What are Ethereum Smart Contracts

One of the fundamental technologies that underpins the Ethereum network is the development of “Smart Contracts”. Whereas Bitcoin and other cryptocurrencies were developed for the sole purpose of being a Peer-to-Peer digital currency, Ethereum was developed as a concept for running decentralised applications.

In their simplest forms, smart contracts are pieces of computer code that have built in logic and conditions that define their outcome. They are also run in a decentralised manner by all the computers on the network (nodes) and are stored and replicated on the ledger (blockchain).

They are nothing more than relatively simple programs that will execute “if this then that” functions. Hence, unlike simple blockchains that will store data in a decentralised manner, smart contracts will be run as decentralised calculations. They were first theorised by Nick Szabo in 1994 as a way of digitizing contracts that could be run as computer code.

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Yearn Finance Review: DeFi Profit Maximiser

ETH DeFi

Yearn Finance Review: DeFi Profit Maximiser

“0 value. Do not buy it. Earn it.” – the final words of the Medium post which introduced the now famous yearn.finance (YFI) token to an already overexcited DeFi space.

Hailed as one of the most decentralized projects in cryptocurrency, the yearn.finance protocol aims to simplify DeFi while simultaneously providing users with the highest possible annual percentage yields (APY) on their deposited cryptocurrencies.

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What Is DeFi?

DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

DeFi Explained - Coinmama

DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.

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What Are Dapps? The New Decentralized Future

What are Dapps you might ask?

Imagine having your car working away, transporting passengers while you’re at work. Imagine having your computer utilizing its spare capacity to serve businesses and people across the globe. Imagine being paid for browsing the web and taking ownership of your, arguably invaluable, attention. Imagine a world like that. That world is not far away.

A paradigm shift in the way we view software models is approaching. When Bitcoin, the first cryptocurrency, made us reassess our definition of Store of Value (SoV), it also revealed a sneak peek of the future: a world running on decentralized applications (Dapps). These distributed, resilient, transparent and incentivized applications will prove themselves to the world by remapping the technological landscape.

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What Is Yield Farming?

The Rocket Fuel of DeFi, Explained

It’s effectively July 2017 in the world of decentralized finance (DeFi), and as in the heady days of the initial coin offering (ICO) boom, the numbers are only trending up.

According to DeFi Pulse, there is $1.9 billion in crypto assets locked in DeFi right now. According to the CoinDesk ICO Tracker, the ICO market started chugging past $1 billion in July 2017, just a few months before token sales started getting talked about on TV.

Debate juxtaposing these numbers if you like, but what no one can question is this: Crypto users are putting more and more value to work in DeFi applications, driven largely by the introduction of a whole new yield-generating pasture, Compound’s COMP governance token.

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