blockchain
Although at the beginning of the creation of Bitcoin there was no talk of Blockchain but of Timechain, over time this word became popular and at certain times it was even talked about more than the original cryptocurrency itself. The blockchain is one of the components that makes up the technology that allows the Bitcoin network to function, as well as most other cryptocurrencies.
cryptocurrency
Shortly after the creation of Bitcoin, some developers thought that it might be a good idea to create other cryptocurrencies using the Bitcoin source code and so new projects began to be created that partially replicated the functionalities of the original and on the other hand introduced more or less new features. interesting.
Ethereum
It is the second most important cryptocurrency and decentralized network in the world, although as a currency it does not really fulfill that function of money and at a decentralization level it does not come close to what Bitcoin has achieved, it is true that Ethereum has been able to display a great deal of activity through level of innovation in testing new ideas, especially in decentralized finance and other areas that would have been difficult to test in Bitcoin due to its rigidity.
smart contract
Smart Contracts were the first great innovation of Ethereum, because although they had already been invented before, and could even be used in the Bitcoin network, DAO Development Company what Ethereum achieved was to facilitate their creation and above all to turn it into something very versatile that could offer a multitude of profits.
dApp
Decentralized applications is the name in which all those new utilities that are built on a decentralized blockchain are called, although as we have seen on many occasions these networks are not sufficiently decentralized to be able to grant them that characteristic. In any case, here we are talking about the entire ecosystem that has been generated once the necessary .
A good example of a dApp is the Brave browser that focuses on security and privacy, to also offer us a reward model based on its own cryptocurrency, if we use certain services or view advertising.
Exchange
Due to the fact that most of the dApps that make up this ecosystem use their own cryptocurrency to function, for example so that users can use the services they offer, it is necessary to be able to buy those cryptocurrencies or tokens and thus be able to start operating with it. And the way that has been established to be able to buy cryptocurrencies is through an exchange, which are online exchange houses where we can buy and sell these tokens, either to the exchange house itself or to other individuals.
As an example of a decentralized exchange, we find Bisq, which is specialized in Bitcoin and has a very important feature to preserve our privacy since it does not ask us for personal data in order to use it. On the other hand, if what we want is to acquire other tokens based on other networks, we can resort to Unisawp .
Wallet
A wallet is software that allows us to manage our cryptocurrencies, once we have bought them on an exchange and want to operate with them, for example to pay for certain products or services. Here it is important to know that the cryptocurrencies are not really stored in the wallet, but what we have are the private keys that allow us to access the management of the cryptocurrencies, since these only exist as a record in the blockchain of the corresponding dApp that creates and manages them.
DeFi
The DeFi conceptrefers to decentralized finance and although it can be said that almost everything we find in the crypto economy could be framed within this concept, the truth is that above all it is used for a series of services that come to replace those offered by entities financial, as is the case of loans between individuals. The important thing here is to note that all the services that can be offered within this category must serve to put individuals in direct contact, thus eliminating traditional intermediaries.
NFT
When we talk about NFT we refer to a type of Token called Non-Fungible, which means that there is no other token that is exactly the same as it, that is, it is unique. This is quite new when we talk about digital goods since we are used to the fact that everything can be replicated infinitely, an image, a movie, a song, a piece of software, everything is replicable just by sending it or sharing it with a person.
To see examples of NFTs, we can turn to marketplaces such as Opensea where creators of digital art and collectibles put them up for sale and other users can acquire them, either as a hobby or as an investment.
metaverse
the metaverses They are a new type of video game or virtual world where cryptocurrencies are used to carry out transactions, for example to have your own avatar, customize said avatar, buy land in the digital world or tools that can provide you with special functionalities within the game. These are games with a high social component where the users themselves can develop all kinds of initiatives through which to improve the experience of the rest of the participants and in this way an internal economy can be generated from which many can benefit.
DAO
Decentralization is the main differential element of all the technological initiatives that we are commenting on and it is what we should really reward when we decide to choose a certain initiative in the crypto world, in which we want to participate. This is because what is being proposed is a new Internet model where intermediaries are eliminated to reduce the problems that excessive concentration of power entails, as we are seeing, for example, in relation to the management of personal data by large parties. Tech companies like Facebook.
blockchain
Although at the beginning of the creation of Bitcoin there was no talk of Blockchain but of Timechain, over time this word became popular and at certain times it was even talked about more than the original cryptocurrency itself. The blockchain is one of the components that makes up the technology that allows the Bitcoin network to function, as well as most other cryptocurrencies.
cryptocurrency
Shortly after the creation of Bitcoin, some developers thought that it might be a good idea to create other cryptocurrencies using the Bitcoin source code and so new projects began to be created that partially replicated the functionalities of the original and on the other hand introduced more or less new features. interesting.
Ethereum
It is the second most important cryptocurrency and decentralized network in the world, although as a currency it does not really fulfill that function of money and at a decentralization level it does not come close to what Bitcoin has achieved, it is true that Ethereum has been able to display a great deal of activity through level of innovation in testing new ideas, especially in decentralized finance and other areas that would have been difficult to test in Bitcoin due to its rigidity.
smart contract
Smart Contracts were the first great innovation of Ethereum, because although they had already been invented before, and could even be used in the Bitcoin network, DAO Development Company what Ethereum achieved was to facilitate their creation and above all to turn it into something very versatile that could offer a multitude of profits.
dApp
Decentralized applications is the name in which all those new utilities that are built on a decentralized blockchain are called, although as we have seen on many occasions these networks are not sufficiently decentralized to be able to grant them that characteristic. In any case, here we are talking about the entire ecosystem that has been generated once the necessary .
A good example of a dApp is the Brave browser that focuses on security and privacy, to also offer us a reward model based on its own cryptocurrency, if we use certain services or view advertising.
Exchange
Due to the fact that most of the dApps that make up this ecosystem use their own cryptocurrency to function, for example so that users can use the services they offer, it is necessary to be able to buy those cryptocurrencies or tokens and thus be able to start operating with it. And the way that has been established to be able to buy cryptocurrencies is through an exchange, which are online exchange houses where we can buy and sell these tokens, either to the exchange house itself or to other individuals.
As an example of a decentralized exchange, we find Bisq, which is specialized in Bitcoin and has a very important feature to preserve our privacy since it does not ask us for personal data in order to use it. On the other hand, if what we want is to acquire other tokens based on other networks, we can resort to Unisawp .
Wallet
A wallet is software that allows us to manage our cryptocurrencies, once we have bought them on an exchange and want to operate with them, for example to pay for certain products or services. Here it is important to know that the cryptocurrencies are not really stored in the wallet, but what we have are the private keys that allow us to access the management of the cryptocurrencies, since these only exist as a record in the blockchain of the corresponding dApp that creates and manages them.
DeFi
The DeFi conceptrefers to decentralized finance and although it can be said that almost everything we find in the crypto economy could be framed within this concept, the truth is that above all it is used for a series of services that come to replace those offered by entities financial, as is the case of loans between individuals. The important thing here is to note that all the services that can be offered within this category must serve to put individuals in direct contact, thus eliminating traditional intermediaries.
NFT
When we talk about NFT we refer to a type of Token called Non-Fungible, which means that there is no other token that is exactly the same as it, that is, it is unique. This is quite new when we talk about digital goods since we are used to the fact that everything can be replicated infinitely, an image, a movie, a song, a piece of software, everything is replicable just by sending it or sharing it with a person.
To see examples of NFTs, we can turn to marketplaces such as Opensea where creators of digital art and collectibles put them up for sale and other users can acquire them, either as a hobby or as an investment.
metaverse
the metaverses They are a new type of video game or virtual world where cryptocurrencies are used to carry out transactions, for example to have your own avatar, customize said avatar, buy land in the digital world or tools that can provide you with special functionalities within the game. These are games with a high social component where the users themselves can develop all kinds of initiatives through which to improve the experience of the rest of the participants and in this way an internal economy can be generated from which many can benefit.
DAO
Decentralization is the main differential element of all the technological initiatives that we are commenting on and it is what we should really reward when we decide to choose a certain initiative in the crypto world, in which we want to participate. This is because what is being proposed is a new Internet model where intermediaries are eliminated to reduce the problems that excessive concentration of power entails, as we are seeing, for example, in relation to the management of personal data by large parties. Tech companies like Facebook.