Yield farming is an innovative application of decentralized finance that is becoming increasingly popular. It involves staking crypto assets to generate high returns in the form of additional cryptocurrency. It is a volatile, risky practice, but one that has generated extremely high annual percentage yields. A number of yield farming protocols exist: Aave, Compound, Curve Finance, Uniswap and its … [Read more...]
Introduction to Non-Fungible Tokens
Non fungible tokens are basically the representation of a unique item that is stored on the blockchain. It can be something as simple as a MS paint drawing or something much more complex. NFTs are different than digital currencies like Bitcoin because they are completely unique and there is only one available. NFTs can be used in many different ways, such as currency in a game or just as a way to … [Read more...]
What Are Fan Tokens?
Fan tokens are a form of cryptocurrency and they let anyone who holds them get access to many different membership perks. Some of the perks can include voting on club decisions or having access to merchanise designs. A fan token is competely fungible and can be exchanged so it is much different than an NFT. It works very similar to cash but the value is constantly changing. The value of a fan … [Read more...]
Beginner’s Guide to Social DAOs and How To Join Them
Decentralized autonomous organizations (DAOs) aren't linked to a specific location such as an office or country; therefore, there is no central authority with users having a say in the decisions that the DAO makes. Usually DAOs are comprised of individuals who are have similar minds and are trying to reach a shared goal. These organizations can be different sizes consisting of either a few members … [Read more...]
What Is Web 3.0?
Web 3.0 represents a new phase in the evolution of the internet. It places a strong emphasis on decentralization, machine learning, and Big Data. Historically, Web 1.0, also known as the Static Web, offered little interaction. Web 2.0, which began around 2005, is called the Social Web. It emphasizes interactive platforms like YouTube, Facebook and Wikipedia. Web 3.0 is still coming. Its key … [Read more...]
What Is the Metaverse – An Overview and a Deep Dive Into the Top Metaverses
While many people think the metaverse is a form of virtual reality, this isn't the case because the metaverse is actually an expansion beyond the digital realm. This is a place where users can interact in real-time with one another. Several characteristics of the metaverse include being infinite in space, synchronous in communication, interoperable, and having a thriving economy. This is a place … [Read more...]
How to Safeguard Your Bitcoins
You worked hard for your Bitcoins. It’s important to keep them safe. A few, simple practices can prevent 95% of Bitcoin losses. Most losses are due to catastrophe, theft, hacking, or technical issues. While no solution can guarantee against loss, there are steps you can take to secure your Bitcoins. Be diligent and protect your Bitcoins with these strategies: Maintain control of your private … [Read more...]
Why You Might Want to Wait Before You Invest in Bitcoins
Holding Bitcoins is a bit like living in the Wild West. You never know what’s going to happen. If you’re interested in speculation, the purchase of Bitcoins may be a good idea. However, there are several reasons why holding Bitcoins can be a mistake. Bitcoins can lose value suddenly, suffer from a lack of governmental oversight, and offer no protection in the case of loss or theft. If you’re … [Read more...]
Common Myths About Cryptocurrencies
As with any other fringe product or service, there are many myths surrounding cryptocurrencies. Cryptocurrencies aren't just for computer geeks and drug dealers trying to avoid the government. Relieving yourself of these myths will permit the formulation of a more accurate opinion. It's easier to make informed decisions when your knowledge is sound. Myths regarding cryptocurrencies … [Read more...]
The Most Important Cryptocurrencies Besides Bitcoin
Everyone has heard of Bitcoin, even if they don't fully understand it. There are numerous other cryptocurrencies besides Bitcoin. According to Wikipedia, there are 19 active cryptocurrencies, and most of these were released in the last couple of years. Coinmarketcap.com lists 100 cryptocurrencies. Many experts believe the numbers will continue to climb. Bitcoin has a considerable head start on … [Read more...]