Author: misamaliraza94
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How bitcoin mining works
Bitcoin mining is the process that creates new bitcoin, adding them to the total supply, which has a fixed limit of 21 million, expected to be reached in the year 2140. The first block – aka Genesis block – was mined on January, 3rd 2009, and since then at approximately 10 minute intervals, a new…
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Earning from mining crypto
What you’ll learn How mining works at a high level DIY mining from home is no longer cost effective What a mining pool is & how to choose one More profitable coins to mine that Bitcoin Mining is the process by which cryptocurrencies like Bitcoin confirm new transactions and add them to the existing historical…
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Things to consider with DEFI lending & borrowing
DEFI has opened up a whole new world of financial services that are much easier to access, more transparent and give the user greater control. But against these benefits, you have to weigh the risks of transacting in a totally unregulated space with immature technology and business models that aren’t fully stress tested. So before…
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Pros & Cons of DEFI borrowing & lending
Advantages Cutting out Intermediaries One of the biggest criticisms of traditional finance is the number of intermediaries that add to the cost of borrowing or lending. By functioning in a Peer-to-Peer form more value can be shared with the user and the DAO that sits behind it. Removing trust also means that your personal data…
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The point of secured DEFI borrowing
In traditional finance secured loans generally use an illiquid asset (like a house) – something which isn’t easy to sell quickly – to borrow a liquid asset, like money. In the crypto version of a secured loan, one liquid asset is used to borrow a different liquid asset, so what’s the point? There are plenty…
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How DEFI Lending works
In the context of the layered structure of DEFI, a borrowing and lending protocol will consist of a number of Smart Contracts (the Protocol Layer) the function of which are simplified into a dApp/website (Application Layer). The Protocol will be supported by one or more blockchains (Settlement Layers) charging fees to confirm DEFI transactions in…
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How does DEFI work?
To understand how DEFI borrowing and lending work it helps to summarise how decentralised finance functions. There are five distinct layers: The Settlement Layer This is where any transactions and balance changes are recorded. In traditional finance, this would be a bank, but in DEFI the role of the central authority is replaced by a…
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DEFI automated borrowing & lending?
Automated DEFI borrowing and lending offer crypto users the two most fundamental banking services, earning interest on crypto deposits or paying interest to borrow crypto at interest, but crucially with the bank removed from the equation. DEFI – decentralised finance – works on a purely Peer-to-Peer level. Users hold their assets in crypto wallets like…
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Creating your own NFT
Making your own NFT is probably the best way to understand the concept and generate potential value. You have control over what assets you want to be represented, and there is little cost aside from time and effort (and transaction fees). Creating an NFT is known as minting, and various platforms facilitate this process. The…
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Investing in NFTs
For now, though, where does one start with NFTs? And what are the essential things to look for when investing? Non-fungible tokens can be purchased on many NFT marketplaces, including Rarible, OpenSea, Enjin Marketplace with many more opening up all the time. You’ll need to have a crypto wallet set up to access these sites; they support…