Assets, Ethereum

Is MakerDAO an Ethereum?

What is MakerDAO?

MakerDAO is a decentralized autonomous organization on the Ethereum blockchain that created and maintains the Dai stablecoin. The Dai stablecoin is a collateral-backed cryptocurrency whose value is stable relative to the US Dollar.

MakerDAO’s governance system is decentralized and community-driven. Anybody can become a maker and help to shape the future of the organization.

What is Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is used to build decentralized applications (dapps) on its own blockchain.

NOTE: MakerDAO is not an Ethereum. It is a decentralized autonomous organization (DAO) that runs on the Ethereum blockchain. MakerDAO’s products, such as the Dai stablecoin, are used to create a decentralized system of financial stability and control. While MakerDAO’s products and services have been designed to operate in compliance with Ethereum-based protocols, they are not part of the Ethereum network or any other blockchain network. Please be aware that MakerDAO is not an Ethereum and should not be confused with one.

Ether, the native cryptocurrency of Ethereum, is used to pay for transaction fees and computational services on the network.

So, Is MakerDAO an Ethereum?

No, MakerDAO is not an Ethereum. Ethereum is a decentralized platform that runs smart contracts, while MakerDAO is a decentralized autonomous organization that created and maintains the Dai stablecoin.

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