Last Updated on November 29, 2022 by Bitfinsider
Ethereum has expanded on Bitcoin’s decentralized digital currency by constructing a global network that supports an interconnected marketplace of decentralized applications (dApps) — from decentralized autonomous organizations (DAOs) to Initial Coin Offerings (ICOs), stablecoins, decentralized finance (DeFi), and non-fungible tokens (NFTs). Ethereum’s application cases are extensive and rapidly developing, allowing blockchain initiatives to deliver greater efficiency, security, and decentralized equity to sectors around the world.
Decentralized Finance (DeFi)
Decentralized finance refers to financial services and goods, such as lending, borrowing, and earning interest, that can be accessed on public blockchains, such as the Ethereum blockchain, without the approval of a third party, such as a bank.
Non-fungible Token (NFT)
Decentralized Autonomous Organizations (DAO)
Decentralized autonomous organizations are blockchain-based organizations that operate without central authorities. A community of stakeholders votes on administrative decisions, which are governed by software-encoded rules. DAOs were among the earliest innovations tested on Ethereum and continue to have an impact today. Although the 2016 hack of the first Ethereum-based DAO was a watershed moment in blockchain history, DAO continue to be open-source and community-governed. Several DAO, such as MolochDAO and MetaCartel, operate similarly to the original DAO by pooling user funds and distributing grants to Ethereum entrepreneurs.
Initial Coin Offerings (ICO)
Initial Coin Offerings, commonly known as ICOs or Token Sales, is a way of funding whereby early-stage startups generate “tokens” and sell them for Ether. Individuals purchase these tokens in order to use them within the application that the startup is developing, or sometimes for purely speculative reasons.
Bancor was one of the largest Ethereum ICOs, raising $153 million in three hours through the sale of its BNT coin.
On the Ethereum blockchain, it is possible to create custom currency that may be purchased with ETH. Tether and USDC, the two largest stable coins on the cryptocurrency market, are examples of cryptocurrencies based on Ethereum.
ProEX Brainstorm Challenge Season 2
During the event, submit the correct answer to the form provided by ProEX. Users who answer correctly will have a chance to qualify for the draw.
Those who answer correctly will have a chance to receive a reward.
Bonus A : For all users, as long as you submit the answer, use your invitation code to invite your friends to submit the form. If one of them answers correctly, both of them will get an additional 0.5 USDT.
Bonus B : limited to the first 200 users who answered incorrectly, after the event ends and you receive a notification email, if you take a screenshot of the email content and share it with any public blockchain community/group and prove the return in the email, you will get 1 USDT.
Event Duration: (UTC+8) 11/26 00:00 ~ 12/09 23:59
- The same UID can only submit an answer once, the system will use the first version of your answer, the second version of the answer will be invalid
- Friends must register with your invite code
- Your friend must be a new user and complete KYC during the event period to be eligible for Bonus A
- All participants must pass real name authentication during the event
- The reward will be paid out 14 working days after the event ends and will be transferred to the winning user’s account
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.