This year, decentralized finance has become a hot topic in crypto communities. As protocols become more available, activity and volume in the DeFi space are beginning to increase. Consensys has found that the amount of Ether locked on DeFi platforms has increased significantly since the release of Compound. This is in contrast to the rest of the year, where activity was fairly … [Read more...]
DeFi vs. CeFi: Comparing decentralized to centralized finance
What is CeFi and how does it work? This allowed for the control of trade and soon the Mesopotamian empire became the richest in the world Thousands of years ago, finance was invented in ancient Mesopotamia. This allowed for the control of trade and soon the Mesopotamian empire became the richest in the world. Since then, humans have used a variety of items as currency, including … [Read more...]
Digital cold war? United States and China vie for blockchain supremacy
The co-founder of Ripple recently wrote an opinion piece for The Hill, in which he claimed that there is currently a "tech cold war" going on between two nations with two different visions for the financial future, and that the United States is not currently winning this war. He believes that China has a rare opportunity to take over America's role in the global financial system, which … [Read more...]
Decentralizing Data Storage With Storj: 10 Times Faster, 50 Percent Cheaper
This decentralization movement is gaining in scope and impacting many industries. Uberization is unstoppable and we certain about it. The data storage market is being largely influenced by the trend. The Cointelegraph interviewed James Prestwich, who is a co-founder of Storj. Storj is an open source platform for cloud storage that cannot be censored, monitored, or experience downtime. … [Read more...]
Challenging Ethereum 2.0? Competing blockchains are seizing the moment
Ethereum 2.0 is now closer than ever before after a number of years of growth. Although the Medalla testnet had a rocky start, it seems that the development is still on track. Prysmatic Labs developer Raul Jordan said in a recent blog post that "2 to 3 months from the Medalla genesis block is still a perfect timeline." At this level, what are one other three months? An improvement to the … [Read more...]
DeFi Scams 101: How to avoid the most common cryptocurrency frauds
Statement on DeFi Risks, Regulations, and Opportunities As published in The International Journal of Blockchain Law, Vol. 1, Nov. 2021. The term "crypto" is now used broadly to refer to a variety of different things, from tokens to non-fungible tokens to decentralised finance (DeFi). Different readers will have different levels of understanding of … [Read more...]
A deep dive into the 5 popular smart contract development platforms and their comparison
What is a smart contract? A smart contract is a computer program that automatically executes the terms of a contract stored on a blockchain. The program executes itself only when the conditions in the contract are met, thus eliminating the need for intermediaries. Additionally, having smart contracts in place decreases transaction costs significantly while increasing transaction … [Read more...]
BRICS Nations Discuss Shared Crypto to Break Away From USD and SWIFT
The BRICS economic bloc, which consists of Brazil, Russia, India, China, and South Africa, is reportedly discussing the possibility of issuing a cross-national digital currency in order to reduce the bloc's dependence on the United States economy. What will the new cryptocurrency look like, how does the BRICS group plan to use it and are there any existing projects underway that seek to … [Read more...]
Bitcoin vs. Bitcoin Cash: What’s the difference between BTC and BCH?
There has been a lot of confusion around what Bitcoin Cash and Bitcoin mean ever since the Bitcoin Cash fork. So, today we’re going to help clarify. Bitcoin vs. Bitcoin Cash: Blocksize Before Bitcoin became as popular as it is today, it had no problem handling transactions, because there weren’t as many transactions to begin with. slowness and high fees. This creates a problem for the … [Read more...]
A beginner’s guide to understanding the layers of blockchain technology
If you've interacted with DeFi or NFTs on Ethereum, you've probably noticed how high gas fees and slow transactions can be. That's the cost of decentralization. Blockchain and other distributed ledger technologies are designed to be slower and more expensive than centralized alternatives. Some of the best minds in the world are currently working on ways to make cryptocurrencies … [Read more...]