So, you’re scrolling through Twitter and you see your friends posting about their 100% yearly gains through this thing called “DeFi”.
You scroll a little further down only to see a compilation of “DeFi Crimes”, and even an article where a well-known DeFi platform got exploited… just recently.
But, you’re still wondering — What exactly is DeFi?
For a start, DeFi refers to Decentralized Finance. In this article, I aim to make it as simple as possible to cover these things:
Since May of 2021, the Chinese government has begun to aggressively crackdown on crypto-mining operations. The ferocity of these restrictions has resulted in major bitcoin mining and trading companies leaving China in favor of neighboring countries — Russia and Kazakhstan and even to states within the US ( which have a crypto-friendly political stance). The exodus has been dubbed as the ‘great mining migration.’
However, the current set of regulations implemented by the Chinese government should not warrant surprise. Even prior to the popularity of cryptocurrencies such as bitcoin, China remained a staunch opponent of this technology.
A central bank digital currency (CBDC) is a virtual form of the nation’s fiat money that is represented by an electronic record or digital token. It is a centralized currency that is issued and regulated by the country’s monetary authority. Each CBDC unit may be used as a form of payment, a store of value, and an official unit of account, similar to a paper bill.
Currently, there are two types of CBDCs — retail and wholesale.
Charity Chain (Solidity)
You may have found yourself approached on the street or in your home for donations and found it in your heart to give some of the good fortunes you’ve received. The problem is, how do you know that the donation went to the cause you want to help?
In Singapore, charities are monitored and audited by the government and are subject to public accounting procedures. While these organizations are all listed on Charities.gov.sg …
The last article of the series is here! If you’re new here and wonder what DeFi is, head over here and check out the entire 4 part series.
Before we start, I want you to think of your DeFi journey thus far like setting up a new computer. We covered how blockchains work, which is similar to how a normal operating system works, like your Apple or Windows. You can then build applications…
We also proceeded to dissect what makes up DeFi last week. It’s similar to how you have different computers suited for various applications, such as gaming or…
In the first week, we covered the potential of Decentralized Finance (DeFi) and also the risks associated with it. We also covered the basics of blockchain — such as the definition of cryptocurrencies — and how stablecoins work last week.
If you happened to have Googled DeFi while waiting for my article, you might now be wondering, “how do the applications run if there are no middlemen”… and “what on earth is Yield Farming?”
Don’t worry, because this week we will be diving deeper into the DeFi space. In this article, we go through:
Overview of The London Fork
Ethereum’s “London” hard fork has just been activated, and it’s a colossal change.
This software upgrade brought about some huge and necessary changes to the world’s second-largest cryptocurrency. Currently, Ethereum is the world’s most widely used blockchain and it is driven by its ecosystem of platforms, developers, and users.
For some time, the Ethereum blockchain has been facing some scaling problems due to the staggering growth of the Ethereum platform, and also it's very unpredictable gas fees that can go really high. The latter has become worse recently due to the increased interest in nonfungible…
After reading my last article, some of you might started searching up various crypto exchanges such as Binance or Kucoin to try to invest in some cryptocurrencies related to DeFi right? And upon that attempt, only to realize:
“Why are there so many cryptocurrencies to invest in?”, and most importantly, “What does USDT or USDC mean?”
Well, not to worry! In this article, we touch on the basics — the ones that you need to know — so that you will be able to navigate through the crypto space and eventually explore DeFi applications and ecosystems next week.