BINANCE - Proof Of Review

Chainlink analysis - my thoughts and research

Necessary Disclaimer: no rule breaking intended. No price manipulation intended. I only want to share verifiable facts/links and my analysis. If I am doing anything against the rules please let me know and I will do my best to fix it ASAP. I trade crypto, including LINK, and I am currently short on LINK. This is not financial advice; this is just for my own record and to start a discussion for anyone who might want more transparency around LINK.

TL;DR:

I believe there is a lot of misinformation, uncertainty, and unanswered questions about the LINK token, the Chainlink ecosystem, the SmartContract parent company. I also believe that LINK's current price is unjustified based on fundamental factors like usage/business case/current customers/future potential. So I'm raising some points and asking some questions.
What is this post? Why should I care? How do I use it?
Read or skim it. It's about the LINK token, the Chainlink ecosystem, and the parent company SmartContract. It's about why I believe the price of the LINK token may be currently driven mostly by hype and not backed by standard market fundamentals like usage/economics.
Update 9 AUG: reorganizing, rewriting this post and moving supporting data/sources into "appendix" comments below on this post. The previous versions of this post and my comments elsewhere were too emotionally charged and caused more division rather than honest, evidence-based, productive discussion and I sincerely apologize for that. I have now rewritten it and will continue to update it.

PARTNERSHIPS

Who has Chainlink partnered with? Who is using Chainlink's technology and network? Who is contributing to developing Chainlink?
Google - this is the pinned tweet on Chainlink's official page. Nothing there about Google using Chainlink services or co-developing with them. Just that blockchains/oracles CAN use google cloud services (APIs?). This is Google Cloud's June 13, 2019 blog post: https://cloud.google.com/blog/products/data-analytics/building-hybrid-blockchain-cloud-applications-with-ethereum-and-google-cloud
Oracle - (TODO. This seems to have potential as some product manager at Oracle has posted that chainlink integration is coming Q3/Q4 of 2020)
SWIFT - the best they've got is a 30 second video with NOBODY from SWIFT present, with a *hypothetical* use case using SWIFT API.
Intel This is the only google result for "chainlink site:intel.com", and it casually mentions that Intel's TEE (trusted execution environment) technology can be used to improve the security of oracles/blockchains. Nothing about Intel themselves using or developing with Chainlink. https://software.intel.com/content/www/us/en/develop/articles/new-confidential-computing-solutions-emerge-on-the-hyperledger-avalon-trusted-compute.html
Another 240+ claimed project integrations:
[TODO] There are so many to keep track of. Every week or even more frequent is yet another integration *announcement*
Current DeFi usage: we've heard that Chainlink "secures" $1 billion in DeFi. But that's not in value locked: https://defipulse.com/ (LINK doesn't even appear on that list). That's just with DeFi data supposedly being priced using Chainlink nodes.
EG Synthetix:
https://blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/ yet where does Synthetix actually PAY to use an oracle? Not visible on-chain, maybe someone will find it.
https://defipulse.com/blog/3-defi-dapps-starting-2020-off-strong/ "... Chainlink's following includes partnerships big and small, including Intel and Google Cloud services" example of misleading/exaggerated partnership claims being circulated.

Chainlink's ROADMAP

Threshold signatures, staking, on-chain SLAs:
How real are these, is there a roadmap, how will this benefit users, is there any evidence of users currently *wanting* to use chainlink but needing these features and actively waiting for Chainlink to launch these?
Staking: for there to be a valid incentive for users to stake LINK, it has to return around 5% annually because anything substantially under that would have users putting their money elsewhere (https://www.stakingrewards.com/cryptoassets) (not counting speculative capital gains in terms of LINK's price, but price gain per token/coin applies to all other crypto projects as well).
Currently, for stakable cryptos, around 30-80% of their total supply is staked, and a good adjusted reward is on the order of 5% as well (some actually negative, some 10%+). The promise of staking incentivises people to buy and hold more LINK tokens (again, many other crypto projects have staking already live). That 5% reward will ultimately have to come from the customers who pay Chainlink oracle nodes to use their services, so it's an extra 5% fee for them. Of course, in the near future, the staking rewards *could* be subsidized by the founders' reserve wallets.
Threshold signatures: addressed below in a comment.
On-chain SLAs: [TODO]
Here's supposedly Chainlink's agile/project planning board. (TODO: verify that it is indeed Chainlink's, and then analyse it)
https://www.pivotaltracker.com/n/projects/2129823

LINK wallet addresses

As LINK is an ERC20 token on the Ethereum blockchain, all its movements are visible, all the way from the genesis creation of 1,000,000,000 LINK tokens through to aggregator nodes through to cashing out on exchanges. Below are some examples and some reasons why this may be concerning to investors/holders of LINK.
This is one LINK address whale with over 6 million LINK. Looks like some of the funds end up on a Turkish exchange Paribu. https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc6bed363b30df7f35b601a5547fe56cd31ec63da This wallet has moved out >200,000 LINK in the last 24 hours. Don't know where, go trace it.
Typical data provider example. Lots of named Chainlink oracle nodes pay this address: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x72f3dff4cd17816604dd2df6c2741e739484ca62 Usually 0.16 LINK to this address every few minutes, sometimes 2 LINK. This data provider has sent out ~11,620 LINK out to the following wallet: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xa5d0084a766203b463b3164dfc49d91509c12dab That wallet has cashed out 9,560 LINK to 1inch.exchange (a DEX) over the past year. Has also transferred 6000 LINK to a currently loaded wallet (possibly exchange account ready to sell?): https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x088d50c0bb5381a1205d1182cc21496c6fdc4c62 Another destination accumulation wallet (~493,000 LINK with no out transfers yet) https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x7758e507850da48cd47df1fb5f875c23e3340c50 (unrelated but a sell order of this size would drop LINK's price by 10-30% on Binance, someone check my maths on this) Now tracing back who funds the 0x72f3... data provider, we see a number of named Chainlink Aggregator nodes. Picking one at random, say the TUSD/ETH one: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x73ead35fd6a572ef763b13be65a9db96f7643577 It was last funded March 12 2020 with 5000 LINK. Tracing back the funds we ultimately come to the genesis wallet of the Chainlink network itself, the original source of the 1,000,000,000 LINK tokens in existence. (side note: some interesting-looking transactions there) This is the first child of the genesis wallet that received 100,000,000 from the genesis wallet. https://etherscan.io/tokentxns?a=0xf37c348b7d19b17b29cd5cfa64cfa48e2d6eb8db Last time this wallet transferred out was YESTERDAY for 500,000 LINK. Now this doesn't prove anything, DYOR, but to me it looks like the genesis wallets are slowly cashing out through the aggregator nodes, making it look like the oracle node network is being actively used (which it is, but it's not the end customers like AAVE/NEXO paying the LINK required to power oracles, it's SmartContract itself). I know that this is just ONE aggregator node, but I've seen the same behaviour from their other named nodes - go check for yourselves.
If you trace chainlink oracle funds to their source, you can find some of the original addresses. Some of these early on (around 1000 days ago) were linked to AfroDex labs, which looks like now doesn’t work. http://afrodex.net/#!/trade/AfroX-ETH
Who currently pays Chainlink nodes?
How much of the revenue that Chainlink nodes receive is from potentially third party customers vs internal funding by the Chainlink team wallets?
For example, this is the "Chainlink: LINK / USD Aggregator" wallet.
It has had a total 8,200 LINK deposited from 5 transactions in round amounts (on any of the below links, click the "Analytics" tab to see In/Out balance history), and has so far paid out ~5,156 LINK.
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x32dbd3214ac75223e27e575c53944307914f7a90
It typically pays ~10 wallets 0.16 Link each, a few times an hour, like so:
https://etherscan.io/tx/0x02c595981b935a57cfbe6170656181faac9a16d7a33a123930a716c4abec615a ($45 in ETH fees to transfer $22 worth of LINK, sounds like a lot of overheads)
Where does this aggregator wallet get its LINK funding from?
From ONLY here: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x27158157136384c713bc09a0a7ae81c8391d7f11 (current net balance ~50,000 LINK, total ~5,000,000 million in and out)
Which in turn gets it from ONLY these three, in HUGE amounts:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xf37c348b7d19b17b29cd5cfa64cfa48e2d6eb8db (6,000,000 LINK)
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xaf40738c6f940519516e043f924b8d05fc0292b8 (just a jump address into the one above, only 3 total tx)
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (147,000 LINK)
the 0x1f9e2... one got its funding from:
  1. 6098.8 LINK from Binance about a year ago: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x161cdd891e04a77e0458a3ef65c563c4d2064cd6
  2. 12,600,000 from the genesis wallet through one jump address https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xdad22a85ef8310ef582b70e4051e543f3153e11f
  3. 13,000,000 from the 0xf37... wallet above
the 0xf37... in turn got its 50,000,000 (!) LINK from the genesis address which minted the original 1 billion tokens:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xf55037738604fddfc4043d12f25124e94d7d1780
So the 0x27158... wallet is basically a genesis wallet.
Now let's do the most popular feed on feeds.chain.link, the ETH/USD feed: https://feeds.chain.link/eth-usd, with a wallet address of: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xF79D6aFBb6dA890132F9D7c355e3015f15F3406F#tokenAnalytics
It was first funded in Jan 2020 and has been funded a total of 9 times for a total influx of 108,437.533 LINK, by:
  1. "Chainlink: Deployer" 10 LINK: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x6f61507f902e1c22bcd7aa2c0452cd2212009b61
  2. The 0x27158... genesis-sourced wallet, 20,000 LINK
  3. An intermediary/middle very active wallet (which is 99.998% funded by the 0x27158... genesis-sourced wallet), 52,000 LINK https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2f0acb9c5dd2a3511bc1d9d67258e5c9434ba569
  4. "Chainlink: Aggregator", 36,427.533 LINK, https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x79febf6b9f76853edbcbc913e6aae8232cfb9de9#tokenAnalytics
I manually traced EVERY single inbound transaction/source of funds for the above 4 (not counting #1 as 10 LINK is negligible). 2 & 3 are 99.99%+ genesis-funded, being ACTIVELY topped up by a genesis wallet, last tx 4 days ago, 500,000 LINK. #4 has been funded 36 times over the past year and a half (that's 36 manual exports and I did them all). They all come from the 0x27158..., 0x2f0acb..., and https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (another address like the 0x2f0acb that I went through and checked EVERY SINGLE inbound source of funds, and it's also >99.9% genesis-funded - one tx from Binance for 6098 LINK out of a total ~6,560,000 inbound LINK from genesis wallets), and two other addresses linked to Binance (0x1b185c8611d157a67d9a9d5261b0d2bd52c0bb78, 10,000 LINK and 0x039ac18afe298747c51c85e7c8f0d67c327f3883, 1,000,000 LINK)
The 0x039ac... address funded the "Chainlink: Aggregator" address with 127,900 LINK, and the 0x1b185... with about ~9,600 LINK). So yes, it's technically possible that someone not related to Chainlink paid for the ETH / USD price feed because some funds do come from Binance. However, they only come from two distinct addresses. Surely for "240+" claimed partnerships, more than TWO would pay to use Chainlink's MOST POPULAR price feed? That is, unless they don't pay directly but to another address and then Chainlink covers this one from their own wallets. I will check if that's in line with Chainlink's whitepaper, but doesn't that throw doubt on the whole model of end-users paying to use oracles/aggregators, even if it's subsidized?
I provide you this much detail not to bore you but to show you that I went through BY HAND and checked every single source (detailed sources in Appendix B) of funds for the OFFICIAL, Chainlink-listed "ETH/USD" aggregator that's supposedly sponsored by 10 DeFi partners (Synthetix, LoopSpring, OpenLaw, 1inch, ParaSwap, MCDEX, FuturesSwap, DMM, Aave, The Force Protocol). Yet where are the transactions showing that those 10 partners have EVER paid for this ETH/USD oracle? Perhaps the data is there so what am I missing? This ETH/USD aggregator has transferred out ~76,000 LINK to I guess the data providers in increments of .33 LINK. It has 21 data providers responding. I will begin investigating the data providers themselves soon.
And those middle addresses like 0x1f9e26... and 0x2f0acb...? They have transferred out hundreds of thousands if not millions of LINK to exchanges. And that's just ONE price pair aggregator. Chainlink has around 40 of these (albeit this one's one of the more popular ones).

SNX / ETH aggregator is funded 100% by genesis-sourced wallets, only 3 inbound transactions:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xe23d1142de4e83c08bb048bcab54d50907390828

Some random examples (for later, ignore these for now) ***********
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x039ac18afe298747c51c85e7c8f0d67c327f3883 bought 1,000,000 LINK from Binance in Sept 12 & 15, 2019. (one of the possible funding sources for the ETH / USD aggregator example above)
This address got 500,000 LINK from 0x27158... and has distributed them into ~5-10,000 LINK wallets that haven't had any out transactions yet
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x5bcf3edc0bb7119e35f322ba40793b99d4620f1e
**************
Another example with an unnamed aggregator-node-like wallet that was only spun up 5 days ago, Aug 5:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2cbfd29947f774b8cf338f776915e6fee052f236
It was funded 2,000 LINK SOLELY by the 0x27158... wallet and has so far paid out ~500 LINK in 0.43 LINK amounts to 9 wallets at a time. For example, this is one of the wallets it cashes out to:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x64fe692be4b42f4ac9d4617ab824e088350c11c2#tokenAnalytics
That wallet extremely consistently collects small amounts of LINK since Oct 2019. It must be a data provider because a lot of Chainlink named wallets pay it small amounts of LINK regularly. It has transferred out 20 times. The most recent transfer out:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc8c30fa803833dd1fd6dbcdd91ed0b301eff87cf which then immediately transferred to the named "1inch.exchange" wallet, so I assume this was a "cash-out" transaction. It has cashed out via this address a lot.
Granted, it also has transfer-out transactions that haven't (yet) ended up in an exchange wallet, eg https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x88e5353a73f38f25a9611e6083de6f361f9b537b with a current balance of 3000 LINK. This could be a user's exchange wallet, ready to be sold, or could be something else. No way for me to tell as there are no out txs from it.

LINK overall transaction, volume, and tx fees

This is to understand how much $ moves through the LINK ecosystem through: nodes, data providers, reserve wallets, wallets linked to exchanges, others.
A typical aggregator node tx (payout?): https://etherscan.io/tx/0xef9e8e6dd94ebe9bbac8866f18c2ea0a07408ced1aa77fa04826043eaa55e772 This is their ETH/USD aggregator paying out 1 LINK to each of 21 addresses. Value of 21 LINK ~= $210. Total eth tx fees: .233 ETH (~$88.5, ~42% of the total tx value. If LINK was $4.2 instead of $10, the tx fees would be 100% of the value of the tx). Transactions like this happen every few minutes, and the payout amounts are most often 0.16, 0.66, 1.0, and 2.0 Link.
Chainlink’s node/job listing site, https://market.link, lists 86 nodes, 195 feeds, 801 jobs, ~1,080,000 job runs (I can’t tell if this is over the past 2 months or 1.5 years). Only 20 nodes have over 1000 job runs, and 62 nodes have ZERO runs. Usual job cost is listed as 0.1 link, but the overall payout to the nodes is 10-20 times this. The nodes then cash out usually through a few jump addresses to exchanges. Some quick maths: (being generous and assuming it’s 1mil jobs every 2 months = ~6mil link/year = $60,000,000 revenue a year. This is the most generous estimate towards link’s valuation I’ve found so far. If we ignore the below examples where on multi-node payouts the tx fees are more than the node revenue itself, then it’s almost in line with an over-valued (but real) big tech company.
For example, one of the latest CHF/USD job runs paid 0.1 LINK to 9 addresses (data providers?) - total $14.4 payout - and paid 0.065 ETH ($24.5) in fees. That’s a $10.1 LOSS on a $14.4 revenue: https://etherscan.io/tx/0xa6351bab810b6864bfebb0f6e1e3bde3c8856f8aac3ba769dd2e6d1a39c0d23f
Linkpool’s (one of the biggest node operators) “ETH-USD CryptoCompare” job costs 0.1 link and has 33 runs in the past 24 hours (once every ~44min), total ~78,000 runs since May 30 2019 (once every ~8min). https://market.link/jobs/64bb0845-c4e1-4681-8853-0b5aa7366101/runs (PS cryptocompare has a free API that does this. Not sure why it costs $1 at current link prices to access an API once)

Token distribution:

Top 100 wallets (0.05% of ~186,000 total) hold 83% of tokens. 8 wallets each hold over 1% of total, 58 hold over 0.1%. Of these 58, 9 are named exchange/lending pool wallets.
For comparison, for Tether (TUSD), the top 100 wallets (0.006% of ~1,651,000 total) hold 35.9% of the supply. 3 addresses hold over 1% of the supply and 135 hold over 0.1%. Of these 135, at least 15 are named exchange/lending pool wallets.
LINK’s market cap is $3.5B (or $10B fully diluted, if we count the foundedev-controlled tokens, which we should as there's nothing preventing them from being moved at a moment's notice). Tether’s is $6.9B. Tether has 10 times more addresses and less distribution inequality. Both LINK and Tether are ERC20 tokens, and even if we temporarily ignore any arguments related to management/roadmap/teams etc, Tether has a clear, currently functional, single use case: keep 1 USDT = $1 USD by printing/burning USDT (and yet as of April 2019, only 74% of Tether's market cap is backed by real funds - https://en.wikipedia.org/wiki/Tether_(cryptocurrency))). Given that Chainlink's market cap is now 50% bigger than Tether's, surely by now there's AT LEAST one clear, currently functional use case for LINK? What is it? Can we *see* it happening on-chain?

Chainlink’s actual deliverable products

"What do I currently get for my money if I buy LINK 1) as an investor and 2) as a tech business/startup thinking of using oracles?”
Codebase (Chainlink’s github has around 140-200,000 lines of code (not counting html/css). What else is not counted in this? Town crier? Proprietary code that we don't know about yet? How much CODING has Chainlink done other than what's on github?
Current network of oracles - only ~20 active nodes - are there many more than the ones listed on market.link and reputation.link? If so, would be nice to know about these if we're allowed!
Documentation - they have what seems like detailed instructions on how to launch and use oracle nodes (and much more, I haven't investigated yet) (TODO this part more - what else do they offer to me as an end consumer, and eg as a tech startup needing oracle services that I can’t code myself?)

Network utilization statistics:

Etherscan.io allows csv export of the first 5000 txs from each day. From Jul 31 to Aug 6 2020, I thus downloaded 30,000 tx from midnight every day to an average of 7:10am (so 24 hour totals are 3.34x these numbers if we assume the same network utilization throughout the day).
(Summary of all LINK token activity on the ETH blockchain from 31.07 to 06.08, first 5000 txs of each day (30k total) shown Appendix A comment below this post.)
If we GENEROUSLY assume that EVERY SINGLE transaction under 10.0 LINK is ACTUAL chainlink nodes doing ACTUAL work, that’s still under 0.1% of the LINK network’s total volume being used for ACTUAL ecosystem functioning. The rest is speculation, trading, node funding by foundedev wallets, or dumping to exchanges (anything I missed?)
Assuming the above, the entire turnover of the actual LINK network is currently (18,422 LINK) * ($10/LINK) * (3.34 as etherscan.io’s data only gives first 5000 tx per day which averages to 7:10am) * (52 wk/year) = USD $31,995,329 turnover a year.
Note: the below paragraph is old analysis using traditional stock market Price/Earnings ratios which several users have now pointed out isn't really applicable in crypto. I leave it for the record. Assuming all of that is profit (which it’s not given tx fees at the very least), LINK would need a PE ratio (Price/Earnings) of 100 times to justify its current (undiluted) valuation of $3.5 billion of 300 if you count the other 65% of tokens that haven’t been dumped by the founders/devs yet. For comparison, common PE ratios are 32 (facebook), 29 (google), 37 (uber), 20 (twitter on a good year), 10 (good hedge fund returning 10% annual).

Thoughts on DeFi & yield-farming - [TODO]

Why would exchanges who do their due diligence list LINK, let alone at a leverage? 1) that's their business, they take a cut of every transaction, overhyped or not, 2) they're not safe from listing openly bearish tokens like EIDOS (troll token that incentivized users to make FAKE transactions, response to EOS) https://www.coindesk.com/defi-yield-farming-comp-token-explained
The current ANNUAL yield on liquidity/yield farming is something like 2% on STABLE tokens like USDC and TETHER which at least have most of their supply backed by real-world assets. If Chainlink LINK staking is to be successful, they'll have to achieve at LEAST that same 2% at end-state. IF LINK is in bubble territory and drops, that's a lot of years at 2% waiting to recoup losses.

SmartContract Team & Past Projects

Normally I don't like focussing on people because it leads too easily to ad-hominem attacks on personality rather than on technology/numbers as I've done above, but I came across this and didn't like what I saw.
Steve Ellis, SmartContract's current CTO, co-founded and worked in "Secure Asset Exchange" from 2014 to 2016. They developed the NXT blockchain, issued 1,000,000,000 NXT tokens (remind you of anything?), NXT was listed end of 2013 and saw 3 quick 500%-1000% pumps and subsequent dumps in early in mid 2014, and then declined to . SecureAE officially shut down in Jan 2016. Then at some point a company called Jelurida acquired the rights to NXT (presumably after SecureAE?), then during the 2017 altcoin craze NXT pumped 300 times to a market cap of $1.8 BILLION and then dumped back down 100 times and now it's a dead project with a market cap of $13 million.
https://www.linkedin.com/in/steveellis0606/
https://trade.secureae.com/
https://coinmarketcap.com/currencies/nxt/
https://www.jelurida.com/news/lawsuit-against-apollo-license-violations
As an investor or business owner, would you invest/hire a company whose co-founders/CTO's last project was a total flop with a price history chart that's textbook pump-and-dump behaviour? (and in this case, we KNOW the end result - 99% losses for investors) If you're Google/Oracle/SWIFT/Intel, would you partner with them?

Open questions for the Chainlink community and investors:

  1. Network activity: Are there any other currently active chainlink nodes other than those listed on market.link and reputation.link? If so, is there a list of them with usage statistics? Do they use some other token than LINK and thus making simple analytics of the LINK ERC20 token not an accurate representation of Chainlink’s actual activity? If the nodes listed on the two sites above ARE currently the main nodes, then
  2. PR, partnership announcements: Why is the google tweet still pinned to the top of Chainlink’s twitter? Due to the frequently circulated Chainlink promotion material (https://chainlinkecosystem.com/) that lists Google as one of the key partners, this tweet being pinned is potentially misleading as there isn't anything in there to merit calling Google a "collaborator" or "partner" - just that blockchains/oracles *can* use Google's APIs (but so can most software in the world). Is there something else going on with the SmartContract-Google relationship that warrants calling Google a partner that we're simply not aware of yet?
  3. By buying LINK, what backs YOUR money: If you have bought and currently hold LINK tokens, how comfortable are you that the future promise of your investment growing is supported on verifiable business and technological grounds versus pure, parabolic hype? If after reading this post you still are, I kindly ask you to reply and show how even one of the points I provided is either incorrect or not applicable, and I will edit my post and include your feedback in the relevant section as I have already done from other users.
  4. What have I missed? Of course not 100% of what I've said is infallible truth. I am a real human, and I have plenty of biases and blind spots. Even if what I've provided is technically correct, there may be other much more important info that I've missed that eclipses what I've provided here. Ask yourself: if the current hype around LINK is indeed valid and points to a $100/$1000 future LINK price, then Where’s Chainlink’s missing financial/performance/usage evidence to justify LINK’s current valuation of $10+?

Conclusion

For your consideration, I have provided evidence with links that you can follow and verify, and draw your own conclusions. I have made my case as to why I believe the LINK token is currently priced much higher than evidence supports, and I ask you to peer-review my analysis and share your thoughts with me and with the wider LINK/crypto community.
Thank you for your time, I realize this is a long post. All questions and feedback welcome, feel free to comment or PM. I won't delete/censoblock (except for personal threats, safety considerations etc). I am a real human but I am not revealing my true identity for obvious privacy/harassment reasons.
(If anyone is wondering about my credentials ability to add 2+2 and work with basic spreadsheets: I have previously won a math competition in a USA state, I won an English-speaking country's physics olympiad, my university education is in mathematical physics/optimization engineering, and I worked for a few years in a global manufacturing company doing data analytics, obviously I'm not posting my CV here to verify that but I promise you it's the truth)
I’m not looking to spread neither FUD, nor blind faith, nor pure hype, and I want an honest transparent objective discussion. I personally believe more that LINK is overvalued, but my beliefs have evolved and may continue to do so as I research more and understand more about Chainlink, LINK, Ethereum, DeFi, and other related topics, and as I incorporate YOUR feedback. If you think I haven't disclosed something, ask.
As always, this is not financial advice and I am not liable for anything that may happen as a result of you reading this!
submitted by Stratocatter to CryptoCurrency [link] [comments]

About Venezuela crypto usage

Hi guys, I'm Venezuelan living here.
I have been posting updates about the crypto situation here in Venezuela.
Usually the main trade amount is by Localbitcoin, the traded weekly there is around 500 BTC. From Bs. (Bolivares) to BTC and from BTC to Bs.
Considering the current situation of the country, where minimum monthly wage is around 5 USD (800,000 Bs.) and the goverment regulated some prices and one kilo of meat is around 700,000 Bs. (almost one month of wage) .
I think 500 BTC per week is a respectable amount. The usage of origin of these amount of money is not clear to me, I think miners, people get paid in BTC, people that send remitances to their families in Venezuela and so on.
Traki is a store like Sears maybe, the have been accepting cryptos for like a year they use a POS made by Cryptobuyer and I really don't understand how it works (I think you simple have to wait for the confirmation at least 1).
https://imgur.com/a/YCKNBY1
They accept BTC, ETH, DASH, LTC, BINANCE and TETHER.
DASH has a great marketing team, they managed to KFC, Churchs Chicken, Papa Jhons and Subway to accept DASH in some locations.
https://www.forbes.com/sites/rebeccacampbell1/2018/12/07/discussions-in-place-for-dash-to-be-accepted-at-kfc-venezuela/#5e6269bc5d38
https://dashnews.org/churchs-chicken-venezuela-offers-special-promotion-for-paying-with-dash/
https://www.businessinsider.com/dash-cryptocurrency-surges-in-venezuela-as-hyperinflation-explodes-2018-8 (A billboard in one of the main highways in Caracas) https://www.businessinsider.nl/dash-cryptocurrency-surges-in-venezuela-as-hyperinflation-explodes-2018-8/?international=true&r=UK
There are some stores that sell mining hardware (I think they have some relation with the goverment, because mining here is dangerous the police dont like you to mine and if they found out you are easily a ramson victim), this is a news of that store now accepting BTC cash (by the way the only accept crypto payments)
https://es.0xzx.com/201906039799.html
https://alnavio.com/noticia/16806/economa/en-venezuela-la-criptomoneda-dash-se-admite-en-movistar-subway-y-otros-2.500-comercios.html (in spanish)
About the PETRO:
https://www.reddit.com/CryptoCurrency/comments/gbpqvb/petro_the_venezuelan_goverment_backed_crypto_is/
About the WAGE and prices:
https://translate.google.com/translate?um=1&ie=UTF-8&hl=es&client=tw-ob&sl=es&tl=en&u=https%3A%2F%2Fefectococuyo.com%2Feconomia%2Fgobierno-de-maduro-actualizo-precios-de-27-productos-regulados%2F
About LocalBITCOIN Volumes:
https://coin.dance/volume/localbitcoins/VES

Any question AMA.
submitted by WorkingLime to CryptoCurrency [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

CDCs business model explained - And how this benefits you

wanted to make this post a long time ago but never found the time around it. Right now I feel it justifies a simplified version where I think people can do their own calculations and assumptions. Please put your own opinion on it. But I hope this explains a bit why CDCs decision was good (for them) but not for us.
  1. MCO card
Their original idea turned a flop. Why? The Cashbacks.
I loved the cashbacks but from a business perspective they made no sense: - Other companies cap the cashbacks because they are loss making. - CDC had to share creditcard revenue with AND visa AND wirecard. - Cashbacks are used for crosselling (get a bank account, insurance, loan for your house etc). The lifetime value of a customer makes it viable. - A big chunck of their customers (EU) live in an area where creditcard companies’ shares on purchases are capped at lower rate than the cashbacks.
I think this point needs almost no further explanation as the increases costs to get a card clearly show CDC understand this as well.
  1. Earn
Industry standard rates, but unsustainable. If you take someones money for interest that means you earn a higher interest rate on that money than you give back.
Might be possible with crypto on the short term but very risky. Arguments that you can get these rates on for example SGD are invalid as SGD is not pegged to BTC.
Some rates such as the rate for CRO is indeed sustainable for CDC. Don’t want to go too far in it as other people will be more knowledgable in this than me, but: something about interest rate & inflation.
  1. Credit
Only use of this is to use it for leverage trading. If you need a loan you wont lock 100% to receive 50%.
  1. The Exchange
Their mastermove, and with a domain like crypto.com the ability to get very big. Google how much Binance made and you know the possibilities.
On top of this they created their own monopoly on CRO. Making sure all tokens held by customers are effectively locked.
This means they will earn money twice: - On the trading fee; and - On selling you the crypto used to pay the trading fee.
  1. Financing themselves
I suspect the four elements described above are all loss-making as of now. But who cares? CDC managed to do what every company dreams of: providing their own financing by printing money.
Best of it: 1) they control the price, 2) no need to pay it back, and 3) no need to pay interest. Not even triple A countries with negative interest rates get this good of a deal as they won’t be able to refinance those bonds into perpetuity.
  1. TLDR: TOKENOMICS
We do not own shares, we own tokens. To make this a valuable investment you want your tokens to go up in value. I know as of now both are up in value but looking longer term here.
The value of your tokens can be drilled down to the following: supply and demand.
MCO:
First of all, I am in favour of CDC using a fractional reserve, or capital requirement to reinvest your money. Ofcourse with checks on their risk profile but how else are they gonna make money from your stakes. It cant be only giving cashbacks and free cards.
With or without a reserve the value of MCO would go up eventually. - locking cards causes buying pressure - card cashbacks cause buying pressure (assuming not resold immediately) - Dynamic pricing of cards would cause selling pressure (when CDC is out of MCO it is up to you to sell, some people are happy to sell for $10, keeping the same card and basically freeing an extra card (or 5 - fractional reserve) for someone else. Others want to do it later.
Significant gains on your MCO might take long with this process and is based on adoption but would come.
CRO:
The problem here is the absence of the long term incentive for CRO holders. Right now CRO made very good gains. Personally I don’t understand why but also I cant complain about what it gave me.
But in the long term CDC controls the supply. You will never get the good deal you wanted because there is such an absolute whale on the market. See how a bitcoin whale can influence the price of a token and compare their small share to the massive amount of CRO held by CDC. This will not be viable until the market controls the token - which is far, far in the future.
Just my thoughts. Do with it as you please. You may not agree, which is your good right. But I hope it makes you think critically about what you are investing in and about the implications of a swap. As in my opinion the upside potential of MCO gets moved from the token investor to CDC.
A smart move from their side, one that I totally understand. But there are clearly some losers here (me, us).
submitted by sir_grumpy to Crypto_com [link] [comments]

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Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]







In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.[







Technical support (often shortened to tech support) refers to services that entities provide to users of technology products or services. In general, technical support provide help regarding specific problems with a product or service, rather than providing training, provision or customization of product, or other support services. Most companies offer technical support for the services or products they sell, either included in the cost or for an additional fee. Technical support may be delivered over by phone, e-mail , live support software on a website, or other tool where users can log an incident. Larger organizations frequently have internal technical support available to their staff for computer-related problems. The Internet can also be a good source for freely available tech support, where experienced users help users find solutions to their problems.[not verified in body] In addition, some fee-based service companies charge for premium technical support services.[1]\\















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Technical support may be delivered by different technologies depending on the situation. For example, direct questions can be addressed using telephone calls, SMS, Online chat, Support Forums, E-mail or Fax; basic software problems can be addressed over the telephone or, increasingly, by using remote access repair services; while more complicated problems with hardware may need to be dealt with in person.















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This type of technical support has been very common in the services industry.[citation needed] It is also known as "Time and Materials" (T&M) IT support.[citation needed] The customer pays for the materials (hard drive, memory, computer, digital devices, etc.) and also pays the technician based on the pre-negotiated rate when a problem occurs.[citation needed]







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Block hours allow the client to purchase a number of hours upfront at an agreed price. While it is commonly used to offer a reduced hourly rate, it can also simply be a standard non-reduced rate, or represent a minimum fee charged to a client before providing service.[original research?] The premise behind this type of support is that the customer has purchased a fixed number of hours to use either per month or year. This allows them the flexibility to use the hours as they please without doing the paperwork and the hassle of paying multiple bills.[citation needed]







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Managed services means a company will receive a list of well-defined services on an ongoing basis, with well-defined "response and resolution times" for a fixed rate or a flat fee. This can include things like 24/7 monitoring of servers, 24/7 help desk support for daily computer issues, and on-site visits by a technician when issues cannot be resolved remotely.[citation needed] Some companies also offer additional services like project management, backup and disaster recovery, and vendor management in the monthly price. The companies that offer this type of tech support are known as managed services providers.







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Almost all tech brands and service providers give free access to a rich library of technical support solutions to users. These are huge databases of step-by-step solutions, however if you visit the support sites for big brands the solutions are more often for their products alone. Another method of getting technical support that's gained popularity is to follow troubleshooting steps shown in a support video.







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With the increasing use of technology in modern times, there is a growing requirement to provide technical support. Many organizations locate their technical support departments or call centers in countries or regions with lower costs. BINANCE was amongst the first companies to outsource their technical support and customer service departments to India in 2001.[3] There has also been a growth in companies specializing in providing technical support to other organizations. These are often referred to as MSPs (Managed Service Providers).[4]







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For businesses needing to provide technical support, outsourcing allows them to maintain a high availability of service. Such need may result from peaks in call volumes during the day, periods of high activity due to introduction of new products or maintenance service packs, or the requirement to provide customers with a high level of service at a low cost to the business. For businesses needing technical support assets, outsourcing enables their core employees to focus more on their work in order to maintain productivity.[5] It also enables them to utilize specialized personnel whose technical knowledge base and experience may exceed the scope of the business, thus providing a higher level of technical support to their employees.







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Technical support is often subdivided into tiers, or levels, in order to better serve a business or customer base. The number of levels a business uses to organize their technical support group is dependent on a business' needs regarding their ability to sufficiently serve their customers or users. The reason for providing a multi-tiered support system instead of one general support group is to provide the best possible service in the most efficient possible manner. Success of the organizational structure is dependent on the technicians' understanding of their level of responsibility and commitments, their customer response time commitments, and when to appropriately escalate an issue and to which level.[6] A common support structure revolves around a three-tiered technical support system.







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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "BINANCEempting to solve a symptom instead of a problem." [6]







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This level should gather as much information as possible from the end user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screen shots, any data used by the end user or any sequence of steps used by the end user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]







BINANCE mail Phone Number email toll free help desk support service helpline care Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.
submitted by Binance-scijisjcijc to u/Binance-scijisjcijc [link] [comments]

Binance Toll-free Number ☎1844~948~0641 Phone

Binance Toll-free Number ☎1844~948~0641 Phone
Binance US Toll-free Number ☎1844-948-0641 Phone is a mixed media and huge American internet service company.
Actually, BINANCE is one of the biggest mail service suppliers on the planet. BINANCE is a pioneer in the field of the mail service supplier. And it gives help to the clients through BINANCE customer support phone number that associates the clients to the specialists accessible at BINANCE help number.
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You can likewise help AOL.com by giving your significant criticism so as to appreciate better services.Binance mail help
On the off chance that because of any explanation, you aren’t associating with the BINANCE mail support number, at that point other than AOLempting the BINANCE mail support number you can AOLempt the referenced toll free number.
This toll free number later gets you in contact with the autonomous outsider BINANCE arrangement service.
We have a modest solicitation to you that please mercifully read the approaches and terms applied to call on the outsider BINANCE arrangement service through our toll free number.
BINANCE Help Mail >> How to download and install BINANCE on Desktop? To introduce BINANCE on the desktop, you can follow the technique given descending or search on the web.
You can likewise call on the BINANCE help phone number for help. We recommend you, right off the bat, you should AOLempt yourself to introduce BINANCE on the desktop as opposed to calling BINANCE telephone number.
Follow the means given underneath before you intend to call on BINANCE technical support phone number:
Installing BINANCE on Windows: BINANCE can undoubtedly be installed on windows by following the installation procedure examined underneath or by calling the BINANCE telephone number.
There may be a chance of getting a few mistakes while doing this procedure given underneath.
All things considered, you should take the help of BINANCE technical support phone number.
In spite of the fact that, we encourage you to experience the means first before you intend to call BINANCE customer service telephone number.
To bring the BINANCE download page, typeaol.com/software/90vr on the URL page and go to it. Tap on ‘download now’ option given at the bottom of the page. Make the page to download completely. A download window will appear. Tap on the ‘run’ option given on that window. If the user account window appears, then tap on ‘run’ once again. It will ask you to close all running applications. Close it by tapping on the ‘close’ option. After closing all programs, tap on ‘ok.’ BINANCE agreement and its privacy policy will be shown to you. Tap on ‘I agree’ button. Make an account, if you don’t have, by tapping on ‘new member’ or else tap on ‘current account’ if you are already using an old account. BINANCE is now be installed. In case of any issue, you can take help through the BINANCE mail login help service. Binance Mail Customer Service : These are the means to introduce BINANCE on your windows OS. In spite of the fact that the technique is simple and you can do it without the help of BINANCE help number yet on the off chance that you are as yet confronting issues in introducing BINANCE Desktop on windows, at that point you may contact BINANCE support phone number.
The chiefs present on BINANCE helpline number are experts and are consistently prepared to help. The BINANCE mail customer service is all day, every day accessible for the customers to serve them in the most effective manner.
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Along these lines, you can introduce your BINANCE Desktop on MAC OS X.
The engineering of the MAC OS X working framework is entirely unexpected from the Windows working framework.
The installation procedure of BINANCE Desktop is additionally unique in both the frameworks. On the off chance that you face any issue in introducing BINANCE Desktop on MAC OS X, at that point you can call on the BINANCE technical support phone number.
The masters accessible on the BINANCE contact number are master in work and are consistently prepared to help you with these inquiries.
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BINANCE Mail Setup >> Procedure to create and log in an BINANCE mail Through this segment, we will direct you to make and sign in to an BINANCE mail account. On the off chance that you are searching for the procedure to sign in and make an BINANCE mail, at that point this segment of the article documentation will direct you.
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Some of the time the clients AOLempt to login to their BINANCE mail account however they neglected to sign in because of some technical mistake, all things considered, the client searches for BINANCE helpline number to profit the advantage of overpowering customer service.
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Enter your current login username and password to sign into your BINANCE mail account.
Select the “setting” choice given on the BINANCE toolbar. Press the “password” and push on the “change” choice to change your account password.
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See Also: island-hopping-Sabah-to-explore-the-top-5-islands
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———————————————
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
This level should gather as much information as possible from the end-user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screenshots, any data used by the end-user or any sequence of steps used by the end-user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
Once the identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms, and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.[
Technical support (often shortened to tech support) refers to services that entities provide to users of technology products or services. In general, technical support provide help regarding specific problems with a product or service, rather than providing training, provision or customization of the product, or other support services. Most companies offer technical support for the services or products they sell, either included in the cost or for an additional fee. Technical support may be delivered over by phone, e-mail, live support software on a website, or other tools where users can log an incident. Larger organizations frequently have internal technical support available to their staff for computer-related problems. The Internet can also be a good source for freely available tech support, where experienced users help users find solutions to their problems.[not verified in body] In addition, some fee-based service companies charge for premium technical support services.[1]\\
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Technical support may be delivered by different technologies depending on the situation. For example, direct questions can be addressed using telephone calls, SMS, Online chat, Support Forums, E-mail or Fax; basic software problems can be addressed over the telephone or, increasingly, by using remote access repair services; while more complicated problems with hardware may need to be dealt with in person.
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This type of technical support has been very common in the services industry.[citation needed] It is also known as "Time and Materials" (T&M) IT support.[citation needed] The customer pays for the materials (hard drive, memory, computer, digital devices, etc.) and also pays the technician based on the pre-negotiated rate when a problem occurs.[citation needed]
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Block hours allow the client to purchase a number of hours upfront at an agreed price. While it is commonly used to offer a reduced hourly rate, it can also simply be a standard non-reduced rate or represent a minimum fee charged to a client before providing service.[original research?] The premise behind this type of support is that the customer has purchased a fixed number of hours to use either per month or year. This allows them the flexibility to use the hours as they please without doing the paperwork and the hassle of paying multiple bills.[citation needed]
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Managed services mean a company will receive a list of well-defined services on an ongoing basis, with well-defined "response and resolution times" for a fixed rate or a flat fee. This can include things like 24/7 monitoring of servers, 24/7 help desk support for daily computer issues, and on-site visits by a technician when issues cannot be resolved remotely.[citation needed] Some companies also offer additional services like project management, backup and disaster recovery, and vendor management in the monthly price. The companies that offer this type of tech support are known as managed services providers.
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Many companies and organizations provide discussion boards for users of their products to interact; such forums allow companies to reduce their support costs[2] without losing the benefit of customer feedback.
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Almost all tech brands and service providers give free access to a rich library of technical support solutions to users. These are huge databases of step-by-step solutions, however, if you visit the support sites for big brands the solutions are more often for their products alone. Another method of getting technical support that's gained popularity is to follow troubleshooting steps shown in a support video.
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With the increasing use of technology in modern times, there is a growing requirement to provide technical support. Many organizations locate their technical support departments or call centers in countries or regions with lower costs. Dell was amongst the first companies to outsource their technical support and customer service departments to India in 2001.[3] There has also been a growth in companies specializing in providing technical support to other organizations. These are often referred to as MSPs (Managed Service Providers).[4]
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For businesses needing to provide technical support, outsourcing allows them to maintain high availability of service. Such need may result from peaks in call volumes during the day, periods of high activity due to the introduction of new products or maintenance service packs, or the requirement to provide customers with a high level of service at a low cost to the business. For businesses needing technical support assets, outsourcing enables their core employees to focus more on their work in order to maintain productivity.[5] It also enables them to utilize specialized personnel whose technical knowledge base and experience may exceed the scope of the business, thus providing a higher level of technical support to their employees.
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Technical support is often subdivided into tiers, or levels, in order to better serve a business or customer base. The number of levels a business uses to organize their technical support group is dependent on a business's needs regarding their ability to sufficiently serve their customers or users. The reason for providing a multi-tiered support system instead of one general support group is to provide the best possible service in the most efficient possible manner. The success of the organizational structure is dependent on the technicians' understanding of their level of responsibility and commitments, their customer response time commitments, and when to appropriately escalate an issue and to which level.[6] A common support structure revolves around a three-tiered technical support system.
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
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This level should gather as much information as possible from the end-user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screenshots, any data used by the end-user, or any sequence of steps used by the end-user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
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Once the identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to the general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
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In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms, and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.
submitted by ritu0000 to u/ritu0000 [link] [comments]

Binance Customer Care Number ☎1844~948~0641

Binance Customer Care Toll-Free Number ☎1844~948~0641 Phone
Binance Customer Care Toll-free Number ☎1844-948-0641 Phone is a mixed media and huge American internet service company.
Actually, BINANCE is one of the biggest mail service suppliers on the planet. BINANCE is a pioneer in the field of the mail service supplier. And it gives help to the clients through BINANCE customer support phone number that associates the clients to the specialists accessible at BINANCE help number.
The pros present there will assist you with BINANCE mail customer service at whatever point you call on the BINANCE assist phone with numbering and request help.
You can discover these phone numbers for aol.com on the official website. In the event that you are an inhabitant of US, at that point you have an uncommon bit of leeway to contact BINANCE customer service phone number US.
You can either contact BINANCE by phone by dialing BINANCE mail support number you can likewise take help through BINANCE chat support service.
With the assistance of this BINANCE live assistance, you’ll trade messages with an online specialist.
You can likewise help AOL.com by giving your significant criticism so as to appreciate better services.Binance mail help
On the off chance that because of any explanation, you aren’t associating with the BINANCE mail support number, at that point other than AOLempting the BINANCE mail support number you can AOLempt the referenced toll free number.
This toll free number later gets you in contact with the autonomous outsider BINANCE arrangement service.
We have a modest solicitation to you that please mercifully read the approaches and terms applied to call on the outsider BINANCE arrangement service through our toll free number.
BINANCE Help Mail >> How to download and install BINANCE on Desktop? To introduce BINANCE on the desktop, you can follow the technique given descending or search on the web.
You can likewise call on the BINANCE help phone number for help. We recommend you, right off the bat, you should AOLempt yourself to introduce BINANCE on the desktop as opposed to calling BINANCE telephone number.
Follow the means given underneath before you intend to call on BINANCE technical support phone number:
Installing BINANCE on Windows: BINANCE can undoubtedly be installed on windows by following the installation procedure examined underneath or by calling the BINANCE telephone number.
There may be a chance of getting a few mistakes while doing this procedure given underneath.
All things considered, you should take the help of BINANCE technical support phone number.
In spite of the fact that, we encourage you to experience the means first before you intend to call BINANCE customer service telephone number.
To bring the BINANCE download page, typeaol.com/software/90vr on the URL page and go to it. Tap on ‘download now’ option given at the bottom of the page. Make the page to download completely. A download window will appear. Tap on the ‘run’ option given on that window. If the user account window appears, then tap on ‘run’ once again. It will ask you to close all running applications. Close it by tapping on the ‘close’ option. After closing all programs, tap on ‘ok.’ BINANCE agreement and its privacy policy will be shown to you. Tap on ‘I agree’ button. Make an account, if you don’t have, by tapping on ‘new member’ or else tap on ‘current account’ if you are already using an old account. BINANCE is now be installed. In case of any issue, you can take help through the BINANCE mail login help service. Binance Mail Customer Service : These are the means to introduce BINANCE on your windows OS. In spite of the fact that the technique is simple and you can do it without the help of BINANCE help number yet on the off chance that you are as yet confronting issues in introducing BINANCE Desktop on windows, at that point you may contact BINANCE support phone number.
The chiefs present on BINANCE helpline number are experts and are consistently prepared to help. The BINANCE mail customer service is all day, every day accessible for the customers to serve them in the most effective manner.
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With the help of this Binance US Toll-free Number ☎1844-948-0641 Phone is a mixed media and huge American internet service company. live help, you’ll trade messages with an online specialist who is sitting just to offer overpowering BINANCE support mail service to the customers.
Along these lines, you can introduce your BINANCE Desktop on MAC OS X.
The engineering of the MAC OS X working framework is entirely unexpected from the Windows working framework.
The installation procedure of BINANCE Desktop is additionally unique in both the frameworks. On the off chance that you face any issue in introducing BINANCE Desktop on MAC OS X, at that point you can call on the BINANCE technical support phone number.
The masters accessible on the BINANCE contact number are master in work and are consistently prepared to help you with these inquiries.
So contact BINANCE mail support phone number to interface with BINANCE help work area.
On the off chance that you can’t associate with the BINANCE contact number, at that point other than calling on the BINANCE technical support number you can give calling a shot the toll free number accessible on this website.
This toll free number later gets you the help of autonomous outsider BINANCE mail arrangement service.
We recommend you to generously experience the terms and strategies before calling on the outsider BINANCE support mail service through our toll free number.Binance mail phone number
BINANCE Mail Setup >> Procedure to create and log in an BINANCE mail Through this segment, we will direct you to make and sign in to an BINANCE mail account. On the off chance that you are searching for the procedure to sign in and make an BINANCE mail, at that point this segment of the article documentation will direct you.
BINANCE mail help chiefs offer the procedure rules to sign in to an BINANCE mail. In the event that the clients need to sign into the BINANCE mail, at that point they have to play out the procedure given beneath.
In the event that the clients face any sort of issue while playing out the procedure, at that point they can call BINANCE customer support phone number.
BINANCE mail customer service specialists will help them to determine their issues in a split second.
Some of the time the clients AOLempt to login to their BINANCE mail account however they neglected to sign in because of some technical mistake, all things considered, the client searches for BINANCE helpline number to profit the advantage of overpowering customer service.
They can undoubtedly get the directions of BINANCE mail help specialists once they call the BINANCE 800 number.
Be that as it may, we prescribe you need to follow the procedure given underneath first.
On the off chance that you play out the methodology bit by bit, at that point you don’t have to contact the BINANCE support mail service.
BINANCE Mail Setup >> How to change BINANCE mail password? The mail and expedient informing, the two highlights are given by the BINANCE webmail services. The two highlights need just a single password to get to your BINANCE mail account.
The password ought to be one of a kind. The password is intended for the security reason for your BINANCE mail account with the goal that nobody hacks your BINANCE account.
It is extremely easy to change your BINANCE mail password.
The means to change the BINANCE mail account password are given beneath. The clients can abstain from calling the BINANCE tech support phone number in the event that they follow all the means cautiously.
Enter your current login username and password to sign into your BINANCE mail account.
Select the “setting” choice given on the BINANCE toolbar. Press the “password” and push on the “change” choice to change your account password.
Enter your old password in the given field. After that type your ideal new password into the new password box and furthermore retype your new password into the retype new password box.
Through this procedure, you can utilize your new password during login to your BINANCE account. To get more data, call aol.com support number.
BINANCE mail support technician can likewise give the procedure to change the BINANCE mail password. On the off chance that you overlook your BINANCE account password or you need to change your password, at that point it is possible that you can contact the technicians present at BINANCE customer service mail or you can follow the procedure given beneath.
In the event that the clients need the help of specialists to change the password, at that point they need to call BINANCE contact phone number.
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In the event that you identify any issue while utilizing BINANCE mail service, at that point you can contact BINANCE mail support number to get the required BINANCE mail customer service.
See Also: island-hopping-sabah-to-explore-the-top-5-islands
If you are unable to connect to the BINANCE phone number customer service under any circumstances, then besides calling on the BINANCE mail support phone number you can call on the toll-free provided on this website.
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We recommend you to go through the policies and terms applicable for contacting 3rd party BINANCE mail setup service.
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
This level should gather as much information as possible from the end user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screen shots, any data used by the end user or any sequence of steps used by the end user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.[
Technical support (often shortened to tech support) refers to services that entities provide to users of technology products or services. In general, technical support provide help regarding specific problems with a product or service, rather than providing training, provision or customization of product, or other support services. Most companies offer technical support for the services or products they sell, either included in the cost or for an additional fee. Technical support may be delivered over by phone, e-mail, live support software on a website, or other tool where users can log an incident. Larger organizations frequently have internal technical support available to their staff for computer-related problems. The Internet can also be a good source for freely available tech support, where experienced users help users find solutions to their problems.[not verified in body] In addition, some fee-based service companies charge for premium technical support services.[1]\\
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Technical support may be delivered by different technologies depending on the situation. For example, direct questions can be addressed using telephone calls, SMS, Online chat, Support Forums, E-mail or Fax; basic software problems can be addressed over the telephone or, increasingly, by using remote access repair services; while more complicated problems with hardware may need to be dealt with in person.
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This type of technical support has been very common in the services industry.[citation needed] It is also known as "Time and Materials" (T&M) IT support.[citation needed] The customer pays for the materials (hard drive, memory, computer, digital devices, etc.) and also pays the technician based on the pre-negotiated rate when a problem occurs.[citation needed]
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Block hours allow the client to purchase a number of hours upfront at an agreed price. While it is commonly used to offer a reduced hourly rate, it can also simply be a standard non-reduced rate, or represent a minimum fee charged to a client before providing service.[original research?] The premise behind this type of support is that the customer has purchased a fixed number of hours to use either per month or year. This allows them the flexibility to use the hours as they please without doing the paperwork and the hassle of paying multiple bills.[citation needed]
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Managed services means a company will receive a list of well-defined services on an ongoing basis, with well-defined "response and resolution times" for a fixed rate or a flat fee. This can include things like 24/7 monitoring of servers, 24/7 help desk support for daily computer issues, and on-site visits by a technician when issues cannot be resolved remotely.[citation needed] Some companies also offer additional services like project management, backup and disaster recovery, and vendor management in the monthly price. The companies that offer this type of tech support are known as managed services providers.
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Many companies and organizations provide discussion boards for users of their products to interact; such forums allow companies to reduce their support costs[2] without losing the benefit of customer feedback.
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Almost all tech brands and service providers give free access to a rich library of technical support solutions to users. These are huge databases of step-by-step solutions, however if you visit the support sites for big brands the solutions are more often for their products alone. Another method of getting technical support that's gained popularity is to follow troubleshooting steps shown in a support video.
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With the increasing use of technology in modern times, there is a growing requirement to provide technical support. Many organizations locate their technical support departments or call centers in countries or regions with lower costs. Dell was amongst the first companies to outsource their technical support and customer service departments to India in 2001.[3] There has also been a growth in companies specializing in providing technical support to other organizations. These are often referred to as MSPs (Managed Service Providers).[4]
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For businesses needing to provide technical support, outsourcing allows them to maintain a high availability of service. Such need may result from peaks in call volumes during the day, periods of high activity due to introduction of new products or maintenance service packs, or the requirement to provide customers with a high level of service at a low cost to the business. For businesses needing technical support assets, outsourcing enables their core employees to focus more on their work in order to maintain productivity.[5] It also enables them to utilize specialized personnel whose technical knowledge base and experience may exceed the scope of the business, thus providing a higher level of technical support to their employees.
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Technical support is often subdivided into tiers, or levels, in order to better serve a business or customer base. The number of levels a business uses to organize their technical support group is dependent on a business' needs regarding their ability to sufficiently serve their customers or users. The reason for providing a multi-tiered support system instead of one general support group is to provide the best possible service in the most efficient possible manner. Success of the organizational structure is dependent on the technicians' understanding of their level of responsibility and commitments, their customer response time commitments, and when to appropriately escalate an issue and to which level.[6] A common support structure revolves around a three-tiered technical support system.
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
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This level should gather as much information as possible from the end user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screen shots, any data used by the end user or any sequence of steps used by the end user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
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Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
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In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.
submitted by Binca108 to u/Binca108 [link] [comments]

Binance Has Robbed Me Of $10,000 U.S And Sold Info To Scammers

Here is the original Email I got back:
CS Vodka (Binance)
6月5日 CST14:00
Dear User,
Thanks for your inquiry.
Given your situation, it is highly recommended to contact your email provider and get control of your email account as soon as possible.
If you cannot get your email back, please provide us with the following information as best as you could:
  1. Commonly used IP address (you may find this by Google “my IP address”)
  2. Account registration country and city (the place where you were when you registered your account)
  3. Account registration date (please provide date/month/year, as close as you remember)
  4. Google Auth enabling date (please provide date/month/year, as close as you remember)
  5. Device details (at minimum operating system version, brand, model, and browser name/version) regarding at least one device that is commonly used on the account.
  6. Any deposit records in your Binance account including the token name, amount and deposit date. (please search '[Binance] Deposit Success Alerts' in your email inbox)
  7. One of your Binance deposit addresses (you may find this on the sender platform where you did your withdrawal)
  8. Any withdrawal records in your Binance account including the token name, amount and date.
● Photos as follows:
  1. Both sides of your ID card or driver license, or if you would like to provide us with your passport, please attach the information page only.
  2. Selfie with the information page of your ID card/driver license/passport and a handwritten note, which should be written with 'Binance+change my account email from xxx to xxx' and the current date.
● A video in which you have to appear in it and hold the information page of your ID card/driver license/passport and a handwritten note. Then please speak out the exact phrase clearly "today is date/month/year, change my Binance email from *** to ***".
● Your new email address.(Make sure this new email address hasn't been registered in Binance.)
For the security of your account, the withdraw function will be suspended for 120 hours after changing the email.
Thank you for your cooperation and looking forward to your reply.
Best Regards,Binance Support Team
- - -

All that for a new email, because they froze out my account? They took my ID and sold it. They have done nothing to help. Now the scammers are attacking me, family members, and business associates.

Until one of the english or american mods here helps me I suggest not doing business with these Chinese thieves.

Authorities will have to get involved.
submitted by illegal_mexican_raza to binance [link] [comments]

Binance Customer Care Number ☎1844~948~0641

Binance Customer Care Number ☎1844~948~0641 Phone
Binance Customer Care Number ☎1844-948-0641 Phone is a mixed media and huge American internet service company.
Actually, BINANCE is one of the biggest mail service suppliers on the planet. BINANCE is a pioneer in the field of the mail service supplier. And it gives help to the clients through BINANCE customer support phone number that associates the clients to the specialists accessible at BINANCE help number.
The pros present there will assist you with BINANCE mail customer service at whatever point you call on the BINANCE assist phone with numbering and request help.
You can discover these phone numbers for aol.com on the official website. In the event that you are an inhabitant of US, at that point you have an uncommon bit of leeway to contact BINANCE customer service phone number US.
You can either contact BINANCE by phone by dialing BINANCE mail support number you can likewise take help through BINANCE chat support service.
With the assistance of this BINANCE live assistance, you’ll trade messages with an online specialist.
You can likewise help AOL.com by giving your significant criticism so as to appreciate better services.Binance mail help
On the off chance that because of any explanation, you aren’t associating with the BINANCE mail support number, at that point other than AOLempting the BINANCE mail support number you can AOLempt the referenced toll free number.
This toll free number later gets you in contact with the autonomous outsider BINANCE arrangement service.
We have a modest solicitation to you that please mercifully read the approaches and terms applied to call on the outsider BINANCE arrangement service through our toll free number.
BINANCE Help Mail >> How to download and install BINANCE on Desktop? To introduce BINANCE on the desktop, you can follow the technique given descending or search on the web.
You can likewise call on the BINANCE help phone number for help. We recommend you, right off the bat, you should AOLempt yourself to introduce BINANCE on the desktop as opposed to calling BINANCE telephone number.
Follow the means given underneath before you intend to call on BINANCE technical support phone number:
Installing BINANCE on Windows: BINANCE can undoubtedly be installed on windows by following the installation procedure examined underneath or by calling the BINANCE telephone number.
There may be a chance of getting a few mistakes while doing this procedure given underneath.
All things considered, you should take the help of BINANCE technical support phone number.
In spite of the fact that, we encourage you to experience the means first before you intend to call BINANCE customer service telephone number.
To bring the BINANCE download page, typeaol.com/software/90vr on the URL page and go to it. Tap on ‘download now’ option given at the bottom of the page. Make the page to download completely. A download window will appear. Tap on the ‘run’ option given on that window. If the user account window appears, then tap on ‘run’ once again. It will ask you to close all running applications. Close it by tapping on the ‘close’ option. After closing all programs, tap on ‘ok.’ BINANCE agreement and its privacy policy will be shown to you. Tap on ‘I agree’ button. Make an account, if you don’t have, by tapping on ‘new member’ or else tap on ‘current account’ if you are already using an old account. BINANCE is now be installed. In case of any issue, you can take help through the BINANCE mail login help service. Binance Mail Customer Service : These are the means to introduce BINANCE on your windows OS. In spite of the fact that the technique is simple and you can do it without the help of BINANCE help number yet on the off chance that you are as yet confronting issues in introducing BINANCE Desktop on windows, at that point you may contact BINANCE support phone number.
The chiefs present on BINANCE helpline number are experts and are consistently prepared to help. The BINANCE mail customer service is all day, every day accessible for the customers to serve them in the most effective manner.
You can either contact BINANCE by phone or you can profit the advantage of BINANCE chat support service.
With the help of this Binance US Toll-free Number ☎1844-948-0641 Phone is a mixed media and huge American internet service company. live help, you’ll trade messages with an online specialist who is sitting just to offer overpowering BINANCE support mail service to the customers.
Along these lines, you can introduce your BINANCE Desktop on MAC OS X.
The engineering of the MAC OS X working framework is entirely unexpected from the Windows working framework.
The installation procedure of BINANCE Desktop is additionally unique in both the frameworks. On the off chance that you face any issue in introducing BINANCE Desktop on MAC OS X, at that point you can call on the BINANCE technical support phone number.
The masters accessible on the BINANCE contact number are master in work and are consistently prepared to help you with these inquiries.
So contact BINANCE mail support phone number to interface with BINANCE help work area.
On the off chance that you can’t associate with the BINANCE contact number, at that point other than calling on the BINANCE technical support number you can give calling a shot the toll free number accessible on this website.
This toll free number later gets you the help of autonomous outsider BINANCE mail arrangement service.
We recommend you to generously experience the terms and strategies before calling on the outsider BINANCE support mail service through our toll free number.Binance mail phone number
BINANCE Mail Setup >> Procedure to create and log in an BINANCE mail Through this segment, we will direct you to make and sign in to an BINANCE mail account. On the off chance that you are searching for the procedure to sign in and make an BINANCE mail, at that point this segment of the article documentation will direct you.
BINANCE mail help chiefs offer the procedure rules to sign in to an BINANCE mail. In the event that the clients need to sign into the BINANCE mail, at that point they have to play out the procedure given beneath.
In the event that the clients face any sort of issue while playing out the procedure, at that point they can call BINANCE customer support phone number.
BINANCE mail customer service specialists will help them to determine their issues in a split second.
Some of the time the clients AOLempt to login to their BINANCE mail account however they neglected to sign in because of some technical mistake, all things considered, the client searches for BINANCE helpline number to profit the advantage of overpowering customer service.
They can undoubtedly get the directions of BINANCE mail help specialists once they call the BINANCE 800 number.
Be that as it may, we prescribe you need to follow the procedure given underneath first.
On the off chance that you play out the methodology bit by bit, at that point you don’t have to contact the BINANCE support mail service.
BINANCE Mail Setup >> How to change BINANCE mail password? The mail and expedient informing, the two highlights are given by the BINANCE webmail services. The two highlights need just a single password to get to your BINANCE mail account.
The password ought to be one of a kind. The password is intended for the security reason for your BINANCE mail account with the goal that nobody hacks your BINANCE account.
It is extremely easy to change your BINANCE mail password.
The means to change the BINANCE mail account password are given beneath. The clients can abstain from calling the BINANCE tech support phone number in the event that they follow all the means cautiously.
Enter your current login username and password to sign into your BINANCE mail account.
Select the “setting” choice given on the BINANCE toolbar. Press the “password” and push on the “change” choice to change your account password.
Enter your old password in the given field. After that type your ideal new password into the new password box and furthermore retype your new password into the retype new password box.
Through this procedure, you can utilize your new password during login to your BINANCE account. To get more data, call aol.com support number.
BINANCE mail support technician can likewise give the procedure to change the BINANCE mail password. On the off chance that you overlook your BINANCE account password or you need to change your password, at that point it is possible that you can contact the technicians present at BINANCE customer service mail or you can follow the procedure given beneath.
In the event that the clients need the help of specialists to change the password, at that point they need to call BINANCE contact phone number.
The agents sitting at the BINANCE customer support number will give you the strategy to reset your password.
In the event that you identify any issue while utilizing BINANCE mail service, at that point you can contact BINANCE mail support number to get the required BINANCE mail customer service.
See Also: island-hopping-sabah-to-explore-the-top-5-islands
If you are unable to connect to the BINANCE phone number customer service under any circumstances, then besides calling on the BINANCE mail support phone number you can call on the toll-free provided on this website.
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
This level should gather as much information as possible from the end user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screen shots, any data used by the end user or any sequence of steps used by the end user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.[
Technical support (often shortened to tech support) refers to services that entities provide to users of technology products or services. In general, technical support provide help regarding specific problems with a product or service, rather than providing training, provision or customization of product, or other support services. Most companies offer technical support for the services or products they sell, either included in the cost or for an additional fee. Technical support may be delivered over by phone, e-mail, live support software on a website, or other tool where users can log an incident. Larger organizations frequently have internal technical support available to their staff for computer-related problems. The Internet can also be a good source for freely available tech support, where experienced users help users find solutions to their problems.[not verified in body] In addition, some fee-based service companies charge for premium technical support services.[1]\\
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Technical support may be delivered by different technologies depending on the situation. For example, direct questions can be addressed using telephone calls, SMS, Online chat, Support Forums, E-mail or Fax; basic software problems can be addressed over the telephone or, increasingly, by using remote access repair services; while more complicated problems with hardware may need to be dealt with in person.
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This type of technical support has been very common in the services industry.[citation needed] It is also known as "Time and Materials" (T&M) IT support.[citation needed] The customer pays for the materials (hard drive, memory, computer, digital devices, etc.) and also pays the technician based on the pre-negotiated rate when a problem occurs.[citation needed]
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Block hours allow the client to purchase a number of hours upfront at an agreed price. While it is commonly used to offer a reduced hourly rate, it can also simply be a standard non-reduced rate, or represent a minimum fee charged to a client before providing service.[original research?] The premise behind this type of support is that the customer has purchased a fixed number of hours to use either per month or year. This allows them the flexibility to use the hours as they please without doing the paperwork and the hassle of paying multiple bills.[citation needed]
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Managed services means a company will receive a list of well-defined services on an ongoing basis, with well-defined "response and resolution times" for a fixed rate or a flat fee. This can include things like 24/7 monitoring of servers, 24/7 help desk support for daily computer issues, and on-site visits by a technician when issues cannot be resolved remotely.[citation needed] Some companies also offer additional services like project management, backup and disaster recovery, and vendor management in the monthly price. The companies that offer this type of tech support are known as managed services providers.
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Many companies and organizations provide discussion boards for users of their products to interact; such forums allow companies to reduce their support costs[2] without losing the benefit of customer feedback.
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Almost all tech brands and service providers give free access to a rich library of technical support solutions to users. These are huge databases of step-by-step solutions, however if you visit the support sites for big brands the solutions are more often for their products alone. Another method of getting technical support that's gained popularity is to follow troubleshooting steps shown in a support video.
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With the increasing use of technology in modern times, there is a growing requirement to provide technical support. Many organizations locate their technical support departments or call centers in countries or regions with lower costs. Dell was amongst the first companies to outsource their technical support and customer service departments to India in 2001.[3] There has also been a growth in companies specializing in providing technical support to other organizations. These are often referred to as MSPs (Managed Service Providers).[4]
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For businesses needing to provide technical support, outsourcing allows them to maintain a high availability of service. Such need may result from peaks in call volumes during the day, periods of high activity due to introduction of new products or maintenance service packs, or the requirement to provide customers with a high level of service at a low cost to the business. For businesses needing technical support assets, outsourcing enables their core employees to focus more on their work in order to maintain productivity.[5] It also enables them to utilize specialized personnel whose technical knowledge base and experience may exceed the scope of the business, thus providing a higher level of technical support to their employees.
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Technical support is often subdivided into tiers, or levels, in order to better serve a business or customer base. The number of levels a business uses to organize their technical support group is dependent on a business' needs regarding their ability to sufficiently serve their customers or users. The reason for providing a multi-tiered support system instead of one general support group is to provide the best possible service in the most efficient possible manner. Success of the organizational structure is dependent on the technicians' understanding of their level of responsibility and commitments, their customer response time commitments, and when to appropriately escalate an issue and to which level.[6] A common support structure revolves around a three-tiered technical support system.
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Tier I (or Level 1, abbreviated as T1 or L1) is the initial support level responsible for basic customer issues. It is synonymous with first-line support, level 1 support, front-end support, support line 1, and various other headings denoting basic level technical support functions.[citation needed] The first job of a Tier I specialist is to gather the customer's information and to determine the customer's issue by analyzing the symptoms and figuring out the underlying problem.[6] When analyzing the symptoms, it is important for the technician to identify what the customer is trying to accomplish so that time is not wasted on "AOLempting to solve a symptom instead of a problem." [6]
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This level should gather as much information as possible from the end user. The information could be computer system name, screen name or report name, error or warning message displayed on the screen, any logs files, screen shots, any data used by the end user or any sequence of steps used by the end user, etc. This information needs to be recorded into the issue tracking or issue logging system. This information is useful to analyze the symptoms to define the problem or issue.[citation needed]
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Once identification of the underlying problem is established, the specialist can begin sorting through the possible solutions available. Technical support specialists in this group typically handle straightforward and simple problems while "possibly using some kind of knowledge management tool."[7] This includes troubleshooting methods such as verifying physical layer issues, resolving username and password problems, uninstalling/reinstalling basic software applications, verification of proper hardware and software set up, and assistance with navigating around application menus. Personnel at this level have a basic to general understanding of the product or service and may not always contain the competency required for solving complex issues.[8] Nevertheless, the goal for this group is to handle 70–80% of the user problems before finding it necessary to escalate the issue to a higher level.[8]
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In other industries (such as banking, credit cards, mobile telephony, etc.), first-level support is carried by a call center that operates extensive hours (or 24/7). This call center acts as an "initial sink" for user requests and, if required, creates an incident to notify other business teams/units to satisfy the user request (for example, blocking stolen credit cards or mobile phones from use).[citation needed] In some industries,[which?] first-line support requires knowledge of the products, terms and conditions offered by the business rather than technical information itself (Retail / Wholesale). Most ISPs only offer tier 1 support.
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