CryptotherapyAU

Crypto and blockchain education
Simplifying the complexity of cryptocurrencies and blockchain technology

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@coingecko Azero!

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what is everyone's thoughts on Bitcoin Ordinals?

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Breaking down crypto jargon: Smart contracts

A smart contract is a digital contract that allows for more complex transactions to take place on a blockchain. It's a series of "IFs" and "WHENs" that are written into computer code.

If you do 5 push-ups, then I will give you $10

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@KulkenX what a time it was

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@takegreenpill or learn the hard way

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@BNBCHAIN DeFi!

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Why does this matter?

This matters because now we can create complex features such as apps, financial services, security and more using a blockchain.

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What is Ethereum (ETH)?

In a nutshell: Ethereum is like Bitcoin (BTC) but while BTC just tracks the ownership of their coins, Ethereum uses the same technology to track the ownership of any digital item registered on their blockchain!

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What is Ether?
Ether is the currency that is used to make the Ethereum network function. Those who work to keep the blockchain running are rewarded with Ether. Those using the Ethereum blockchain will need to pay in Ether.

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Some examples of the most popular cryptocurrencies include

Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Bincance coin (BNB)
Ripple (XRP)
Cardano (ADA)

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What is Cryptocurrency?

In a nutshell, a cryptocurrency is a digital form of money that uses blockchain technology (explained in previous post) to track who owns each coin.

This allows us to use digital coins with the same safety and security as real physical coins!

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Why does this matter?
Cryptocurrencies don't require a bank to facilitate transactions, we manage the blockchain ourselves. This allows for significantly faster and cheaper transactions globally. Now we can safely and reliably trade and purchase items over the internet.

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Why does this matter?
This matters because Bitcoin was the first blockchain-based currency to be created.

As the technology is completely open for anyone to view, Bitcoin started the cryptocurrency revolution that followed!

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What is Bitcoin (BTC)

In a nutshell, Bitcoin (BTC) is a digital currency that can be sent and received over the internet. Bitcoin operates without any central control, such as a bank or government.

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Bitcoin's technology (blockchain) is completely "open-sourced" meaning anyone can view it.

The creator(s) believed that if everyone has access to the blueprints, great ideas can flourish.

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