Maker Price & Charts
What Is Maker ?
Maker”(MKR) is decentralized cryptocurrency, built to render services using as a smart contract platform of Ethereum blockchain, making steps to stabilize price volatility. It uses its’ own token known as “the Dai” to minimize such volatility against fiat currencies.
The amount of transaction, the sender, and the receiver remain private in the blockchain while the payment is published on a public blockchain.
MKR token can be used to send and receive payments via any ethereum account programmed to use smart contract. One of the unique features of MKR is that it is more stable and valued in the crypto market than most of the digital currencies.
The continuous stability in the value of MKR can be attributed to DAI bond pegged at $1 equal to 1 DAI.
MKR’ 35 members team is made of seasoned professionals in various fields of endeavors led by Rune Christensen who is the Chief Executive Officer. The 35 man team is drawn from across the length and breadth of the world, making sure that the best hands are hired.
The full member list can be obtained from the website.
PRACTICAL USES OF MAKER
- It is used for payment of goods and services.
- It is used for gaming and betting settlements. Betting unrelated predictions can be risky using volatileMKR provides a stable option to bet.
- MKR is very useful in reliable collateral and custom derivatives smart contracts such as CFDs.
- It is used for remittance and Cross-border By not involving middlemen or intermediaries, it means both the transaction fee, the cost of international trade will reduce tremendously.
- MKR is used by most NGOs, charities etc. to minimize corruptions and other ill-financial transactions for efficient accounting purposes.
MKR network can be mined using these two ways. The popular CPU/GPU and the easy Mining pool.
This mining goes with the Proof of work (PoW) with a hashing, SHA-256 algorithm. The mining computer must have a graphical interface and must meet other requirements. The GPU uses less processing power than CPU and seems to be better. The miner is expected to solve a computational puzzle and once the puzzle is solved, a new block is added to the blockchain and the records updated; the miner will receive a reward.
Note: Any antivirus in the mining computer has to be disabled for effective result.
This involves mining in a group and contributing resources (processing power) together to mine, Once the computational problem is solved and a reward is released, it will be shared according to individual’s contributions. The higher your processing power, the higher your reward.
NOTES FOR INVESTORS
Maker (MKR) is one the most stable currencies in the crypto market. Even when there was a major shake-up to many cryptocurrencies in early January this year, it didn’t affect MKR.
The current price of MKR coin is $844.32 USD and the market capitalization is $521,982,689 USD
Maker(MKR) is one cryptocurrency that, people should not overlook
This report is the figment of the writer’s imaginations and not intended to be a financial advice. Seek advice before investing.