Compound: Cryptocurrency Interest Rates with Jared Flatow
Decentralized applications, termed “dApps,” are applications that feel like normal apps but are actually deployed (mostly) on the Ethereum blockchain. This means dApps can’t be taken down, can’t be censored or blocked, typically use Ethereum accounts as identity, and would only experience downtime if Ethereum itself went down. There are a lot of things you can do with blockchain applications, particularly with decentralized finance.
The company Compound develops protocols, built on the Ethereum blockchain, that establishes money markets. Money markets are pools of assets with algorithmically derived interest rates based on supply and demand. The Compound protocol represents assets as fungible ERC-20 token balances called cTokens. cTokens automatically increase in value from the amount of the initial underlying asset. The interest generated and managed through the Compound protocol can be used primarily for long-term investing in Ether and tokens as well as dApps and other entities. Compound provides lots of documents and discords for infusing interest and liquidity into dApps and related projects. This enables dApps to manage assets that generate interest and could lead to entirely new blockchain-based business models.
In this episode we talk with Jared Flatow, Director of Protocol at Compound. Previously, Jared worked as a software engineer at Caffeine and founded the company Quasi Convex Union. We discuss the importance of liquidity and interest-earning assets in DeFi, how Compound is helping enhance dApps and the role and growth of dApps overall, and his goals for Compound going forward.
Sponsorship inquiries: email@example.com
Transcript provided by We Edit Podcasts. Software Engineering Daily listeners can go to weeditpodcasts.com to get 15% off the first three months of audio editing and transcription services with code: SED. Thanks to We Edit Podcasts for partnering with SE Daily. Please click here to view this show’s transcript.
Powered by cutting-edge distributed tracing and a groundbreaking metrics database, and built by the team that launched observability at Google, Lightstep’s Change Intelligence provides actionable insights to help teams answer the question “What caused that change?” Try it today with a free 14-day trial at lightstep.com/sedaily, no credit card required.
Gremlin is taking a tip from all resilient engineers and presenting Failover Conf 2: Fail Smarter, an evolved virtual experience on April 27 with panel discussions, fireside chats, movie rooms, and pet slideshows, aiming to look and feel different than all the conferences you’ve sat down to watch over the last year. Go to gremlin.com/sedaily to register.
With Tonic, you can create a mimic of production data for your developers to use in their local or QA environments. Mathematically guarantee the privacy of your data and shorten your development cycle with realistic test data that integrates seamlessly into your development workflows. Visit tonic.ai/sedaily to learn more.
If you have several PostgreSQL or MySQL databases running behind NAT, check out Teleport, an open source identity-aware access proxy. Teleport provides secure access to anything running behind NAT, such as SSH servers or Kubernetes clusters and – new in this release! – database instances, including AWS RDS. Teleport gives MySQL and Postgres users superpowers. Teleport ensures best security practices like role-based access, preventing data exfiltration, providing visibility and ensuring compliance. Download Teleport at softwareengineeringdaily.com/teleport