Vektor’s premise is that Decentralized Finance should be more accessible to those who want to participate yet lack the technical skills to do so.
We are building a product to help these investors and institutions discover, assess, and execute transactions and trading strategies on DeFi, without having to navigate the complexities. All the data aggregation, transaction construction, smart contract handling, and execution overhead is handled by the product, while staying non-custodial.
Previous posters have done a good job to answer your question.
Just wanted to add that some people are looking replacing this 'Proof-of-Work/Mining' mechanism with a different method called 'Proof-of-Stake [0]. Other cryptocurrencies have already implemented this.
If you jump into the blockchain/bitcoin rabbit hole you will eventually come across this :)
There is another model called DPoS (D=delegated) where you use your coins to vote for block producers, who then use their keys to sign blocks. It's pretty cool, because then the miners' (in DPoS known as "witnesses") keys need not directly control any coins (just sign blocks with the transactions of others).
Too many companies worry they don't have enough use cases covered and can't forget "key" functionality, leaving them with a bloated and directionless product. Better to keep it simple and work up. Just nail the first use case enough for the innovators to adopt it.
They really screwed over iOS devs here. I have multiple cables as backups and in different bags etc - all need replacing now...except that I can't use the USB-C variant in the power brick :( I also do Android dev...need to get a USB-C to Micro-USB too just for that! Just one big mess.
As an aside, as a Monzo beta tester I can't say enough good things. Currently travelling around Asia and the card works almost everywhere and I pay 0 fees and get the exact Master Card rate. Twice now I've landed with 0 cash in the airport and been fine. I've used the card in over 10 countries outside UK with <1% issues, and often this is better than my Barclays or Amex.
This is just a small benefit but when you put the whole product/experience together from the app + in-app customer service + the card + etc, it just works so well and really comes into a category of it's own. A lot of people say "yeah buy my bank does X too" and while true, they way I look at this is Monzo is like the iPod - other MP3 players had same functionality but this one just works and works damn well.
Vektor’s premise is that Decentralized Finance should be more accessible to those who want to participate yet lack the technical skills to do so.
We are building a product to help these investors and institutions discover, assess, and execute transactions and trading strategies on DeFi, without having to navigate the complexities. All the data aggregation, transaction construction, smart contract handling, and execution overhead is handled by the product, while staying non-custodial.
Check out open roles at https://vektor.finance/careers