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Ethereum
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=== ''Uses'' === '''Investments & Institutional Usage''' In April 2021, European Investment Bank (EIB) announced its plans to offer a two-year digital bond on the Ethereum blockchain. After this update, Ethereum set yet another price record. But this piece of news was not the only reason behind the recently increasing investment into Ethereum. At the end of March 2021, payments giant Visa announced its first transactions settled with Visa in USD Coin (USDC) and transacted over the Ethereum blockchain. In 2021, a lot of firms announced their investments in Ethereum. To summarize what happened, after every piece of news about that came out, the Ethereum price increased. In 2022, the Ethereum Merge was finalized, marking a major milestone for the Ethereum blockchain. Ethereum was officially updated with its new Proof-of-Stake consensus mechanism, attracting many new ESG-minded investors. '''Decentralized Finance (Defi):''' Decentralized finance is a term used to refer to financial services and products that are available and accessible to anyone that can make use of Ethereum. No authority can deny access to anything for a user or block payments, and markets are always open with Defi. Anyone can inspect the codes, and there are no longer risks of human errors as the services are now automatic and governed by code. With traditional finance, some problems that exist include: * Denial of an individual from making use of financial services * Financial services can prevent an individual from getting paid. * Limitation of trading hours to specific time zones trading hours * Centralized institutions and governments can shut down the markets at will. * In the Defi system, the user holds and has total control over their own money, transfer of funds takes just a few minutes, it is open to anyone, and the market is always open. A user can also send money anywhere in the world, access stable currencies, borrow funds with or without collateral, trade tokes, buy insurance, and much more. '''Non-Fungible Tokens (NFTs):''' NFTs are tokens that can be attached to unique items, and they are not interchangeable for any other item. They allow value to be given to art, music, etc., in terms of digital currency. They are secured on the Ethereum blockchain and can have only one owner at a time. A new NFT cannot be copied and pasted into existence, and no two can be the same. They are compatible with anything that is built on the Ethereum platform. NFTs can be sold anywhere, and the owners have access to the global market. '''Decentralized autonomous organizations (DAOs):''' DAOs are owned and governed collectively by their members, and they function based on smart contracts. They are internet-based, and they have in-built treasuries that cannot be accessed without being granted permission by the group. They make decisions by proposals and voting to ensure that everyone in the group can air their opinions. There is no CEO or CFO, and the rules that govern their spending are part of the DAO code. The codes and all their activities are transparent, and they operate a democratic system. The votes which are tallied automatically are required before any change can be implemented. Examples of DAOs are charity organizations, ventures, freelancer networks, etc.
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