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Very recent technological developments have enabled a new kind of internet platform in-which the user owns / controls their own data, property, money, and level of involvement in the system. We are calling it Web3
To demystify concepts like crypto and web3.
To clearly explain real world use cases,
including how to use crypto for wealth building.
To clearly explain how the transition works.
and to directly help people get through the basics smoothly.
Money left the gold standard in 1933. The internet has grown into a thing of its own. How do we create giant platforms without the negative side effects that we clearly see now from the current system? The dream of decentralization exists. Though a serious computer problem remains.
Bitcoin is released by an anonymous source, solving the seven generals problem. Now over a decade later, it remains a proven store of value.
21 million BTC are all that will ever exist.
While bitcoin had solved the byzantine fault tolerance problem, it was clearly just the beginning. The internet now has many layers, each have their own native token and personality.
Finance is the first sector that crypto must integrate because all of the other industries will require a fully mature digital finance infrastructure in order to justify taking the leap into web3.
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A reward delivered directly to a crypto wallet. Typically sent directly from the project hosts.
Any crypto-currency project which operates entirely inside the eco-system of a larger crypto platform.
Bear markets are down and look bad, also called a dip.
Bull markets are up, optimism is high.
Decentralized ledger technology allowing for trust-less digital transactions.
Crypto asset specialized for use as currency.
Example: peer-to-peer transactions
Storing digital assets in hardware not connected to the internet. This is extremely safe if you trust your gear.
General term for many different types of digital assets.
Decentralized finance; term for modern banking: the main difference is the location of the data and mechanisms of power available.
Decentralized application; cloud based software that can be accessed from any device over the internet. login by connecting a wallet.
Digital market where the value of crypto assets are tracked, and can be bought or sold.
The act of harvesting yield. Typically generated from a type of staking.
Crypto asset specialized for powering smart contracts.
Government issued currency.
The type of voting mechanism available in a given system.
"Hold On for Dear Life". this whimsical term is commonly used to describe a typical long-term investment strategy.
Know Your Customer - Credentialing process required to create a wallet: much like starting a bank account.
these are matched pairings of coins, digitally bound together. Holders create and stake LPs to return for yield, or other benefits.
An active, live, running crypto network.
When an original token is generated; it has been minted. Buying an existing token is not minting it.
Non-fungible token. Unique tokens with trackable metadata that can't be deleted or copied.
This is the most important password, and the only way a wallet can be recovered from scratch. NEVER SHARE THIS
This is to be shared. The address (hash) can be used to send you the currency it is associated with. Often you also have to be on the correct network to send certain tokens.
When the controllers of a crypto project, or coordinated outside forces drive the price of the coin way up intentionally just to sell their investments right at the peak.
Piece of software running on a blockchain.
A crypto currency that tracks the value of a fiat currency.
Locking crypto assets into projects for a certain length of time in exchange for the offered rewards or perks.
A simulation used to test a crypto network before the main-net launch. Fuel is given free from a "faucet" for testing, these have no value besides for R&D.
Crypto asset specialized to have unchangeable intrinsic value.
General term for a digital account that stores crypto assets.
A user with a giant amount of crypto assets; so much that when they move their token around it causes noticeable market fluctuation.
Earning crypto in the form of APR or APY rewards from staking. APRs are set / APYs are traffic dependent.
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