It is a fundamental principle in the world of cryptocurrencies and investments in general; it is about those of you who plan to invest making decisions based on your own analysis rather than blindly trusting what others say...
What is the purpose of doing DYOR?
Avoid scams and frauds:
In the crypto world, there are many unethical or outright fraudulent projects that promise quick profits.
DYOR helps identify warning signs before investing.
0x Protocol (ZRX) is an open-source decentralized exchange (DEX) infrastructure that facilitates the exchange of tokenized assets across multiple blockchains. Allows developers to integrate trading functionalities into their applications and market makers to establish markets for cryptocurrencies and tokens.
Main features: Interoperability between blockchains: 0x Protocol enables the exchange of tokenized assets across various blockchains, facilitating interoperability in the cryptocurrency ecosystem.
Michael Saylor is the co-founder and chairman of MicroStrategy, a company specializing in data analytics software. Saylor has been an active advocate for Bitcoin and has promoted its adoption within companies as a way to protect against inflation.
Key Aspects Michael J. Saylor is an entrepreneur known for being the co-founder and executive chairman of MicroStrategy.
He is a strong advocate for Bitcoin, which he calls "digital gold." His company, MicroStrategy, owns more than 1.4% of all available bitcoins (over 330,000 BTC).
JUST (JST) is a decentralized finance (DeFi) ecosystem built on the TRON blockchain. Its goal is to provide a complete platform for stablecoin lending and governance mechanisms, allowing users to participate in the creation and management of digital assets.
Main features: USDJ Stablecoin: JUST introduces USDJ, a stablecoin pegged to the US dollar, which is generated by collateralizing TRX through the JUST CDP portal.
Decentralized Governance: JST holders can participate in the governance of the protocol, influencing key decisions such as interest rates and platform parameters.
WHAT ARE MULTI-SIGNATURE SCAMS (AND HOW TO AVOID THEM)
Multi-signature wallets are an additional security measure that requires multiple private keys to authorize a transaction. However, scammers also use these wallets to trick users into stealing cryptocurrencies. Multisig scams are especially common on the Tron network, and often involve tricking users into sending cryptocurrency to cover transaction fees.
What is a multisig wallet? A multisig wallet is a type of cryptocurrency wallet that requires more than one private key to authorize a transaction.
SushiSwap (SUSHI) is a decentralized exchange (DEX) that allows the trading of tokens on the Ethereum blockchain. Its native token, SUSHI, is used for various functions within the ecosystem, including participation in governance and earning rewards for providing liquidity.
Main features: Liquidity provision: Users can contribute liquidity to SushiSwap pools and receive rewards in SUSHI for their contributions.
Decentralized governance: SUSHI holders have the right to participate in key decisions regarding the development and future direction of the platform.
A Memo (also known as a Tag or Destination ID) is a numeric or alphanumeric code used when transacting with cryptocurrencies on specific networks. Its main function is to uniquely identify the recipient or assign a transaction to a specific account within an exchange or platform.
Why is a Memo needed?
Some cryptocurrencies, such as XRP (Ripple), XLM (Stellar), or BNB (Binance Coin), allow users to have a single shared wallet address across platforms such as exchanges.
WHAT ARE "MACD" AND "RSI" (AND HOW TO TAKE ADVANTAGE OF THEM)
MACD and RSI are two popular trading tools for predicting cryptocurrency price movements.
Although they can also be used to find the best buying times for the long term.
I'll explain it to you as briefly as possible:
MACD The MACD compares two lines that show price averages. If the short-term line is above the long-term line, it suggests that the price could rise.
If it is below, it could go down. It also uses a signal line: if the MACD crosses the signal line upwards, it is a buy signal, and if it crosses downwards, it is a sell signal.
Holo (HOT) is a cryptocurrency that powers Holochain, an open-source platform designed for distributed applications that do not rely on global consensus, but rather on an agent-centric approach. Holochain enables developers to create efficient and scalable decentralized applications (dApps), facilitating peer-to-peer interactions without centralized intermediaries.
Main features: Agent-centric approach: Unlike traditional blockchains that require global consensus, Holochain allows each user to maintain their own record, improving scalability and reducing the need for resource-intensive processes.
Theta Fuel (TFUEL) is the operating token of the Theta network, a decentralized platform designed for video and data streaming. TFUEL is used for various operations within the Theta protocol, including payments to edge nodes for services such as artificial intelligence computing, video encoding/transcoding, and 3D rendering, as well as to deploy and interact with smart contracts.
Main features: Operating token: TFUEL facilitates transactions on the Theta network, allowing payments for services and on-chain operations.
Astar Network (ASTR) is an interoperable blockchain platform that acts as a hub for the development of decentralized applications (dApps) within the Polkadot and Ethereum ecosystems. Supports smart contracts on both the Ethereum Virtual Machine (EVM) and WebAssembly (WASM), facilitating the creation and migration of dApps from other chains.
Key Features: Multichain Interoperability: Astar enables communication between different blockchains, facilitating the transfer of data and assets between them.
Trust Wallet Token (TWT) is the native utility token of Trust Wallet, a decentralized and open-source cryptocurrency wallet that allows users to store, manage, and trade a wide variety of digital assets. TWT is used to incentivize and reward users within the Trust Wallet ecosystem, promoting active participation and adoption of the platform.
Main features: Governance token: TWT holders can participate in the decision-making process of Trust Wallet, voting and proposing internal application features, updates, and other significant changes.
Convex Finance (CVX) is a decentralized finance (DeFi) platform built on Curve Finance, designed to optimize rewards for liquidity providers and CRV stakers. Launched in 2021, Convex Finance allows users to maximize their yields in the Curve ecosystem without the need to lock their CRV tokens directly in Curve.
Main features: Yield optimization: Convex Finance allows Curve liquidity providers and CRV stakers to earn additional yields without the restrictions associated with traditional staking in Curve.
Book of Meme (BOME) is a cryptocurrency based on the Solana blockchain, created by the artist Darkfarms. Its purpose is to serve as a digital archive for memes, combining internet culture with blockchain technology to offer a unique community-oriented platform.
Key features: Focus on memes: Book of Meme focuses on the creation, storage, and distribution of memes, allowing users to participate in a community that values humor and digital creativity.
Livepeer (LPT) is a decentralized network designed for real-time video transcoding and distribution, built on the Ethereum blockchain. Its goal is to provide a scalable and cost-effective video infrastructure, allowing developers to efficiently integrate streaming capabilities into their applications.
Key features: Decentralized transcoding: Livepeer enables the conversion of videos into different formats and resolutions through a network of participating nodes, eliminating reliance on centralized services and reducing costs.
ether.fi (ETHFI) is a decentralized and non-custodial staking protocol developed on the Ethereum blockchain. Unlike traditional staking platforms, ether.fi allows users to maintain full control over their assets while participating in the staking process, promoting decentralization and security within the network.
Main features: Non-custodial staking: Users retain ownership of their private keys during staking, ensuring greater security and control over their funds.
Kusama (KSM) is an experimental and scalable network of specialized blockchains, built using Substrate and sharing a nearly identical codebase to Polkadot. Founded in 2019 by Gavin Wood, co-founder of Ethereum and founder of Polkadot, Kusama serves as a public pre-production environment for Polkadot, allowing developers to test and experiment with new blockchains or applications before their deployment on the mainnet.
Main features: Relay Chain: This is the main Kusama chain where transactions are finalized. It separates the addition of new transactions from their validation, allowing for fast, low-cost transactions.
Kava (KAVA) is a decentralized finance (DeFi) platform that allows users to obtain secured loans and access stablecoins using various crypto assets as collateral. Built on the Cosmos SDK, Kava offers cross-chain interoperability, facilitating the integration of assets from different blockchains.
Main features: Secured loans: Users can lock their crypto assets as collateral to obtain loans in USDX, Kava's native stablecoin pegged to the US dollar.
Terra Classic (LUNC) is the native cryptocurrency of the original Terra blockchain, now called Terra Classic. This decentralized open-source blockchain platform was designed to facilitate global payments using algorithmic stablecoins linked to various fiat currencies. Main features: Algorithmic stablecoins: Terra Classic uses a system of stablecoins whose value is maintained stable through algorithms and the use of LUNC as a backing token.