co-Founder of TradeFinex.org Atul Khekade said:
“The Coronavirus crisis has dismantled global trade and the economy to the core. It is probably the largest economic crisis in our time. The health of citizens needs protection. The medical staff needs personal protective equipment. Most of the affected countries are so dependent on the global supply chain for PPEs and medical equipment that there is a huge shortage of them.”
There is a massive shortage of personal protective equipment and medical equipment such as ventilators. The problem is that major medical equipment manufacturers have limited production capacity and the ventilator costs over USD 20,000. MIT open-sourced a $100 design for ventilators and there are many regional/local manufacturers who can manufacture the device to meet the demands subject to quality checks. The same goes for masks.
Bank and non-bank funders can quickly set up a Masternode to participate in the trusted network. To become a Masternode on the XinFin Network, they will have to stake 10 million XDC coins.
Designers or manufacturers of personal protective equipment can securely share their designs with the funders over a secure peer to peer network by paying a nominal 1 XDC (approx. USD 0.001 at its average rate). XDC or XDCE tokens for payment of utility fees can be acquired through its liquid markets listed at: https://coinmarketcap.com/currencies/xinfin-network/
About TradeFinex.org
TradeFinex.org is a decentralised finance network designed for finance distribution from originators to funders. TradeFinex is powered by XinFin Network. Utility applications deployed on XinFin Network can be accessed by paying fees using XDC crypto Coin.
April 01, 2020, 02:25:23 AM
XinFin’s XDC is paired with USDT at STEX exchange where users can buy crypto using their credit cards.
XinFin is excited to announce that the XinFin mainnet chain has been listed on an Estonia licensed exchange STEX. XDC was initially listed on AlphaEx, where it is paired with BTC, ETH, XRP, USDT, USDC and 1:1 swappable with XDCE. STEX is the second exchange to list XinFin mainnet native coin XDC.
STEX is a centralized exchange (CEX) launched in September 2017. It is a licensed exchange located in Tallinn, Estonia and listed on CoinMarketCap. The exchange allows 3 types of verification that help users reduce trading fees by up to 0.05%. It supports crypto-to-crypto and fiat-to-crypto trading with no withdrawal limits. Now, traders and investors can buy XDC directly with a credit card, fiat, crypto from STEX. The deposit has already begun and trading will be live for the users soon on their web as well as the mobile app.
XinFin Utility Token XDC and XDCE
XDC is the native digital currency of the XinFin Hybrid Blockchain Network, an open-source public blockchain network that offers stable coin/token creation, smart contracts and document storage. XinFin has released a swappable ERC20 token version under the ticker — XDCE. The XDCE token will largely be for traders to compete against other ERC20 tokens across exchange boards. This would make XinFin’s reach more versatile in the open Crypto Market. Traders can also swap the XDCE tokens with the standard XDC token.
Ritesh Kakkad, Co-Founder of XinFin.Org and TradeFinex.org, said:
“We are delighted to be a part of STEX exchange. I’d like to personally express my gratitude towards all the XinFin community members for their suggestions and continuous support for the adoption of XDC Coin.”
Vadym Kurylovych, CEO of STEX.com said:
“We are pleased to announce the newest Coin listing XDC- XinFin Mainnet Coin. XinFin’s XDPoS chain looks impressive and has the potential to grow fast. We welcome all the members of XinFin Community to start trade with STEX multi-currency Exchange.`
About STEX
STEX is a regulated cryptocurrency exchange based in Estonia, Operated by Etna Development OÜ with 2 licenses:
1) Financial services, Providing services of exchanging a virtual currency against fiat currency.
2) Financial services, Providing a virtual currency wallet service. Check the STEX exchange on CoinMarketCap.
About XinFin’s XDC
XinFin an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The Xinfin network is powered by the native coin called XDC. The XDC protocol is architected to support smart contracts, KYC to Masternodes (Validator Nodes). The XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS), with the goal of creating a ‘highly-scalable, secure, permissioned, and commercial grade’ blockchain network. More detail at XinFin.org
We invite you to join the XinFin Community on:
Telegram: https://t.me/xinfin
Twitter: https://twitter.com/XinFin_Official
CoinMarketCap: https://coinmarketcap.com/currencies/xinfin-network/
Store XDC & XDCE + ERC20 Tokens on XinFin Andriod Wallet: https://play.google.com/store/apps/details?id=com.xdcwallet
Store XDC on XinFin Web Wallet: https://wallet.xinfin.network/#/
Subscribe to the XinFin Community Newsletter. You will receive our newsletter direct to your inbox every month.
XinFin Hybrid Blockchain www.xinfin.org
XinFin is excited to announce that the XinFin mainnet chain has been listed on an Estonia licensed exchange STEX. XDC was initially listed on AlphaEx, where it is paired with BTC, ETH, XRP, USDT, USDC and 1:1 swappable with XDCE. STEX is the second exchange to list XinFin mainnet native coin XDC.
STEX is a centralized exchange (CEX) launched in September 2017. It is a licensed exchange located in Tallinn, Estonia and listed on CoinMarketCap. The exchange allows 3 types of verification that help users reduce trading fees by up to 0.05%. It supports crypto-to-crypto and fiat-to-crypto trading with no withdrawal limits. Now, traders and investors can buy XDC directly with a credit card, fiat, crypto from STEX. The deposit has already begun and trading will be live for the users soon on their web as well as the mobile app.
XinFin Utility Token XDC and XDCE
XDC is the native digital currency of the XinFin Hybrid Blockchain Network, an open-source public blockchain network that offers stable coin/token creation, smart contracts and document storage. XinFin has released a swappable ERC20 token version under the ticker — XDCE. The XDCE token will largely be for traders to compete against other ERC20 tokens across exchange boards. This would make XinFin’s reach more versatile in the open Crypto Market. Traders can also swap the XDCE tokens with the standard XDC token.
Ritesh Kakkad, Co-Founder of XinFin.Org and TradeFinex.org, said:
“We are delighted to be a part of STEX exchange. I’d like to personally express my gratitude towards all the XinFin community members for their suggestions and continuous support for the adoption of XDC Coin.”
Vadym Kurylovych, CEO of STEX.com said:
“We are pleased to announce the newest Coin listing XDC- XinFin Mainnet Coin. XinFin’s XDPoS chain looks impressive and has the potential to grow fast. We welcome all the members of XinFin Community to start trade with STEX multi-currency Exchange.`
About STEX
STEX is a regulated cryptocurrency exchange based in Estonia, Operated by Etna Development OÜ with 2 licenses:
1) Financial services, Providing services of exchanging a virtual currency against fiat currency.
2) Financial services, Providing a virtual currency wallet service. Check the STEX exchange on CoinMarketCap.
About XinFin’s XDC
XinFin an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The Xinfin network is powered by the native coin called XDC. The XDC protocol is architected to support smart contracts, KYC to Masternodes (Validator Nodes). The XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Stake (XDPoS), with the goal of creating a ‘highly-scalable, secure, permissioned, and commercial grade’ blockchain network. More detail at XinFin.org
We invite you to join the XinFin Community on:
Telegram: https://t.me/xinfin
Twitter: https://twitter.com/XinFin_Official
CoinMarketCap: https://coinmarketcap.com/currencies/xinfin-network/
Store XDC & XDCE + ERC20 Tokens on XinFin Andriod Wallet: https://play.google.com/store/apps/details?id=com.xdcwallet
Store XDC on XinFin Web Wallet: https://wallet.xinfin.network/#/
Subscribe to the XinFin Community Newsletter. You will receive our newsletter direct to your inbox every month.
XinFin Hybrid Blockchain www.xinfin.org
March 17, 2020, 01:01:45 AM
Today, the international shipping industry accounts for close to 90% of global trade. Fact: Shipping is the lifeblood of today’s global trade economy.
A form of Sea-Trade made famous this year by climate change activist Greta Thunberg which has been quietly revolutionizing the global shipping industry. As Seaborne trade expands, benefits for consumers around the globe continue to benefit from improved efficiency and competitive freight costs. An increase in Seaborne trade and usage of eB/Ls also benefits the world by decreasing Carbon Emission and supporting the environment for the next generation. Thanks to economic liberalization around the globe, the industry’s prospects continue to grow.
With the growth of the Seaborne trade, several challenges abide. Particularly on the Bill of Lading(BOL) front.
What’s a Bill of Lading?
Bill of Lading is a prerequisite to moving freight shipment. The BOL works as a receipt for freight services, a contract between a shipper and freight carrier, or a document of title. The legally binding document provides carriers with details required to process freight shipment.
What’s the importance of Bills of Lading in Global Trade and Finance?
A BOL is important in Cross Border Trade and Finance for a number of reasons.
These are as follows:
As a receipt for goods shipped: Details of a shipment are included in this document. The details may include — quantity, weight, packaging and any notable conditions of the goads in transit.
Confirms carriage and serves as a proof of the contract: A BOL serves as proof of a valid contract and agreement to deliver specified goods by sea. The contract exempts the carrier from any form of contract between a buyer and a seller.
As a document of title: A BOL is a document of title. That is it’s transferable through endorsement even when goods are in transit. A BOL allows a receiver of goods in transit to take possession of the goods as soon as a vessel dock.
As a binding Contract of Carriage between the Buyer and Carrier: A BOL is a binding contract between a carrier and a buyer/receiver of goods in transit. It highlights the features of goods being transferred. Terms agreed upon outside the bill of lading aren’t included in a BOL.
What is eB/Ls or Electronic bill of lading?
An electronic paperless bill of lading is a bill of lading issued electronically instead of being printed on paper and issued physically to the customer as a hard copy.
Benefits of Electronic bill of lading
EB/Ls introduce a number of benefits — compared to paper-based bills of lading. These include: speed and ease of transfer, reduces administrative costs, simplifies dealing with errors, and reduces risks of fraud.
eB/Ls also promotes trades faster with more transparency and dependency on machines rather than humans and it also helps trade parties to not stop with current problems in the world like CoronaVirus or Covid-19.
Benefits notwithstanding, electronic systems introduce a new risk: Hacking. Citing the “ MSC Mediterranean Shipping Company v Glencore [2017] EWCA Civ 365” case, hackers gained access to the pin causing unwanted inefficiencies.
Challenges facing eB/Ls and eB/Ls-platforms currently in use
Uncertainty over the legality of an electronic transferable record
With legal rights associated with traditional paper B/Ls being well-established, the legal status of eB/Ls remains unclear. Only the USA has a law that outlines and supports the use of eB/Ls. That’s despite several countries trying to adopt eB/Ls.
At the same time, there’s no clear pattern on how to establish rights based on an electronic acknowledgment given by the carrier to the holder of the eB/L. At present, whether the law catches up with the technology to ensure the transferability of rights and liabilities under an eB/L without specific contractual agreement remains uncertain. This hinders widespread eB/Ls adoption.
Principal Issues for Banks
With the uncertain legal status of eB/Ls, banks don’t treat security over original paper B/Ls as legally equivalent to security over eB/Ls. (Source)
Notably, there are risks that a bank holding an eB/Ls may not be able to claim possession of goods in certain cases. For instance, there’s a risk that failure of a legal system to recognize eBLs, as part of its local law, may deny holding banks their claims.
While such risks may be overrated, in cases of insolvency, the rights of a bank depend on whether the property has passed from seller to buyer. Whilst such terms are dependent on particulars in a contract of sale, banks can be exposed to risks of losses in case of a buyer’s insolvency. Due to the instant nature of bills the risk is high, however, paper bills also hold some risk.
Lack of onboarding
Digitization platforms like TradeTrust, Bolero, and essDOCS have established surefire central electronic platforms for the transfer of eB/Ls. However, In most of the cases, they fail to onboard all parties involved in the transactions.
Without proper onboarding of all stakeholders, Electronic bills of lading aren’t receiving the full support and confidence of all participants in the international business scene. That’s predominantly because of security and authenticity in such documents.
Lack of clear guidelines under the law
Without clear guidelines on the cross-border transactions under law, a lot of uncertainties — regarding custody of the original documents of Bills of Lading held as eB/Ls — abide.
At the same time, legal problems arise due to the fact that laws in many jurisdictions are limited to paper-based bills of lading. And without proper guidelines in law, more stakeholders remain reluctant to accept e-bills as there’s no clear-cut approach to transfer rights normally obtained when bills of lading pass on to relevant transferees.
Traceability challenges with eB/Ls
Lack of traceability of external parties and non-members in eB/Ls is a stumbling block. As well, most eB/Ls Platforms require high subscription fees, which are not feasible for the SMEs that conduct one-time transactions.
To remedy the problem, there’s a need for modern registries in which security interests granted with eB/Ls — evidence of affreightment, contract of carriage, and control of title —can be recorded. At the same time, these registries should be reasonably inexpensive and secure from tampering. What’s more, such modern registries should be easily accessible to authorized users, easy to use, and globally recognized and accepted.
Regarding the banking industry and other legally-sophisticated players in the industry, eB/Ls should provide security that matches or that’s nearly comparable to UCC section 7–106(b)(1–6) as possible.
Lack of clear laws on dispute resolution on double financing
Without an effective dispute resolution framework, dispute resolution for double financing for eB/Ls becomes a major roadblock. Banks, which are important players in the trade, may withhold their engagement with E-bills if they increase operational risks.
So as to give the E-Bill functional equivalence, developers of eB/Ls should develop frameworks that enable the replication of laws and regulations in paper bills of lading. Particularly, there’s a need for a system that prevents double-spending/financing by providing the guarantee of uniqueness.
(Guarantee of uniqueness refers to the phenomenon where specific details of a transaction are stored in a tamperproof system allowing verifiability. In a blockchain, distributed ledgers are cryptographically secured on the Blockchain by assigning a unique id or hash and a timestamp when it is added to the network. Since blocks are cryptographically linked to adjacent blocks, anyone seeking to alter contents in eB/Ls would have to modify the content in all blocks to hide evidence. That’s impossible as new blocks are generated 24/7 as more shipping transactions are recorded.)
Can Blockchain remedy problems facing eB/Ls and eB/Ls Platforms?
Following a lengthy incubation period, electronic bills of lading (eBLs) are finally taking their first tentative steps in the shipping world. Through closed systems currently in operation, only banks, traders and carriers that are members can participate. These closed schemes cannot, therefore, be considered as true replacements of traditional paper bills of lading.
However, Blockchain technology makes it possible to offer an open system to shipping stakeholders. Transactions are recorded on a block-by-block basis and each block is added through a computationally difficult puzzle. Therefore, blockchain can remedy problems facing eB/Ls and eB/Ls Platforms.
Figure 1: (source)
With blockchain, an open and decentralized system(illustrated in figure one above) allows synchronizing of ledgers held by all the participants. This allows participants in the shipping industry to reach a consensus-based on the priority of their transactions.
At the same time, the blockchain solution offers a more secure and transparent platform. That’s because key stakeholders — throughout the process — can check the eB/Ls, and it’s not possible to edit or forge blockchain-based electronic documents.
However, the blockchain system faces some legal issues. With data sharing across jurisdictions, there’s a likelihood of cross-border data-protection issues arising. What’s more, the legal efficacies of smart contracts are yet to be fully tested under the law of contract. Particularly, with blockchain’s decentralized technology, and there being no single controlling entity, who would bear liability if the system were to fail?
These challenges, however, can be remedied through blockchain-based tokens.
Blockchain-Tokens remedying problems facing eB/Ls and eB/Ls Platforms
By stamping additional information on blockchain tokens — through blockchain’s in-built scripting capability — tokens can be assigned for different purposes.
Through blockchain technology, eB/Ls Platforms can circulate tokens that function like transferrable documents. That is documents that entitle the rightful holder to claim the performance of an obligation indicated in the document. For instance, a carrier of goods can issue an electronic bill of lading — -in the form of a blockchain-based token — — to represent a right to demand the carrier to deliver a consignment. The token can thereafter be transferred to sellers and subsequently to the buyers on the blockchain-based eB/Ls Platform.
Today, tokenization of electronic documents (especially bills of lading) and the safe and secure transfer of such documents is possible through TradeFinex Network that’s offered by TradefinexTech Ltd.
TradeFinexTech Ltd.
TradefinexTech Ltd. is an entity regulated by the Abu Dhabi Global Market Authorities (ADGM). The entity specializes in the deployment of tokenized assets on Public/Private Blockchain Networks via regulator-friendly instruments as compared to other eB/Ls.
TradeFinex — a decentralized application (dApp) — runs on the open-source XinFin Hybrid Blockchain. XinFin was developed to eliminate inefficiencies in financing and global trade and permit institutions to provide real-time solutions and enable cross border smart contracts.
TradeFinex is licensed by the ADGM to serve as a custodian, to settle, and to finance tokenized assets in Trade Finance’s secondary market. An example of a trade finance asset is a Bill of lading.
How can TradeFinex Network work with eB/Ls and eB/Ls platforms?
With TradeFinex Network, tokenized electronic records are safely and securely transferable through private keys issued by a regulated custodian. Through the open-source XinFin Blockchain Network, control of multi-party eB/Ls transactions is possible. Specifically, through MutiSig Smart Contracts in the blockchain network, stakeholders can synchronize ledgers held by all the participants.
Figure 2: Multi-party signatures to transfer Tokenized assets
As well, the partnership between eB/Ls Platforms and TradeFinex distribution networks enable liquidity by making it possible for eB/Ls Platforms to participate in secondary markets for tokenized Trade Finance assets.
Partnering with eB/Ls Platforms, TradeFinex works with regulators like Abu Dhabi Global Market to recognize tokenized financial assets like bills of lading. This ensures all operations are within regulatory guidelines.
TradeFinex Network creates a standard bridge from platforms like Bolero,essDOCS, and TradeTrust subsequently allowing such platforms to participate in the secondary market. This is possible since TradeFinex is fully regulated by the ADGM and licensed to take custody, settle and finance Trade Finance assets like tokenized Bill of lading in the secondary market.
To ensure traceability of eB/Ls, XinFin Blockchain, which is open source, does not limit access as compared to proprietor blockchain networks. As well,the XinFin Blockchain network avails limited transaction data on the public blockchain network for Traceability purposes.
How does TradeFinex Network Benefit eB/Ls Platforms?
The adoption of the TradeFinex network has several benefits to eB/Ls Platforms. Notably, tokens/tokenization has a more clear legal status of the resulting Electronic Document as compared to a mere electronic version.
TradeFinex creates a bridge to onboard buyers and suppliers on eB/Ls platforms via the TradeFinex website link “Bills of Lading ‘’. EB/Ls platforms, on their part, extend 25% of revenues/fees generated from buyers/suppliers in billing credits to TradeFinex.
For eB/Ls that join TradeFinex’s origination partner program, they’ll have access to the eB/Ls of interested buyers and suppliers. In return, TradeFinex will distribute 75% of the funding fees to such Platforms.
What’s more, initial members at XinFin Blockchain Network preferring products optimized for Trade and Finance earn a Governance council Membership. The position is only available for initial industry players in eB/Ls. This option also has provisions for the allocation of XDC from the ecosystem’s development pool.
Note: EB/Ls platforms can enquire on TradeFinex’s partnership proposal here.
A form of Sea-Trade made famous this year by climate change activist Greta Thunberg which has been quietly revolutionizing the global shipping industry. As Seaborne trade expands, benefits for consumers around the globe continue to benefit from improved efficiency and competitive freight costs. An increase in Seaborne trade and usage of eB/Ls also benefits the world by decreasing Carbon Emission and supporting the environment for the next generation. Thanks to economic liberalization around the globe, the industry’s prospects continue to grow.
With the growth of the Seaborne trade, several challenges abide. Particularly on the Bill of Lading(BOL) front.
What’s a Bill of Lading?
Bill of Lading is a prerequisite to moving freight shipment. The BOL works as a receipt for freight services, a contract between a shipper and freight carrier, or a document of title. The legally binding document provides carriers with details required to process freight shipment.
What’s the importance of Bills of Lading in Global Trade and Finance?
A BOL is important in Cross Border Trade and Finance for a number of reasons.
These are as follows:
As a receipt for goods shipped: Details of a shipment are included in this document. The details may include — quantity, weight, packaging and any notable conditions of the goads in transit.
Confirms carriage and serves as a proof of the contract: A BOL serves as proof of a valid contract and agreement to deliver specified goods by sea. The contract exempts the carrier from any form of contract between a buyer and a seller.
As a document of title: A BOL is a document of title. That is it’s transferable through endorsement even when goods are in transit. A BOL allows a receiver of goods in transit to take possession of the goods as soon as a vessel dock.
As a binding Contract of Carriage between the Buyer and Carrier: A BOL is a binding contract between a carrier and a buyer/receiver of goods in transit. It highlights the features of goods being transferred. Terms agreed upon outside the bill of lading aren’t included in a BOL.
What is eB/Ls or Electronic bill of lading?
An electronic paperless bill of lading is a bill of lading issued electronically instead of being printed on paper and issued physically to the customer as a hard copy.
Benefits of Electronic bill of lading
EB/Ls introduce a number of benefits — compared to paper-based bills of lading. These include: speed and ease of transfer, reduces administrative costs, simplifies dealing with errors, and reduces risks of fraud.
eB/Ls also promotes trades faster with more transparency and dependency on machines rather than humans and it also helps trade parties to not stop with current problems in the world like CoronaVirus or Covid-19.
Benefits notwithstanding, electronic systems introduce a new risk: Hacking. Citing the “ MSC Mediterranean Shipping Company v Glencore [2017] EWCA Civ 365” case, hackers gained access to the pin causing unwanted inefficiencies.
Challenges facing eB/Ls and eB/Ls-platforms currently in use
Uncertainty over the legality of an electronic transferable record
With legal rights associated with traditional paper B/Ls being well-established, the legal status of eB/Ls remains unclear. Only the USA has a law that outlines and supports the use of eB/Ls. That’s despite several countries trying to adopt eB/Ls.
At the same time, there’s no clear pattern on how to establish rights based on an electronic acknowledgment given by the carrier to the holder of the eB/L. At present, whether the law catches up with the technology to ensure the transferability of rights and liabilities under an eB/L without specific contractual agreement remains uncertain. This hinders widespread eB/Ls adoption.
Principal Issues for Banks
With the uncertain legal status of eB/Ls, banks don’t treat security over original paper B/Ls as legally equivalent to security over eB/Ls. (Source)
Notably, there are risks that a bank holding an eB/Ls may not be able to claim possession of goods in certain cases. For instance, there’s a risk that failure of a legal system to recognize eBLs, as part of its local law, may deny holding banks their claims.
While such risks may be overrated, in cases of insolvency, the rights of a bank depend on whether the property has passed from seller to buyer. Whilst such terms are dependent on particulars in a contract of sale, banks can be exposed to risks of losses in case of a buyer’s insolvency. Due to the instant nature of bills the risk is high, however, paper bills also hold some risk.
Lack of onboarding
Digitization platforms like TradeTrust, Bolero, and essDOCS have established surefire central electronic platforms for the transfer of eB/Ls. However, In most of the cases, they fail to onboard all parties involved in the transactions.
Without proper onboarding of all stakeholders, Electronic bills of lading aren’t receiving the full support and confidence of all participants in the international business scene. That’s predominantly because of security and authenticity in such documents.
Lack of clear guidelines under the law
Without clear guidelines on the cross-border transactions under law, a lot of uncertainties — regarding custody of the original documents of Bills of Lading held as eB/Ls — abide.
At the same time, legal problems arise due to the fact that laws in many jurisdictions are limited to paper-based bills of lading. And without proper guidelines in law, more stakeholders remain reluctant to accept e-bills as there’s no clear-cut approach to transfer rights normally obtained when bills of lading pass on to relevant transferees.
Traceability challenges with eB/Ls
Lack of traceability of external parties and non-members in eB/Ls is a stumbling block. As well, most eB/Ls Platforms require high subscription fees, which are not feasible for the SMEs that conduct one-time transactions.
To remedy the problem, there’s a need for modern registries in which security interests granted with eB/Ls — evidence of affreightment, contract of carriage, and control of title —can be recorded. At the same time, these registries should be reasonably inexpensive and secure from tampering. What’s more, such modern registries should be easily accessible to authorized users, easy to use, and globally recognized and accepted.
Regarding the banking industry and other legally-sophisticated players in the industry, eB/Ls should provide security that matches or that’s nearly comparable to UCC section 7–106(b)(1–6) as possible.
Lack of clear laws on dispute resolution on double financing
Without an effective dispute resolution framework, dispute resolution for double financing for eB/Ls becomes a major roadblock. Banks, which are important players in the trade, may withhold their engagement with E-bills if they increase operational risks.
So as to give the E-Bill functional equivalence, developers of eB/Ls should develop frameworks that enable the replication of laws and regulations in paper bills of lading. Particularly, there’s a need for a system that prevents double-spending/financing by providing the guarantee of uniqueness.
(Guarantee of uniqueness refers to the phenomenon where specific details of a transaction are stored in a tamperproof system allowing verifiability. In a blockchain, distributed ledgers are cryptographically secured on the Blockchain by assigning a unique id or hash and a timestamp when it is added to the network. Since blocks are cryptographically linked to adjacent blocks, anyone seeking to alter contents in eB/Ls would have to modify the content in all blocks to hide evidence. That’s impossible as new blocks are generated 24/7 as more shipping transactions are recorded.)
Can Blockchain remedy problems facing eB/Ls and eB/Ls Platforms?
Following a lengthy incubation period, electronic bills of lading (eBLs) are finally taking their first tentative steps in the shipping world. Through closed systems currently in operation, only banks, traders and carriers that are members can participate. These closed schemes cannot, therefore, be considered as true replacements of traditional paper bills of lading.
However, Blockchain technology makes it possible to offer an open system to shipping stakeholders. Transactions are recorded on a block-by-block basis and each block is added through a computationally difficult puzzle. Therefore, blockchain can remedy problems facing eB/Ls and eB/Ls Platforms.
Figure 1: (source)
With blockchain, an open and decentralized system(illustrated in figure one above) allows synchronizing of ledgers held by all the participants. This allows participants in the shipping industry to reach a consensus-based on the priority of their transactions.
At the same time, the blockchain solution offers a more secure and transparent platform. That’s because key stakeholders — throughout the process — can check the eB/Ls, and it’s not possible to edit or forge blockchain-based electronic documents.
However, the blockchain system faces some legal issues. With data sharing across jurisdictions, there’s a likelihood of cross-border data-protection issues arising. What’s more, the legal efficacies of smart contracts are yet to be fully tested under the law of contract. Particularly, with blockchain’s decentralized technology, and there being no single controlling entity, who would bear liability if the system were to fail?
These challenges, however, can be remedied through blockchain-based tokens.
Blockchain-Tokens remedying problems facing eB/Ls and eB/Ls Platforms
By stamping additional information on blockchain tokens — through blockchain’s in-built scripting capability — tokens can be assigned for different purposes.
Through blockchain technology, eB/Ls Platforms can circulate tokens that function like transferrable documents. That is documents that entitle the rightful holder to claim the performance of an obligation indicated in the document. For instance, a carrier of goods can issue an electronic bill of lading — -in the form of a blockchain-based token — — to represent a right to demand the carrier to deliver a consignment. The token can thereafter be transferred to sellers and subsequently to the buyers on the blockchain-based eB/Ls Platform.
Today, tokenization of electronic documents (especially bills of lading) and the safe and secure transfer of such documents is possible through TradeFinex Network that’s offered by TradefinexTech Ltd.
TradeFinexTech Ltd.
TradefinexTech Ltd. is an entity regulated by the Abu Dhabi Global Market Authorities (ADGM). The entity specializes in the deployment of tokenized assets on Public/Private Blockchain Networks via regulator-friendly instruments as compared to other eB/Ls.
TradeFinex — a decentralized application (dApp) — runs on the open-source XinFin Hybrid Blockchain. XinFin was developed to eliminate inefficiencies in financing and global trade and permit institutions to provide real-time solutions and enable cross border smart contracts.
TradeFinex is licensed by the ADGM to serve as a custodian, to settle, and to finance tokenized assets in Trade Finance’s secondary market. An example of a trade finance asset is a Bill of lading.
How can TradeFinex Network work with eB/Ls and eB/Ls platforms?
With TradeFinex Network, tokenized electronic records are safely and securely transferable through private keys issued by a regulated custodian. Through the open-source XinFin Blockchain Network, control of multi-party eB/Ls transactions is possible. Specifically, through MutiSig Smart Contracts in the blockchain network, stakeholders can synchronize ledgers held by all the participants.
Figure 2: Multi-party signatures to transfer Tokenized assets
As well, the partnership between eB/Ls Platforms and TradeFinex distribution networks enable liquidity by making it possible for eB/Ls Platforms to participate in secondary markets for tokenized Trade Finance assets.
Partnering with eB/Ls Platforms, TradeFinex works with regulators like Abu Dhabi Global Market to recognize tokenized financial assets like bills of lading. This ensures all operations are within regulatory guidelines.
TradeFinex Network creates a standard bridge from platforms like Bolero,essDOCS, and TradeTrust subsequently allowing such platforms to participate in the secondary market. This is possible since TradeFinex is fully regulated by the ADGM and licensed to take custody, settle and finance Trade Finance assets like tokenized Bill of lading in the secondary market.
To ensure traceability of eB/Ls, XinFin Blockchain, which is open source, does not limit access as compared to proprietor blockchain networks. As well,the XinFin Blockchain network avails limited transaction data on the public blockchain network for Traceability purposes.
How does TradeFinex Network Benefit eB/Ls Platforms?
The adoption of the TradeFinex network has several benefits to eB/Ls Platforms. Notably, tokens/tokenization has a more clear legal status of the resulting Electronic Document as compared to a mere electronic version.
TradeFinex creates a bridge to onboard buyers and suppliers on eB/Ls platforms via the TradeFinex website link “Bills of Lading ‘’. EB/Ls platforms, on their part, extend 25% of revenues/fees generated from buyers/suppliers in billing credits to TradeFinex.
For eB/Ls that join TradeFinex’s origination partner program, they’ll have access to the eB/Ls of interested buyers and suppliers. In return, TradeFinex will distribute 75% of the funding fees to such Platforms.
What’s more, initial members at XinFin Blockchain Network preferring products optimized for Trade and Finance earn a Governance council Membership. The position is only available for initial industry players in eB/Ls. This option also has provisions for the allocation of XDC from the ecosystem’s development pool.
Note: EB/Ls platforms can enquire on TradeFinex’s partnership proposal here.
March 04, 2020, 06:42:24 AM
As banks slash interest rates, Decentralized Finance (DeFi) is increasingly becoming a favorite for savers. Emerging as a game-changer, DeFi protocols may enable stablecoin holders to make profits in more ways than just speculating.
At the same time, despite noteworthy improvements, the financial systems have major shortcomings: lack of universal access to financial services to a significant portion of the globe, inefficient cross-border transactions and lack of interoperability with blockchain protocols. This hinders stablecoin holders from earning interests from tokenized assets around the world.
Thanks to distributed ledger technology, legacy finance entities, and stablecoins can provide speed and convenience in accessing and settling payments in the global market. As well, stablecoin-holders can now earn interest via tokenized assets from legacy finance.
How can Stablecoin-Holders earn Interest from Legacy Finance?
Stablecoin holders can earn interests from legal finance through securitization and tokenization of assets.
What’s Securitization? Securitization is the process of converting, through financial engineering, an illiquid asset or group of assets into security.
What’s tokenization?
Tokenization is the process of issuing blockchain tokens (particularly, security tokens) that represents, digitally, the value of a tradable asset.
With securitization and tokenization, legacy financial organizations can use Security Tokens (STOs) to create digital representations of their assets. That is legacy finance can offer STOs to represent a share in a company, participation in an investment fund, or a piece of the organization’s assets. Such STOs can be sold in the exchange market as interest-bearing assets.
With tokens being exchanged at a predetermined ratio to popular stablecoins, stablecoin-holders can acquire STOs and earn interest, therein.
What challenges affect stablecoins’ ability to earn interest from legacy Finance?
Despite the opportunities, stablecoins and DeFi protocols have the potential to introduce a host of challenges and risks from an oversight, regulatory and public policy perspective.
Fundamentally, stablecoins and DeFi protocols are not similar. Thus, the opportunities and risks they introduce are dependent on the structure and design underlying each arrangement.
#1. Fair competition in financial markets
Regarding fair competition in financial markets, Global Stable Coins (GSC) arrangements have the potential to promote market concentration thus go against competition and antitrust policies. Due to strong networks that spur their adoption, GSC arrangements can achieve market dominance in a significantly short period.
In the event that GSC systems are built on proprietary systems, they’ll prohibit entry or increase barriers to entry to such systems. This may be the case where enterprises that govern the stablecoin arrangements control the key channels that consumers and businesses use to access a range of services.
Increased barriers of entry may adversely affect interest rates earned by stablecoin holders as GSCs that hold dominance can offer relatively low-interest rates. Conversely, with robust competition frameworks, GSCs will compete by providing better interest rate terms. This will benefit digital transformation while safeguarding consumer trust in the financial system.
#2. Financial stability implications
With GSCs and their ecosystems, fragilities like credit risk, operational risks, and maturity and liquidity mismatches may introduce challenges in earning interest rates for stablecoin holders.
Notably, GSCs whose reference assets include bank deposits can be exposed to liquidity risks and credit risks in the underlying bank. Elaborately, defaults or liquidity problems in a holding bank may limit GSC’s abilities to meet stablecoin and interest redemption requests.
At the same time, GSCs holding a wide range of assets may be exposed to liquidity and market risks associated with those assets and issuers’ credit risk. A fall in the reserve asset’s value, triggered by overall market conditions or by an idiosyncratic change in the fundamental value of the asset, can reduce the value of the GSC. This can adversely affect interests earned by stablecoin holders.
As such, stablecoins holding a wide range of assets should have liquidity arrangements to ensure they have adequate funds to meet redemptions requests. That’s even when stablecoins experienced significant selling pressure.
#3. Legal, regulatory and oversight challenges
A clear and transparent legal framework is a core element of payment, clearing and settlement arrangements. Stablecoins should be underpinned by clear legal guidelines that specify, with certainty and predictability, material aspects of how parties utilize a coin’s underlying technical arrangements.
Stablecoins and their underlying technical and contractual arrangements vary considerably. Their legal regime depends on a stablecoin’s design. Therefore, it is important for stablecoin issuers and holders, and DeFi protocols to be transparent to avoid the following legal, regulatory and oversight issues that may affect stablecoin returns.
#4. Market integrity challenges
With stablecoins, there are fewer opportunities for price manipulation, as they try to reduce price volatility relative to fiat currencies. However, different stablecoins have unique pricing criteria. In some stablecoin arrangements, designated market-makers can have significant market power and the ability to influence stablecoin prices. This introduces the potential for market abuse and possibilities for manipulating stablecoin holders’ returns.
As well, stablecoin issuers can intentionally (or unintentionally) mislead stablecoin holders on critical functions like the management of collateral assets. These forms of manipulation can lead to mispricing and dysfunction in stablecoin markets. Notably, a single party can play the roles of market-maker, trading platform and custodial wallet within a stablecoin ecosystem. As a consequence, market misconduct can have amplified and adverse effects on stablecoin returns.
Can DeFi be the way forward?
There being opportunities and challenges towards stablecoin-holders earning interest from legacy Finance, one major question lingers: Can DeFi or DeFi protocols be the way forward?
Truthfully, the DeFi protocol has the potential to exploit opportunities and remedy challenges associated with stablecoins earning interest rates from traditional financial institutions.
To comprehend how DeFi protocols can enhance the possibility of stablecoins earning interest rates from traditional financial institutions, studying TradeFinex as a possible solution is important.
What’s TradeFinex?
TradeFinex is a Distributed protocol for sustainable finance that’s built over the XinFin Network XDC Protocol. The decentralized peer to peer global Trade & Infrastructure Finance platform enables special purpose vehicles from Fintechs or banks to Distribute their trade finance assets to stablecoin token holders to generate interest
Powered by XinFin’s enterprise-ready blockchain protocol, the peer-to-peer platform has some important features. They include decentralized platforms, asset tokenization, smart contracting, integrated wallets, regulatory sandbox environments, and global payments and settlements.
How does TradeFinex work?
Leveraging the XinFin’s Hybrid Blockchain technology, TradeFinex automates and streamlines infrastructure project finance.
Through the XDC Protocol, TradeFinex digitizes and tokenizes legacy trade instruments into DLT-token-based smart contracts. These smart contracts are fully regulated under the Abu Dhabi Global Market (ADGM).
As well, Banks and Fintechs, through the TradeFinex network, tokenize the Trade Finance Document after Securitization of the Assets Document and pay Distribution fees in XDC coins.
Source:(https://www.tradefinex.org/)
TradeFinex platform, a solution to Trade and Finance.
How can TradeFinex exploit opportunities offered by stablecoins?
TradeFinex can enhance financial inclusion through its globally-acceptable and accessible peer-to-peer payment system. Specifically, through XinFin’s XDC fueled tokenization scheme, the TradeFinex system can facilitate global trade and financing by eliminating the funding gap associated with disparate currencies around the world.
With XinFin’s common world token, Tradefinex can allow 1.7 billion adults on the globe who don’t have access to transaction accounts to access lending. That’s because investors or banks in developed economies, through XinFin’s XDC fueled tokenization scheme, have a way to overcome currency depreciation risks for any cross border investment or debt.
The TradeFinex platform offers real-time cross border payments and settlements via the XDC network. At the same time, the TradeFinex platform gives users incentives to form
XDC tokens for commerce. These features enable TradeFinex to exploit opportunities associated with stablecoins. Some of the opportunities include transferring funds via DLTs, providing more liquidity to markets, and reducing credit risk during cross-border transfers.
How does Tradefinex solve challenges that affect stablecoins’ ability to earn interest from Legacy Finance?
Regulated under the ADGM, Tradefinex overcomes challenges posed by stablecoins’ inadequacies and their implications on returns from Legacy Finance institutions.
With the UAE’s antitrust and competition laws, the focus is placed on a number of features. These include curbing monopolistic business practices, restricting economic concentration that may affect competition, and prohibiting restrictive agreements and practices that may enable firms to exploit their dominant position.
As a consequence, UAE’s antitrust and competition laws ensure that TradeFinex offers interest rates that are devoid of manipulation or that exploit their dominance in the market. This benefits digital transformation while safeguarding consumer trust in the financial system.
TradeFinex’s operations using stablecoins are regulated under the ADGM’s Financial Services and Markets Regulations 2015 (FSMR). As such, TradeFinex’s operations are licensed and regulated as Providing Money Services. Thus, digitization and tokenization of legacy trade instruments into token-based smart contracts are regulated under the FSMR to avert malpractices. This guarantees stablecoin holders suitable returns.
As well, under its crypto-asset framework, the Financial Services Regulatory Authority (FSRA) regulates TradeFinex businesses. That is all services that relate to crypto-asset exchanges, intermediaries and custodians.
With ADGM’s robust framework, the full range of risks associated with Tradefinex activities is checked. To the stablecoin holder, this means Tradefinex is adequately regulated to reduce risks associated with Legal, regulatory and oversight challenges.
How can different stakeholders participate?
#1.Stable coin holders
Stablecoin holders can participate in two ways: set up their nodes or join the TradeFinex network through their regulated custodian exchanges.
With pilot transactions set to begin in the first quarter of 2020, Tradefinex expects to start distribution with USD 100 Million in Tokenized trade Instruments. This value will later be scaled to the billions.
Notably, cryptocurrencies provide an alternative investment class. But, the legacy finance world hasn’t actively connected to crypto-asset holders. TradeFinex network, however, bridges this gap. Specifically, through TradeFinex’s open API platform that’s compatible with legacy systems and ISO20022, users can tokenize trade finance assets or securitize assets to alternative asset investors.
Through the XDC token that’s paired against major cryptocurrencies, stablecoin holders can invest in tokenized trade finance assets or securitized assets. This would enable stablecoin holders to earn interest from previously unreachable legacy finance entities around the globe.
As well, the XDC token can be traded with the Ethereum token called XDCE at a ratio of 1:1. This gives token holders the flexibility to hold tokens in either form for utility. At the same time, XDC can be swapped with the ERC-20 at a ratio of 1:1. This swap can be facilitated on the AlphaEx exchange, which is compatible with all decentralized exchanges and is present in liquidity markets. This would ensure coins holders can redeem their holdings without challenges.
#2. Regulated Digital/Crypto Asset Exchanges
Regulated digital or crypto-asset exchanges, through the Tradefinex network, can participate by offering interest-earning options for their users. Through the XDC protocol,crypto-asset exchanges can allow their users to trade in a variety of assets, thus earning some returns.
#3. Blockchain Platforms/Networks
Existing blockchain networks can easily interoperate with XDC Chains. Through atomic swaps, different blockchain-token holders can access trade finance assets. These would permit such holders to invest in trade finance assets.
#4. Regulated Digital/Crypto Asset Custodians
Through the Tradefinex network, Regulated Digital/Crypto Asset Custodians can offer interest-earning assets to their users. Specifically, through XinFin’s XDC trading pairs crypto-asset custodians can permit users to invest in a variety of previously unreached and interest-bearing assets.
5. Fintech Originators
With the TradeFinex network, Non-Bank Loan Asset originators or Trade Securitization SPVs can connect to TradeFinex Network via the XDC Protocol. This permits Fintech originators to securitize their assets and distribute them to alternative asset funders in the peer to peer TradeFinex Network.
#6. Banks
Banks can participate by distributing their Trade finance assets or securitizing their assets to alternative asset investors through digital/tokenization routes. This ensures banks Tokenize and Trade Cross border Trade Finance assets ensuring greater and highly-competitive liquidity
#7. DeFi Protocols
Notably, DeFi protocols can code on XinFin [XDC] Network and generate interest on their stablecoins.
Watch the video to Create Your Own Stablecoin: https://youtu.be/tsh0GCLucYU
Download XDC Wallet: https://play.google.com/store/apps/details?id=com.xdcwallet
At the same time, despite noteworthy improvements, the financial systems have major shortcomings: lack of universal access to financial services to a significant portion of the globe, inefficient cross-border transactions and lack of interoperability with blockchain protocols. This hinders stablecoin holders from earning interests from tokenized assets around the world.
Thanks to distributed ledger technology, legacy finance entities, and stablecoins can provide speed and convenience in accessing and settling payments in the global market. As well, stablecoin-holders can now earn interest via tokenized assets from legacy finance.
How can Stablecoin-Holders earn Interest from Legacy Finance?
Stablecoin holders can earn interests from legal finance through securitization and tokenization of assets.
What’s Securitization? Securitization is the process of converting, through financial engineering, an illiquid asset or group of assets into security.
What’s tokenization?
Tokenization is the process of issuing blockchain tokens (particularly, security tokens) that represents, digitally, the value of a tradable asset.
With securitization and tokenization, legacy financial organizations can use Security Tokens (STOs) to create digital representations of their assets. That is legacy finance can offer STOs to represent a share in a company, participation in an investment fund, or a piece of the organization’s assets. Such STOs can be sold in the exchange market as interest-bearing assets.
With tokens being exchanged at a predetermined ratio to popular stablecoins, stablecoin-holders can acquire STOs and earn interest, therein.
What challenges affect stablecoins’ ability to earn interest from legacy Finance?
Despite the opportunities, stablecoins and DeFi protocols have the potential to introduce a host of challenges and risks from an oversight, regulatory and public policy perspective.
Fundamentally, stablecoins and DeFi protocols are not similar. Thus, the opportunities and risks they introduce are dependent on the structure and design underlying each arrangement.
#1. Fair competition in financial markets
Regarding fair competition in financial markets, Global Stable Coins (GSC) arrangements have the potential to promote market concentration thus go against competition and antitrust policies. Due to strong networks that spur their adoption, GSC arrangements can achieve market dominance in a significantly short period.
In the event that GSC systems are built on proprietary systems, they’ll prohibit entry or increase barriers to entry to such systems. This may be the case where enterprises that govern the stablecoin arrangements control the key channels that consumers and businesses use to access a range of services.
Increased barriers of entry may adversely affect interest rates earned by stablecoin holders as GSCs that hold dominance can offer relatively low-interest rates. Conversely, with robust competition frameworks, GSCs will compete by providing better interest rate terms. This will benefit digital transformation while safeguarding consumer trust in the financial system.
#2. Financial stability implications
With GSCs and their ecosystems, fragilities like credit risk, operational risks, and maturity and liquidity mismatches may introduce challenges in earning interest rates for stablecoin holders.
Notably, GSCs whose reference assets include bank deposits can be exposed to liquidity risks and credit risks in the underlying bank. Elaborately, defaults or liquidity problems in a holding bank may limit GSC’s abilities to meet stablecoin and interest redemption requests.
At the same time, GSCs holding a wide range of assets may be exposed to liquidity and market risks associated with those assets and issuers’ credit risk. A fall in the reserve asset’s value, triggered by overall market conditions or by an idiosyncratic change in the fundamental value of the asset, can reduce the value of the GSC. This can adversely affect interests earned by stablecoin holders.
As such, stablecoins holding a wide range of assets should have liquidity arrangements to ensure they have adequate funds to meet redemptions requests. That’s even when stablecoins experienced significant selling pressure.
#3. Legal, regulatory and oversight challenges
A clear and transparent legal framework is a core element of payment, clearing and settlement arrangements. Stablecoins should be underpinned by clear legal guidelines that specify, with certainty and predictability, material aspects of how parties utilize a coin’s underlying technical arrangements.
Stablecoins and their underlying technical and contractual arrangements vary considerably. Their legal regime depends on a stablecoin’s design. Therefore, it is important for stablecoin issuers and holders, and DeFi protocols to be transparent to avoid the following legal, regulatory and oversight issues that may affect stablecoin returns.
#4. Market integrity challenges
With stablecoins, there are fewer opportunities for price manipulation, as they try to reduce price volatility relative to fiat currencies. However, different stablecoins have unique pricing criteria. In some stablecoin arrangements, designated market-makers can have significant market power and the ability to influence stablecoin prices. This introduces the potential for market abuse and possibilities for manipulating stablecoin holders’ returns.
As well, stablecoin issuers can intentionally (or unintentionally) mislead stablecoin holders on critical functions like the management of collateral assets. These forms of manipulation can lead to mispricing and dysfunction in stablecoin markets. Notably, a single party can play the roles of market-maker, trading platform and custodial wallet within a stablecoin ecosystem. As a consequence, market misconduct can have amplified and adverse effects on stablecoin returns.
Can DeFi be the way forward?
There being opportunities and challenges towards stablecoin-holders earning interest from legacy Finance, one major question lingers: Can DeFi or DeFi protocols be the way forward?
Truthfully, the DeFi protocol has the potential to exploit opportunities and remedy challenges associated with stablecoins earning interest rates from traditional financial institutions.
To comprehend how DeFi protocols can enhance the possibility of stablecoins earning interest rates from traditional financial institutions, studying TradeFinex as a possible solution is important.
What’s TradeFinex?
TradeFinex is a Distributed protocol for sustainable finance that’s built over the XinFin Network XDC Protocol. The decentralized peer to peer global Trade & Infrastructure Finance platform enables special purpose vehicles from Fintechs or banks to Distribute their trade finance assets to stablecoin token holders to generate interest
Powered by XinFin’s enterprise-ready blockchain protocol, the peer-to-peer platform has some important features. They include decentralized platforms, asset tokenization, smart contracting, integrated wallets, regulatory sandbox environments, and global payments and settlements.
How does TradeFinex work?
Leveraging the XinFin’s Hybrid Blockchain technology, TradeFinex automates and streamlines infrastructure project finance.
Through the XDC Protocol, TradeFinex digitizes and tokenizes legacy trade instruments into DLT-token-based smart contracts. These smart contracts are fully regulated under the Abu Dhabi Global Market (ADGM).
As well, Banks and Fintechs, through the TradeFinex network, tokenize the Trade Finance Document after Securitization of the Assets Document and pay Distribution fees in XDC coins.
Source:(https://www.tradefinex.org/)
TradeFinex platform, a solution to Trade and Finance.
How can TradeFinex exploit opportunities offered by stablecoins?
TradeFinex can enhance financial inclusion through its globally-acceptable and accessible peer-to-peer payment system. Specifically, through XinFin’s XDC fueled tokenization scheme, the TradeFinex system can facilitate global trade and financing by eliminating the funding gap associated with disparate currencies around the world.
With XinFin’s common world token, Tradefinex can allow 1.7 billion adults on the globe who don’t have access to transaction accounts to access lending. That’s because investors or banks in developed economies, through XinFin’s XDC fueled tokenization scheme, have a way to overcome currency depreciation risks for any cross border investment or debt.
The TradeFinex platform offers real-time cross border payments and settlements via the XDC network. At the same time, the TradeFinex platform gives users incentives to form
XDC tokens for commerce. These features enable TradeFinex to exploit opportunities associated with stablecoins. Some of the opportunities include transferring funds via DLTs, providing more liquidity to markets, and reducing credit risk during cross-border transfers.
How does Tradefinex solve challenges that affect stablecoins’ ability to earn interest from Legacy Finance?
Regulated under the ADGM, Tradefinex overcomes challenges posed by stablecoins’ inadequacies and their implications on returns from Legacy Finance institutions.
With the UAE’s antitrust and competition laws, the focus is placed on a number of features. These include curbing monopolistic business practices, restricting economic concentration that may affect competition, and prohibiting restrictive agreements and practices that may enable firms to exploit their dominant position.
As a consequence, UAE’s antitrust and competition laws ensure that TradeFinex offers interest rates that are devoid of manipulation or that exploit their dominance in the market. This benefits digital transformation while safeguarding consumer trust in the financial system.
TradeFinex’s operations using stablecoins are regulated under the ADGM’s Financial Services and Markets Regulations 2015 (FSMR). As such, TradeFinex’s operations are licensed and regulated as Providing Money Services. Thus, digitization and tokenization of legacy trade instruments into token-based smart contracts are regulated under the FSMR to avert malpractices. This guarantees stablecoin holders suitable returns.
As well, under its crypto-asset framework, the Financial Services Regulatory Authority (FSRA) regulates TradeFinex businesses. That is all services that relate to crypto-asset exchanges, intermediaries and custodians.
With ADGM’s robust framework, the full range of risks associated with Tradefinex activities is checked. To the stablecoin holder, this means Tradefinex is adequately regulated to reduce risks associated with Legal, regulatory and oversight challenges.
How can different stakeholders participate?
#1.Stable coin holders
Stablecoin holders can participate in two ways: set up their nodes or join the TradeFinex network through their regulated custodian exchanges.
With pilot transactions set to begin in the first quarter of 2020, Tradefinex expects to start distribution with USD 100 Million in Tokenized trade Instruments. This value will later be scaled to the billions.
Notably, cryptocurrencies provide an alternative investment class. But, the legacy finance world hasn’t actively connected to crypto-asset holders. TradeFinex network, however, bridges this gap. Specifically, through TradeFinex’s open API platform that’s compatible with legacy systems and ISO20022, users can tokenize trade finance assets or securitize assets to alternative asset investors.
Through the XDC token that’s paired against major cryptocurrencies, stablecoin holders can invest in tokenized trade finance assets or securitized assets. This would enable stablecoin holders to earn interest from previously unreachable legacy finance entities around the globe.
As well, the XDC token can be traded with the Ethereum token called XDCE at a ratio of 1:1. This gives token holders the flexibility to hold tokens in either form for utility. At the same time, XDC can be swapped with the ERC-20 at a ratio of 1:1. This swap can be facilitated on the AlphaEx exchange, which is compatible with all decentralized exchanges and is present in liquidity markets. This would ensure coins holders can redeem their holdings without challenges.
#2. Regulated Digital/Crypto Asset Exchanges
Regulated digital or crypto-asset exchanges, through the Tradefinex network, can participate by offering interest-earning options for their users. Through the XDC protocol,crypto-asset exchanges can allow their users to trade in a variety of assets, thus earning some returns.
#3. Blockchain Platforms/Networks
Existing blockchain networks can easily interoperate with XDC Chains. Through atomic swaps, different blockchain-token holders can access trade finance assets. These would permit such holders to invest in trade finance assets.
#4. Regulated Digital/Crypto Asset Custodians
Through the Tradefinex network, Regulated Digital/Crypto Asset Custodians can offer interest-earning assets to their users. Specifically, through XinFin’s XDC trading pairs crypto-asset custodians can permit users to invest in a variety of previously unreached and interest-bearing assets.
5. Fintech Originators
With the TradeFinex network, Non-Bank Loan Asset originators or Trade Securitization SPVs can connect to TradeFinex Network via the XDC Protocol. This permits Fintech originators to securitize their assets and distribute them to alternative asset funders in the peer to peer TradeFinex Network.
#6. Banks
Banks can participate by distributing their Trade finance assets or securitizing their assets to alternative asset investors through digital/tokenization routes. This ensures banks Tokenize and Trade Cross border Trade Finance assets ensuring greater and highly-competitive liquidity
#7. DeFi Protocols
Notably, DeFi protocols can code on XinFin [XDC] Network and generate interest on their stablecoins.
Watch the video to Create Your Own Stablecoin: https://youtu.be/tsh0GCLucYU
Download XDC Wallet: https://play.google.com/store/apps/details?id=com.xdcwallet
February 13, 2020, 01:07:47 AM
TradeFinex 2020 - Abu Dhabi Part 1 | RegLab Explained by Dr. Bhaskar Dasgupta, Associate Director - Financial Centre Development, Abu Dhabi Global Market (ADGM)
Watch the full video on YouTube: https://youtu.be/FZhSpnJICxE
Watch the full video on YouTube: https://youtu.be/FZhSpnJICxE
January 27, 2020, 06:35:08 AM
London, 27 January 2020 — London based institutional custody & prime brokerage firm, copper.co, today announced support to the trade finance-focused blockchain network XinFin. Their bespoke digital custody solution facilitates XinFin and TradeFinex’s institutional and crypto hedge fund customers to store the digital asset token XDCe.
Copper.co provides support for XDCe across its institutional hot and cold wallet solutions. Copper.co pioneered multi-signature security for a wide range of digital assets in 2018. All digital assets supported by Copper.co are integrated using the company’s single API so no additional coding is required for clients to add XDCe.
The firm’s walled garden now covers 96% of global crypto liquidity and is seeing over £500 million in transactions each month — with that figure growing steadily.
Ritesh Kakkad, Co-founder at XinFin and TradeFinex, added:
“In 2020, appropriate custody services are the most critical element for institutional adoption of digital assets. With Copper’s custodial services now available for XDCe, regulated institutions like banks, crypto hedge funds, and financial entities will have a secure solution to store their digitized XDCe holdings. Copper is also planning to provide support for XinFin’s primary chain coin XDC in the near future.”
Dmitry Tokarev, CEO of copper.co commented:
“The XinFin Network is one of the most enterprise-friendly blockchain networks ever created, and we’re proud they have chosen Copper for their institutional digital asset custody.
“Institutions need a lot more than an app with pretty charts. They need proper security, which includes technology, insurance, people, and business processes — as well as exceptional client service. We’re proud to have earned XinFin’s trust and their business.”
About Copper:
Copper designs & develops the award-winning infrastructure which enables institutions to acquire, store, and trade digital assets in a manner that satisfies global investors and regulatory standards. Its multi-signature safeguarding application allows institutions to have complete certainty that their capital is not at risk of theft, whether it be from hackers or bad players in the industry. Copper is also one of the few digital asset custody solutions to be insured against crime, including theft of fiat or digital assets — with a comprehensive policy brokered by Aon in London.
More at the details: https://copper.co
About XinFin.Network:
XinFin is an open-source enterprise-ready hybrid blockchain for global trade and finance use case TradeFinex.org A P2P Network for Trade Finance Originators to Distribute Trade Assets to the Growing Class of Alternative Asset Investors. Trade Finance Market is expected to reach USD 71Billion by the end of 2024.
For more information on XinFin Network, please visit XinFin.org.
January 13, 2020, 01:49:00 PM
January 10, 2020, 04:43:27 AM
We would like to invite you for a Presentation/Demo of P2P Trade Finance Network - TradeFinex.org :
Date: 27th January 2020
Time: 2 PM to 5 PM
Place: ADGM Academy, Al Maqam Tower, 20th Floor ADGM Square, Al Maryah Island, Abu Dhabi, UAE.
Agenda:
Learn how a rapidly growing secure asset class is being generated with fully online loan origination for Trade Finance
Learn how the origination asset class can be distributed to alternative asset funders on a peer to peer TradeFinex Network
Learn how Alternative asset funders can generate rewards by running TradeFinex/XDC Masternodes
Learn how Alternative Asset Funders can realize relatively risk-free returns on quality-verified Trade Finance origination assets through their own self custody cloud nodes that lets them mitigate fraud and settlement counterparty risk.
Who Should Attend?
Origination Side:
Corporate Treasuries [Buyes]
Small and Medium Enterprises [Suppliers]
Trade Finance Originators [Fintechs]
Trade Finance Consultants/Brokers
Funding Side:
Alternative Asset Funders
Real Money Individuals
Family Offices
Private Equity Funds
Pension Funds
Sovereign Funds
Anyone who wishes to participate in Private Debt
NOTE: Snacks Tea/Coffee will be served
Register here : https://www.eventbrite.sg/e/tradefinex-2020-abu-dhabi-tickets-88488947825
December 16, 2019, 04:56:17 AM
XinFin invites its existing as well as new global users to set-up masternode using a one-click installer function, and make an impact in the world of decentralized trade and finance.
One-Click Installer from XinFin for macOS
XinFin developer community has been working tirelessly to make XinFin tech simpler and to make it easily accessible to masses. We are happy to present a multi-platform one-click installer that makes setting up a node seamlessly easy.
XinFin invites you to join the Bounty Program and run masternode on XinFin Network.
Let’s have a look at how to set up a XinFin One-Click Installer for macOS.
Setting up XinFin One-Click Installer for macOS
1) Download the One-Click Installer: https://xinfin.org/setup-masternode.php This option is available for Windows macOS and Linux OS.
2) Now, run the downloaded file to start the installation.
3) After installing the one-click installer user will need to send the one-click installer to application
4) After that, you will find your one-click installer on your macOS application.
5) To access the application, start XinFin Network where you will see the node info and the hosted master node.
6) If you want to see your blocks getting synced, you can see at your log file.
7) You can see your master node status at XinFin.network
You can easily switch your network from testnet apothem.network to mainnet Xinfin.network
Future Provisions
XinFin is developed with a vision of being an interoperable hybrid platform that can work with mission-critical, data and price-sensitive legacy systems as well as decentralized networks like Bitcoin and Ethereum.
XinFin Network will be supporting interoperability for the below-mentioned platforms in the near future: R3 Corda, Hyperledger, ETH, BTC, XRP, Stellar, EOS, Tezos, Cosmos, and Tron
XinFin invites users to set-up masternode
Whether you are a financial institution, a federal agency or a developer, you can easily set-up a masternode using the above-mentioned one-click installer guide. XinFin invites its existing as well as new global users to set-up masternode using a one-click installer function, and make an impact in the world of decentralized trade and finance. So, Setup Masternode Now and be a part of the XinFin ecosystem.
About XinFin
XinFin is an open-source enterprise-ready Hybrid Blockchain for Global Trade and Finance. It combines the power of public and private Blockchains with interoperable smart contracts. XinFin is fully EVM compatible. For more information on XinFin, please visit www.xinfin.org or learn more about XinFin in this video https://www.youtube.com/watch?v=K-tHZkV6zAs.
Useful link for XinFin Masternode
Steps to Setup Masternode on XinFin MainNet
XinFin Mobile Wallet
XinFin Web Wallet
Steps to resign master node
Step by step guide to issue your own token on XinFin network
Step by step guide to swap token on XinFin network
Guide to setup node with one click installer
Watch the video to Setup XinFin Masternode with One-Click installer
Follow XinFin on:
Twitter: @XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram: https://t.me/xinfintalk
Slack: https://launchpass.com/xinfin-public
One-Click Installer from XinFin for macOS
XinFin developer community has been working tirelessly to make XinFin tech simpler and to make it easily accessible to masses. We are happy to present a multi-platform one-click installer that makes setting up a node seamlessly easy.
XinFin invites you to join the Bounty Program and run masternode on XinFin Network.
Let’s have a look at how to set up a XinFin One-Click Installer for macOS.
Setting up XinFin One-Click Installer for macOS
1) Download the One-Click Installer: https://xinfin.org/setup-masternode.php This option is available for Windows macOS and Linux OS.
2) Now, run the downloaded file to start the installation.
3) After installing the one-click installer user will need to send the one-click installer to application
4) After that, you will find your one-click installer on your macOS application.
5) To access the application, start XinFin Network where you will see the node info and the hosted master node.
6) If you want to see your blocks getting synced, you can see at your log file.
7) You can see your master node status at XinFin.network
You can easily switch your network from testnet apothem.network to mainnet Xinfin.networkFuture Provisions
XinFin is developed with a vision of being an interoperable hybrid platform that can work with mission-critical, data and price-sensitive legacy systems as well as decentralized networks like Bitcoin and Ethereum.
XinFin Network will be supporting interoperability for the below-mentioned platforms in the near future: R3 Corda, Hyperledger, ETH, BTC, XRP, Stellar, EOS, Tezos, Cosmos, and Tron
XinFin invites users to set-up masternode
Whether you are a financial institution, a federal agency or a developer, you can easily set-up a masternode using the above-mentioned one-click installer guide. XinFin invites its existing as well as new global users to set-up masternode using a one-click installer function, and make an impact in the world of decentralized trade and finance. So, Setup Masternode Now and be a part of the XinFin ecosystem.
About XinFin
XinFin is an open-source enterprise-ready Hybrid Blockchain for Global Trade and Finance. It combines the power of public and private Blockchains with interoperable smart contracts. XinFin is fully EVM compatible. For more information on XinFin, please visit www.xinfin.org or learn more about XinFin in this video https://www.youtube.com/watch?v=K-tHZkV6zAs.
Useful link for XinFin Masternode
Steps to Setup Masternode on XinFin MainNet
XinFin Mobile Wallet
XinFin Web Wallet
Steps to resign master node
Step by step guide to issue your own token on XinFin network
Step by step guide to swap token on XinFin network
Guide to setup node with one click installer
Watch the video to Setup XinFin Masternode with One-Click installer
Follow XinFin on:
Twitter: @XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram: https://t.me/xinfintalk
Slack: https://launchpass.com/xinfin-public
December 11, 2019, 08:53:07 PM
What a big scam this project is!
December 10, 2019, 08:36:48 AM
What is XinFin Remix?
XinFin Remix is a web browser-based Integrated Development Environment (IDE) that allows users to write Solidity smart contracts and compile, deploy and run those smart contracts on XinFin Blockchain Network.
New and Upgraded Structure for XinFin Remix
Icon Panel: You can click on the Icon panel to change what plugins appear in the Side Panel
Side Panel: Most but not all plugins have their GUI in the Side Panel.
Main Panel: In the old layout, this was only meant for editing files. In the new layout, however, the Main Panel holds plugins as well as files for the IDE to compile.
Terminal: The Terminal shows you the results of your interactions with the GUIs. You can also run scripts in this section.
Icon Panel at Page Load
When you load Remix, the ‘Icon’ panel shows these icons by default.
In the upgraded version, everything in Remix is a plugin, making the Plugin Manager highly crucial. On the contrary, each basic task was separated into the tabs in the old layout of Remix. These tabs are now redesigned as plugins.
The number of plugins you’re using at a single time might affect the page loading and make it slightly tedious due to the power required to activate the plugins.
Homepage
The homepage is located on the top left corner of the tab in the Main Panel.
Clicking on the Remix logo at the top of the Icon panel also opens the Homepage.
Environments
You can click on one of the environment buttons to load a collection of plugins.
In our new version, we have a Solidity Button and a Vyper button, but you will be able to save your own environment in the near future.
To see all the plugins, go to the plugin manager by selecting the Plugin icon in the Icon panel.
The Environment buttons are time & sanity savers so you don’t need to access the plugin manager to get started every time you load the page.
Plugin Manager
We wanted to make Remix flexible for integrating changes into its functionality and for integrating Remix into other projects such as yours. So we transformed everything into a plugin. With this, you only require to load the functionality you need. To let you easily manage and turn your plugins on and off as per your need, we have the Plugin Manager.
You can also create your own plugin and load your local plugin into Remix using the Plugin Manager. You can do so by clicking the “Connect to a Local Plugin” link at the top of the Plugin Manager panel.
Themes
To make working on Remix fun and more friendly, we added the themes section. You can now work with a dark theme or a grey theme or just any custom theme that best fits your needs.
To choose a theme, go to the settings tab and you can find several bootstrap-based themes towards the bottom of the page.
File Explorer
To go to the file explorer, click the ‘File Explorer’ icon.
The file explorer by default lists all the files stored in your browser. You can see them in the browser folder and rename, remove or add new files to the file explorer.
Note: Clearing the browser storage will permanently delete all the solidity files you wrote. To avoid this, you can use Remix, which enables you to store and sync files in the browser with your local computer.
Create a New File
You can use the ‘create new file’ option to create a new untitled.sol file in Remix.
Add Local File
If you want to import a local file to the Remix browser storage, you can do so with the ‘add local file’ option.
Publish to Gist
You can publish all files from the browser folder to a gist using this feature.
It must be noted that Gist API has changed in 2018 and it now requires users to be authenticated before they can publish a gist.
Click this link to Github tokens setup and select Generate new token. Check only the ‘Create Gists’ checkbox and generate a new token.
Then paste it in Remix (right panel/Settings tab) and click Save. Now you will be able to use the feature.
Copy to another Remix instance
This feature enables you to copy files from the browser storage to another instance (URL) of Remix.
Connect your filesystem to Remix
You can use this to sync between Remix and your local file system.
Plugin Manager
Everything is a PLUGIN in Remix
To make it easier to integrate new tools made by us and by you into Remix, we’ve now made everything a plugin. This architecture allows Remix or any part of Remix to be integrated into other projects in a simpler way.
With the advent of Plugins, you will only have to load the functionality you need. It also gives you the benefit of turning off and on plugins as per your need.
You can manage all your plugins in the Pugin Manager, which is also the section of Remix where you can create your own plugin or load your local plugin into Remix.
To do the latter, you can click on the “Connect to a Local Plugin” link at the top of the Plugin Manager panel.
To learn more about how to create your own plugin, go to the README of Remix-plugin repo.
Settings
You can access Settings by clicking the gear icon at the bottom of the icon panel.
You can find a link to the homepage (if you closed it) as well as a link to our Gitter Channel. We also have a rather large list of themes for all you aesthetes out there.
Another important setting:
Text wrap: Use this to control how the text in the editor should be wrapped.
Enable optimization: This defines if the compiler should enable optimization during compilation. You can enable this option to save execution gas. It is useful to enable optimization for contracts ready to be deployed in production but could lead to some inconsistencies when debugging such a contract.
Solidity Editor
The Remix editor recompiles the code whenever the current file is changed or another file is selected. It also provides syntax highlighting mapped to solidity keywords.
Here’s the list of some important features:
It displays opened files as tabs.
Compilation Warning and Error are displayed in the gutter.
Remix automatically saves the current file every five seconds.
+/- on the top left corner can be used to alter the font size of the editor.
Terminal
Primary features available in the terminal:
It integrates a JavaScript interpreter and the web3 object. It enables the execution of the JavaScript script which interacts with the current context. (note that web3 is only available if the web provider or injected provider mode is selected).
It displays important actions made while interacting with the Remix IDE (i.e. sending a new transaction).
It displays transactions that are mined in the current context. You can choose to display all transactions or only transactions that refer to the contracts Remix knows (e.g transaction created from the Remix IDE).
It allows searching for the data and clearing the logs from the terminal.
It allows you to run scripts by inputting them at the bottom after the >.
Compiler (Solidity)
Clicking the Solidity icon in the Icon panel will take you to the Solidity Compiler.
By default, you need to click the compile button to trigger compilation(D. in the image below). You can check the auto compile checkbox in case you want the file to be compiled each time the file is saved or when another file is selected (E. in the image below).
Since the release of Solidity version 0.5.7, it is possible to compile Yul files. Please read the solidity documentation about Yul which contains some code examples.
You can use the language dropdown (B. in the image below) to switch the language. This dropdown list is only available for versions 0.5.7 and beyond.
The fork selection dropdown list (C. in the image below) allows you to compile code against a specific ethereum hard fork. The compiler default corresponds to the default hard fork used by a specific version.
Please go to “Compilation Details” (G. in the image below) in the settings of the Metadata section to see the harfork name used for the current compilation.
If the contract has a lot of dependencies, it can take a while to compile. So you can use auto compilation at your discretion for instantaneous compilation.
After each compilation, a list is updated with all newly compiled contracts. A compiled contract can then be selected with the Contract pulldown menu (F. in the image below).
Multiple contracts are compiled when one contract imports other contracts. You can select any of these contracts to check the information regarding that.
On clicking the “Compilation Details” button (G. in the image below), a modal opens displaying detailed information about the currently selected contract.
You can also publish your non-abstract contract to Swarm from the same tab.
Published data notably contains the ABI and the solidity source code.
After a contract is published, you can find its metadata information using the bzz URL located in the details modal dialogue SWARM LOCATION.
After each compilation, the static analysis tab builds a report, which is very valuable when addressing reported issues even if the compiler doesn’t complain. Any compilation error or warning is displayed below the contract section.
Deploy & Run
You can send transactions to the current environment using the Deploy & Run module.
To go to Deploy & Run module, click the ‘Run’ icon in the Icon panel.
In order to use this module, you need to have a contract compiled. So, if there is a contract name in the contract select box (in the image below it’s the pulldown that says Ballot), you can interact with this contract otherwise you need to select a new contract. To do that, you need to click the file in the editor panel to make it the active tab (in the image below, on the right side of the page in the main panel, the ballot.sol is the active contract). Once it’s active, go to the compiler module and compile it. You can then use the Deploy & Run module.
Run Setup
The following settings allow you to directly influence the transaction execution:
Environment:
JavaScript VM: All the transactions will be executed in a sandbox blockchain in the browser. This means nothing will persist after you reload the page. The JsVM is its own blockchain and on every reload it initiates a new blockchain without saving the old one.
Injected Provider: Remix will connect to an injected web3 provider. Metamask is an example of a provider that injects web3.
Web3 Provider: Remix will connect to a remote node. You will need to provide the URL to the selected provider: Geth, Parity or any other Ethereum client.
Account:
Account: It represents the list of accounts associated with the current environment and their associated balances. On the JsVM, you have a choice of 5 accounts. If you use Injected Web3 with MetaMask, you need to change the account in MetaMask.
Gas Limit:
This sets the maximum amount of gas that will be allowed for all the transactions created in Remix.
Value:
This sets the amount of ETH, WEI, GWEI, etc. that are sent to a contract or a payable function. The value is always reset to 0 after each transaction execution. (Note: payable functions have a red button).
Initiate Instance
In the above image, the select box is set to Ballot. This select box will contain the list of compiled contracts.
Deploy sends a transaction that deploys the selected contract. When the transaction is mined, the newly created instance gets added (this might take several seconds). Note: if the constructor has parameters, you need to specify them.
At Address is used to access a contract that has already been deployed. It assumes that the given address is an instance of the selected contract. Note: There’s no check at this point, so be cautious when using this feature, and be sure you trust the contract at that address.
Pending Instances
Validating a transaction might take several seconds. During this time, the GUI shows it in pending mode. When the transaction is mined, the number of pending transactions is updated and the transaction is added to the log (see terminal).
Using the ABI
Using Deploy or At Address is a classic use case of Remix. However, it is possible to interact with a contract by using its ABI. The ABI is a JSON array that describes its interface.
To interact with a contract using the ABI, create a new file in Remix with extension *.abi and copy the ABI content to it. Then, in the input next to At Address, put the Address of the contract you want to interact with. Click on At Address, and a new “connection” with the contract will popup below.
Using the Recorder
A Recorder is a tool used to save a bunch of transactions in a JSON file and rerun them later in either the same environment or in another.
Saving to the JSON file (called senario.json by default) allows one to easily check the transaction list, tweak input parameters, change linked library, etc.
There are many use cases for the Recorder such as
After coding and testing contracts in a constrained environment (like the JavaScript VM), you can change the environment and redeploy it to a more realistic environment like a test net with an injected web3 or to a Geth node. The generated senario.json file has the same settings that are used in the Javascript VM. This means that you won’t need to click the interface multiple times to get the state that you achieved originally, making the Recorder a tool that saves you from a lot of hassle.
You can also change the settings in the senario.json file to customize the playback.
Deploying a contract often requires more than creating one transaction and so the recorder will automate this deployment.
Working in a dev environment requires to set up the state in the first place.
senario.json
To create this file in the recorder, you first need to run some transactions. In the above image, it has a 0 next to Transactions Recorded. This signifies that it isn’t the right moment to save transactions because there aren’t any. The number increase with every transaction you make. Then when you are ready, click the floppy disk icon to create the senario.json file.
The JSON file below is an example of the senario.json file.
In it, 3 transactions are executed:
The first corresponds to the deployment of the lib testLib.
The second corresponds to the deployment of the contract test with the first parameter of the constructor set to 11. That contract depends on the library. The linkage is done using the property link references. In that case, we use the address of the previously created library: created{1512830014773}. The number is the ID (timestamp) of the transaction that led to the creation of the library.
The third record corresponds to the call to the function set of the contract test (the property is set to created{1512830015080}). Input parameters are 1 and 0xca35b7d915458ef540ade6068dfe2f44e8fa733c
All these transactions are created using the value of the accounts account{0}.
{
"accounts": {
"account{0}": "xdcca35b7d915458ef540ade6068dfe2f44e8fa733c"
},
"linkReferences": {
"testLib": "created{1512830014773}"
},
"transactions": [
{
"timestamp": 1512830014773,
"record": {
"value": "0",
"parameters": [],
"abi": "0xbc36789e7a1e281436464229828f817d6612f7b477d66591ff96a9e064bcc98a",
"contractName": "testLib",
"bytecode": "60606040523415600e57600080fd5b60968061001c6000396000f300606060405260043610603f5 76000357c0100000000000000000000000000000000000000000000000000000000900463ffffff ff1680636d4ce63c146044575b600080fd5b604a6060565b6040518082815260200191505060405 180910390f35b6000610d809050905600a165627a7a7230582022d123b15248b8176151f8d45c2d c132063bcc9bb8d5cd652aea7efae362c8050029",
"linkReferences": {},
"type": "constructor",
"from": "account{0}"
}
},
{
"timestamp": 1512830015080,
"record": {
"value": "100",
"parameters": [
11
],
"abi": "0xc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec",
"contractName": "test",
"bytecode": "60606040526040516020806102b1833981016040528080519060200190919050508060008190555 05061027a806100376000396000f300606060405260043610610062576000357c01000000000000 00000000000000000000000000000000000000000000900463ffffffff1680632f30c6f61461006 757806338cc48311461009e57806362738998146100f357806387cc10e11461011c575b600080fd 5b61009c600480803590602001909190803573ffffffffffffffffffffffffffffffffffffffff1 6906020019091905050610145565b005b34156100a957600080fd5b6100b1610191565b60405180 8273ffffffffffffffffffffffffffffffffffffffff1673fffffffffffffffffffffffffffffff fffffffff16815260200191505060405180910390f35b34156100fe57600080fd5b6101066101bb 565b6040518082815260200191505060405180910390f35b341561012757600080fd5b61012f610 1c4565b6040518082815260200191505060405180910390f35b8160008190555080600160006101 000a81548173ffffffffffffffffffffffffffffffffffffffff021916908373fffffffffffffff fffffffffffffffffffffffff1602179055505050565b6000600160009054906101000a900473ff ffffffffffffffffffffffffffffffffffffff16905090565b60008054905090565b600073__bro wser/ballot.sol:testLib____________636d4ce63c6000604051602001526040518163ffffffff167c0100000000 0000000000000000000000000000000000000000000000000281526004016020604051808303818 6803b151561022e57600080fd5b6102c65a03f4151561023f57600080fd5b505050604051805190 509050905600a165627a7a72305820e0b2510bb2890a0334bfe5613d96db3e72442e63b514cdeae e8fc2c6bbd19d3a0029",
"linkReferences": {
"browser/ballot.sol": {
"testLib": [
{
"length": 20,
"start": 511
}
]
}
},
"name": "",
"type": "constructor",
"from": "account{0}"
}
},
{
"timestamp": 1512830034180,
"record": {
"value": "1000000000000000000",
"parameters": [
1,
"xdcca35b7d915458ef540ade6068dfe2f44e8fa733c"
],
"to": "created{1512830015080}",
"abi": "0xc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec",
"name": "set",
"type": "function",
"from": "account{0}"
}
}
],
"abis": {
"0xbc36789e7a1e281436464229828f817d6612f7b477d66591ff96a9e064bcc98a": [
{
"constant": true,
"inputs": [],
"name": "get",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
}
],
"0xcc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec": [
{
"constant": true,
"inputs": [],
"name": "getInt",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": true,
"inputs": [],
"name": "getFromLib",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": true,
"inputs": [],
"name": "getAddress",
"outputs": [
{
"name": "",
"type": "address"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": false,
"inputs": [
{
"name": "_t",
"type": "uint256"
},
{
"name": "_add",
"type": "address"
}
],
"name": "set",
"outputs": [],
"payable": true,
"stateMutability": "payable",
"type": "function"
},
{
"inputs": [
{
"name": "_r",
"type": "uint256"
}
],
"payable": true,
"stateMutability": "payable",
"type": "constructor"
}
]
}
}
Deployed contracts
This section in the Run tab contains a list of deployed contracts to interact with through the auto-generated UI of the deployed contract also called udapp.
Click the sideways caret to open it up.
You will see the functions in the contract. The functions buttons can have different color buttons.
Functions that are constant or pure functions in Solidity have blue buttons. Clicking one of these does not create a new transaction. So clicking will not cause state changes but will only return a value stored in the contract without costing you a gas fee.
Functions that change the state of the contract AND that do not accept Ether is called non-payable functions and have an orange button. Clicking on them will create a transaction and thus will cost gas.
Functions that have red buttons are payable functions in Solidity. Clicking one of these will create a new transaction which can accept a value. The value is put in the Value field which is under the Gas Limit field.
For more information see more about the Solidity modifier.
If a function requires input parameters you will have to input them.
Inputting parameters
Inputting parameters in the collapsed view
(Inputting all the parameters in a single input box)
Parameters are separated by commas.
The input box tells you the type of each parameter.
Numbers and addresses need not be wrapped in double-quotes.
Strings need to be wrapped.
In the example above the “delegate” function has 3 parameters.
Inputting parameters in the expanded view
Clicking the ‘down’ caret brings you to the Multi-param Manager, where you can input the parameters one at a time. Much less confusing!
In this view, even strings need not be wrapped.
Clicking the clipboard icon will encode the inputs and will copy them. Only a valid set of inputs can be encoded.
So in case you mistakenly input a unit in place of an address, clicking the clipboard will return you an error.
Passing in a tuple or a struct to a function
To pass a tuple in, you need to put in an array [].
Similarly, to pass in a struct as a parameter of a function, it needs to be put in as an array []. Also, note that the line pragma experimental ABIEncoderV2; needs to put in at the top of the solidity file.
Debugger
The Debugger module allows you to debug the transaction. You can use it to deploy transactions created from Remix and already mined transactions.
Debugging works only if the current environment provides the necessary features.
To access the debugger, you can click the ‘Debug’ button in the terminal when a successful or failed transaction appears there. Alternately, you can load the module from the plugin manager and then click the bug in the icon panel. Or you can run the debug command in the console to go to the debugger.
This section gives information about the last compilation. By default, a new analysis is run at each compilation.
The analysis tab gives detailed information about the contract code. These details can help you avoid code mistakes and prompt best practices for you.
Here is the list of analyzers:
Security:
Transaction Origin: Warns if tx.origin is used.
Check Effects: Avoid potential reentrancy bugs.
Inline Assembly: Use of Inline Assembly.
Block Timestamp: Semantics may be unclear.
Low-level Calls: Semantics may be unclear.
Block.blockhash Usage: Semantics may be unclear.
Gas & Economy:
Gas Costs: Warns if the gas requirements of the functions are too high.
This On Local Calls: Invocation of local functions via this.
Miscellaneous:
Constant Functions: Checks for potentially constant functions.
Similar Variable Names: Checks if variable names are too similar.
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XinFin Remix is a web browser-based Integrated Development Environment (IDE) that allows users to write Solidity smart contracts and compile, deploy and run those smart contracts on XinFin Blockchain Network.
New and Upgraded Structure for XinFin Remix
Icon Panel: You can click on the Icon panel to change what plugins appear in the Side Panel
Side Panel: Most but not all plugins have their GUI in the Side Panel.
Main Panel: In the old layout, this was only meant for editing files. In the new layout, however, the Main Panel holds plugins as well as files for the IDE to compile.
Terminal: The Terminal shows you the results of your interactions with the GUIs. You can also run scripts in this section.
Icon Panel at Page Load
When you load Remix, the ‘Icon’ panel shows these icons by default.
In the upgraded version, everything in Remix is a plugin, making the Plugin Manager highly crucial. On the contrary, each basic task was separated into the tabs in the old layout of Remix. These tabs are now redesigned as plugins.
The number of plugins you’re using at a single time might affect the page loading and make it slightly tedious due to the power required to activate the plugins.
Homepage
The homepage is located on the top left corner of the tab in the Main Panel.
Clicking on the Remix logo at the top of the Icon panel also opens the Homepage.
Environments
You can click on one of the environment buttons to load a collection of plugins.
In our new version, we have a Solidity Button and a Vyper button, but you will be able to save your own environment in the near future.
To see all the plugins, go to the plugin manager by selecting the Plugin icon in the Icon panel.
The Environment buttons are time & sanity savers so you don’t need to access the plugin manager to get started every time you load the page.
Plugin Manager
We wanted to make Remix flexible for integrating changes into its functionality and for integrating Remix into other projects such as yours. So we transformed everything into a plugin. With this, you only require to load the functionality you need. To let you easily manage and turn your plugins on and off as per your need, we have the Plugin Manager.
You can also create your own plugin and load your local plugin into Remix using the Plugin Manager. You can do so by clicking the “Connect to a Local Plugin” link at the top of the Plugin Manager panel.
Themes
To make working on Remix fun and more friendly, we added the themes section. You can now work with a dark theme or a grey theme or just any custom theme that best fits your needs.
To choose a theme, go to the settings tab and you can find several bootstrap-based themes towards the bottom of the page.
File Explorer
To go to the file explorer, click the ‘File Explorer’ icon.
The file explorer by default lists all the files stored in your browser. You can see them in the browser folder and rename, remove or add new files to the file explorer.
Note: Clearing the browser storage will permanently delete all the solidity files you wrote. To avoid this, you can use Remix, which enables you to store and sync files in the browser with your local computer.
Create a New File
You can use the ‘create new file’ option to create a new untitled.sol file in Remix.
Add Local File
If you want to import a local file to the Remix browser storage, you can do so with the ‘add local file’ option.
Publish to Gist
You can publish all files from the browser folder to a gist using this feature.
It must be noted that Gist API has changed in 2018 and it now requires users to be authenticated before they can publish a gist.
Click this link to Github tokens setup and select Generate new token. Check only the ‘Create Gists’ checkbox and generate a new token.
Then paste it in Remix (right panel/Settings tab) and click Save. Now you will be able to use the feature.
Copy to another Remix instance
This feature enables you to copy files from the browser storage to another instance (URL) of Remix.
Connect your filesystem to Remix
You can use this to sync between Remix and your local file system.
Plugin Manager
Everything is a PLUGIN in Remix
To make it easier to integrate new tools made by us and by you into Remix, we’ve now made everything a plugin. This architecture allows Remix or any part of Remix to be integrated into other projects in a simpler way.
With the advent of Plugins, you will only have to load the functionality you need. It also gives you the benefit of turning off and on plugins as per your need.
You can manage all your plugins in the Pugin Manager, which is also the section of Remix where you can create your own plugin or load your local plugin into Remix.
To do the latter, you can click on the “Connect to a Local Plugin” link at the top of the Plugin Manager panel.
To learn more about how to create your own plugin, go to the README of Remix-plugin repo.
Settings
You can access Settings by clicking the gear icon at the bottom of the icon panel.
You can find a link to the homepage (if you closed it) as well as a link to our Gitter Channel. We also have a rather large list of themes for all you aesthetes out there.
Another important setting:
Text wrap: Use this to control how the text in the editor should be wrapped.
Enable optimization: This defines if the compiler should enable optimization during compilation. You can enable this option to save execution gas. It is useful to enable optimization for contracts ready to be deployed in production but could lead to some inconsistencies when debugging such a contract.
Solidity Editor
The Remix editor recompiles the code whenever the current file is changed or another file is selected. It also provides syntax highlighting mapped to solidity keywords.
Here’s the list of some important features:
It displays opened files as tabs.
Compilation Warning and Error are displayed in the gutter.
Remix automatically saves the current file every five seconds.
+/- on the top left corner can be used to alter the font size of the editor.
Terminal
Primary features available in the terminal:
It integrates a JavaScript interpreter and the web3 object. It enables the execution of the JavaScript script which interacts with the current context. (note that web3 is only available if the web provider or injected provider mode is selected).
It displays important actions made while interacting with the Remix IDE (i.e. sending a new transaction).
It displays transactions that are mined in the current context. You can choose to display all transactions or only transactions that refer to the contracts Remix knows (e.g transaction created from the Remix IDE).
It allows searching for the data and clearing the logs from the terminal.
It allows you to run scripts by inputting them at the bottom after the >.
Compiler (Solidity)
Clicking the Solidity icon in the Icon panel will take you to the Solidity Compiler.
By default, you need to click the compile button to trigger compilation(D. in the image below). You can check the auto compile checkbox in case you want the file to be compiled each time the file is saved or when another file is selected (E. in the image below).
Since the release of Solidity version 0.5.7, it is possible to compile Yul files. Please read the solidity documentation about Yul which contains some code examples.
You can use the language dropdown (B. in the image below) to switch the language. This dropdown list is only available for versions 0.5.7 and beyond.
The fork selection dropdown list (C. in the image below) allows you to compile code against a specific ethereum hard fork. The compiler default corresponds to the default hard fork used by a specific version.
Please go to “Compilation Details” (G. in the image below) in the settings of the Metadata section to see the harfork name used for the current compilation.
If the contract has a lot of dependencies, it can take a while to compile. So you can use auto compilation at your discretion for instantaneous compilation.
After each compilation, a list is updated with all newly compiled contracts. A compiled contract can then be selected with the Contract pulldown menu (F. in the image below).
Multiple contracts are compiled when one contract imports other contracts. You can select any of these contracts to check the information regarding that.
On clicking the “Compilation Details” button (G. in the image below), a modal opens displaying detailed information about the currently selected contract.
You can also publish your non-abstract contract to Swarm from the same tab.
Published data notably contains the ABI and the solidity source code.
After a contract is published, you can find its metadata information using the bzz URL located in the details modal dialogue SWARM LOCATION.
After each compilation, the static analysis tab builds a report, which is very valuable when addressing reported issues even if the compiler doesn’t complain. Any compilation error or warning is displayed below the contract section.
Deploy & Run
You can send transactions to the current environment using the Deploy & Run module.
To go to Deploy & Run module, click the ‘Run’ icon in the Icon panel.
In order to use this module, you need to have a contract compiled. So, if there is a contract name in the contract select box (in the image below it’s the pulldown that says Ballot), you can interact with this contract otherwise you need to select a new contract. To do that, you need to click the file in the editor panel to make it the active tab (in the image below, on the right side of the page in the main panel, the ballot.sol is the active contract). Once it’s active, go to the compiler module and compile it. You can then use the Deploy & Run module.
Run Setup
The following settings allow you to directly influence the transaction execution:
Environment:
JavaScript VM: All the transactions will be executed in a sandbox blockchain in the browser. This means nothing will persist after you reload the page. The JsVM is its own blockchain and on every reload it initiates a new blockchain without saving the old one.
Injected Provider: Remix will connect to an injected web3 provider. Metamask is an example of a provider that injects web3.
Web3 Provider: Remix will connect to a remote node. You will need to provide the URL to the selected provider: Geth, Parity or any other Ethereum client.
Account:
Account: It represents the list of accounts associated with the current environment and their associated balances. On the JsVM, you have a choice of 5 accounts. If you use Injected Web3 with MetaMask, you need to change the account in MetaMask.
Gas Limit:
This sets the maximum amount of gas that will be allowed for all the transactions created in Remix.
Value:
This sets the amount of ETH, WEI, GWEI, etc. that are sent to a contract or a payable function. The value is always reset to 0 after each transaction execution. (Note: payable functions have a red button).
Initiate Instance
In the above image, the select box is set to Ballot. This select box will contain the list of compiled contracts.
Deploy sends a transaction that deploys the selected contract. When the transaction is mined, the newly created instance gets added (this might take several seconds). Note: if the constructor has parameters, you need to specify them.
At Address is used to access a contract that has already been deployed. It assumes that the given address is an instance of the selected contract. Note: There’s no check at this point, so be cautious when using this feature, and be sure you trust the contract at that address.
Pending Instances
Validating a transaction might take several seconds. During this time, the GUI shows it in pending mode. When the transaction is mined, the number of pending transactions is updated and the transaction is added to the log (see terminal).
Using the ABI
Using Deploy or At Address is a classic use case of Remix. However, it is possible to interact with a contract by using its ABI. The ABI is a JSON array that describes its interface.
To interact with a contract using the ABI, create a new file in Remix with extension *.abi and copy the ABI content to it. Then, in the input next to At Address, put the Address of the contract you want to interact with. Click on At Address, and a new “connection” with the contract will popup below.
Using the Recorder
A Recorder is a tool used to save a bunch of transactions in a JSON file and rerun them later in either the same environment or in another.
Saving to the JSON file (called senario.json by default) allows one to easily check the transaction list, tweak input parameters, change linked library, etc.
There are many use cases for the Recorder such as
After coding and testing contracts in a constrained environment (like the JavaScript VM), you can change the environment and redeploy it to a more realistic environment like a test net with an injected web3 or to a Geth node. The generated senario.json file has the same settings that are used in the Javascript VM. This means that you won’t need to click the interface multiple times to get the state that you achieved originally, making the Recorder a tool that saves you from a lot of hassle.
You can also change the settings in the senario.json file to customize the playback.
Deploying a contract often requires more than creating one transaction and so the recorder will automate this deployment.
Working in a dev environment requires to set up the state in the first place.
senario.json
To create this file in the recorder, you first need to run some transactions. In the above image, it has a 0 next to Transactions Recorded. This signifies that it isn’t the right moment to save transactions because there aren’t any. The number increase with every transaction you make. Then when you are ready, click the floppy disk icon to create the senario.json file.
The JSON file below is an example of the senario.json file.
In it, 3 transactions are executed:
The first corresponds to the deployment of the lib testLib.
The second corresponds to the deployment of the contract test with the first parameter of the constructor set to 11. That contract depends on the library. The linkage is done using the property link references. In that case, we use the address of the previously created library: created{1512830014773}. The number is the ID (timestamp) of the transaction that led to the creation of the library.
The third record corresponds to the call to the function set of the contract test (the property is set to created{1512830015080}). Input parameters are 1 and 0xca35b7d915458ef540ade6068dfe2f44e8fa733c
All these transactions are created using the value of the accounts account{0}.
{
"accounts": {
"account{0}": "xdcca35b7d915458ef540ade6068dfe2f44e8fa733c"
},
"linkReferences": {
"testLib": "created{1512830014773}"
},
"transactions": [
{
"timestamp": 1512830014773,
"record": {
"value": "0",
"parameters": [],
"abi": "0xbc36789e7a1e281436464229828f817d6612f7b477d66591ff96a9e064bcc98a",
"contractName": "testLib",
"bytecode": "60606040523415600e57600080fd5b60968061001c6000396000f300606060405260043610603f5 76000357c0100000000000000000000000000000000000000000000000000000000900463ffffff ff1680636d4ce63c146044575b600080fd5b604a6060565b6040518082815260200191505060405 180910390f35b6000610d809050905600a165627a7a7230582022d123b15248b8176151f8d45c2d c132063bcc9bb8d5cd652aea7efae362c8050029",
"linkReferences": {},
"type": "constructor",
"from": "account{0}"
}
},
{
"timestamp": 1512830015080,
"record": {
"value": "100",
"parameters": [
11
],
"abi": "0xc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec",
"contractName": "test",
"bytecode": "60606040526040516020806102b1833981016040528080519060200190919050508060008190555 05061027a806100376000396000f300606060405260043610610062576000357c01000000000000 00000000000000000000000000000000000000000000900463ffffffff1680632f30c6f61461006 757806338cc48311461009e57806362738998146100f357806387cc10e11461011c575b600080fd 5b61009c600480803590602001909190803573ffffffffffffffffffffffffffffffffffffffff1 6906020019091905050610145565b005b34156100a957600080fd5b6100b1610191565b60405180 8273ffffffffffffffffffffffffffffffffffffffff1673fffffffffffffffffffffffffffffff fffffffff16815260200191505060405180910390f35b34156100fe57600080fd5b6101066101bb 565b6040518082815260200191505060405180910390f35b341561012757600080fd5b61012f610 1c4565b6040518082815260200191505060405180910390f35b8160008190555080600160006101 000a81548173ffffffffffffffffffffffffffffffffffffffff021916908373fffffffffffffff fffffffffffffffffffffffff1602179055505050565b6000600160009054906101000a900473ff ffffffffffffffffffffffffffffffffffffff16905090565b60008054905090565b600073__bro wser/ballot.sol:testLib____________636d4ce63c6000604051602001526040518163ffffffff167c0100000000 0000000000000000000000000000000000000000000000000281526004016020604051808303818 6803b151561022e57600080fd5b6102c65a03f4151561023f57600080fd5b505050604051805190 509050905600a165627a7a72305820e0b2510bb2890a0334bfe5613d96db3e72442e63b514cdeae e8fc2c6bbd19d3a0029",
"linkReferences": {
"browser/ballot.sol": {
"testLib": [
{
"length": 20,
"start": 511
}
]
}
},
"name": "",
"type": "constructor",
"from": "account{0}"
}
},
{
"timestamp": 1512830034180,
"record": {
"value": "1000000000000000000",
"parameters": [
1,
"xdcca35b7d915458ef540ade6068dfe2f44e8fa733c"
],
"to": "created{1512830015080}",
"abi": "0xc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec",
"name": "set",
"type": "function",
"from": "account{0}"
}
}
],
"abis": {
"0xbc36789e7a1e281436464229828f817d6612f7b477d66591ff96a9e064bcc98a": [
{
"constant": true,
"inputs": [],
"name": "get",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
}
],
"0xcc41589e7559804ea4a2080dad19d876a024ccb05117835447d72ce08c1d020ec": [
{
"constant": true,
"inputs": [],
"name": "getInt",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": true,
"inputs": [],
"name": "getFromLib",
"outputs": [
{
"name": "",
"type": "uint256"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": true,
"inputs": [],
"name": "getAddress",
"outputs": [
{
"name": "",
"type": "address"
}
],
"payable": false,
"stateMutability": "view",
"type": "function"
},
{
"constant": false,
"inputs": [
{
"name": "_t",
"type": "uint256"
},
{
"name": "_add",
"type": "address"
}
],
"name": "set",
"outputs": [],
"payable": true,
"stateMutability": "payable",
"type": "function"
},
{
"inputs": [
{
"name": "_r",
"type": "uint256"
}
],
"payable": true,
"stateMutability": "payable",
"type": "constructor"
}
]
}
}
Deployed contracts
This section in the Run tab contains a list of deployed contracts to interact with through the auto-generated UI of the deployed contract also called udapp.
Click the sideways caret to open it up.
You will see the functions in the contract. The functions buttons can have different color buttons.
Functions that are constant or pure functions in Solidity have blue buttons. Clicking one of these does not create a new transaction. So clicking will not cause state changes but will only return a value stored in the contract without costing you a gas fee.
Functions that change the state of the contract AND that do not accept Ether is called non-payable functions and have an orange button. Clicking on them will create a transaction and thus will cost gas.
Functions that have red buttons are payable functions in Solidity. Clicking one of these will create a new transaction which can accept a value. The value is put in the Value field which is under the Gas Limit field.
For more information see more about the Solidity modifier.
If a function requires input parameters you will have to input them.
Inputting parameters
Inputting parameters in the collapsed view
(Inputting all the parameters in a single input box)
Parameters are separated by commas.
The input box tells you the type of each parameter.
Numbers and addresses need not be wrapped in double-quotes.
Strings need to be wrapped.
In the example above the “delegate” function has 3 parameters.
Inputting parameters in the expanded view
Clicking the ‘down’ caret brings you to the Multi-param Manager, where you can input the parameters one at a time. Much less confusing!
In this view, even strings need not be wrapped.
Clicking the clipboard icon will encode the inputs and will copy them. Only a valid set of inputs can be encoded.
So in case you mistakenly input a unit in place of an address, clicking the clipboard will return you an error.
Passing in a tuple or a struct to a function
To pass a tuple in, you need to put in an array [].
Similarly, to pass in a struct as a parameter of a function, it needs to be put in as an array []. Also, note that the line pragma experimental ABIEncoderV2; needs to put in at the top of the solidity file.
Debugger
The Debugger module allows you to debug the transaction. You can use it to deploy transactions created from Remix and already mined transactions.
Debugging works only if the current environment provides the necessary features.
To access the debugger, you can click the ‘Debug’ button in the terminal when a successful or failed transaction appears there. Alternately, you can load the module from the plugin manager and then click the bug in the icon panel. Or you can run the debug command in the console to go to the debugger.
This section gives information about the last compilation. By default, a new analysis is run at each compilation.
The analysis tab gives detailed information about the contract code. These details can help you avoid code mistakes and prompt best practices for you.
Here is the list of analyzers:
Security:
Transaction Origin: Warns if tx.origin is used.
Check Effects: Avoid potential reentrancy bugs.
Inline Assembly: Use of Inline Assembly.
Block Timestamp: Semantics may be unclear.
Low-level Calls: Semantics may be unclear.
Block.blockhash Usage: Semantics may be unclear.
Gas & Economy:
Gas Costs: Warns if the gas requirements of the functions are too high.
This On Local Calls: Invocation of local functions via this.
Miscellaneous:
Constant Functions: Checks for potentially constant functions.
Similar Variable Names: Checks if variable names are too similar.
For Telegram Support Join: https://t.me/xinfintech
Useful link for XinFin Masternode:
Steps to Setup Masternode on XinFin MainNet
Get Started with XinPay Crypto Asset
XinFin Mobile Wallet
XinFin Web Wallet
Steps to resign master node
Step by step guide to issue your own token on XinFin network
Step by step guide to swap token on XinFin network
Guide to setup node with one click installer
Watch the video to Setup XinFin Masternode with One-Click installer
Follow XinFin on:
Twitter: @XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram: https://t.me/xinfintalk
December 09, 2019, 08:41:09 AM
November 18, 2019, 05:07:51 AM
I’m going to briefly remind the readers about XDPoS before diving into the problem slashing aims to solve. I will then explain the slashing mechanism with XDPoS proposed slashing followed by a discussion of other slashing mechanisms from Ethereum Casper.
XinFin XDPoS Consensus Background
At the heart of XinFin, XDPoS that enables it to be an EVM-compatible and scalable public blockchain. This means that every Ethereum smart contract can be run on XinFin XDPoS with almost instant transaction confirmation. XDPoS relies on the architecture of 108 masternodes.
In order to become a masternode candidate, a token-holder must deposit at least 10 million XDC to a smart contract. masternode candidate is shown on a decentralized governance application called XinFin Master-Node App.
Masternodes are selected to create blocks in a round-robin fashion. A maximum of 900 blocks are created within an epoch and there is a block created every two seconds. Masternodes are also responsible for verifying and signing blocks in order to finalize the blocks. And all the masternode on the network are KYC enable masternode.
To strengthen system security, XinFin XDPoS also proposes double validation and randomization techniques. In double validation, when a masternode creates a block, this block must be verified by another masternode. The verifier is randomly selected among the remaining set of masternodes.
Decentralize Network instability and performance problem
So, what is the problem here? Remember that XinFin XDPoS is a public blockchain that allows anyone to freely join and leave the network. Now let’s consider a situation where the network has some underperforming masternodes. By underperforming, I mean the masternode does not sign/verify any blocks during the entire epoch. Some reasons for this might be that the masternode does not have the correct XinFin XDPoS software or the masternode crashes due to the lack of e-maintenance and operation by the masternode owner.
Underperforming masternodes can dramatically decrease the performance of the whole network and cause network instability. In XDPoS's current implementation, when a masternode fails to create a block on his turn, the whole network has to wait for 10 seconds of time-out before the next masternode in the round-robin takes its turn to create the next block. This means the whole network wastes m*10 seconds (m is the number of turns the underperforming masternode is selected within an epoch to produce blocks).
To make the problem worse, if ¼ (or 27 masternodes) of the 108 masternodes are underperforming, the total wasted time is 27 * 6 * 10 = 2220 seconds! It’s longer than the duration of an epoch. That being said, if these 27 masternodes are not eliminated out of the network, the performance will be decreased by more than 50%! There is actually a worst-case in which more than ¼ of the masternodes are underperforming. In this case, no finality can be reached since there are not ¾ of the masternodes signing off blocks. This means all masternodes are just wasting resources but completing nothing.
Slashing mechanism
The objective of the slashing mechanism is not to blame the underperforming masternodes but to mitigate the aforementioned issue to keep the system stable and performing. The slashing mechanism is as follows:
If a masternode does not sign any block during an entire epoch, the masternode will be slashed from the masternode for the next 4 epochs.
If more than one masternode is underperforming, the masternodes list for next epoch are chosen as follows:
If a masternode was considered as underperforming within 4 previous epochs, it is considered as ‘kicked-out’ and does not have the right to create blocks. Therefore, the number of masternodes responsible for creating blocks in this epoch might be less than 108. However, the active masternodes will not have to wait 10 seconds for underperforming masternodes’ blocks.
Once kicked out of the masternode list, the underperforming masternode can still verify and sign off blocks. This mechanism is used for the underperforming masternode to notify others about its liveness. However, the underperforming masternode does not receive rewards for verifying and signing off blocks after being slashed out.
This slashing mechanism has two properties:
Accountability: an underperforming masternode is always detected if it is silent within an entire epoch. XDPoS consensus has a smart contract called block signer. Block signer stores all block signatures produced by masternodes. The laziness of a masternode is easily accounted for by reading the number of signatures it has sent to the block signer smart contract during the epoch.
Liveness: If a previously slashed masternode becomes live again after 4 epochs of slashing, This property is guaranteed by allowing the demoted masternode to verify and sign off blocks, which is a signal demonstrating its liveness, as previously described.
Discussion
Slashing has been considered in Ethereum Casper FFG designed by Vitalik Buterin to move Ethereum consensus from Proof-of-Work-based to Proof-of-Stake-based. The objective of Casper slashing is to prevent Ethereum from the nothing-at-stake problem — in which Casper validators would choose to validate and finalize all forks. Attackers can take advantage of the nothing-at-stake problem to double spend. Casper slashing states that if two forks can be both finalized (a fork in Casper is considered as finalized if ? Casper validators validate the fork), there will be at least? Casper validators trying to validate both forks. These validators then lose their entire deposit for violating the consensus rule stating that one validator has to attest to only one fork.
Casper slashing tries to prohibit intentional bad behavior from malicious validators that violate the consensus rule. This is why slashing is very strong as it is used to discourage validators from committing any malicious behavior. TomoChain’s slashing is quite different in its philosophy. Underperforming masternodes do not intend to attack the network and the reasons for not verifying any block during an entire epoch might be, for example, an electrical problem or a server crashing. Burning the staked tokens of underperforming masternodes creates fear among participants, thus discouraging people from participating in the system. There is no reason to take all deposited tokens from an underperforming masternode just because its electricity source turns off for 30 minutes.
Useful link for XinFin Masternode
Steps to Setup Masternode on XinFin MainNet
XinFin Mobile Wallet
XinFin Web Wallet
Steps to resign master node
Step by step guide to issue your own token on XinFin network
Step by step guide to swap token on XinFin network
Guide to setup node with one click installer
Watch the video to Setup XinFin Masternode with One-Click installer
Follow XinFin on:
Twitter: ( @ ) XinFin_Official
LinkedIn: https://www.linkedin.com/company/xinfin/
Telegram: https://t.me/xinfintalk
November 11, 2019, 01:51:09 PM
Snips is one of the BEST Admin's in all of Telegram!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
LMAO!
You are a child. Now go eat your hot pockets and go to bed.
Snips is one of the BEST Admin's in all of Telegram!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
That's why this shitcoin is selling at 10 satoshi's...LMAO!!!
November 11, 2019, 01:33:27 PM
Snips is one of the BEST Admin's in all of Telegram!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
It is crystal clear what your intentions are. For those with any doubts about XinFin's Stellar Reputation and Development, consider this.
1 - R3 Corda Technology Partner
2 - R3's Project Voltron's Public Relay Bridge Developer - almost ready to go live
3 - Worlds First Hybrid Public/Private Blockchain for Regulated Global, Trade, Finance and Payments
3 - ADGM Sandbox Member
4 - Partners with Ramco, AiX, Trace Financial etc....
5 - Live MainNet with live MasterNodes
6 - TradeFinex (KYC & AML Compliant) about to go live
7 - AiX about to go live in December
https://xinfin.org/xdc-utility.php
https://www.xdcechat.com/Partnerships
Also, my twitter account, same name, is a wealth of indepth XinFin information. As always DYOR!
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