Mindblown: a blog about philosophy.
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What Crypto Storage Really Means
To understand what cryptocurrency storage really means, let’s look at what you are used to and draw some useful comparisons: Digital banking Access Tools Your banking App/online account are tools to access your money. They don’t actually store any money, but are a representation of the amount of money your bank holds on your behalf. …
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Store & Secure Cryptocurrency
As already described, cryptocurrency is a new type of money, and like any other money, your top priority is keeping it safe. With the money you are familiar with there are a couple of ways of looking after it. Look after it yourself Trust someone else to look after it on your behalf Option 1…
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How to use crypto
Storing & securing your crypto What you’ll learn How to store & secure your crypto What crypto storage really means What a Private key & Seed is Introduction to crypto wallets Cryptocurrency is a new form of internet money which you can spend and exchange like the money you are used to. It is also…
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Future of Smart Contracts
The use of Smart Contracts is almost certainly going to accelerate. They are fundamental to the promise of delivering what is described as web3.0, an internet experience where users control their data and identity and the value they create online. Their creation will become simplified for an increasing range of tasks that involve digital agreement and…
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Disadvantages of Smart Contracts
One of the most significant downsides to the decentralised Smart Contract model is that they will automatically execute whatever logic is coded into them. Given Smart Contract code is developed by humans who are prone to error, this frequently includes unintended vulnerabilities. Code vulnerabilities are made worse by the common practice of copying Smart Contracts…
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Benefits of Smart Contracts
Nick Sazbo, one of crypto’s OGs, summed up the function of Smart Contracts “I call these new contracts “smart”, because they are far more functional than their inanimate paper-based ancestors. No use of artificial intelligence is implied. A smart contract is a set of promises, specified in digital form, including protocols within which the parties…
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Smart Contract Use Cases
Ethereum’s Turing Complete design means that anyone can write a Smart Contract, there is no submission or vetting process. Smart Contracts can create their own rules and ownership structures. Given that Ethereum also supports token standards, it is a blank canvas for new permissionless methods of generating and exchanging value. Currencies & Token Systems The…
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How Smart Contracts work
Though inspired by Bitcoin, which functions as a new form of money, Ethereum was designed with much greater ambition. It provides a foundational layer for any digital application that can be reduced to mathematics, programmable money being just one use case, with Ether serving as Ethereum’s native currency. This capability is known as being ‘Turing…
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What are Smart Contracts?
What you’ll learn Expressed in computer code, Smart Contracts are how blockchains automatically execute an agreement between two parties without any intermediary. When the Smart Contract conditions are met, the supporting blockchain will execute the agreement for a fee, paid in the blockchain’s native cryptocurrency. The resulting transactions are cryptographically recorded on the blockchain and…
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The benefits of knowing without trying
Learn Crypto is dedicated to explaining basic concepts within cryptocurrency to people who are new to the subject. Given the level of potential risk leverage trading is something that really should be left to very experienced traders. You might think that reading this article is a waste of time; that is far from the truth.…
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