This article was first published on: Latest Crypto News --
ETHLend has been creating Loan Standard along with ConsenSys since few months and announced about a published draft version for Loan Standard called ERC-1068.
The new ERC loan standard aims to have a flexible and robust backbone for loan applications, which are built on top of the Ethereum network. The standard is quite basic to cover different lending instruments such as peer-to-peer lending, crowdfunding, uncollateralised lending and secured lending.
This different from the common standards used at ETHLend. When a common standard is used, such as ERC-20 token standard, developers are able to create seamless ecosystem around the standard.
For ERC-1068 it means that there could be in the future different applications such as secondary markets for loans, credit rating systems and decentralized hedge funds.
- The standard allows the implementation of a standard A...
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