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Showing posts from August, 2021

What Is the Difference Between Coin and Token?

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People may confuse about the concept between "coins" and "tokens", somebody even uses either name to refer to all the digital assets. However, there is a fundamental difference between the two terms. It is vital for us to know the difference between them. What Is a Digital Asset? There are three terms "digital assets", "cryptocurrencies(coins)", and "tokens", which refer to different concepts in the crypto world, it's essential for us to understand the difference between them. Generally, a digital asset is an invisible asset(without physical shape) that is created, traded, and stored in a digital way. As for blockchain, digital assets include cryptocurrency (coins) and crypto tokens. They are all base on the technology of cryptography that assures security, eradicates the possibility of counterfeiting or double-spending. What Is a Coin? Coins refer to any cryptocurrency that has a standalone, independent blockchain, which means they

What Is a Stablecoin? What Is the Best Stablecoin?

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  What Is a Stablecoin? A stablecoin is a new type of cryptocurrency that offers price stability, fixed value, and is backed by a reserve asset. Generally, most cryptocurrencies are quite volatile, because they're decentralized and not related to any government or organizations and the prices depend on supply and demand in the market. In contrast, to realize the security and privacy of payments of cryptocurrencies, and volatility-free stable valuations, stablecoin is usually backed by fiat, commodity, crypto, or algorithmic (not backed). How Many Categories of Stablecoin? Fiat-Collateralized stablecoins: They are off-chain assets that are backed 1:1 by fiat currency. They can be traded on exchanges and are redeemable from the issuer. Some examples of Fiat-Collateralized stablecoins: TrueUSD (TUSD), USD Tether (USDT), USD Coin, Diem Commodity-Collateralized stablecoins: They are off-chain assets that are back by commodities such as oil and gold. They are redeemable for such (more or

What Is Ethereum?

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Intruction Ethereum is a decentralized computing platform. Through Ethereum, a centralized server will be replaced by nodes run by thousands of volunteers around the world, which is fully decentralized. It is an open-source, public platform based on blockchain technology, which allows users to build and deploys decentralized applications on the platform using smart contracts. Through its proprietary cryptocurrency, Ether, the Ethereum network provides decentralized virtual machines (Ethereum Virtual Machine) to handle peer-to-peer contracts. Ethereum was first proposed in late 2013 and then brought to life in 2014 by Vitalik Buterin, who at the time was the co-founder of Bitcoin Magazine. Inspired by Bitcoin, Vitalik Buterin proposed to build a "next-generation cryptocurrency and decentralized application platform" and developed it through Initial Coin Offering. He aims to find out whether blockchain technology has other effective uses beyond Bitcoin's design limitations.

What Is CeFi?

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Introduction When people talk about digital cryptocurrency, we may face cryptocurrency investment. The major players of cryptocurrency financial investment can be grouped into two broad categories, CeFi and DeFi, which stand for Centralised Finance and Decentralised Finance. One of the core philosophies of cryptocurrency is decentralization, which means no agencies in the middle but people can complete transactions directly between each other. "DeFi" is designed based on this philosophy, utilize smark contract, people can lend, earn, save, trade without any agencies, for example, banks in the middle. However, with the features of smart contracts, it may come with certain risks, such as investors may lose money because of the bugs of codes, get cheated by malicious actors. Moreover, people need to know some knowledge of cryptocurrency technology before taking part in DeFi. "CeFi", opposite concept to "DeFi", combines some attributes of DeFi, such as yield b

What Is DeFi?

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  Introduction Defi stands for Decentralized Finance, a financial application ecosystem built on a blockchain network. In other words, DeFi establishes an open-source and transparent financial system that provides financial services to everyone without central authorities. It creates entirely new financial markets, products, and services. More specifically, the traditional financial system is controlled by central authorities such as the government and banks. They control the flow of funds and provide most of the financial services. For example, money transfers, savings plans, insurance and the stock markets. The traditional financial system was built on the trust of investors. However, the centralized financial system (or CeFi for short) has its own risks, such as mismanagement, fraud and corruption. It has the potential to collapse from the center and it is quite expensive. The alternative is decentralized finance that does not have a central authority. They are open and trustworthy

What Is a Non-Fungible Token (NFT)?

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Introduction  NTFs are exploding in popularity. In the music field, the Kings of Leon releasing an NFT-only album. In the social media field, Jack Dorsey's first Twitter Sellin for nearly $3 million. But what is a NTF? A non-Fungible Token is a virtual asset based on blockchain technology, representing something unique and collectible. In order to better understand NFT, you can start with the word fungible. Fungible means something that something can be exchanged or replaced, and has the same value in the exchange process. Fungible assets include interchangeable assets such as dollars, gold, oil, and Bitcoin. For instance, if someone lends you $10 in cash and you return two $5 banknotes, the transaction is acceptable as the items in the transaction hold the same total value. Therefore, by contrast, non-fungible represents something irreplaceable and has unique properties that make it different from other things, such as painting, video game skins, or a crypto kitty which is the fir

How to Set up Your First Wallet?

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According to the type of wallets you chose for storing cryptocurrency, the method of set up your first wallet is different. The setup guides for each type of wallet is as follow: Hot wallet Custodial Wallet The most common custodial wallet is an exchange wallet, which means keeping your assets on the exchange. Most people using exchange for the first purchase of cryptocurrency, the exchange will create a wallet for you automatically when you made the purchase. You don't need to do anything to create an exchange wallet at all. After creating an exchange account, you may find Total Balances on the  Balance  pages and you can deposits, withdraw, or transfer on a certain page of the exchange. In a way, the  Balance  page is similar to a traditional wallet interface. Non-custodial Wallet: There are various types of non-custodial wallets. However, the general setup methods are similar. If you want to use a single-asset wallet, for example, a bitcoin wallet, you can get the program from t

New version of CoinCarp

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Today, we are excited to be officially launching a Chinese version of our website. CoinCarp is trying to be the world's leading cryptocurrency market data provider. 今天,我们非常激动的宣布中文版本网页已经上线。CoinCarp在努力成为全球领先的加密货币市场数据提供商。

LiquidGlobal Warm Wallets are compromised

Important notice from Liquid Global Official: The LiquidGlobal warm wallets are compromised and they are moving assets into the cold wallet and currently investigating and will provide regular updates. In the meantime, deposits and withdrawals will be suspended temporarily. The assets had been transferred to hacker's following addresses (Further investigation to come): BTC: 1Fx1bhbCwp5LU2gHxfRNiSHi1QSHwZLf7q ETH/EWT: 0x5578840aae68682a9779623fa9e8714802b59946 TRX: TSpcue3bDfZNTP1CutrRrDxRPeEvWhuXbp XRP: rfapBqj7rUkGju7oHTwBwhEyXgwkEM4yby reference on  CoinCarp

What Is Cryptocurrency?

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Introduction In short, a cryptocurrency is a form of digital or virtual currency that enables individuals to transmit value in a digital setting. It is a medium of exchange. The Development of Cryptocurrency Currency has always been a very essential part of people's lives. In the ancient era, people used the barter system to exchange goods and services with each other. However, due to the obvious shortcomings of the barter system, such as the inconsistency of demand and supply, it was eliminated. For instance, if you have five apples, and your friend has five oranges. You want some oranges, but unless your friend has a demand for the apples you own, you cannot exchange with him. In addition, not all goods can be subdivided or are easy to transport. In essence, the barter exchange system does not have a common value measurement standard that can be used to measure the value of commodities. After realizing that the barter system could not meet people's requirements, some adjustme