LIVEBasic Concepts in Crypto
1--L2 Network: Simply put, L2 is like a highway in our daily lives. When the original network (such as the main road of BTC or ETH) is busy, the data can be transferred to the L2 network highway to relieve the pressure on the main network.
2--NFT: A "unique" representation of digital artwork, music, videos, etc. You can think of it as adding a lock to each picture or video to ensure its uniqueness.
3--DeFi: All traditional financial operations, such as deposits, loans, and transactions, are completed on the blockchain without the need for banks or other intermediaries.
4--Meta: Imagine a virtual world that is almost identical to the real world, where people can work, study, shop, etc.
5--Web3: The next generation of the Internet, where not only information can flow freely, but users can also benefit from it.
6--Inscriptions: A unit of Bitcoin, which can be regarded as the "name" of Bitcoin. When transferring Bitcoin, some information can be attached, and this information is called an inscription.
7--Depinn: A blockchain network composed of offline devices, similar to Bitcoin nodes, but with different devices.
8--RWA: A project pegged to real assets. Although it sounds promising, investors need to be cautious in judging its authenticity.
9--Meme Coin: A digital currency that is purely driven by people's preferences and emotions. It is cheap, but the risk is high.
10--CEX and DEX: Trading platforms for digital assets. CEX is centralized, while DEX is decentralized.
