Crypto
3 min read
All About Crypto and Blockchain
The exploration of Crypto coins and tokens
The exploration of Crypto coins and tokens
The exploration of Crypto coins and tokens
To fully understand the evolution of internet or Web3, it’s important that we understand the concept of Cryptocurrency.
Most of cryptocurrency uses Blockchain technology.
Think of Blockchain as a digital record-keeping system kung saan numerous computers own a copy of the same record.
So when one creates a new transaction, it will automatically add on to the “blocks” creating a chain of records. These records are hard to change since they are systematized.
Sa Crypto, we often encounter the words “coins” and “tokens” pero are they the same thing or are they different?
Coins are the building blocks of cryptocurrency,
enabling an entire system of digital money to function.
Examples are Bitcoin and Ethereum.
Ang tokens ay designed para
mag-provide ng special access sa special products at services.
Put simply, ang
Coins ay parang currency tulad ng peso o dollar na ginagamit sa payments.
Ang Tokens naman ay parang
vouchers o coupons.
So, ano ang NativeCoins?
These coins are basically the cryptocurrencies developed and operating in their own set of blockchain networks.
Example: Gusto mo magsend through the Bitcoin blockchain network to another person, then you
need to send them Bitcoin—the native cryptocurrency of the Bitcoin network.
Need stability? Stablecoins ang need mo!
Examples: Tether (USDT) and USD Coin (USDC), which are a 1:1 representation of the USD dollar.
These coins prioritize the privacy of the user by keeping the sender or receiver unknown while still securing the transaction.
Some examples are Monero (XMR) and Zcash (ZEC).
These tokens allow you to
gain access sa mga specific products at services within the blockchain.
Isipin mo na para kang nasa arcade - kailangan mo munang bumili ng arcade tokens para ma-enjoy mo ang mga games!
One of the famous in-game tokens is
Smooth Love Potion (SLP).
From the word itself, you can govern or have the right sa direksyon ng isang project.
It’s like being a
shareholder sa isang company and you have voting rights
about the future plans or projects ng company.
