June 21, 2024
What are ERC-20 and other token standards?
TL;DR Token standards are the set of rules that tokens and smart contracts must comply with to be functional on a specific blockchain. On a basic level, knowledge of token standards is important for trading and moving your assets to ensure that you will be able to send them to the correct networks and use them for their intended purposes. On a more advanced level, token standards are what developers use as a framework for building their decentralized applications (dApps). What are token standards? For those just starting out in crypto, it can be quite intimidating to encounter technical-sounding […]
December 5, 2022
What is slippage?
TL;DR Slippage is a term used in the financial trading industry that describes the occurrence of having the price of a certain asset be different from what was originally expected. For example, if you place a buy order for a certain crypto at a given price, it’s possible that the price will change once the […]
October 6, 2022
What are gas fees?
TL;DR Gas fees are the payments charged by blockchain networks in order to complete transactions. These fees are a crucial component of the sustainability of a blockchain as they are used to pay miners and validators whose job is to secure the network by verifying and authenticating transactions. What are gas fees? Blockchains are decentralized […]
September 15, 2022
What is yield farming?
TL;DR Yield farming is a crypto investment strategy designed to earn passive income through various decentralized finance (DeFi) protocols such as lending and providing liquidity, often “stacking” different protocols together to maximize returns. What is yield farming? More often, people think getting into cryptocurrency means one has to either engage in active trading or to just […]
August 31, 2022
What is a DAO?
TL;DR A decentralized autonomous organization (DAO) is an emerging blockchain-based organizational structure with no central leadership or hierarchy. This means that the power to make decisions and approve policies is distributed across the organization’s members. The structure takes a bottom-up approach to management and decision-making by allowing the members to vote through governance rules enforced […]
August 31, 2022
What are wrapped tokens?
TL;DR Wrapped tokens are cryptocurrencies that can represent another token outside of its native blockchain. This allows owners to use their tokens on platforms and applications that may not exist in their original network. Wrapped tokens were developed specifically to address the issue of interoperability between differently coded blockchain networks. What is a wrapped […]
August 1, 2022
What is DeFi?
TL;DR Decentralized finance or “DeFi” is an emerging technological innovation in the world of blockchain and cryptocurrency. It seeks to make basic financial products and services such as loans, savings accounts, and investments more accessible to the public. What is DeFi? There are many problems surrounding modern financial systems, especially in developing countries where such services may […]
July 13, 2022
What is tokenomics and why should we study it?
TL;DR Tokenomics is the study of the supply and demand patterns and market characteristics of a cryptocurrency. Serious crypto investors study tokenomics to understand the factors that impact the value of a specific token in order to develop an effective investment strategy around it. What is tokenomics? The term “tokenomics” is a mashup of […]
August 2, 2002
What is Web 3.0?
TL;DR Web 3.0 refers to the broad range of innovations that will define the next generation of the Internet. It is envisioned to be a more decentralized version of today’s Internet that places the power of creation back into the hands of artists, entrepreneurs, and thought leaders. With the use of blockchain technology, creation platforms will now be run and maintained by independent users as opposed to single entities and corporations. What is Web 3.0? Web 3.0 is positioned to be the third iteration of the Internet as we know it. This next-generation network will be a data-driven system […]