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What is it running on top of (Ethereum, its own blockchain)? Is it similar to MakerDAO?
by throwaway4good 6y ago
What is it running on top of (Ethereum, its own blockchain)? Is it similar to MakerDAO?
- tornato7 6y agoIf it's running on Ethereum then users will see $5-20 transaction fees and >20 second transaction times. That's not a great experience for first time users
- fbrusch 6y agoIt is now possible to use so called layer 2 (L2) solutions like zkrollups, considerably reducing fees and increasing throughput (https://vitalik.ca/general/2021/01/05/rollup.html https://vitalik.ca/general/2021/01/05/rollup.html). Loopring is already functioning on mainnet. (https://loopring.org https://loopring.org)
- isaacimagine 6y ago> Initially we are developing on the Ethereum Network but ultimately we expect two-way bridges to enable complete interoperability of the Reserve token across all major smart contract platforms.
- throwaway4good 6y agoThen it would be very similar to MakerDAO?
- krzkaczor 6y agoYes, in principle it looks very similar to MakerDAO but I think some details are different. For example DAI is pegged to one USD to make it as useful as possible but "The Reserve token will initially have a target value of $1.00, but is designed to go off of the peg from the US dollar in the long term.".
- max_ 6y agoIts on Ethereum (guessing from the metamask client). It's nothing fancy its like an SDR for cryptocurrencies[0] [0]:https://en.m.wikipedia.org/wiki/Special_drawing_rights https://en.m.wikipedia.org/wiki/Special_drawing_rights