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  • BiWeekly General Discussion: Ask your questions here- April 01, 2020 April 2, 2020
    Welcome to the BiWeekly General Discussion thread for /r/MakerDAO. Visit us at Makerdao.com Chat with us at Maker Chat Debate with us on the forum Read the FAQs Trade DAI on eth2dai Dai Stablecoin System Health Metrics MakerDao Articles, Blog Posts and Tutorials ELI5 Maker Thanks for your insightful discussions, enjoy! submitted by /u/AutoModerator [link] […]
    /u/AutoModerator
  • participation in CDP auctions April 1, 2020
    Hi - if I wanted to participate in a cdp auction can you let me have the answers to the following: 1. How many maker do I have to have to participate 2. Am I sent some sort of information or how would I find out about any potential auctions 3. Do you have detailed […]
    /u/stevepayday
  • Possible to develop a Dai smart savings account for the masses? April 1, 2020
    I am a developer currently working on a cross remittance app between Mexico and the United States. We are already in MVP of developing a way to get airdrop money from the most recent stimulus package to Mexican citizens with duo citizenship and those who qualify and also repatriating tax money. We are in the […]
    /u/mpow
  • Beginner’s Guide to MakerDAO - Resolving the Fight Against Volatility April 1, 2020
    submitted by /u/cryptoadventura [link] [comments]
    /u/cryptoadventura
  • 1 DAI = $39 Donation Match by Gitcoin for No Kid Hungry April 1, 2020
    submitted by /u/Alex-S-Wilson [link] [comments]
    /u/Alex-S-Wilson
  • ELI5 flash loans please? April 1, 2020
    I see them mentioned quite a bit lately, would someone ELI5 please or at least forward some good read about it? 🙂 submitted by /u/TheCurious0ne [link] [comments]
    /u/TheCurious0ne
  • Flash Loans Impact on MakerDAO April 1, 2020
    What are the implications of the possible proliferation of flash loans on Maker’s ecosystem? I have yet to find anyone’s opinion on its direct impact on MakerDAO and DeFi as a whole. Any links to others’ posts or comments would be greatly appreciated! submitted by /u/RepoTactics1 [link] [comments]
    /u/RepoTactics1
  • A fun wagering contest that uses DAI March 31, 2020
    While you're waiting for the upcoming Augur V2 release, you can use DAI with this centralized Prediction Wagering dApp that I created just for fun: https://predictionwagers.github.io/v1.0/Predictor.htm Make a small wager that tomorrow's Dow Jones opening price will be higher (or lower) than today's closing price. You can bet on several Open Wager Proposals, or select […]
    /u/SkillDuel
  • Question about how DAI works, risks involved. March 31, 2020
    Howdy y’all. I don’t know the full story of what happened with makerDAO a week or two ago. I just know some people were able to abuse the system to get exceptionally low deals on ETH at auction. Anyways, I wanted to get into staking DAI, or holding DAI. I don’t know exactly what the […]
    /u/deadmoon22
  • Aztec protocol launched service for private ether transactions? March 31, 2020
    Just got the newsletter that they've launched zk.money which supposedly sends private DAI and ETH transactions, but the doesn't work for me and there are zero instructions on how to use it and what is the privacy you achieve so I was hoping someone here can shed more light? submitted by /u/OneOfTheGuys9 [link] [comments]
    /u/OneOfTheGuys9

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What Is Maker ?

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.

           THE TEAM

     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.

THE MINING

MKR network can be mined using these two ways. The popular CPU/GPU and the easy Mining pool.

CPU/GPU Mining:

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.

Mining pool:

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

MUST READ!

This report is the figment of the writer’s imaginations and not intended to be a financial advice. Seek advice before investing.