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ETHLend is a fully decentralized financial marketplace built on top of the Ethereum Network allowing lenders and borrowers from all over the world to create peer to peer lending agreements in a secure and transparent way using Blockchain and Smart Contracts. ETHLend.io introduces decentralized lending on Ethereum network by using ERC-20 compatible tokens or Ethereum Name Service (ENS) domains as a collateral. ETHLend solves the problem on reducing the loss of loan capital on default. On healthy loan relationships the loan is paid back. However, the pseudo-anonymous nature of Ethereum blockchain network opens the possibility to avoid repayment of the loan since the lender might not have all the necessary details of the borrower to enforce the debt in the borrower’s jurisdiction. Moreover, enforcement in a decentralized environment, where the parties can be from any part of the world, might not be efficient. ETHLend provides decentralized solutions to avoid loss of capital and to make one true global lending market available.
Proof-of-Burn is a consensus algorithm that uses the burning of coins to create value. This guide will explore what Proof-of-Burn is, how it works, and its advantages over other consensus algorithms such as proof of work.
Crypto users and investors often become victims of rug pull scams, which causes them to lose heavily on their funds. Here’s a guide to know more about rug pull scams and how to avoid them.