Manage episode 288903102 series 1435652
Cryptocurrencies like Bitcoin and Dogecoin are electronic currencies with a complete transaction history stored on a blockchain. A cryptocurrency blockchain is a linear record of all the transactions between users for a given currency. This record is public and distributed across thousands of computers, which makes falsifying a transaction nearly impossible because the hacker would need to alter over half of all copies. People use digital “contracts,” which is code that dictates the terms of the transaction and executes those terms, to perform trades. Understanding these technologies and how to use them used to be essential to trading and holding crypto.
The platform dYdX is lowering these barriers to entry for people who want to invest in cryptocurrencies. Rather than learning to buy and hold cryptocurrencies manually, dYdX provides a detailed but easy to understand user interface for investing in popular cryptocurrencies. They recently released what they call Layer 2 protocol, which significantly reduces the gas cost of trading and therefore the fees and minimum trade sizes. There is no wait required to withdraw your funds with Layer 2 and the entire process has the highest grade security.
Antonio Juliano is the founder of dYdX. Antonio has also founded Weipoint and worked as a software engineer at Uber and Coinbase for three years before launching dYdX in 2017. He joins us today to talk about the crypto community, their recent release of Layer 2 with dYdX, and the future of cryptocurrencies and blockchain.
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