What is Block Collider (EMB) | What is Overline Network token | What is EMB token
In this article, we’ll discuss information about the Block Collider project and EMB token
What is Overline?
Overline is a protocol designed to foster innovation by connecting blockchain technologies with liquidity and interoperability. Like Satoshi Nakamoto’s Bitcoin, Overline is a cryptocurrency that uses mining hash power from machines around the world to build a “blockchain of blockchains” or multichain.
Why does Overline exist?
Blockchain technology has the potential to transform and restructure our existing economy. However, due to the limitations of incumbent technologies, there is a lack of interoperability between blockchains which hinders growth and innovation.
📘
WEF: On Blockchain Interoperability
Disparate blockchain networks are prevented from reusing, triggering, or executing transactions on other blockchains. Networks seeking to collaborate or interact are forced to rely on middlemen and third party platforms in order to bridge the gap. These third parties are a compromise to the design philosophy of decentralized technologies and introduce significant vulnerabilities to the entire industry as more products are built on inherently flawed protocols.
By connecting disparate Blockchain networks together, and baking connectivity into the technology itself, Overline helps organizations and individuals leverage the unique benefits of siloed Blockchain networks from one single platform.
What are the blockchains Overline connects?
Overline currently incorporates the Bitcoin, Ethereum, Waves, Neo, and Lisk blockchain protocols into its multichain.
Can other blockchains be added in the future?
Yes. This process will be entirely open source and community driven, along with the process of removing blockchains, but the initial cohort of additional protocols will be decided upon by team members of Overline.
What is Proof-of-Distance (PoD)?
The Proof-of-Distance algorithm requires the Overline miners to produce a valid cryptographic proof which demonstrates that they have observed the most recent blocks issued by each network connected to Overline. This proof is included within each block on the Overline multichain, creating a unified cryptographic state of the ecosystem with each new block issued.
How does a Overline miner work?
Being an Overline miner or running an Overline node is defined as performing the task of continuously observing the states of all connected blockchain networks within the multichain, monitoring for occurrences relevant to the trades and transactions. As a result of miners verifying the current state of all child chains, miners also verify and add new cross-chain transactions by processing them locally.
Miners must expend computational resources to perform this activity, racing to produce cryptographic fingerprints which prove that they have in fact observed the latest blocks issued by connected chains. Those who are able to do so successfully earn Overline (OL) as a reward for their contributions to the network.
What is the Overline Interchange?
Secured by thousands of miners worldwide, the Overline interchange is a 24/7 unstoppable marketplace with no accounts, no fees, and unlimited access to Gold, USDT, and cryptocurrencies. Built on using Overline, the interchange is available to anyone with an internet connection worldwide.
What is the Overline interchange?
The Overline interchange application (“the interchange”) is a user interface that accesses Overline’s robust peer-to-peer digital asset trading network. The interchange is the first truly decentralized marketplace which does not broker trades, hold assets, or require trust, but instead places the power of fair trade in the hands of its users.
How does the interchange work?
The interchange interacts with Overline by allowing users to retrieve and place orders that exist on the multichain and presenting them in a human-readable format.
An important distinction is that there are no components of the interface that risk centralization. Order books, wallet management, network fees, and every aspect of the interchange is completely on-chain and decentralized.
What is a maker and taker?
Taker. If a user places an order on an exchange that is immediately filled, either partially or in its entirety, they are considered a “taker.” A user who does this is “taking” the price they want, right now, generally through buying or selling orders sitting on the books.
Maker. When am exchange user places an order that doesn’t fill immediately, they are a “maker.” By placing orders on the books, the user helps to “make the market” and as such is considered a “market maker”.
What are the fees to trade on the interchange?
While there are no fees taken by the Overline team, there are Overline (OL) fees associated with each transaction.
What are OL fees?
Overline (OL) fees are miner fees, similar to gas on Ethereum. They are provided to the miners who are responsible for adding the execution of trades made on the interchange to the Overline multichain via their computational resources.
NOTE: Overline does NOT take any fees from trades on the network. These Overline fees are strictly for miners.
Who pays the Overline fees?
Traders pay the Overline fees. Any time a trade occurs, a minimal amount of Overline is required from both maker and taker to be sent to the Overline miners as a reward to facilitate that trade.
How much Overline is needed to perform a trade?
Each trade’s Overline fee will be minimal, but will vary depending on the length of the trade (meaning the longer the deposit and settlement period, the more expensive the transaction). This is because miners completing these transactions have to keep track of them longer in order to appropriately mark them for the child chains, extending the duration of computational effort and therefore the reward necessary.
What is Collateral Based Trading?
Trading on the interchange is facilitated by collateralizing Overline, a process which involved locking up a certain amount of Overline as collateral to ensure the trade goes through.
What are the minimum trade orders on the interchange?
There are none. Provided you find someone to take the trade or place the order, and send along the necessary Overline fees, there are no minimums.
What are the minimum withdrawal / deposit amounts for all tokens?
There are none. There is no centralized storage, there are no withdrawal limits. Your wallets are in your control the entire time.
Does the interchange support partial order fulfillment?
Yes. Some orders can be taken in smaller increments, if designated by the maker.
Why do the minimum incremental percentages differ order to order?
When an order is placed, the maker sets the partial order increments. This can be set as low as 10% and as high as 100%
What happens when the minimum order % is met?
If you set a minimum order % of less than 100%, then a partial order can be filled. This would automatically take the corresponding partial ratio of your order and your OL collateral and turn it into a complete order. The rest of your order will remain on the order book with the new minimum order amount the same value as the original order, but applied to the remaining balance.
EMB token
Total Supply: 300,000,000
How and Where to Buy EMB token ?
EMB has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy …
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase EMB from the exchange.
The top exchange for trading in EMB token is currently https://ftx.com/trade/EMB/USD
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once EMB gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information EMB
☞ Website ☞ Website 2 ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you
⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
I hope this post will help you. Don’t forget to leave a like, comment and sharing it with others. Thank you!
#blockchain #bitcoin #emb #block collider
