ETH is volatile. What about Dai? xDai?

Ethereum is probably one of the most well-know cryptos around the world, together with Bitcoin obviously. 

Its value has kept increasing at an incredible pace over the past few years. The advantage has also been that it was very cheap to send ETH back and forth. 

However it has become increasingly expensive to exchange ETH.  Just imagine that you want to send the equivalent of 50 USD in ETH to a friend. It used to cost a few cents in what is called “gas fees”. Now, it’s sometimes 25 USD!

Not only can it be expensive to exchange ETH, but ETH is also extremely volatile. Therefore, a USD-pegged version of ETH was created: Dai! That’s good if you want to have a bit more stability, but it does not solve the gas fee issue. 

Therefore, xDai was created! xDai is actually based on another blockchain but it is compatible with ETH and linked to Dai actually. 

Now, while xDai is probably not as secure as ETH/Dai, the advantage is that the gas fees are nearly null. This makes it possible to experiment with a crypto (your own crypto even) at a very minimal cost. 

Enjoy! 🙂

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A visual demo of blockchain

Have you heard a lot about blockchain, but still wonder how it works?

In this video, Anders Brownworth shows what a blockchain looks like, how “hashing” enables security and, in short, how it actually works. This is a video that you will quite probably find highly interesting if you are new to the topic!

 

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Blockchain in the insurance sector

PwC

“22% of insurance, asset and wealth management business is at risk to disruption from FinTechs according to our Global FinTech survey. Almost three quarters of insurance leader surveyed in the survey considered that insurance would be the most disrupted industry. Meanwhile, complex processes with multiple interactions, duplication of data entry and risk of fraud slows down traditional players’ ability to react.” PwC

Source: https://www.pwc.co.uk/financial-services/fintech/assets/blockchain-in-insurance.pdf

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