{"version":"https://jsonfeed.org/version/1.1","title":"Stephen Ajulu","home_page_url":"https://ajulu.netlify.app/","feed_url":"https://ajulu.netlify.app/tags/decentralized/feed.json","description":"Hello, I'm Stephen Ajulu, a seasoned multidisciplinary tech professional with over a decade of experience. I build impactful solutions using design, tech, and engineering in the pursuit of impact.","icon":"https://ajulu.netlify.app/images/me.jpg","authors":[{"name":"Stephen Ajulu","url":"https://stephenajulu.com","avatar":"https://ajulu.netlify.app/images/me.jpg"}],"items":[{"id":"https://ajulu.netlify.app/posts/top-gamefi-games-right-now/","url":"https://ajulu.netlify.app/posts/top-gamefi-games-right-now/","title":"Top GameFi Games Right Now","summary":"For players looking to get involved in these blockchain-based games and start earning cryptocurrency and NFTs, here is a breakdown of some of the leading games currently available.\nAlien Worlds In this game, players join an alien universe consisting of several planets where they must fight for scarce resources and mine the game’s native cryptocurrency, trillium (TLM). Players can also battle each other, go on quests and earn additional income by renting out their land to others.\n","content_html":"\u003cp\u003eFor players looking to get involved in these blockchain-based games and start earning cryptocurrency and NFTs, here is a breakdown of some of the leading\u003ca href=\"https://dappradar.com/rankings/category/games\"\u003e games\u003c/a\u003e currently available.\u003c/p\u003e\n\u003ch3 id=\"alien-worlds\"\u003eAlien Worlds\u003c/h3\u003e\n\u003cp\u003eIn this game, players join an alien universe consisting of several planets where they must fight for scarce resources and mine the game’s native cryptocurrency, trillium (TLM). Players can also battle each other, go on quests and earn additional income by renting out their land to others.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://alienworlds.io/\"\u003eAlien Worlds\u003c/a\u003e was the first game to \u003ca href=\"https://www.coindesk.com/inside-alien-worlds-the-biggest-game-in-the-metaverse\"\u003ebreak through 100,000 users\u003c/a\u003e and currently boasts over 2.5 million players. This was, in part, due to its free-to-play nature and the fact its metaverse world spans multiple blockchains including WAX, Ethereum, and Binance Smart Chain.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eNative crypto token:\u003c/strong\u003e \u003ca href=\"https://coinmarketcap.com/currencies/alien-worlds/\"\u003etrilium (TLM)\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBlockchains:\u003c/strong\u003e Native WAX blockchain, but also runs off Ethereum and Binance Smart Chain (BSC)\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eMonthly user base:\u003c/strong\u003e \u003ca href=\"https://dappradar.com/wax/games/alien-worlds\"\u003e1,000,000\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eThe initial investment required:\u003c/strong\u003e You are required to buy NFT game cards such as land in order to mine.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"cryptoblades\"\u003eCryptoBlades\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://www.cryptoblades.io/\"\u003eCryptoBlades\u003c/a\u003e is a web-based role-playing game that emulates traditional games like Skyrim or Dark Souls. Players can battle monsters or complete in-game raids to earn SKILL tokens. To help with battles, players can craft weapons to build an advantage over their opponents or boost their power. These items can then be traded in an open marketplace.\u003c/p\u003e\n\u003cp\u003eThe gameplay itself is straightforward. There are four main components – fire, earth, lightning, and water – allocated to each character, weapon, attribute, and enemy. Each component will have its strengths and weaknesses, which players must then utilize and build strategies to beat their opponents.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eNative crypto token:\u003c/strong\u003e \u003ca href=\"https://coinmarketcap.com/currencies/cryptoblades/\"\u003e\u003cstrong\u003ec\u003c/strong\u003eryptoblades (SKILL)\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBlockchain:\u003c/strong\u003e Binance Smart Chain\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eMonthly user base:\u003c/strong\u003e \u003ca href=\"https://dappradar.com/binance-smart-chain/games/cryptoblades-1\"\u003e510,000\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eThe initial investment required:\u003c/strong\u003e Users will need to purchase around 0.2 BNB to play and pay for transaction fees in-game.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"axie-infinity\"\u003eAxie Infinity\u003c/h3\u003e\n\u003cp\u003eA Pokemon-inspired universe where you can buy, take care of, breed, and trade digital monsters called \u003ca href=\"https://axieinfinity.com/\"\u003e“Axies\u003c/a\u003e.” Axie Infinity runs off its own specifically built sidechain so that it can optimize gameplay and scale effectively.\u003c/p\u003e\n\u003cp\u003eThe game has a high earning potential but requires high involvement to breed, care for and trade rare or unique Axies. These monsters can battle each other to earn SLP tokens or be sent on quests for resource farming.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eNative token:\u003c/strong\u003e \u003ca href=\"https://coinmarketcap.com/currencies/axie-infinity/\"\u003eaxie infinity (AXS)\u003c/a\u003e and \u003ca href=\"https://coinmarketcap.com/currencies/smooth-love-potion/\"\u003esmooth love potion (SLP)\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBlockchain:\u003c/strong\u003e Ethereum\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eMonthly user base:\u003c/strong\u003e \u003ca href=\"https://dappradar.com/ethereum/games/axie-infinity\"\u003e308,000\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eThe initial investment required:\u003c/strong\u003e You need to purchase three Axies from the in-house marketplace before you can play.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"upland\"\u003eUpland\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://www.upland.me/\"\u003eUpland\u003c/a\u003e is an NFT metaverse made to parallel our world where players can buy, sell and trade properties linked to real-world addresses. Users can then play, run businesses and connect with other Uplanders across the world.\u003c/p\u003e\n\u003cp\u003ePlayers have an Upland avatar that can roam throughout a city to look for available properties for purchase. Or they can visit other players’ properties. To earn special UPX rewards and increase a property’s earnings, users can complete a Collection. This is similar to Monopoly; the more properties you have of a single color, the more valuable they are.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eNative token:\u003c/strong\u003e \u003ca href=\"https://coinmarketcap.com/currencies/upland/\"\u003eupland (UPX)\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBlockchain:\u003c/strong\u003e EOS\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eMonthly user base:\u003c/strong\u003e \u003ca href=\"https://dappradar.com/eos/games/upland\"\u003e155,000\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eThe initial investment required:\u003c/strong\u003e To open an account, you need to first purchase a virtual property.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"splinterlands\"\u003eSplinterlands\u003c/h3\u003e\n\u003cp\u003eThis is a \u003ca href=\"https://splinterlands.com/\"\u003edigital collectible card game\u003c/a\u003e where players build up a collection of cards with various abilities and stats and use them to battle other players. Each card is represented by an NFT and is tradable or can be exchanged on the open market. The game relies on one-on-one fighting where players are randomly assigned battle parameters.\u003c/p\u003e\n\u003cp\u003eBoth players then have a limited amount of time to build a deck of cards they will use to fight each other.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eNative token:\u003c/strong\u003e \u003ca href=\"https://coinmarketcap.com/currencies/dark-energy-crystals/\"\u003edark energy crystals (DEC)\u003c/a\u003e and \u003ca href=\"https://coinmarketcap.com/currencies/splinterlands/\"\u003esplintershards (SPS)\u003c/a\u003e, which is the governance token\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBlockchain:\u003c/strong\u003e Hive blockchain\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eMonthly user base:\u003c/strong\u003e \u003ca href=\"https://dappradar.com/hive/games/splinterlands\"\u003e120,000\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eThe initial investment required:\u003c/strong\u003e You must buy the summoner’s spellbook for $10 if you want to unlock the play-to-earn features and receive DEC tokens.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eSource: \u003ca href=\"https://www.coindesk.com/learn/gamefi-how-to-earn-crypto-playing-games-online/\"\u003eCoinDesk\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-09T16:40:00+03:00","image":"https://ajulu.netlify.app/images/610c1dd3ee4ef2b5089f768e_playtoearn.jpeg","tags":["gamefi","computer games","game finance","crypto","cryptocurrencies","cryptocurrency","play to earn","play 2 earn","free crypto","games","gaming","nft","nfts","defi","binance","binance smart chain","binance coin","metaverse","gameplay","gaming","online gaming","earn","game","decentralized","ethereum"]},{"id":"https://ajulu.netlify.app/posts/applications-and-use-cases-of-blockchain-technology/","url":"https://ajulu.netlify.app/posts/applications-and-use-cases-of-blockchain-technology/","title":"Applications and Use Cases of Blockchain Technology","summary":"1. Money transfers The original concept behind the invention of blockchain technology is still a great application. Money transfers using blockchain can be less expensive and faster than using existing money transfer services. This is especially true of cross-border transactions, which are often slow and expensive. Even in the modern U.S. financial system, money transfers between accounts can take days, while a blockchain transaction takes minutes.\n2. Financial exchanges Many companies have popped up over the past few years offering decentralized cryptocurrency exchanges. Using blockchain for exchanges allows for faster and less expensive transactions. Moreover, a decentralized exchange doesn\u0026rsquo;t require investors to deposit their assets with the centralized authority, which means they maintain greater control and security. While blockchain-based exchanges primarily deal in cryptocurrency, the concept could be applied to more traditional investments as well.\n","content_html":"\u003ch3 id=\"1-money-transfers\"\u003e\u003cstrong\u003e1. Money transfers\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe original concept behind the invention of \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain technology\u003c/a\u003e is still a great application. Money transfers using \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e can be less expensive and faster than using existing money transfer services. This is especially true of cross-border transactions, which are often slow and expensive. Even in the modern U.S. financial system, money transfers between accounts can take days, while a blockchain transaction takes minutes.\u003c/p\u003e\n\u003ch3 id=\"2-financial-exchanges\"\u003e\u003cstrong\u003e2. Financial exchanges\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eMany companies have popped up over the past few years offering decentralized cryptocurrency exchanges. Using \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e for exchanges allows for faster and less expensive transactions. Moreover, a \u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003edecentralized exchange\u003c/a\u003e doesn\u0026rsquo;t require investors to deposit their assets with the centralized authority, which means they maintain greater control and security. While \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e-based exchanges primarily deal in cryptocurrency, the concept could be applied to more traditional investments as well.\u003c/p\u003e\n\u003ch3 id=\"3-lending\"\u003e\u003cstrong\u003e3. Lending\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eLenders can use \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e to execute collateralized loans through \u003ca href=\"https://stephenajulu.com/blog/what-are-smart-contracts-smart-contracts-explained/\"\u003esmart contracts\u003c/a\u003e. Smart contracts built on the \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e allow certain events to automatically trigger things like a service payment, a margin call, full repayment of the loan, and release of collateral. As a result, loan processing is faster and less expensive, and lenders can offer better rates.\u003c/p\u003e\n\u003ch3 id=\"4-insurance\"\u003e\u003cstrong\u003e4. Insurance\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eUsing smart contracts on a \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e can provide greater transparency for customers and insurance providers. Recording all claims on a blockchain would keep customers from making duplicate claims for the same event. Furthermore, using smart contracts can speed up the process for claimants to receive payments.\u003c/p\u003e\n\u003ch3 id=\"5-real-estate\"\u003e\u003cstrong\u003e5. Real estate\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eReal estate transactions require a ton of paperwork to verify financial information and ownership and then transfer deeds and titles to new owners. Using blockchain technology to record real estate transactions can provide a more secure and accessible means of verifying and transferring ownership. That can speed up transactions, reduce paperwork, and save money.\u003c/p\u003e\n\u003ch3 id=\"6-secure-personal-information\"\u003e\u003cstrong\u003e6. Secure personal information\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eKeeping data such as your Social Security number, date of birth, and other identifying information on a public ledger (e.g., a blockchain) may actually be more secure than current systems more susceptible to hacks. Blockchain technology can be used to secure access to identifying information while improving access for those who need it in industries such as travel, healthcare, finance, and education.\u003c/p\u003e\n\u003ch3 id=\"7-voting\"\u003e\u003cstrong\u003e7. Voting\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eIf personally identifiable information is held on a blockchain, that puts us just one step away from also being able to vote using blockchain technology. Using blockchain technology can make sure that nobody votes twice, only eligible voters are able to vote, and votes cannot be tampered with. What\u0026rsquo;s more, it can increase access to voting by making it as simple as pressing a few buttons on your smartphone. At the same time, the cost of running an election would substantially decrease.\u003c/p\u003e\n\u003ch3 id=\"8-government-benefits\"\u003e\u003cstrong\u003e8. Government benefits\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eAnother way to use digital identities stored on a blockchain is for the administration of government benefits such as welfare programs, Social Security, and Medicare. Using blockchain technology could reduce fraud and the costs of operations. Meanwhile, beneficiaries can receive funds more quickly through digital disbursement on the blockchain.\u003c/p\u003e\n\u003ch3 id=\"9-securely-share-medical-information\"\u003e\u003cstrong\u003e9. Securely share medical information\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eKeeping medical records on a blockchain can allow doctors and medical professionals to obtain accurate and up-to-date information on their patients. That can ensure that patients seeing multiple doctors get the best care possible. It can also speed up the system for pulling medical records, allowing for more timely treatment in some cases. And, if insurance information is held in the database, doctors can easily verify whether a patient is insured and their treatment is covered.\u003c/p\u003e\n\u003ch3 id=\"10-artist-royalties\"\u003e\u003cstrong\u003e10. Artist royalties\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eUsing blockchain technology to track music and film files distributed over the internet can make sure that artists are paid for their work. Since blockchain technology was invented to ensure the same file doesn\u0026rsquo;t exist in more than one place, it can be used to help reduce piracy. What\u0026rsquo;s more, using a blockchain to track playbacks on streaming services and a smart contract to distribute payments can provide greater transparency and the assurance that artists receive the money they\u0026rsquo;re owed.\u003c/p\u003e\n\u003ch3 id=\"11-non-fungible-tokens\"\u003e\u003cstrong\u003e11. Non-fungible tokens\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003eNon-fungible tokens\u003c/a\u003e, or NFTs, are commonly thought of as ways to own the rights to digital art. Since the blockchain prevents data from existing in two places, putting an NFT on the blockchain guarantees that only a single copy of a piece of digital art exists. That can make it like \u003ca href=\"https://www.fool.com/investing/stock-market/market-sectors/communication/media-stocks/art-investment/\"\u003einvesting in physical art\u003c/a\u003e but without the drawbacks of storage and maintenance.\u003c/p\u003e\n\u003cp\u003eNFTs can have varied applications, and ultimately they\u0026rsquo;re a way to convey ownership of anything that can be represented by data. That could be the deed to a house, the broadcast rights to a video, or an event ticket. Anything remotely unique could be an NFT.\u003c/p\u003e\n\u003ch3 id=\"12-logistics-and-supply-chain-tracking\"\u003e\u003cstrong\u003e12. Logistics and supply chain tracking\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eUsing blockchain technology to track items as they move through a logistics or supply chain network can provide several advantages. First of all, it provides greater ease of communication between partners since data is available on a secure public ledger. Second, it provides greater security and data integrity since the data on the blockchain can\u0026rsquo;t be altered. That means logistics and supply chain partners can work together more easily with greater trust that the data they\u0026rsquo;ve provided is accurate and up to date.\u003c/p\u003e\n\u003ch3 id=\"13-secure-internet-of-things-networks\"\u003e\u003cstrong\u003e13. Secure Internet of Things networks\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe Internet of Things (IoT) is making our lives easier, but it\u0026rsquo;s also opening the door for nefarious actors to access our data or take control of important systems. Blockchain technology can provide greater security by storing passwords and other data on a decentralized network instead of a centralized server. Additionally, it offers protection against data tampering since a blockchain is practically immutable.\u003c/p\u003e\n\u003ch3 id=\"14-data-storage\"\u003e\u003cstrong\u003e14. Data storage\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eAdding blockchain technology to a data storage solution can provide greater security and integrity. Since data can be stored in a decentralized manner, it will be more difficult to hack into and wipe out all the data on the network, whereas a centralized data storage provider may only have a few points of redundancy. It also means greater access to data since access isn\u0026rsquo;t necessarily reliant on the operations of a single company. In some cases, using blockchain for data storage may also be less expensive.\u003c/p\u003e\n\u003ch3 id=\"15-gambling\"\u003e\u003cstrong\u003e15. Gambling\u003c/strong\u003e\u003c/h3\u003e\n\u003cp\u003eThe gambling industry can use blockchain to provide several benefits to players. One of the biggest benefits of operating a casino on the blockchain is the transparency it provides to potential gamblers. Since every transaction is recorded on the blockchain, bettors can see that the games are fair and the casino pays out. Furthermore, by using blockchain, there\u0026rsquo;s no need to provide personal information, including a bank account, which may be a hurdle for some would-be gamblers. It also provides a workaround for regulatory restrictions since players can gamble anonymously and the decentralized network isn\u0026rsquo;t susceptible to a government shutdown.\u003c/p\u003e\n\u003ch3 id=\"blockchain-is-in-its-infancy\"\u003eBlockchain is in its infancy\u003c/h3\u003e\n\u003cp\u003eBlockchain technology has only been around for a dozen years, and businesses are still exploring new ways to apply the technology to support their operations. With the growing amount of digital data used in our lives, there\u0026rsquo;s a growing need for the data security, access, transparency, and integrity blockchain can provide.\u003c/p\u003e\n\u003cp\u003eSource: \u003ca href=\"https://www.fool.com/investing/stock-market/market-sectors/financials/blockchain-stocks/blockchain-applications/\"\u003eThe Motley Fool\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-09T13:01:00+03:00","image":"https://ajulu.netlify.app/images/mit-algorand-01.jpg","tags":["technology","finance","blockchain","hyperledger","ledger","blockchains","blocks","decentralized","decentralized finance","cryptography","cryptocurrencies","cryptocurrency","crypto","gamefi","nft","non fungible tokens","blockchain technology","dao","defi","digitization","finance and economy","fintech","financial technology"]},{"id":"https://ajulu.netlify.app/posts/what-are-smart-contracts-smart-contracts-explained/","url":"https://ajulu.netlify.app/posts/what-are-smart-contracts-smart-contracts-explained/","title":"What are Smart Contracts? How Do They Work? Smart Contracts Explained","summary":"A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.\nThe code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.\n","content_html":"\u003cp\u003eA \u003cstrong\u003esmart contract\u003c/strong\u003e is a computer program or a transaction protocol that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.\u003c/p\u003e\n\u003cp\u003eThe code and the agreements contained therein exist across a distributed, decentralized \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e network. The code controls the execution, and transactions are trackable and irreversible.\u003c/p\u003e\n\u003cp\u003eSmart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism.\u003c/p\u003e\n\u003cp\u003eSmart contracts are made possible by \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchains\u003c/a\u003e, a network of computers that work together to enforce rules on the network without requiring the help of an intermediary.\u003c/p\u003e\n\u003ch3 id=\"how-smart-contracts-work\"\u003eHow smart contracts work\u003c/h3\u003e\n\u003cp\u003eSmart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions have been met and verified. These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket. The \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.\u003c/p\u003e\n\u003cp\u003eWithin a smart contract, there can be as many stipulations as needed to satisfy the participants that the task will be completed satisfactorily. To establish the terms, participants must determine how transactions and their data are represented on the blockchain, agree on the “if/when\u0026hellip;then…” rules that govern those transactions, explore all possible exceptions, and define a framework for resolving disputes.\u003c/p\u003e\n\u003cp\u003eThen the smart contract can be programmed by a developer – although increasingly, organizations that use \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchain\u003c/a\u003e for business provide templates, web interfaces, and other online tools to simplify structuring smart contracts.\u003c/p\u003e\n\u003cp\u003eWith conventional contracts, a document outlines the terms of a relationship between two parties, which is enforceable by law. If one Party A violates the terms, Party B can take Party A to court for not complying with the agreement. A smart contract fortifies such agreements in code so the rules are automatically enforced without courts (or any third party) getting involved.\u003c/p\u003e\n\u003ch3 id=\"benefits-of-smart-contracts\"\u003eBenefits of smart contracts\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eSpeed, efficiency, and accuracy:\u003c/strong\u003e Once a condition is met, the contract is executed immediately. Because smart contracts are digital and automated, there’s no paperwork to process and no time spent reconciling errors that often result from manually filling in documents.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eTrust and transparency:\u003c/strong\u003e Because there’s no third party involved, and because encrypted records of transactions are shared across participants, there’s no need to question whether information has been altered for personal benefit.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eSecurity:\u003c/strong\u003e Blockchain transaction records are encrypted, which makes them very hard to hack. Moreover, because each record is connected to the previous and subsequent records on a distributed ledger, hackers would have to alter the entire chain to change a single record.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eSavings:\u003c/strong\u003e Smart contracts remove the need for intermediaries to handle transactions and, by extension, their associated time delays and fees.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"what-can-smart-contracts-be-used-for\"\u003eWhat can smart contracts be used for?\u003c/h3\u003e\n\u003cp\u003eSome common ways of using smart contracts are:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eMultisignature accounts\u003c/strong\u003e: Funds can only be spent when a required percentage of people agree.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eEncoding financial agreements\u003c/strong\u003e: Manage agreements between users. Say, if one person buys insurance from an insurance company, the rules of when the insurance can be redeemed can be programmed into a smart contract.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAgreements based on the outside world\u003c/strong\u003e: Pull in data from the outside world (financial, political, or whatever) with the help of oracles.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eProvide the third party\u003c/strong\u003e: Similar to how a software library works, smart contracts can work with other smart contracts in a chain.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eStorage\u003c/strong\u003e: Store information about an application, such as domain registration information or membership records. Storage in a blockchain like Ethereum is unique in that the data is immutable and can\u0026rsquo;t be erased.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"examples-of-blockchain-platforms-supporting-smart-contracts\"\u003eExamples of \u003ca href=\"https://stephenajulu.com/blog/6-cryptocurrencies-blockchains-with-massive-potential/\"\u003eblockchain platforms\u003c/a\u003e supporting smart contracts\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eBitcoin:\u003c/strong\u003e Provides a Turing-incomplete script language that allows the creation of custom smart contracts on top of Bitcoin like multisignature accounts, payment channels, escrows, time locks, atomic cross-chain trading, oracles, or multi-party lottery with no operator.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCardano:\u003c/strong\u003e A blockchain platform for smart contracts, using proof of stake\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eEthereum:\u003c/strong\u003e Implements a Turing-complete language on its blockchain, a prominent smart contract framework.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eEOS.IO:\u003c/strong\u003e A blockchain platform for smart contracts\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eTezos:\u003c/strong\u003e A blockchain platform modifying its own set of rules with minimal disruption to the network through an on-chain governance model\u003c/li\u003e\n\u003c/ul\u003e\n","date_published":"2021-12-09T11:00:00+03:00","image":"https://ajulu.netlify.app/images/smart-contract-featured-image.png","tags":["technology","smart contracts","blockchain","decentralized","ledger","hyperledger","digital ledger","cryptocurrencies","crypto","bitcoin","ethereum"]},{"id":"https://ajulu.netlify.app/posts/invest-in-web-3.0-by-buying-these-5-cryptocurrencies-now/","url":"https://ajulu.netlify.app/posts/invest-in-web-3.0-by-buying-these-5-cryptocurrencies-now/","title":"Invest In Web 3.0 By Buying These 5 Cryptocurrencies Now","summary":"The internet is slowly moving towards blockchain and has had an impact on investors who felt the power and freedom of the decentralized currency. Investors have made huge profits based on the DeFi protocol, and countries are trying to get on their hands on this emerging asset. Amid this is rising Web 3.0. It aims to bring to the internet what DeFi brought to the banking sector. Theoretically, Web 3.0 is the third version of the internet and aims to take back power from large tech companies. The Web 3.0 revolution will take place in the next couple of years, and the credit goes to blockchain technology. So, if you want to invest in the Web 3.0 era, why not headstart with these cryptocurrencies?\n","content_html":"\u003cp\u003eThe internet is slowly moving towards blockchain and has had an impact on investors who felt the power and freedom of the decentralized currency. Investors have made huge profits based on the DeFi protocol, and countries are trying to get on their hands on this emerging asset. Amid this is rising Web 3.0. It aims to bring to the internet what DeFi brought to the banking sector. Theoretically, Web 3.0 is the third version of the internet and aims to take back power from large tech companies. The Web 3.0 revolution will take place in the next couple of years, and the credit goes to blockchain technology. So, if you want to invest in the Web 3.0 era, why not headstart with these cryptocurrencies?\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eHelium:\u003c/strong\u003e Helium is one of the most popular Web 3.0 cryptocurrencies and is responsible for making the internet accessible to everyone. This project offers a web service designed to compete with ISP giants like Verizon and AT\u0026amp;T.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ePolkadot\u003c/strong\u003e: If you are not new to the crypto market, then you have probably heard of Polkadot. It is one of the top 10 cryptocurrencies on the market and is a flagship project by the Web 3 Foundation, a Swiss company founded to facilitate a fully functional and user-friendly decentralized web.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eKusama:\u003c/strong\u003e Investing in Kusama is almost a roundabout way of investing in Polkadot. It is because Kusama only exists as the companion of the Polkadot network. It has carried out many projects because the network is the benchmark for the success of parachains.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eOcean:\u003c/strong\u003e Ocean protocol is a decentralized, blockchain-based data exchange. It functions as a protocol that allows anyone to build their own decentralized data marketplace. Ocean also functions as a utility token, which is used for buying, staking, and selling data for the governance of community funding on the platform.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eFilecoin:\u003c/strong\u003e As its name suggests, Filecoin is the file cabinet for Web 3.0. The network is decentralized storage that is created to be a safe alternative to centralized cloud storage and also a way to passively earn money. Filecoin wants its users to know that its storage is for anything and everything.\u003c/p\u003e\n\u003cp\u003eTo buy these I suggest you \u003ca href=\"https://accounts.binance.com/en/register?ref=CL2JFAB6\"\u003eregister at Binance\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-08T16:13:00+03:00","image":"https://ajulu.netlify.app/images/web-3-0.jpg","tags":["technology","decentralized","decentralized internet","web3","web30","decentralized storage","decentralized web","file cabinet","helium","flux","filecoin","polkadot","kusama"]},{"id":"https://ajulu.netlify.app/posts/what-are-daos-decentralized-autonomous-organizations-explained/","url":"https://ajulu.netlify.app/posts/what-are-daos-decentralized-autonomous-organizations-explained/","title":"What are DAOs? Decentralized Autonomous Organizations Explained","summary":"DAOs are an effective and safe way to work with like-minded folks around the globe.\nThink of them like an internet-native business that\u0026rsquo;s collectively owned and managed by its members. They have built-in treasuries that no one has the authority to access without the approval of the group. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice.\nThere\u0026rsquo;s no CEO who can authorize spending based on their own whims and no chance of a dodgy CFO manipulating the books. Everything is out in the open and the rules around spending are baked into the DAO via its code.\n","content_html":"\u003cp\u003eDAOs are an effective and safe way to work with like-minded folks around the globe.\u003c/p\u003e\n\u003cp\u003eThink of them like an internet-native business that\u0026rsquo;s collectively owned and managed by its members. They have built-in treasuries that no one has the authority to access without the approval of the group. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice.\u003c/p\u003e\n\u003cp\u003eThere\u0026rsquo;s no CEO who can authorize spending based on their own whims and no chance of a dodgy CFO manipulating the books. Everything is out in the open and the rules around spending are baked into the DAO via its code.\u003c/p\u003e\n\u003cp\u003eA comparison:\u003c/p\u003e\n\u003ctable\u003e\n  \u003cthead\u003e\n      \u003ctr\u003e\n          \u003cth\u003eDAO\u003c/th\u003e\n          \u003cth\u003eA traditional organisation\u003c/th\u003e\n      \u003c/tr\u003e\n  \u003c/thead\u003e\n  \u003ctbody\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eUsually flat, and fully democratized.\u003c/td\u003e\n          \u003ctd\u003eUsually hierarchical.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eVoting required by members for any changes to be implemented.\u003c/td\u003e\n          \u003ctd\u003eDepending on structure, changes can be demanded from a sole party, or voting may be offered.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eVotes tallied, and outcome implemented automatically without trusted intermediary.\u003c/td\u003e\n          \u003ctd\u003eIf voting allowed, votes are tallied internally, and outcome of voting must be handled manually.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eServices offered are handled automatically in a decentralized manner (for example distribution of philanthropic funds).\u003c/td\u003e\n          \u003ctd\u003eRequires human handling, or centrally controlled automation, prone to manipulation.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eAll activity is transparent and fully public.\u003c/td\u003e\n          \u003ctd\u003eActivity is typically private, and limited to the public.\u003c/td\u003e\n      \u003c/tr\u003e\n  \u003c/tbody\u003e\n\u003c/table\u003e\n\u003cp\u003eDAO examples\u003c/p\u003e\n\u003cp\u003eTo help this make more sense, here are a few examples of how you could use a DAO:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eA charity – you can accept membership and donations from anyone in the world and the group can decide how they want to spend donations.\u003c/li\u003e\n\u003cli\u003eA freelancer network – you could create a network of contractors who pool their funds for office spaces and software subscriptions.\u003c/li\u003e\n\u003cli\u003eVentures and grants – you could create a venture fund that pools investment capital and votes on ventures to back. Repaid money could later be redistributed amongst DAO members.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u003cstrong\u003eSource:\u003c/strong\u003e \u003ca href=\"https://learnsomethingnew.substack.com/p/snippet-2-what-are-daos\"\u003e\u003cstrong\u003eLearn Something New Newsletter\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eGo check out the \u0026ldquo;\u003ca href=\"https://learnsomethingnew.substack.com/\"\u003eLearn Something New\u003c/a\u003e\u0026rdquo; Newsletter.\u003c/p\u003e\n","date_published":"2021-12-03T16:15:00+03:00","image":"https://ajulu.netlify.app/images/de340f456ab84bf89b3f2f12cb423eeb.png","tags":["technology","decentralize","decentralized","decentralized autonomous organizations","dao","daos","decentralized organizations","decentralized organization","decentralized autonomous organization"]},{"id":"https://ajulu.netlify.app/posts/how-does-decentralized-finance-work/","url":"https://ajulu.netlify.app/posts/how-does-decentralized-finance-work/","title":"How Does Decentralized Finance Work?","summary":"DeFi uses cryptocurrencies and smart contracts to provide services that don\u0026rsquo;t need intermediaries. In today\u0026rsquo;s financial world, financial institutions act as guarantors of transactions. This gives these institutions immense power because your money flows through them. Plus billions of people around the world can\u0026rsquo;t even access a bank account.\nIn DeFi, a smart contract replaces the financial institution in the transaction. A smart contract is a type of Ethereum account that can hold funds and can send/refund them based on certain conditions. No one can alter that smart contract when it\u0026rsquo;s live – it will always run as programmed.\n","content_html":"\u003cp\u003eDeFi uses cryptocurrencies and smart contracts to provide services that don\u0026rsquo;t need intermediaries. In today\u0026rsquo;s financial world, financial institutions act as guarantors of transactions. This gives these institutions immense power because your money flows through them. Plus billions of people around the world can\u0026rsquo;t even access a bank account.\u003c/p\u003e\n\u003cp\u003eIn DeFi, a smart contract replaces the financial institution in the transaction. A smart contract is a type of Ethereum account that can hold funds and can send/refund them based on certain conditions. No one can alter that smart contract when it\u0026rsquo;s live – it will always run as programmed.\u003c/p\u003e\n\u003cp\u003eA contract that\u0026rsquo;s designed to hand out an allowance or pocket money could be programmed to send money from Account A to Account B every Friday. And it will only ever do that as long as Account A has the required funds. No one can change the contract and add Account C as a recipient to steal funds.\u003c/p\u003e\n\u003cp\u003eContracts are also public for anyone to inspect and audit. This means bad contracts will often come under community scrutiny pretty quickly.\u003c/p\u003e\n\u003cp\u003eThis does mean there\u0026rsquo;s currently a need to trust the more technical members of the Ethereum community who can read code. The open-source-based community helps keep developers in check, but this need will diminish over time as smart contracts become easier to read and other ways to prove the trustworthiness of code are developed.\u003c/p\u003e\n\u003cp\u003eSource: \u003ca href=\"https://ethereum.org/en/defi/\"\u003eEthereum Website\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-03T14:09:00+03:00","image":"https://ajulu.netlify.app/images/defi.png","tags":["finance","technology","decentralized","decentralizedfinance","defi"]},{"id":"https://ajulu.netlify.app/posts/defi-vs-traditional-finance/","url":"https://ajulu.netlify.app/posts/defi-vs-traditional-finance/","title":"Decentralized(DeFi) vs Traditional Finance","summary":"One of the best ways to see the potential of DeFi is to understand the problems that exist today.\nSome people aren\u0026rsquo;t granted access to set up a bank account or use financial services. Lack of access to financial services can prevent people from being employable. Financial services can block you from getting paid. A hidden charge of financial services is your personal data. Governments and centralized institutions can close down markets at will. Trading hours often limited to business hours of specific time zone. Money transfers can take days due to internal human processes. There\u0026rsquo;s a premium to financial services because intermediary institutions need their cut. A comparison DeFi Traditional finance You hold your money. Your money is held by companies. You control where your money goes and how it\u0026rsquo;s spent. You have to trust companies not to mismanage your money, like lend to risky borrowers. Transfers of funds happen in minutes. Payments can take days due to manual processes. Transaction activity is pseudonymous. Financial activity is tightly coupled with your identity. DeFi is open to anyone. You must apply to use financial services. The markets are always open. Markets close because employees need breaks. It\u0026rsquo;s built on transparency – anyone can look at a product\u0026rsquo;s data and inspect how the system works. Financial institutions are closed books: you can\u0026rsquo;t ask to see their loan history, a record of their managed assets, and so on. ","content_html":"\u003cp\u003eOne of the best ways to see the potential of DeFi is to understand the problems that exist today.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eSome people aren\u0026rsquo;t granted access to set up a bank account or use financial services.\u003c/li\u003e\n\u003cli\u003eLack of access to financial services can prevent people from being employable.\u003c/li\u003e\n\u003cli\u003eFinancial services can block you from getting paid.\u003c/li\u003e\n\u003cli\u003eA hidden charge of financial services is your personal data.\u003c/li\u003e\n\u003cli\u003eGovernments and centralized institutions can close down markets at will.\u003c/li\u003e\n\u003cli\u003eTrading hours often limited to business hours of specific time zone.\u003c/li\u003e\n\u003cli\u003eMoney transfers can take days due to internal human processes.\u003c/li\u003e\n\u003cli\u003eThere\u0026rsquo;s a premium to financial services because intermediary institutions need their cut.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"a-comparison\"\u003eA comparison\u003c/h3\u003e\n\u003ctable\u003e\n  \u003cthead\u003e\n      \u003ctr\u003e\n          \u003cth\u003eDeFi\u003c/th\u003e\n          \u003cth\u003eTraditional finance\u003c/th\u003e\n      \u003c/tr\u003e\n  \u003c/thead\u003e\n  \u003ctbody\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eYou hold your money.\u003c/td\u003e\n          \u003ctd\u003eYour money is held by companies.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eYou control where your money goes and how it\u0026rsquo;s spent.\u003c/td\u003e\n          \u003ctd\u003eYou have to trust companies not to mismanage your money, like lend to risky borrowers.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eTransfers of funds happen in minutes.\u003c/td\u003e\n          \u003ctd\u003ePayments can take days due to manual processes.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eTransaction activity is pseudonymous.\u003c/td\u003e\n          \u003ctd\u003eFinancial activity is tightly coupled with your identity.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eDeFi is open to anyone.\u003c/td\u003e\n          \u003ctd\u003eYou must apply to use financial services.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eThe markets are always open.\u003c/td\u003e\n          \u003ctd\u003eMarkets close because employees need breaks.\u003c/td\u003e\n      \u003c/tr\u003e\n      \u003ctr\u003e\n          \u003ctd\u003eIt\u0026rsquo;s built on transparency – anyone can look at a product\u0026rsquo;s data and inspect how the system works.\u003c/td\u003e\n          \u003ctd\u003eFinancial institutions are closed books: you can\u0026rsquo;t ask to see their loan history, a record of their managed assets, and so on.\u003c/td\u003e\n      \u003c/tr\u003e\n  \u003c/tbody\u003e\n\u003c/table\u003e\n","date_published":"2021-12-03T11:17:00+03:00","image":"https://ajulu.netlify.app/images/defi.png","tags":["finance","technology","decentralized","decentralized finance","defi"]},{"id":"https://ajulu.netlify.app/posts/applications-and-use-cases-of-decentralized-finance-defi/","url":"https://ajulu.netlify.app/posts/applications-and-use-cases-of-decentralized-finance-defi/","title":"Applications and Use Cases of Decentralized Finance(DeFi)","summary":"Refresher:\nDeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.\nDeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source.\nApplications and Use Cases of DeFi Decentralized exchanges (DEXs): Online exchanges help users exchange currencies for other currencies, whether U.S. dollars for bitcoin or ether for DAI. DEXs are a hot type of exchange, which connects users directly so they can trade cryptocurrencies with one another without trusting an intermediary with their money. Stablecoins: A cryptocurrency that\u0026rsquo;s tied to an asset outside of cryptocurrency (the dollar or euro, for example) to stabilize the price. Lending platforms: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle. \u0026ldquo;Wrapped\u0026rdquo; bitcoins (WBTC): A way of sending bitcoin to the Ethereum network so the bitcoin can be used directly in Ethereum\u0026rsquo;s DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platforms described above. Prediction markets: Markets for betting on the outcome of future events, such as elections. The goal of DeFi versions of prediction markets is to offer the same functionality but without intermediaries. There are more applications that I\u0026rsquo;ll talk about in part 3 of DeFi.\n","content_html":"\u003cp\u003eRefresher:\u003c/p\u003e\n\u003cp\u003eDeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.\u003c/p\u003e\n\u003cp\u003eDeFi draws inspiration from \u003ca href=\"https://www.coindesk.com/learn/what-is-blockchain-technology/\"\u003eblockchain\u003c/a\u003e, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source.\u003c/p\u003e\n\u003ch2 id=\"applications-and-use-cases-of-defi\"\u003eApplications and Use Cases of DeFi\u003c/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eDecentralized exchanges (DEXs)\u003c/strong\u003e: Online exchanges help users exchange currencies for other currencies, whether U.S. dollars for bitcoin or ether for DAI. DEXs are a hot type of exchange, which connects users directly so they can trade cryptocurrencies with one another without trusting an intermediary with their money.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eStablecoins\u003c/strong\u003e: A cryptocurrency that\u0026rsquo;s tied to an asset outside of cryptocurrency (the dollar or euro, for example) to stabilize the price.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eLending platforms\u003c/strong\u003e: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003e\u0026ldquo;Wrapped\u0026rdquo; bitcoins (WBTC)\u003c/strong\u003e: A way of sending bitcoin to the Ethereum network so the bitcoin can be used directly in Ethereum\u0026rsquo;s DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platforms described above.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePrediction markets\u003c/strong\u003e: Markets for betting on the outcome of future events, such as elections. The goal of DeFi versions of prediction markets is to offer the same functionality but without intermediaries.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThere are more applications that I\u0026rsquo;ll talk about in part 3 of DeFi.\u003c/p\u003e\n\u003cp\u003eFor now:\u003c/p\u003e\n\u003cp\u003eHave a nice day!\u003c/p\u003e\n","date_published":"2021-11-28T18:53:00+03:00","image":"https://ajulu.netlify.app/images/n0hcw35at9m4acjgaqkw_what-is-defi-decentralized-finance-guide.jpe","tags":["defi","decentralized","decentralized finance","finance","financial technology","fintech","blockchain","technology","dexs"]},{"id":"https://ajulu.netlify.app/posts/web-3.0-explained-part-1/","url":"https://ajulu.netlify.app/posts/web-3.0-explained-part-1/","title":"Web 3.0 Explained Part 1","summary":"Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected, and open websites.\nWeb 3.0 has not yet been implemented, so there is no solid definition. It took over ten years to transition from the original web, Web 1.0, to Web 2.0, and it is expected to take just as long, if not longer, to fully implement and reshape the web with Web 3.0. However, the technologies that some people believe are going to make up and ultimately define Web 3.0 are currently being developed. Smart home appliances using wireless networks and the Internet of Things (IoT) are two examples of how Web 3.0 is already impacting technology.\n","content_html":"\u003cp\u003eWeb 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected, and open websites.\u003c/p\u003e\n\u003cp\u003eWeb 3.0 has not yet been implemented, so there is no solid definition. It took over ten years to transition from the original web, Web 1.0, to Web 2.0, and it is expected to take just as long, if not longer, to fully implement and reshape the web with Web 3.0. However, the technologies that some people believe are going to make up and ultimately define Web 3.0 are currently being developed. Smart home appliances using wireless networks and the Internet of Things (IoT) are two examples of how Web 3.0 is already impacting technology.\u003c/p\u003e\n\u003cp\u003eIf the trend of change is traced from Web 1.0, a static information provider where people read websites but rarely interacted with them, to Web 2.0, an interactive and social web enabling collaboration between users, then it can be assumed that Web 3.0 will change both how websites are made and how people interact with them.\u003c/p\u003e\n\u003ch3 id=\"web-30-properties\"\u003eWeb 3.0 properties\u003c/h3\u003e\n\u003cp\u003eWeb 3.0 may be constructed with artificial intelligence (AI), semantic web, and ubiquitous properties in mind. The idea behind using AI comes from the goal of providing faster, more relevant data to end-users. A website using AI should be able to filter through and provide the data it thinks a specific user will find appropriate. Social bookmarking as a search engine can provide better results than Google since the results are websites that have been voted on by users. However, these results can also be manipulated by humans. AI could be used to separate the legitimate results from the falsified, therefore producing results similar to social bookmarking and social media, but without bad feedback.\u003c/p\u003e\n\u003cp\u003eAn artificially intelligent web will also introduce virtual assistants, an element that is already emerging today as an aspect built into a device or through third-party apps.\u003c/p\u003e\n\u003cp\u003eThe idea behind the semantic web is to categorize and store information in a way that helps teach a system what specific data means. In other words, a website should be able to understand words put in search queries the same way a human would, enabling it to generate and share better content. This system will also use AI; semantic web will teach a computer what the data means and then AI will take the information and use it.\u003c/p\u003e\n\u003cp\u003eUbiquitous computing refers to embedded processing in everyday objects, which enables the intercommunication of devices in a user’s environment. This is thought to be another property that Web 3.0 will have. The concept is similar to the Internet of Things.\u003c/p\u003e\n\u003cp\u003eThe technologies which will make up these properties include microformats, data mining, natural language search, and machine learning. Web 3.0 will also be more focused on peer-to-peer (P2P) technologies such as blockchain. Other technologies such as open APIs, data formats, and open-sourced software may also be used while developing Web 3.0 applications.\u003c/p\u003e\n\u003ch3 id=\"web-30-and-web-20\"\u003eWeb 3.0 and Web 2.0\u003c/h3\u003e\n\u003cp\u003eWeb 2.0 refers to websites and applications that utilize user-generated content for end-users. Web 2.0 is used in many websites today, chiefly focusing on user interactivity and collaboration. Web 2.0 also focused on providing more universal network connectivity and communication channels. The difference between Web 2.0 and 3.0 is that Web 3.0 is more focused on the use of technologies like machine learning and AI to provide relevant content for each user instead of just the content other end users have provided. Web 2.0 essentially allows users to contribute and sometimes collaborate on-site content, while Web 3.0 will most likely turn these jobs over to the semantic web and AI technologies.\u003c/p\u003e\n","date_published":"2021-11-25T10:24:00+03:00","image":"https://ajulu.netlify.app/images/1_xdx6fonpgn2sq0fnmdqh8w.jpeg","tags":["web3","decentralized web","decentralized"]}]}