The Beginner’s Guide to DAI

DAI is a decentralized stablecoin that facilitates lending, borrowing, and investing in decentralized applications (dApps). The cryptocurrency market has a reputation for being highly volatile. For example, some of the most significant cryptocurrency tokens, such as Bitcoin or Ethereum, surge and plummet daily. These spikes often bring traders huge ROI or crippling debt. Nevertheless, not all cryptocurrencies experience this level of volatility. For instance, stablecoins rarely experience massive oscillations. Instead, their values remain constant with their pegged counterparts, which are…

Tyler Winklevoss: Ether (ETH) and Filecoin (FIL) are the new Amazon

Gemini CEO and cryptocurrency billionaire Tyler Winklevoss recently highlighted some similarities between some cryptocurrency projects and their centralized counterparts. According to him, Ethereum and Filecoin are the cryptocurrencies most likely to be used on a large scale. Tyler Winklevoss compares Ether and Filecoin to Amazon The Gemini exchange boss is known for his pro-cryptocurrencies statements on social media. In a series of tweets yesterday, Winklevoss highlighted some crypto projects that he believes will last the test of time. According to him,…

Silk Road’s Infamous Founder Proposes a Remake of the Maker Protocol

Ross Ulbricht, the brains behind the infamous Silk Road website, recently penned down a piece on the Maker Dao Protocol. Ross, who is currently serving a life sentence, coined the protocol as a ‘cool concept’ that provided the benefits of a cryptocurrency without the volatility usually associated with them.  In his Medium article, Ross acknowledged that he couldn’t have gotten all the details on Maker while behind bars. He, however, believed that he had read enough to give some suggestions…

Dai’s Trading Volume in Latin America Surges During Pandemic

More people in Latin America have shown interest in Dai over the previous several months due to the economic troubles aggravated by the coronavirus pandemic. The local news outlet iProUP reported that the trading volume of MakerDAO’s stablecoins was four times during quarantine in Argentina, as it became $20 million daily from $5 million. This shows that Latin America is moving to the Safety of Dollar-Pegged Stablecoins because of the absolute debt and hyperinflation. Hence, the people chose to deal with…

Beginner’s Guide to MakerDAO – Resolving the Fight Against Volatility

The DeFi Ecosystem Decentralized Finance, or more commonly known as DeFi, is the newest trend in the cryptocurrency sector. After "Colored Coins," Smart Contracts, and ICOs, DeFi has taken the limelight. It has opened the door to a whole new branch of decentralized technologies. Among the several hundreds of projects that focus on bringing Decentralize Finance to the masses, none has been as successful as the MakerDAO Network. The Need for MakerDAO The MakerDAO is a decentralized smart contract platform…

Stablecoins Explained – The Distinct Cryptocurrency Instrument

Data reveals that the overall market cap of stablecoins stands at over $35 B as of January 21, 2021. On top of that, the trading volumes are gradually rising as the crypto instrument closes in the $90 billion marks.  Investing in the digital asset world has become a difficult task for goal-oriented minds. However, the onset of stablecoins has proven to be a useful tool for trading in the market today. Stablecoins can be described as cryptocurrencies tied to other valuable…