18 skills found
statickidz / Wallet TrackerTrack a list of crypto wallets to get notified when a new transaction is being processed.
Rastaman4e / 1NICEHASH PLATFORM TERMS OF USE AND NICEHASH MINING TERMS OF SERVICE PLEASE READ THESE NICEHASH PLATFORM TERMS OF USE AND NICEHASH MINING TERMS OF SERVICE (“Terms”) CAREFULLY BEFORE USING THE THE PLATFORM OR SERVICES DESCRIBED HEREIN. BY SELECTING “I AGREE”, ACCESSING THE PLATFORM, USING NICEHASH MINING SERVICES OR DOWNLOADING OR USING NICEHASH MINING SOFTWARE, YOU ARE ACKNOWLEDGING THAT YOU HAVE READ THESE TERMS, AS AMENDED FROM TIME TO TIME, AND YOU ARE AGREEING TO BE BOUND BY THEM. IF YOU DO NOT AGREE TO THESE TERMS, OR ANY SUBSEQUENT AMENDMENTS, CHANGES OR UPDATES, DO NOT ACCESS THE PLATFORM, USE NICEHASH MINING SERVICES OR USE THE NICEHASH MINING SOFTWARE. GENERAL These Terms apply to users of the NiceHash Platform (“Platform” and NiceHash Mining Services (“Services”) which are provided to you by NICEHASH Ltd, company organized and existing under the laws of the British Virgin Islands, with registered address at Intershore Chambers, Road Town, Tortola, British Virgin Islands, registration number: 2048669, hereinafter referred to as “NiceHash, as well as “we” or “us”. ELIGIBILITY By using the NiceHash platform and NiceHash Mining Services, you represent and warrant that you: are at least Minimum Age and have capacity to form a binding contract; have not previously been suspended or removed from the NiceHash Platform; have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; are not not furthering, performing, undertaking, engaging in, aiding, or abetting any unlawful activity through your relationship with us, through your use of NiceHash Platform or use of NiceHash Mining Services; will not use NiceHash Platform or NiceHash Mining Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms. We reserve the right to terminate your access to the NiceHash Platform and Mining Services for any reason and in our sole and absolute discretion. Use of NiceHash Platform and Mining Services is void where prohibited by applicable law. Depending on your country of residence or incorporation or registered office, you may not be able to use all the functions of the NiceHash Platform or services provided therein. It is your responsibility to follow the rules and laws in your country of residence and/or country from which you access the NiceHash Platform. DEFINITIONS NiceHash Platform means a website located on the following web address: www.nicehash.com. NiceHash Mining Services mean all services provided by NiceHash, namely the provision of the NiceHash Platform, NiceHash Hashing power marketplace, NiceHash API, NiceHash OS, NiceHash Mining Software including licence for NiceHash Miner, NiceHash Private Endpoint, NiceHash Account, NiceHash mobile apps, and all other software products, applications and services associated with these products, except for the provision of NiceHash Exchange Services. NiceHash Exchange Service means a service which allows trading of digital assets in the form of digital tokens or cryptographic currency for our users by offering them a trading venue, helping them find a trading counterparty and providing the means for transaction execution. NiceHash Exchange Services are provided by NICEX Ltd and accessible at the NiceHash Platform under NiceHash Exchange Terms of Service. Hashing power marketplace means an infrastructure provided by the NiceHash which enables the Hashing power providers to point their rigs towards NiceHash stratum servers where Hashing power provided by different Hashing power providers is gathered and sold as generic Hashing power to the Hashing power buyers. Hashing power buyer means a legal entity or individual who buys the gathered and generic hashing power on the Hashing power marketplace from undefined Hashing power providers. Hashing power provider means a legal entity or individual who sells his hashing power on the Hashing power marketplace to undefined Hashing power buyers. NiceHash Mining Software means NiceHash Miner and any other software available via the NiceHash Platform. NiceHash Miner means a comprehensive software with graphical user interface and web interface, owned by NiceHash. NiceHash Miner is a process manager software which enables the Hashing power providers to point their rigs towards NiceHash stratum servers and sell their hashing power to the Hashing power buyers. NiceHash Miner also means any and all of its code, compilations, updates, upgrades, modifications, error corrections, patches and bug fixes and similar. NiceHash Miner does not mean third party software compatible with NiceHash Miner (Third Party Plugins and Miners). NiceHash QuickMiner means a software accessible at https://www.nicehash.com/quick-miner which enables Hashing power providers to point their PCs or rigs towards NiceHash stratum servers and sell their hashing power to the Hashing power buyers. NiceHash QuickMiner is intended as a tryout tool. Hashing power rig means all hardware which produces hashing power that represents computation power which is required to calculate the hash function of different type of cryptocurrency. Secondary account is an account managed by third party from which the Account holder deposits funds to his NiceHash Wallet or/and to which the Account holder withdraws funds from his NiceHash Wallet. Stratum is a lightweight mining protocol: https://slushpool.com/help/manual/stratum-protocol. NiceHash Account means an online account available on the NiceHash Platform and created by completing the registration procedure on the NiceHash Platform. Account holder means an individual or legal entity who completes the registration procedure and successfully creates the NiceHash Account. Minimum Age means 18 years old or older, if in order for NiceHash to lawfully provide the Services to you without parental consent (including using your personal data). NiceHash Wallet means a wallet created automatically for the Account holder and provided by the NiceHash Wallet provider. NiceHash does not hold funds on behalf of the Account holder but only transfers Account holder’s requests regarding the NiceHash Wallet transaction to the NiceHash Wallet provider who executes the requested transactions. In this respect NiceHash only processes and performs administrative services related to the payments regarding the NiceHash Mining Services and NiceHash Exchange Services, if applicable. NiceHash Wallet provider is a third party which on the behalf of the Account holder provides and manages the NiceHash Wallet, holds, stores and transfers funds and hosts NiceHash Wallet. For more information about the NiceHash Wallet provider, see the following website: https://www.bitgo.com/. Blockchain network is a distributed database that is used to maintain a continuously growing list of records, called blocks. Force Majeure Event means any governmental or relevant regulatory regulations, acts of God, war, riot, civil commotion, fire, flood, or any disaster or an industrial dispute of workers unrelated to you or NiceHash. Any act, event, omission, happening or non-happening will only be considered Force Majeure if it is not attributable to the wilful act, neglect or failure to take reasonable precautions of the affected party, its agents, employees, consultants, contractors and sub-contractors. SALE AND PURCHASE OF HASHING POWER Hashing power providers agree to sell and NiceHash agrees to proceed Hashing power buyers’ payments for the provided hashing power on the Hashing power marketplace, on the Terms set forth herein. According to the applicable principle get-paid-per-valid-share (pay as you go principle) Hashing power providers will be paid only for validated and accepted hashing power to their NiceHash Wallet or other wallet, as indicated in Account holder’s profile settings or in stratum connection username. In some cases, no Hashing power is sent to Hashing power buyers or is accepted by NiceHash Services, even if Hashing power is generated on the Hashing power rigs. These cases include usage of slower hardware as well as software, hardware or network errors. In these cases, Hashing power providers are not paid for such Hashing power. Hashing power buyers agree to purchase and NiceHash agrees to process the order and forward the purchased hashing power on the Hashing power marketplace, on the Terms set forth herein. According to the applicable principle pay-per-valid-share (pay as you go principle) Hashing power buyers will pay from their NiceHash Wallet only for the hashing power that was validated by our engine. When connection to the mining pool which is selected on the Hashing power order is lost or when an order is cancelled during its lifetime, Hashing power buyer pays for additional 10 seconds worth of hashing power. Hashing power order is charged for extra hashing power when mining pool which is selected on the Hashing power order, generates rapid mining work changes and/or rapid mining job switching. All payments including any fees will be processed in crypto currency and NiceHash does not provide an option to sale and purchase of the hashing power in fiat currency. RISK DISCLOSURE If you choose to use NiceHash Platform, Services and NiceHash Wallet, it is important that you remain aware of the risks involved, that you have adequate technical resources and knowledge to bear such risks and that you monitor your transactions carefully. General risk You understand that NiceHash Platform and Services, blockchain technology, Bitcoin, all other cryptocurrencies and cryptotokens, proof of work concept and other associated and related technologies are new and untested and outside of NiceHash’s control. You acknowledge that there are major risks associated with these technologies. In addition to the risks disclosed below, there are risks that NiceHash cannot foresee and it is unreasonable to believe that such risk could have been foreseeable. The performance of NiceHash’s obligation under these Terms will terminate if market or technology circumstances change to such an extent that (i) these Terms clearly no longer comply with NiceHash’s expectations, (ii) it would be unjust to enforce NiceHash’s obligations in the general opinion or (iii) NiceHash’s obligation becomes impossible. NiceHash Account abuse You acknowledge that there is risk associated with the NiceHash Account abuse and that you have been fully informed and warned about it. The funds stored in the NiceHash Wallet may be disposed by third party in case the third party obtains the Account holder’s login credentials. The Account holder shall protect his login credentials and his electronic devices where the login credentials are stored against unauthorized access. Regulatory risks You acknowledge that there is risk associated with future legislation which may restrict, limit or prohibit certain aspects of blockchain technology which may also result in restriction, limitation or prohibition of NiceHash Services and that you have been fully informed and warned about it. Risk of hacking You acknowledge that there is risk associated with hacking NiceHash Services and NiceHash Wallet and that you have been fully informed and warned about it. Hacker or other groups or organizations may attempt to interfere with NiceHash Services or NiceHash Wallet in any way, including without limitation denial of services attacks, Sybil attacks, spoofing, smurfing, malware attacks, mining attacks or consensus-based attacks. Cryptocurrency risk You acknowledge that there is risk associated with the cryptocurrencies which are used as payment method and that you have been fully informed and warned about it. Cryptocurrencies are prone to, but not limited to, value volatility, transaction costs and times uncertainty, lack of liquidity, availability, regulatory restrictions, policy changes and security risks. NiceHash Wallet risk You acknowledge that there is risk associated with funds held on the NiceHash Wallet and that you have been fully informed and warned about it. You acknowledge that NiceHash Wallet is provided by NiceHash Wallet provider and not NiceHash. You acknowledge and agree that NiceHash shall not be responsible for any NiceHash Wallet provider’s services, including their accuracy, completeness, timeliness, validity, copyright compliance, legality, decency, quality or any other aspect thereof. NiceHash does not assume and shall not have any liability or responsibility to you or any other person or entity for any Hash Wallet provider’s services. Hash Wallet provider’s services and links thereto are provided solely as a convenience to you and you access and use them entirely at your own risk and subject to NiceHash Wallet provider’s terms and conditions. Since the NiceHash Wallet is a cryptocurrency wallet all funds held on it are entirely uninsured in contrast to the funds held on the bank account or other financial institutions which are insured. Connection risk You acknowledge that there are risks associated with usage of NiceHash Services which are provided through the internet including, but not limited to, the failure of hardware, software, configuration and internet connections and that you have been fully informed and warned about it. You acknowledge that NiceHash will not be responsible for any configuration, connection or communication failures, disruptions, errors, distortions or delays you may experience when using NiceHash Services, however caused. Hashing power provision risk You acknowledge that there are risks associated with the provisions of the hashing power which is provided by the Hashing power providers through the Hashing power marketplace and that you have been fully informed and warned about it. You acknowledge that NiceHash does not provide the hashing power but only provides the Hashing power marketplace as a service. Hashing power providers’ Hashing power rigs are new and untested and outside of NiceHash’s control. There is a major risk that the Hashing power rigs (i) will stop providing hashing power, (ii) will provide hashing power in an unstable way, (iii) will be wrongly configured or (iv) provide insufficient speed of the hashing power. Hashing power rigs as hardware could be subject of damage, errors, electricity outage, misconfiguration, connection or communication failures and other malfunctions. NiceHash will not be responsible for operation of Hashing power rigs and its provision of hashing power. By submitting a Hashing power order you agree to Hashing power no-refund policy – all shares forwarded to mining pool, selected on the Hashing power order are final and non-refundable. Hashing power profitability risk You acknowledge that there is risk associated with the profitability of the hashing power provision and that you have been fully informed and warned about it. You acknowledge that all Hashing power rig’s earning estimates and profitability calculations on NiceHash Platform are only for informational purposes and were made based on the Hashing power rigs set up in the test environments. NiceHash does not warrant that your Hashing power rigs would achieve the same profitability or earnings as calculated on NiceHash Platform. There is risk that your Hashing power rig would not produce desired hashing power quantity and quality and that your produced hashing power would differentiate from the hashing power produced by our Hashing power rigs set up in the test environments. There is risk that your Hashing power rigs would not be as profitable as our Hashing power rigs set up in the test environments or would not be profitable at all. WARRANTIES NiceHash Platform and Mining Services are provided on the “AS IS” and “AS AVAILABLE” basis, including all faults and defects. To the maximum extent permitted by applicable law, NiceHash makes no representations and warranties and you waive all warranties of any kind. Particularly, without limiting the generality of the foregoing, the NiceHash makes no representations and warranties, whether express, implied, statutory or otherwise regarding NiceHash Platform and Mining Services or other services related to NiceHash Platform and provided by third parties, including any warranty that such services will be uninterrupted, harmless, secure or not corrupt or damaged, meet your requirements, achieve any intended results, be compatible or work with any other software, applications, systems or services, meet any performance or error free or that any errors or defects can or will be corrected. Additionally NiceHash makes no representations and warranties, whether express, implied, statutory or otherwise of merchantability, suitability, reliability, availability, timeliness, accuracy, satisfactory quality, fitness for a particular purpose or quality, title and non-infringement with respect to any of the Mining Services or other services related to NiceHash Platform and provided by third parties, or quiet enjoyment and any warranties arising out of any course of dealing, course of performance, trade practice or usage of NiceHash Platform and Mining Services including information, content and material contained therein. Especially NiceHash makes no representations and warranties, whether express, implied, statutory or otherwise regarding any payment services and systems, NiceHash Wallet which is provided by third party or any other financial services which might be related to the NiceHash Platform and Mining Services. You acknowledge that you do not rely on and have not been induced to accept the NiceHash Platform and Mining Services according to these Terms on the basis of any warranties, representations, covenants, undertakings or any other statement whatsoever, other than expressly set out in these Terms that neither the NiceHash nor any of its respective agents, officers, employees or advisers have given any such warranties, representations, covenants, undertakings or other statements. LIABILITY NiceHash and their respective officers, employees or agents will not be liable to you or anyone else, to the maximum extent permitted by applicable law, for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses or damages that result from use or loss of use of NiceHash Services or NiceHash Wallet), even if NiceHash has been advised of the possibility of such damages or losses, including, without limitation, from the use or attempted use of NiceHash Platform and Mining Services, NiceHash Wallet or other related websites or services. NiceHash does not assume any obligations to users in connection with the unlawful alienation of Bitcoins, which occurred on 6. 12. 2017 with NICEHASH, d. o. o., and has been fully reimbursed with the completion of the NiceHash Repayment Program. NiceHash will not be responsible for any compensation, reimbursement, or damages arising in connection with: (i) your inability to use the NiceHash Platform and Mining Services, including without limitation as a result of any termination or suspension of the NiceHash Platform or these Terms, power outages, maintenance, defects, system failures, mistakes, omissions, errors, defects, viruses, delays in operation or transmission or any failure of performance, (ii) the cost of procurement of substitute goods or services, (iii) any your investments, expenditures, or commitments in connection with these Terms or your use of or access to the NiceHash Platform and Mining Services, (iv) your reliance on any information obtained from NiceHash, (v) Force Majeure Event, communications failure, theft or other interruptions or (vi) any unauthorized access, alteration, deletion, destruction, damage, loss or failure to store any data, including records, private key or other credentials, associated with NiceHash Platform and Mining Services or NiceHash Wallet. Our aggregate liability (including our directors, members, employees and agents), whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of NiceHash Platform and Mining Services, or inability to use the Platform and Services under these Terms or under any other document or agreement executed and delivered in connection herewith or contemplated hereby, shall in any event not exceed 100 EUR per user. You will defend, indemnify, and hold NiceHash harmless and all respective employees, officers, directors, and representatives from and against any claims, demand, action, damages, loss, liabilities, costs and expenses (including reasonable attorney fees) arising out of or relating to (i) any third-party claim concerning these Terms, (ii) your use of, or conduct in connection with, NiceHash Platform and Mining Services, (iii) any feedback you provide, (iv) your violation of these Terms, (v) or your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it. If we are obligated to respond to a third-party subpoena or other compulsory legal order or process described above, you will also reimburse us for reasonable attorney fees, as well as our employees’ and contractors’ time and materials spent responding to the third-party subpoena or other compulsory legal order or process at reasonable hourly rates. The Services and the information, products, and services included in or available through the NiceHash Platform may include inaccuracies or typographical errors. Changes are periodically added to the information herein. Improvements or changes on the NiceHash Platform can be made at any time. NICEHASH ACCOUNT The registration of the NiceHash Account is made through the NiceHash Platform, where you are required to enter your email address and password in the registration form. After successful completion of registration, the confirmation email is sent to you. After you confirm your registration by clicking on the link in the confirmation email the NiceHash Account is created. NiceHash will send you proof of completed registration once the process is completed. When you create NiceHash Account, you agree to (i) create a strong password that you change frequently and do not use for any other website, (ii) implement reasonable and appropriate measures designed to secure access to any device which has access to your email address associated with your NiceHash Account and your username and password for your NiceHash Account, (iii) maintain the security of your NiceHash Account by protecting your password and by restricting access to your NiceHash Account; (iv) promptly notify us if you discover or otherwise suspect any security breaches related to your NiceHash Account so we can take all required and possible measures to secure your NiceHash Account and (v) take responsibility for all activities that occur under your NiceHash Account and accept all risks of any authorized or unauthorized access to your NiceHash Account, to the maximum extent permitted by law. Losing access to your email, registered at NiceHash Platform, may also mean losing access to your NiceHash Account. You may not be able to use the NiceHash Platform or Mining Services, execute withdrawals and other security sensitive operations until you regain access to your email address, registered at NiceHash Platform. If you wish to change the email address linked to your NiceHash Account, we may ask you to complete a KYC procedure for security purposes. This step serves solely for the purpose of identification in the process of regaining access to your NiceHash Account. Once the NiceHash Account is created a NiceHash Wallet is automatically created for the NiceHash Account when the request for the first deposit to the NiceHash Wallet is made by the user. Account holder’s NiceHash Wallet is generated by NiceHash Wallet provider. Account holder is strongly suggested to enhance the security of his NiceHash Account by adding an additional security step of Two-factor authentication (hereinafter “2FA”) when logging into his account, withdrawing funds from his NiceHash Wallet or placing a new order. Account holder can enable this security feature in the settings of his NiceHash Account. In the event of losing or changing 2FA code, we may ask the Account holder to complete a KYC procedure for security reasons. This step serves solely for the purpose of identification in the process of reactivating Account holders 2FA and it may be subject to an a In order to use certain functionalities of the NiceHash Platform, such as paying for the acquired hashing power, users must deposit funds to the NiceHash Wallet, as the payments for the hashing power could be made only through NiceHash Wallet. Hashing power providers have two options to get paid for the provided hashing power: (i) by using NiceHash Wallet to receive the payments or (ii) by providing other Bitcoin address where the payments shall be received to. Hashing power providers provide their Bitcoin address to NiceHash by providing such details via Account holder’s profile settings or in a form of a stratum username while connecting to NiceHash stratum servers. Account holder may load funds on his NiceHash Wallet from his Secondary account. Account holder may be charged fees by the Secondary account provider or by the blockchain network for such transaction. NiceHash is not responsible for any fees charged by Secondary account providers or by the blockchain network or for the management and security of the Secondary accounts. Account holder is solely responsible for his use of Secondary accounts and Account holder agrees to comply with all terms and conditions applicable to any Secondary accounts. The timing associated with a load transaction will depend in part upon the performance of Secondary accounts providers, the performance of blockchain network and performance of the NiceHash Wallet provider. NiceHash makes no guarantee regarding the amount of time it may take to load funds on to NiceHash Wallet. NiceHash Wallet shall not be used by Account holders to keep, save and hold funds for longer period and also not for executing other transactions which are not related to the transactions regarding the NiceHash Platform. The NiceHash Wallet shall be used exclusively and only for current and ongoing transactions regarding the NiceHash Platform. Account holders shall promptly withdraw any funds kept on the NiceHash Wallet that will not be used and are not intended for the reasons described earlier. Commission fees may be charged by the NiceHash Wallet provider, by the blockchain network or by NiceHash for any NiceHash Wallet transactions. Please refer to the NiceHash Platform, for more information about the commission fees for NiceHash Wallet transactions which are applicable at the time of the transaction. NiceHash reserves the right to change these commission fees according to the provisions to change these Terms at any time for any reason. You have the right to use the NiceHash Account only in compliance with these Terms and other commercial terms and principles published on the NiceHash Platform. In particular, you must observe all regulations aimed at ensuring the security of funds and financial transactions. Provided that the balance of funds in your NiceHash Wallet is greater than any minimum balance requirements needed to satisfy any of your open orders, you may withdraw from your NiceHash Wallet any amount of funds, up to the total amount of funds in your NiceHash Wallet in excess of such minimum balance requirements, to Secondary Account, less any applicable withdrawal fees charged by NiceHash or by the blockchain network for such transaction. Withdrawals are not processed instantly and may be grouped with other withdrawal requests. Some withdrawals may require additional verification information which you will have to provide in order to process the withdrawal. It may take up to 24 hours before withdrawal is fully processed and distributed to the Blockchain network. Please refer to the NiceHash Platform for more information about the withdrawal fees and withdrawal processing. NiceHash reserves the right to change these fees according to the provisions to change these Terms at any time for any reason. You have the right to close the NiceHash Account. In case you have funds on your NiceHash Wallet you should withdraw funds from your account prior to requesting NiceHash Account closure. After we receive your NiceHash Account closure request we will deactivate your NiceHash Account. You can read more about closing the NiceHash Account in our Privacy Policy. Your NiceHash Account may be deactivated due to your inactivity. Your NiceHash account may be locked and a mandatory KYC procedure is applied for security reasons, if it has been more than 6 month since your last login. NiceHash or any of its partners or affiliates are not responsible for the loss of the funds, stored on or transferred from the NiceHash Wallet, as well as for the erroneous implementation of the transactions made via NiceHash Wallet, where such loss or faulty implementation of the transaction are the result of a malfunction of the NiceHash Wallet and the malfunction was caused by you or the NiceHash Wallet provider. You are obliged to inform NiceHash in case of loss or theft, as well as in the case of any possible misuse of the access data to your NiceHash Account, without any delay, and demand change of access data or closure of your existing NiceHash Account and submit a request for new access data. NiceHash will execute the change of access data or closure of the NiceHash Account and the opening of new NiceHash Account as soon as technically possible and without any undue delay. All information pertaining to registration, including a registration form, generation of NiceHash Wallet and detailed instructions on the use of the NiceHash Account and NiceHash Wallet are available at NiceHash Platform. The registration form as well as the entire system is properly protected from unwanted interference by third parties. KYC PROCEDURE NiceHash is appropriately implementing AML/CTF and security measures to diligently detect and prevent any malicious or unlawful use of NiceHash Services or use, which is strictly prohibited by these Terms, which are deemed as your agreement to provide required personal information for identity verification. Security measures include a KYC procedure, which is aimed at determining the identity of an individual user or an organisation. We may ask you to complete this procedure before enabling some or all functionalities of the NiceHash platform and provide its services. A KYC procedure might be applied as a security measure when: changing the email address linked to your NiceHash Account, losing or changing your 2FA code; logging in to your NiceHash Account for the first time after the launch of the new NiceHash Platform in August 2019, gaining access to all or a portion of NiceHash Services, NiceHash Wallet and its related services or any portion thereof if they were disabled due to and activating your NiceHash Account if it has been deactivated due to its inactivity and/or security or other reasons. HASHING POWER TRANSACTIONS General NiceHash may, at any time and in our sole discretion, (i) refuse any order submitted or provided hashing power, (ii) cancel an order or part of the order before it is executed, (iii) impose limits on the order amount permitted or on provided hashing power or (iv) impose any other conditions or restrictions upon your use of the NiceHash Platform and Mining Services without prior notice. For example, but not limited to, NiceHash may limit the number of open orders that you may establish or limit the type of supported Hashing power rigs and mining algorithms or NiceHash may restrict submitting orders or providing hashing power from certain locations. Please refer to the NiceHash Platform, for more information about terminology, hashing power transactions’ definitions and descriptions, order types, order submission, order procedure, order rules and other restrictions and limitations of the hashing power transactions. NiceHash reserves the right to change any transaction, definitions, description, order types, procedure, rules, restrictions and limitations at any time for any reason. Orders, provision of hashing power, payments, deposits, withdrawals and other transactions are accepted only through the interface of the NiceHash Platform, NiceHash API and NiceHash Account and are fixed by the software and hardware tools of the NiceHash Platform. If you do not understand the meaning of any transaction option, NiceHash strongly encourages you not to utilize any of those options. Hashing Power Order In order to submit an Hashing Power Order via the NiceHash Account, the Hashing power buyer must have available funds in his NiceHash Wallet. Hashing power buyer submits a new order to buy hashing power via the NiceHash Platform or via the NiceHash API by setting the following parameters in the order form: NiceHash service server location, third-party mining pool, algorithm to use, order type, set amount he is willing to spend on this order, set price per hash he is willing to pay, optionally approximate limit maximum hashing power for his order and other parameters as requested and by confirming his order. Hashing power buyer may submit an order in maximum amount of funds available on his NiceHash Wallet at the time of order submission. Order run time is only approximate since order’s lifetime is based on the number of hashes that it delivers. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any digital assets or hashing power, the actual price per hash at which some of the orders are executed may be different from the prevailing price indicated on NiceHash Platform at the time of your order. You understand that NiceHash is not liable for any such price fluctuations. In the event of market disruption, NiceHash Services disruption, NiceHash Hashing Power Marketplace disruption or manipulation or Force Majeure Event, NiceHash may do one or more of the following: (i) suspend access to the NiceHash Account or NiceHash Platform, or (ii) prevent you from completing any actions in the NiceHash Account, including closing any open orders. Following any such event, when trading resumes, you acknowledge that prevailing market prices may differ significantly from the prices available prior to such event. When Hashing power buyer submits an order for purchasing of the Hashing power via NiceHash Platform or via the NiceHash API he authorizes NiceHash to execute the order on his behalf and for his account in accordance with such order. Hashing power buyer acknowledges and agrees that NiceHash is not acting as his broker, intermediary, agent or advisor or in any fiduciary capacity. NiceHash executes the order in set order amount minus NiceHash’s processing fee. Once the order is successfully submitted the order amount starts to decrease in real time according to the payments for the provided hashing power. Hashing power buyer agrees to pay applicable processing fee to NiceHash for provided services. The NiceHash’s fees are deducted from Hashing power buyer’s NiceHash Wallet once the whole order is exhausted and completed. Please refer to the NiceHash Platform, for more information about the fees which are applicable at the time of provision of services. NiceHash reserves the right to change these fees according to the provisions to change these Terms at any time for any reason. The changed fees will apply only for the NiceHash Services provided after the change of the fees. All orders submitted prior the fee change but not necessary completed prior the fee change will be charged according to the fees applicable at the time of the submission of the order. NiceHash will attempt, on a commercially reasonable basis, to execute the Hashing power buyer’s purchase of the hashing power on the Hashing power marketplace under these Terms according to the best-effort delivery approach. In this respect NiceHash does not guarantee that the hashing power will actually be delivered or verified and does not guarantee any quality of the NiceHash Services. Hashing power buyer may cancel a submitted order during order’s lifetime. If an order has been partially executed, Hashing power buyer may cancel the unexecuted remainder of the order. In this case the NiceHash’s processing fee will apply only for the partially executed order. NiceHash reserves the right to refuse any order cancellation request once the order has been submitted. Selling Hashing Power and the Provision of Hashing Power In order to submit the hashing power to the NiceHash stratum server the Hashing power provider must first point its Hashing power rig to the NiceHash stratum server. Hashing power provider is solely responsible for configuration of his Hashing power rig. The Hashing power provider gets paid by Hashing power buyers for all validated and accepted work that his Hashing power rig has produced. The provided hashing power is validated by NiceHash’s stratum engine and validator. Once the hashing power is validated the Hashing power provider is entitled to receive the payment for his work. NiceHash logs all validated hashing power which was submitted by the Hashing power provider. The Hashing power provider receives the payments of current globally weighted average price on to his NiceHash Wallet or his selected personal Bitcoin address. The payments are made periodically depending on the height of payments. NiceHash reserves the right to hold the payments any time and for any reason by indicating the reason, especially if the payments represent smaller values. Please refer to the NiceHash Platform, for more information about the height of payments for provided hashing power, how the current globally weighted average price is calculated, payment periods, payment conditions and conditions for detention of payments. NiceHash reserves the right to change this payment policy according to the provisions to change these Terms at any time for any reason. All Hashing power rig’s earnings and profitability calculations on NiceHash Platform are only for informational purposes. NiceHash does not warrant that your Hashing power rigs would achieve the same profitability or earnings as calculated on NiceHash Platform. You hereby acknowledge that it is possible that your Hashing power rigs would not be as profitable as indicated in our informational calculations or would not be profitable at all. Hashing power provider agrees to pay applicable processing fee to NiceHash for provided Services. The NiceHash’s fees are deducted from all the payments made to the Hashing power provider for his provided work. Please refer to the NiceHash Platform, for more information about the fees which are applicable at the time of provision of services. Hashing power provider which has not submitted any hashing power to the NiceHash stratum server for a period of 90 days agrees that a processing fee of 0.00001000 BTC or less, depending on the unpaid mining balance, will be deducted from his unpaid mining balance. NiceHash reserves the right to change these fees according to the provisions to change these Terms at any time for any reason. The changed fees will apply only for the NiceHash Services provided after the change of the fees. NiceHash will attempt, on a commercially reasonable basis, to execute the provision of Hashing power providers’ hashing power on the Hashing power marketplace under these Terms according to the best-effort delivery approach. In this respect NiceHash does not guarantee that the hashing power will actually be delivered or verified and does not guarantee any quality of the NiceHash Services. Hashing power provider may disconnect the Hashing power rig from the NiceHash stratum server any time. NiceHash reserves the right to refuse any Hashing power rig once the Hashing power rig has been pointed towards NiceHash stratum server. 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If you do not agree to any amended Terms, (i) the agreement between you and NiceHash is terminated by expiry of 30 days period which starts after NiceHash provides you a notice of change of these Terms, (ii) you must discontinue using NiceHash Services and (iii) you must inform us regarding your disagreement with the changes and request closure of your NiceHash Account. If you do not inform us regarding your disagreement and do not request closure of you NiceHash Account, we will deem that you agree with the changed Terms. You may not assign or transfer your rights or obligations under these Terms without the prior written consent of NiceHash. NiceHash may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval. These Terms shall be governed by and construed and enforced in accordance with the Laws of the British Virgin Islands, and shall be interpreted in all respects as a British Virgin Islands contract. 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vvizardev / Telegram Wallet Tracking Bot V1.0Solana-Wallet-Tracker: This bot tracks wallet activity such as sol transfer , token transfer and swap and notify to your telegram account
Mdshobu / Liberty House Club Whitepaper# Liberty House Club **A Parallel Binance Chain to Enable Smart Contracts** _NOTE: This document is under development. Please check regularly for updates!_ ## Table of Contents - [Motivation](#motivation) - [Design Principles](#design-principles) - [Consensus and Validator Quorum](#consensus-and-validator-quorum) * [Proof of Staked Authority](#proof-of-staked-authority) * [Validator Quorum](#validator-quorum) * [Security and Finality](#security-and-finality) * [Reward](#reward) - [Token Economy](#token-economy) * [Native Token](#native-token) * [Other Tokens](#other-tokens) - [Cross-Chain Transfer and Communication](#cross-chain-transfer-and-communication) * [Cross-Chain Transfer](#cross-chain-transfer) * [BC to BSC Architecture](#bc-to-bsc-architecture) * [BSC to BC Architecture](#bsc-to-bc-architecture) * [Timeout and Error Handling](#timeout-and-error-handling) * [Cross-Chain User Experience](#cross-chain-user-experience) * [Cross-Chain Contract Event](#cross-chain-contract-event) - [Staking and Governance](#staking-and-governance) * [Staking on BC](#staking-on-bc) * [Rewarding](#rewarding) * [Slashing](#slashing) - [Relayers](#relayers) * [BSC Relayers](#bsc-relayers) * [Oracle Relayers](#oracle-relayers) - [Outlook](#outlook) # Motivation After its mainnet community [launch](https://www.binance.com/en/blog/327334696200323072/Binance-DEX-Launches-on-Binance-Chain-Invites-Further-Community-Development) in April 2019, [Binance Chain](https://www.binance.org) has exhibited its high speed and large throughput design. Binance Chain’s primary focus, its native [decentralized application](https://en.wikipedia.org/wiki/Decentralized_application) (“dApp”) [Binance DEX](https://www.binance.org/trade), has demonstrated its low-latency matching with large capacity headroom by handling millions of trading volume in a short time. Flexibility and usability are often in an inverse relationship with performance. The concentration on providing a convenient digital asset issuing and trading venue also brings limitations. Binance Chain's most requested feature is the programmable extendibility, or simply the [Smart Contract](https://en.wikipedia.org/wiki/Smart_contract) and Virtual Machine functions. Digital asset issuers and owners struggle to add new decentralized features for their assets or introduce any sort of community governance and activities. Despite this high demand for adding the Smart Contract feature onto Binance Chain, it is a hard decision to make. The execution of a Smart Contract may slow down the exchange function and add non-deterministic factors to trading. If that compromise could be tolerated, it might be a straightforward idea to introduce a new Virtual Machine specification based on [Tendermint](https://tendermint.com/core/), based on the current underlying consensus protocol and major [RPC](https://docs.binance.org/api-reference/node-rpc.html) implementation of Binance Chain. But all these will increase the learning requirements for all existing dApp communities, and will not be very welcomed. We propose a parallel blockchain of the current Binance Chain to retain the high performance of the native DEX blockchain and to support a friendly Smart Contract function at the same time. # Design Principles After the creation of the parallel blockchain into the Binance Chain ecosystem, two blockchains will run side by side to provide different services. The new parallel chain will be called “**Binance Smart Chain**” (short as “**BSC**” for the below sections), while the existing mainnet remains named “**Binance Chain**” (short as “**BC**” for the below sections). Here are the design principles of **BSC**: 1. **Standalone Blockchain**: technically, BSC is a standalone blockchain, instead of a layer-2 solution. Most BSC fundamental technical and business functions should be self-contained so that it can run well even if the BC stopped for a short period. 2. **Ethereum Compatibility**: The first practical and widely-used Smart Contract platform is Ethereum. To take advantage of the relatively mature applications and community, BSC chooses to be compatible with the existing Ethereum mainnet. This means most of the **dApps**, ecosystem components, and toolings will work with BSC and require zero or minimum changes; BSC node will require similar (or a bit higher) hardware specification and skills to run and operate. The implementation should leave room for BSC to catch up with further Ethereum upgrades. 3. **Staking Involved Consensus and Governance**: Staking-based consensus is more environmentally friendly and leaves more flexible option to the community governance. Expectedly, this consensus should enable better network performance over [proof-of-work](https://en.wikipedia.org/wiki/Proof_of_work) blockchain system, i.e., faster blocking time and higher transaction capacity. 4. **Native Cross-Chain Communication**: both BC and BSC will be implemented with native support for cross-chain communication among the two blockchains. The communication protocol should be bi-directional, decentralized, and trustless. It will concentrate on moving digital assets between BC and BSC, i.e., [BEP2](https://github.com/binance-chain/BEPs/blob/master/BEP2.md) tokens, and eventually, other BEP tokens introduced later. The protocol should care for the minimum of other items stored in the state of the blockchains, with only a few exceptions. # Consensus and Validator Quorum Based on the above design principles, the consensus protocol of BSC is to fulfill the following goals: 1. Blocking time should be shorter than Ethereum network, e.g. 5 seconds or even shorter. 2. It requires limited time to confirm the finality of transactions, e.g. around 1-min level or shorter. 3. There is no inflation of native token: BNB, the block reward is collected from transaction fees, and it will be paid in BNB. 4. It is compatible with Ethereum system as much as possible. 5. It allows modern [proof-of-stake](https://en.wikipedia.org/wiki/Proof_of_stake) blockchain network governance. ## Proof of Staked Authority Although Proof-of-Work (PoW) has been recognized as a practical mechanism to implement a decentralized network, it is not friendly to the environment and also requires a large size of participants to maintain the security. Ethereum and some other blockchain networks, such as [MATIC Bor](https://github.com/maticnetwork/bor), [TOMOChain](https://tomochain.com/), [GoChain](https://gochain.io/), [xDAI](https://xdai.io/), do use [Proof-of-Authority(PoA)](https://en.wikipedia.org/wiki/Proof_of_authority) or its variants in different scenarios, including both testnet and mainnet. PoA provides some defense to 51% attack, with improved efficiency and tolerance to certain levels of Byzantine players (malicious or hacked). It serves as an easy choice to pick as the fundamentals. Meanwhile, the PoA protocol is most criticized for being not as decentralized as PoW, as the validators, i.e. the nodes that take turns to produce blocks, have all the authorities and are prone to corruption and security attacks. Other blockchains, such as EOS and Lisk both, introduce different types of [Delegated Proof of Stake (DPoS)](https://en.bitcoinwiki.org/wiki/DPoS) to allow the token holders to vote and elect the validator set. It increases the decentralization and favors community governance. BSC here proposes to combine DPoS and PoA for consensus, so that: 1. Blocks are produced by a limited set of validators 2. Validators take turns to produce blocks in a PoA manner, similar to [Ethereum’s Clique](https://eips.ethereum.org/EIPS/eip-225) consensus design 3. Validator set are elected in and out based on a staking based governance ## Validator Quorum In the genesis stage, a few trusted nodes will run as the initial Validator Set. After the blocking starts, anyone can compete to join as candidates to elect as a validator. The staking status decides the top 21 most staked nodes to be the next validator set, and such an election will repeat every 24 hours. **BNB** is the token used to stake for BSC. In order to remain as compatible as Ethereum and upgradeable to future consensus protocols to be developed, BSC chooses to rely on the **BC** for staking management (Please refer to the below “[Staking and Governance](#staking-and-governance)” section). There is a **dedicated staking module for BSC on BC**. It will accept BSC staking from BNB holders and calculate the highest staked node set. Upon every UTC midnight, BC will issue a verifiable `ValidatorSetUpdate` cross-chain message to notify BSC to update its validator set. While producing further blocks, the existing BSC validators check whether there is a `ValidatorSetUpdate` message relayed onto BSC periodically. If there is, they will update the validator set after an **epoch period**, i.e. a predefined number of blocking time. For example, if BSC produces a block every 5 seconds, and the epoch period is 240 blocks, then the current validator set will check and update the validator set for the next epoch in 1200 seconds (20 minutes). ## Security and Finality Given there are more than ½\*N+1 validators are honest, PoA based networks usually work securely and properly. However, there are still cases where certain amount Byzantine validators may still manage to attack the network, e.g. through the “[Clone Attack](https://arxiv.org/pdf/1902.10244.pdf)”. To secure as much as BC, BSC users are encouraged to wait until receiving blocks sealed by more than ⅔\*N+1 different validators. In that way, the BSC can be trusted at a similar security level to BC and can tolerate less than ⅓\*N Byzantine validators. With 21 validators, if the block time is 5 seconds, the ⅔\*N+1 different validator seals will need a time period of (⅔\*21+1)*5 = 75 seconds. Any critical applications for BSC may have to wait for ⅔\*N+1 to ensure a relatively secure finality. However, besides such arrangement, BSC does introduce **Slashing** logic to penalize Byzantine validators for **double signing** or **inavailability**, which will be covered in the “Staking and Governance” section later. This Slashing logic will expose the malicious validators in a very short time and make the “Clone Attack” very hard or extremely non-beneficial to execute. With this enhancement, ½\*N+1 or even fewer blocks are enough as confirmation for most transactions. ## Reward All the BSC validators in the current validator set will be rewarded with transaction **fees in BNB**. As BNB is not an inflationary token, there will be no mining rewards as what Bitcoin and Ethereum network generate, and the gas fee is the major reward for validators. As BNB is also utility tokens with other use cases, delegators and validators will still enjoy other benefits of holding BNB. The reward for validators is the fees collected from transactions in each block. Validators can decide how much to give back to the delegators who stake their BNB to them, in order to attract more staking. Every validator will take turns to produce the blocks in the same probability (if they stick to 100% liveness), thus, in the long run, all the stable validators may get a similar size of the reward. Meanwhile, the stakes on each validator may be different, so this brings a counter-intuitive situation that more users trust and delegate to one validator, they potentially get less reward. So rational delegators will tend to delegate to the one with fewer stakes as long as the validator is still trustful (insecure validator may bring slashable risk). In the end, the stakes on all the validators will have less variation. This will actually prevent the stake concentration and “winner wins forever” problem seen on some other networks. Some parts of the gas fee will also be rewarded to relayers for Cross-Chain communication. Please refer to the “[Relayers](#relayers)” section below. # Token Economy BC and BSC share the same token universe for BNB and BEP2 tokens. This defines: 1. The same token can circulate on both networks, and flow between them bi-directionally via a cross-chain communication mechanism. 2. The total circulation of the same token should be managed across the two networks, i.e. the total effective supply of a token should be the sum of the token’s total effective supply on both BSC and BC. 3. The tokens can be initially created on BSC in a similar format as ERC20 token standard, or on BC as a BEP2, then created on the other. There are native ways on both networks to link the two and secure the total supply of the token. ## Native Token BNB will run on BSC in the same way as ETH runs on Ethereum so that it remains as “native token” for both BSC and BC. This means, in addition to BNB is used to pay most of the fees on Binance Chain and Binance DEX, BNB will be also used to: 1. pay “fees“ to deploy smart contracts on BSC 2. stake on selected BSC validators, and get corresponding rewards 3. perform cross-chain operations, such as transfer token assets across BC and BSC ### Seed Fund Certain amounts of BNB will be burnt on BC and minted on BSC during its genesis stage. This amount is called “Seed Fund” to circulate on BSC after the first block, which will be dispatched to the initial BC-to-BSC Relayer(described in later sections) and initial validator set introduced at genesis. These BNBs are used to pay transaction fees in the early stage to transfer more BNB from BC onto BSC via the cross-chain mechanism. The BNB cross-chain transfer is discussed in a later section, but for BC to BSC transfer, it is generally to lock BNB on BC from the source address of the transfer to a system-controlled address and unlock the corresponding amount from special contract to the target address of the transfer on BSC, or reversely, when transferring from BSC to BC, it is to lock BNB from the source address on BSC into a special contract and release locked amount on BC from the system address to the target address. The logic is related to native code on BC and a series of smart contracts on BSC. ## Other Tokens BC supports BEP2 tokens and upcoming [BEP8 tokens](https://github.com/binance-chain/BEPs/pull/69), which are native assets transferrable and tradable (if listed) via fast transactions and sub-second finality. Meanwhile, as BSC is Ethereum compatible, it is natural to support ERC20 tokens on BSC, which here is called “**BEP2E**” (with the real name to be introduced by the future BEPs,it potentially covers BEP8 as well). BEP2E may be “Enhanced” by adding a few more methods to expose more information, such as token denomination, decimal precision definition and the owner address who can decide the Token Binding across the chains. BSC and BC work together to ensure that one token can circulate in both formats with confirmed total supply and be used in different use cases. ### Token Binding BEP2 tokens will be extended to host a new attribute to associate the token with a BSC BEP2E token contract, called “**Binder**”, and this process of association is called “**Token Binding**”. Token Binding can happen at any time after BEP2 and BEP2E are ready. The token owners of either BEP2 or BEP2E don’t need to bother about the Binding, until before they really want to use the tokens on different scenarios. Issuers can either create BEP2 first or BEP2E first, and they can be bound at a later time. Of course, it is encouraged for all the issuers of BEP2 and BEP2E to set the Binding up early after the issuance. A typical procedure to bind the BEP2 and BEP2E will be like the below: 1. Ensure both the BEP2 token and the BEP2E token both exist on each blockchain, with the same total supply. BEP2E should have 3 more methods than typical ERC20 token standard: * symbol(): get token symbol * decimals(): get the number of the token decimal digits * owner(): get **BEP2E contract owner’s address.** This value should be initialized in the BEP2E contract constructor so that the further binding action can verify whether the action is from the BEP2E owner. 2. Decide the initial circulation on both blockchains. Suppose the total supply is *S*, and the expected initial circulating supply on BC is *K*, then the owner should lock S-K tokens to a system controlled address on BC. 3. Equivalently, *K* tokens is locked in the special contract on BSC, which handles major binding functions and is named as **TokenHub**. The issuer of the BEP2E token should lock the *K* amount of that token into TokenHub, resulting in *S-K* tokens to circulate on BSC. Thus the total circulation across 2 blockchains remains as *S*. 4. The issuer of BEP2 token sends the bind transaction on BC. Once the transaction is executed successfully after proper verification: * It transfers *S-K* tokens to a system-controlled address on BC. * A cross-chain bind request package will be created, waiting for Relayers to relay. 5. BSC Relayers will relay the cross-chain bind request package into **TokenHub** on BSC, and the corresponding request and information will be stored into the contract. 6. The contract owner and only the owner can run a special method of TokenHub contract, `ApproveBind`, to verify the binding request to mark it as a success. It will confirm: * the token has not been bound; * the binding is for the proper symbol, with proper total supply and decimal information; * the proper lock are done on both networks; 10. Once the `ApproveBind` method has succeeded, TokenHub will mark the two tokens are bounded and share the same circulation on BSC, and the status will be propagated back to BC. After this final confirmation, the BEP2E contract address and decimals will be written onto the BEP2 token as a new attribute on BC, and the tokens can be transferred across the two blockchains bidirectionally. If the ApproveBind fails, the failure event will also be propagated back to BC to release the locked tokens, and the above steps can be re-tried later. # Cross-Chain Transfer and Communication Cross-chain communication is the key foundation to allow the community to take advantage of the dual chain structure: * users are free to create any tokenization, financial products, and digital assets on BSC or BC as they wish * the items on BSC can be manually and programmingly traded and circulated in a stable, high throughput, lighting fast and friendly environment of BC * users can operate these in one UI and tooling ecosystem. ## Cross-Chain Transfer The cross-chain transfer is the key communication between the two blockchains. Essentially the logic is: 1. the `transfer-out` blockchain will lock the amount from source owner addresses into a system controlled address/contracts; 2. the `transfer-in` blockchain will unlock the amount from the system controlled address/contracts and send it to target addresses. The cross-chain transfer package message should allow the BSC Relayers and BC **Oracle Relayers** to verify: 1. Enough amount of token assets are removed from the source address and locked into a system controlled addresses/contracts on the source blockchain. And this can be confirmed on the target blockchain. 2. Proper amounts of token assets are released from a system controlled addresses/contracts and allocated into target addresses on the target blockchain. If this fails, it can be confirmed on source blockchain, so that the locked token can be released back (may deduct fees). 3. The sum of the total circulation of the token assets across the 2 blockchains are not changed after this transfer action completes, no matter if the transfer succeeds or not.  The architecture of cross-chain communication is as in the above diagram. To accommodate the 2 heteroid systems, communication handling is different in each direction. ## BC to BSC Architecture BC is a Tendermint-based, instant finality blockchain. Validators with at least ⅔\*N+1 of the total voting power will co-sign each block on the chain. So that it is practical to verify the block transactions and even the state value via **Block Header** and **Merkle Proof** verification. This has been researched and implemented as “**Light-Client Protocol**”, which are intensively discussed in [the Ethereum](https://github.com/ethereum/wiki/wiki/Light-client-protocol) community, studied and implemented for [Cosmos inter-chain communication](https://github.com/cosmos/ics/blob/a4173c91560567bdb7cc9abee8e61256fc3725e9/spec/ics-007-tendermint-client/README.md). BC-to-BSC communication will be verified in an “**on-chain light client**” implemented via BSC **Smart Contracts** (some of them may be **“pre-compiled”**). After some transactions and state change happen on BC, if a transaction is defined to trigger cross-chain communication,the Cross-chain “**package**” message will be created and **BSC Relayers** will pass and submit them onto BSC as data into the "build-in system contracts". The build-in system contracts will verify the package and execute the transactions if it passes the verification. The verification will be guaranteed with the below design: 1. BC blocking status will be synced to the light client contracts on BSC from time to time, via block header and pre-commits, for the below information: * block and app hash of BC that are signed by validators * current validatorset, and validator set update 2. the key-value from the blockchain state will be verified based on the Merkle Proof and information from above #1. After confirming the key-value is accurate and trustful, the build-in system contracts will execute the actions corresponding to the cross-chain packages. Some examples of such packages that can be created for BC-to-BSC are: 1. Bind: bind the BEP2 tokens and BEP2E 2. Transfer: transfer tokens after binding, this means the circulation will decrease (be locked) from BC and appear in the target address balance on BSC 3. Error Handling: to handle any timeout/failure event for BSC-to-BC communication 4. Validatorset update of BSC To ensure no duplication, proper message sequence and timely timeout, there is a “Channel” concept introduced on BC to manage any types of the communication. For relayers, please also refer to the below “Relayers” section. ## BSC to BC Architecture BSC uses Proof of Staked Authority consensus protocol, which has a chance to fork and requires confirmation of more blocks. One block only has the signature of one validator, so that it is not easy to rely on one block to verify data from BSC. To take full advantage of validator quorum of BC, an idea similar to many [Bridge ](https://github.com/poanetwork/poa-bridge)or Oracle blockchains is adopted: 1. The cross-chain communication requests from BSC will be submitted and executed onto BSC as transactions. The execution of the transanction wil emit `Events`, and such events can be observed and packaged in certain “**Oracle**” onto BC. Instead of Block Headers, Hash and Merkle Proof, this type of “Oracle” package directly contains the cross-chain information for actions, such as sender, receiver and amount for transfer. 2. To ensure the security of the Oracle, the validators of BC will form anothe quorum of “**Oracle Relayers**”. Each validator of the BC should run a **dedicated process** as the Oracle Relayer. These Oracle Relayers will submit and vote for the cross-chain communication package, like Oracle, onto BC, using the same validator keys. Any package signed by more than ⅔\*N+1 Oracle Relayers’ voting power is as secure as any block signed by ⅔\*N+1 of the same quorum of validators’ voting power. By using the same validator quorum, it saves the light client code on BC and continuous block updates onto BC. Such Oracles also have Oracle IDs and types, to ensure sequencing and proper error handling. ## Timeout and Error Handling There are scenarios that the cross-chain communication fails. For example, the relayed package cannot be executed on BSC due to some coding bug in the contracts. **Timeout and error handling logics are** used in such scenarios. For the recognizable user and system errors or any expected exceptions, the two networks should heal themselves. For example, when BC to BSC transfer fails, BSC will issue a failure event and Oracle Relayers will execute a refund on BC; when BSC to BC transfer fails, BC will issue a refund package for Relayer to relay in order to unlock the fund. However, unexpected error or exception may still happen on any step of the cross-chain communication. In such a case, the Relayers and Oracle Relayers will discover that the corresponding cross-chain channel is stuck in a particular sequence. After a Timeout period, the Relayers and Oracle Relayers can request a “SkipSequence” transaction, the stuck sequence will be marked as “Unexecutable”. A corresponding alerts will be raised, and the community has to discuss how to handle this scenario, e.g. payback via the sponsor of the validators, or event clear the fund during next network upgrade. ## Cross-Chain User Experience Ideally, users expect to use two parallel chains in the same way as they use one single chain. It requires more aggregated transaction types to be added onto the cross-chain communication to enable this, which will add great complexity, tight coupling, and maintenance burden. Here BC and BSC only implement the basic operations to enable the value flow in the initial launch and leave most of the user experience work to client side UI, such as wallets. E.g. a great wallet may allow users to sell a token directly from BSC onto BC’s DEX order book, in a secure way. ## Cross-Chain Contract Event Cross-Chain Contract Event (CCCE) is designed to allow a smart contract to trigger cross-chain transactions, directly through the contract code. This becomes possible based on: 1. Standard system contracts can be provided to serve operations callable by general smart contracts; 2. Standard events can be emitted by the standard contracts; 3. Oracle Relayers can capture the standard events, and trigger the corresponding cross-chain operations; 4. Dedicated, code-managed address (account) can be created on BC and accessed by the contracts on the BSC, here it is named as **“Contract Address on BC” (CAoB)**. Several standard operations are implemented: 1. BSC to BC transfer: this is implemented in the same way as normal BSC to BC transfer, by only triggered via standard contract. The fund can be transferred to any addresses on BC, including the corresponding CAoB of the transfer originating contract. 2. Transfer on BC: this is implemented as a special cross-chain transfer, while the real transfer is from **CAoB** to any other address (even another CAoB). 3. BC to BSC transfer: this is implemented as two-pass cross-chain communication. The first is triggered by the BSC contract and propagated onto BC, and then in the second pass, BC will start a normal BC to BSC cross-chain transfer, from **CAoB** to contract address on BSC. A special note should be paid on that the BSC contract only increases balance upon any transfer coming in on the second pass, and the error handling in the second pass is the same as the normal BC to BSC transfer. 4. IOC (Immediate-Or-Cancel) Trade Out: the primary goal of transferring assets to BC is to trade. This event will instruct to trade a certain amount of an asset in CAoB into another asset as much as possible and transfer out all the results, i.e. the left the source and the traded target tokens of the trade, back to BSC. BC will handle such relayed events by sending an “Immediate-Or-Cancel”, i.e. IOC order onto the trading pairs, once the next matching finishes, the result will be relayed back to BSC, which can be in either one or two assets. 5. Auction Trade Out: Such event will instruct BC to send an auction order to trade a certain amount of an asset in **CAoB** into another asset as much as possible and transfer out all the results back to BSC at the end of the auction. Auction function is upcoming on BC. There are some details for the Trade Out: 1. both can have a limit price (absolute or relative) for the trade; 2. the end result will be written as cross-chain packages to relay back to BSC; 3. cross-chain communication fees may be charged from the asset transferred back to BSC; 4. BSC contract maintains a mirror of the balance and outstanding orders on CAoB. No matter what error happens during the Trade Out, the final status will be propagated back to the originating contract and clear its internal state. With the above features, it simply adds the cross-chain transfer and exchange functions with high liquidity onto all the smart contracts on BSC. It will greatly add the application scenarios on Smart Contract and dApps, and make 1 chain +1 chain > 2 chains. # Staking and Governance Proof of Staked Authority brings in decentralization and community involvement. Its core logic can be summarized as the below. You may see similar ideas from other networks, especially Cosmos and EOS. 1. Token holders, including the validators, can put their tokens “**bonded**” into the stake. Token holders can **delegate** their tokens onto any validator or validator candidate, to expect it can become an actual validator, and later they can choose a different validator or candidate to **re-delegate** their tokens<sup>1</sup>. 2. All validator candidates will be ranked by the number of bonded tokens on them, and the top ones will become the real validators. 3. Validators can share (part of) their blocking reward with their delegators. 4. Validators can suffer from “**Slashing**”, a punishment for their bad behaviors, such as double sign and/or instability. 5. There is an “**unbonding period**” for validators and delegators so that the system makes sure the tokens remain bonded when bad behaviors are caught, the responsible will get slashed during this period. ## Staking on BC Ideally, such staking and reward logic should be built into the blockchain, and automatically executed as the blocking happens. Cosmos Hub, who shares the same Tendermint consensus and libraries with Binance Chain, works in this way. BC has been preparing to enable staking logic since the design days. On the other side, as BSC wants to remain compatible with Ethereum as much as possible, it is a great challenge and efforts to implement such logic on it. This is especially true when Ethereum itself may move into a different Proof of Stake consensus protocol in a short (or longer) time. In order to keep the compatibility and reuse the good foundation of BC, the staking logic of BSC is implemented on BC: 1. The staking token is BNB, as it is a native token on both blockchains anyway 2. The staking, i.e. token bond and delegation actions and records for BSC, happens on BC. 3. The BSC validator set is determined by its staking and delegation logic, via a staking module built on BC for BSC, and propagated every day UTC 00:00 from BC to BSC via Cross-Chain communication. 4. The reward distribution happens on BC around every day UTC 00:00. ## Rewarding Both the validator update and reward distribution happen every day around UTC 00:00. This is to save the cost of frequent staking updates and block reward distribution. This cost can be significant, as the blocking reward is collected on BSC and distributed on BC to BSC validators and delegators. (Please note BC blocking fees will remain rewarding to BC validators only.) A deliberate delay is introduced here to make sure the distribution is fair: 1. The blocking reward will not be sent to validator right away, instead, they will be distributed and accumulated on a contract; 2. Upon receiving the validator set update into BSC, it will trigger a few cross-chain transfers to transfer the reward to custody addresses on the corresponding validators. The custody addresses are owned by the system so that the reward cannot be spent until the promised distribution to delegators happens. 3. In order to make the synchronization simpler and allocate time to accommodate slashing, the reward for N day will be only distributed in N+2 days. After the delegators get the reward, the left will be transferred to validators’ own reward addresses. ## Slashing Slashing is part of the on-chain governance, to ensure the malicious or negative behaviors are punished. BSC slash can be submitted by anyone. The transaction submission requires **slash evidence** and cost fees but also brings a larger reward when it is successful. So far there are two slashable cases. ### Double Sign It is quite a serious error and very likely deliberate offense when a validator signs more than one block with the same height and parent block. The reference protocol implementation should already have logic to prevent this, so only the malicious code can trigger this. When Double Sign happens, the validator should be removed from the Validator **Set** right away. Anyone can submit a slash request on BC with the evidence of Double Sign of BSC, which should contain the 2 block headers with the same height and parent block, sealed by the offending validator. Upon receiving the evidence, if the BC verifies it to be valid: 1. The validator will be removed from validator set by an instance BSC validator set update Cross-Chain update; 2. A predefined amount of BNB would be slashed from the **self-delegated** BNB of the validator; Both validator and its delegators will not receive the staking rewards. 3. Part of the slashed BNB will allocate to the submitter’s address, which is a reward and larger than the cost of submitting slash request transaction 4. The rest of the slashed BNB will allocate to the other validators’ custody addresses, and distributed to all delegators in the same way as blocking reward. ### Inavailability The liveness of BSC relies on everyone in the Proof of Staked Authority validator set can produce blocks timely when it is their turn. Validators can miss their turn due to any reason, especially problems in their hardware, software, configuration or network. This instability of the operation will hurt the performance and introduce more indeterministic into the system. There can be an internal smart contract responsible for recording the missed blocking metrics of each validator. Once the metrics are above the predefined threshold, the blocking reward for validator will not be relayed to BC for distribution but shared with other better validators. In such a way, the poorly-operating validator should be gradually voted out of the validator set as their delegators will receive less or none reward. If the metrics remain above another higher level of threshold, the validator will be dropped from the rotation, and this will be propagated back to BC, then a predefined amount of BNB would be slashed from the **self-delegated** BNB of the validator. Both validators and delegators will not receive their staking rewards. ### Governance Parameters There are many system parameters to control the behavior of the BSC, e.g. slash amount, cross-chain transfer fees. All these parameters will be determined by BSC Validator Set together through a proposal-vote process based on their staking. Such the process will be carried on BC, and the new parameter values will be picked up by corresponding system contracts via a cross-chain communication. # Relayers Relayers are responsible to submit Cross-Chain Communication Packages between the two blockchains. Due to the heterogeneous parallel chain structure, two different types of Relayers are created. ## BSC Relayers Relayers for BC to BSC communication referred to as “**BSC Relayers**”, or just simply “Relayers”. Relayer is a standalone process that can be run by anyone, and anywhere, except that Relayers must register themselves onto BSC and deposit a certain refundable amount of BNB. Only relaying requests from the registered Relayers will be accepted by BSC. The package they relay will be verified by the on-chain light client on BSC. The successful relay needs to pass enough verification and costs gas fees on BSC, and thus there should be incentive reward to encourage the community to run Relayers. ### Incentives There are two major communication types: 1. Users triggered Operations, such as `token bind` or `cross chain transfer`. Users must pay additional fee to as relayer reward. The reward will be shared with the relayers who sync the referenced blockchain headers. Besides, the reward won't be paid the relayers' accounts directly. A reward distribution mechanism will be brought in to avoid monopolization. 2. System Synchronization, such as delivering `refund package`(caused by failures of most oracle relayers), special blockchain header synchronization(header contains BC validatorset update), BSC staking package. System reward contract will pay reward to relayers' accounts directly. If some Relayers have faster networks and better hardware, they can monopolize all the package relaying and leave no reward to others. Thus fewer participants will join for relaying, which encourages centralization and harms the efficiency and security of the network. Ideally, due to the decentralization and dynamic re-election of BSC validators, one Relayer can hardly be always the first to relay every message. But in order to avoid the monopolization further, the rewarding economy is also specially designed to minimize such chance: 1. The reward for Relayers will be only distributed in batches, and one batch will cover a number of successful relayed packages. 2. The reward a Relayer can get from a batch distribution is not linearly in proportion to their number of successful relayed packages. Instead, except the first a few relays, the more a Relayer relays during a batch period, the less reward it will collect. ## Oracle Relayers Relayers for BSC to BC communication are using the “Oracle” model, and so-called “**Oracle Relayers**”. Each of the validators must, and only the ones of the validator set, run Oracle Relayers. Each Oracle Relayer watches the blockchain state change. Once it catches Cross-Chain Communication Packages, it will submit to vote for the requests. After Oracle Relayers from ⅔ of the voting power of BC validators vote for the changes, the cross-chain actions will be performed. Oracle Replayers should wait for enough blocks to confirm the finality on BSC before submitting and voting for the cross-chain communication packages onto BC. The cross-chain fees will be distributed to BC validators together with the normal BC blocking rewards. Such oracle type relaying depends on all the validators to support. As all the votes for the cross-chain communication packages are recorded on the blockchain, it is not hard to have a metric system to assess the performance of the Oracle Relayers. The poorest performer may have their rewards clawed back via another Slashing logic introduced in the future. # Outlook It is hard to conclude for Binance Chain, as it has never stopped evolving. The dual-chain strategy is to open the gate for users to take advantage of the fast transferring and trading on one side, and flexible and extendable programming on the other side, but it will be one stop along the development of Binance Chain. Here below are the topics to look into so as to facilitate the community better for more usability and extensibility: 1. Add different digital asset model for different business use cases 2. Enable more data feed, especially DEX market data, to be communicated from Binance DEX to BSC 3. Provide interface and compatibility to integrate with Ethereum, including its further upgrade, and other blockchain 4. Improve client side experience to manage wallets and use blockchain more conveniently ------ [1]: BNB business practitioners may provide other benefits for BNB delegators, as they do now for long term BNB holders.
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