What is Maker?
The Maker system consists of MakerDAO, a decentralized organization, and Maker Protocol, a software platform. The Maker system has as its primary purpose the creation of the DAI, a type of Ethereum token. The DAI is a stable coin tied to the United States Dollar. Its value remains pegged to the value of one dollar.
The Maker is the utility and governance token of the Maker System. It acts as a voting share for the organization rather than paying dividends to its holders. However, the token gives the holder voting rights pertaining to the furtherance of the Maker Protocol. The value of the Maker is predicted to increase in relation to the DAI’s success. The Maker is an ERC-20 token. That means that Ethereum secures and facilitates it. It originally launched in December 2017. It has a total supply of 999,551, and all of those are currently in circulation. There is no limit to the total number of Makers. In fact, it is the ability to manipulate the Maker’s supply that allows it to be the collateral for the DAI. If there is a downswing in Maker value and the number of Makers in the vault is insufficient to cover the value of the DAI, Maker will create additional currency to finance the amount.
The Maker offers an exciting proposal for its holders. It gives them the right to participate substantially in the governance of one of the world’s most popular stable coins, the DAI. The ability to directly influence such a popular cryptocurrency makes the Maker very attractive to investors. The relationship to such a popular currency affects its value and has resulted in its success thus far.
The first element of the larger Maker ecosystem was MakerDAO. Rune Christensen, a Danish entrepreneur, created the entity in 2015.
What are Maker Frequenty Asked Questions?
Where does Maker (MKR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Maker currently ranks in position 33 out of the thousands of cryptocurrencies. It is also important to consider Maker‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Maker has a market cap of $ 1,304,554,818, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 638,906,732,151, Litecoin at $ 9,616,116,384, Ethereum at $ 163,299,670,420, Tether at $ 24,842,833,181, and XRP at $ 12,665,394,425.
What is the price of Maker (MKR) today (updated in realtime)?
The current price of Maker is $ 1,446.07 in USD. (The price in Euros is 1.187,79 €; and the price in Bitcoin is Ƀ 0.04212100 BTC.)
How has Maker (MKR) performed recently?
Maker‘s price has increased in the last 24 hours by 2.57%. This compares with a seven day change of -0.03%. The trading volume over the last 24 hours was $ 165,775,875. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Maker (MKR) official website?
Links to Maker‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Maker (MKR) performed well historically?
Here is a chart showing how Maker has performed historically.
Where Can I Buy Maker (MKR)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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