Crypto Stories

What is Flash Loan: Explained

Published

9 months ago

December 1, 2022

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Want to become a millionaire for 15 seconds?

Many investors are probably not even aware of Flash Loan.

Investors receive millions of dollars in free loans through DeFi in order to seize instant opportunities.

But it’s not that simple.

Within 15 seconds, if they can’t complete their transactions and return the loan, they could lose everything.

So what is a flash loan?

Aave introduced the idea of flash loans in 2020.

Simply flash loan, Flash Loan, is a lending and borrowing system on the blockchain.

With a smart contract, all the borrowing and lending takes place within the same contract.

However, if the loan is not repaid within 15 seconds, the flash loan is canceled as if it never happened.

Crypto Stories

From 26 billion dollars to 100 thousand dollars

Published

8 months ago

December 9, 2022

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Sam Bankman-Fried, whose cryptocurrency empire collapsed, announced that he had only 100 thousand dollars left in his bank account.

Weeks ago, Sam Bankman-Fried, dubbed the new Warren Buffett in the mainstream media, saw his personal fortune soar to $26 billion.

After Alameda Reserach’s balance sheet was leaked in early November, SBF’s fortune fell from $15.6 billion to less than $1 billion in one day.

In an interview with Axios, Sam Bankman-Fried said he had no idea what was going on.

What do you think about this issue?

Crypto Stories

Someone tell Apple to leave Ethereum alone!

Published

8 months ago

December 9, 2022

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Apple, which confronted Fortnite and Elon Musk over its 30% commission on each purchase in the Apple Store, has now set its sights on decentralized structures.

According to Coinbase, Apple has moved to take a 30% commission on the gas fee paid for NFT transactions.

For this very reason, Apple has disabled the latest update of the Coinbase Wallet app.

And what about you,

How would you explain to Apple that because of the way NFTs and blockchains work, they can’t get commission on gas fees?

Crypto Stories

What if everyone knew how much money was in your bank account?

Published

8 months ago

December 9, 2022

admin

At Art Basel in Miami Beach, a Brooklyn art collective unveiled an ATM that allows people to share their bank account balances with everyone.

Developed by MSCHF, a company known for its viral products, the ATM lists the bank account balances of those who use it, in descending order from largest to smallest.

Diplo, an American DJ and music producer, posted a video on Twitter on Friday showing him in first place with $3 million.