Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Decentralized Finance, also known as DeFi, is a quickly evolving and increasingly integral part of the blockchain space, especially on the Ethereum protocol. If proponents are correct, the technology could lead to greater financial autonomy among users while undercutting financial rent-seekers and reducing costs. During a time of unprecedented monetary policy and limitless quantitative easing, such an accomplishment has implications far beyond Ethereum and the DeFi space.
Nevertheless, as the financial system is re-engineered on-chain, several innovations are still required to establish ease and security of use as well as financial stability. The Kyber Liquidity Protocol is one such link in the chain, aiming to create a more fluid and user-friendly financial experience. Focused on creating a decentralized source of liquidity, this liquidity pool, market maker-like blockchain project is gaining traction as an increasingly integral part of the DeFi system.
When it comes to building and hosting DeFi protocols, Ethereum pretty much rules the roost. As per DeFi Pulse, a staggering $872.20 million is locked up in Ethereum-based DeFi. However, as it turns out, Bitcoin has been making impressive leaps in the DeFi department themselves. In this article, we are going to go through some of these Bitcoin DeFi apps. Before we do so, let’s go through the basics first.
While cryptocurrencies plan on creating an open currency system that gives you complete control over your own money, DeFi aims to take things a little further by building a public, global, and all-inclusive alternative to all the financial services in the world. As ambitious as this sounds, this was previously impossible on the Bitcoin blockchain. However, with the advent of Ethereum and smart contracts, such implementations soon became probable.
Smart contracts allow developers to create decentralized applications or dApps. As the name...
Software engineers have been on a tear for the past decade. Salaries for those working in the tech field are soaring. Moreover, the advent of remote jobs means opportunities working for high-profile companies are opening up even to those living in comparatively remote areas. As such, virtually anyone with the determination and interest can now become a software engineer.
Just getting paid a ”normal” software engineer salary can already seem like a dream to many. In fact, the typical software engineer salary in the US is almost $100,000 per year, according to Glassdoor salaries. However, the advantage of being so in-demand is that software engineer can virtually decide their own salaries if they have the right skills.
Consequently, many software engineers are now looking to boost their salaries. The past decade’s tech boom has made developers the new rockstars. One of the most effective ways to do this...
Cryptocurrency staking is a central concept for cryptocurrencies. In essence, it is the process of parking funds in a cryptocurrency wallet to support a blockchain network's functionalities and operations. It usually consists of cryptocurrency locking so that the user can receive rewards. In most cases, the entire process depends on the users participating in the blockchain activities through any personal crypto wallet, something on the lines of Trust Wallet. The concept of cryptocurrency staking draws parallel to the Proof of Stake Mechanism (PoS).
Proof of Stake and Staking were introduced by Sunny King and Scott Nadal back in 2012. Initially, the concept was based on a hybrid PoW/PoS mechanism, but it later snapped out of this and embraced the Proof of Work (PoW) platform. With this, users were able to mine and support the project well in its early stages without the need to become entirely dependent on the PoS system. Later in 2014, the...
Ray Dalio is the founder of Bridgewater Associates, a global macro investment firm that is currently the world's largest hedge fund earning a whopping $49 billion for its investors. A best-selling author, Mr. Dalio, regularly shares his knowledge through articles and videos. I will be focusing primarily on his latest piece, The Big Cycles Over The Last 500 Years, and the role Bitcoin could play should his projections prove to be accurate.
Ray Dalio's theories about market cycles are too involved to cover in one post, so I have focused solely on the portions that I believe are most relevant to Bitcoin. Namely, the long-term money and debt cycle, the rise and fall of empires and reserve currencies, populism, and their interconnection to one another. Could we soon see the death of the dollar?
We've all heard the adage, "Those who do not learn from history are doomed to repeat it." For Ray Dalio, this played out before his eyes when President Nixon...
In the early days of cryptocurrencies, the MtGox case was often brought up as a cautionary tale among crypto-enthusiasts. Specifically, MtGox was the biggest Bitcoin exchange to undergo a hack where most funds were stolen. How can you trust Bitcoin if these things may happen? This argument, which is very often used against cryptocurrencies, is somewhat misleading both for non-users and new users. In fact, poor understanding of the MtGox events is often behind the lack of Bitcoin education and generally, of lack of understanding crypto currencies.
So what was MtGox and what did really happen? At the beginning of 2014, MtGox was the biggest Bitcoin exchange in the world; its dominance was 70%. As such, its dominance was far more than today's biggest exchanges. It seemed to be destined to become the undisputed giant of this sector. Furthermore, the exchange is Japanese, as many suspect Satoshi Nakamoto (the creator of Bitcoin) might have been. However, in February...
We are currently watching the creative destruction and decline of the US empire before our very eyes. In enduring the onslaught of the ongoing COVID-19 coronavirus pandemic, the US is facing “a riddle, wrapped in a mystery, inside an enigma”. What's more, the nation is pulling out all the stops in hopes of making America great again.
However, there are dark clouds looming on the horizon. unlimited QE, tepid growth, a worsening trade war with China, a possibility of a COVID-19 coronavirus resurgence in the fall, the highest unemployment rate in history, unfunded pension liabilities, deflation, hyperinflation, and the list goes on. With the unprecedented printing of money currently taking place, the average person may now well be asking themself “why should I pay taxes if money can be printed out of thin air”?
Not since Machiavelli, who wrote “The Prince” in the 16th...
The word "cryptocurrency" has two components to it - "cryptography" and "currency." As you can imagine, cryptography is at the heart and soul of cryptocurrency. Asymmetric and symmetric encryption are the two main cryptography methods, and this guide breaks them both down. Read on for a fascinating insight into the world of cryptographic encryption!
Cryptography constructs and analyzes protocols to prevent outside parties from reading confidential information. Cryptography utilizes mathematics, physics, communication, information technology, and computer science. Aside from cryptocurrencies, cryptography is widely used in fields like computer passwords, military comms, and electronic commerce.
The goal of cryptography is to convert plaintext to ciphertext and back. Plain text is just a standard text written in any human-understandable language, like English, and it is easy to decode. On the other hand, the ciphertext is...
Being wealthy does not consist merely of owning vast amounts of either "stuff" or of units of value that others feel great desire, or even "FOMO", for. Holding ten thousand tickets to the most popular concert in the world does not constitute wealth. Why is that the case, if these tickets are so desirable and, therefore, are in high demand? Simply because wealth is based on future desirability and future demand too, not only on today's. As a matter of fact, in this simple example, even if receiving these tickets as a gift, who wouldn't go crazy trying to dump them today immediately? Who wouldn't want to move as quickly as possible to another asset different that these tickets, some type of reserve of value that could preserve the present degree of desirability?
Caring about the value is critically more important than caring about the asset evidently. The asset where one stores value is like the ground where one builds the house of one's dreams. One will want the most solid...
The Etherum ecosystem thrives off of several decentralized solutions to faults in traditional financial systems. Among such solutions, its DeFi (decentralized finance) ecosystem has become a breeding ground for innovation that exceeds the expectations of existing systems.
DeFi is the ecosystem of financial applications that operate on blockchain networks. Digital assets may be acquired through DeFi products available on these applications. Examples of DeFi products include:
Digital assets in the DeFi ecosystem may or may not represent assets in the real world. A significant proportion of the assets derive their value from the execution of smart contracts, which can mirror financial instruments in traditional markets.
Photo Source: Stably
Smart contracts provide the infrastructure for many decentralized finance technologies, allowing for the implementation of decentralized...