Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,070 trillion. Bitcoin is down by nearly 2% after intense seesawing this week. Ethereum increased by almost 2% over the past seven days. XRP lost more than 1% in value this week. Almost all altcoins are trading in the red, with a few exceptions. The DeFi sector decreased the total value of protocols (TVL)…
DAI
Dai Stablecoin Exaplained
Dai is a decentralized stablecoin pegged to the U.S. dollar's value. It is built on the Ethereum blockchain and is created and managed by a decentralized autonomous organization (DAO) called MakerDAO. The value of DAI is maintained through a system of collateralized debt positions (CDPs) and a dynamic system of collateral auctions. Users can create Dai by depositing cryptocurrency as collateral into a CDP and then borrowing Dai against the value of that collateral. The value of the collateral is…
3 weeks ago 112 views
What is MakerDAO (MKR)?
MakerDAO is a decentralized autonomous organization (DAO) built on the Ethereum blockchain that aims to provide a stable coin called DAI, which is pegged to the value of the U.S. dollar. The core component of MakerDAO is a system of smart contracts that governs the creation and redemption of DAI. Users can "lock up" ether (ETH), the native cryptocurrency of the Ethereum network, as collateral in the system, and in return, they can mint an equivalent value of DAI. The…
4 weeks ago 98 views