Non-Collateralized Stablecoins Seigniorage Share Seigniorage (algorithmic) stablecoins can be linked to a decentralized autonomous organization (DAO) which controls issuance and pricing supply of stablecoins is controlled by issuing and destroying coins depending on the market demand, until the target price is reached market participants are incentivitized to act in a way that the price is kept ..
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Stablecoin Stablecoin Stablecoin crytocurrencies designed to minimize the efects of price volatility to minimize volatility the value of a stablecoin, it can be pegged to a currency or exchange traded commodities(such as gold) stablecoins backed by currencies or commodities directly are said to be centralized stablecoins levereaging other cryptocurrencies are referred to as decentralized Why the..
DeFi DeFi Defi open and global financial system - alternative to the traditional financial system gives you control and visibility over your money gives you exposure to global markets and alternatives to your local currency or banking options open to anyone with an internet connection and Defi largely owned and maintained by their users DeFi market always open and there are no centralized author..
Private Blockchain Public blockchain Public Blockchain any participants can read the ledger and use it to carry out transactions, everyone can participate in the process of creating the consensus there is no owner in the public blockchain system no central register, no trusted third party Code is Law the nodes of the network validate the choices operation is based on cryptoeconomics: combination..
NFT NFT: Non-fungible token tokens that represent ownership of unique items(not interchangeable) each individual token in NFTs is completely unique and is not divisible ownership of an asset is secured by the blockchain - no one can modify the record of ownership or copy/paste a new NFT into existence, trackable by using blockchain as a public ledger NFT is minted from digital objects as a repre..
Overview Data such as account balances aare not stored directly in the blocks of the Ethereum blockchain. Only the relevant hash values are stored directly in the blockchain. Ethereum use the Account/Balance Model Simplicity: more intuitive - smart contract keep track of states to perform different tasks UTXO's stateless model force transactions to include state information so that complicates t..
Byzantine Fault Tolerance (BFT) Example of BFT (PeerReview) Peer Review Node E stores an object for client D Node E tries to hide it from client B -> E = maliciious node! The two clients(B, D) broadcast the authenticators they have obtained from E Later, A audits E, discovers the inconsistency, and exposes E Finally, node A broadcasts its evidence against E, so the other nodes can expose E as we..
Proof-of-Stake What is PoS? Proof-of-stake is an alternative to Proof-of-Work PoW might lead to a low network security with block incentives that decline over time -> miner ⬇️ PoS is one way of changing the miner's incentives for higher network security In PoS based public blockchain, a set of validators take turns proposing and voting on the next block, and the weight of each validator's vote d..
Introduction to Ethereum Ethereum is a decentralized, open-source blockchain designed to support a smart contract using Turing Complete Language for a script language ETH originally used the PoW as its consensus algorithm like Bitcoin -> it recently changed to PoS History Ethereum was conceived in 2013 by Vitalik Buterin On 30 July 2015, network went live, "Frontier", created its genesis block t..
Introduction to Lightning Network Problem of Bitcoin Bitcoin is a gossip protocol because each node must know about every single transaction that occurs globally What if just increasing the block limit? -> we need huge amount of storage This will result extreme centralization of Bitcoin nodes and miners to the only oes who could afford this processing Having privileged, trusted parties will caus..
