When interest rates change , there are real-world effects on the ways that consumers and businesses can access credit to make necessary purchases and plan their finances. Here are some reasons for change in interest rates:- Central banks cut interest rates when the economy slows down in order to re-invigorate economic activity and growth. The goal is to reduce the cost of borrowing so that people and companies are more willing to invest and spend. Interest rate changes spill over to many facets of the economy, including mortgage rates and home sales, consumer credit and consumption, and stock market movements. Impact of a Fed Interest Rate Change: Savings: In theory, that should boost savings among consumers and businesses as they can generate a higher return on their savings. On the other hand, the effect may be that anyone with a debt burden would instead seek to pay off their financial obligations to offset the higher variable rates tied to credit cards, home loans, or other debt i
Solidity is an object-oriented, high-level language for implementing smart contracts. Smart contracts are programs which govern the behaviour of accounts within the Ethereum state. Solidity was influenced by C++, Python and JavaScript and is designed to target the Ethereum Virtual Machine (EVM). Solidity is statically typed, supports inheritance, libraries and complex user-defined types among other features. With Solidity you can create contracts for uses such as voting, crowdfunding, blind auctions, and multi-signature wallets. When deploying contracts, you should use the latest released version of Solidity. This is because breaking changes as well as new features and bug fixes are introduced regularly. We currently use a 0.x version number to indicate this fast pace of change. If you are new to the concept of smart contracts we recommend you start with an exampl