SophiaLee

More people are using cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). However, newcomers may find the complexity of the crypto world intimidating. A cryptocurrency is comparable to other forms of money. The distinction is that cryptocurrency is decentralised and digital. It is "decentralized" if a central authority or government does not support it and is instead directly run by the users of the underlying technology.   The technology behind cryptocurrencies is called blockchain. Blockchain is a decentralized platform that keeps track of all network transactions. When someone gives Bitcoin to another person, a transaction record is stored in the public blockchain and is independently confirmed by many users.   Cryptocurrency transactions are kept secure, legitimate, and transparent because of this dual record-keeping. The identity of the people who participate in the transactions is kept confidential despite each transaction being recorded. In other words, anyone can ...

Although the technology has been around for a while, NFTs took off in 2020 and have been on the rise ever since, especially in digital art. NFTs have sparked a lot of interest but have also drawn criticism for being unstable, extremely speculative, and susceptible to fraud. In this, they examine the information you should know regarding NFTs.   What is a Crypto NFT? NFTs and cryptocurrencies have certain similarities, but they also differ significantly. The primary distinction is that whereas NFTs are non-fungible, cryptocurrencies are fungible due to their name. This means that while one Bitcoin, for instance, is equal to another Bitcoin, one NFT is not equivalent to another NFT. Every NFT asset is distinct, and market forces decide its price.    NFTs are tokens that are used to signify ownership of exclusive goods. Only one authorized owner may hold them at any time, and the Ethereum blockchain protects them. Nobody can alter the ownership record or copy and paste a new...