1 Level
7 Review
18 Karma
Review on Maker by Edison Chaplin
MKR is a cryptocurrency that is presented as an intelligent contract platform…
MKR is a cryptocurrency that is presented as an intelligent contract platform and is used on the Ethereum Blockchain. Its purpose is to stabilize the value of a bond known as DAI through smart contracts called collateralized debt position (CDP). When the life of the smart contract ends, the MKR token is gone. It can be sent and received by any Ethereum account or Smart Contract programmed to use the MKR transfer function. It is more stable than most digital money on the market because it is appreciated.
The goal of the coin is to over.collateralize, creating less risk of insolvency. In the event that a CDP is undercollateralized, the Automatic Recapitalization feature is triggered, which forces the dilution of MKR by automatically creating new MKR and selling it back to the platform, bringing it back in balance from the point of insolvency
Pros
- Maker Token attempts to resolve the volatile nature of crypto .Money today isn’t worth what it was yesterday, literally. At least in the world of cryptocurrency, its value fluctuates daily. Nevertheless, Maker is redefining the concept stable economy and what it can do.
Cons
- None
