Decentralized exchanges or DEX for short, are a type of cryptocurrency exchange which allow for direct cryptocurrency exchanges of tokens to take place online securely and without the need for a middleman like a bank or a government. To use a DEX: Go to the DEX’s website (e.g. uniswap.io) Connect your wallet to the DEX … Read more
Decentralised finance (Defi) is a type of financial application that runs on the blockchain without the need for middle men. A defi application contains a set of financial rules that are defined in a smart contract. This smart contract is then deployed to a blockchain where it is stored and executed by users. Activities like lending, borrowing, trading, saving etc. can all be done using decentralized finance protocols without the need for a middle man, like a bank, government, or other financial institution.
A fork is a term used to describe a situation where a blockchain’s users make changes to its rules. These changes to the rules of a blockchain often result in two new paths — one that follows the old rules, and a new blockchain that splits off from the previous one that follows the new rules. An … Read more
HODL, as an acronym for “hold on for dear life,” has become a mantra among crypto enthusiasts denoting a long-term approach to cryptocurrency investment. It refers to a passive investment strategy in which people buy and hold onto cryptocurrency — instead of trading it — in the hopes that it increases in value.
The internet drove the cost of transferring information to near zero. This destroyed the business models of traditional media and retail businesses. The blockchain drives the cost of transferring value to near zero. This will destroy the business models of traditional finance and banking businesses. Example: Traditional banks term deposits average less than 5% in … Read more