[EP3 Episode 3] APP+D=Dapp, are decentralized applications more fragrant?

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EP3 Episode 3 | APP+D=Dapp, are decentralized applications more fragrant?

First of all, everyone, I'm sorry for being late! Sorry for not making it on time for you to wait. Why be late? In fact, it's because...we are preparing a new project! As for the content, it's just a matter of selling, please look forward to WTB! This time, as usual, thank you for listening to our Podcast and reading the article, and please go to the Apple Podcast to give us five-star praise and invite us to drink coffee through Firstory's small sponsorship ~

This episode is about decentralized applications - Dapps, which is one of the ecosystems that the entire blockchain industry is looking forward to and paying close attention to. There are many types of Dapps. You can trade financial products without a fund manager, and you can freely own unique game props and cards. The use of Dapps is actually the same as the apps that everyone uses on their mobile phones. Very big difference, although the entry barrier is a bit high, but I highly recommend everyone to try it!

The following are a few key points mentioned in the audio, I hope you can understand more~

Explanation of proper nouns in audio

1. Cross-chain Dapp: Since the initial Dapp can only run on the blockchain used in the original development, such as the Dapp running on Ethereum, it is often criticized for its slow transaction speed, which reduces the player's willingness to play, so it is often developed later. The team uses a cross-chain approach to allow users to use applications on different blockchains. For example, Blockchaincuties can use wallets such as Ethereum, EOS and Tron to log in to the application, which can increase the number of players while increasing the transaction speed.
2. Virtual currency wallet: One of the ways to store virtual currency, which is safer than storing it in a centralized exchange. It is usually a web version or a mobile app so that users can directly and simply operate the virtual currency assets in their hands, without the need for actual The web version is based on Metamask, and mobile applications such as Taiwan's Blocto , Dapp Pocket , China's imToken, etc.
3. DeFi: Decentralized Finance, also known as open finance, originated from the cryptocurrency native community. The essence of DeFi enables users to no longer need traditional intermediaries (banks) when providing financial services based on blockchain technology. , fund managers, etc.) can perform operations on their own, thus creating a new financial system independent of traditional finance, which has the advantages of lowering the threshold for people to use financial services, uploading transaction records on the chain, transparency and openness, and improving efficiency.
4. Trading Liquidity: Liquidity refers to the ability to trade on the market without affecting its price, if a trading pair has an extremely high volume on the market (like BTC/USDT on an exchange), liquidity is usually high because It is easier to find buyers and sellers of the asset. In this way, traders can quickly close their positions, and there will be no "slippage", and the trading behavior is relatively safe. Lack of liquidity can increase the risk of trading, known as liquidity risk.
5. Stablecoins : Virtual currencies with fiat-pegged value. The current stablecoins are almost all based on the US dollar and the ancestor of USDT. Later, USDC, TUSD, and PAX appeared in the market. The difference is that USDT is traded by centralized exchanges. The frequent additional issuance by the team behind Bitfinex has also caused a rebound from many people, so that the current market share of USDT is still the highest, and USDT has previously caused a crisis of confidence due to insufficient reserves; in contrast, USDC, TUSD And PAX is backed by trust institutions or issued by regulated financial institutions, which is relatively safe.

Supplementary resources and extended reading:

• Inheriting the Cryptokitties storm, Blockchain Cuties Universe leads a new wave of collectible games

• [De-fi series] Talking about the origin of Defi and its main classification introduction

• Defi Pulse : DeFi application instant observation data website

Dapps mentioned in the Podcast:

1. Compound – a smart contract lending platform that concentrates all users’ assets in a liquidity pool, where funds can be withdrawn and deposited at any time, similar to the concept of survival.
2. Dydx – Same as Compound, but in addition to lending it can also do margin trading.
3. Aave – The same decentralized money market protocol, originally a P2P lending platform, and later converted to a common fund pool like Compound, enabling users to find supply and demand more instantly.
4. Set Protocol – Tokenset is the first asset management automation platform based on Set Protocol. They tokenize trading strategies so that users can easily participate in different types of trading strategies by purchasing tokens. Recently, they launched Set Social Trading (Social Trading). ) function, similar to the Etoro function, professional traders can provide their own strategies for general traders to execute trading strategies synchronously, and at the same time charge fees to these general traders.

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Original link to Daily Coin Research