Home/ Coindiskus/Answers
  1. Asked: March 1, 2023

    What is the djed token? Simplest explanation

    Coindiskus Enlightened

    Hey Cardacians, have you heard of Djed? It’s the first stablecoin on Cardano, and it’s not your typical fiat-backed token. Djed is an algorithmic stablecoin that adjusts its supply according to market demand, keeping its price close to $1 USD. But that’s not all. Djed also has some unique features tRead more

    Hey Cardacians, have you heard of Djed?

    It’s the first stablecoin on Cardano, and it’s not your typical fiat-backed token. Djed is an algorithmic stablecoin that adjusts its supply according to market demand, keeping its price close to $1 USD. But that’s not all. Djed also has some unique features that make it stand out from other stablecoins:

    Djed can be pegged to any currency, as long as there is an oracle providing the price index. So you can have Djed-EUR, Djed-JPY, Djed-GBP, etc.
    Djed has a reserve of ADA that acts as collateral for the stablecoin. The reserve ratio determines how much ADA is backing each Djed token. The higher the ratio, the more secure and stable the system is.
    Djed has a governance token called DUSD that allows holders to vote on protocol parameters such as target price, reserve ratio, interest rate, etc2. DUSD holders also receive rewards from fees generated by the system.
    Djed is named after an ancient Egyptian symbol that represented stability and prosperit2. It also symbolized Osiris, the god of rebirth and renewal. Pretty cool, huh?
    I think Djed is a game-changer for stablecoins and Cardano.

    What do you think?

    Let me know in the comments!

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  2. Asked: March 1, 2023

    What is the Shanghai upgrade? Explain like I was five.

    Coindiskus Enlightened

    Hey fellow ethereans, Are you one of those brave souls who staked your precious ETH for the greater good of Ethereum 2.0? Are you tired of waiting for years to get your rewards and funds back? Are you feeling left out of the DeFi craze and NFT mania? Well, fear not, because the Shanghai Upgrade is cRead more

    Hey fellow ethereans,

    Are you one of those brave souls who staked your precious ETH for the greater good of Ethereum 2.0? Are you tired of waiting for years to get your rewards and funds back? Are you feeling left out of the DeFi craze and NFT mania?

    Well, fear not, because the Shanghai Upgrade is coming to save you!

    The Shanghai Upgrade is the next major upgrade after The Merge, which will switch Ethereum from proof-of-work to proof-of-stake. The Merge already happened, and the Shanghai Upgrade is around the corner.

    The main feature of the Shanghai Upgrade is the implementation of EIP-48954, which will allow validators to withdraw their staked ETH and rewards from their validator balance. This means that you can finally access your locked-up ETH and do whatever you want with it.

    You can sell it, hodl it, lend it, borrow it, stake it again (why not?), or use it to buy some cool NFTs or DeFi tokens. The choice is yours!

    The Shanghai Upgrade will also make the network more scalable, consistent, and upgradeable. It will reduce gas fees for key network participants like miners and full nodes by introducing a new fee structure called EIP-36516. It will also improve security and performance by fixing some bugs and optimizing some protocols.

    So how do you prepare for the Shanghai Upgrade?

    Well, if you are already a validator, you don’t have to do much. Just keep running your node and wait for the upgrade to happen. You will receive a notification when you can withdraw your ETH.

    If you are not a validator yet but want to become one before the upgrade, you still have time. You need at least 32 ETH to stake on Ethereum 2.0. You can either buy them on an exchange or earn them by mining or trading.

    You also need a computer with internet connection and some technical skills to run a node.

    But be warned: staking is not risk-free. You can lose your ETH if you go offline or act maliciously. You also have to pay attention to tax implications and regulatory issues in your jurisdiction.

    Let me know what you think about this post in the comments below.

    This is me signing off! 😎

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  3. Asked: March 1, 2023

    I asked chatGPT what it thinks about shibarium. Here is the response.

    Coindiskus Enlightened
    This answer was edited.

    Hey fellow shibes, I'm super excited about the upcoming launch of Shibarium, our very own layer-2 blockchain network that will take SHIB to the moon! Shibarium will make SHIB faster, cheaper and more scalable than ever before. No more waiting for hours or paying high gas fees to send or receive ourRead more

    Hey fellow shibes,

    I’m super excited about the upcoming launch of Shibarium, our very own layer-2 blockchain network that will take SHIB to the moon!

    Shibarium will make SHIB faster, cheaper and more scalable than ever before. No more waiting for hours or paying high gas fees to send or receive our beloved coin. Plus, we’ll get rewarded with TREAT tokens just for staking our SHIB on Shibarium. How awesome is that?

    Shibarium is not just a shiny new toy for us shibes. It’s a game-changer that will make SHIB more competitive and attractive to investors, developers and users. It will also open up new possibilities for innovation and creativity within our ecosystem. Imagine all the cool dapps, games and NFTs that we can build on Shibarium!

    So let’s get ready for Shibarium, shibes. Let’s show the world what we can do with our community-driven project. Let’s make history together!

    Woof woof!

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  4. Asked: February 22, 2023

    Is doge co-related to Elon?

    Coindiskus Enlightened

    The price of Dogecoin (DOGE) has risen by 7% in the last 24 hrs (22nd Feb 2023), recouping losses that occurred since the start of today's trading session. The reason for the recent DOGE micro pump can be attributed to a confession from the current "commander in chief" of Twitter, Elon Musk. As is tRead more

    The price of Dogecoin (DOGE) has risen by 7% in the last 24 hrs (22nd Feb 2023), recouping losses that occurred since the start of today’s trading session. The reason for the recent DOGE micro pump can be attributed to a confession from the current “commander in chief” of Twitter, Elon Musk.

    As is typical of an eccentric billionaire, the confession was humorous and answered a question from the famous Baha Men song, “Who Let The Dogs Out.” A picture of the phrase “I let the dogs out” was enough to cheer up DOGE quotations, but that was not all.

     

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  5. Asked: February 15, 2023

    What does the Cardano valentine upgrade mean?

    Coindiskus Enlightened

    This new implementation will take the Cardano mainnet to version 8. Hence, SPOs and Cardano node users will need to upgrade their nodes to version 1.35.5, the latest version. The notice issued to the Cardano community clarified that versions below 1.35.4 will be incompatible with the upcoming mainneRead more

    This new implementation will take the Cardano mainnet to version 8. Hence, SPOs and Cardano node users will need to upgrade their nodes to version 1.35.5, the latest version. The notice issued to the Cardano community clarified that versions below 1.35.4 will be incompatible with the upcoming mainnet v8. Hence, they will not work on the mainnet after the network completes the upgrade.

    According to a publication by IOG, the SECP upgrade will add new functions to the Plutus cryptographic primitive on the Cardano network. This addition will further support the existing ECDSA and Schnorr signatures, making it easier for developers to build cross-chain applications on Cardano.

    The publication also states that currently, Cardano uses the Edwards-curve Digital Signature Algorithm (EdDSA) with the elliptic curve Curve25519 as its base curve (Ed25519). This combination enables the network to achieve fast signature verification processes and small signature sizes.

    It further explained that, though efficient, the current system exposes Cardano to security risks and potential loss of resources whenever developers want to work with other blockchains. The new built-in structure with the Valentine upgrade will allow developers to use a wider range of multi-signature or threshold signature designs native to Cardano. IOG believes this will provide the highest level of security for the network.

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  6. Asked: February 8, 2023

    What would need to happen for Shiba Inu to reach $0.001?

    Coindiskus Enlightened

    In order for Shiba Inu to deliver some form of repeat performance to 2021, three things would need to go its way. Arguably, the most important catalyst for SHIB is the expected launch of Shibarium, an internally developed layer-2 blockchain that's specifically designed to lower transaction costs. NoRead more

    In order for Shiba Inu to deliver some form of repeat performance to 2021, three things would need to go its way.
    Arguably, the most important catalyst for SHIB is the expected launch of Shibarium, an internally developed layer-2 blockchain that’s specifically designed to lower transaction costs. Not only would lower transaction costs make SHIB more appealing from a merchant standpoint, but it would, more importantly, fuel non-fungible token (NFT)-based gaming and NFT marketplace transactions. Shiba Inu’s metaverse ambitions are dependent on lowering transaction costs.
    Despite rumors that Shibarium would make its debut sometime during the first quarter, Shiba Inu’s developers have noted that no definitive timetable has been placed on a public beta launch.
    The second core catalyst that would be necessary to generate a nearly 7,800% return by 2024 is coin burn (and lots of it!). Coin burn is a lot like a stock-buyback program, but for cryptocurrencies.
    When a publicly traded company repurchases its own shares, it makes each remaining share that much more valuable. The same idea applies with coin burn. By sending tokens to dead (i.e., inaccessible) blockchain addresses, the remaining supply of tokens is reduced.
    Some time back, Ethereum founder Vitalik Buterin played a key role in fueling Shiba Inu’s run higher. After being gifted roughly half of SHIB’s 1 quadrillion token supply, Buterin sent more than 410 trillion tokens to a dead blockchain address. With a single click, Buterin reduced SHIB’s outstanding coin supply by 41%.
    Last but not least, Shiba Inu is going to need even more social media buzz than it had during its monumental run-up in 2021. According to Etherscan, there are 1.22 million individual wallets holding SHIB tokens, as of Sept. 12, 2022. To hit $0.001, this ultra-popular meme coin would need these folks out in full force to create buzz on social media.
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  7. Asked: December 8, 2022

    How to build a cryptocurrency community on telegram

    Coindiskus Enlightened

    Here are some steps you can follow to build a cryptocurrency community on Telegram: Create a group or channel on Telegram: To start building your community, you'll need to create a group or channel on Telegram where people can discuss and share information about cryptocurrencies. A group allows membRead more

    Here are some steps you can follow to build a cryptocurrency community on Telegram:

    1. Create a group or channel on Telegram: To start building your community, you’ll need to create a group or channel on Telegram where people can discuss and share information about cryptocurrencies. A group allows members to participate in discussions and share messages with each other, while a channel allows you to broadcast messages to a large number of subscribers without the ability for them to respond.
    2. Set clear rules and guidelines: It’s important to set clear rules and guidelines for the group or channel to ensure that discussions are productive and respectful. You can include things like a code of conduct, rules for posting, and guidelines for acceptable behavior in the group or channel.
    3. Encourage discussion and engagement: Encourage members of the group or channel to ask questions, share their thoughts and insights, and engage with each other. You can do this by posing questions, starting discussions, or sharing relevant articles and resources.
    4. Moderate the group or channel: As the group or channel grows, it’s important to have a moderator or team of moderators who can keep the group or channel organized and ensure that discussions stay on track. The moderators can also enforce the group’s or channel’s rules and guidelines and address any issues that may arise.
    5. Organize events and meetups: Consider organizing events and meetups for members of the group or channel to meet in person and discuss cryptocurrency-related topics. These events can be a great way to foster a sense of community and encourage engagement among group or channel members.

    Overall, building a cryptocurrency community on Telegram requires a combination of active engagement, moderation, and organization. By following these steps, you can create a thriving community of like-minded individuals who are interested in cryptocurrencies.

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  8. Asked: December 8, 2022

    How to build a cryptocurrency community on whatsApp

    Coindiskus Enlightened

    Here are some steps you can follow to build a cryptocurrency community on WhatsApp: Create a group on WhatsApp: To start building your community, you'll need to create a group on WhatsApp where people can discuss and share information about cryptocurrencies. You can invite people to join the group bRead more

    Here are some steps you can follow to build a cryptocurrency community on WhatsApp:

    1. Create a group on WhatsApp: To start building your community, you’ll need to create a group on WhatsApp where people can discuss and share information about cryptocurrencies. You can invite people to join the group by sharing the group’s invite link or by adding them to the group manually.
    2. Set clear rules and guidelines: It’s important to set clear rules and guidelines for the group to ensure that discussions are productive and respectful. You can include things like a code of conduct, rules for posting, and guidelines for acceptable behavior in the group.
    3. Encourage discussion and engagement: Encourage members of the group to ask questions, share their thoughts and insights, and engage with each other. You can do this by posing questions, starting discussions, or sharing relevant articles and resources.
    4. Moderate the group: As the group grows, it’s important to have a moderator or team of moderators who can keep the group organized and ensure that discussions stay on track. The moderators can also enforce the group’s rules and guidelines and address any issues that may arise.
    5. Organize events and meetups: Consider organizing events and meetups for members of the group to meet in person and discuss cryptocurrency-related topics. These events can be a great way to foster a sense of community and encourage engagement among group members.

    Overall, building a cryptocurrency community on WhatsApp requires a combination of active engagement, moderation, and organization. By following these steps, you can create a thriving community of like-minded individuals who are interested in cryptocurrencies.

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  9. Asked: January 4, 2023

    How does Solana Blockchain work?

    Coindiskus Enlightened

    Solana is a decentralized, open-source blockchain platform designed to support high transaction throughput and low transaction fees. It was created in 2017 by a team led by CEO Anatoly Yakovenko. Solana uses a novel consensus algorithm called "Proof of History" (PoH) to ensure the integrity of the bRead more

    Solana is a decentralized, open-source blockchain platform designed to support high transaction throughput and low transaction fees. It was created in 2017 by a team led by CEO Anatoly Yakovenko.

    Solana uses a novel consensus algorithm called “Proof of History” (PoH) to ensure the integrity of the blockchain. PoH is based on the idea of using verifiable delay functions (VDFs) to create a timeline of events that can be used to establish a consensus about the order in which transactions occurred.

    The Solana blockchain is composed of a network of nodes, which are computers that validate and record transactions on the blockchain. These nodes communicate with each other using the Solana protocol to reach consensus about the state of the blockchain.

    Solana also includes features such as smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Solana also has a decentralized exchange (DEX) built into the platform, which allows users to buy and sell cryptocurrencies and other assets directly on the blockchain.

    Overall, Solana is designed to be a fast, secure, and scalable blockchain platform that can support a wide range of applications and use cases.

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  10. Asked: January 4, 2023

    What are the best cryptocurrencies to invest in 2023?

    Coindiskus Enlightened

    It's difficult to predict which specific cryptocurrencies will be the best to invest in 2023. The cryptocurrency market is highly volatile and can be influenced by many factors, such as regulatory changes, market demand, and the strength of the underlying blockchain technology. That being said, someRead more

    It’s difficult to predict which specific cryptocurrencies will be the best to invest in 2023. The cryptocurrency market is highly volatile and can be influenced by many factors, such as regulatory changes, market demand, and the strength of the underlying blockchain technology.

    That being said, some cryptocurrencies have shown strong potential in the past and may continue to be strong performers in the future. These include:

    • Bitcoin: Bitcoin is the world’s first and most widely recognized cryptocurrency. It has a large and active user base, a strong track record of stability, and a limited supply, which could make it a good investment option.
    • Ethereum: Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It has a strong developer community and has the potential to be widely adopted in the future.
    • Litecoin: Litecoin is a cryptocurrency that is similar to Bitcoin but with faster transaction times and lower transaction fees. It has a large and active user base and has the potential to be widely adopted as a payment method.

    It’s important to remember that investing in cryptocurrencies carries a high level of risk and may not be suitable for everyone. It’s always a good idea to do your own research and consider consulting with a financial advisor before making any investment decisions.

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