Mindblown: a blog about philosophy.
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What are the risks of DEFI?
What you’ll learn : What does DEFI stand for in crypto? What is DEFI and how does it work? What are the types of DEFI risks? Are the risks worth it? DEFI gives anyone with an internet connection and a supported cryptocurrency wallet access to financial services previously off-limits or restricted by KYC. Centralised intermediaries…
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Crypto Token Standards for Other Blockchains
Though Ethereum established the concept of a Turin Complete computational blockchain, it wasn’t long before other chains emerged, often looking to emulate, and improve on, its use of Smart Contracts while applying token standards that are very similar. Tezos Token Standards The Tezos blockchain offers Smart Contract functionality but is designed to provide a more…
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Ethereum security token standards
Ethereum token standards have improved and evolved to match new use cases. For example, ERC-1400 provides a library of standards allowing tokens to function as securities. ERC-1400 Security Token Standard Most people would understand the term security in reference to a stock or share in a company. ERC-1400 creates a standard way to tokenise securities…
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What are NFT token standards?
The other most common Ethereum token standard provides the opposite utility to a fungible token. It creates a form of value that isn’t interchangeable but is unique, a Non-Fungible Token aka an NFT. You would have to be living off-grid not to have heard mention of NFTs. NFTs function as receipts of ownership for things…
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Types of token standards?
Ethereum provides a token standards list described in ERC format and a number. ERC stands for Ethereum Request for Comment and refers to a technical document that blockchain developers can reference when writing Smart Contracts and building dApps. The ERC-20 Standard The most common Ethereum token standard is ERC-20. This set of guidelines allows developers…
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Why token standards are essential to adoption
Ethereum provides a computational engine for any idea that can be reduced to mathematics, leaving developers free to be imaginative in building dApps. Ethereum doesn’t enforce rules on those that use it, like Google’s Playstore or Apple’s App Store, and includes its currency, Ether, used as a medium of exchange within a dApp and a…
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What are token standards?
What you’ll learn : 1. Why token standards are essential for cryptocurrency 2. The ERC-20 token standard 3. How do NFTs come into it? 4. What other types of token standards are out there? A globally connected world is only possible with the adoption of shared standards. This can mean how we measure and weigh things,…
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Is crypto yield farming safe?
We’ve already highlighted the yield farming risks that come from crypto’s volatility and how that impacts the dynamic returns and the dangers of impermament loss. There is another dimension to safety that relates to being scammed or hacked. Given the huge popularity of yield farming and the willingness of so-called crypto degens to take in…
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Is crypto yield farming profitable?
Yield farming crypto can be profitable, but it depends on how you measure the gains. Most crypto investors measure returns in fiat. Given that crypto is so volatile, you might make a decent return from Yield Farming measured in percentage return that is a loss in fiat terms. This can simply be because of changes…
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Best yield farming crypto
People are attracted to DEFI because they want to grow their funds and naturally want to know the best yield farming cryptocurrencies and available strategies. These are the wrong questions to ask. You need to start by thinking about how much risk you are prepared to take, how much research you are willing to do…
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