Maker is a decentralized autonomous organization on the Ethereum blockchain attempting to reduce the price volatility of its own stable token — Dai — against the IMF’s international currency basket SDR
What is Maker (MKR)?
Maker is an Ethereum-based utility and governance token works on the Maker smart contract platform. It is used for stabilizing another cryptocurrency called Dai through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors.” By using the Maker platform everyone can leverage Ethereum-based assets to make Dai, allowing the system keep them until the debt is paid off in an equal amount of Dai.
Maker (MKR): History
Maker was launched in August 2015 as the “first tradeable token on the Ethereum network.” Before the launch of the Maker platform in April 2016, it collected funds by providing MKR tokens for BTC and ETH through its own exchange. This project was led by Rune Christensen, set out to create a centralized-decentralized bank for Ethereum, the cornerstone of which would be an asset pegged to the US dollar. This asset become known as Dai and was released in December 2017. Maker gained attention from institution-scale investors, leading to massive increases in price that gave it a multi-billion-dollar market cap only a few weeks later.
How Does Maker (MKR) Work?
The Maker platform functions based on the principles of a DAO, or digitally autonomous organization. This indicates that a degree of artificial intelligence is used for controlling Maker’s ability to improve itself and stabilize the value of Dai. The stabilization process includes a human element. The Maker platform can be used by anyone for generating Dai by depositing collateral assets into the system in exchange for Dai. The assets are then released back to the holder after the debt has been paid off, plus proportional fees required to stabilize Dai. In short, Maker is half-AI and half-human, trying to choose the best qualities of both man and machine into blockchain functionality.
How to Buy Maker (MKR)?
First, you have to get a Maker Wallet to store your coins. You can choose MyEtherWallet for storing your coins. MyEtherWallet can store any coin on the Ethereum blockchain, including Maker. Then you can buy Ethereum by using Coinbase. Then trade it for Maker.
Maker (MKR) Price Prediction 2018
MKR can be a profitable investment option. Maker price equal to 976.524 USD at 2018-02-22. If you buy Maker for 100 dollars today, you will get a total of 0.1024 MKR. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-18 is 12008.1 US Dollars. With a 5-year investment, the revenue is expected to be around +1129.68%. Your current $100 investment may be up to $1229.68 in 2022. Maker (MKR) price today is $976.94 and have the current supply of 618,228 MKR. The market cap value is $603,970,819, and the volume is marked as $1,165,820. Maker price prediction, Maker price forecast, Maker price and news, MKR price forecast, MKR price prediction 2018, What is the price of Maker 2018.