Related Research Articles
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization managed in whole or in part by decentralized computer program, with voting and finances handled through a blockchain. In general terms, DAOs are member-owned communities without centralized leadership. The precise legal status of this type of business organization is unclear.
Circle is a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.
A decentralised application is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. Like traditional applications, DApps provide some function or utility to its users. However, unlike traditional applications, DApps operate without human intervention and are not owned by any one entity, rather DApps distribute tokens that represent ownership. These tokens are distributed according to a programmed algorithm to the users of the system, diluting ownership and control of the DApp. Without any one entity controlling the system, the application is therefore decentralised.
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.
Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters.
A stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities, or another cryptocurrency.
Cryptoeconomics is an evolving economic paradigm for a cross-disciplinary approach to the study of digital economies and decentralized finance (DeFi) applications. Cryptoeconomics integrates concepts and principles from traditional economics, cryptography, computer science, and game theory disciplines. Just as traditional economics provides a theoretical foundation for traditional financial services, cryptoeconomics provides a theoretical foundation for DeFi services bought and sold via fiat cryptocurrencies, and executed by smart contracts.
TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX). It was established in March 2014 by Justin Sun and since 2017 has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.
Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain, mainly Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high-interest rates but are subject to high risk. Coding errors and hacks have been common in DeFi.
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. MetaMask is developed by ConsenSys Software Inc., a blockchain software company focusing on Ethereum-based tools and infrastructure.
Dai is a stablecoin token on the Ethereum blockchain whose value is kept as close to one United States dollar as possible by decentralized parties incentivized by smart contracts to perform actions that affect the token's supply and therefore its price. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization composed of the owners of its governance token, MKR, who may propose and vote on changes to certain parameters in its smart contracts.
Uniswap is a decentralized cryptocurrency exchange that uses a set of smart contracts to execute trades. It is an open source project and falls into the category of a DeFi product because it uses smart contracts to facilitate trades. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts. As of October 2020, Uniswap was estimated to be the largest decentralized exchange and the fourth-largest cryptocurrency exchange overall by daily trading volume.
0x is an open-source, decentralized exchange infrastructure that enables the exchange of tokenized assets on multiple blockchains. Developers can use 0x to incorporate exchange functionality into their applications, and market makers can use 0x to create markets for cryptocurrencies and tokens. ZRX, an Ethereum ERC-20 token, is the native governance and staking token of 0x. Individuals who own ZRX can vote on protocol changes and stake their tokens to earn liquidity rewards in Ether (ETH). The project's creator and core developer is 0x Labs.
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.
Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It was best known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency.
Three Arrows Capital was a Singapore-based cryptocurrency hedge fund which was ordered to liquidate on 27 June 2022 by a court in the British Virgin Islands. It was founded in 2012 by Kyle Davies and Su Zhu. The company borrowed billions of dollars to fund its trading, and according to July 2022 bankruptcy filings, faces $3.5 billion in creditors' claims. The fund appears to have lost in excess of $3 billion over 2021 and 2022, making its collapse one of the largest hedge-fund trading losses of all time.
Polygon is a blockchain platform which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism for processing transactions on-chain. Polygon's native token is named MATIC. Matic is an ERC-20 token, allowing for compatibility with other Ethereum cryptocurrencies. It is operated by Polygon Labs.
Injective Labs is a research and development company co-founded by Eric Chen and Albert Chon in 2018. Injective Labs focuses on creating Web3 infrastructure and finance technologies. It is one of the core contributors to Injective.
References
- 1 2 3 4 5 6 7 8 9 10 Allcot, Dawn (2023-02-09). "What Is Aave Crypto Protocol?". AOL.com. Retrieved 2024-03-29.
- 1 2 3 4 5 6 Pandl, Zach (2021-10-22). "Opportunities and Risks in Decentralized Finance (Pandl/Rosenberg)". Goldman Sachs Research. Retrieved 2024-03-29.
- ↑ Ao, Ziqiao; Cong, Lin William; Horvath, Gergely; Zhang, Luyao (2022-02-02). "Is decentralized finance actually decentralized? A social network analysis of the Aave protocol on the Ethereum blockchain". Papers. arXiv.org. Retrieved 2024-03-29.
- 1 2 Shen, Muyao (2023-07-15). "Biggest DeFi Lender Aave Set to Launch Decentralized Stablecoin". Bloomberg.com. Retrieved 2024-03-29.
- ↑ Wade, Jacob (2022-11-15). "What Is Aave?". Investopedia. Retrieved 2024-03-29.
- ↑ Chiu, Jonathan; Kahn, Charles M.; Koepp, Thorsten V. (October 11, 2022). "Grasping De(centralized) Fi(nance) Through the Lens of Economic Theory" (PDF). Bank of Canada. doi:10.34989/swp-2022-43. ISSN 1701-9397 . Retrieved April 3, 2024.
- ↑ Young, Sage D. (2023-01-24). "Aave Community Voting to Deploy Version 3 on Ethereum". markets.businessinsider.com. Retrieved 2024-03-29.
- ↑ Melinek, Jacquelyn (2022-03-23). "Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago". TechCrunch. Retrieved 2024-03-29.
- ↑ "Crypto Conversation: Aave 'LEND's Hand to Decentralized Finance Movement". TheStreet Crypto: Bitcoin and cryptocurrency news, advice, analysis and more. 2020-08-26. Retrieved 2024-03-29.
- 1 2 Nicolle, Emily; Kharif, Olga; Akhtar, Tanzeel; Miller, Hannah (2022-05-15). "Britain's Crypto List: Here Are the People to Watch". Bloomberg. Retrieved 2024-03-29.
- ↑ "Stani Kulechov defied crypto winter". top-news.com.ua. Retrieved 2024-03-29.
- ↑ Melinek, Jacquelyn (2023-11-16). "Aave Companies rebrands to Avara and acquires crypto wallet Family to expand its web3 reach". TechCrunch. Retrieved 2024-03-29.
