๐๐๐3 ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐ก๐๐ญ ๐๐๐ค๐ ๐๐๐จ๐ฉ๐ฅ๐ ๐๐จ๐ง๐๐ฒ ๐๐ง ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐ฌ๐ข๐๐ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐ซ๐๐๐ข๐ง๐
Heard someone used Metamask, Trust
Wallet or Bitget to browse before orโฆ
Heard them use it to earn money from
savings, farming, staking inside
or through that wallet? Andโฆ
You don't really understand what's going on?
Okay here is it!
Remember, in yesterday's topic, I explained
how Blockchain is the foundation to Crypto
Or Web3 applications?
There are many different types of applications built on the Blockchain.
Examples of these applications are:
- Decentralized Finance (DeFi)
- Decentralized Applications (dApps)
- Non-fungible tokens (NFTs)
- And many more.
Let's take a closer look at them below:
DeFi gives you an opportunity to make any financial transactions on the Blockchain
with NO third party serving as a
middle man like in our
traditional banking
sector.
Examples of transactions you can make
on DeFi includes all activities that allow
you put in your money in the form of
savings or investments and get it
back with profits or sometimes
little losses (it's normal!)
DApps are applications that run on a
decentralized network
(Ethereum network).
Examples of DApps include any
application you can run in any
wallet like Metamask, Trust
wallet or Bitget in form
of a normal website.
And lastlyโฆ
NFTs are unique digital assets that can be
bought, sold or traded on any marketplace
like Opensea, Magic Eden, Blur, etc.
Examples of NFTs are anything real or
physical assets that you can have its
digital representation on the
Blockchain like arts, lands,
music, and many more.
And this makes it a wrap for Day 3.
๐ญ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐? ๐ป๐๐๐ ๐ญ๐ถ๐ณ๐ณ๐ถ๐พ ๐๐
ยฉ Michael Akerele (#AwesomeMike)
