Crypto Academy Week 4 Homework Post for @gbenga

Hello everyone welcome to another post of the steemit crypto academy home work task given by @gbenga were he explained everything that has to do with ethereum block chain so if you want to learn about his course you can visit here.

In this post I would be giving one example of a good project that launched in the ethereum block chain and I am going to be explaining it as well so the name of the project that launched on the ethereum blockchain.

Uniswap

uniswap which was launched in ethereum to fix the gas fee issue but it fees was still high that is why in the coming days there is going to be another update that may fix the fees in that case affect the ethereum price in a good way that is why i am still bullish.

It is not centralizd but decentralized cryptocurrency exchange platform which allow automatic exchange of tokens on the ethereum blockchain through the use of smart contracts, which means traders can exchange tokens without trusting anybody with their hard earn funds and anyone can borrow out their crypto to special reserves called liquidity pools. In exchange for providing money to these pools, they earn fees.

The uniswap idea was created by hyden adams in 2018, But the underlying technology that inspired its implementation was first made known by Ethereum co-founder, Vitalik Buterin.

It's market cap is at $8.1b now and it is at the number 13 in crypto market listing, it still has potential in the future so l am still bullish on that project.

How does Uniswap work?

It works with a structure called Constant Product Market Maker, which is a part of a model called Automated Market Maker.

How does uniswap make money?

obviously It doesn’t. Uniswap is a decentralized protocol that doesn’t have a native token. All fees go to liquidity providers, and none of the founders get a cut from the trades that happen through the protocol which is new.

Is uniswap a good investment
Uniswap is big on the ethereum blockchain and even in the cryptocurrency community it is little investment of time and funds that made uni swap the most famous decentralized exchange

Advantages of uniswap
There are reasons why traders want to use uniswap.

1). Easy access to your funds.

2). New coins can be accessed faster on uniswap.

Disadvantages of uniswap

1). High fees which i think is about to get an update but as for now it is still a disadvantage.

2). Unverified new project meaning you can easily be tricked because of a lot of coins launching and some of the might be fraud.

Uniswap is an exchange protocol built in the ethereum blockchain It allows anyone with an Ethereum wallet to exchange tokens without the involvement of any central party.

Conclusion

Thanks for reading and I hope I explained uniswap very well anyway i hope i explaned it very well Please @steemitblog and @gbenga, here is my task entry and thanks for reading.

Cc: @steemcurator01
Cc : @steemcurator02
Cc : @steemitblog
Cc : @gbenga