Crypto 101
Master the Basics, Explore the Landscape, and Unleash the Potential of Digital Currencies
What is a Blockchain?
A blockchain is a decentralized and distributed digital ledger that securely records transactions across a network of computers. It employs cryptography to ensure data integrity, providing transparency and immutability for all transactions within the system.
What is Bitcoin?
Bitcoin, the world’s first cryptocurrency, has transformed our understanding of money and the global financial landscape…it facilitates peer-to-peer transactions over the internet without requiring a central authority like a bank or government.
What is cryptocurrency?
A cryptocurrency is a digital or virtual form of currency that utilizes cryptography for security and operates on a decentralized network, such as a blockchain. It enables peer-to-peer transactions without the need for a central authority, offering increased privacy, security, and autonomy in financial transactions.
What is Ethereum?
Ethereum is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps). Launched in 2015, it extends the capabilities of blockchain technology beyond just digital currencies, fostering innovation in fields such as decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
What are NFTs?
An NFT, or Non-Fungible Token, is a unique digital asset representing ownership of items such as digital art and collectibles. Unlike cryptocurrencies, NFTs are not interchangeable due to their distinct properties. They have gained popularity by providing creators with new monetization opportunities and collectors with digital ownership rights.
What are Altcoins?
An altcoin, a blend of “alternative” and “coin,” is any cryptocurrency besides Bitcoin, showcasing diverse technologies, consensus mechanisms, and use cases. Examples include Ethereum, enabling smart contracts and decentralized applications, and OMI, the native token of VeVe NFT platform for trading licensed digital collectibles.
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonymous creator of Bitcoin, the world’s first decentralized digital currency that revolutionized the concept of money. Despite numerous investigations and speculations, the true identity of this enigmatic figure remains unknown, allowing Bitcoin to develop independently without being tied to a specific individual or group.