Review on Dai by Özgün A
Dai will be good
Fixed value cryptocurrencies (stable coins) now occupy a very important place in the crypto money market. Launched in December 2017, the DAI Coin is equal to $ 1. DAI is the 37th largest cryptocurrency by total market cap, with a total market cap of close to $ 500 million. DAI is not centrally managed. The total supply value is variable. Instead of having a central authority that holds the value of DAI in real US dollars like Tether, it has a decentralized structure. You can earn a certain amount of profit for DAIs.
Updated 4 years ago
Rating has not been changed
As long as large price fluctuations disturb the money market, I think cryptocurrency can never be adopted globally as a currency for daily real-life transactions. Here, some coiner is wanted to be issued depending on a fixed amount, the reason is to give users confidence by not being affected by price fluctuations. Because too many cryptocurrency users do not believe in price fluctuations, they believe that price fluctuations are made willingly by large asset holders. Actually, I believe it too. Therefore, the need for a 1: 1 stable coin emerged.
Recently, with the discussions on Tether, the search for new stablecoins in the market started. In the last 1 year, many companies have issued their own stablecoin, but there is still no stablecoin as popular as Tether. This situation is really interesting.
Dai Coin is a cryptocurrency pegged at $ 1, seen by some as a fiat currency.
It can be easily developed by software developers thanks to its open source code. In short, crypto currency users searched for stable coins to be less affected by price fluctuations. I am one of those who believe that DAI coin will evolve thanks to its efficiency and transparency advantage.
Pros
- Protection against price fluctuations
- Programmable
- The advantage of offering a fixed price
Cons
- Complicated to use
