Maker DAO: cryptocurrency description, existing problems
Maker DAO is a decentralized autonomous system operating on the Ethereum blockchain, within which there are two types of tokens: MKR (internal currency of the platform) and DAI (stable digital currency, the value of which is pegged to the US dollar).
- Asset holders can vote on proposals aimed at developing the network
- It is used for payments within the network, payment for services and commissions.
- After use, MKR is destroyed
- Stable coin allows you to reduce the cost of international transactions to an adequate level
- Increased operational efficiency and reduced likelihood of corruption through fully verified DAI transactions
Replenishment: through crypto exchanges (for example, Gate.io, OKEx, HitBTC, Radar-Relay and others), you can trade an asset in pairs with BTC, ETH, USDT, American dollar, etc.
Storage: any wallets that support the ERC-20 standard (for example, MyEtherWallet, MetaMask, Ledger Nano S, Trust, ImToken).
Advantages of the system:
- High level of automation
- Absolute anonymity of transactions
- No restrictions on transactions
- Support from major market players. Vitalik Buterin calls Maker “part of the Ethereum ecosystem”
- Well-thought DAI creation mechanism
- MKR as a long-term investment
- Significant cost savings on commissions and no taxes