In relation to blockchains, a wallet is anything that manages access to cryptocurrencies and tokens. Wallets keep valuables, credentials, and items for access rights (such as cash, licenses, credit cards, key cards) in one place, for easy access and use. On the blockchain, cryptocurrencies play a similar role to cash, while cryptographic tokens are a […]
Ethereum, as the world’s second most important blockchain was working on consensus mechanism Proof of Work (PoW). That was why, it was decided to change this mechanism to Proof of Stake (PoS). This change was an upgrade to Ethereum 2.0. This upgrade was intended to increase Ethereum’s capacity for transactions, reduce fees and make the […]
Ethereum is the second largest blockchain after Bitcoin. It’s the world’s programmable blockchain. It’s a decentralized blockchain platform that safely runs execution and verification application code which is called smart contracts. Smart contracts permit users to transact with each other without a trusted central authority. Ethereum is a permissionless, non-hierarchical network of computers (nodes) that […]
Cryptocurrency or simply crypto is referred to decentralized digital money which is based on blockchain technology. The most important and famous ones are Bitcoin and Ethereum and there are more than 5000 cryptocurrencies. Decentralized means that there is no central issuing or regulating authority and a system is applied to record transactions and issue new […]
WalletConnect is an open protocol for connecting desktop Dapps to mobile Wallets using end-to-end encryption with QR code scanning or deep linking. Unlike browser extensions or desktop wallets, users can securely interact with any decentralized applications. An end-user may use a mobile application such as Trust Wallet to connect to DApps and do transactions securely […]
The exchange of information from one cryptocurrency to another is essential. The market needs to overcome the communication problem between the oldest and the biggest cryptocurrency networks like Bitcoin and Ethereum. The solution is wrapped tokens. Wrapped tokens are cryptocurrencies that are implemented in a different blockchain and are able to work in a blockchain […]
What is liquidity pool? Liquidity pool is a pool of funds placed into a smart contract which provide liquidity for DeFi applications such as decentralized exchanges (DEX), lending and borrowing protocols. people who deposit tokens into a liquidity pool are known as liquidity providers. Individuals receive LP tokens in return of tokens deposited into […]
There are following categories of risks related to using DeFi: Smart contract risk: Smart contract codes are prone to errors, hacking and malicious actions. Smart contract hacking is very attractive as funds hacked can be converted into money quickly. There have been many cases of malicious actors that use vulnerabilities in the smart contracts to […]
Automated Market Makers (AMMs) are an automatic robot that allow digital assets to be traded by using liquidity pools rather than a traditional market of buyers and sellers. The liquidity pools are supplied with crypto tokens by a constant mathematical formula. You can optimize liquidity pools for different purposes, and they are proving to be […]
Ethereum network is getting crowded as it attracts more people to smart contract-based DApps, from NFT markets to lending and gaming. It leads to lower transaction speed and higher transaction fees. Ethereum exploits a number of parallel blockchain highways to tackle this congestion, called Layer 2 scaling solutions. One of these measures is zkSync. zkRollup […]
