Decentralized Finance—EYWA on a Mission to Solve Existing Problems
While the Decentralized Finance or DeFi space, as colloquially called, has experienced a massive surge in interest and valuation, thanks to the influx of multiple projects, a few problems still plague this billion-dollar market. These sticking points hound the growing industry, hindering global adoption. From fragmentations between numerous blockchains and tools to interoperability, exorbitant fees, […]
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We are starting to see Blockchain based disruptive technologies, solving real world problems. Bitcoins are mined. Mining is a computationally intensive process. Mining with CPU and GPU has already gotten to a point where the profitability is almost trivial. The energy consumption is higher than the output that can qualify as profitable. Some discussions on the Internet are asking the question, "Isn't Bitcoin mining with high energy inputs a cause for environmental concern?" There is another discussion starting to happen in the Bitcoin skeptics society lately, as well. A Quora Question:....
The whole Bitcoin network is pillared on mining. Bitcoin mining is the way bitcoins are minted and transactions are processed over the network. Bitcoin mining involves using computing power to solve complicated mathematical/cryptographic problems using complicated algorithm and specialized software. The processing power required to solve these problems is contributed by computing devices connected to the Bitcoin network and they are known as miners. Bitcoin mining ensures the security of the network and confirms each and every transaction taking place over the entire network. Fresh....
Will 2015 be the year of the Decentralized Bitcoin exchange? 2014 and the very beginning of 2015 has seen major problems for two mighty Bitcoin exchanges: Bitstamp and Mt. Gox. Untold numbers of holders lost in excess of $500 million between the two failures, both of which appear to have been initiated by internal enemies to the exchange with nothing but greed for a motive. Also read: Mt. Gox As a Lesson in a New Kind of Inflation. Removing the Element of Trust from Bitcoin Exchanges. Daniel Larimer, one of the founders of BitShares, believes that decentralized exchanges using the....
Decentralized marketplaces are one of the many rapidly evolving businesses in the fintech industry. To get a first-hand account of the major challenges and opportunities here, Cointelegraph has got in touch with the developers of the Waterhole service. First decentralized marketplaces. eBay, set up in 1995, has grown from a part-time hobby of its founder, Pierre Omidyar, to a huge multinational corporation. It was one of the first decentralized marketplaces, with caveats. True, it is run by a central authority, but it allows people from all over the world to trade things with each other at....
Algorand's PPoS consensus algorithm distinguishes it from other blockchain networks that help solve blockchain trilemma. What is Algorand?Algorand is a blockchain network created in 2017 by Silvio Micali, an MIT professor who won the Turing Award for his work in cryptography. Algorand is a decentralized permissionless blockchain protocol that anyone can use to develop applications and transfer value. The Algorand protocol is powered by a novel consensus algorithm that enables fast, secure and scalable transactions.Algorand addresses the common issues that most older blockchains have,....