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Maker Classic (MKRC) is the proprietary token for Maker, and it is backed by Ether rather than fiat currency. This is the basis of a advanced banking system built on blockchain technology that allows for simpler international payments and peer-to-peer transfers. DAI is a stablecoin designed along fractional reserve banking ideals and linked to the Maker (MKR) and Maker Classic (MKRC). Maker Classic has a total supply of 12,000,000 MKRC. MKRC is an ERC20 token on the Ethereum blockchain and can not be mined. MKRC will be used to pay transaction fees on the Maker system like MKR, and it collateralizes the system. Both tokens (MKR, MKRC, DAI) can be stored in any wallet that supports ERC20. […]
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