Wemade Launches Kurrency, a Defi Service for More Usable and Reliable Cryptocurrency Transactions
According to reports, South Korean game giant Wemade announced the launch of a new Defi service, Kurrency, aimed at providing higher usability, transparency an…
According to reports, South Korean game giant Wemade announced the launch of a new Defi service, Kurrency, aimed at providing higher usability, transparency and reliability. Kurrency is a service that issues cryptocurrency through mortgage debt position. Users can entrust the virtual assets supported by the service as collateral to issue WCD (WEMIX encrypted USD).
Wemade launches new Defi service Kurrency
Analysis based on this information:
Korean gaming firm, Wemade, has recently unveiled its latest venture, Kurrency, a Defi service that aims to increase the usability and reliability of cryptocurrency transactions. With the growing interest and use of digital currencies, the demand for secure and transparent platforms that can support such transactions has also increased. It is in response to such a need that Wemade has launched Kurrency.
The use of mortgage debt position as the basis for issuance of cryptocurrency in Kurrency is a significant aspect of the new service. Mortgage debt position refers to the position of the creditor towards the debtor who has used their property as collateral to secure a loan. With this system, users of Kurrency can pledge their virtual assets as collateral to issue WCD, a WEMIX encrypted USD.
The advent of Kurrency is expected to bring about several advantages for users of cryptocurrency, one of which is a greater level of trust and security in the transactions involved. The use of virtual assets as collateral helps to minimize the risk for all parties involved as it is a form of security for the lender, and a guarantee for the borrower. Additionally, Wemade’s reputation as a leading South Korean gaming giant is expected to provide a level of reliability for users.
The launch of Kurrency can also be seen as a timely solution to recent concerns about the environmental impact of cryptocurrency mining. Wemade has stated that Kurrency will be built on the WEMIX platform, which operates on a Proof of Participation (PoP) consensus algorithm that is more energy-efficient than traditional Proof of Work (PoW) algorithms. This will reduce the amount of energy required to carry out cryptocurrency transactions, further enhancing its usability and minimizing its environmental impact.
In conclusion, the launch of Kurrency is an exciting development in the realm of Defi services. It is designed to provide a more secure and reliable platform for the issuing and use of cryptocurrency, while ensuring that it remains environmentally sustainable. The use of mortgage debt position and virtual assets as collateral are key features of the service that are expected to increase trust and security for users.
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