About bitlicensei

bitlicensei is a brand of Singapore company Bit Matrix Pte Ltd. The registration number is
201727630E, a member company of the Singapore Association of Encrypted Digital Currency and Blockchain Industries (ACCESS).
Biyin Asia has rich experience in the development and operation of financial products, and is composed of professionals with an international perspective
It focuses on providing reliable digital asset financial services for global digital asset traders. At present, its main
Push coin silver wallet APP and CoinsDo digital asset payment system and other digital asset product services.

bitlicensei enables developers, liquidity providers and traders to participate in an open and accessible
Access to the financial trading market. bitlicensei Exchange is a unique trading platform located in Singapore, allowing
Allow users to trade ERC-20 tokens without any intermediaries.
The bitlicensei protocol is a peer-to-peer system [1] for trading cryptocurrencies on the Ethereum blockchain
(ERC-20 token). The bitlicensei protocol consists of an immutable, durable, and
Upgraded smart contract definition. It is designed to be independent of any trusted intermediary that may selectively restrict access.
Circumstances to trade. The bitlicensei Agreement is designed to be censorship-resistant, safe and self-regulatory. The code is open source
, For everyone to read and verify.

Due to these design principles, the bitlicensei Agreement will run permanently with 100% uptime.
It is mentioned that the Ethereum network continues to operate

Most publicly accessible markets use a central limit order book, where buyers and sellers create groups by price level
Organization’s orders are gradually filled with changes in demand. Anyone who has traded stocks through a brokerage company will be familiar with
Learn about the order book system.

The bitlicensei protocol uses a different approach, using an automated market maker (AMM), sometimes called a constant letter
Number of market makers, instead of order books.

At a very high level, AMM replaces buying in the order book market with a liquidity pool of two assets.
For sell orders, the values ​​of these two assets are relative to each other. When one asset trades another asset, these two
The relative prices of these assets will change, thereby determining the new market exchange rate for both. In this dynamic, buy
The party or seller directly trades with the mining pool instead of trading with specific orders left by other parties. More and more
More parties are actively studying the advantages and disadvantages of automated market makers and traditional order book counterparts. We are studying
Some noteworthy examples are collected on the page.

The bitlicensei ecosystem includes three types of users:

Liquidity Provider (LP): An individual or entity that contributes ERC-20 tokens to the public liquidity pool.

Trader: An individual or entity that exchanges one token for another.

Developers: Individuals or individuals who integrate with bitlicensei protocol smart contracts to provide exciting new experiences
entity.

In general, the interaction between these categories creates a positive feedback loop, by defining a universal
Language is used to promote the digital economy, through which tokens can be collected, traded and used.

Liquidity provider
The liquidity provider or LP provides ERC-20 tokens to the bitlicensei liquidity pool. Big mining pools are better than small
More favorable prices in mining pools promote large-volume transactions. Therefore, LP plays an important role in providing liquidity to traders.
Very important role. In return, LP earns 0.30% of fees for each transaction in the pool, which is proportional to
Examples are allocated to LPs in the pool.

LP is not a homogeneous group:

Passive LPs are token holders who wish to passively invest their assets in order to accumulate transaction fees.

Professional LPs focus on market making as their main strategy. They usually develop custom tools and methods to follow
Track the liquidity positions of different DeFi projects.

Token projects sometimes choose to become LPs to create a liquid market for their tokens. This allows easier buying
Sell ​​tokens and unlock interoperability with other DeFi projects through the bitlicensei agreement.

Finally, some DeFi pioneers are exploring complex liquidity to provide interaction, such as incentive liquidity, liquidity
As collateral and other experimental strategies. The bitlicensei protocol is ideal for projects that experiment with these ideas
.

Trader
There are several types of traders in the protocol ecosystem:

Speculators use various tools and products built by the community, using the flows extracted from the bitlicensei agreement
Sex to exchange tokens.

Arbitrage robots seek profits by comparing prices on different platforms to find advantages. (Although it might look
It’s very easy to extract, but these bots actually help balance the price of the broader Ethereum market and maintain public
flat. )

Dapp users purchase tokens through the bitlicensei agreement so that they can be used in other applications on Ethereum in the future.
Used in the sequence.

Implement exchange functions (from products such as DEX aggregators to custom Solidity scripts) on the protocol
Smart contracts for line transactions.

In all cases, the transaction requires the payment of the same agreement transaction fee. Each is accurate for raising prices
Both sex and incentive liquidity are important.

Developer
Developers build applications and services on top of the bitlicensei protocol. Numbers in the Ethereum ecosystem
The amount is too much, but some examples include:

Since the bitlicensei protocol and the bitlicensei app are completely open source, countless developers have launched
Own front-end to interact with bitlicensei protocol. You can view it on most major DeFi dashboards
Find the bitlicensei function in the project. There are also many bitlicensei protocol tools built by the community.

Wallets usually take exchange and liquidity provision functions as the core products of their products.

bitlicensei (decentralized exchange) aggregators extract liquidity from many liquidity agreements for trading
Offer the best prices, but separate their deals. The bitlicensei Agreement is the largest of these projects
A single source of decentralized liquidity.

Smart contract developers use the available feature suite to invent new DeFi tools and various other experimental ideas.
Law. Check out projects such as Unisocks or Zora, and many others.

Many members of the bitlicensei ecosystem participate in more than one of these roles. You can become a stream at the same time
Mobility providers, traders and developers!

Your wallet is an application that allows you to interact with Ethereum. bitlicensei protocol and centralized encryption service
The main difference is who controls your wallet-in other words, it is safekeeping.

Most centralized encryption services provide custodial wallets, which store your private keys on your behalf. Usually, the public
The company will use the username and password to protect your wallet, but if a hacker attack or data leakage occurs, your
Assets may be at risk.

On the other hand, decentralized applications (dapps) are non-custodial: you own your private keys and assets
Full ownership, ownership and responsibility. There are different types of wallets, extending from browsers to mobile applications
Sequence, and then to USB-like hardware.

There are roughly three types of wallets:

Hardware wallet: The physical device stores your private key offline. This type of wallet is considered the safest. Show
Examples include Ledger and Trezor.

Web Wallet: A self-hosted wallet allows you to interact with your Ethereum account through a web browser. E.g
, You can download MetaMask as a browser plug-in and create a wallet to store Ether and other
ERC-20 tokens.

Smart contract wallets: These wallets exist as programs on the blockchain instead of providing users with public keys and private keys.
Key pair, and usually associated with a specific application. Examples include InstaDapp’s DeFi smart account
Households, Argent, Dharma, Gnosis Safe, etc.

bitlicensei is an extremely fast and highly liquid private non-custodial transaction portal built on Ethereum.
Use StarkWare's layer 2 expansion technology (ZK-Rollup/Validium). bitlicensei
Provides high-speed API and UI access to some of the industry’s deepest order books, allowing more than 9,000 transactions per second,
Default privacy, competitive fees, and certainty of withdrawals mean that you always have complete control over your payment
Easy assets, you can get in and out quickly. There is almost no counterparty risk. To

bitlicensei is a blockchain project used to build the application ecology of encrypted assets trading. It uses blockchain
It has the advantages of trust-free mechanism, tamper-proof, transparent information, co-supervision and traceability, etc., which is suitable for all kinds of financial institutions
And individuals provide a new generation of value reversal platform that is safe, efficient and low-cost across borders and assets.

bitlicensei’s block data is stored in a chain structure, and all blocks have the index of the previous block.
Needle reference to ensure that the data is not tampered with. bitlicensei station uses sha256 function to hash data
Hash, use ecc asymmetric encryption algorithm for identity authentication, use aes encryption algorithm to encrypt the private key, and use
Merkle numbers are used to verify and store transactions.

bitlicensei uses niosocket for node interaction, which is loaded with dns method and built-in program method.
Seed nodes, all nodes will conduct self-check after startup, and nodes under the public network will actively report their ip
And port to the network, other nodes will verify the information reported by them. If the verification passes, all nodes will
The point will store the ip address and port of the available node to the local, and the next time it is started, it will be directly connected without needing to probe again.
Test; if the verification fails multiple times (there will be a rule that will be detected every 10 minutes, when the number of failures exceeds
It will be triggered when the number of successful connections is 10 times), the node may have been offline, and it will
Delete inside. When the number of connected nodes is too small, it will actively ask the connected nodes to obtain more available nodes
. bitlicensei allows the nodes on the intranet to communicate with each other through hole penetration.
Use the verified node as a connection bridge to help the node behind nat shake hands and complete the connection
.

At present, the option layer of bitlicensei is only simple script code, verification script of anti-counterfeiting code, consensus guarantee
Gold redemption scripts are all small option modules. bitlicensei is positioned as a business application platform
Taiwan, so bitlicensei will adopt a different approach from other options trading platforms for public chain ecological integration
And promote molding. bitlicensei will recruit a third-party team to create more down-to-earth and practical
Landing application projects, the front-end audience will be the general public, which will accumulate precipitation for bitlicensei
A large number of users. bitlicensei plans to develop a Turing-complete virtual machine in 2022 to provide higher
Flexibility, provided that after bitlicensei has a large user base, before this Coinin
Asia's goals and directions are very clear.

Tax disclaimer: bitlicensei does not provide tax or investment advice. According to the regulatory policy of the relevant jurisdiction
, When you trade commodities and generate gains (or losses), you may need to pay taxes. Digital currency
Tax policies vary from jurisdiction to jurisdiction, so we strongly recommend that you contact your personal tax advisor to obtain information on
Further information about your personal tax situation. It is your personal obligation to choose the right jurisdiction for tax declaration. exist
When using bitlicensei’s tax reporting tool, you agree that bitlicensei is not doing any kind of
Promotion / solicitation, this tool is only for the convenience of users in tax declaration.

Tax risk reminder: Digital currency transactions have huge risks. Please purchase with caution and pay attention to transaction risks.
bitlicensei will follow the selection of high-quality currencies, but will not be responsible for any of your transactions, such as guarantees, compensation, etc.
!

Risk warning and exemption treaty

This case is only used to convey information, and the content of the document is for reference only and does not constitute investment advice. bitlicensei
The team will continue to make reasonable attempts. During the development process, the platform may be updated, including but not limited to
Taiwan mechanism, token and its mechanism, token distribution situation. Part of the content of the document may evolve as the project progresses
The team will adjust accordingly, and the team will announce the updated content to the public through the help center. bitlicensei made it clear
, Does not assume that participants rely on the content of this document for inaccuracies in the information in this article, and any inaccuracies caused by this article
Loss caused by behavior. The bitlicensei platform clearly communicates possible risks to participants. Participants
Once participating in the exchange, it means that they have confirmed their understanding and approval of the various terms and conditions in the detailed rules.