I have no clue what the 2of2 or 2of5 means though. But what I do know s it means XMR can be added to decentralized exchanges when it's complete, correct?
'N of M' means N signers are needed out of a set of M possible signers.
This is used for all sorts of escrow and wallet schemes, such as 2FA where you don't give up control of your coins (2 of 3 where you hold 2 of the coins, the 2FA service holds 1).
Yes, some form of this is what some decentralized exchanges require, though depending on the specifics they may also need other capabilities.
Thanks smooth, ok I wasn't sure what those numbers were referring to. This is the issue, what was it bitfinex?, that was holding 2 of three keys and the second was a rubber stamp and thats why they got hacked right? So is that why Surae is going to be adding 5 keys?
BTW Kraken update email today. I just can't trade there the margin interface is too clunky and I can't put a order in fast enough. Impossible to snipe a a long after a dump there with the frontend.
Please note the following changes to our bitcoin (XBT) and tether (USDT) withdrawal fees, and the Gnosis token (GNO) address fee.
Bitcoin (XBT) withdrawal fee
Now 0.0025 XBT
Why the change? Kraken always pays a miner fee that is sufficient to ensure transactions are processed quickly. However, the average miner fee required to prioritize and confirm Bitcoin transactions has been increasing for some time without a corresponding increase in the fee we charge to clients. The update brings the withdrawal fee more in line with our cost for the miner fees. Note that the fee is static and represents our average cost per transaction, so the fee may not match the actual miner fee we pay in every case. Sometimes the fee we pay will be higher and sometimes lower than the fee you pay. Soon we will be moving to a more dynamic fee system that will match the fees more closely in each case - see below.
Tether (USDT) withdrawal fee
Now 5 USDT
Why the change? Since USDT is issued and transferred on the Bitcoin blockchain, the fee required to transfer USDT quickly has also gone up.
Gnosis token (GNO) address fee
Now 0.004 GNO
Why the change? The fee in terms of GNO has gone down, so we are passing the decrease along to clients.
Moving to more dynamic fees soon
In the near future network fees for bitcoin and tether (and possibly other tokens if needed) will be updated dynamically to better match the fee to our costs. The fee may change each time you withdraw, so if you want to know the withdrawal fee you should check it each time you withdraw. You can find the current withdrawal fee for any asset by navigating to Funding > Withdrawal > Asset in your Kraken account.
Thank you for choosing Kraken, the trusted and secure digital assets exchange.
The Kraken Team
Is there any API Gui's for Kraken or polo that is freeware that anyone can recommend? I only hold about 10 xmr but want to continue to trade it to grow it. I started with dust again and just add my sig campaign every week.
BTW Polo support never answered my ticket on the longs they screwed me out of but I have been assured from other sources that it has been kicked up to the correct tier.