Compound is one of the most popular protocols in the DeFi space. The protocol allows users to either borrow their crypto assets or lend them in order to earn interest. The process of lending and borrowing on the platform is facilitated in its entirety through smart contracts running on the Ethereum blockchain. Compound has its own token called COMP, which allows holders to vote on future changes to the protocol. The platform was launched in 2018 and was founded by Robert Leshner. Currently, there are more than 10 cryptocurrencies.
What is CHZ?
One of the primary and most anticipated blockchain projects from Deutsche has been CHZ. Over the course of the last year, the project has already managed to make a significant impact in the crypto world. According to its website, the coin is a blockchain asset that has many applications including digital currency, mobile wallets, and the tokenization of products and services. CHZ will allow smart contracts to be created and executed within the CHZ token on the DEFi network and can be paid for using fiat currencies or cryptocurrencies. How Does CHZ Work? CHZ offers its customers the ability to borrow any cryptocurrency that has been issued via their application.
Compound Protocol
DeFi is a technology layer that runs atop the Ethereum protocol. It is responsible for collecting data from a person's identity, payment, and spending patterns. It can then predict if a person is likely to have a positive or negative financial outcome based on their choices. The platform ensures that financial decisions are up to the user and are not subject to a third party. This is because users can reject any proposed financial decisions by voting via the DEFI token. DeFi is more than just a way to spend crypto assets, the platform also allows investors to invest in cryptocurrencies via SAFT tokens which are created automatically when a person invests in a cryptocurrency. Similar to Compound, Leshner is also building a project that operates within the DeFi network.
COMP Token
Source: Compound ICOs and Propaganda There has been an abundance of ICOs coming in 2018. According to data from CoinMarketCap, around 7,000 ICOs have been completed this year. Even so, the ICO market is not saturated; there are more than 500 other ICOs in various stages of completion. FOMO: You must Know About Crypto Wallets: Knowledge is power and education can be your wealth. One of the major reasons for the large number of ICOs this year is FOMO, which comes from an acronym, meaning Fear of Missing Out. In the crypto market, news is a currency and so is the attention. Most of the news releases and industry updates come from trusted sources such as CoinDesk and Coindesk.
Compound Features
Borrowing and lending There is an entire market for blockchain lending, and we've talked about that extensively on the blog. The DeFi community alone is massive, with a plethora of different crypto assets available. There is an even larger market for lending, and Compound aims to capitalize on that. The platform allows users to borrow a wide range of different assets on the protocol, which includes but are not limited to Ether, Bitcoin, Litecoin, PPC, DOGE, Steem, Satoshis, Digibyte, bitcoin cash, Siacoin, ether, ZEC, XRP, XEM, and many others. The Compound Platform enables users to either borrow or lend crypto-assets such as Bitcoin, Bitcoin Cash, Ethereum, EOS, Monero, and Litecoin through the Compound Platform.
Conclusion
Although some of these projects were in the crowdfunding phase for a long time, in order to be classified as a cryptocurrency project, they must be trading on exchanges and having a trading volume of more than $100,000. At the time of writing, EtherDelta had $6,272,832 worth of BTC and ETH traded with a total trade volume of $158,012,164, according to CoinMarketCap. EtherDelta was ranked at the fifth position on the list of the top ten cryptocurrency exchanges.