LIVEBoltonfx
@Boltonfx
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120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
DEX and CEX explained.
019. DEX Vs CEX:
These are types of cryptocurrency exchanges that differ in their structure, operation, and benefits.
DEX (Decentralized Exchange): E.g. Uniswap, Sushiswap etc
Merits are:
1. Decentralized and autonomous: Operates on a blockchain, allowing for peer-to-peer transactions without intermediaries.
2. User control: Users have full control over their funds and data, reducing the risk of theft or manipulation.
3. Privacy: Transactions are often more private, as users don't need to provide personal information.
4. Security: Decentralized architecture can make it more difficult for hackers to target a single point of failure.
5. Censorship-resistant: Transactions can't be blocked or censored by a central authority.
Demerits are:
1. Complexity: Can be more difficult to use, especially for beginners.
2. Limited assets: Typically only supports trading of cryptocurrencies.
3. Liquidity: May have lower liquidity compared to CEX.
4. Scalability: Can be slower and more expensive due to blockchain congestion.
CEX (Centralized Exchange): E.g. Coinbase, Binance etc
Merits are:
1. User-friendly: Often more accessible and easier to use, with a familiar interface.
2. Fiat support: Allows users to deposit and withdraw fiat currencies (e.g., USD).
3. Asset variety: Supports trading of various assets, including cryptocurrencies, tokens, and sometimes even traditional assets like stocks.
4. Liquidity: Typically has higher liquidity, making it easier to buy and sell assets.
5. Customer support: Offers dedicated customer support and dispute resolution.
Demerits are:
1. Centralized control: Users must trust the exchange with their funds and data.
2. Security risks: Centralized exchanges are more vulnerable to hacking and theft.
3. Regulatory risks: Exchanges must comply with regulations, which can lead to censorship or restrictions.
4. Fees: Often charges higher fees compared to DEX.
5. Counterparty risk: Users rely on the exchange to facilitate transactions.
When choosing between DEX and CEX, consider your priorities:
- If you value decentralization, security, and control, DEX might be the better choice.
- If you prefer a more user-friendly experience, access to fiat, and a wider range of assets, CEX might be the better option.
$BTC $SOL $ETH
Keep in mind that the landscape is constantly evolving, and some exchanges are exploring hybrid models that combine elements of both DEX and CEX.#Write2Earn! #BinanceTurns7 #MtGoxJulyRepayments #BTC☀ #MarketDownturn
These are types of cryptocurrency exchanges that differ in their structure, operation, and benefits.
DEX (Decentralized Exchange): E.g. Uniswap, Sushiswap etc
Merits are:
1. Decentralized and autonomous: Operates on a blockchain, allowing for peer-to-peer transactions without intermediaries.
2. User control: Users have full control over their funds and data, reducing the risk of theft or manipulation.
3. Privacy: Transactions are often more private, as users don't need to provide personal information.
4. Security: Decentralized architecture can make it more difficult for hackers to target a single point of failure.
5. Censorship-resistant: Transactions can't be blocked or censored by a central authority.
Demerits are:
1. Complexity: Can be more difficult to use, especially for beginners.
2. Limited assets: Typically only supports trading of cryptocurrencies.
3. Liquidity: May have lower liquidity compared to CEX.
4. Scalability: Can be slower and more expensive due to blockchain congestion.
CEX (Centralized Exchange): E.g. Coinbase, Binance etc
Merits are:
1. User-friendly: Often more accessible and easier to use, with a familiar interface.
2. Fiat support: Allows users to deposit and withdraw fiat currencies (e.g., USD).
3. Asset variety: Supports trading of various assets, including cryptocurrencies, tokens, and sometimes even traditional assets like stocks.
4. Liquidity: Typically has higher liquidity, making it easier to buy and sell assets.
5. Customer support: Offers dedicated customer support and dispute resolution.
Demerits are:
1. Centralized control: Users must trust the exchange with their funds and data.
2. Security risks: Centralized exchanges are more vulnerable to hacking and theft.
3. Regulatory risks: Exchanges must comply with regulations, which can lead to censorship or restrictions.
4. Fees: Often charges higher fees compared to DEX.
5. Counterparty risk: Users rely on the exchange to facilitate transactions.
When choosing between DEX and CEX, consider your priorities:
- If you value decentralization, security, and control, DEX might be the better choice.
- If you prefer a more user-friendly experience, access to fiat, and a wider range of assets, CEX might be the better option.
$BTC $SOL $ETH
Keep in mind that the landscape is constantly evolving, and some exchanges are exploring hybrid models that combine elements of both DEX and CEX.#Write2Earn! #BinanceTurns7 #MtGoxJulyRepayments #BTC☀ #MarketDownturn
ترجمة
Decentralization Vs Centralization
018. Decentralization Vs Centralization:
Refers to the distribution of power, control, and decision-making among multiple nodes or participants in a network, rather than relying on a single central authority. This concept is fundamental to blockchain technology and cryptocurrencies.
Key aspects of decentralization in crypto include;
1. Network architecture: A decentralized network consists of multiple nodes, each with equal authority.
2. Consensus mechanisms: Nodes use consensus algorithms (e.g., PoW, PoS) to agree on the state of the network.
3. Open-source code: Decentralized projects often have open-source code, allowing anyone to review and contribute.
4. Decentralized governance: Decision-making is distributed among network participants, often through voting mechanisms.
5. Resilience: Decentralized networks are more resistant to censorship, single-point failures, and attacks.
Benefits of decentralization:
1. Security: Increased security through distributed consensus.
2. Censorship resistance: Resistance to censorship and control.
3. Immutability: Immutable ledger ensures data integrity.
4. Transparency: Open-source code and transparent decision-making.
5. Community-driven: Decentralized governance empowers the community.
Examples of decentralized crypto projects: Decentralized digital currency (for $BTC ), Decentralized smart contract platform (for $ETH ), Decentralized interoperability protocol (for $DOT ), Decentralized lending, borrowing, and trading platforms.
******Whereas******
Centralization refers to the concentration of power, control, and decision-making authority in a single entity, organization, or location. In the context of technology and networks, centralization means that a single central authority:
1. Controls the flow of information
2. Manages the network infrastructure
3. Makes decisions on behalf of the network
4. Store data in a single location
Characteristics of centralization:
1. Single point of control
2. Hierarchical structure
3. Dependence on a central authority
4. Vulnerability to single-point failures
5. Potential for censorship and control
Examples of centralization: Traditional banking systems, government institutions, corporate network, Social media platforms (e.g., Facebook, X), Cloud storage services (e.g., Google Drive, Dropbox)
Centralization has both advantages (e.g., efficiency, scalability) and disadvantages (e.g., vulnerability to attacks, censorship). In contrast, decentralization distributes power and control, promoting resilience, security, and community involvement.
In the context of blockchain and cryptocurrencies, centralization is often seen as a negative trait, as it can lead to: Censorship, control by a single entity, vulnerability to attacks, lack of transparency. #Write2Earn! #BinanceTurns7 #MarketDownturn #BTC #XRP
Refers to the distribution of power, control, and decision-making among multiple nodes or participants in a network, rather than relying on a single central authority. This concept is fundamental to blockchain technology and cryptocurrencies.
Key aspects of decentralization in crypto include;
1. Network architecture: A decentralized network consists of multiple nodes, each with equal authority.
2. Consensus mechanisms: Nodes use consensus algorithms (e.g., PoW, PoS) to agree on the state of the network.
3. Open-source code: Decentralized projects often have open-source code, allowing anyone to review and contribute.
4. Decentralized governance: Decision-making is distributed among network participants, often through voting mechanisms.
5. Resilience: Decentralized networks are more resistant to censorship, single-point failures, and attacks.
Benefits of decentralization:
1. Security: Increased security through distributed consensus.
2. Censorship resistance: Resistance to censorship and control.
3. Immutability: Immutable ledger ensures data integrity.
4. Transparency: Open-source code and transparent decision-making.
5. Community-driven: Decentralized governance empowers the community.
Examples of decentralized crypto projects: Decentralized digital currency (for $BTC ), Decentralized smart contract platform (for $ETH ), Decentralized interoperability protocol (for $DOT ), Decentralized lending, borrowing, and trading platforms.
******Whereas******
Centralization refers to the concentration of power, control, and decision-making authority in a single entity, organization, or location. In the context of technology and networks, centralization means that a single central authority:
1. Controls the flow of information
2. Manages the network infrastructure
3. Makes decisions on behalf of the network
4. Store data in a single location
Characteristics of centralization:
1. Single point of control
2. Hierarchical structure
3. Dependence on a central authority
4. Vulnerability to single-point failures
5. Potential for censorship and control
Examples of centralization: Traditional banking systems, government institutions, corporate network, Social media platforms (e.g., Facebook, X), Cloud storage services (e.g., Google Drive, Dropbox)
Centralization has both advantages (e.g., efficiency, scalability) and disadvantages (e.g., vulnerability to attacks, censorship). In contrast, decentralization distributes power and control, promoting resilience, security, and community involvement.
In the context of blockchain and cryptocurrencies, centralization is often seen as a negative trait, as it can lead to: Censorship, control by a single entity, vulnerability to attacks, lack of transparency. #Write2Earn! #BinanceTurns7 #MarketDownturn #BTC #XRP
ترجمة
017. Smart contracts:
Is a self-executing program that automates the enforcement and execution of a specific agreement or set of rules, using blockchain technology. It allows for the creation of decentralized, trustless, and transparent agreements, without the need for intermediaries; they have the following characteristics:
1. Autonomous: i.e. Self-executing and automated.
2. Decentralized: Stored and replicated on a blockchain.
3. Immutable: Cannot be altered or deleted.
4. Transparent: All transactions and rules are publicly visible.
5. Programmable: Can be customized to fit specific needs.
Smart contracts can be applied in several aspects beyond cryptography:
1. Supply chain management
2. Digital identity
3. Voting systems
4. Insurance
5. Financial derivatives
6. Digital assets
7. Gaming
Smart contracts have the following merits:
1. Increased efficiency
2. Reduced costs
3. Improved security
4. Enhanced transparency
5. Automated enforcement
Smart contracts typically use programming languages like Solidity (for Ethereum) or Chaincode (for Hyperledger Fabric) to create and deploy the contracts on a blockchain network.
#BinanceTurns7 #Write2Earn! #BTC #BinanceTournament #Megadrop $BNB $ETH $SOL
Is a self-executing program that automates the enforcement and execution of a specific agreement or set of rules, using blockchain technology. It allows for the creation of decentralized, trustless, and transparent agreements, without the need for intermediaries; they have the following characteristics:
1. Autonomous: i.e. Self-executing and automated.
2. Decentralized: Stored and replicated on a blockchain.
3. Immutable: Cannot be altered or deleted.
4. Transparent: All transactions and rules are publicly visible.
5. Programmable: Can be customized to fit specific needs.
Smart contracts can be applied in several aspects beyond cryptography:
1. Supply chain management
2. Digital identity
3. Voting systems
4. Insurance
5. Financial derivatives
6. Digital assets
7. Gaming
Smart contracts have the following merits:
1. Increased efficiency
2. Reduced costs
3. Improved security
4. Enhanced transparency
5. Automated enforcement
Smart contracts typically use programming languages like Solidity (for Ethereum) or Chaincode (for Hyperledger Fabric) to create and deploy the contracts on a blockchain network.
#BinanceTurns7 #Write2Earn! #BTC #BinanceTournament #Megadrop $BNB $ETH $SOL
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
016. A consensus algorithm:
Is a protocol used to achieve consensus among nodes in a blockchain network. It ensures that all nodes agree on the state of the blockchain, including transactions and blocks. Common consensus algorithms include;
1. Proof of Work (PoW): Nodes compete to solve a mathematical puzzle, requiring significant computational power.
2. Proof of Stake (PoS): Nodes are chosen to validate transactions based on their stake (holdings) in the network.
3. Delegated Proof of Stake (DPoS): Nodes vote for validators, who create new blocks.
4. Byzantine Fault Tolerance (BFT): Nodes agree on the state of the blockchain through a voting process.
5. Leader-Based: A leader node is chosen to create new blocks and manage the network.
6. Federated Consensus: A group of trusted nodes (federators) manage the network and create new blocks.
7. Directed Acyclic Graph (DAG): A consensus algorithm used in some blockchain networks, like $IOTA .
Consensus algorithm characteristics:
1. Security: Resistance to attacks and network manipulation.
2. Scalability: Ability to handle increasing network traffic and transactions.
3. Energy efficiency: Minimizing energy consumption and environmental impact.
4. Decentralization: Maintaining a decentralized network with no single point of control.
5. Fault tolerance: Ability to function even if some nodes fail or behave maliciously.
Thus consensus algorithms are the backbone of blockchain technology, enabling nodes to agree on the state of the network and ensuring the integrity, security, and decentralization of the blockchain. $BTC $ETH
#BinanceTurns7 #Write2Earn! #ETH_ETFs_Approval_Predictions #SOFR_Spike #MarketDownturn
Is a protocol used to achieve consensus among nodes in a blockchain network. It ensures that all nodes agree on the state of the blockchain, including transactions and blocks. Common consensus algorithms include;
1. Proof of Work (PoW): Nodes compete to solve a mathematical puzzle, requiring significant computational power.
2. Proof of Stake (PoS): Nodes are chosen to validate transactions based on their stake (holdings) in the network.
3. Delegated Proof of Stake (DPoS): Nodes vote for validators, who create new blocks.
4. Byzantine Fault Tolerance (BFT): Nodes agree on the state of the blockchain through a voting process.
5. Leader-Based: A leader node is chosen to create new blocks and manage the network.
6. Federated Consensus: A group of trusted nodes (federators) manage the network and create new blocks.
7. Directed Acyclic Graph (DAG): A consensus algorithm used in some blockchain networks, like $IOTA .
Consensus algorithm characteristics:
1. Security: Resistance to attacks and network manipulation.
2. Scalability: Ability to handle increasing network traffic and transactions.
3. Energy efficiency: Minimizing energy consumption and environmental impact.
4. Decentralization: Maintaining a decentralized network with no single point of control.
5. Fault tolerance: Ability to function even if some nodes fail or behave maliciously.
Thus consensus algorithms are the backbone of blockchain technology, enabling nodes to agree on the state of the network and ensuring the integrity, security, and decentralization of the blockchain. $BTC $ETH
#BinanceTurns7 #Write2Earn! #ETH_ETFs_Approval_Predictions #SOFR_Spike #MarketDownturn
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
015. A validator:
Is a node or entity that verifies transactions and creates new blocks on a blockchain network. Validators play a crucial role in maintaining the integrity and security of the network.
Responsibilities of a validator:
1. Transaction verification: Ensure transactions are valid, follow network rules, and have sufficient funds.
2. Block creation: Create new blocks and add them to the blockchain.
3. Consensus participation: Participate in the consensus mechanism to agree on the state of the blockchain.
4. Network security: Help prevent attacks, such as 51% attacks, by validating transactions and creating blocks.
Types of validators:
1. Proof-of-Work (PoW) validators: Use computational power to solve complex mathematical puzzles (e.g., Bitcoin).
2. Proof-of-Stake (PoS) validators: Use their own cryptocurrency holdings as collateral to validate transactions (e.g., Ethereum).
3. Delegated Proof-of-Stake (DPoS) validators: Chosen by holders of a particular cryptocurrency to validate transactions (e.g., EOS).
Validators are incentivized to perform their duties honestly through:
1. Block rewards: Receive newly minted cryptocurrencies for creating new blocks.
2. Transaction fees: Earn fees for verifying transactions.
3. Staking rewards: Receive rewards for participating in PoS or DPoS consensus mechanisms.
By validating transactions and creating new blocks, validators help maintain the decentralized, secure, and trustworthy nature of blockchain networks.
$BTC $ETH $XRP
#BinanceTurns7 #Write2Earn! #SOFR_Spike #BTC #Bullish
Amidst the dipping, appreciate the opportunity to buy buy buy more assets. Hit the Follow button.
Is a node or entity that verifies transactions and creates new blocks on a blockchain network. Validators play a crucial role in maintaining the integrity and security of the network.
Responsibilities of a validator:
1. Transaction verification: Ensure transactions are valid, follow network rules, and have sufficient funds.
2. Block creation: Create new blocks and add them to the blockchain.
3. Consensus participation: Participate in the consensus mechanism to agree on the state of the blockchain.
4. Network security: Help prevent attacks, such as 51% attacks, by validating transactions and creating blocks.
Types of validators:
1. Proof-of-Work (PoW) validators: Use computational power to solve complex mathematical puzzles (e.g., Bitcoin).
2. Proof-of-Stake (PoS) validators: Use their own cryptocurrency holdings as collateral to validate transactions (e.g., Ethereum).
3. Delegated Proof-of-Stake (DPoS) validators: Chosen by holders of a particular cryptocurrency to validate transactions (e.g., EOS).
Validators are incentivized to perform their duties honestly through:
1. Block rewards: Receive newly minted cryptocurrencies for creating new blocks.
2. Transaction fees: Earn fees for verifying transactions.
3. Staking rewards: Receive rewards for participating in PoS or DPoS consensus mechanisms.
By validating transactions and creating new blocks, validators help maintain the decentralized, secure, and trustworthy nature of blockchain networks.
$BTC $ETH $XRP
#BinanceTurns7 #Write2Earn! #SOFR_Spike #BTC #Bullish
Amidst the dipping, appreciate the opportunity to buy buy buy more assets. Hit the Follow button.
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
014. Node:
Refers to a computer or device that connects to a blockchain network and participates in the validation and relay of transactions. Nodes play a crucial role in maintaining the integrity and decentralization of the network.
Types of nodes:
1. Full node: Stores a full copy of the blockchain and verifies all transactions.
2. Light node: Stores only a partial copy of the blockchain and relies on full nodes for verification.
3. Mining node: Participates in the validation process through mining (proof-of-work) or staking (proof-of-stake).
4. Validator node: Responsible for verifying transactions and creating new blocks.
5. Relay node: Forwards transactions and blocks to other nodes on the network.
What do nodes do?
1. Transaction verification: Ensures transactions are valid and follow network rules.
2. Block creation: Creates new blocks and adds them to the blockchain.
3. Network communication: Relays transactions and blocks to other nodes.
4. Blockchain storage: Stores a copy of the blockchain (full or partial).
Essentials of Nodes:
1. Decentralization: Ensures the network is not controlled by a single entity.
2. Security: Participates in the validation process to prevent attacks.
3. Scalability: Allows the network to process more transactions and grow.
How to run a node:
-Choose a blockchain: Select a blockchain project (e.g., $BTC , $ETH ,$BNB ).
-Meet hardware requirements: Ensure your computer meets the necessary specs (CPU, RAM, storage).
-Download software: Get the relevant node software (e.g., Bitcoin Core, Geth).
-Sync the blockchain: Download and verify the entire blockchain (may take days).
-Configure settings: Set up node settings (e.g., port, network).
-Connect to network: Connect your node to the blockchain network.
-Verify transactions: Participate in transaction verification (if applicable).
-Maintain node: Regularly update software and ensure node stability.
Running a node can be rewarding, but it also requires significant resources such as computing power, storage, and bandwidth.
#Write2Earn! #BinanceTurns7 #SOFR_Spike
Refers to a computer or device that connects to a blockchain network and participates in the validation and relay of transactions. Nodes play a crucial role in maintaining the integrity and decentralization of the network.
Types of nodes:
1. Full node: Stores a full copy of the blockchain and verifies all transactions.
2. Light node: Stores only a partial copy of the blockchain and relies on full nodes for verification.
3. Mining node: Participates in the validation process through mining (proof-of-work) or staking (proof-of-stake).
4. Validator node: Responsible for verifying transactions and creating new blocks.
5. Relay node: Forwards transactions and blocks to other nodes on the network.
What do nodes do?
1. Transaction verification: Ensures transactions are valid and follow network rules.
2. Block creation: Creates new blocks and adds them to the blockchain.
3. Network communication: Relays transactions and blocks to other nodes.
4. Blockchain storage: Stores a copy of the blockchain (full or partial).
Essentials of Nodes:
1. Decentralization: Ensures the network is not controlled by a single entity.
2. Security: Participates in the validation process to prevent attacks.
3. Scalability: Allows the network to process more transactions and grow.
How to run a node:
-Choose a blockchain: Select a blockchain project (e.g., $BTC , $ETH ,$BNB ).
-Meet hardware requirements: Ensure your computer meets the necessary specs (CPU, RAM, storage).
-Download software: Get the relevant node software (e.g., Bitcoin Core, Geth).
-Sync the blockchain: Download and verify the entire blockchain (may take days).
-Configure settings: Set up node settings (e.g., port, network).
-Connect to network: Connect your node to the blockchain network.
-Verify transactions: Participate in transaction verification (if applicable).
-Maintain node: Regularly update software and ensure node stability.
Running a node can be rewarding, but it also requires significant resources such as computing power, storage, and bandwidth.
#Write2Earn! #BinanceTurns7 #SOFR_Spike
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
013. ICO (Initial Coin Offering);
A fundraising mechanism used by blockchain projects to raise capital by issuing and selling new cryptocurrencies or tokens to investors.
Here's how it works:
1. Project creation: A team develops a blockchain-based project, creating a whitepaper outlining its goals, technology, and plans.
2. Token creation: A new cryptocurrency or token is created, representing a unit of value or utility within the project's ecosystem.
3. ICO campaign: The project team announces the ICO, setting a timeframe, token price, and funding goals.
4. Token sale: Investors buy tokens using cryptocurrencies like $BTC or $ETH .
5. Funding allocation: Raised funds are allocated to project development, marketing, and other expenses.
ICO types:
1. Public ICO: Open to anyone, with minimal restrictions.
2. Private ICO: Restricted to accredited investors or institutional investors.
3. Pre-ICO: Early access to tokens for strategic investors or partners.
Merits of ICO:
1. Fundraising: Raises capital for project development.
2. Community building: Creates a community of supporters and users.
3. Marketing: Generates buzz and publicity for the project.
However, ICOs also come with risks, such as:
1. Regulatory uncertainty
2. Scams and fraud
3. Market volatility
4. Lack of transparency
Investors should exercise caution and thoroughly research projects before participating in an ICO.
#BinanceTurns7 #SOFR_Spike #Write2Earn! #altcoins #BTC
A fundraising mechanism used by blockchain projects to raise capital by issuing and selling new cryptocurrencies or tokens to investors.
Here's how it works:
1. Project creation: A team develops a blockchain-based project, creating a whitepaper outlining its goals, technology, and plans.
2. Token creation: A new cryptocurrency or token is created, representing a unit of value or utility within the project's ecosystem.
3. ICO campaign: The project team announces the ICO, setting a timeframe, token price, and funding goals.
4. Token sale: Investors buy tokens using cryptocurrencies like $BTC or $ETH .
5. Funding allocation: Raised funds are allocated to project development, marketing, and other expenses.
ICO types:
1. Public ICO: Open to anyone, with minimal restrictions.
2. Private ICO: Restricted to accredited investors or institutional investors.
3. Pre-ICO: Early access to tokens for strategic investors or partners.
Merits of ICO:
1. Fundraising: Raises capital for project development.
2. Community building: Creates a community of supporters and users.
3. Marketing: Generates buzz and publicity for the project.
However, ICOs also come with risks, such as:
1. Regulatory uncertainty
2. Scams and fraud
3. Market volatility
4. Lack of transparency
Investors should exercise caution and thoroughly research projects before participating in an ICO.
#BinanceTurns7 #SOFR_Spike #Write2Earn! #altcoins #BTC
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
012. Mining:
Refers to the process in which new cryptocurrency coins or tokens are created and transactions are verified and added to a given blockchain on a public ledger. Miners use powerful computers to solve complex mathematical problems. Thus,
1. _Secure the network_: Prevents attacks and ensures the integrity of transactions. Attacks like 51% attack (to be covered)
2. _Verify transactions_: Confirms the legitimacy of transactions and prevents double-spending.
3. _Create new blocks_: Adds a new block of transactions to the blockchain.
4. _Reward miners_: Miners receive newly minted cryptocurrencies and transaction fees
✓The mining process involves:
1. _Transaction validation_: Miners collect and verify unconfirmed transactions.
2. _Block creation_: Miners group transactions into a new block.
3. _Proof-of-work_: Miners solve a complex mathematical puzzle (requiring significant computational power).
4. _Block addition_: The solved block is added to the blockchain.
5. _Network update_: Nodes update their copies of the blockchain.
✓The formats of mining include:
1. _Proof-of-work (PoW)_: Energy-intensive, uses powerful hardware (e.g., $BTC ).
2. _Proof-of-stake (PoS)_: Energy-efficient, uses validators with "staked" (to be explained later) cryptocurrencies (e.g., $ETH ).
3. _Pool mining_: Collaborative mining, shares resources and rewards.
4. _Cloud mining_: Remote mining, rents computing power from providers.
✓Requirements for mining:
1. _Hardware_: Powerful computers (GPUs, ASICs, or CPUs).
2. _Software_: Specialized mining software.
3. _Energy_: Significant power consumption.
4. _Internet connection_: High-speed connection for network communication.
Mining is a crucial component of decentralized cryptocurrencies, enabling secure, trustless transactions without central authorities!
#BinanceTurns7 #Write2Earn! #VanEck_SOL_ETFS #SOFR_Spike $SOL @Yi He @CaptainAltcoin @Kri #Bitcoin❗
Refers to the process in which new cryptocurrency coins or tokens are created and transactions are verified and added to a given blockchain on a public ledger. Miners use powerful computers to solve complex mathematical problems. Thus,
1. _Secure the network_: Prevents attacks and ensures the integrity of transactions. Attacks like 51% attack (to be covered)
2. _Verify transactions_: Confirms the legitimacy of transactions and prevents double-spending.
3. _Create new blocks_: Adds a new block of transactions to the blockchain.
4. _Reward miners_: Miners receive newly minted cryptocurrencies and transaction fees
✓The mining process involves:
1. _Transaction validation_: Miners collect and verify unconfirmed transactions.
2. _Block creation_: Miners group transactions into a new block.
3. _Proof-of-work_: Miners solve a complex mathematical puzzle (requiring significant computational power).
4. _Block addition_: The solved block is added to the blockchain.
5. _Network update_: Nodes update their copies of the blockchain.
✓The formats of mining include:
1. _Proof-of-work (PoW)_: Energy-intensive, uses powerful hardware (e.g., $BTC ).
2. _Proof-of-stake (PoS)_: Energy-efficient, uses validators with "staked" (to be explained later) cryptocurrencies (e.g., $ETH ).
3. _Pool mining_: Collaborative mining, shares resources and rewards.
4. _Cloud mining_: Remote mining, rents computing power from providers.
✓Requirements for mining:
1. _Hardware_: Powerful computers (GPUs, ASICs, or CPUs).
2. _Software_: Specialized mining software.
3. _Energy_: Significant power consumption.
4. _Internet connection_: High-speed connection for network communication.
Mining is a crucial component of decentralized cryptocurrencies, enabling secure, trustless transactions without central authorities!
#BinanceTurns7 #Write2Earn! #VanEck_SOL_ETFS #SOFR_Spike $SOL @Yi He @CaptainAltcoin @Kri #Bitcoin❗
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
011. Wallet Address:
Is a unique string of alphanumeric characters that identifies a specific wallet and allows users to Receive cryptocurrencies and Send cryptocurrencies (by sharing the address with the sender) It is a shorter version of a private/public key.
Wallet addresses are typically long strings of letters and numbers,case-sensitive and specific to a particular blockchain or cryptocurrency
Types of wallet addresses:
1. Public address: Shared publicly to receive funds
2. Private address: Kept secret to send funds (not to be confused with private keys)
Things to keep note of when sharing a wallet address to perform a transaction;
1. Double-check wallet addresses before sending funds
2. Keep your private keys and private addresses secure
3. Make sure the Blockchain network (eg.: tronchain, BnB smartchain, bitcoin network, ripple network, Ethereum network, etc) to be used if tallying with the address or the sender or receiver
4. Choose a network the suites your risk appetite in terms of transaction fees, speed of processing, etc and then confirm the wallet address again.
5. QR Code: Many wallet addresses are also represented as QR codes, which can be scanned for easier and faster transactions. The QR code contains the wallet address and sometimes additional information like the amount to be transferred.
6. Address Formats: Different cryptocurrencies have different address formats. Here are a few examples:
(a). Bitcoin ($BTC ): Addresses can be P2PKH (Pay-to-PubKey-Hash) starting with '1', P2SH (Pay-to-Script-Hash) starting with '3', or Bech32 (SegWit) starting with 'bc1'.
(b). Ethereum ($ETH ): Addresses start with '0x' followed by 40 hexadecimal characters
(c). Ripple ($XRP ): Addresses start with 'r' and are usually 34 characters long.
NB.: A small mistake in a wallet address can result in lost funds, so be cautious! Be it a case (lower or upper) for single character can mess up everything. I recommend to always copy and paste addresses other than writing them per character.#Write2Earn! #BinanceTurns7 #BinanceTournament #SOFR_Spike
Is a unique string of alphanumeric characters that identifies a specific wallet and allows users to Receive cryptocurrencies and Send cryptocurrencies (by sharing the address with the sender) It is a shorter version of a private/public key.
Wallet addresses are typically long strings of letters and numbers,case-sensitive and specific to a particular blockchain or cryptocurrency
Types of wallet addresses:
1. Public address: Shared publicly to receive funds
2. Private address: Kept secret to send funds (not to be confused with private keys)
Things to keep note of when sharing a wallet address to perform a transaction;
1. Double-check wallet addresses before sending funds
2. Keep your private keys and private addresses secure
3. Make sure the Blockchain network (eg.: tronchain, BnB smartchain, bitcoin network, ripple network, Ethereum network, etc) to be used if tallying with the address or the sender or receiver
4. Choose a network the suites your risk appetite in terms of transaction fees, speed of processing, etc and then confirm the wallet address again.
5. QR Code: Many wallet addresses are also represented as QR codes, which can be scanned for easier and faster transactions. The QR code contains the wallet address and sometimes additional information like the amount to be transferred.
6. Address Formats: Different cryptocurrencies have different address formats. Here are a few examples:
(a). Bitcoin ($BTC ): Addresses can be P2PKH (Pay-to-PubKey-Hash) starting with '1', P2SH (Pay-to-Script-Hash) starting with '3', or Bech32 (SegWit) starting with 'bc1'.
(b). Ethereum ($ETH ): Addresses start with '0x' followed by 40 hexadecimal characters
(c). Ripple ($XRP ): Addresses start with 'r' and are usually 34 characters long.
NB.: A small mistake in a wallet address can result in lost funds, so be cautious! Be it a case (lower or upper) for single character can mess up everything. I recommend to always copy and paste addresses other than writing them per character.#Write2Earn! #BinanceTurns7 #BinanceTournament #SOFR_Spike
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
010. A Wallet:
Is a software program or physical device that stores, sends, and receives digital assets like cryptocurrencies, tokens, and NFTs (Non-Fungible Token - a unique digital asset that represents ownership of a specific item characterized by Uniqueness, Verifiability, Indivisibility, Transferability, Security, Transparency, Scarcity. To be covered in details). It's essentially a digital container that holds your private keys, which are used to access and manage your crypto funds. $XRP $SOL $XLM
There are several types of crypto wallets:
1. Software wallets
Desktop wallets (e.g., Electrum, MyEtherWallet).
Mobile wallets (e.g., MetaMask, Trust Wallet)
Web wallets (e.g., Coinbase, Binance)
2. Hardware wallets:
Physical devices (e.g., Ledger, Trezor, Coldcard)
Store private keys offline for enhanced security
3. Paper wallets:
Physical documents containing private keys and public addresses
Not recommended due to security risks
4. Exchange wallets:
Provided by cryptocurrency exchanges (e.g., Coinbase, Binance)
Store your funds on the exchange's servers
Importance of crypto wallets:
1. Store: Hold your private keys and digital assets
2. Send: Transfer cryptocurrencies to other wallets
3. Receive: Accept incoming cryptocurrency transactions
4. Manage: View transaction history, balance, and asset portfolio
Factors to consider when choosing a wallet to use:
1. Security
2. Ease of use
3. Compatibility (with different cryptocurrencies and devices)
4. Private key control
5. Backup and recovery options
6. Sense of asset control by user
7. Reliability
Your wallet is the gateway to your crypto assets, so it's essential to choose a reliable and secure option! #BinanceTurns7 #Write2Earn! #MtGoxJulyRepayments #SOFR_Spike #Bitcoin_Coneference_2024
Is a software program or physical device that stores, sends, and receives digital assets like cryptocurrencies, tokens, and NFTs (Non-Fungible Token - a unique digital asset that represents ownership of a specific item characterized by Uniqueness, Verifiability, Indivisibility, Transferability, Security, Transparency, Scarcity. To be covered in details). It's essentially a digital container that holds your private keys, which are used to access and manage your crypto funds. $XRP $SOL $XLM
There are several types of crypto wallets:
1. Software wallets
Desktop wallets (e.g., Electrum, MyEtherWallet).
Mobile wallets (e.g., MetaMask, Trust Wallet)
Web wallets (e.g., Coinbase, Binance)
2. Hardware wallets:
Physical devices (e.g., Ledger, Trezor, Coldcard)
Store private keys offline for enhanced security
3. Paper wallets:
Physical documents containing private keys and public addresses
Not recommended due to security risks
4. Exchange wallets:
Provided by cryptocurrency exchanges (e.g., Coinbase, Binance)
Store your funds on the exchange's servers
Importance of crypto wallets:
1. Store: Hold your private keys and digital assets
2. Send: Transfer cryptocurrencies to other wallets
3. Receive: Accept incoming cryptocurrency transactions
4. Manage: View transaction history, balance, and asset portfolio
Factors to consider when choosing a wallet to use:
1. Security
2. Ease of use
3. Compatibility (with different cryptocurrencies and devices)
4. Private key control
5. Backup and recovery options
6. Sense of asset control by user
7. Reliability
Your wallet is the gateway to your crypto assets, so it's essential to choose a reliable and secure option! #BinanceTurns7 #Write2Earn! #MtGoxJulyRepayments #SOFR_Spike #Bitcoin_Coneference_2024
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
009. Fiat currency:
Is a type of currency that has no intrinsic value but is instead backed by a government's decree or law. In other words, its value is derived from the government's guarantee, rather than any physical commodity or asset.
Characteristics of fiat currency:
1. No intrinsic value: Fiat currency is not backed by gold, silver, or any other physical asset.
2. Government-backed: Its value is guaranteed by the government, which declares it as legal tender.
3. Centralized control: Fiat currency is controlled by central banks, which regulate supply and interest rates.
4. Unlimited supply: Central banks can control the amount of fiat currency in circulation. And they can print anytime to increase supply.
5. Widespread acceptance: Fiat currency is widely accepted as a medium of exchange.
6. Inflationary: Due to high supply and/or timely increase in supply makes Fiat currencies very inflationary (Inflation refers to persistent rise in prices of goods over time with persistent decline in monetary value)
Examples of fiat currencies:
1. US Dollar (USD)
2. Euro (EUR)
3. Japanese Yen (JPY)
4. British Pound (GBP)
5. Chinese Renminbi (RMB)
6. Uganda shillings (UGX.)
7. Etc.
>>Bonuses
(a). Fiat currency Vs. commodity-based currency:
Commodity-based currencies (e.g., gold standard) have intrinsic value due to the underlying asset whereas Fiat currencies rely on government trust and regulation.
(b). Fiat currency vs. cryptocurrencies: Cryptocurrencies (e.g., Bitcoin) are decentralized, digital, and often limited in supply (Deflationary in nature) while Fiat currencies are centralized, physical (although increasingly digital), and have variable supply.(Inflationary in nature) #BinanceTurns7 #Write2Earn! #ETH_ETFs_Approval_Predictions #MtGoxJulyRepayments
$SOL $SHIB $DOGE
#SOFR_Spike
@Yi He @CaptainAltcoin @Kri @U.today
Is a type of currency that has no intrinsic value but is instead backed by a government's decree or law. In other words, its value is derived from the government's guarantee, rather than any physical commodity or asset.
Characteristics of fiat currency:
1. No intrinsic value: Fiat currency is not backed by gold, silver, or any other physical asset.
2. Government-backed: Its value is guaranteed by the government, which declares it as legal tender.
3. Centralized control: Fiat currency is controlled by central banks, which regulate supply and interest rates.
4. Unlimited supply: Central banks can control the amount of fiat currency in circulation. And they can print anytime to increase supply.
5. Widespread acceptance: Fiat currency is widely accepted as a medium of exchange.
6. Inflationary: Due to high supply and/or timely increase in supply makes Fiat currencies very inflationary (Inflation refers to persistent rise in prices of goods over time with persistent decline in monetary value)
Examples of fiat currencies:
1. US Dollar (USD)
2. Euro (EUR)
3. Japanese Yen (JPY)
4. British Pound (GBP)
5. Chinese Renminbi (RMB)
6. Uganda shillings (UGX.)
7. Etc.
>>Bonuses
(a). Fiat currency Vs. commodity-based currency:
Commodity-based currencies (e.g., gold standard) have intrinsic value due to the underlying asset whereas Fiat currencies rely on government trust and regulation.
(b). Fiat currency vs. cryptocurrencies: Cryptocurrencies (e.g., Bitcoin) are decentralized, digital, and often limited in supply (Deflationary in nature) while Fiat currencies are centralized, physical (although increasingly digital), and have variable supply.(Inflationary in nature) #BinanceTurns7 #Write2Earn! #ETH_ETFs_Approval_Predictions #MtGoxJulyRepayments
$SOL $SHIB $DOGE
#SOFR_Spike
@Yi He @CaptainAltcoin @Kri @U.today
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
008. Stablecoin and Altcoin
(a). Stablecoin: A type of cryptocurrency designed to maintain a stable value relative to a fiat currency (e.g., USDT, USDC, DAI) and it is pegged to the value of a fiat currency, assets, commodity, or algorithmic mechanism aimed at reducing price volatility. This makes it suitable for:
- Payments
- Remittances
- E-commerce
- Hedging against market fluctuations
Some popular Examples include: USDT (Tether), USDC (USD Coin), DAI (Dai Stablecoin).
(b). Altcoin: Short for "Alternative Coin". It is any cryptocurrency that is not Bitcoin (BTC) and includes a wide range of cryptocurrencies with varying features, uses, and consensus algorithms ("to be covered later")
Examples of altcoins include: Ethereum ($ETH ), Litecoin (LTC), Monero (XMR), Dogecoin ($DOGE ), Ripple ($XRP ) and many more
Key differences:
1. Purpose: Stablecoins focus on stability, while altcoins often prioritize innovation, security, E-commerce, E-learning or specific use cases.
2. Volatility: Stablecoins aim to minimize price fluctuations, whereas altcoins can be more volatile.
3. Use cases: Stablecoins are suitable for everyday transactions, while altcoins might be used for specific applications, like smart contracts("to be covered") (such as on Ethereum) or privacy (on Monero).
#BinanceTurns7 #Write2Earn! #SOFR_Spike #MarketSentimentToday #ETH_ETFs_Approval_Predictions @Yi He @Decilizer @BullishBanter @CaptainAltcoin
(a). Stablecoin: A type of cryptocurrency designed to maintain a stable value relative to a fiat currency (e.g., USDT, USDC, DAI) and it is pegged to the value of a fiat currency, assets, commodity, or algorithmic mechanism aimed at reducing price volatility. This makes it suitable for:
- Payments
- Remittances
- E-commerce
- Hedging against market fluctuations
Some popular Examples include: USDT (Tether), USDC (USD Coin), DAI (Dai Stablecoin).
(b). Altcoin: Short for "Alternative Coin". It is any cryptocurrency that is not Bitcoin (BTC) and includes a wide range of cryptocurrencies with varying features, uses, and consensus algorithms ("to be covered later")
Examples of altcoins include: Ethereum ($ETH ), Litecoin (LTC), Monero (XMR), Dogecoin ($DOGE ), Ripple ($XRP ) and many more
Key differences:
1. Purpose: Stablecoins focus on stability, while altcoins often prioritize innovation, security, E-commerce, E-learning or specific use cases.
2. Volatility: Stablecoins aim to minimize price fluctuations, whereas altcoins can be more volatile.
3. Use cases: Stablecoins are suitable for everyday transactions, while altcoins might be used for specific applications, like smart contracts("to be covered") (such as on Ethereum) or privacy (on Monero).
#BinanceTurns7 #Write2Earn! #SOFR_Spike #MarketSentimentToday #ETH_ETFs_Approval_Predictions @Yi He @Decilizer @BullishBanter @CaptainAltcoin
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
007. Coins and Tokens:
In the cryptocurrency and blockchain space, the terms "coins" and "tokens" are often used interchangeably, but they have distinct differences:
(a). Coins: x-tics
Decentralization: Operates independently, without central control
Limited supply: Total amount of coins is capped or scheduled for release
Open-source: Blockchain code is publicly accessible
Cryptographic security: Transactions are secured through advanced cryptography
Consensus mechanism: Network participants validate transactions through algorithms like PoW (Proof of Work) or PoS (Proof of Stake).
1. Native to their own blockchain (e.g., Bitcoin, Ethereum)
2. Typically used as a form of currency or store of value
3. Have their own independent blockchain network
4. Can be mined (except for pre-mined coins)
5. Examples: Bitcoin ($BTC ), Litecoin (LTC), Monero (XMR)
(b). Tokens:
1. Built on top of another blockchain (e.g., Ethereum, Binance Smart Chain)
2. Often represent assets, utilities, or rights
3. Use the underlying blockchain's infrastructure
4. Can be created through smart contracts
5. Examples: ERC-20 tokens (e.g., DAI, LINK), Binance Coin ($BNB ), Tronix ($TRX )
Key differences:
1. Blockchain independence: Coins have their own blockchain, while tokens rely on another blockchain.
2. Purpose: Coins are often used as currency, while tokens represent assets or utilities.
3. Creation: Coins are mined, while tokens are created through smart contracts.
Understanding the distinction between coins and tokens helps clarify the diverse landscape of cryptocurrencies and blockchain projects.
#Write2Earn! #BinanceTurns7 #BinanceHODLerBANANA #SOFR_Spike
In the cryptocurrency and blockchain space, the terms "coins" and "tokens" are often used interchangeably, but they have distinct differences:
(a). Coins: x-tics
Decentralization: Operates independently, without central control
Limited supply: Total amount of coins is capped or scheduled for release
Open-source: Blockchain code is publicly accessible
Cryptographic security: Transactions are secured through advanced cryptography
Consensus mechanism: Network participants validate transactions through algorithms like PoW (Proof of Work) or PoS (Proof of Stake).
1. Native to their own blockchain (e.g., Bitcoin, Ethereum)
2. Typically used as a form of currency or store of value
3. Have their own independent blockchain network
4. Can be mined (except for pre-mined coins)
5. Examples: Bitcoin ($BTC ), Litecoin (LTC), Monero (XMR)
(b). Tokens:
1. Built on top of another blockchain (e.g., Ethereum, Binance Smart Chain)
2. Often represent assets, utilities, or rights
3. Use the underlying blockchain's infrastructure
4. Can be created through smart contracts
5. Examples: ERC-20 tokens (e.g., DAI, LINK), Binance Coin ($BNB ), Tronix ($TRX )
Key differences:
1. Blockchain independence: Coins have their own blockchain, while tokens rely on another blockchain.
2. Purpose: Coins are often used as currency, while tokens represent assets or utilities.
3. Creation: Coins are mined, while tokens are created through smart contracts.
Understanding the distinction between coins and tokens helps clarify the diverse landscape of cryptocurrencies and blockchain projects.
#Write2Earn! #BinanceTurns7 #BinanceHODLerBANANA #SOFR_Spike
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
006. A White Paper:
Is a detailed, authoritative, and informative document that presents a comprehensive overview of a project, technology, or solution. In the context of cryptocurrency and blockchain, a White Paper typically:
1. Introduces the project's mission, vision, and objectives
2. Explains the underlying technology and architecture
3. Describes the tokenomics (token economy) and distribution
4. Outlines the development roadmap and timeline
5. Discusses the potential applications and use cases
6. Presents the team and their expertise
The purpose of a White Paper is to:
1. Educate readers about the project
2. Build trust and credibility
3. Attract investors, partners, and users
4. Provide a clear understanding of the project's goals and potential
Satoshi Nakamoto's Bitcoin White Paper (2008) is a seminal example, revolutionizing the concept of decentralized currency.
White Papers have become a standard practice in the cryptocurrency and blockchain space, helping to promote transparency, accountability, and innovation.
#Bitcoin_Coneference_2024 #Write2Earn! #BinanceTurns7 #ETH_ETFs_Approval_Predictions
$BTC $ETH $SOL @Yi He @Decilizer
Is a detailed, authoritative, and informative document that presents a comprehensive overview of a project, technology, or solution. In the context of cryptocurrency and blockchain, a White Paper typically:
1. Introduces the project's mission, vision, and objectives
2. Explains the underlying technology and architecture
3. Describes the tokenomics (token economy) and distribution
4. Outlines the development roadmap and timeline
5. Discusses the potential applications and use cases
6. Presents the team and their expertise
The purpose of a White Paper is to:
1. Educate readers about the project
2. Build trust and credibility
3. Attract investors, partners, and users
4. Provide a clear understanding of the project's goals and potential
Satoshi Nakamoto's Bitcoin White Paper (2008) is a seminal example, revolutionizing the concept of decentralized currency.
White Papers have become a standard practice in the cryptocurrency and blockchain space, helping to promote transparency, accountability, and innovation.
#Bitcoin_Coneference_2024 #Write2Earn! #BinanceTurns7 #ETH_ETFs_Approval_Predictions
$BTC $ETH $SOL @Yi He @Decilizer
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
005. A Satoshi:
Is the smallest unit of the $BTC cryptocurrency. The term "Satoshi" was coined (pun intended) to honor the creator of Bitcoin and to provide a way to express smaller amounts of Bitcoin.
1 Satoshi = 0.00000001 Bitcoin ($BTC ). In other words, there are 100,000,000 Satoshis in 1 $BTC .
Satoshi is often abbreviated as "sat" or "sats". It's used to represent tiny fractions of a Bitcoin, making it easier to buy, sell, and trade small amounts of cryptocurrency.
For example:
- 1 sat = 0.00000001 BTC
- 100 sat = 0.000001 BTC
- 1,000 sat = 0.00001 BTC
- 10,000 sat = 0.0001 BTC
- 100,000 sat = 0.001 BTC
- 1,000,000 sat = 0.01 BTC
- 10,000,000 sat = 0.1 BTC
- 100,000,000 sat = 1 BTC
Satoshi has become a widely recognized term in the cryptocurrency community, symbolizing the smallest unit of Bitcoin and the creator's legacy.
#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceTurns7 #Write2Earn!
Is the smallest unit of the $BTC cryptocurrency. The term "Satoshi" was coined (pun intended) to honor the creator of Bitcoin and to provide a way to express smaller amounts of Bitcoin.
1 Satoshi = 0.00000001 Bitcoin ($BTC ). In other words, there are 100,000,000 Satoshis in 1 $BTC .
Satoshi is often abbreviated as "sat" or "sats". It's used to represent tiny fractions of a Bitcoin, making it easier to buy, sell, and trade small amounts of cryptocurrency.
For example:
- 1 sat = 0.00000001 BTC
- 100 sat = 0.000001 BTC
- 1,000 sat = 0.00001 BTC
- 10,000 sat = 0.0001 BTC
- 100,000 sat = 0.001 BTC
- 1,000,000 sat = 0.01 BTC
- 10,000,000 sat = 0.1 BTC
- 100,000,000 sat = 1 BTC
Satoshi has become a widely recognized term in the cryptocurrency community, symbolizing the smallest unit of Bitcoin and the creator's legacy.
#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceTurns7 #Write2Earn!
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
004. The legendary Satoshi Nakamoto!
Satoshi Nakamoto is the pseudonymous person or group of people who created the #Bitcoin protocol and reference implementation. The true identity of Nakamoto is still unknown, and it is not clear whether the name is a pseudonym or a real name.
Satoshi Nakamoto published a whitepaper in October 2008 that proposed the Bitcoin ($BTC ) protocol as a new form of electronic cash. He then began working on the Bitcoin software implementation, and on January 3, 2009, he created the first block in the Bitcoin blockchain, known as the Genesis Block.
Nakamoto continued to contribute to the development of Bitcoin until December 2010, when he or she stopped contributing to the project and disappeared from the public eye. The last known communication from Nakamoto was an email sent to a fellow developer in April 2011.
Despite numerous attempts to uncover Nakamoto's true identity, it remains a mystery. Some people believe Nakamoto may be a group of people or a pseudonym for a well-known cryptographer or computer scientist. Others believe Nakamoto may have passed away or chosen to remain anonymous for personal reasons.
Regardless of Nakamoto's true identity, his or her contribution to the development of Bitcoin and the broader cryptocurrency space is undeniable.
smash the follow button #ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$SOL $ETH
Satoshi Nakamoto is the pseudonymous person or group of people who created the #Bitcoin protocol and reference implementation. The true identity of Nakamoto is still unknown, and it is not clear whether the name is a pseudonym or a real name.
Satoshi Nakamoto published a whitepaper in October 2008 that proposed the Bitcoin ($BTC ) protocol as a new form of electronic cash. He then began working on the Bitcoin software implementation, and on January 3, 2009, he created the first block in the Bitcoin blockchain, known as the Genesis Block.
Nakamoto continued to contribute to the development of Bitcoin until December 2010, when he or she stopped contributing to the project and disappeared from the public eye. The last known communication from Nakamoto was an email sent to a fellow developer in April 2011.
Despite numerous attempts to uncover Nakamoto's true identity, it remains a mystery. Some people believe Nakamoto may be a group of people or a pseudonym for a well-known cryptographer or computer scientist. Others believe Nakamoto may have passed away or chosen to remain anonymous for personal reasons.
Regardless of Nakamoto's true identity, his or her contribution to the development of Bitcoin and the broader cryptocurrency space is undeniable.
smash the follow button #ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$SOL $ETH
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
003. Bitcoin ($BTC
): Is a decentralized digital currency that allows for peer-to-peer transactions through a Blockchain without the need for intermediaries like banks. It was created in 2009 by an anonymous individual or group using the name Satoshi Nakamoto.
Here are some key characteristics of Bitcoin:
1. Decentralized: Bitcoin operates on a decentralized network of computers, rather than a central authority.
2. Digital: Bitcoin exists only in digital form, with no physical coins or bills.
3. Limited supply: The total supply of Bitcoin is capped at 21 million. And there will never be any other minting making it a deflationary and scarce asset.
4. Fast and global: Bitcoin transactions are processed quickly, regardless of the sender's and recipient's locations.
5. Secure: Bitcoin transactions are secured through cryptography and a consensus mechanism called proof-of-work.
6. Open-source: Bitcoin's underlying code is open-source, allowing developers to review and contribute to it.
Bitcoin can be used for:
1. Payments: Bitcoin can be used to purchase goods and services from merchants who accept it.
2. Investments: Bitcoin can be bought and held as an investment, similar to stocks or commodities.
3. Remittances: Bitcoin can be used to send money across borders, often with lower fees and faster processing times than traditional methods.
#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #Write2Earn! $ETH $BNB
): Is a decentralized digital currency that allows for peer-to-peer transactions through a Blockchain without the need for intermediaries like banks. It was created in 2009 by an anonymous individual or group using the name Satoshi Nakamoto.
Here are some key characteristics of Bitcoin:
1. Decentralized: Bitcoin operates on a decentralized network of computers, rather than a central authority.
2. Digital: Bitcoin exists only in digital form, with no physical coins or bills.
3. Limited supply: The total supply of Bitcoin is capped at 21 million. And there will never be any other minting making it a deflationary and scarce asset.
4. Fast and global: Bitcoin transactions are processed quickly, regardless of the sender's and recipient's locations.
5. Secure: Bitcoin transactions are secured through cryptography and a consensus mechanism called proof-of-work.
6. Open-source: Bitcoin's underlying code is open-source, allowing developers to review and contribute to it.
Bitcoin can be used for:
1. Payments: Bitcoin can be used to purchase goods and services from merchants who accept it.
2. Investments: Bitcoin can be bought and held as an investment, similar to stocks or commodities.
3. Remittances: Bitcoin can be used to send money across borders, often with lower fees and faster processing times than traditional methods.
#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #Write2Earn! $ETH $BNB
LIVEBoltonfx
--
صاعد
002. Blockchain: .Is a decentralized, distributed ledger technology that records transactions and data across a network of computers in a secure and transparent manner.
This ensures that the record cannot be altered retroactively without altering all subsequent blocks.
It is the underlying technology behind cryptocurrencies like $BTC , $ETH , and many others.
Here are the key features and merits of blockchain:
1. Decentralized: Blockchain is a peer-to-peer network with no central authority or single point of failure.
2. Distributed ledger: A copy of the blockchain is maintained by each node on the network, ensuring a consistent and up-to-date record.
3. Immutable: Transactions on the blockchain are immutable, meaning once recorded, they cannot be altered or deleted.
4. Transparent: All transactions are time-stamped and visible to anyone on the network.
5. Consensus mechanism: Nodes on the network agree on the state of the blockchain through a consensus mechanism, ensuring the integrity of the data.
6. Cryptographic hashes: Transactions are linked together using cryptographic hashes, making it difficult to alter or manipulate the data.
7. Smart contracts: Blockchain can execute smart contracts, which are self-executing contracts with the terms of the agreement written directly into code.
Blockchain technology has various applications beyond cryptocurrencies, including:
1. Supply chain management
2. Identity verification
3. Healthcare records
4. Voting systems
5. Intellectual property management
6. Cybersecurity
7. Financial transactions
#ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$XRP
This ensures that the record cannot be altered retroactively without altering all subsequent blocks.
It is the underlying technology behind cryptocurrencies like $BTC , $ETH , and many others.
Here are the key features and merits of blockchain:
1. Decentralized: Blockchain is a peer-to-peer network with no central authority or single point of failure.
2. Distributed ledger: A copy of the blockchain is maintained by each node on the network, ensuring a consistent and up-to-date record.
3. Immutable: Transactions on the blockchain are immutable, meaning once recorded, they cannot be altered or deleted.
4. Transparent: All transactions are time-stamped and visible to anyone on the network.
5. Consensus mechanism: Nodes on the network agree on the state of the blockchain through a consensus mechanism, ensuring the integrity of the data.
6. Cryptographic hashes: Transactions are linked together using cryptographic hashes, making it difficult to alter or manipulate the data.
7. Smart contracts: Blockchain can execute smart contracts, which are self-executing contracts with the terms of the agreement written directly into code.
Blockchain technology has various applications beyond cryptocurrencies, including:
1. Supply chain management
2. Identity verification
3. Healthcare records
4. Voting systems
5. Intellectual property management
6. Cybersecurity
7. Financial transactions
#ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$XRP
ترجمة
002. Blockchain: .Is a decentralized, distributed ledger technology that records transactions and data across a network of computers in a secure and transparent manner.
This ensures that the record cannot be altered retroactively without altering all subsequent blocks.
It is the underlying technology behind cryptocurrencies like $BTC , $ETH , and many others.
Here are the key features and merits of blockchain:
1. Decentralized: Blockchain is a peer-to-peer network with no central authority or single point of failure.
2. Distributed ledger: A copy of the blockchain is maintained by each node on the network, ensuring a consistent and up-to-date record.
3. Immutable: Transactions on the blockchain are immutable, meaning once recorded, they cannot be altered or deleted.
4. Transparent: All transactions are time-stamped and visible to anyone on the network.
5. Consensus mechanism: Nodes on the network agree on the state of the blockchain through a consensus mechanism, ensuring the integrity of the data.
6. Cryptographic hashes: Transactions are linked together using cryptographic hashes, making it difficult to alter or manipulate the data.
7. Smart contracts: Blockchain can execute smart contracts, which are self-executing contracts with the terms of the agreement written directly into code.
Blockchain technology has various applications beyond cryptocurrencies, including:
1. Supply chain management
2. Identity verification
3. Healthcare records
4. Voting systems
5. Intellectual property management
6. Cybersecurity
7. Financial transactions
#ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$XRP
This ensures that the record cannot be altered retroactively without altering all subsequent blocks.
It is the underlying technology behind cryptocurrencies like $BTC , $ETH , and many others.
Here are the key features and merits of blockchain:
1. Decentralized: Blockchain is a peer-to-peer network with no central authority or single point of failure.
2. Distributed ledger: A copy of the blockchain is maintained by each node on the network, ensuring a consistent and up-to-date record.
3. Immutable: Transactions on the blockchain are immutable, meaning once recorded, they cannot be altered or deleted.
4. Transparent: All transactions are time-stamped and visible to anyone on the network.
5. Consensus mechanism: Nodes on the network agree on the state of the blockchain through a consensus mechanism, ensuring the integrity of the data.
6. Cryptographic hashes: Transactions are linked together using cryptographic hashes, making it difficult to alter or manipulate the data.
7. Smart contracts: Blockchain can execute smart contracts, which are self-executing contracts with the terms of the agreement written directly into code.
Blockchain technology has various applications beyond cryptocurrencies, including:
1. Supply chain management
2. Identity verification
3. Healthcare records
4. Voting systems
5. Intellectual property management
6. Cybersecurity
7. Financial transactions
#ETH_ETFs_Trading_Today #Write2Earn! #Bitcoin_Coneference_2024
$XRP
LIVEBoltonfx
--
صاعد
120 most used crypto terms that you will encounter in this industry. A concise explanation. If you're Novince in this industry of money evolution get closer and FOLLOW for more and keep engaged. Today 22nd July, 2024 we start off.
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
001. Cryptocurrency - Digital or virtual currency using cryptographic technologies and enhanced security.
watch out for 002 in day 2 of 120 days
#Write2Earn! #Biden_Out_BTC_Up #BinanceAcademyKH
$BTC $ETH $BNB
ترجمة
The voting has spanned out... the results are visible.
hundreds of binancians casted their votes on preferences .
48% of US are "HODLERs"
35% like Airdrops more
11% have mastered the skill of trading psychology
6% participate in binance earning activities like simple earn by staking for an APY reward, referral bonuses, red packets from binance live, etc etc
#BinanceTurns7 #Write2Earn! #ETH_ETF_Approval_23July $BTC $XRP $XLM
hundreds of binancians casted their votes on preferences .
48% of US are "HODLERs"
35% like Airdrops more
11% have mastered the skill of trading psychology
6% participate in binance earning activities like simple earn by staking for an APY reward, referral bonuses, red packets from binance live, etc etc
#BinanceTurns7 #Write2Earn! #ETH_ETF_Approval_23July $BTC $XRP $XLM
LIVEBoltonfx
--
صاعد
let's get this down... and test the level of preferences
$BTC $XRP $XLM #AirdropGuide #Write2Earn!
place your votes, in 7 days we shall see where most of crypto loves fall.
don't forget that follow back
$BTC $XRP $XLM #AirdropGuide #Write2Earn!
place your votes, in 7 days we shall see where most of crypto loves fall.
don't forget that follow back
استكشف أحدث أخبار العملات الرقمية
⚡️ كُن جزءًا من أحدث النقاشات في مجال العملات الرقمية
💬 تفاعل مع مُنشِئي المُحتوى المُفضّلين لديك
👍 استمتع بالمحتوى الذي يثير اهتمامك
البريد الإلكتروني / رقم الهاتف
المواضيع الرائجة
MarketDownturn
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ما هي العملات الرقمية التي ترتفع 1000x؟
المقصود من العملات الرقمية التي ترتفع 1000x هو التي تتضاعف قيمتها 1000 مرة. أي أنها تزيد بنسبة 100 ألف%. وهذا يعني أنه أمام كل دولار مثلا ستضعه في هذا المشروع سيكون العائد الربحي 1000 دولار .#MarketDownturn
من أفضل الأمثلة لمشاريع العملات الرقمية التي ترتفع 1000x هي مشاريع موجودة حاليا ضمن أفضل 10 مشاريع في السوق. وهي:
عملة بيتكوين وهي أشهر عملة رقمية على الإطلاق وذات أكبر قيمة سوقية في بورصة العملات الرقمية.
عملة إيثيريوم وهي ثاني أشهر عملة بعد بيتكوين وثاني أكبر قيمة سوقية بعدها. $ETH
عملة BNB التابعة لمنصة بينانس الشهيرة وتعتبر ثالث أكبر عملة من حيث القيمة السوقية.
عملة ADA التابعة لمشروع كاردانو الشهير. $ADA
وربما تكون من أشهر العملات على الإطلاق من حيث الزيادات الجنونية هي عملة الميم شيبا إينو. فلقد زادت هذه العملة بطريقة رهيبة جدا وصلت إلى أن الدولار الواحد كان العائد الربحي عليه 140 ألف دولار. $SHIB
mohamed kori
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Binance
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42,486 منشور
bitcoin
31.3M مشاهدات
24,965 منشور
