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The Zap Protocol (ZAP) operates as a decentralized infrastructure provider and cryptocurrency. The network combines a variety of useful features to simplify the creation and integration of smart contracts. The protocol incorporates a DEX, NFT launchpad, and data feeds in a unique manner.  The goal of the project is to reduce the friction encountered by Dapp developers when integrating external data in blockchain-based smart contracts.

What Problems Does the Zap Protocol (ZAP) Solve?

There are a lot of issues that the Zap Protocol helps to alleviate. Primarily, the platform’s oracle marketplace helps to reduce centralization and technical restrictions slowing large-scale blockchain adoption. Today’s smart contracts can handle advanced functionalities which incorporate real-world data. In this way, they enable a new level of efficiency across multiple industries.

The Zap Protocol (ZAP) provides an open platform for creating, sharing, and monetizing deterministic oracles from data feeds. This data originates from off-chain sensors known as oracles. For example, you could set up an oracle to monitor exchange rates, sports scores, IoT sensor data, and much more.

Zap Protocol (ZAP) - Homepage

Oracles can send and receive data and trigger smart contracts on the blockchain. However, because these sensors are often centralized source feeds, they reduce the decentralization of the entire network. Consequently, whenever an oracle provides slow or incorrect data, it can affect the validity of the blockchain. Recognizing these shortcomings, the Zap Protocol enables developers to create Ðapps that incorporate outside data via decentralized oracles in a more streamlined manner.

Ethereum Scaling Issues

The Zap protocol serves a vital role as a layer 2 solution. Its unique technical structure alleviates Ethereum congestion and lowers Gas fees. Second layer protocols are common in the market today. They function by removing some aspect of a transaction from the blockchain.

Network Data Delays

Delays in oracle data transmission can limit developer’s capabilities. The Zap Protocol is structured to provide seamless access to oracle data across an excellent selection of use cases. As such, the platform has a disruptive potential across a wide range of global industries, including finance, insurance, real estate, and shipping.

Benefits of the Zap Protocol (ZAP)

The Zap Protocol also provides a number of benefits that make it ideal for developers For one, the platform is a multifunctional blockchain solution for a wide range of applications. The network offers tokenizing services, low fees, secure transactions, and earning opportunities.

Flexibility

Dapp developers enjoy a high level of flexibility when operating within the Zap Protocol ecosystem. The open nature of the marketplace ensures that there is always an excellent selection of oracles available. Notably, developers even encourage the creation of duplicate oracles. This strategy enables the network to provide more reliable multi-sourced data feeds.

Zap Protocol (ZAP) - Twitter

Zap Protocol (ZAP) – Twitter

ROI Potential

The Zap Protocol (ZAP) was built with a goal to incentivizes oracle creation. Anyone can become a data provider on the network. Data providers are incentivized to publish secure data feeds from a variety of endpoints. This strategy provides new monetization opportunities for individuals and emerging economies.

Interestingly, data streams are monetized via resource-specific bonding markets. Zap was one of the first platforms to integrate bonding curves into the smart contract equation. A bonding curve is simply a mathematical concept that is used to describe the relationship between price and the supply of an asset.

How Does the Zap Protocol (ZAP) Work?

The Zap Protocol lives on the Ethereum network. The developers created it as a second layer that could simplify Ethereum smart contract creation and oracle integration. As such, Zap Protocol developers gain access to advanced features such as the ability to set bonded pricing curves.

Zap Oracle Marketplace

The Zap Oracle Marketplace is where users can create and access oracles with ease. The platform operates as a prediction market for data. It provides instant access to oraclized data feeds from across the globe. Notably, anyone can create, list, and sell, data feeds on this open market.

Oracle Network

The oracle network is comprised of Zap Protocol data feeds. Keenly, the project’s developers seek to operate a robust, source agnostic data-sharing platform to empower the next generation of Dapp developers. To accomplish these tasks, the developers removed all of the technical barriers related to oracle integration.

Starting an Oracle

The first step in creating a new Zap Protocol oracle is for both the provider and subscriber to bond their ZAP. This process is similar to staking in that you will lock your tokens up in an individual oracle. Once the oracle is bonded, the provider and subscriber will then gain control over an oracle-specific integer value known as Dots.

The amount of ZAP necessary to bond to produce one Dot is determined by a price/supply curve. Notably, one dot is equal to one query to its respective oracle. This information is delineated by the data provider during oracle creation.

Nick Spanos - Zap Protocol Co-Founder

Nick Spanos – Co-Founder

Subscribers

Data feed subscribers must stake ZAP tokens to data providers in exchange for data-provider-specific access tokens. This task is done by bonding Zap to the desired oracle which then redeems a quantity of Dots. Subscribers must also select the conditions upon which they will receive data and provide an IPFS key pair for encrypted peer-to-peer communications to subscribe.

NFT Marketplace

Zap Protocol users can create non-fungible tokens using the NFT marketplace. The NFT marketplace provides users with a place to buy, sell, and trade their creations. Content creators, artists, influencers, athletes, and celebrities can utilize this platform to connect with their fans in new and exciting ways.

NFTs differ from regular cryptocurrencies in that they represent a unique asset. As such, their value isn’t determined by their market cap. Instead, factors such as scarcity and personal demand dictate the value of these tokens. This unique pricing structure has led to NFTs selling for millions of dollars. Consequently, NFTs are one of the fastest-growing sectors in the blockchain industry.

DEX

The Zap DEX (decentralized exchange) enables users to trade ERC-20 tokens securely. The Zap DEX provides fast transaction times and low fees when compared to centralized platforms like Coinbase or Binance. Best of all, the DEX is non-custodial. This designation means that your coins remain safely stored in your wallet until they are traded in a peer-to-peer transaction with the other party.

Non-custodial exchange users never have to worry about not having access to their tokens. There is no centralized organization to lock you out of your account, block trades, or confiscate your assets. The entire DEX operates as pure code. In this way, it remains free from human error.

Zap Development Tools

The Zap Development tools are designed to streamline the creation of monetizable, encrypted peer-to-peer data feed subscriptions. These tools remove the technical barriers associated with integrating data feeds into oracles for use in smart contracts. This section also features extensive documentation, tutorials, and other helpful tips to get your project off the ground.

ZAP

ZAP is the main utility and governance token of the network. ZAP is an ERC-20 token. As such, it resides on the Ethereum blockchain. As an ERC-20 token, ZAP users are privy to significant interoperability within the market. You can trade ZAP on any ERC-20 compliant exchange.

ZAP Markets - CoinMarketCap

Markets – CoinMarketCap

ZAP is listed on a variety of centralized platforms which has helped to deepen the liquidity of the token. Users must hold ZAP to interact with the Zap Protocols features and DEX. The total supply of ZAP is capped at 520,000,000 tokens. There is currently 236,144,465.00 ZAP in circulation.

Community Governance

Another cool aspect of the Zap Protocol is its focus on community. This quarter will see the platform integrate its community governance mechanisms. Once the contracts and Treasury are transferred to governance token holders, the community will gain the ability to vote on all vital upgrades. These upgrades can include anything from coding alterations to changing the fee structure of the network. Community governance systems are gaining in popularity because they ensure that only those that are invested in the network get a say in its development.

History of the Zap Protocol (ZAP)

The Zap Protocol launched in May 2017 and is based out of Switzerland. The platform was co-founded by Benjamin YoungNick Allen, and Nick Spanos. The network has seen considerable growth since its launch date. Notably, the platform secured $7 million in funding to start the project. Over $2 million came from an ICO held from Oct 20 – Nov 20, 2017.

How to Buy Zap Protocol (ZAP)

Poloniex – Founded in the US in 2014, Poloniex has quickly risen to become a very popular exchange of choice for many crypto traders looking to combine a strong range of assets, with great value. They are currently the best exchange to buy Zap Protocol (ZAP) for all international users.

Read our Poloniex Review or visit Poloniex.

Zap Protocol (ZAP) – Providing Relief to Ethereum Users

The Zap Protocol is positioned excellently in the market at this time. The current record high Ethereum congestion has led to gas fees skyrocketing. The Zap protocol enables users to avoid these fees and still benefit from the overall security of the Ethereum blockchain. As such, the Zap Protocol should see continued adoption as more features and services go live.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Fx Analysis

Chart Art: Back-to-Back Yen Plays With AUD/JPY and GBP/JPY

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It may be the last trading day of the week in the forex market but that doesn’t mean you can’t sneak in a couple of pips before you close shop!

Check out AUD/JPY and GBP/JPY’s downtrends on the 4-hour chart.

Think you can make pips from these setups?

AUD/JPY 4-Hour Forex Chart
AUD/JPY 4-Hour Forex Chart

AUD/JPY is consolidating at the 81.25 area!

And why not? The level not only hits the 50% Fib retracement of last week’s downswing, but it also lines up with a mid-channel resistance AND a broken support earlier this month.

If you’re an Aussie bear, you can start loading them shorts as soon as you see some momentum. The 80.20 previous low is a good initial target but you can also aim for new monthly lows if the (bearish) force is strong enough.

Feeling like buying the Aussie instead? Look for new weekly highs for AUD/JPY and see if an upside breakout can lead to a retest of the 100 SMA closer to the channel resistance.

GBP/JPY 4-Hour Forex Chart
GBP/JPY 4-Hour Forex Chart

Don’t worry, you’re not seeing double. Guppy is showing us a similar setup, yo!

GBP/JPY is about to reach the 152.25 area that lines up with not only the 100 SMA but also the descending channel resistance that started gaining traction in late June.

This time, pound bears also have the support of a hidden (read: continuing) divergence on the chart.

Now who’s ready to sell GBP/JPY? The most recent candlesticks haven’t exactly hinted at a reversal yet, so keep your eyes peeled for the start of some selling. July’s lows are a good level to target but make sure you also lock in pips along the way in case the pound doesn’t go back to its previous support.

If you’re confident that the pound has seen its lowest levels against the yen this month and that GBP/JPY will break above its trend line resistance, then you gotta design trading plans around a possible upside breakout.

Good luck and good trading, my dudes!

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Fx Analysis

Weekly Forex Market Recap: July 19 – 23

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After a volatile start to the week on covid-19 fears, markets calmed down to a steady recovery by the end of the week.

The Canadian dollar was the top dog among the majors, not only rising with the recovery in risk, but also likely on rising oil prices as traders forecasts tightening supplies.

Notable News & Economic Updates:

Intermarket Weekly Recap

Dollar, Gold, S&P 500, 10-yr Treasury Yield, Bitcoin, Oil
Dollar, Gold, S&P 500, 10-yr Treasury Yield, Bitcoin, Oil

Risk aversion sentiment hit the markets at the start of the week as traders priced in fears that the recent rise in the covid-19 cases around the world would weaken the economic recovery. On the chart above, we can see the turn lower in risk assets (i.e., equities, oil, and bitcoin), as well as a fall in U.S. Treasury yields.

That sentiment lasted through Tuesday’s session, where a bottom in risk aversion sentiment seemed to quickly form, despite a lack of attributable news events or headlines. With no apparent catalysts for the shift in sentiment, that bottom was likely a “buy the dip” move by traders.

In the currency space, safe havens like the euro, yen, and Greenback benefited from the risk-off moves on Monday and Tuesday, and as expected in this environment, the comdolls were hard hit early on.

But as positive risk sentiment slowly recovered through the rest of the week, the comdolls eventually took the top spot among the majors, lead the Canadian dollar. The Loonie’s out performance was likely boosted by the swift recovery in oil prices as traders speculated that oil supplies would tighten.

The euro had the most notable scheduled event of the week for currency traders with the latest monetary policy statement from the European Central Bank. This event came inline with the expectations that the ECB would remain accommodative, raised their inflation goal to 2%, and re-iterated that they’re not too eager to pull emergency support anytime soon. Euro volatility quickly pick up quickly on the event, ending with the euro lower on the session.

USD Pairs

Overlay of USD Pairs: 1-Hour Forex Chart
Overlay of USD Pairs: 1-Hour Forex Chart

GBP Pairs

Overlay of GBP Pairs: 1-Hour Forex Chart
Overlay of GBP Pairs: 1-Hour Forex Chart

EUR Pairs

Overlay of EUR Pairs: 1-Hour Forex Chart
Overlay of EUR Pairs: 1-Hour Forex Chart

CHF Pairs

Overlay of CHF Pairs: 1-Hour Forex Chart
Overlay of CHF Pairs: 1-Hour Forex Chart
  • No major news or catalysts from Switzerland this week. Price action was mainly influenced by broad risk sentiment as discussed earlier.

CAD Pairs

Overlay of CAD Pairs: 1-Hour Forex Chart
Overlay of CAD Pairs: 1-Hour Forex Chart

NZD Pairs

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart

AUD Pairs

Overlay of AUD Pairs: 1-Hour Forex Chart
Overlay of AUD Pairs: 1-Hour Forex Chart

JPY Pairs

Overlay of Inverted JPY Pairs: 1-Hour Forex Chart
Overlay of Inverted JPY Pairs: 1-Hour Forex Chart

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Fx Analysis

One Simple Trick to Avoid Overtrading

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Most forex newbies often think that taking more trades leads to catching more profits.

The more setups you take, the better your chances of winning, right?

WRONG!

This isn’t the lottery, y’all!

Overtrading refers to taking so many trade setups to the extent that you lose your market edge.

One of my favorite trading psychologists, Dr. Brett Steenbarger, explains that the root of overtrading is the mismatch between one’s profit expectations and market volatility.

In other words, traders often feel the need to catch multiple market moves in order to hit their goals.

While it’s helpful to set trading goals, there’s one major problem with this line of thinking.

The market does not move based on your expectations!

This kind of mindset may lead a trader to overestimate his trading skills in an effort to reach his targets and mentally convince himself that he’s had a good trading day.

While this may work in some cases, it can wind up being harmful to your trading psychology when it makes you feel invincible and overconfident that you can trade in absolutely any market environment.

If you often catch yourself in this situation, don’t beat yourself up! It’s much more common than you think, and it happens even to seasoned traders.

You see, most of us have been conditioned to think that we must work harder and do more in order to achieve better results. While clocking in your 10,000 hours of deliberate practice has its merits, it’s a misconception to think that working harder equates to taking more trades.

Working hard means taking the best (a.k.a. high probability) trade setups.

This could involve waiting patiently or sitting on the sidelines if you have to. Doing nothing and refraining to take a trade when it’s not aligned with your strategy is a trading decision in itself.

Of course this is much easier said than done, so here’s one simple trick that can help you avoid overtrading:

Take only ONE TRADE each day.

That’s right, no exceptions. If you catch a big win, you’re done for the day. If you snag a loss, you’re done for the day.

Day trading coach and author Galen Woods calls this the One Bullet Action Plan.

Setting this absolute one-trade rule forces you to think like you have just one bullet left, which means that you have to aim properly and pull the trigger at the right time in order to make the most out of your only shot.

It sounds so simple, but it requires a lot of work.

You have to comb through the charts and all the available setups to see which ones line up with your strategy, so this addresses the psychological need to “do more.”

You must be extra picky in filtering out the “best” one for the day and at the same time be alert in catching the move.

Keep the wisdom of the great American philosopher Eminem in mind: “You only have one shot, do not miss your chance.”

What about undertrading?

Don’t worry about that just yet. Far more traders wipe out their accounts from overtrading than undertrading.

Once you are able to easily avoid overtrading, you’ll be able to fine-tune your market edge.

From there, sticking to high-probability setups will be like second nature to you, helping you stay consistently profitable in the long run.

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