The myDexChain mobile app is downloaded.
What is Dex-Confirmer?
Transfer transactions that take place on decentralized blockchains are confirmed by the miners included in the blockchain network. In myDexChain, these confirmations are carried out by Dex-Confirmers. Dex-Confirmer approval is the verification of the validity of the transactions included in the new block to be added to the blockchain, by checking them with the algorithm of the blockchain.
For a transfer to be considered valid, it must be confirmed by one or more miners on the blockchain where the transaction is made. For example, a transfer transaction on the Bitcoin network must receive 1 miner approval to be considered valid, while an Ethereum transfer must receive 12 confirmations to be considered valid. On the myDexChain network, transfers need 15 confirmations to be considered valid.
How are Miner Approval Periods Determined?
Miner approval times vary according to the infrastructure of the blockchain, the algorithm used, and the mining method. In general, blockchains with Proof of Work (PoW) mining take longer to approve than Proof of Stake mining. The fact that each cryptocurrency has a different miner confirmation period is due to the block found times. In the Bitcoin blockchain, where blocks are verified with Proof-of-Work mining, the block time is around 10 minutes, while in the Ethereum blockchain, which works with Proof-of-Work mining, the block time is around 15 seconds. In myDexChain, this time takes 1 second. In the myDexChain Blockchain, one Block is closed every hour while the other Block remains open. The closed block is submitted for the approval of the Users for 1 hour. So Transfers automatically receive 15 confirmations and are done. They queue up to be approved in the open Block. When the block is closed, validators begin to approve. Confirming users can make their transactions until the next block is closed. Confirmed blocks take their place on the chain.
How to get Dex-Confirmer Earnings?
Some features and requirements are needed to generate Dex-Confirmer revenue. Let us now examine them in turn.
- You must have at least 1 DXC Coin in your wallet.
- You can increase your earnings according to the amount of DXC in your wallet.
- You can earn income from a minimum of “1” and a maximum of “10,000” DXCs. The more DXC coins you have in the wallet, the more Reward Coins you are entitled to.
- Your DexLife packages do not affect Dex-Confirmer revenue.
- If any of the blocks that are closed every hour are approved, reward coins are earned over that block.
- Not all approvers can win Rewards. Approving users in the Top 51% of the total number of Dex-Confirmers involved in the approval process can earn Rewards.
- Closed blocks are reflected in Dex-Confirmers' mobile wallet according to the Activity status in the time zone before the block is closed. E.g ; A user who does not log in to the mobile application between 13:00 and 14:00 will approve the block that is closed at 14:00 and cannot be approved.
- The block to be confirmed appears in the "Confirm" section. It is confirmed with the “Confirm All” button. You can follow the blocks you have approved in the "LOG" section.
The first time Dex-confirmer user must enter the Dex-Confirmer tab from the menu section of the Mobile application and activate this section to become a Dex-Confirmer.