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…Dai is backed by collateralised assets, which is composed of other cryptocurrencies held within smart contracts every time new DAi is minted. A brief history of DaiCreated in December 2017 by decentralised autonomous organisation MakerDAO and crypto lending platform Maker Protocol. The current iteration of DAI was created in December 2019, replacing its previous stablecoin iteration known as the Single Collateral Dai (SAI).How Dai worksWhen the current iteration of DAI was released in 2019, it w…
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…Metadata A succinct definition of Metadata MetadataLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYMETADATACopy linkShare on TwitterShare on FacebookShare on LinkedinMetadata‘Metadata’ refers to data that provides information about other data within a blockchain network, which includes various types of supplementary information that helps describe, manage, and track the primary data (transactions, blocks, user information, smart contracts, etc.).For transactions, metadata pr…
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…Many scammers promote fraudulent investment opportunities, as well, including fake initial coin offerings (ICOs) or exclusive pre-sales that simply disappear with investors’ funds. More technically sophisticated attackers trick users into connecting their wallets to malicious decentralised applications (dapps) or approving dangerous smart contract interactions that drain their accounts. Some go deeper, targeting developers and treasury managers with social engineering, putting entire decentr…
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…Flare is a decentralized currency, which means you can buy, sell, and exchange it without having to rely on traditional monetary systems.What is Flare (FLR)?Flare is a layer-1 blockchain that brings smart contract functionality to assets that do not natively support it, such as Bitcoin, XRP, and Dogecoin. Designed to enable cross-chain interoperability and decentralized data access, Flare expands the capabilities of existing blockchains by making them compatible with DeFi, NFTs, and other on-cha…
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…Developers use its Layer 1 blockchain for smart contracts, while institutions and businesses utilize it for payments, asset issuance, and cross-border transactions. The Algorand network is carbon-neutral, highlighting its commitment to sustainability. Unlike Bitcoin, Algorand has no fixed supply cap. Its network is continually updated to improve performance and expand functionality. As smart contract capabilities and interoperability evolve, they drive increased adoption across various industri…
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…Chainlink is a decentralized currency, which means you can buy, sell, and exchange it without having to rely on traditional monetary systems.What is Chainlink?Chainlink (LINK) was launched in 2017 by Sergey Nazarov to solve the oracle problem, ensuring that smart contracts can securely connect with off-chain data without relying on centralized entities. It’s an ERC-20 token that node operators use to participate in the network, providing accurate, tamper-proof data, and securing Chainlink’s …
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…Ticketing and Access Control Event ticketing suffers from issues like scalping, counterfeiting, and fraud, but with NFT tickets, event organisers can set resale rules like price caps or creator royalties through smart contracts. They cap secondary market prices and ensure original creators receive royalties from subsequent sales. NFT tickets are also collectible, and fans keep these tickets as digital souvenirs. Artists like Kings of Leon have dropped albums with NFT perks like lifetime front-ro…
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…Internet Computer is a decentralized currency, which means you can buy, sell, and exchange it without having to rely on traditional monetary systems.What is Internet Computer (ICP)?Internet Computer (ICP) is a decentralized layer-1 blockchain designed to extend the public internet’s capabilities by hosting backend software, smart contracts, and web applications directly on-chain. Developed by the DFINITY Foundation, it enables developers to build and deploy dApps at internet scale, without rel…
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…Some notable examples include: Ethereum (ETH): The second-largest cryptocurrency by market capitalisation, Ethereum is a platform for building decentralised applications (dapps) using smart contracts.Litecoin (LTC): Considered by some as the ‘silver’ to Bitcoin’s ‘gold’, Litecoin was designed to have faster transaction speeds and a larger maximum supply than Bitcoin.Chainlink (LINK): A decentralised oracle network, Chainlink connects smart contracts to off-chain data and services.Unisw…
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…Stacks is a decentralized currency, which means you can buy, sell, and exchange it without having to rely on traditional monetary systems.What is Stacks (STX)?Stacks (STX) is the native token of the Stacks blockchain, a layer-1 network that brings smart contracts and decentralized applications (dApps) to Bitcoin. Unlike other blockchains that operate independently, Stacks is uniquely designed to extend Bitcoin’s functionality without altering its core protocol — enabling developers to build …
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