DAI is the first decentralized, collateral-backed cryptocurrency. It strives to maintain a stable 1:1 value with the U.S. dollar by locking other crypto assets in contracts, and it is run by a decentralized application on the Ethereum blockchain rather than a centralized company.
The open-source software behind DAI is called the Maker Protocol, and the governance token of the system is called MKR.
Paul Puey (Edge CEO) and I explain how exactly it works.
We also put our money where our mouths are: we each decide whether to invest $100. This is not investment advice, we're just giving you a peek into our own portfolios and how we make decisions for ourselves. Keep in mind, I'm more interested in the team, the tech, and whether it's a cool project than in short term gains.
If you’d like to see my extended interview with Nik Kunkel, MRK/DAI dev, head to the members' content at https://NaomiBrockwell.com/memberships
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Paul is such a good sport, lol, I've been wanting to ask him about an Edge dapp browser forever, it's literally the ONLY thing missing from the app; but I totally understand their perspective with regards to Apple, I discussed the same thing with the Bitcoin.com wallet team and "The User Experience" is also their #1 priority..
Although the curated approach "works best", it still feels like having a web browser with ONLY bookmarks and NO url bar. And now that Metamask is changing their licensing terms (https://medium.com/metamask/evolving-our-license-for-the-next-wave-of-metamask-users-81b0b494c09a), maybe Edge would be interested in sponsoring an open-source, multi-coin, dapp-ready wallet for the crypto community 🧐