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WazirX is a cryptocurrency exchange that will enable you to Buy, Sell & Trade digital assets like Bitcoin, Ethereum, Litecoin, Ripple etc in India. It offers a simple yet powerful interface with real-time open order books, charting, trade history, deposit & withdrawals so you can trade and invest in some of the world’s best performing digital assets. We’re building India’s most trusted cryptocurrency exchange and are working hard towards a launch in the next few weeks.
What are WRX coins?
Just like Bitcoin, WRX is a digital asset. There will be a maximum of 1 Billion WRX coins ever created and over a period of time, we expect the value, utility and liquidity of WRX to increase substantially.
By owning WRX coins through the WazirX signup and referral reward program, you become one of the early holders of the coin and exchange expect you to reap benefits with the rising utility & demand of the coin.
Whenever you send someone Ethereum, the transaction goes through different devices running the Ethereum protocol around the world that make sure the transaction is valid. Once the transaction is verified it then “waits” inside the Mempool.
In ideal circumstances an Ethereum transaction takes under 20 seconds, and some sites require multiple confirmations. You can view the average blocktime here: https://etherscan.io/chart/blocktime. Sometimes due to congestion transactions may take longer, although the Ethereum Development Team is working on scaling solutions. You can view detailed metrics and a calculator for suggested Gas (fees) here: http://ethgasstation.info/
It’s basically waiting to be picked up by a Ethereum miner and entered into a block of transaction on the Blockchain. Until it is picked up it’s considered an “unconfirmed transaction” or a “pending transaction”.
In some cases there are so many transactions and blocks are finite not all transactions are picked instantly. Sometimes you need to wait for a certain amount of time until it is included in a block.
Once your transaction is included in the block it receives its first confirmation and it’s no longer pending. After another block of transactions is added it will get another confirmation and so on…
This process for transactions needs gas (fee for the Miner) and time to go through your buddy.
Today, TRON announced that it has built a strategic partnership with GSC (Global Social Chain). In the future, TRON will provide GSC with great support in aspects of fund, technology and infrastructure, and GSC will carry out optimization based on TRON Network, in order to jointly facilitate development of blockchain-based social system.
GSC (Global Social Chain) is the world’s first new generation of social network chain that owns hundreds of millions of social users. This social chain is determined to use block chain technology to subvert centralized social networks such as Facebook, WeChat, etc., which plays a dual role as “manager” and “arbiter” simultaneously for the former social networking platforms.
This is a common misconception about the XRP Ledger. While Ripple contributes to the open-source code of the XRP Ledger, no single entity owns, controls, or administers the XRP Ledger. It is decentralized. If Ripple ceased to exist, the Ledger would continue on.
Similarly, no single entity centrally controls XRP. A fixed quantity of 100 billion units of XRP were created before Ripple (the company) was formed, and then a portion was gifted to Ripple. Today, Ripple still owns a little more than 60% of the total supply of XRP. In 2017, Ripple placed 55 billion XRP in cryptographically-secured escrow accounts on the XRP Ledger to create certainty of XRP supply at any given time. Each month, one (1) billion XRP is released to Ripple, which it can use to help build a robust and vibrant XRP ecosystem and long-term utility.