Review on Maker by gregori cordova
one of the most transparent and secure platform in the world of stablecoins
As we already know, in the crypto environment there is a need for stablecoins, to have a tradable value at a fixed price, such as the dollar, which is an international currency. This need is due to the high volatility of cryptocurrencies, which can vary in a matter of hours. This is where Maker comes into play, a totally decentralized and somewhat complex ethereum blockchain smart contract platform that seeks to bring stability to the crypto world through its 2 MKR and DAI tokens. To achieve this, it uses a series of mechanisms in which the MKR tokens are created or destroyed according to the fluctuation of the Dai currency, to always keep it as close to the value of 1 dollar. Mkr token holders have voting power, and make key decisions about the operation of the entire system, and are also used to pay transaction fees.
The maker team consists of a number of programmers, engineers, and experts from around the world who have very ambitious plans to adopt Dai on a global scale and who are fully focused on transparency and security. Unlike tether, for example, which is a centralized and very controversial fiat currency, issued in relation to what is supposedly in a bank account, all the issuance of dai is on ether in a fully verifiable and auditable Smart contract by everyone.
In summary, the Maker platform has made great efforts to create a stable, extremely secure and auditable currency, with collateralization mechanisms that allow to protect the value of their Dai cryptocurrency and at the same time help users to keep their assets safe from the market volatility.
Pros
- It is an extremely secure and fully auditable platform
- It has very powerful security mechanisms
- MKR token holders have voting power over the operation of the platform
- They have a very large market capitalization and an increasing daily volume of transactions
- Unlike tether, which is not yet known whether it is really backed by the dollar, Dai's emissions can be clearly audited on its Smart contrac.
- It is fully decentralized, as it can only be created or destroyed by users, unlike the centralization that occurs with tether.
Cons
- Nothing negative to add
