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…Smart contracts generate these loans by minting DAI, a stablecoin with a soft peg to the US dollar. The Maker Foundation developed the protocol in collaboration with various third parties, and the foundation has attempted to lessen its degree of control over time. They eventually handed over power to MakerDAO, a decentralised autonomous organisation (DAO) that oversees the protocol. The DAO consists of people worldwide who possess the MKR token, allowing holders to vote on major changes. MKR t…
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…By reducing reliance on full nodes, light clients can help expand validator diversity and lower the technical barrier to staking and verification. Though still evolving, the protocol changes to support full-featured light clients lay important groundwork through improvements like EIP-4444 (historical data pruning) and EIP-2935 (block hash access), which reduce data requirements and improve compatibility with stateless designs. Stateless Clients While Verkle trees remain a future roadmap item bey…
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…Though coins and tokens use distributed ledger technology (also known as blockchain technology), there are some significant differences between a coin and a token. The TLDR is: Crypto coins are a form of digital currency that are often native to a blockchain, with the main purpose of storing value and working as a medium of exchange. Crypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representin…
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…Learn what it is and how cryptocurrencies can be minted with it. Key Takeaways: ERC-20 is a technical standard for building fungible tokens on the Ethereum blockchain, providing a framework for how they should be created, issued, and deployed. The purpose of token standards is to facilitate interoperability between smart contracts, ensuring newly minted tokens are compatible with third-party services like exchanges and wallets. The introduction of ERC-20 empowered developers to build on Ethe…
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…In some circles, it is also a metric that measures how successful an investment is in outperforming the market.Full definitionAltcoinAny cryptocurrency other than Bitcoin is referred to as an altcoin.Full definitionAnti-Money Laundering (AML)Anti-money laundering (AML) refers to the procedures, laws, regulations, and any other tools intended to prevent money laundering.Full definitionAnti-Phishing CodeAn Anti-Phishing Code is a security feature to help protect from phishing attacks, where users …
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…Though coins and tokens use distributed ledger technology (also known as blockchain technology), there are some significant differences between a coin and a token. The TLDR is: Crypto coins are a form of digital currency that are often native to a blockchain, with the main purpose of storing value and working as a medium of exchange. Crypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representin…
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…Though coins and tokens use distributed ledger technology (also known as blockchain technology), there are some significant differences between a coin and a token. The TLDR is: Crypto coins are a form of digital currency that are often native to a blockchain, with the main purpose of storing value and working as a medium of exchange. Crypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representin…
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…Essentially, users of DEXs interact with smart contracts on the relevant blockchain. There are three main types of DEXs, all of which allow users to trade directly through smart contracts: Automated Market Makers (AMMs)Order book DEXsDEX aggregators Automated Market Makers (AMMs) An AMM relies on information provided by exchanges and blockchain oracles to set the price, where — instead of matching buy and sell orders — the smart contract uses a liquidity pool, which is funded by other users …
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…However, there are also other Layer-2 technologies like sidechains, plasma chains, and validiums.In general, optimistic rollups and ZK rollups are considered highly secure, as they inherit the Ethereum mainnet’s security.The Ethereum Virtual Machine (EVM) compatibility of optimistic rollups makes it convenient for developers to migrate existing smart contracts from Ethereum to optimistic rollup blockchains. Zero-knowledge Ethereum Virtual Machines (zkEVMs) can offer the scalability benefits of…
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…Essentially, users of DEXs interact with smart contracts on the relevant blockchain. There are three main types of DEXs, all of which allow users to trade directly through smart contracts: Automated Market Makers (AMMs)Order book DEXsDEX aggregators Automated Market Makers (AMMs) An AMM relies on information provided by exchanges and blockchain oracles to set the price, where — instead of matching buy and sell orders — the smart contract uses a liquidity pool, which is funded by other users …
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