Cryptoindex is a tool for exposure to the cryptomarket and serves as a smart benchmark for all cryptocurrencies. The AI-based Cryptoindex algorithm is continuously analyzing more than 1000 coins applying over 170 factors, processing more than 1 million signals per second to provide a highly sophisticated index of the top 100 coins.
You can find our previous reviews here:
Dash. Review - August 2018.
Binance Coin. Review
IOTA. Review. August - 2018
NEM.Overview
Ethereum Classic.Review
TRON overview.
Cardano - review. Future plans.
Ripple - review. Further Perspectives
Litecoin. June'18 overview
The Dow Jones index. From where did it come to us?
Bitcoin Cash. June 2018 overview
Are cryptocurrency indices a new crypto market trend?
EOS. End of May'18 overview
Ethereum. May 2018 overview
Here on our Cryptoindex blog, we will be posting 100 articles about each of the top performing coins selected by our powerful AI algorithm#CIX100coinreview.
Today’s review: Maker
Maker (MKR) is a digital token created on the Ethereum platform of the Maker project, whose main goal is to create a line of decentralized digital assets that would be tied to the value of real resources, such as currency, or gold, for example. On the basis of this platform, there are plans to create an exchange in which it would be possible to carry out marginal trade in tokens on the ERC20 protocol.
The urgency of creating a stable cryptocurrency - a stablecoin - is often emphasized by many analysts and developers. There is no relationship between digital money and certain values prevent its integration, and the high level of volatility does not allow full use of cryptocurrency as a means of payment for widespread usage.
The Maker project seeks to eliminate such obstacles by forming digital analogs of fiat currencies on the basis of the Etherium. Similar attempts have already been tried previously, the developers themselves cite the following comparisons:
The long-awaited “stablecoin” was developed by the Maker project. By itself, it is a decentralized organization that is completely autonomous (abbreviated DAO). The stablecoin is named Dai and supports the standard ERC20. MKR token finances the project activities. The company gained the support of the Ethereum Foundation, and,according to developers, is an integral and essential element in the ecosystem of Ethereum itself.
MKR is needed to attract investors to the Maker project itself. MKR holders are similar to shareholders, but instead of a joint stock company, a decentralized autonomous organization (DAO) comes forward.
These shareholders are the highest authority in the company, they solve all global business issues, they themselves distribute the profits, and they are responsible for their decisions with their invested capital.
The release of a decentralized stablecoin is certainly a very good and useful idea, opening up broad horizons of usage in the financial and commercial spheres. It gives competitive advantages such as:
All this allows it to function successfully in the modern online space, winning more and more fans.
A significant advantage of this token is the ability to implement absolute anonymity when performing any operations. This can be achieved thanks to the zk-SNARK technology already used in the Zcash cryptocurrency, or the ring signatures used in Monero.
Analysts have pointed out a certain potential of the Maker project. The exchange rate shows an upward trend even with long-term corrections. The issue of coins is only one million, while it is planned to reduce this amount over time, making MKR full-fledged shares.
Given the gradual development and further expansion of the platform, the prospects for long-term investment in Maker are highlighted. With the increasing number of stable cryptocurrencies on the platform, with ties fiat money, as well as increasing the relevance of the project at the user level, the cost of its tokens will inevitably grow.
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