Ordinals–a new buzz word in the crypto space and one that garnered much attention in the past month. But what are Ordinals and how do they work? Ordinals is a new protocol deployed on Bitcoin to create non-fungible inscriptions on each Satoshi. Here’s how it works: Each Bitcoin has 100,000,000 smaller units called satoshis – abbreviated as […]
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“Decentralized Autonomous Organization“ This is what DAO stands for. To sum up what a DAO is in one sentence, I’d describe it as “A self-governing community utilizing smart-contract and blockchain automation to remove any centralized control.“ To grasp a full understanding of the workings behind these decentralized organizations, let’s dissect the foundations of a DAO.
The Problem Since the first mainstream iteration of blockchain in 2009 – Bitcoin – there has been a plethora of layer 1 blockchains launched with unique benefits and drawbacks. While the innovation and competition are fantastic, the current landscape of the crypto ecosystem is hindered from functioning at its maximum potential due to one key
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What Are Cross-Chain Bridges? With the explosion of various blockchain ecosystems in recent years, the issue that has risen to the surface is that most Blockchains aren’t interoperable, meaning they don’t work seamlessly together. In the current crypto world, there are many blockchains with different structures and features but previously there was no way to
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Decentralized Finance (DeFi) is the grouping of financial based blockchain applications that operate without any centralized control – such as a board, administration, or a third party. DeFi is the evolving peer-to-peer financial system that is open source, transparent, and permissionless. Now onto lending. What is lending? An individual or party loaning a sum of
The crypto industry prioritizes the seamless process of swapping digital assets. On any centralized exchange, it’s as easy as selecting an amount of coins you already own, and trading it for an equivalent amount in any cryptocurrency you wish. With the thriving volume of customers on centralized exchanges and simplicity of use that allows the
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We’ve run through liquidity pools and staking in recent weeks. Another useful tool in the world of DeFi is Yield Farming. The total value of DeFi jumped from $18.71 billion on January 1st 2021 to nearly $260.12 billion on the first of December later that year. With a majority of the leading DeFi protocols being
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What are Crypto Vaults? Since it’s still early in crypto, there are a few different applications where the term has been used. Crypto Vaults, as in the storage concept, is a more secure type of wallet. There are pros and cons to both wallets and vaults. A regular crypto wallet can make transactions whenever the
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Liquidity pools, often referred to as just “pools” are a unique concept in the crypto market aiding the trade of currencies. Pools are most often used when handling wallets and exchanging a currency for another. The concept of a pool is simple, people who hold crypto can earn rewards and help make it easier for
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