What is IBC and how it works

🌐 We continue our series of posts dedicated to the Cosmos ecosystem and today’s post is about communication between the elements of this network and the protocol that provides it, IBC.

🔃 Inter-blockchain communication (IBC) is a protocol intended for interaction between independent blockchains in the Cosmos ecosystem. It connects unrelated blockchains and transfers assets or data between them. Here's how it works:

🔷 The connection is established by exchanging cryptographic proofs and metadata between blockchains.
🔷Creating a channel. Channels are unidirectional or bidirectional paths for sending messages between blockchains. Each channel has a unique identifier and is associated with a connection.
🔷 Packet transfer. Once a channel is created, blockchains can send packets of data or assets (with information about the sender, recipient, and any additional metadata) through it).
🔷 Packet processing: Once a packet is received, the destination blockchain verifies its authenticity and processes the data it contains.
🔷 Acknowledgment: After processing the packet, the target blockchain sends an acknowledgment back to the source blockchain. This confirms that the packet was successfully received and processed.

👍 Overall, IBC in Cosmos provides the basis for interoperability among elements of the "Internet of Blockchains". This protocol will also be implemented in the Relictum Pro ecosystem, allowing its participants to send and receive tokens from the Cosmos network.

🔎 #Blog #Cosmos

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About fees in Cosmos network

🌐 Dear friends! We continue our series of posts devoted to the Cosmos ecosystem and today we will consider the fees in the "Internet of blockchains".

🪙 In the Cosmos network, the transaction fee is defined and collected based on the resources consumed by a specific transaction. Its size may vary depending on several factors, including the current situation in the ecosystem and additional functions or services offered by validators (confirm transactions).

Here's how it works:

🔷 Gas fee. Like Ethereum, Cosmos uses the concept of "gas" to measure the computing resources required to complete a transaction.

🔷 Transaction complexity. Simple transactions, such as the transfer of tokens, consume less gas compared to more complex operations, such as the execution of smart contracts.

🔷 Dynamic adjustment of fees. Validators in the Cosmos network can adjust the gas price depending on factors such as network congestion, demand for block space, and economic incentives.

🔷 In addition to the fees in Cosmos, a fixed fee in the Relictum Pro network will also be charged during the transaction.

💵 In general, the structure and mechanisms of collecting fees in the Cosmos Network are intended to stimulate the support of the efficiency and security of the network, while minimizing the costs for its participants.

🔎 #Blog #Cosmos

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Dear cryptocommunity!

👤 As you know, Relictum Pro has its own official accounts on all the most popular platforms: Facebook, Instagram, Youtube, X, LinkedIn, VK and Medium, but the main platform for communication is Telegram.

💬 Our Telegram community is not just another channel to address the audience, but an entire communication platform where, in addition to current news from the life of Relictum Pro, you will find:

🔷 Chat for community members
🔷 Answers to questions from the CEO
🔷 Information about the current GTN rate and other statistics
🔷 Crypto industry news
🔷 Publications about Relictum Pro and media
🔷 Blog
🔷 “Test your knowledge” section
🔷 Promo video
🔷 Instructions

➡️ Following the link https://t.me/relictum_pro_chat you will find the most complete and up-to-date information about our network, the latest news, helpful materials and much more, besides, there you will be able to communicate with other community members.

👤 Join us!

🔎 #Blog

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Who is in Cosmos ecosystem?

🌐 Dear friends, we continue our series of posts dedicated to the Cosmos ecosystem and our next material is about products that are already operating on the “Internet of Blockchains”. Here are just some of the most popular "inhabitants" of Cosmos:

🔷 Binance Smart Chain (BSC). Developed by Binance and aims to provide a fast and low-cost alternative to decentralized finance (DeFi) applications.

🔷 Crypto_com. Designed to facilitate high-frequency transactions for payments, DeFi and other applications in the Crypto_com ecosystem.

🔷 Kava is a DeFi platform created based on the Cosmos SDK. Allows users to borrow, lend, and earn interest on cryptocurrencies.

🔷 Akash Network is a decentralized cloud computing marketplace that allows developers to deploy and scale applications on a decentralized cloud infrastructure.

🔷 Terra is a blockchain platform that offers price-stable digital currencies that can be used for payments and DeFi applications.

🔷 Persistence is a blockchain platform focused on tokenized assets, including non-fungible tokens (NFTs), and other financial instruments.

🔷 Sentinel is a decentralized VPN marketplace built on Cosmos that allows users to earn rewards in exchange for providing VPN services to others.

🔷 DYdX is one of the best DEXs that supports various trading tools for popular cryptocurrencies.

📈 And this is only a small part of all projects already operating in the Cosmos environment. The ecosystem continues to grow and develop: new projects based on Cosmos appear, other networks regularly join it.

👍 The Relictum Pro blockchain will soon become part of the Cosmos network.

🔎 #Blog #Cosmos

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How liquid staking works

⁉️ Liquid staking is a mechanism allowing users to stake their crypto assets in a way that ensures their liquidity, that is, during staking, assets can be traded or used as collateral, bringing a reward for their owner.

🪙 In traditional staking, the asset is blocked for a certain period, but in liquid staking there is no such restriction. This effect is achieved through the use of specialized tokens or derivatives that a user receives in return for staked ones.

🔃 How it works

1️⃣ Users lock their assets in a staking contract, just like with traditional staking.
2️⃣ After the assets are staked, a user receives liquid tokens in return. These tokens are fungible, meaning they can be traded or used in other DeFi applications and you receive rewards for staking.
3️⃣ When the staking period is over, a user exchanges liquid tokens back to the staked assets and takes the rewards received during the staking period.

👍 What are the benefits?

🔷 High liquidity: users trade staked assets without waiting for the end of the staking period.
🔷 Collateral: staked assets can be used as collateral.
🔷 Maximum income: users receive additional rewards, so this scheme is more profitable than regular staking.

👥 The good news for our ecosystem users is that Relictum Pro also plans to implement liquid staking by the end of the year. We will tell you more about how it works and how else you can earn money with it in our future posts, so stay tuned for our updates, there are lots of interesting things ahead!

🔎 #Blog

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Who and how manages the decentralized network

🤔 Have you ever wondered about who runs the decentralized blockchain network and how? Today we'll take a quick look at this issue. The organization may differ, but there are some some common features. All the networks can be divided into two large types:

👨‍👩‍👧 Public blockchain. An open network for everyone. The system is controlled through the consensus mechanism (PoW, PoS, PoT, DPoS, PBFT, etc.) and smart contracts. There is a huge number of examples of such networks, including Bitcoin, Ethereum, Ripple and Relictum Pro.

🛡 Private blockchain. Such a network is managed by an organization that decides who can participate in the network. Users are assigned varying levels of control and authority, but this is also a distributed system. The examples of private blockchains are Quorum, Hyperledger Fabric, and Corda.

🔃 In any case, developers do not directly interfere with the operation of the network, but only create conditions for its normal functioning. Their responsibilities include:

🔷 Development and modification of the network interaction protocol: consensus mechanisms, smart contracts, transaction processing, network communication and security measures.

🔷 Maintenance and updating of software (nodes): maintenance and updating of software, bug fixing, improvement of the security system, introduction of new functions or improvements.

🔷 Working with the community: collecting feedback and suggestions, discussing proposed changes, participating in forums, social networks, developer conferences, etc.

Although developers play an important role in the evolution of any blockchain, the general vector of development of a decentralized network is determined by the community itself: any changes in the protocol and the introduction of new functionality or programs are subject to expert evaluation and receive feedback from the community, and only after receiving approval are accepted by the blockchain network.

🔎 #Blog

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About the importance of the private key

🤔 Most of us are used to skip all these long texts during the registration process; we quickly agree to the proposed conditions, check the boxes and immediately start working in the new system, and there’s nothing wrong about that, but not in the case of blockchain!

❗️ We strongly recommend you not to do this in the Relictum node. Please keep in mind, that your private key, which you create during registration, is the only way to restore the node if it is lost or transferred to another device, so do not ignore it!

🔑 When registering a new account in the node application, you create a private key. This is a sequence of 232 characters and a PIN code to decrypt it.

✔️ Therefore, we recommend:

1️⃣ Be sure to remember where you save your private key. You can save it in a file with the *.pk extension or in a text document. We recommend using the pk format to immediately import it from the file.

2️⃣ Remember, and preferably write down your pin-code (needed to decrypt the key)

3️⃣ Make several copies of the key and store them in different places not on the device where the node is installed. Thus you will protect yourself in case of losing one of them.

ℹ️ Important! The private key is one-time use only, and you use it, a new one must be generated immediately.

ℹ️ Important! We recommend you to check right now your private key, and if it is missing, immediately generate a new one and save it according to the rules described above

📺 This video describes in detail the sequence of private key import and export.

Your node safety is in your hands!

🔍 #Blog #Instruction #Node

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How to create own Relictum Ecosystem community

✈️ As all know that we have our own Telegram community and official Telegram news channels. In these official Relictum Pro groups, the project team informs about the latest news, developments and updates, and gives some useful advices to users.

👥 However, they are not alone in the Relictum ecosystem. There are other groups created by users themselves.

What are they for?

🙋 In order for the community to actively develop, we support horizontal initiatives of our users, so you can create your own group within the Relictum ecosystem.

💬 Such a group will have its own rules, for example, users will have the opportunity to share media files and links and communicate in their native language.

How to register your own community?

🙂 To register your group, please submit an application through our website: https://relictum.pro/dapps-channels, providing your contact details and go through a quick verification procedure. That's all!

👍 Follow the link, register, gather a community of like-minded people, let's develop the Relictum ecosystem together!

🔎#Blog

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How to restore or move Relictum Node without losing assets?

🔃 The Relictum Pro ecosystem is a decentralized blockchain network, each node there acts as an independent unit, and all the information it contains is physically stored on the device where the application is installed.

❗️ Important! You can't just log into your account on another device with your login and password!

⁉️ What to do if you lost your smartphone, or bought a new one and want to transfer your data there?

🔄 To do this, use the procedure for transferring and restoring your account using a private key:

1️⃣ Download and install the application on a new device.
2️⃣ During authorization, select “Import private key” and enter your private key.
3️⃣ Enter the PIN code to decrypt the key. After use, the private key becomes invalid.
4️⃣ Immediately generate a new private key and save it in a safe place.

✔️ That's all! From now on, your account will become invalid on the old device and active on the new one.

📺 In this video, you will find detailed instructions on how to transfer and restore a node: https://youtu.be/QabpHRLZtcg

🔑 We have previously shown how to export, import and store a private key. Read more about this here: https://t.me/Relictum_Pro_Official/1515

🔍 #Blog

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The basic rules of RNode safe operation

Dear crypto community!

🔃 Our Relictum blockchain ecosystem is a distributed system without any single server, and that means that the responsibility for your personal assets and data safety is entirely up to you.

We used to rely on the magical “Forgot your password?” button to restore access to your account, but this is not possible in a decentralized blockchain network, therefore, it is very important for you to follow four basic rules:

1️⃣ RULE No.1 Be sure to remember your password, or even better, write it down and keep it in some safe place, since it is impossible to recover your password.

2️⃣ RULE No.2 Be sure to remember your PIN code, or even better, write it down and keep it in some safe place, since it is impossible to recover your PIN code.

3️⃣ RULE No.3 Keep your private key in a file with a pk. extension. If necessary, open the document with the key only with the node application.

4️⃣ RULE No.4 A private key is a one-time use! If you have already used it once, you must immediately generate a new one, otherwise, you will not be able to restore access to your funds later.

👍That's all! It is not difficult at all to follow these basic rules, but keeping them guarantees the safety of your funds!

🔍 #Blog

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What are wrapped tokens?

📷 Our today post is about wrapped tokens. What is this, what are they for, and how do they work. So, let's go!

🪙 Any cryptocurrency can only exist on its native network, but wrapped token technology allows to bypass this limitation.

💳 Wrapped tokens are the “copies” of a crypto asset issued on the Relictum Pro blockchain secured by the original coin. The total number of wrapped tokens in the system is equal to the amount of funds accepted into Relictum Pro wallets.

🔣 Fees on wrapped tokens in the Relictum Pro network

🔷 0% - Fees for depositing assets into Relictum Pro
🔷 0% - Fees for transactions within the network
🔷 2% - Fees for withdrawing assets from Relictum Pro

📖 You can learn more about the tokenomic model of the Relictum Pro network in our Whitepaper

🔎 #Blog

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Relictum Wallet – instant transactions with crypto assets

🤔 What's good about Relictum Wallet?

🔃 Relictum Wallet works in Relictum Node and allows you to store, accept and transfer various crypto assets (BTC, ETH, GTN, USDR, USDT, TRX, LTC), as well as track transactions on them on any device.

⏲ Receiving and sending crypto assets occurs in a matter of moments and a couple of clicks - all operations are as simple and fast as possible.

🔄Transactions within the Relictum blockchain are instant, and transactions with other networks take only a few minutes, while the commission for transactions with other networks will always be the lowest possible.

Besides, Relictum Wallet is:

🔷 Simple
🔷 Easy to use
🔷 Functional
🔷 Safe
🔷 Economical
🔷 Universal

✔️ Relictum Wallet is your financial instrument for every day.

🔎 #Blog #Node

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Where to get GTN tokens?

🪙 This post is for beginners who are just mastering the Relictum Pro ecosystem and getting acquainted with its basic functions. So, where to get GTN tokens?

Currently, Relictum Pro users have two possible options:

1️⃣ On the decentralized exchange Relictum DEX. The process is described in detail here. To do this, you will need USDR stable tokens. This post describes in detail the process of purchasing them.

2️⃣ On the centralized exchange Lbank. You will find detailed step-by-step instructions on how to do this here.

🔄 In the second case, the tokens will go to your balance on the Lbank exchange and in order to use any Relictum Pro product, the assets first must be transferred to the node’s balance. Here is a detailed description of how to do this.

➡️ If you have any difficulties with the exchange or withdrawal of GTN, please contact our technical support service support@relictum.pro or our Telegram managers @meran_finance and @Serg_relictum

🔎 #Blog #Instruction

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How to upload a file to storage

📊 Relictum Node has a decentralized storage in which you can safely and securely store your documents, photos and other files - Relictum Storage.

➡️ How to upload a file to storage? It's simple:

1️⃣ Run the Relictum Node application and log in.
2️⃣ Go to the Products tab and select Relictum Storage there
3️⃣ Next, at the bottom of the screen, click the Create button, then the window for selecting a file to upload will open.
4️⃣ Next appears a dialog with a file description (name, short description, password) - these are optional parameters and you may not specify them if you wish.
5️⃣ After that, click the Download button, the system will notify you about the fee for storing the file 0.0001 USDR for each MB.
So you will pay only $1 per year for storing 10 GB of data in the blockchain.
6️⃣ That's it, the file has been downloaded, it now appears in the list of files in your storage.

🟣 Relictum Storage is:

🔷 Maximum reliability of decentralized storage
🔷 Instant access
🔷 Lifetime storage
🔷 Minimum storage cost

⁉️ What, haven't you created a storage in your node yet? In this video you will learn how to do this: How to create a storage in Relictum Node?

🔎 #Blog #Instruction

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What are wrapped tokens?

📷 Our today post is about wrapped tokens. What is this, what are they for, and how do they work. So, let's go!

🪙 Any cryptocurrency can only exist on its native network, but wrapped token technology allows to bypass this limitation.

💳 Wrapped tokens are the “copies” of a crypto asset issued on the Relictum Pro blockchain secured by the original coin. The total number of wrapped tokens in the system is equal to the amount of funds accepted into Relictum Pro wallets.

🔣 Fees on wrapped tokens in the Relictum Pro network

🔷 0% - Fees for depositing assets into Relictum Pro
🔷 0% - Fees for transactions within the network
🔷 2% - Fees for withdrawing assets from Relictum Pro

📖 You can learn more about the tokenomic model of the Relictum Pro network in our Whitepaper

🔎 #Blog

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How to restore or move Relictum Node without losing assets?

🔃 The Relictum Pro ecosystem is a decentralized blockchain network, each node there acts as an independent unit, and all the information it contains is physically stored on the device where the application is installed.

❗️ Important! You can't just log into your account on another device with your login and password!

⁉️ What to do if you lost your smartphone, or bought a new one and want to transfer your data there?

🔄 To do this, use the procedure for transferring and restoring your account using a private key:

1️⃣ Download and install the application on a new device.
2️⃣ During authorization, select “Import private key” and enter your private key.
3️⃣ Enter the PIN code to decrypt the key. After use, the private key becomes invalid.
4️⃣ Immediately generate a new private key and save it in a safe place.

✔️ That's all! From now on, your account will become invalid on the old device and active on the new one.

📺 In this video, you will find detailed instructions on how to transfer and restore a node: https://youtu.be/QabpHRLZtcg

🔑 We have previously shown how to export, import and store a private key. Read more about this here: https://t.me/Relictum_Pro_Official/1515

🔍 #Blog

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📤 DISCUSS NEWS

Who and how manages the decentralized network

🤔 Have you ever wondered about who runs the decentralized blockchain network and how? Today we'll take a quick look at this issue. The organization may differ, but there are some some common features. All the networks can be divided into two large types:

👨‍👩‍👧 Public blockchain. An open network for everyone. The system is controlled through the consensus mechanism (PoW, PoS, PoT, DPoS, PBFT, etc.) and smart contracts. There is a huge number of examples of such networks, including Bitcoin, Ethereum, Ripple and Relictum Pro.

🛡 Private blockchain. Such a network is managed by an organization that decides who can participate in the network. Users are assigned varying levels of control and authority, but this is also a distributed system. The examples of private blockchains are Quorum, Hyperledger Fabric, and Corda.

🔃 In any case, developers do not directly interfere with the operation of the network, but only create conditions for its normal functioning. Their responsibilities include:

🔷 Development and modification of the network interaction protocol: consensus mechanisms, smart contracts, transaction processing, network communication and security measures.

🔷 Maintenance and updating of software (nodes): maintenance and updating of software, bug fixing, improvement of the security system, introduction of new functions or improvements.

🔷 Working with the community: collecting feedback and suggestions, discussing proposed changes, participating in forums, social networks, developer conferences, etc.

Although developers play an important role in the evolution of any blockchain, the general vector of development of a decentralized network is determined by the community itself: any changes in the protocol and the introduction of new functionality or programs are subject to expert evaluation and receive feedback from the community, and only after receiving approval are accepted by the blockchain network.

🔎 #Blog

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What to do with the tokens received from staking?

💎 Relictum Pro stakeholders are well aware of the fact that every two weeks they receive royalties - a reward from the network. The amount of payments depends on the number of tokens in staking, the period of their placement and the earnings of the blockchain itself. Until recently, rewards for stakeholders were accrued in USDR, or rBTC, but starting from October 2023, users receive also other assets.

ℹ️ Important! All tokens you receive from Account ID 3 are staking royalties.

🪙 What are these tokens?
All these new tokens are assets created by the users on our blockchain. Their value and total issue are indicated by the authors when creating these assets. It costs 20 USDR to create a token in the Relictum Pro ecosystem. The Explorer shows how many tokens have been created in our ecosystem: https://relictum.pro/explorer/main/tokens

🤔 What to do with new tokens?
Any token in the Relictum wallet can be stored, transferred to other users, or exchanged on the Relictum DEX exchange if this token has passed the listing procedure. It costs 250 USDR.

#Staking #Token #Blog

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What's the difference between a node, an account and a wallet?

👨‍👩‍👧 “Node, account, wallet...” users often use these terms, sometimes without even realizing their true meaning, which sometimes causes misunderstandings. In this post we will briefly consider what it what to clarify the issue. So, let's go!

🔷 Node (Relictum Node) is the application you install on your device (smartphone, tablet, or PC). Users gain access to the Relictum Pro ecosystem through the node interface, which implements various programs (dApps), for example, wallet, staking, DEX, file storage, etc.

👤 Account is your unique identifier (for example “12345”) in the network. When you enter it, you are authorized on the blockchain. As a rule, there is only one account on a single node, although there may be more than one. The number of accounts roughly determines the number of users on the network.

💳 Wallet (Relictum Wallet) is a dApp where all your assets are stored. A wallet has a unique address consisting of digits and letters, for example “yfyuxesCcNX2VFrd0g0vyftDdPa5cHxm”. Any transfers are made to these addresses. The wallet address is the same for all crypto assets.

👍 We hope that this small explanation will help you better understand how our system works and call a spade a spade in the future.

🔎 #Blog

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🗂 Relictum Pro Support

Where to find the current GTN rate?

🔄 As you know, users can trade the GTN token on the Lbank exchange, or on the Relictum DEX exchange (the process is described in detail here), so, there are two exchange rates:

1️⃣ GTN exchange rate on the Lbank exchange you can find here. Lbank shows the price changes and you can immediately buy or sell GTNs.

2️⃣GTN exchange rate on the Relictum DEX exchange. To view the current rate, log into your account on Relictum Node, select DEX in the Products menu and then the GTN/USDR pair. Here you will find the current token price.

Important! Lbank exchange presents the GTN to USDT token exchange rate, while the Relictum DEX exchange provides the GTN to USDR rate.

🔎 #Blog

🌐 Relictum Pro Website

🗂 Relictum Pro Support