A clip from: An Investor’s Perspective on the Most Valuable Use Case of Cryptocurrency -S1E2.
What is the most valuable use case of crypto? Is a distributed database secure? Why will one use case excel above all others? Please enjoy!
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Welcome to coinSense, where we decrypt crypto and demystify blockchain technology, DAG, and hashgraph – revolutionizing how we perceive value, utility, money, and data security. We explain consensus mechanisms, governance models, Decentralized Finance (DeFi), smart contracts, dApps, PoS, PoW, L0, L1, and L2 in the world of cryptocurrencies and digital assets.
Come explore the cryptocurrency fundamentals of Bitcoin (BTC), Ethereum (ETH), the best altcoins, NFT, SFT, coins and tokens. Unravel their unique features, use cases, competitive advantages, pros and cons, and delve into their technical white papers.
What is cryptocurrency? One of the essential elements to understanding digital currency is grasping the concepts of fungibility and non-fungibility. While privacy coins like Monero (XMR) are fungible, meaning each unit is interchangeable with another, Non-Fungible Tokens (NFTs) are unique and represent ownership of specific digital assets. They are often used in the gaming and art industries, alongside Semi-fungible tokens (SFTs).
What is crypto mining? One crucial aspect of virtual currencies is consensus, the process by which the network validates and confirms transactions. Popular consensus mechanisms include Proof of Work (PoW), employed by Dogecoin (DOGE) and Litecoin (LTC), and Proof of Stake (PoS), used by Binance Smart Chain (BNB), Cardano (ADA), Solana (SOL), and other native coins. While Proof-of-Work relies on miners solving complex mathematical puzzles to validate transactions and record them across multiple nodes on the distributed ledger, Proof-of-Stake validators are chosen based on the number of virtual coins they ‘stake’ as collateral.
coinSense provides clarity on block chain and crypto technology, such as directed acyclic graph hash graph, and metaverse advancements. We define concepts such as double spend, fork, gas, stablecoin, altcoin, mining, on-chain, Initial Coin Offering (ICO), market capitalization, layer 0, layer 1, layer 2, and layer 3 crypto assets.
What is programmable money? In recent years, the rise of DeFi has been transforming the financial industry, allowing the general public to access financial services and transfer value without intermediaries. DeFi platforms offer a wide array of services, including lending, borrowing, and trading, all governed by smartcontracts – self-executing protocols with predefined rules. These Decentralized Applications (dApp) are open-source and accessible to anyone, ensuring financial inclusion and transparency, pending regulation.
What are blockchain layers? With new alt coins emerging, we dive into different layer solutions: layer zero – an interoperable security hub layer to host native blockchains; layer one – the main blockchain protocol layer for token deployment; layer two – a scaling layer to enable faster and more cost-effective transactions, and layer three (L3) – application layer for dApps and DeFi (some cross-chain functionality).
Virtual currencies exist on decentralized networks, secured by cutting-edge cryptography to ensure that no single entity can control the entire network, making digital coins resistant to manipulation and censorship.
coinSense reviews the best crypto exchanges, top crypto wallets, best hardware devices, and explores the innovative technology, project whitepapers, and comparisons within this emerging asset class.
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Disclaimer 👉 see first 20 seconds of video
Caution 👉 This video contains the personal opinions of the sender, who is not an advisor. The digital asset class carries inherent risks; please consult your local advisors before exposing your capital to these risks. coinSense will never initiate unsolicited contact with you, and anyone who does so is an impersonator.
