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How Localethereum Works

Localethereum Promises Quick Crypto-to-fiat Trades

Localethereum Promises Quick Crypto-to-fiat Trades

Localethereum promises quick crypto-to-fiat trades Above: Cryptocurrency doesn't look like this, but I needed a picture for this story. Almost nine years after Bitcoin launched, trading cryptocurrency with fiat currencies remains difficult and expensive, with the space dominated by centralized exchanges charging high transaction fees and not always delivering the user experience and level of service you expect. Exchanges like Coinbase and Kraken (and many more like them) force you to go through time-consuming anti-money laundering and know-your-customer (KYC) processes before they allow you to trade any significant amounts. After submitting your photo ID and other documents, youre often left waiting weeks for the exchange to process your request, due to difficulties they have handling the influx of new users. When your identity has been verified and you want to deposit or withdraw funds, you have to deal with the long waiting times of international bank transfers, and the processing fees from the exchange. For anyone doing frequent or large transactions, these fees add up. The many incidents of exchanges losing or misplacing customer funds Mt. Gox in 2014 being the biggest and most famous breach, with Bitfinex last year on second place have given the exchanges a bad reputation among both traders and holders of cryptocurrency, who refrain from storing their coins on the exchanges when possible. Since 2012, Finnish Bitcoin startup company LocalBitcoins has been facilitating over-the-counter trading of local currencies for Bitcoin. The peer-to-peer exchange is like eBay for Bitcoin, giving users the opportunity to securely buy and sell Bitcoins to and from each other for free . You can sell your Bitcoin via multitude of payment methods without having to give anyone your I Continue reading >>

How Our Escrow Smart Contract Works

How Our Escrow Smart Contract Works

The official blog of localethereum.com. Follow us for updates on security and the crypto-financial ecosystem. Many of you have been asking for details on how the localethereum.com escrow smart contract works. The contract is live now, and has already been used successfully to conduct hundreds of over-the-counter ether trades. This blog post might get pretty technical, but Ive tried my very best to keep it light. For those that dont know, escrows on localethereum.com are executed using an open source Ethereum smart contract . At no point during a trade can we touch your ether. The only time where we can step is when we get explicit permission to resolve a dispute, and even then we can only direct the ether to one of the parties of the trade. Using localethereum.com, an ordinary trade works like this: The buyer and seller confirm and agree on the terms of the trade. The seller places the ether into the smart contract (with one click). This provides proof-of-funds and allows for a much safer trade. The buyer makes payment directly to the seller. The seller successfully confirms the payment, and releases the escrow. Trade complete! A party raises a dispute, and brings in a third-party arbitrator, giving them the keys to decrypt the messages and work with both parties to make a resolution. The smart contract allows users to safely exchange ether with one another, and to name a trusted third-party to mediate a trade if a dispute arises. Currently, the trusted mediator is always localethereum.com, but the contract will be adapted in the future to switch over to a reputation-based distributed arbitrator pool. This post goes over the first version of our smart contract, which we expect to be replaced one day. Technically, escrows are not directly linked to trades on localethere Continue reading >>

Localethereum Review

Localethereum Review

LocalEthereum is a peer to peer marketplace similar to LocalBitcoins, where individuals can buy or sell Ethereum without the need for a centralized exchange. Unlike its cousin LocalBitcoins though, it offers more robust features, and a much slicker user interface for traders. Their smart contract based escrow allows for users to exchange goods in a safe and affordable way. The seller places their coins in the escrow contract, and then they are locked until the trade is ready to be completed. This creates a trustless system for trading without the need of a third party. While only founded in November of 2017, the platform has quickly garnered a fanbase among ETH holders looking for a place to swap their coins for fiat. Since this is a peer to peer marketplace, there are no verification procedures as there would be with a centralized financial institution. Thats because you are trading with individuals, and these laws do not apply in most places, though New York is a notable exception to this rule. LocalEthereum is located in Australia, and it allows traders from any country to participate in the exchange. Traders will not be subject to any regulations, but If you are a resident of Australia you will be charged GST. Members outside of Australia are not subject to any taxes. LocalEthereum is big on security, this is likely due to the huge number of security dangers that LocalBitcoins accounts are subject to everyday. As a result, the platform offers many different tools to help users secure their accounts, and you would be wise to take advantage of them. They also require that at least one 2 factor protocol be used whether by email verification or app based authentication. This choice will be left up to you. Assets on the LocalEthereum exchange are stored in a browser bas Continue reading >>

Localethereum: Localbitcoins For Ethereum [eth P2p Market]

Localethereum: Localbitcoins For Ethereum [eth P2p Market]

LocalEthereum: LocalBitcoins For Ethereum [ETH P2P Market] By: Sudhir Khatwani In: Ethereum Last Updated: P2P cryptocurrency markets are slowly and steadily getting attention. P2P markets and P2P crypto exchanges are a popular alternative to centralized exchanges. And why not? We know that centralized exchanges are prone to attacks and have been hacked time and again. And while P2P markets currently lack a lot of liquidity, they will certainly become a much stronger presence in the crypto world in the near future. These P2P markets open up a new possibility of buying/selling your favorite crypto directly in fiat, plus there are no headaches or frustrations around documentverifications/cancellations/etc. <br /> Can't load widget<br /> One of the biggest P2P exchanges is LocalBitcoins . But it currently only offers trading of Bitcoin . So thats why this new Ethereum P2P market sprang up. Its called LocalEthereum. ( Visit Website ) But its not just a LocalBitcoins clone; its actually implemented in a much better way. In this introduction of LocalEthereum, I will address the following points: LocalEthereum is a peer-to-peer ether portal that allows its users to swap ether (ETH) and fiat (USD, GBP, EUR, etc.) directly with other people, using end-to-end encryption and decentralized Ethereum-powered escrows . Through this platform, trading parties can trade in different ways via online bank transfers or online cash trades. While it is certainly not as old as LocalBitcoins , it is more secure because they are using Ethereum-powered smart contracts. The platform is currently available in English and Chinese. LocalEthereum just launched on 23rd October 2017 with more than 800 P2P offers of ether in 80 fiat currencies (however it had been in developme Continue reading >>

Github - Consensys/local_ethereum_network: Creating A Local Ethereum Blockchain

Github - Consensys/local_ethereum_network: Creating A Local Ethereum Blockchain

If nothing happens, download GitHub Desktop and try again. If nothing happens, download GitHub Desktop and try again. If nothing happens, download Xcode and try again. If nothing happens, download the GitHub extension for Visual Studio and try again. Compare This branch is 4 commits ahead of krisrandall:master. $ brew update$ brew upgrade$ brew tap ethereum/ethereum$ brew install ethereum sudo apt-get install software-properties-commonsudo add-apt-repository -y ppa:ethereum/ethereumsudo apt-get updatesudo apt-get install ethereum (Note: This step is simply so "/projects" can be used in all other commands, instead you could use full paths, or set an env var) $ mkdir $ sudo ln -s /projects 3. Create local_ethereum_blockchain folder Create this file : /projects/local_ethereum_blockchain/genesis.json { "config": { "chainId": 1000, "homesteadBlock": 0, "eip155Block": 0, "eip158Block": 0 }, "nonce": "0x0000000000000061", "timestamp": "0x0", "parentHash": "0x0000000000000000000000000000000000000000000000000000000000000000", "gasLimit": "0x8000000", "difficulty": "0x100", "mixhash": "0x0000000000000000000000000000000000000000000000000000000000000000", "coinbase": "0x3333333333333333333333333333333333333333", "alloc": {}} $ geth --datadir /projects/local_ethereum_blockchain/node1 init /projects/local_ethereum_blockchain/genesis.json $ geth --datadir /projects/local_ethereum_blockchain/node1 --networkid 1000 console $ geth --datadir /projects/local_ethereum_blockchain/node-2 init /projects/local_ethereum_blockchain/genesis.json $ geth --datadir /projects/local_ethereum_blockchain/node-2 --port 30304 --nodiscover --networkid 1000 console Continue reading >>

Building A Local Ethereum Network With Docker Andgeth

Building A Local Ethereum Network With Docker Andgeth

Building a local Ethereum network with Docker andGeth The following article describes how I set up a private, local Ethereum blockchain for development purposes. I assume readers to have a basic understanding of blockchains, Ethereum and Docker. If you are not interested in this process but only want a working out-of-the-box solution to host your own private network, feel free to pull the results from my GitHub Repo: I am still learning how to interact with the Ethereum network, how to build Apps and how to write smart contracts. While there are several test networks that can already be used by developers, working with them is not always easy. You need to synchronize the state, you need to participate in mining (or get yourself some Ether from the faucets) and you need a constant internet connection. This makes working on these networks very hard if you are on the road. At first, my plan was to create a Docker image with a single node, which can be contacted with RPC. Due to the great Ethereum documentation, this was achieved in an hour, so I wondered if it was possible to set up a whole network which can be started with a simple docker-compose up command, without the need of any configuration. I tried to find a working solution on GitHub and on Blogs, but most of them required some configuration after the containers were started (creating accounts, adding peers manually,). The process of setting up such a self-contained network was harder than I first expected, but I learned a lot about geth and the Ethereum network while trying to achieve this. When we set up a new network, we need to make sure that the nodes will be able to find each other. Theoretically, the nodes should be able to discover each other, if they are on the same network. As we need our network to be i Continue reading >>

How To Buy 1 Local Ethereum Quickly?

How To Buy 1 Local Ethereum Quickly?

Ethereum has been the talk of the town for quite some time now. This new altcoin has successfully established itself as the second most popular cryptocurrency in the world after Bitcoin. A cryptocoin that runs on an incredible blockchain network and features the exception smart contract, Ethereum is one popular decentralized system created by developer Vitalik Buterin in the year 2013. You can use Ethereum to codify, trade, or secure anything and everything, starting from domain names, voting, crowdfunding, intellectual property, financial exchanges, company governance, as well as contracts and agreements of any and every kind. The currency on the Ethereum platform is popularly known by the name Ether. One must buy Ether in case he or she wishes to use the popular Ethereum platform. The best part is, Ether can also be traded or mined like Bitcoin and many other exchanges, solely on the Ethereum platform. The complete stock of Ether exchange and its insurance rate was determined by the funds and donations accumulated during the presale in 2014. The founders of this platform claim that Ether is much more than a traditional cryptocurrency- it is the fuel that runs the Ethereum network. This evidently establishes the fact that one cannot purchase goods online using Ether. Nonetheless, you can trade Ether or rather, invest in it, and then wait for the prices to go up so that you can later expect a good return of investments. Or you can start Ethereum Mining services which will definitely help you earn good, without taking much of your time. You can simply download GitHub, the official wallet app for the Ethereum platform, or choose between EthereumWallet and MyEtherWallet. One of the best ways to buy Ether is through Ether exchanges. It is crucial that you understand the di Continue reading >>

What Is Localethereum?

What Is Localethereum?

Peer-to-peer marketplaces are quickly becoming more popular in the world of Bitcoin and other cryptocurrencies. With LocalBitcoins and LocalMonero recently taking off, its been evident other currencies wouldsee similar platforms moving forward. It appears Ethereum is the next major currency to take the localroute, as itsversion of LocalBitcoins is now open for registration. It will be interesting to see how LocalEthereum performs in the coming months. Buying and selling altcoins has become a lot more convenient over the past few years. Although users will always have to rely on centralized exchanges or brokers to purchase any significant amount of a specific altcoin, things are slowly improving in this regard. Having more competition in these markets can only be seen as a positive thing; that much is certain. In fact, it appears peer-to-peer marketplaces are the way forward for some of thetop altcoins. Not too long ago, the Monero community was introduced to LocalMonero . It tooka page out of the LocalBitcoins playbook by providing a peer-to-peer marketplace for XMR users. This was a positive development, especially considering thatusing centralized exchanges to buy or sell decentralized currency is not the best way of doing business whatsoever. We need to createmore decentralized or peer-to-peer solutions, rather than relyon centralized infrastructure which forces users to give up control over their funds. This is where LocalEthereum comes into the picture, as it aims to provide a peer-to-peer marketplace service toEthereum enthusiasts around the world. This platform has been in development for some time now, as the first code was written in late 2016. Adaptingthe LocalBitcoins concept to Ethereum is not as simple as it seems. While users can currently register for an Continue reading >>

How To Quickly Buy Ether With Localethereum

How To Quickly Buy Ether With Localethereum

How To Quickly Buy Ether With Localethereum Today we start our journey on becoming a better cryptocurrency trader together. First step? Buy the ether we need to buy some tokens on an exchange like Radex This is the first of a series of articles that will help you get ready and start using Radex as a trading platform for your Ethereum tokens. We will cover a range of topics, from general user guides about using the exchange and even trading strategies you can adopt. All with the goal of making you a better trader, but you are not going to get anywhere if you dont know how to quickly buy ether with Localethereum. "Quick, Safe and easy" is how localethereum promote themselves. So I decided to have a quick look and see if that really was the case. The outcome? It really was very simple as long as you follow a couple of ground rules for peer-to-peer trading. One thing to remember straight off the bat is that localethereum is not an exchange and does not act as a middleman or take any deposits. This is a place where you can search and find over-the-counter traders. It may mean you trade with a broker, a business or even an individual much like yourself. This means that you do not have to worry about localethereum running away with your coins, however, you do have to be careful with who you decide to do business with. Due to end to end encryption, conversations held on the platform cannot be monitored, this is done intentianally to preserve the anonymity of localethereums user base. So if your spidey sense starts to tingle and you believe someone is acting with bad intentions, for example, they are refusing to put ETH in escrow. Then it may be best to just stop talking to that individual and report the user. The more users that are called out to be fraudulent, will help make Continue reading >>

Localethereum Review - Is It Scam Or Safe?

Localethereum Review - Is It Scam Or Safe?

As we have said in the beginning, LocalEthereum works with fiat currencies, which is definitely an advantage, especially for newcomers in the crypto-verse. What is more, the platform works with various fiat currencies and multiple payment methods. LocalEthereum supports an impressive selection of payment methods in fiat currencies, depending on the country and the personal preferences of their users. There is the option to pay in cash, national bank transfer, European bank transfer (SEPA), Skrill, Paypal, Western Union, MoneyGram, QIWI, AdvCash and more. Of course, these payment methods come with additional commissions and fees. In addition to fiat currencies, LocalEthereum supports payments in Ethereum, through its proprietary Ethereum wallet. As a P2P p, LocalEthereum allows its users to trade directly with each other without any third party processing the trades. Besides, messages between buyers and sellers are encrypted, transactions are protected by smart contracts, and identities are secured by digital signatures. So, even if there was a hack, nobodys messages or finances would be at risk. Of course, the company does not control the users coins or funds in any way. The P2P model has some implications, though. You can find more details about it in the Disadvantages section of our review. LocalEthereum is operated by an Australian company, but its services are available in more than 100 countries worldwide, including New Zealand, United States, Russia, China, Venecuela, United Kingdom, Canda, India, and more. Similarly to LocalBitcoins , where can be traded only Bitcoins, LocalEthereum is a place where traders can buy or sell solely Ethereum. There are no other coins listed. So, if you want to buy other popular cons such as Bitcoin, Ripple, or more exotic cryptocur Continue reading >>

How Ethereum Works - Coindesk

How Ethereum Works - Coindesk

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Now that we've covered what ethereum is, let's dive deeper into how the platform functions under the hood. Consider the online notebook application described in " What is Ethereum? " Using ethereum, the appdoesn't require one entityto store and control its data. To accomplish this, ethereum borrows heavily from bitcoin's protocol and its blockchain design, but tweaks it to support applications beyond money. Ethereum aims to abstract away bitcoin's design, however, so that developers can create applications or agreements that have additional steps, new rules of ownership, alternative transaction formats or different ways to transfer state. The goal of ethereum's 'Turing-complete' programming language is to allow developers to write more programs in which blockchain transactions could govern and automate specific outcomes. This flexibility is perhaps ethereum's primary innovation, as explained in the guide " How Ethereum Smart Contracts Work ". The structure of the ethereum blockchain is very similar to bitcoin's, in that it is a shared record of the entire transaction history. Every node on the network stores a copy of this history. The big difference withethereum is that its nodes store the most recent state of each smart contract, in addition to all of the ether transactions. (This is much more complicated than described, but the text below should help you get your feet wet.) For each ethereum application, the network needs to keep track of the 'state', or the current information of all of these applications, including each user's balance, all the smart contract code and where it's all stored. Bitcoin uses unspent transaction outputs to track who has how muchbitcoin. While it sounds more complex, the id Continue reading >>

Hasty Market Bitcoin Install Local Ethereum Statum Proxy Ubuntu Ppa

Hasty Market Bitcoin Install Local Ethereum Statum Proxy Ubuntu Ppa

Hasty Market Bitcoin Install Local Ethereum Statum Proxy Ubuntu Ppa Process Ventriloquism Spencer McIntyre. Windows desktop systems typically do not run SNMP services by default but these can be enabled for testing. Infosec in the 21st century Tim Crothers. Matt Hancock, the new culture and digital secretary, said: He puts the spotlight Litecoin Yearly Chart Cryptocurrency Mergers other artists. David has posted yet another patch working on further optimizing the performance of this unofficial Radeon Vulkan driver living within Mesa. But in the end, the FSB will get what it wants. In this case, there had been litigation pending in New Mexico state court. Not Even One Shade of Gray: Since AJAX requests and regular request work the same way since they both follow the rules of the HTTP protocolthe AJAX request can be pen-tested using the same tools and tecniques used with the more traditional requests. Vic Iglesias, a solutions architect at Google, noted in a blog post that Skaffold allows developers to more closely mirror production methods within an enterprise. Chris Silvers - Go With the Flow: In the first group are the major state sponsors of Islamist terrorism, the two most important of which Hasty Market Bitcoin Install Local Ethereum Statum Proxy Ubuntu Ppa key British allies with whom London has long-standing strategic partnerships Saudi Arabia and Pakistan. I turned on automatic updates! Breaking in Bad I'm the one who doesn't knock Jayson E. While it happens on occasion, the reason that trademark bullying works is Convert Bitcoin To Litecoin Coinbase How To Buy Cryptocurrency In Nz to the costs for any sort of defense, nevermind the cost that would be required to actually go on the offense against a bully. Because the default player might not be feature-rich, it Continue reading >>

Local Ethereum Review - Private Marketplace For Ether Currency Trading?

Local Ethereum Review - Private Marketplace For Ether Currency Trading?

Local Ethereum describes itself as Ethers local private marketplace. Read our Local Ethereum review to find out how it works today. Local Ethereum, found online at LocalEthereum.com, is a private marketplace where you can spend Ether in exchange for fiat currencies. The marketplace plans to bridge the gap between Ether and offline currencies using smart contracts and in-browser cryptography. Together, these features make Local Ethereum the most private way to buy or sell Ether for offline currencies. One of the unique things about the Local Ethereum platform is that its a web-based peer-to-peer exchange where all communications are encrypted. Messages between buyers and sellers are encrypted from end-to-end, transactions are protected by smart contracts, and identities are secured by digital signatures. The developers behind Local Ethereum have been building the platform over the past 8 months. Development is 80% complete as of May 30 2017. Once the project reaches 100% completion, it will undergo a thorough security audit, then launch onto the internet. The ultimate goal of Local Ethereum is to offer a local, peer-to-peer marketplace that vastly enhances the usability of Ether as a cryptocurrency. Youll be able to access the marketplace through your web browser without installing any additional plugins or software. It will just be like an ordinary online marketplace but with highly-secure Ether transactions. Here are some of the key features that have already been built into the Local Ethereum platform. Theres no need to install any third-party apps or plugins to use Local Ethereum. The platform is based entirely on the internet and is accessible through any ordinary internet browser. It does this while living up to modern cryptography standards. The secret behind Loc Continue reading >>

Localethereum.com Review- A Good Idea Poorly Done

Localethereum.com Review- A Good Idea Poorly Done

LocalEthereum.com Review- a good idea poorly done We love Ethereum and were excited to hear about LocalEthereum.com . It was touted as the Ethereum version of LocalBitcoins.com . We happily signed up and right away we noticed that the default 2FA they require is through email. It is awesome that they require 2FA. Email is a slow way to do it and if someone has your passwords it means they can likely also access your email so it isnt very secure. We found that Account>Security>2FA allowed us to change it to Google Authenticator. We decided to post some ads and waited. While we were waiting we got an email that we could sign up for a referral link but the page didnt work. And waited. And waited. For the first few weeks or so, nothing. Then the scammers came. There are 3 of us that have accounts on LocalEthereum. We have 7 ads between us. We have had 46 people start trades with us and only 2 of those were legitimate buyers/sellers. Then they website wouldnt fund the trade correctly so that was an issue. The other 44 were scammers. 96% percent of our trades on LocalEthereum were scams. We asked LocalEthereum about this and this was their response. Thanks for sending that list through, i can confirm they are all suspended from the platform, most were automatically picked up by our anti-fraud measures. We are looking into many different ways of eliminating scammers, the biggest hurdle being that because the site is private we want to eliminate the ability of users to false report for personal gain. We are working very hard behind the scenes to implement an easier way, until then we can be contacted here at any time. When we check the profiles they claimed were suspended, every profile was still showing. There is no notification on a profile that the account has been banned ( Continue reading >>

Localethereum Review Peer-to-peer Ether Buying

Localethereum Review Peer-to-peer Ether Buying

Localethereum is a worldwide marketplace for people to buy and sell Ether. Its a peer-to-peer marketplace where buyers and sellers can pick out each others listings and make a deal. You can find people trading ETH with your local currency and choose whatever payment method works best for you as long as the other trader is happy with it. For security and safety, it uses an Ethereum-powered escrow service to securely hold funds until transactions are concluded, and its end-to-end encryption means buyers and sellers can communicate in complete privacy. Before trading, you will need to have an Ethereum-compatible cryptocurrency wallet . The buyer and seller confirm and agree on the terms of the trade. The seller places the Ether into a Localethereum escrow smart contract. This provides proof of funds and shows that they actually possess the Ether theyre selling. From here, the seller confirms the payment, at which point escrow is released and the trade completed. Generally, either party has a couple of hours to cancel a trade and withdraw their funds from escrow if its not in order. If something is off, either party can raise a dispute. Localethereum then brings in a third-party arbitrator and gives them the keys to decrypt the communication between the parties. After looking at the communication, the arbitrator reaches a decision. In what countries is Localethereum available? This service can be used anywhere in the world, although some locations will have more traders than others. What fiat currencies does Localethereum accept? You can use any currency in the world with this exchange as long as you can find other traders using it. You can use any kind of payment as long as both parties agree to it. The most popular vary by location, but the main ones include the followin Continue reading >>

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