Maker (MKR)

Maker (MKR) is a cryptocurrency coin founded by the financial services provider MakerDAO. It is a fully decentralized, open-source asset that exists on the Ethereum blockchain and is used for creating smart contracts on the Ethereum network. What makes Maker crypto currency unique is its utilization of a decentralized debt marketplace, which allows users to borrow or lend money to each other with complete control and security. This is made possible by the decentralized ledger technology of the Ethereum network. The Maker currency is ERC-20 compliant, which means it is compatible with Ethereum wallets and can be exchanged for other cryptocurrencies or fiat currencies on exchanges like Kraken and Binance. Maker’s decentralized debt-marketplace is used to create and manage smart contracts, providing users with a more efficient way to access and secure financing. By leveraging its native token, DAI, and its decentralized lending pool, users can access quick, low-cost loans with few restrictions. MKr can also be used to collateralize these loans, making it an easy and safe way to increase loan amount and repayment term. Users can also use MKr to purchase goods and services, with merchants having the ability to accept payments in DAI, the decentralized fiat-collateralized stablecoin which is backed by Maker. Unlike other cryptocurrencies, MKr has no fixed value, as it’s influenced by the price of DAI and its collateralization rate. This means that the value of MKr is subject to market fluctuations and can both increase and decrease depending on how people are using DAI. For those interested in buying or selling MKr, the currency can be found on major cryptocurrency exchanges like Kraken and Binance, as well as a variety of other exchanges. Additionally, users can purchase MKr directly from MakerDAO’s website, or through their official mobile app. Overall, Maker is a unique cryptocurrency which offers users an efficient and secure way to access financing and to collateralize their loans. Through its decentralized debt-marketplace, Maker also provides users with a low-cost and trustless way to purchase goods and services, as well as store their fiat currency on the blockchain.