ETHLend. Decentralized lending. CRYPTOCURRENCY. ICO LIVE.
ETHLend is a 100% decentralized peer to peer lending platform, is a decentralized application (DAPP) developed upon the Ethereum Network and they believe they can reduce friction in the global lending market. ETHLend is a decentralized lending application that is running on the Ethereum blockchain network. ETHLend solves the issue of trust by allowing borrowers to pledge ERC-20 compatible tokens or ENS domains as a collateral. Once the borrowers has gained reputation, they can loan without the need of a collateral by the use of Credit Tokens (CRE). The essence of lending and borrowing tends to shape the world into a place of dominance over each by structures and restraints. Ethlend makes the act of lending and borrowing easy and accessible to each user flexible, transparent and reliable. Thus, this reliability and essence has created the trust been placed on the Ethereum network through which Ethlend operates. This is vastly the method and structure lending and borrowing is suspended and re-invented for users on the Ethlend platform.
ETHLend is an absolutely decentralized and secure credit platform, working on the principle of blocking. To put it in simple terms, the block system is a completely closed system and no one from the outside can copy or forge data inside this system. Because copies of data are provided to all network members and if someone unauthorizedly attempts to manipulate this data, the system will notice and change absolutely all the mathematical codes of all copies. That is, any transactions are fully protected.
This format of work for the first time in history allows you to get a fair interest on the loan, because decentralization leads to competition among lenders, and this, in turn, leads to equalization and lower interest rates around the world. Participants in the lending process on the ETHLend platform use the Ethereum-based crypto currency Ether, which means that absolutely no one can manipulate the data on the lending application, including the Ethereum system itself-in fact, the dialogue goes directly between the borrower and the lender, without intermediaries. All you need is Internet access and the ETHLend platform.
All loans through the block are secured. How? To do this, there are so-called ERC-20 tokens. They act as a loan collateral and can have any value, for example, you can evaluate the property in tokens and mortgage these tokens for a loan to ETHLend. Just think about it — the system is so reliable that at present the global cost of ERC-20 tokens is estimated at billions of US dollars and continues to grow at a tremendous rate.
Thus, the rapid spread of crypto currency and tokens allows more and more people to take advantage of credit through the block. The international project ETHLend seeks to make the possibility of lending as democratic and affordable as possible. Banks will no longer put you their terms for absurdly high interest only because they are not satisfied with your official salary and you will become absolutely free from humiliating bank checks and procedures. Plus you will never again be dependent on your credit history. The transnational ETHLend team can give you full access to the world’s capital, which means that it is not difficult to get a loan or a micro loan with the lowest possible interest rate.