DeFi

What Does Ethereum Do That Other Platforms Can’t? Dapps, or decentralized applications, are a part of the whole Smart Contracts ecosystem. Running dapps on the general-purpose, multi-faceted Ethereum blockchain offers added security benefits. Since the transactions are distributed and encrypted across the Ethereum blockchain, there is no central place for a hacker to breach and gain access. It is unanimously considered that Ethereum is perhaps the best platform for building dApps. Thanks to its very own language, Solidity, this enables developers…

In recent times, the blockchain-based payment network Ripple said it was looking for an individual to occupy the position of a “Director of Product Management, Loans.” The company posted the job opening on its official website some time ago, with a description that shows its plan to introduce a new loan product to assist its users with working capital loans. “RippleNet traditionally served its customers with a cross border payment offering, however Ripple is expanding into loans.  This person will bring a…

The General Protocols startup has been able to raise over $1 million in a seed funding round. It is now working on the development of its Decentralized Finance (DeFi) on Bitcoin Cash (BCH). This funding round enables the team based in Singapore to come up with their flagship product AnyHedge on Bitcoin Cash. As an open source derivatives tool, Anyhedge allows the creation of new markets with smart contracts when embedded by exchanges and OTC desks. The investors that provided…

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…

While the potential of blockchain and cryptocurrency is only starting to gain interest in the general population, developers and innovators have been busy. They are continuously creating the infrastructure and applications needed to usher in the future of the internet, transactions, communication, and more. Opera's Crypto Wallet is one of such futuristic inventions that Opera launched in 2018 as an Ethereum-based built-in native cryptocurrency wallet for PC, Android, and iOS users. It lets you make secure online payments with cryptocurrency directly…

On April 21, Dharma, an Ethereum-based peer-to-peer lending platform announced what it called Social Payments (a Twitter-native financial system) on Twitter. According to the peer-to-peer platform, it is launching the new system that allows Twitter users to accept payments in US dollars. “Introducing social payments – a Twitter-native financial ecosystem. Today, you can send USD to any Twitter handle, regardless of where that person lives — even if they don’t have a Dharma account. Now every Twitter handle accepts (and earns…

One of the biggest waves in the cryptocurrency world is synthetic assets. Given that there are always new exchanges coming up every day, it is plausible to have one dedicated to these assets.  Synthetix is one such exchange that lets users trade and mint decentralized synthetic assets. Through the platform, users also get on-chain exposure to any asset. This article will take an in-depth look at the relatively new platform and its offerings.  What is Synthetix? Before looking at the…

The crypto space has grown tremendously, but more progress has yet to be made regarding lending and borrowing digital assets. However, many companies are taking a step in this direction, and Aave is a perfect example.  Aave is an open-source DeFi protocol that allows users to borrow and lend digital assets. The platform has traditional loan features and several unique features that make it stand out.  This article will review the platform, understand its features, and how it works.  What…

The Covid 19 pandemic has exposed the world's financial system to tremendous challenges. The United States government proposed a jaw-dropping $2.2 trillion bailout for the stock market. All this was to act as a relief measure to the current crisis within the traditional markets. Such interventions point to centralization being a powerful and indispensable feature in the traditional financial system. Equitable and Faster Wealth Distribution But reports point to the existence of a huge challenge regarding wealth distribution of this…