What Is Maker Crypto? MKR token. Explained for Beginners скачать в хорошем качестве

What Is Maker Crypto? MKR token. Explained for Beginners

What Is Maker Crypto? MKR token. Explained for Beginners What Is Maker (MKR)? Maker serves as the governance token for the MakerDAO and Maker Protocol, which are decentralized entities operating on the Ethereum blockchain. These platforms enable users to create and manage the DAI stablecoin. Originating from the concept in 2015 and fully launched in December 2017, Maker's primary mission is to oversee DAI, a community-governed decentralized cryptocurrency designed to maintain a stable value, loosely pegged to the US dollar. MKR tokens function as a form of voting shares for the organization responsible for managing DAI. While they do not offer dividends to holders, MKR tokens grant voting rights regarding the development of the Maker Protocol. Their value is expected to rise in accordance with DAI's success. Maker is among the earliest pioneers in the decentralized finance space, which seeks to develop decentralized financial products using smart contract-enabled blockchains, notably Ethereum. 01:15 Who Are the Founders of Maker? Rune Christensen, an entrepreneur from Sealand, Denmark, founded MakerDAO in 2015, marking the inception of the broader Maker ecosystem. Christensen holds a degree in biochemistry from Copenhagen University and pursued international business studies at the Copenhagen Business School. Before launching MakerDAO, he co-founded and managed Try China, an international recruiting company. 01:44 What Makes Maker Unique? As of October 2020, DAI ranks as one of the most popular stablecoins, with a market capitalization exceeding $800 million. It holds the 25th position among cryptocurrencies and boasts more active addresses than USDT, the largest stablecoin. MKR stands out by granting holders the direct ability to engage in the governance of DAI. Every MKR token holder has the right to vote on numerous changes to the Maker Protocol. The weight of their vote depends on the quantity of MKR tokens they possess. Some areas of protocol governance that token holders can influence include: 1. Adding new collateral asset types to the protocol. 2. Adjusting the risk parameters for existing collateral asset types. 3. Modifying the DAI Savings Rate, which affects the profitability of the savings contract for DAI holders. 4. Selecting oracles responsible for supplying reliable off-chain data to the Maker ecosystem. 5. Implementing platform upgrades. This governance role, allowing participation in managing one of the largest stablecoins globally, fuels the demand for MKR tokens and subsequently influences their value. 03:05 How Many Maker Coins Are There in Circulation? MKR's issuance and removal follow a complex system of interrelated mechanisms designed to maintain DAI's full collateralization by other cryptocurrency assets and its soft peg to the USD. There is no fixed limit on the total supply of MKR. DAI's value is backed by collateral—other cryptocurrencies deposited by users when creating new DAI tokens and stored in vaults, which are smart contracts on the Ethereum blockchain. During downward price trends, the value of the crypto held in a vault may become insufficient to fully collateralize the corresponding DAI amount. In such cases, the Maker Protocol automatically initiates the liquidation of the vault's assets, using the proceeds to cover the vault's obligations. If the DAI generated from the liquidation falls short, the Maker Protocol mints new MKR tokens for sale to cover the remaining balance, thereby increasing the total supply. However, when the DAI generated from auctions exceeds the necessary amount for full collateralization, the Maker Protocol purchases and burns MKR tokens, reducing their total supply. Consequently, MKR's supply is dynamic and varies depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is approximately 1 million, with a total value exceeding $500 million. 04:43 How Is the Maker Network Secured? MKR is an ERC-20 token, operating on and secured by the Ethereum blockchain. Ethereum's security is upheld by its Ethash proof-of-work function. 04:57 Where Can You Buy Maker? Maker token trading is available on several exchanges, including Binance, OKEx, Uniswap, and Coinbase Pro. --------------------------------------- My chanel    / @cryptofanatic   What Is Litecoin?    • What Is Litecoin? LTC Overview for Be...   What is TONCOIN    • What is TONCOIN and How Does It Work?...   What Is Dogecoin?    • What Is Dogecoin?  DOGE Crypto Explained   What Is XRP Token?    • What Is XRP Token? Difference between...   #cryptocurrency #cryptofanatic #makercrypto