Maker

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…

Last week, Decentralized finance (DeFi) protocol known as Compound was able to implement its initial two community-driven governance proposals. The launching of the protocol’s governance token (COMP) aimed at the facilitation of community-driven protocol upgrades and development is on the way. First Governance Proposal For Compound The community was given the opportunity to choose the assets they want to be added to Compound in September last year and most people chose Maker (MKR) and Tether (USDT). Hence, based on the…

Decentralized Finance, 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 hundreds of projects focusing 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 on Ethereum. It is one of…

DeFi, short for decentralized finance, is the latest hot trend in the crypto industry, and rightly so. An emerging market that surged from $1 billion to $40 billion in less than three years cannot go unnoticed for too long. As you read this beginner's guide to DeFi, the sector is adding more protocols, increasing value, and becoming an even more formidable rival to the traditional finance system. It may be too early to bet your bottom dollar on it, but…