Everything You Need to Know About Automated Market Makers
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
Automated market makers (AMMs) are an increasingly-popular branch of decentralized finance (DeFi), falling into the specific subset of decentralized exchanges (DEXs). AMMs’ broad goal is to reduce the number of moving parts that facilitate cryptocurrency trades by replacing limit orders (and the resources that go into fulfilling them) with an automated means of token price valuation. Sounds complicated, right? Well, it’s admittedly a concept that experienced crypto traders might grasp more easily than laymen. Put in simple terms, however, it’s not beyond your comprehension.      ..read more
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Understanding the Different Types of Crypto Wallets – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
The choice of which cryptocurrency wallet to use couldn’t be more important. You wouldn’t choose a physical wallet with a false bottom, and you should be at least generally aware of cryptocurrency wallet options so that you don’t choose a crypto wallet with potentially critical flaws. It might be helpful to begin by defining what a crypto wallet is. A cryptocurrency wallet is the digital storage locker for cryptocurrency, though many serve additional functions. Non-physical cryptocurrency requires a digital wallet, as well as private keys denoting who the owner of the wallet (and the cryp ..read more
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Everything You Need To Know About Decentralized Exchanges
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
Cryptocurrency exchanges, also known as EXs, are a means for consumers to purchase and sell tokens. They bring together buyers and sellers on a proven platform to trade cryptocurrency and, in doing so, help establish the market price for a given token. Many cryptocurrency exchanges to date have been centralized. That is, they are created and managed by a central authority. Exchanges such as Binance, Kraken, Coinbase, and Gemini are all centrally-managed crypto exchanges with significant user bases. A newer form of cryptocurrency exchange has entered the marketplace, however, and appears t ..read more
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Everything You Need to Know About Decentralized Autonomous Organizations (DAOs) – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
The sphere of decentralized finance (DeFi) is ripe with specific use cases serving specialized purposes. The concept of decentralized autonomous organizations (DAOs) is certainly relevant to conversations about DeFi, but it does not necessarily fit into the DeFi box—its potential applications are simply too great to be relegated to decentralized finance alone. Decentralized (or distributed) autonomous organizations are more of a model for governance than a specific use case within the blockchain-powered financial product sector. DAOs now take specific forms, and many of them are DeFi products ..read more
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Everything You Need to Know About Yield Farming – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
The uninitiated could be forgiven for thinking that “yield farming” refers to the latest crop of corn or peanuts. Rather, the term refers to a cutting-edge trend by which those who own cryptocurrency can reap guaranteed, steady returns. via GIPHY   Yield farming is a way for those who participate in specific cryptocurrency-powered products to use their crypto to earn crypto. By promising users tokens (and interest, in some cases) in exchange for their participation, founders and promoters of decentralized finance products aim to whip up interest in their platforms.   What Is Yield F ..read more
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Everything You Need to Know About Stablecoins – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
One concern that crypto skeptics might share is that cryptocurrencies such as Bitcoin are subject to significant price fluctuations. This, they might say, makes cryptocurrency impractical as a medium of exchange. While the dollar and other widely-used currencies also fluctuate in value, consumers may be less likely to experience inflation or deflation of the dollar (or Euro, or other fiat currency) as immediately as they would a change in their Bitcoin’s value. Prices may go up over time, ultimately reducing the purchasing power of your paper money, but the changes are generally more subtle th ..read more
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Everything You Need to Know About DeFi Lending – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
Lending has emerged as one of the most popular and practical use cases within the sector of blockchain-powered financial products known as decentralized finance (DeFi). The ability to borrow value-backed assets without the middleman, you say? That’s part of it, but there’s more to the story.   So what is decentralized lending, how does it differ from traditional lending, and what is the outlook for this relatively nascent category of financial products?   What Is Decentralized Lending? The mechanisms of decentralized lending are fundamentally very similar to traditional lending: One ..read more
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Everything You Need to Know About Quantitative Easing
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
In our recent study Perceptions and Understanding of Money — 2020, we surveyed Americans to gauge how well they understand the mechanisms of money, including concepts such as quantitative easing (QE). We hope that this “Everything You Need to Know” series will help improve understanding of money-related topics and issues which could not be more relevant today.   What Is Quantitative Easing?  Quantitative easing is a policy by which those in control of a money supply increase the amount of currency in circulation. There are various motivations behind such policies (more on that later ..read more
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5 Things To Know About Decentralized Finance – The DeFi Series
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
Decentralized finance, known as DeFi for short, is a trend in the crypto sphere gaining steam and showing promise, though credible reservations remain. Decentralized finance  is predicated on two primary principles: Decentralization, which is provided by blockchain technology Non-custodial products, meaning that there is no middleman between the user and the financial product being utilized, only a protocol   With these founding principles laid out, what is decentralized finance? What are its benefits and drawbacks, and how is it being viewed through the all-seeing eyes of regulato ..read more
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Everything You Need to Know About Monetary Policy
Genesis Mining Bitcoin Blog
by Genesis Mining
3y ago
In our recent study Perceptions and Understanding of Money — 2020, we surveyed Americans to gauge how well they understand the mechanisms of money, including concepts such as monetary policy. We hope that this “Everything You Need to Know” series will help improve understanding of money-related topics and issues which could not be more relevant today.   What Is Monetary Policy? Monetary policy refers to actions that governing bodies do (or do not) take to manipulate a money supply, as The Balance explains. The importance of the money supply cannot be overstated, as its relative size plays ..read more
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