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Close up of top important cryptocurrencies which dollar bank note in background. which including of Bitcoin, Ethereum, Litecoin, Dash, Zcash and Ripple coin. Business and financial as concept.

What Happens If You Want To Lend or Borrow in Crypto?

In the world of Web 3.0, the borrower is anonymous, so collateral is a must

In this second part of “Staking and Liquidity on Web3”, the fifth episode of the podcast series between computer engineering prof Robert J. Marks and engineers Austin Egbert and Adam Goad, the discussion centers on making and taking loans in cryptocurrency. In the first part, we looked at changes in how cryptocurrency is produced: Ethereum is moving from mining to staking this month. In Episode 4, the discussion centered on what a decentralized financial system would look like and on challenging new concepts like flash loans and smart contracts. Dr. Marks is the director of the Walter Bradley Center. https://mindmatters.ai/wp-content/uploads/sites/2/2022/08/Mind-Matters-203-Adam-Goad-Austin-Egbert.mp3 A partial transcript of the first part, notes, and Additional Resources follow: Robert J. Marks: Now there’s something in staking…

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Stony pebble yellow background

Staking and Liquidity on Web3

Like gold, cryptocurrency such as Bitcoin is mined. Gold becomes harder and harder to find as it is mined. In the same way, as the supply of a cryptocurrency increases, computers have to solve harder and harder problems to be awarded cryptocurrency. Staking is a is a new approach that replaces mining and reduce costs. How does it work? Adam…