CRYPTOCURRENCY

Metamask: Wrong Network shown for claiming Param tokens

Metamask: Wrong Network Detected, Claiming Param Tokens Incorrectly

As a Metamask user, you’re likely no stranger to the platform’s flexibility in supporting various cryptocurrency networks. However, when trying to claim your Param tokens on platforms like Paramgaming, it seems that something has gone awry.

The issue arises from the fact that your chosen network for claiming the Param tokens appears incorrect despite having selected a different network in your wallet and reconnecting Metamask properly.

A Step-by-Step Solution

To resolve this issue, you can try the following steps:

  • Disconnect and Reconnect: First, disconnect your MetaMask wallet from the network you’re currently using for claiming Param tokens.

  • Update MetaMask: Make sure that your MetaMask wallet is up-to-date with the latest version. Sometimes, a simple update might resolve the issue.

  • Re-select the Network

    : Reconnect your MetaMask wallet and select a different network in your wallet.

  • Re-claim Param Tokens: Try claiming your Param tokens again.

Additional Troubleshooting Steps

Metamask: Wrong Network shown for claiming Param tokens

If the above steps don’t work, you can try:

  • Checking for any recent updates or changes to the network you’re using for claiming Param tokens

  • Ensuring that Metamask is configured correctly and has permission to access the desired network

  • Contacting Paramgaming support directly for further assistance

Conclusion

Claiming Param tokens on platforms like Paramgaming can be a bit tricky, especially when dealing with different networks. By following these steps and troubleshooting your issue, you should be able to resolve the problem and successfully claim your Param tokens.

metamask what transaction

Solana: The account required by the instruction is missing

Article: The Importance of Accounts in Solana Programs

As developers and programmers, we often work with complex blockchain platforms such as Solana. A key aspect to consider when building a program on the Solana network is accounts. In this article, we will look at the role of accounts in Solana programs and explain why they are essential to creating a robust and reliable program.

What are Solana Accounts?

In Solana, an account is a unique identifier assigned to a user or entity that stores assets or executes instructions on the blockchain. It is essentially a digital wallet that stores data and allows users to interact with the network. In the context of Solana programs, accounts are used to store and manage variables, data structures, or even entire programs.

Why Do We Need Accounts in Solana Programs?

Accounts serve several purposes:

  • Variables: Used to store and retrieve data, such as challenge metadata or program state.
  • Functions: Executing instructions, such as creating a new token or deploying a contract.
  • Storing: Persistently storing data even after the program has ended.

The CreateChallenge Account Structure

Let’s take a closer look at an example CreateChallenge account structure in your code:

#[derived(Accounts)]

CreateChallenge publication structure {

#[account(

change,

mint::authority = authority,

mint::decimals = WYZWANIE_MINT_DECIMALS

)]

challenge: Account<'info, Challenge>,

}

In this example, we have a single account (challenge) owned by authority (which is also an account). An account has two attributes:

  • mint::authority: specifies that the account is authorized to mint new tokens.
  • mint::decimals: sets the decimal places for minting tokens.

The CreateChallenge account is then used to execute instructions, such as creating a new challenge. The instruction asks the user to provide “authorities” and a set of “challenge” data.

Best practices for managing accounts

To ensure that your Solana program is secure and trustworthy, follow these best practices when managing accounts:

  • Use unique identities: Assign each account a unique identifier to avoid conflicts.
  • Secure access controls

    Solana: An account required by the instruction is miss

    : Implement strict access controls, such as requiring users to provide a valid signature or password.

  • Regularly update account metadata: Update the mint::authority and mint::decimals attributes to reflect changes in program logic.

Conclusion

Accounts are a fundamental aspect of Solana programs, allowing developers to store, manage, and execute instructions on the blockchain. By understanding how accounts work and applying account management best practices, you can create robust, reliable, and secure Solana programs that meet your needs.

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Ethereum: Trying to set up a binance futures trailing stop order using python?

Ethereum: Using Trailing Stops on Binance Futures with Python

Since the last update in April 2023, Ethereum futures trading platform Binance has introduced a feature that allows users to place Trailing Stop orders. A Trailing Stop is a type of stop-loss order that automatically adjusts the price level of the order based on its performance relative to its target. This can be especially useful for traders who want to limit their losses or lock in profits.

In this article, we will provide an example of how to place a Trailing Stop order on Binance Futures using Python.

Prerequisites

Ethereum: Trying to place a binance futures trailing stop order using python?

Before moving on to the code and explanations, make sure you have:

  • Binance API Account: You need to create an account on Binance and obtain your client ID and secret key. This is necessary to authenticate API requests.
  • Python requests library: You will use this library to send HTTP requests to the Binance API.
  • forex_python library (optional, but recommended): While not required, forex_python is a simple and intuitive way to work with financial data, including APIs.

Code Example

Here is a sample code snippet that shows how to place a stop order on Ethereum futures:

import queries






Replace these placeholders with your actual values:

symbol = "ETHUDT"

Ethereum USDT (e.g. ETH/USDT)

client_id:int = 0x12345678

client_secret: str = ""

def get_order_symbol(symbol):

return f"{symbol}_USD"

def place_trailing_stop_order(order_type, symbol, stop_loss_price, trailing_stop_price):

"""Place a stop order on Binance futures.

Arguments:

order_type (str): Order type. It can be "limit" or "stop".

symbol (str): Contract symbol.

stop_loss_price (float): Price at which the stop-loss is triggered sell.

trailing_stop_price (float): price below which profit is closed.

Returns:

dict: details of the order if successful, otherwise none.

"""

base_url = "


Create the content of the order request

data = {

"type": order_type,

"side": "buy",

Or sell

"limit_price": stop_loss_price,

"stop_price": trailing_stop_price,

"symbol": get_order_ymbol(symbol),

"leverage": 1,

Use default leverage if not specified

}

try:

response = requests.post(

f"{base_url}?symbol={symbol}&type=order",

json = data,

headers={

"X-MBX-APIKEY": client_id,

"X-MBX-TS": int(client_secret),

},

)

response.raise_for_status()

Raise HTTP error exception

return response.json()

except requests.exceptions.RequestException as e:

print(f"Request failed: {e}")

return None

Usage example

Here is a stop order for Ethereum USDT (ETH/USDT):

stop_loss_price = 10000.0

$10,000 stop-loss price

trailing_stop_price = 2000.0

$2000 profit lock price

order_details = place_trailing_stop_order(

"limit", "ETHUSDT", stop_loss_price, trailing_stop_price

)

if order_details:

print ("Stop order successfully executed!")

else:

print ("Failed to place trailing stop order.")

Important Notes

  • Risk Management: Trading with a stop order requires careful risk management to avoid losses due to price fluctuations.
  • Leverage: Be careful when using leverage (e.g. 100:1) to manage your risk and reward.
  • Order History: Review your order history regularly to ensure that your trailing stop is working as intended.

Cross chain, Dai (DAI), Fork

Here’s an article about the crypto, cross-chain, dai (DAI) fork and its implications:

“Dai Fork Delivers: How Cross Chain Innovation Transformed the Cryptocurrency Market”

In recent months, the cryptocurrency space has witnessed a rise in innovative solutions that disrupt traditional protocols. One such solution is Dai (DAI), which is gaining popularity due to its potential to revolutionize the way we think about cross-chain interactions.

What is Cross Chain?

Cross Chain refers to the ability of different blockchain networks to communicate seamlessly with each other, allowing assets to be transferred across multiple chains. This innovation has long been a topic of debate in the cryptocurrency community, with some arguing that it would lead to centralization and market volatility.

Dai (DAI) Fork: A Game-Changer

The Dai fork was launched in March 2021, marking a major milestone in the development of cross-chain solutions. The fork enabled DAI to be sent across multiple chains, including Ethereum (ETH), Binance Smart Chain (BSC), and other blockchain platforms.

Key Features of the Dai Fork

Cross chain, Dai (DAI), Fork

A few key features set the Dai fork apart:

  • Decentralized Governance: The Dai fork is governed by a decentralized autonomous organization (DAO) called the DAO on Ethereum. This governance structure allows for community decision-making, ensuring the protocol remains decentralized and resilient.
  • Cross-chain Transfer: As mentioned earlier, DAI can be sent across multiple chains using cross-chain protocols such as Serum or Cosmos. This feature enables the creation of decentralized exchanges (DEXs), lending platforms, and other applications that require access to assets from different blockchains.
  • Stablecoin: Dai is a stablecoin, meaning its value remains relatively constant relative to traditional fiat currencies. This stability makes it an attractive asset for investors looking for diversification.

Implications of the Dai Fork

The Dai diagnosis has far-reaching implications for the cryptocurrency market:

  • Cross Chain Liquidity: By enabling cross-chain transfers and access to assets from different blockchains, Dai provides a pool of liquidity that can facilitate decentralized trading across multiple platforms.
  • Decentralized Finance (DeFi): The Dai Fork has opened up new possibilities for DeFi applications, including lending, borrowing, and yield farming. These applications will enable users to create complex financial instruments without the need for traditional intermediaries.
  • Market Volatility: The Dai Fork has helped mitigate market volatility by providing a decentralized and resilient asset that can be transferred across multiple chains.

Conclusions

The Dai Fork represents a significant step forward in the development of cross-chain solutions. By enabling decentralized governance, cross-chain transfers, stablecoin features, and access to pools of liquidity from different blockchains, Dai is poised to revolutionize the cryptocurrency market. As the Dai fork evolves, we can expect to see even more innovative applications that push the boundaries of what is possible in cryptocurrency.

References:

  • Serum White Paper
  • Cosmos TPS White Paper
  • DAO on Ethereum’s Governance Structure

Solana: Error: Received message greater than maximum (1970303084 vs. 67108864). Yellowstone-grpc-geyser. NodeJS

Error Handling in Solana: The YellowgRPC Geyser Plugin

As a developer working with the popular Solana blockchain, you have probably encountered issues when building applications that use the Yellowstone-grpc geyser plugin. In this article, we will dive deeper into Solana’s error handling mechanism and explore how to resolve the “Error: Received message larger than maximum” issue.

What is the Yellowstone-grpc Geyser Plugin?

The Yellowstone-grpc geyser plugin allows you to build a Solana RPC client that leverages the power of the grpc library for gRPC service discovery. This plugin provides a simple way to manage and interact with your application’s services, while keeping your codebase organized and maintainable.

Error: Received message is larger than maximum

Solana: Error: Received message larger than max (1970303084 vs 67108864). Yellowstone-grpc geyser. NodeJS

When attempting to retrieve data from your locally deployed RPC server using the Yellowstone-grpc geyser plugin, you may encounter an error when attempting to handle large messages. This issue occurs because the max parameter set in the gRPC client options is too small to handle massive payloads.

Solana throws the error “Error: Received message larger than maximum” when it encounters a message that exceeds the maximum allowed size. This can happen due to a variety of reasons, including:

  • Large amounts of data being sent over the network.
  • Inconsistent message lengths across different services
  • Misconfigured RPC server settings

Solution

To resolve this issue, you need to adjust your gRPC client options to handle larger messages. Here are some steps to take:

  • Update the max parameter: Increase the max parameter in the gRPC client options to support larger payloads. You can do this by adding a new option to the ClientOptions object, like this:

`javascript

const client = new Client({

//... other settings...

options: {

maxMessageSize: 67108864, // increase the default of 1970303084

},

});


  • Specify message length: You can also specify a fixed-length message to ensure that your RPC server does not receive unnecessarily large messages.

Here is an updated example:

javascript

const client = new Client({

//... other settings...

options: {

MaxMessageSize: 67108864,

maxLength: 2000, // set a maximum length for the message

},

});

  • Test and refine: Once you've made these adjustments, test your application thoroughly to ensure it works as expected. Improve your gRPC client code as needed to accommodate larger payloads.

Conclusion

By understanding how the Yellowstone-grpc geyser plugin works and adjusting your options accordingly, you should be able to resolve the “Error: Received message larger than maximum” issue when retrieving data from your locally deployed RPC server. Remember to test and refine your application after making these adjustments to ensure a smooth experience for your users.

Sample code

Here's an example of how you can update your gRPC client code using the updated options:

javascript

constant Client = require('@triton-one/yellowstone-grpc');

async function getHelloWorld() {

const client = new Client({

//... other settings...

options: {

Max message size: 67108864,

maxLength: 2000, // set a maximum length for the message

},

requestHandler: async (request, response) => {

console. log('Message received:', request. message);

response. send({ data: 'Hello world!' });

},

});

try {

const { data } = await client. getHelloworld();

console. log(date);

} catch ( error ) {

console. error(error);

}

}

getHelloWorld();

`

This updated code increases themaxMessageSizeoption and sets a fixed-length message (maxLength`) to ensure that your RPC server does not receive unnecessarily large messages.

How to minimize risks when using a Hot Wallet for Crypto?

How ​​to Minimize Risks When Using Hot Wallets for Crypto

The world of cryptocurrency trading has evolved significantly over the past decade, with platforms like Bitcoin and Ethereum becoming increasingly popular. Among these platforms is the use of hot wallets, which allow users to store their cryptocurrencies securely on a computer or mobile device. However, as with any financial instrument, there are risks associated with using hot wallets that can be mitigated by taking certain precautions.

What are Hot Wallets?

A hot wallet is an electronic storage system for digital assets such as cryptocurrency. Unlike cold wallets, which store physical assets in a safe or bank vault, hot wallets access the stored assets on a regular basis to manage and trade them. Hot wallets provide instant access to your cryptocurrencies and can be easily accessed from any device with internet connectivity.

Risks Associated with Hot Wallets

While hot wallets offer numerous benefits, there are several risks that users must be aware of:

  • Phishing Attacks: Hackers may attempt to steal your login credentials or other sensitive information by phishing emails or fake websites masquerading as legitimate ones.

  • Password Cracking: If you use weak passwords or do not change them frequently enough, hackers can potentially crack them and access your hot wallet.

  • Data Breaches: Hot wallets can be vulnerable to data breaches if they are compromised, which could result in the theft of sensitive information such as private keys.

  • Malware Infections: Your computer may become infected with malware or viruses that can compromise your hot wallet and other digital assets.

How ​​to Minimize Risks When Using Hot Wallets

To minimize the risks associated with using hot wallets, follow these best practices:

  • Use a Secure Password: Choose a strong password that is difficult for hackers to guess. Consider using a passphrase or a phrase that is easy to remember but hard to crack.

  • Enable Two-Factor Authentication (2FA): Enable 2FA on your hot wallet to add an extra layer of security. This will require you to enter a code sent to your phone or email in addition to your password.

  • Keep Your Hot Wallet Software Up-to-Date: Regularly update your hot wallet software and plugins to ensure that you have the latest security patches and features.

  • Use a Hardware Security Token (HST)

    How to Minimize Risks When Using Hot Wallets for Crypto

    : Consider using an HST, which is a physical token that stores your private keys offline and can be used for secure transactions without exposing your computer or mobile device to the internet.

  • Be Cautious with Emails and Messages: Be wary of emails or messages claiming to be from your hot wallet provider offering suspicious services or promotions. Verify the authenticity of these messages by contacting your provider directly.

  • Use a Secure Browser: Use a secure browser that has built-in security features such as tracking protection, sandboxing, and phishing protection.

  • Back Up Your Hot Wallet Data: Regularly back up your hot wallet data to an external drive or cloud storage service in case of a data breach or loss.

  • Monitor Your Account Activity: Regularly check your account activity for any suspicious transactions or login attempts.

Conclusion

While hot wallets offer many benefits, there are risks associated with using them. By following these best practices, you can minimize the risks and enjoy a secure and reliable experience when trading cryptocurrencies. Remember to stay vigilant and be proactive in protecting yourself from potential threats.

Additional Resources

  • [Cryptocurrency Security Guide]( A comprehensive guide to securing your cryptocurrency wallet

  • [Hot Wallet Security Tips](

using stablecoins transactions

Bitcoin: Xpub used to create vendor addresses, btc not visible in wallet. How do you choose the required derivation path?

The Dark Side of Xpub: Why Your Bitcoin Wallet May Not See BTC

As a seasoned cryptocurrency user, you’re probably familiar with the quirks and complexities of managing your digital assets. One quirk that has confused many users is the phenomenon where Bitcoin (BTC) addresses generated using the Xpub derivation path are not recognized by their corresponding wallets. This article will explore the reasons behind this issue and provide guidance on how to choose a suitable derivation path for your wallet.

What is Xpub?

Xpub, also known as XPrivate or Private Key 1 (XpK), is a type of Bitcoin address derived from an X11 private key. It is called “Xpub” because it uses a different syntax and format than traditional Bitcoin addresses, which are generated using the X12 public key.

Why doesn’t my wallet see BTC?

There are several reasons why your wallet may not recognize BTC addresses generated using Xpub:

  • Wallet settings: Your wallet configuration may be set to ignore or block certain types of keys, including those derived from Xpub.
  • Key storage: The key used to generate the Xpub address may not be securely stored in your wallet.
  • Key management

    : If you have multiple wallets with different security settings, it’s possible that the correct one is not being used.

Choosing the appropriate derivation path

To resolve this issue, it’s essential to understand the differences between the different derivation paths and choose the one that best suits your specific needs. Here are some factors to consider:

  • Security: If you prioritize security, use P2PKH (hierarchical private key) or SPK (self-signed key) derivatives that provide greater protection against key compromise.
  • User benefit

    Bitcoin: Xpub used to create vendor addresses, btc not seen in wallet. How choose which derivation path is needed?

    : Consider using the X12 (Xpub) derivation path if you prefer a clearer address syntax.

  • Wallet compatibility: Check if your wallet supports the specific derivation path used by your Bitcoin client or software.

Common execution paths and their characteristics

Here is a quick summary of some popular derivation paths:

  • Xpub (X12): Uses the X11 public key; easy to use, but may not be supported by all wallets.
  • P2PKH (Hierarchical Private Key): More secure than Xpub, but requires multiple keys for each address; suitable for large-scale applications or decentralized finance (DeFi) projects.
  • SPK (Self-Signing Key): Provides higher security than P2PKH; only used by wallets that support self-signing.

Recommendations

Based on the above considerations, here are some recommendations:

  • If you are new to Xpub addresses, consider using the SPK derivation path for added security and convenience.
  • If you need a clearer address syntax, use P2PKH or X12 (Xpub).
  • Make sure your wallet supports your chosen execution path.

Conclusion

Bitcoin’s unique address format can be challenging to work with, especially when it comes to choosing the right execution path for your wallet. By understanding the basics and factors that influence wallet behavior, you will be better equipped to navigate this complex world of cryptocurrency management. Remember to prioritize security, convenience, and compatibility when choosing a derivation path, and don’t hesitate to reach out to us if you have any additional questions or concerns.

Ethereum Centralized Decentralized

Ethereum: how can I figure out my computer’s hash rate? [duplicate]

Finding Your Computer’s Hash Rate: A Step-by-Step Guide

Ethereum: how do I figure out the hash rate of my computer? [duplicate]

As a cryptocurrency enthusiast, it’s important to understand your computer’s processing power in order to optimize its performance and participate in the Ethereum network. In this article, we’ll show you how to calculate your computer’s hash rate, especially with an AMD A4-5300 APU (Accelerated Processing Unit) as your integrated graphics processor.

What is hash rate?

Hash rate refers to the number of cryptographic hash operations per second performed by a computing device. In other words, it measures how quickly your computer can process and verify transactions on the Ethereum network. A higher hash rate indicates more computing power, making it easier for you to mine Ethereum or participate in decentralized applications.

Tools for calculating hash rate

You need a few tools to get started:

  • CPU-Z: This free software tool provides detailed information about your computer’s hardware components, including the AMD A4-5300 APU.
  • Hash Rate Calculator: We use this online tool to calculate the hash rate.

Step-by-step instructions

  • Open CPU-Z: Launch the CPU-Z application on your Windows system or locate it in your Linux distribution.
  • Find the AMD A4-5300 APU: In the System Information tab, locate the “AMD Radeon HD 7480D” graphics card. This is your integrated graphics processor.
  • Access system properties: Right-click on “AMD Radeon HD 7480D” and select “Properties”.
  • Hash Rate Settings: Click the General tab to find the Hash Rate field (usually under Processor) or navigate to Performance > Hardware > “System Information”. In either case, your hash rate will be displayed.
  • Check Hash Rate

    : Use the online hash rate calculator to confirm your value.

Ethereum Hash Rate Calculator

If you don’t want to use a graphical user interface, we can also calculate your Ethereum hash rate using the following formula:

Hash Rate (MH/s) = 1 / Time (seconds)

Where:

– Time is the time it takes your computer to perform 1,000 hash operations.

Example Calculation

Let’s say it takes you about 5 seconds to perform 1,000 hash operations. Your Ethereum hash rate would be:

Hash rate (MH/s) = 1 / 5 s ≈ 0.2 MH/s

Please note that this calculation is an estimate and may vary depending on your specific hardware configuration and usage patterns.

Conclusion

Using the software tool CPU-Z and some basic knowledge of your hardware components, you can easily determine your computer’s hash rate. Understanding your hash rate will help you optimize its performance and get the most out of your Ethereum mining or decentralized application experience. Don’t forget to check your values ​​with an online calculator for more accuracy.

Tips and Recommendations

  • To improve your hash rate, make sure your computer’s operating system is up to date and consider running a dedicated antivirus program.
  • Experiment with different hardware configurations and software updates to find the optimal configuration for your specific situation.

*Remember that Ethereum’s block time is currently 15 seconds (as of 2021). This means that you can use this rate to mine Ethereum or participate in decentralized applications.

Happy computing and we hope this article was helpful in optimizing your computer’s performance!

Bitcoin: Is it possible to reduce the field size without disrupting the generation of public keys?

Reducing Bitcoin Field Size Without Disrupting Key Generation

The field size used in cryptographic algorithms, such as elliptic curve cryptography (ECC) like Secp256k1, is typically measured in bits and can vary depending on the specific implementation. In this article, we’ll explore whether it’s possible to reduce the field size of Bitcoin without compromising its functionality.

Bitcoin’s Field Size

The current secp256k1 field size for Bitcoin is 256 bits (32 bytes). This may seem excessive, but it’s actually a deliberate design choice that provides significant security benefits. By using a larger field size, Bitcoin’s developers can minimize the number of key operations required to perform cryptographic computations.

Reducing Field Size

To reduce the field size without disrupting key generation, we need to consider the following factors:

  • Compression: The most significant contributor to increased field size is compression. We’ll explore methods to compress the field.

  • Bitwise manipulation: Another approach is to use bitwise operations to reduce the number of bits required for each field.

  • Error correction: We can also optimize error correction mechanisms, such as Reed-Solomon coding, to further minimize field size.

Compressing Field Data

Bitcoin: Is it possible to reduce the field size without disrupting generation of public keys?

One method to reduce the field size is through data compression. There are several approaches:

  • Zipping: Compressing secp256k1 fields using zipping algorithms like LZMA or DEFLATE can significantly reduce the field size.

  • Lossless compression: Optimizing data structures, such as trees or arrays, to eliminate unnecessary bits and improve compression ratios.

Bitwise Manipulation

Another way to reduce field size is through bitwise manipulation:

  • Signed integer representation: Using signed integers instead of unsigned integers can reduce the number of bits required for each field.

  • Field extension: Extending the field size by introducing new, non-standard fields (e.g., secp384r1) can help reduce the total field size.

Error Correction

Optimizing error correction mechanisms like Reed-Solomon coding or other methods can also help minimize field size:

  • Data structures with redundant bits: Using data structures that store redundant information to eliminate unnecessary bits.

  • Compression of redundant data: Compressing redundant data within the same block.

Results and Conclusion

Our analysis indicates that it is possible to reduce Bitcoin’s field size without disrupting key generation while maintaining its cryptographic integrity. By applying compression, bitwise manipulation, and error correction techniques, developers can optimize the secp256k1 implementation for lower field sizes (e.g., 130 bits) without compromising security.

However, it’s essential to note that any changes to the secp256k1 implementation should be carefully tested and validated to ensure they do not introduce vulnerabilities or security issues.

In conclusion, reducing Bitcoin’s field size is a viable option for optimizing performance while maintaining cryptographic integrity. By exploring compression, bitwise manipulation, and error correction techniques, developers can create a more efficient secp256k1 implementation that meets the needs of modern applications without compromising security.

TRADING MARKET SENTIMENT

Metamask: Why is it necessary to track some transactions in order to see them?

Metamaska: Why Some Transactions Require Tracking to Be Visible

When it comes to cryptocurrency transactions, transparency and visibility are key to ensuring trust and accountability within the ecosystem. However, one of the key challenges that arises is when certain types of transactions require tracking, meaning they must be visible on the blockchain in real time. In this article, we’ll explore why Metamask, a popular Ethereum-based wallet, requires tracking for some types of transactions.

What is tracking in cryptocurrency transactions?

Tracking refers to the process of discovering the origin and destination of cryptocurrency transactions on the blockchain. This can be useful for a variety of purposes, such as detecting potential double-spending attacks or tracking the movement of funds within a wallet. In the Ethereum ERC-20 token standard, which governs the transfer of ETH tokens, original transfers (i.e. direct exchanges between wallets) are typically untraceable.

Native ETH Transfers vs. Non-Native ETH Transfers

To understand why tracking becomes necessary for certain types of transactions, let’s compare native ETH transfers to non-native ETH transfers:

  • Native ETH Transfers: These transactions take place directly between two Ethereum wallets without any intermediary. In contrast, non-native ETH transfers involve wrapping or converting ETH tokens into another asset (e.g. ERC-20 tokens) before transferring them.
  • Non-Native ETH Transfers: These transactions require the use of specialized tools and techniques to track their origin and destination on the blockchain.

Why is tracking necessary for non-native ETH transfers?

To understand why tracking is necessary for non-native ETH transfers, consider the following:

  • Private Transactions: When ETH tokens are transferred between wallets using wrapping or conversion, they become private transactions. This means that the recipient’s wallet and the sender’s wallet are not visible on the blockchain in real time.
  • Lack of Transparency: Non-native ETH transfers are not transparent because the transaction is not visible to anyone except the parties involved (i.e. the recipient and the sender).
  • Risk of Double Spend Attacks: By not tracking non-native ETH transfers, users are at risk of being double-spent on these transactions. If a malicious actor were to exploit this vulnerability, they could potentially spend Ethereum tokens twice without anyone noticing.

Metamask Tracking Requirements

Metamask: Why some transaction need tracing to be possible to saw them?

Given the reasons above, Metamask requires tracking for certain types of transactions, including:

  • ERC-20 Wrapped Token Transfers: These transfers involve wrapping ETH tokens in ERC-20 tokens, which can be used to transfer them between wallets.
  • ERC-20 Unwrapped Token Transfers: In addition to wrapped token transfers, unwrapped token transfers also require tracking to ensure transparency and prevent potential double-spend attacks.

Conclusion

In conclusion, tracking is a key feature for cryptocurrency transactions that requires real-time visibility on the blockchain. Metamask’s requirements for tracking native ETH transfers, as well as non-native ETH transfers, highlight the importance of transparency and accountability within the Ethereum ecosystem. By understanding why tracking becomes necessary for certain types of transactions, users can better navigate the complexities of cryptocurrency transactions and protect themselves from potential risks.

METAMASK TRANSACTION WEB3