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      Maker

      Maker

      Total Supply
      987156
      Circulating Supply
      987156
      Max Supply
      0

      Maker(MKR) price, charts, news, marketcap

      1 MKR = 307.38700 USDT 11.00%

      About Maker

      Maker is decentralized autonomous organization and smart contract platform that runs on Ethereum. Its comprised of the MKR token and the Dai stablecoin. Maker’s main purpose is to act as a dynamic system to stabilize the value of the Dai against the US Dollar , pegging it at a 1:1 ratio (1 Dai=1 USD). Stablecoins like Dai are a safe haven from the wild volatility of the crypto market. Maker is a good example of the many spectacular products and services that people are building on the Ethereum smart contract platform. As the Dai is generated based on demand in exchange for Ether, usually at a 150% rate. If Ether is trading at 100$ , then you will need 1.5 Ether or 150$ to create the Dai. With 100 Dai valued at 150$ worth of Ether , it might seem like a strange investment. However, if you wish to return the 100 Dai you will always get 150$ worth of Ether, regardless of price fluctuations. This destroys the 100 Dai in the process. The MKR token is the only that can be used to pay the fees for generating Dai and is also used as voting power by MKR holders to decide on the changes brought to the network but also for proposing changes.

      Read more about Maker

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      Total Supply
      987156
      Circulating Supply
      987156
      Max Supply
      0
      Total Marketcap
      300620590
      Volume
      43.78
      Open
      276.93
      High
      314.38
      Close
      307.39
      Low
      280.36

      Charts

      Maker

      Exchange

      Period

      all 1y 6m 3m 1m 7d 1d

      Index

      Chart Type

      CoinExchangeData Loader

      History of Maker(MKR)

      Maker like all other cryptocurrencies is based on the model of the first actual cryptocurrency, Bitcoin. However, before Bitcoin’s and Maker’s time , cryptocurrencies were much more different, relying instead on a centralized power structure rather than the decentralized governance we see today. If it weren’t for the works of cryptographers such as David Chaum, Wei Dai, Nick Szabo and Hal Finney, who established some of the ground concepts for modern cryptocurrencies, Bitcoin, Ethereum and Maker would not exist today. However, the most important reason why Maker was made possible is thanks to a person or a group of people under the alias Satoshi Nakamoto. He took the concepts that cryptographers before him established and managed to create an actual peer-to-peer electronic money system that couldn’t be counterfeited. If Satoshi Nakamoto didn’t create Bitcoin, it is hard to say if Maker or most cryptocurrencies would exist today.

      Maker is a cryptocurrency with the symbol MKR and it’s price ticker on our website is 307.39. Its current price is 307.39 and the total change over the past 24 hours is 30.46. Maker boasts a volume of 43.78 in the past 24 across your selected exchanges.

      Maker Characteristics

      Cryptocurrencies like Maker use strong cryptographic protocols, or very complex computer code to secure transfers of information, in order to create a safe system that is notoriously difficult to crack. The programmer of digital currencies such as Maker base these protocols on complex mathematic and computer engineering fundamentals, creating a structure that makes it impossible to replicate funds for Maker and also hides the identities of the parties involved on any transaction on Maker network , unless the participants freely disclose their information.

      Maker Operates on a Blockchain

      Maker, like most cryptocurrencies operates on a blockchain, a new and disruptive technology that offers benefits for storing, securing and transferring information that was not otherwise possible before its inception. The idea of blockchain was first discovered in 1991 by Stuart Haber and W. Scott Stornetta, however it was not until an anonymous person or group under the alias of Satoshi Nakamoto that created the first functional blockchain (Bitcoin’s blockchain) and improved on the ideas of Haber and Scornetta to create a truly functional distributed ledger.

      You can imagine the blockchain that Maker is based on as a giant, distributed database where every transaction’s information is recorded and then spread on a massive network of connected nodes or computers. The information for transaction of Maker is then multiplied and stored on each individual node, so in order to change it you would have to access he majority of the Maker’s nodes at the same time, which has so far proven to be impossible.

      The advantages that Maker runs on a blockchain are that it is very cost effective to run, compared to other centralized resources, due to the cost of operating being split amongst all the network participants.

      No one can alter the defining characteristics that govern Maker base, unless certain conditions are met and changes are implemented by the developer team or a network wide consensus is reached for the changes to be applied.

      One disadvantage of operating on a blockchain is that generally, transactions with Maker are final, meaning that is very unlikely that a transaction can be rolled back if a mistake occurs. Be careful when transacting cryptocurrencies such as Maker and make sure you double check all the details of the transaction before submitting it.

      Maker also boasts a higher degree of safety, as the mechanisms of the blockchain are incredibly hard to crack

      Maker Advantages

      Decentralized Point of Control

      Maker (MKR) is defined by a decentralized governance system, which does not rely on a single point of control to manage transactions on the network in the same way a bank would. Because of this Maker’s network features a distinct advantage that makes it very difficult to counterfeit or imitate. Another advantage of being decentralized is that any attacks on Maker’s network will have to be in multiple places at the same, whereas a bank or any centralized system will have an host of servers in one place.

      Cost Efficient

      Generally speaking, auditing records is a time consuming and expensive process, whereas for Maker which stores all its records on the blockchain, this can be done with minimal effort and in a much shorter time.

      Establishing a Digital Identity

      You can create your own identity on the Maker blockchain, which can be though of as an account of sorts. Whenever you open an “account” on the Maker blockchain, you will be given a private key, which lets you interact with the blockchain, and a public key, which let others identify and interact with you.

      Immutable

      Since all information that is transmitted on the Maker blockchain is stored and secured on a wide network of computers or nodes, you can always be sure that the information presented is valid and has not been tampered with.

      Maker Supply Details

      Maker is distinguished from traditional fiat currencies due to way the supply works for most cryptocurrencies. Another interesting fact about Maker’s supply is there can be two other types of supply aside from the maximum supply. One is the total supply which indicates the amount of coins there are currently in existence. For Maker the total supply is 987156. This is the sum of all Maker units that have been mined or created since the network’s creation. . The other one is the circulating supply which for Maker is 987156. This can be different that the total supply due factors such as funds being locked in escrow, coins being locked in masternodes.

      How to Store Maker

      There are a few way to store your Makers , and they all involve a certain types of both physical and electronic wallets. Regardless of what kind of wallet you will use, in order to access your Maker funds you will need to have a private key and a public key. With the private key, you can access your funds and send them to whoever you like, just as long as it is an address that Maker is compatible with. Never ever disclose your Maker private key or also called private address, as this will give anyone who has it full control over your wallet. The other type of key is the public key or address, which is used for other people to send Maker to your wallet, and this one can be freely disclosed but it can be used to identify you if a name is ever associated with your public address.

      Maker Paper Wallet

      The only physical and non-electronic way to store your Maker is through a paper wallet, and this is possibly the safest way to protect your Makers. Simply write the private and public keys of your Maker wallet on a sheet of paper, however you will need access to an electronic device should you choose to send or move your Maker funds to another address. The risk here is losing or damaging the sheet of paper with your Maker public key.

      Maker Hardware Wallet

      You can store Maker on a device like a Trezor or USB drive. You are able to make online transactions by plugging them into any any net enabled device to send Maker to another address. Usually the hardware device that you store your Maker on is offline which is a great security advantage. Please conduct proper research before purchasing any hardware wallet to store Maker funds on as many are outdated or of poor quality.

      Maker Desktop Wallet

      Desktop wallets are a convenient and easy way to store your Maker coins. Find a reliable wallet software that support Maker install it on your PC and that’s pretty much it. It can be dangerous if any virus infects your PC or if any physical damage comes to it, which can result in the loss of all your Maker funds.

      Maker Online Wallet

      For online wallets, they operate in the cloud and your private and public keys for your Maker funds are stored in the cloud as well. Very handy if you plan to access it from multiple devices but they also put your Maker at great risk due to security breaches in the cloud storage which is not that unheard of.

      Maker Mobile Wallet

      The most easy-to-use method of storing Maker is on a mobile wallet. It is a simple smartphone application where you set up an account and you can use it to send Maker by scanning a QR code or even use it to pay in any shops that accept Maker. However, your Maker funds can be lost if your phone is damaged or if its security is breached.

      Maker Summary

      Maker’s network can be defined as a payment system, with accounts, transactions and balances. You can store Maker on one of the wallet types mentioned above and it will act as your own personal bank account that you are responsible of maintaining and keeping your private keys secure. Maker as a cryptocurrency allows you to make secure transactions and you can always check the transaction details by checking the Maker public ledger, if applicable. This revolutionary method of being your own bank assured that Maker and other cryptocurrencies will play a vital role in the way we conduct transactions and how we define currencies in the future.

      What you can do with Maker on CoinExchangeData.

      You can add Maker to your watchlist on our platform, in order to keep better track of its price movements. Another handy way to always be up-to-date with any prices changes is to add alerts for Maker and you can do so by set up your personalized alerts by creating an account and going to the alerts tab. Charts and price metrics for Maker are readily available and we guarantee that the information supplied by CoinExchangeData is as accurate as possible. All the volume and price information regarding Maker reflects the same information you can find on exchanges, so it is very easy to find the best exchange to purchase or sell Maker on. Our converter lets you find accurate conversion quotes for Maker against other cryptocurrencies and most traditional fiat currencies. You can use it to see if exchanging Maker for another digital currency can be a more profitable investment or just to check the value of your portfolio.

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