Gate.io Adds 2 Assets to 'Perpetual Contracts' Product

On a blog post published on January 18, cryptocurrency exchange Gate.io reported the launch of ‘Perpetual Contract Trading’ for two new assets, XMR and XLM.

According to the post, perpetual contracts grant investors the ability to profit off of selling digital assets either short or long, similar to futures contracts. Unlike futures contracts, however, perpetual contracts have no expiration date.

At the moment, the maximum deposit for each investor is just 1 BTC. However, “it can be raised according to the market risk and rank of the investor in the future,” the post explained.

Perpetual contracts were launched on Gate.io’s Android app earlier this week on January 16, offering options in BTC, ETH, EOS, XRP, BCH, BSV, LTC, ADA, and TRX.

A similar product was launched on Shanghai-based cryptocurrency exchange OKEx in December. “Perpetual Swap works similarly to futures contracts. However, there is no expiry and settlement occurs daily, allowing traders to withdraw their profits on a daily basis,” Finance Magnates reported at the time.

Gate.io Recovers from Recent Loss of Funds in Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term Classic Network Attack

The addition of the new assets into Gate.io’s perpetual contracts is positive news for the exchange after what has been a rather rough month. On January 7, the exchange published a report saying that the 51% attack that had hit the Ethereum Classic network had taken a heavy toll. The exchange lost more than $271,000 as a result of the attack.

Then, a week later, Gate.io published news that $100,000 of the missing funds had allegedly been returned by the hacker to the exchange.

The recent ETC 51% hacker has returned $100k worth of ETC back to https://t.co/8kWqgDWNXb on the 10th of January. We have raised the ETC confirmation number to 4000 and launched a strict 51% detection for enhanced protection.

See details: https://t.co/xX8cVIWdC2 pic.twitter.com/MUQX3hpMPV — gate.io Exchange (@gate_io) January 12, 2019

The reason behind the alleged return remains unclear. “We were trying to contact the attacker but we haven’t got any reply until now,” the post said. “We still don’t know the reason. If the attacker didn’t run it for profit, he might be a white [hat] hacker who wanted to remind people [of] the risks in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term consensus and hashing power security.”