What is the purpose of modular currency (modular transactions)

08/06/2023 20:35 • AI & Tech Insights • 96 views

What is the purpose of module currency? In the Bitcoin blockchain, users can store digital assets in a block according to their needs. When there is a demand, payment can be made by generating a transaction pair, thereby reducing the expenses in the system. Modular wallets are implemented through smart contracts, which do not require any centralized third-party participation and are only controlled by nodes. Due to the powerful functionality of modular wallets, many people also refer to them as “Monroe”

At present, most Ethereum blockchain projects are generated by PoW mining. However, as more and more people begin to use blockchain technology, these developers will find that some POW based Cryptocurrency (such as EOS) are not as widely used as other Cryptocurrency. Those who want to use Bitcoin and the Ethereum ecosystem usually choose to use tokens like BTC, ETH or XRP

For users who want to purchase Ethereum, they may use modular products. Because the operation of these products may not be completely consistent with their design. On the contrary, if modular coins have scalability and can support different types of functions, they may meet various needs of users, including features such as disintermediation, flexibility, and security

Modular Trading

According to reports, according to data disclosed by blockchain analysis company Elliptic’s official social media, modular trading has been used to handle complex smart contracts.

It is reported that Ethereum is developing a new solution to simplify and expand trading strategies, optimize user experience, and solve the problem of composability by using the concept of “modularization”. Therefore, in the DeFi ecosystem, there are two most popular ways to achieve this goal: one is order book based markets (such as Aave and Compound), and the other is asset based DEX markets – L2swap and Curve.

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What is the purpose of modular currency (modular transactions)

Modular Trading

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