CryptoRocks

Algorand is a public, permissionless and pure proof-of-stake based blockchain that provides decentralization, scalability, low transaction costs and security. Developed by Turing Award winner Silvio Micali, Algorand is an ideal Layer 1 solution for building decentralized financial applications (DeFi).

Folks Finance is a permissionless algorithmic capital market protocol running on the Algorand blockchain. Folks Finance focuses on lending and borrowing assets in the Algorand DeFi ecosystem. Offering advanced strategies by utilizing smart contract technology, Folks eliminates the risk of central intervention.

Algorand is a public, permissionless and pure proof-of-stake-based blockchain that offers security, decentralization, scalability and low transaction costs. Algorand is the brainchild of Turing Award winner Silvio Micali and is an ideal Tier 1 solution for building decentralized financial applications (DeFi) with enterprise reliability.

Folks Finance, on the other hand, is a permissionless algorithmic capital market protocol built and operated on the Algorand blockchain. Folks Finance focuses on lending and borrowing assets in the Algorand DeFi ecosystem. Also, Folks leverages smart contract technology to provide advanced strategies. It also eliminates the risk of centralized intervention.

Folks Finance's mission is to open DeFi to the masses and provide decentralized financial services that are convenient, friendly and accessible to everyone. The name of the protocol, Folks Finance, is inspired by its mission to open decentralized financial services to the masses. The protocol is designed to be community-centric and gives control to its users with decentralized management. Practically, by lending or borrowing, users can earn FOLKS, the management token of the protocol, and vote and propose future updates of the protocol.

In addition, FOLKS holders are rewarded with loyalty incentives. Another important feature of Folks Finance is the gALGO token. gALGO token is an ERC-20-like token running on the Algorand blockchain. gALGO token is a token used for Algo Liquid Management by Folks Finance. The gALGO token is given to users who commit their ALGO to participate in the Algorand Foundation Administration. Thanks to the gALGO token, users can use their ALGOs as collateral in the Folks Finance protocol, provide liquidity in DEXs or buy NFTs.

They can also vote on the recommendations of the Algorand Foundation with the gALGO token or make suggestions on how to run the Folks Finance Liquid Management program. The gALGO token is minted at a 1:1 ratio with the committed ALGO and can be recycled into ALGO at the end of the administration period.

How Folks Finance Works?

Folks Finance is a leading capital market protocol for lending and borrowing in the Algorand DeFi ecosystem. Basically, through lending transactions, Folks users can provide liquidity and earn interest. Through borrowing transactions, users can borrow assets against collateral and apply different strategies. Folks Finance Loan and Borrow work via smart contracts.

Users can link their wallets by going to the Folks Finance website and deposit or withdraw supported assets to the protocol. Lenders earn interest on the assets they deposit. Interest rates are determined dynamically according to market supply and demand. Borrowing users can borrow other assets up to a certain percentage of the assets they have deposited as collateral.

They pay interest on the assets they borrow. Interest rates are determined dynamically according to market supply and demand. Borrowing users should pay attention to the collateral rates. The margin rate is calculated by dividing the value of the assets deposited as collateral by the value of the borrowed assets. The lower the margin rate, the higher the liquidation risk. Liquidation means selling some of the assets deposited as collateral and closing the borrowed assets. Liquidation can be carried out not only by the protocol, but also by promoted liquidators. Folks Finance offers many advantages for lending and borrowing in the Algorand DeFi ecosystem. Some of these are those:

Security: The Folks Finance protocol runs on the Algorand blockchain and leverages the level of security that Algorand provides. In addition, the Folks Finance protocol has passed independent security audits and its smart contracts are open source.

Speed: The Folks Finance protocol takes advantage of the fast transaction times that Algorand offers. The Algorand blockchain can process thousands of transactions per second, and transactions can be confirmed in a matter of seconds.

Low cost: The Folks Finance protocol benefits from the low transaction fees that Algorand provides. The Algorand blockchain charges a flat and low fee of 0.001 ALGO per transaction. This makes the Folks Finance protocol a cost-effective option for users.

Diversity: The Folks Finance protocol supports various entities in the Algorand DeFi ecosystem. Besides ALGO, users can borrow or buy other assets such as USDC, USDT, ASA tokens. It also supports liquid management tokens such as Folks Finance protocol, gALGO.

Flexibility: The Folks Finance protocol offers its users a flexible lending and borrowing experience. Users can deposit or withdraw their assets at any time. In addition, users can choose different types of borrowing. For example, with a flash loan, users can borrow short-term without collateral.

How to Use Folks Finance?

Folks Finance is a decentralized DeFi protocol that runs on the Algorand blockchain and provides financial tools for digital assets. Smart contract technology enables Folks Finance to offer advanced strategies and eliminate the risk of centralized intervention. Users can earn interest by depositing their assets or get loans by using their deposited assets as collateral.

Here's what you need to do to use Folks Finance:

Upload ALGO or other supported assets to your Algorand wallet.

Link your wallet.

If you want to deposit assets, select the desired asset and click the “Deposit” button. A window will open. Type the amount you want to deposit. Click on Deposit. Sign with your wallet.

If you want to withdraw an asset, select the asset you want to withdraw and click Withdraw. A window will open. Type the amount you want to withdraw. Click Check. Sign with your wallet.

If you want to create credits, go to the Credits page. Here in the Your Credits table, click + Create new credit. A window will open. Type the name of your loan. Choose a loan type between General, Fixed currency efficiency or ALGO efficiency. Click on Create credit. Sign with your wallet.

If you want to provide collateral, locate the asset you want to use as collateral in the Ready to Use as Collateral table on the Loans page. Click Use as Collateral. A window will open. Select the loan you want to deposit. Type the amount you want to use. Click Use as Collateral. Sign with your wallet.

If you want to borrow money, in the Loans Available table on the Loans page, click Borrow. A window will open. Select the loan you want to borrow. Type the amount you want to borrow. Choose between Stationary or Variable APY. Click Borrow. Sign with your wallet.

Folks Finance provides a cost-effective, fast and secure option for lending and borrowing in the Algorand DeFi ecosystem. Also, if you join Algorand Liquid Governance through FolksFinance, you will receive gALGO tokens in exchange for your ALGOs and you can use it on many platforms. In short, your ALGOs are not only locked, but also offer the advantage of use.

Cudos blockchain is decentralized cloud and computing network. Cudos aims to create a decentralized, sustainable and connected world using idle computing power. The Cudos blockchain offers DeFi and dApp developers and services the ability to connect to a global pool of computing power.

In this way, it is possible to create more cost-effective, greener and more powerful applications and smart contracts. Cudos blockchain offers scalable smart contracts in the Rust language. In this way, DeFi and dApps can work faster and more efficiently. In addition, the Cudos blockchain provides layer 2 computing, enabling any WASM, container or virtual machine workload to be supplied to one of the world's largest distributed networks.

This means that Cudos blockchain unites both the cloud and blockchain worlds. Another advantage of Cudos blockchain is its low cost and fast transaction processing. The Cudos network completes cost-effective transactions in seconds, making it ideal for scalable applications. Cudos blockchain also offers the possibility to create NFTs and digital assets.

Developers can distribute their NFTs on the Cudos blockchain or create their own tokens. Or they can connect with Oracles on/off-chain for data services or offer their own data services to our network and all bridged blockchains. There is a strong ecosystem behind the Cudos blockchain. Cudos' partners include leading companies such as NVIDIA, Algorand, Cosmos, Cosmostation, Cryptocom, Huobi Global. Cudos' backers include strategic funds such as Borderless Capital, Moonrock Capital, and Doublepeak Capital. There are more than 27 validators on Cudos' mainnet and more will join soon.

Cudos blockchain is a special purpose blockchain designed to provide high performance, reliable and permissionless cloud computing. Network consensus is achieved using Tendermint Core and the Byzantine Fault Tolerant Proof of Stake (DPoS) algorithm. In addition to using Tendermint Core, the Cudos network resides within the Cosmos Hub region powered by the Cosmos SDK. Thus, high transaction volume, accessibility and security are achieved. Cosmos Hub is a shared security zone that guarantees that every ad hoc blockchain in the Cosmos ecosystem, including the Cudos network, benefits from the highest levels of security and development support from the robust open source community.

The core mission of the Cudos network, the promise of computing, is extended beyond Cosmos-based blockchains using private bridges and cryptographic approaches for cross-chain interaction. This includes the pioneering ability to embed high-performance computing workflows in the multi-fabric of blockchain smart contracts, thus enabling additional use cases. This higher level of performance and security is made possible by Cudos Blockchain's ability to leverage a strong validator community with robust node infrastructure. What are the benefits of DeFi and dApp development on Cudos Blockchain?

Here are some:

- You can build faster and more efficient DeFi and dApps by deploying scalable smart contracts in Rust.

- Take advantage of Layer 2 computing, which provides scalable decentralized blockchain computing.

- Provision WASM, container or virtual machine workloads to one of the world's largest distributed networks (300,000+ users).

- Our network completes low-cost transactions in seconds and provides scalable applications.

- You can digitize your assets or create your own tokens by distributing NFTs.

- You can connect to Oracles for on/off-chain data services or deploy your own data services across our network and all bridged blockchains.

The benefits of DeFi and dApp development on Cudos Blockchain are not limited to these. Other benefits offered by Cudos include secure and transparent network management, an environmentally friendly commitment to carbon footprint reduction, a large partnership ecosystem, and native CUDOS tokens listed on multiple exchanges. Validators are people who commit funds through a process called staking.

They certify and validate every transaction proposed to the network with high availability and confidence levels evaluated in a real-time and predictive manner. The Cudos network rewards the most performing validators with predictable revenue streams and quickly removes malicious actors from the Proof of Stake network to provide a higher level of security for all participants.

Artificial intelligence (AI) and blockchain are among the most popular technologies of recent years. Even though they are both used in different areas, there are many points where they are connected to each other. One of these points is the impact of AI on blockchain technology. When combined with blockchain technology, AI opens up new and never-before-seen opportunities. This interaction can have a transformative effect across many industries.

The combination of blockchain and AI brings security, efficiency and scalability to blockchain technology. For example, blockchains in blockchain networks can be very large and AI can be used to process this data. AI algorithms can analyze blockchains and detect errors to ensure the proper functioning of blockchain networks. This can avoid security issues in blockchain networks.

Blockchain technology is a method used to store data securely. This technology allows data to be stored on a blockchain. Each block can contain many transactions, and each transaction depends on the previous transaction. This makes it very difficult to modify or delete data.

Another important feature of blockchain is that data does not need to be stored in a central location. Data can be stored in many different locations and accessible to everyone. In this way, the security of the data is further increased.

What is Web3 Technology? Web3 technology is a collective term for a set of protocols and technologies that enable the distribution of the web. It is a new way of accessing and interacting with the internet where users have control over their data, identity and assets.

Web3 technology provides a secure, reliable infrastructure for data, identity and asset management. It is powered by distributed ledger technology (DLT) like blockchain, which is an immutable, secure and transparent database.

Binance Smart Chain (BSC) is a blockchain platform that has attracted a lot of attention lately due to its potential for developers to build decentralized applications and offer a variety of use cases. BSC is a high-performance blockchain that allows developers to create smart contracts using Solidity, the same programming language used by Ethereum. In this article, we will explore the benefits of app development on Binance Smart Chain.

Folks.Finance: Introducing a New DeFi Platform

DeFi (Decentralized Finance) is one of the most popular financial concepts of recent years. DeFi is a system where there is no central authority and users come together to carry out financial transactions. In this system, users can take out loans, invest, lend or exchange using smart contracts. DeFi platforms attract attention by being extremely fast and secure.