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Cryptocurrencies, Digital Dollars, and the Future of Money

Interesting fact: not many people know that Ethereum is actually not a cryptocurrency, but an ecosystem for creating tokens and the native token of this ecosystem is called Ether. To make it easier to navigate, we take Ether with Ethereum as one.

The native token is the control token of the ecosystem. In other words, it is the token in which all deposit and withdrawal fees, rewards, and other elements of the service are paid. Tokenization is the creation of a token, the value of the token depends on the value of the item to which it is linked.

Stablecoin is a tokenized fiat currency, mostly tied to the value of the U.S. dollar. The most common examples are Tether (USDT), Binance USD (BUSD), USD Coin (USDC), Dai (DAI), TerraUSD (UST), Pax Dollar (USDP), TrueUSD (TUSD) and others. A private key is the user's primary password to the crypto-purse. This key is generated according to certain algorithms, from which pairs of private and public keys are also created. The seed phrase is a "human-readable" alternative to the private key. This phrase consists of 12, 16 or 24 English words, which are taken from a specific vocabulary, if followed consistently can recover the private key..

01-10-2023 04:31:53 PM

What is Cryptocurrency? What should Investors know

Since the creation of Bitcoin in 2009, cryptocurrencies have exploded in popularity and are today collectively worth over $1 trillion.

In the span of a few years, cryptocurrencies have grown from digital novelties to trillion-dollar technologies with the potential to disrupt the global financial system.

Bitcoin and hundreds of other cryptocurrencies are increasingly held as investments and used as currencies to buy a swath of goods and services, such as software, digital real estate etc

07-16-2021 11:48:03 AM