{"version":"https://jsonfeed.org/version/1.1","title":"Stephen Ajulu","home_page_url":"https://ajulu.netlify.app/","feed_url":"https://ajulu.netlify.app/tags/defi/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/an-introduction-in-blockchain-cryptocurrencies-tokens-smart-contracts-nfts-web3-defi-gamefi-and-dein-crash-course/","url":"https://ajulu.netlify.app/posts/an-introduction-in-blockchain-cryptocurrencies-tokens-smart-contracts-nfts-web3-defi-gamefi-and-dein-crash-course/","title":"An Introduction in Blockchain, Cryptocurrencies, Tokens, Smart Contracts","summary":"Hello there, today I\u0026rsquo;ll be covering definitions:\nWhat is blockchain? A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\n","content_html":"\u003cp\u003eHello there, today I\u0026rsquo;ll be covering definitions:\u003c/p\u003e\n\u003ch2 id=\"what-is-blockchain\"\u003eWhat is blockchain?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003eblockchain\u003c/strong\u003e is a growing list of records, called \u003cem\u003eblocks\u003c/em\u003e, that are linked together using \u003ca href=\"https://en.wikipedia.org/wiki/Cryptography\" title=\"Cryptography\"\u003ecryptography\u003c/a\u003e. Each block contains a \u003ca href=\"https://en.wikipedia.org/wiki/Cryptographic_hash_function\" title=\"Cryptographic hash function\"\u003ecryptographic hash\u003c/a\u003e of the previous block, a \u003ca href=\"https://en.wikipedia.org/wiki/Trusted_timestamping\" title=\"Trusted timestamping\"\u003etimestamp\u003c/a\u003e, and transaction data (generally represented as a \u003ca href=\"https://en.wikipedia.org/wiki/Merkle_tree\" title=\"Merkle tree\"\u003eMerkle tree\u003c/a\u003e). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003e\u003cstrong\u003eLearn more\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-a-cryptocurrency\"\u003eWhat is a cryptocurrency?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003ecryptocurrency\u003c/strong\u003e is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/how-to-buy-your-first-cryptocurrency/\"\u003e\u003cstrong\u003eHere is how you can buy your first cryptocurrency\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-are-crypto-tokens\"\u003eWhat Are Crypto Tokens?\u003c/h2\u003e\n\u003cp\u003eThe term token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own \u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003eblockchains\u003c/a\u003e. Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things. These tokens are usually created, distributed, sold, and circulated through the standard \u003ca href=\"https://www.investopedia.com/terms/i/initial-coin-offering-ico.asp\"\u003einitial coin offering (ICO)\u003c/a\u003e process, which involves a crowdfunding exercise to fund project development.\u003c/p\u003e\n\u003ch2 id=\"what-is-a-smart-contract\"\u003eWhat is a smart contract?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003esmart contract\u003c/strong\u003e is a \u003ca href=\"https://en.wikipedia.org/wiki/Computer_program\" title=\"Computer program\"\u003ecomputer program\u003c/a\u003e or a \u003ca href=\"https://en.wikipedia.org/wiki/Transaction_Protocol_Data_Unit\" title=\"Transaction Protocol Data Unit\"\u003etransaction protocol\u003c/a\u003e that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a \u003ca href=\"https://en.wikipedia.org/wiki/Contract\" title=\"Contract\"\u003econtract\u003c/a\u003e or an agreement. The objectives of smart contracts are the reduction of the need for trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-smart-contracts-smart-contracts-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-an-nft\"\u003eWhat is an NFT?\u003c/h2\u003e\n\u003cp\u003eA \u003cstrong\u003enon-fungible token\u003c/strong\u003e (\u003cstrong\u003eNFT\u003c/strong\u003e) is a unique and non-interchangeable unit of data stored on a digital \u003ca href=\"https://en.wikipedia.org/wiki/Ledger\" title=\"Ledger\"\u003eledger\u003c/a\u003e (\u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e). NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public \u003ca href=\"https://en.wikipedia.org/wiki/Certificate_of_authenticity\" title=\"Certificate of authenticity\"\u003ecertificate of authenticity\u003c/a\u003e or \u003ca href=\"https://en.wikipedia.org/wiki/Title_(property)\" title=\"Title (property)\"\u003eproof of ownership\u003c/a\u003e, but it does not restrict the sharing or copying of the underlying digital file. The lack of interchangeability (\u003ca href=\"https://en.wikipedia.org/wiki/Fungibility\" title=\"Fungibility\"\u003efungibility\u003c/a\u003e) distinguishes NFTs from blockchain \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, such as \u003ca href=\"https://en.wikipedia.org/wiki/Bitcoin\" title=\"Bitcoin\"\u003eBitcoin\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-web-3\"\u003eWhat is Web 3?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eWeb3,\u003c/strong\u003e also known as \u003cstrong\u003eWeb 3.0\u003c/strong\u003e, is an idea for a new iteration of the \u003ca href=\"https://en.wikipedia.org/wiki/Internet\" title=\"Internet\"\u003eInternet\u003c/a\u003e that is based on public \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchains\u003c/a\u003e. The term was coined in 2014 by \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e co-founder \u003ca href=\"https://en.wikipedia.org/wiki/Gavin_Wood\" title=\"Gavin Wood\"\u003eGavin Wood\u003c/a\u003e, and the idea gained interest in 2020 and 2021 from \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrency\" title=\"Cryptocurrency\"\u003ecryptocurrency\u003c/a\u003e enthusiasts, large technology companies, and venture capitalist firms.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/web-3.0-explained-part-1/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-defi\"\u003eWhat is DeFi?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eDecentralized finance\u003c/strong\u003e (commonly referred to as \u003cstrong\u003eDeFi\u003c/strong\u003e) is a \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e-based form of finance that does not rely on central financial \u003ca href=\"https://en.wikipedia.org/wiki/Intermediary\" title=\"Intermediary\"\u003eintermediaries\u003c/a\u003e such as \u003ca href=\"https://en.wikipedia.org/wiki/Brokerage\" title=\"Brokerage\"\u003ebrokerages\u003c/a\u003e, \u003ca href=\"https://en.wikipedia.org/wiki/Exchange_(organized_market)\" title=\"Exchange (organized market)\"\u003eexchanges\u003c/a\u003e, or \u003ca href=\"https://en.wikipedia.org/wiki/Bank\" title=\"Bank\"\u003ebanks\u003c/a\u003e to offer traditional \u003ca href=\"https://en.wikipedia.org/wiki/Financial_instrument\" title=\"Financial instrument\"\u003efinancial instruments\u003c/a\u003e, and instead utilizes \u003ca href=\"https://en.wikipedia.org/wiki/Smart_contract\" title=\"Smart contract\"\u003esmart contracts\u003c/a\u003e on blockchains, the most common being \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e.[\u003ca href=\"https://en.wikipedia.org/wiki/Wikipedia:Citation_needed\" title=\"Wikipedia:Citation needed\"\u003e\u003cem\u003ecitation needed\u003c/em\u003e\u003c/a\u003e] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, insure against risks, and earn \u003ca href=\"https://en.wikipedia.org/wiki/Interest\" title=\"Interest\"\u003einterest\u003c/a\u003e in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-gamefi\"\u003eWhat is GameFi?\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eGameFi\u003c/strong\u003e also known as Game Finance, is the gamification of financial systems to create profit from playing play-to-earn crypto games.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/gamers-assemble-play-games-to-earn-free-crypto/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch2 id=\"what-is-dein\"\u003eWhat is DeIn?\u003c/h2\u003e\n\u003cp\u003eDecentralized Insurance also known as DeIn or DeFi Insurance is where rather than purchasing insurance coverage from one specific individual or company, you can purchase coverage from a decentralized pool of insurance providers. Interestingly, any individual or company can work as an insurance provider by locking up capital in the decentralized capital pool. The individual or company providing capital to the pool can qualify as a \u003ca href=\"https://101blockchains.com/how-liquidity-provider-tokens-work/\"\u003eliquidity provider\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-insurance-built-on-the-blockchain-is-a-game-changer/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"conclusion\"\u003eConclusion\u003c/h3\u003e\n\u003cp\u003eI am a follower of the above simply because of how much disruption of traditional methods blockchain can create. In one way or the other blockchain technology is the future of processing. Currently, as of writing this post, there are Decentralized Supply Chain Management, Decentralized Full Proof Voting, Decentralized Real Estate, Decentralized Data Protection, and Decentralized Loyalty + Royalty Programs.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eLearn more here:\u003c/strong\u003e \u003ca href=\"https://stephenajulu.com/blog/the-importance-and-benefits-of-blockchain-technology/\"\u003e\u003cstrong\u003eThe Importance and Benefits of Blockchain Technology\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eBlockchain \u003cstrong\u003eincreases trust, security, transparency, and the traceability of data shared across a business network\u003c/strong\u003e — and delivers cost savings with new efficiencies. Blockchain for business uses a shared and immutable ledger that can only be accessed by members with permission.\u003c/p\u003e\n","date_published":"2022-08-21T18:20:00+03:00","image":"https://ajulu.netlify.app/images/1644357966865.png","tags":["blockchain","cryptocurrency","token","smart contract","non fungible token","web3","decentralized finance","game finance","decentralized insuarance","crypto","nft","defi","gamefi","dein","cryptocurrencies","tokens","tokenomics"]},{"id":"https://ajulu.netlify.app/posts/cryptocurrency-blockchain-smart-contract-nft-web-3-defi-and-gamefi-101-definition/","url":"https://ajulu.netlify.app/posts/cryptocurrency-blockchain-smart-contract-nft-web-3-defi-and-gamefi-101-definition/","title":"Cryptocurrency, Blockchain, Smart Contract, NFT, Web 3, DeFi and GameFi 101:","summary":"What is a cryptocurrency? A cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don\u0026rsquo;t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\nHere is how you can buy your first cryptocurrency\nWhat is blockchain? A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\n","content_html":"\u003ch3 id=\"what-is-a-cryptocurrency\"\u003eWhat is a cryptocurrency?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003ecryptocurrency\u003c/strong\u003e is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don\u0026rsquo;t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/how-to-buy-your-first-cryptocurrency/\"\u003e\u003cstrong\u003eHere is how you can buy your first cryptocurrency\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-blockchain\"\u003eWhat is blockchain?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003eblockchain\u003c/strong\u003e is a growing list of records, called \u003cem\u003eblocks\u003c/em\u003e, that are linked together using \u003ca href=\"https://en.wikipedia.org/wiki/Cryptography\" title=\"Cryptography\"\u003ecryptography\u003c/a\u003e. Each block contains a \u003ca href=\"https://en.wikipedia.org/wiki/Cryptographic_hash_function\" title=\"Cryptographic hash function\"\u003ecryptographic hash\u003c/a\u003e of the previous block, a \u003ca href=\"https://en.wikipedia.org/wiki/Trusted_timestamping\" title=\"Trusted timestamping\"\u003etimestamp\u003c/a\u003e, and transaction data (generally represented as a \u003ca href=\"https://en.wikipedia.org/wiki/Merkle_tree\" title=\"Merkle tree\"\u003eMerkle tree\u003c/a\u003e). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-is-blockchain-how-does-it-work-blockchain-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-a-smart-contract\"\u003eWhat is a smart contract?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003esmart contract\u003c/strong\u003e is a \u003ca href=\"https://en.wikipedia.org/wiki/Computer_program\" title=\"Computer program\"\u003ecomputer program\u003c/a\u003e or a \u003ca href=\"https://en.wikipedia.org/wiki/Transaction_Protocol_Data_Unit\" title=\"Transaction Protocol Data Unit\"\u003etransaction protocol\u003c/a\u003e that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a \u003ca href=\"https://en.wikipedia.org/wiki/Contract\" title=\"Contract\"\u003econtract\u003c/a\u003e 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\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-smart-contracts-smart-contracts-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-an-nft\"\u003eWhat is an NFT?\u003c/h3\u003e\n\u003cp\u003eA \u003cstrong\u003enon-fungible token\u003c/strong\u003e (\u003cstrong\u003eNFT\u003c/strong\u003e) is a unique and non-interchangeable unit of data stored on a digital \u003ca href=\"https://en.wikipedia.org/wiki/Ledger\" title=\"Ledger\"\u003eledger\u003c/a\u003e (\u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e). NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public \u003ca href=\"https://en.wikipedia.org/wiki/Certificate_of_authenticity\" title=\"Certificate of authenticity\"\u003ecertificate of authenticity\u003c/a\u003e or \u003ca href=\"https://en.wikipedia.org/wiki/Title_(property)\" title=\"Title (property)\"\u003eproof of ownership\u003c/a\u003e, but it does not restrict the sharing or copying of the underlying digital file. The lack of interchangeability (\u003ca href=\"https://en.wikipedia.org/wiki/Fungibility\" title=\"Fungibility\"\u003efungibility\u003c/a\u003e) distinguishes NFTs from blockchain \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, such as \u003ca href=\"https://en.wikipedia.org/wiki/Bitcoin\" title=\"Bitcoin\"\u003eBitcoin\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-web-3\"\u003eWhat is Web 3?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eWeb3,\u003c/strong\u003e also known as \u003cstrong\u003eWeb 3.0\u003c/strong\u003e, is an idea for a new iteration of the \u003ca href=\"https://en.wikipedia.org/wiki/Internet\" title=\"Internet\"\u003eInternet\u003c/a\u003e that is based on public \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchains\u003c/a\u003e. The term was coined in 2014 by \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e co-founder \u003ca href=\"https://en.wikipedia.org/wiki/Gavin_Wood\" title=\"Gavin Wood\"\u003eGavin Wood\u003c/a\u003e, and the idea gained interest in 2020 and 2021 from \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrency\" title=\"Cryptocurrency\"\u003ecryptocurrency\u003c/a\u003e enthusiasts, large technology companies, and venture capitalist firms.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/web-3.0-explained-part-1/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-defi\"\u003eWhat is DeFi?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eDecentralized finance\u003c/strong\u003e (commonly referred to as \u003cstrong\u003eDeFi\u003c/strong\u003e) is a \u003ca href=\"https://en.wikipedia.org/wiki/Blockchain\" title=\"Blockchain\"\u003eblockchain\u003c/a\u003e-based form of finance that does not rely on central financial \u003ca href=\"https://en.wikipedia.org/wiki/Intermediary\" title=\"Intermediary\"\u003eintermediaries\u003c/a\u003e such as \u003ca href=\"https://en.wikipedia.org/wiki/Brokerage\" title=\"Brokerage\"\u003ebrokerages\u003c/a\u003e, \u003ca href=\"https://en.wikipedia.org/wiki/Exchange_(organized_market)\" title=\"Exchange (organized market)\"\u003eexchanges\u003c/a\u003e, or \u003ca href=\"https://en.wikipedia.org/wiki/Bank\" title=\"Bank\"\u003ebanks\u003c/a\u003e to offer traditional \u003ca href=\"https://en.wikipedia.org/wiki/Financial_instrument\" title=\"Financial instrument\"\u003efinancial instruments\u003c/a\u003e, and instead utilizes \u003ca href=\"https://en.wikipedia.org/wiki/Smart_contract\" title=\"Smart contract\"\u003esmart contracts\u003c/a\u003e on blockchains, the most common being \u003ca href=\"https://en.wikipedia.org/wiki/Ethereum\" title=\"Ethereum\"\u003eEthereum\u003c/a\u003e.[\u003ca href=\"https://en.wikipedia.org/wiki/Wikipedia:Citation_needed\" title=\"Wikipedia:Citation needed\"\u003e\u003cem\u003ecitation needed\u003c/em\u003e\u003c/a\u003e] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade \u003ca href=\"https://en.wikipedia.org/wiki/Cryptocurrencies\" title=\"Cryptocurrencies\"\u003ecryptocurrencies\u003c/a\u003e, insure against risks, and earn \u003ca href=\"https://en.wikipedia.org/wiki/Interest\" title=\"Interest\"\u003einterest\u003c/a\u003e in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003ch3 id=\"what-is-gamefi\"\u003eWhat is GameFi?\u003c/h3\u003e\n\u003cp\u003e\u003cstrong\u003eGameFi\u003c/strong\u003e is also known as Game Finance, is the gamification of financial systems to create profit from playing play-to-earn crypto games.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/gamers-assemble-play-games-to-earn-free-crypto/\"\u003e\u003cstrong\u003eLearn more.\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-16T07:15:00+03:00","image":"https://ajulu.netlify.app/images/newhype101definition.png","tags":["cryptocurrency","blockchain","smart contract","nft","web3","nonfungibletoken","decentralizedfinance","defi","gamefi","gamefinance"]},{"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/gamers-assemble-play-games-to-earn-free-crypto/","url":"https://ajulu.netlify.app/posts/gamers-assemble-play-games-to-earn-free-crypto/","title":"Gamers Assemble: Play Games To Earn Crypto! GameFi Explained","summary":"GameFi is one of the hottest new trends to emerge from the crypto industry, combining decentralized finance (DeFi) and non-fungible tokens (NFTs) with blockchain-based online games.\nUnlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “play-to-earn” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a full-time income by doing so.\n","content_html":"\u003cp\u003eGameFi is one of the hottest new trends to emerge from the crypto industry, combining decentralized finance (\u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003eDeFi\u003c/a\u003e) and non-fungible tokens (\u003ca href=\"https://stephenajulu.com/blog/what-are-nfts-non-fungible-tokens-explained/\"\u003eNFTs\u003c/a\u003e) with \u003ca href=\"https://www.coindesk.com/business/2021/08/06/binance-smart-chain-beats-ethereum-by-some-metrics-thanks-to-latest-gamefi-craze/\"\u003eblockchain-based online games\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eUnlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “\u003ca href=\"https://www.coindesk.com/markets/2021/07/29/a-play-to-earn-account-beats-a-bank-account/\"\u003eplay-to-earn\u003c/a\u003e” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a \u003ca href=\"https://www.coindesk.com/business/2021/05/11/for-filipinos-axie-infinity-is-more-than-a-crypto-game/\"\u003efull-time income\u003c/a\u003e by doing so.\u003c/p\u003e\n\u003ch3 id=\"how-it-works\"\u003eHow it works\u003c/h3\u003e\n\u003cp\u003eAll objects in these types of games are expressed as \u003ca href=\"https://www.coindesk.com/tech/2021/03/12/how-to-create-buy-and-sell-nfts/\"\u003eNFTs\u003c/a\u003e – digital tokens used to prove ownership of scarce intangible items. Think of things like plots of land, avatars, costumes, weapons, and gold bars. Once players find and accrue these items through gameplay, many have the option to trade these with others in \u003ca href=\"https://www.coindesk.com/tech/2021/07/12/nft-marketplaces-a-beginners-guide/\"\u003edigital marketplaces\u003c/a\u003e for different NFTs or sell them in exchange for cryptocurrency.\u003c/p\u003e\n\u003cp\u003eDepending on which game is played, users can increase their earning potential by dedicating time leveling up and improving their characters, creating monetized structures on their land that other gamers pay to use, or by competing against others in tournaments.\u003c/p\u003e\n\u003cp\u003eIn order to keep track of what every player owns, all NFTs and cryptocurrency transaction data are stored on a public blockchain. This is a type of \u003ca href=\"https://www.coindesk.com/learn/what-is-a-distributed-ledger/\"\u003edistributed, digital record-keeping\u003c/a\u003e technology maintained by a global network of computers. Leveraging this technology in gaming provides a number of benefits, including:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003ePlayers can easily prove ownership of their in-game items.\u003c/li\u003e\n\u003cli\u003eThere is no single point of failure, meaning players will no longer be at risk of \u003ca href=\"https://pvplive.net/world-of-warcraft-bug-reverting-players-characters/\"\u003elosing track of what they own\u003c/a\u003e if the underlying gaming company experiences technical issues.\u003c/li\u003e\n\u003cli\u003eItems accrued during gameplay cannot be counterfeited, removed, or destroyed.\u003c/li\u003e\n\u003cli\u003eGame-native cryptocurrencies can be sent and received without the need for intermediary settlement, clearing, or custody.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eSome \u003ca href=\"https://mobox.io/#/\"\u003egames\u003c/a\u003e also include DeFi elements such as \u003ca href=\"https://www.coindesk.com/learn/4-tips-to-maximize-your-crypto-investment/\"\u003estaking\u003c/a\u003e, where players can lock away certain tokens in order to earn annual interest, and other rewards they can save to purchase other in-game items or unlock new content.\u003c/p\u003e\n\u003ch3 id=\"what-you-need-to-play\"\u003eWhat you need to play\u003c/h3\u003e\n\u003cp\u003eIn order to take part in any of these play-to-earn games, users will need to do the following:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eCreate a cryptocurrency wallet:\u003c/strong\u003e To store their virtual currency and NFTs, and make in-game transactions. Which wallet you need will depend on which blockchain the game was built upon. For example, MetaMask – an Ethereum-based crypto wallet service – will work with any GameFi game built on Ethereum.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePurchase starter items:\u003c/strong\u003e All GameFi games are free to download. However, many require players to first purchase characters, native crypto tokens, decks of cards, or upgrades in order to begin.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePre-funded crypto wallet:\u003c/strong\u003e You will need to pre-fund your crypto wallet with a particular cryptocurrency in order to purchase starter items and proceed. \u003ca href=\"https://cryptoblades.gitbook.io/wiki/getting-started\"\u003eCryptoblades\u003c/a\u003e, for example, requires users to download \u003ca href=\"https://www.youtube.com/watch?v=2UFIN_ieh6U\"\u003eMetaMask\u003c/a\u003e, purchase Binance coin (BNB) and exchange it for the game’s native cryptocurrency, SKILL.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"where-did-gamefi-come-from\"\u003eWhere did GameFi come from?\u003c/h3\u003e\n\u003cp\u003eThe emergence of GameFi comes from a combination of factors that dates back to 2017 and the emergence of the NFT phenomenon \u003ca href=\"https://www.coindesk.com/markets/2019/09/12/cryptokitties-creator-raises-11-million-from-warner-a16z-to-launch-blockchain/\"\u003eCryptoKitties\u003c/a\u003e. The digital collectibles economy proved a viral success, with CryptoKitties amassing over \u003ca href=\"https://www.coindesk.com/business/2020/03/05/the-team-behind-cryptokitties-is-one-step-closer-to-leaving-ethereum/\"\u003e14,914 users a day\u003c/a\u003e at its peak. CryptoPunks, a collection of 10,000 pixelated NFT characters also built on Ethereum, enjoyed similar success, surpassing\u003ca href=\"https://techcrunch.com/2018/03/20/cryptokitties-raises-12m-from-andreessen-horowitz-and-union-square-ventures/\"\u003e $1 billion in sales \u003c/a\u003eover 2018.\u003c/p\u003e\n\u003cp\u003eUnfortunately, the success of these NFTs showed both the good and bad sides of the state of blockchain technology at the time. Games like CryptoKitties caused heavy congestion on the \u003ca href=\"https://www.coindesk.com/loveable-digital-kittens-clogging-ethereums-blockchain\"\u003eEthereum network, leading to extreme spikes in transaction fees \u003c/a\u003eand much slower than normal transaction confirmation times. These technical issues highlighted a clear gap in the market for more efficient and scalable platforms that could handle the rising demand from online gamers and virtual asset collectors.\u003c/p\u003e\n\u003cp\u003eSince then, a number of new “\u003ca href=\"https://www.coindesk.com/markets/2021/09/01/solanas-sol-token-nearly-tripled-in-august-as-investors-bet-on-ethereum-killers/\"\u003eEthereum killer\u003c/a\u003e” blockchains have emerged that promise faster transaction speeds, greater scalability, and cheaper fees. These include the likes of \u003ca href=\"https://twitter.com/CoinDesk/status/1431980810631061513?ref_src=twsrc%5Etfw\"\u003eSolana\u003c/a\u003e and \u003ca href=\"https://www.coindesk.com/markets/2021/08/19/cardano-nears-all-time-high-as-investors-await-smart-contracts/\"\u003eCardano\u003c/a\u003e, both of which have recently set new \u003ca href=\"https://www.coindesk.com/markets/2021/08/20/cardano-price-hits-all-time-high-overtakes-binance-coin-as-third-most-valuable-crypto/\"\u003eall-time highs\u003c/a\u003e as investors \u003ca href=\"https://www.coindesk.com/markets/2021/08/16/solana-terra-hit-all-time-highs-as-markets-disregard-last-weeks-defi-hacks/\"\u003ebet big\u003c/a\u003e on new dapp competitors.\u003c/p\u003e\n\u003cp\u003eThe proliferation of decentralized finance (\u003ca href=\"https://www.coindesk.com/what-is-defi\"\u003eDeFi\u003c/a\u003e) platforms over 2020 was the next critical component enabling GameFi’s growth, introducing a range of blockchain-native financial platforms that run entirely using smart contracts. This provided the infrastructure for decentralized exchanges where in-game cryptocurrencies could be launched from and traded, as well as additional features like \u003ca href=\"https://www.coindesk.com/tech/2021/07/13/defi-lending-3-major-risks-to-know/\"\u003elending\u003c/a\u003e and \u003ca href=\"https://www.coindesk.com/markets/2020/08/20/binance-launches-defi-staking-with-cryptos-kava-and-dai/\"\u003estaking\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eIn September 2020, \u003ca href=\"https://www.coindesk.com/what-is-yearn-finance-yfi-defi-ethereum\"\u003eYearn.finance\u003c/a\u003e founder and DeFi developer Andre Conje tweeted about the \u003ca href=\"https://twitter.com/AndreCronjeTech/status/1303969754907107329\"\u003egamification of monetary policies\u003c/a\u003e in a decentralized environment. He recognized the multiple benefits DeFi and NFTs could bring to the online gaming industry, and GameFi applications quickly started to form. Axie Infinity was one of the first play-to-earn games to take off in a big way, surpassing \u003ca href=\"https://twitter.com/news_of_bsc/status/1424686970442223617?lang=en\"\u003e$1 billion in revenue\u003c/a\u003e on Aug. 9, 2021.\u003c/p\u003e\n\u003cp\u003eComing Soon: \u003cstrong\u003eTop GameFi Games\u003c/strong\u003e\u003c/p\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":"2021-12-09T16:35:00+03:00","image":"https://ajulu.netlify.app/images/gamefi.jpg","tags":["technology","gaming","metaverse","crypto","cryptocurrencies","play to earn","play games","games","play","earn","play2earn","cryptocurrency","digital currency","currency","online gaming","defi","nft","decentralized finance","non fungible tokens","play to earn","blockchain","metamask","ethereum","solana","cardano"]},{"id":"https://ajulu.netlify.app/posts/don-t-just-hodl-crypto-make-money-while-you-sleep-with-it/","url":"https://ajulu.netlify.app/posts/don-t-just-hodl-crypto-make-money-while-you-sleep-with-it/","title":"Don't Just HODL Crypto Make Money While You Sleep With It","summary":"Passive income is money generated from ventures in which an individual is not actively involved. For the most part, all you need to do is invest your money or digital assets in a particular crypto investment strategy or platform and watch it generate profit. In some cases, the earnings are fixed and predictable. In others, several factors beyond your control may come into play.\nA typical way many try to make a return in crypto with little to no involvement is through buying and holding crypto – also known in the industry as “HODLing.” This means an investor is prepared to purchase a digital asset with the mindset that its price will hopefully rise significantly sometime in the future. Such investors are ready to go the distance as this long-term strategy might require them to hold their positions anywhere between six months to five years. Through the duration of this investment, an investor does not have to be proactive in the crypto market. They only need to buy the digital asset and store it in a secure wallet – preferably a non-custodial wallet.\n","content_html":"\u003cp\u003ePassive income is money generated from ventures in which an individual is not actively involved. For the most part, all you need to do is invest your money or digital assets in a particular crypto investment strategy or platform and watch it generate profit. In some cases, the earnings are fixed and predictable. In others, several factors beyond your control may come into play.\u003c/p\u003e\n\u003cp\u003eA typical way many try to make a return in crypto with little to no involvement is through buying and holding crypto – also known in the industry as “HODLing.” This means an investor is prepared to purchase a digital asset with the mindset that its price will hopefully rise significantly sometime in the future. Such investors are ready to go the distance as this long-term strategy might require them to hold their positions anywhere between six months to five years. Through the duration of this investment, an investor does not have to be proactive in the crypto market. They only need to buy the digital asset and store it in a secure wallet – preferably a non-custodial wallet.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eA wallet is a device or app where you can store a special key (private key) that gives access to your cryptocurrencies. The non-custodial variants let you store the private key in your personal devices, including a computer, mobile phone, or purpose-built wallet devices. With this, you have complete control over your private keys and, ultimately, your digital assets. By comparison, with a custodial wallet, a third party controls your private keys.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eHowever, simply buying and holding a crypto asset for any length of time does not guarantee you will make a profit. In fact, it’s very possible you could lose money. As such, exclusively HODLing crypto cannot be considered a truly passive income generator.\u003c/p\u003e\n\u003ch3 id=\"proof-of-stake-pos-staking\"\u003eProof-of-stake (PoS) staking\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://stephenajulu.com/blog/what-is-proof-of-stake-proof-of-stake-explained/\"\u003eProof-of-stake\u003c/a\u003e is a type of blockchain consensus mechanism designed to allow distributed network participants to reach an agreement on new data entering the blockchain. Note that blockchains enable open and decentralized networks where participants contribute to governance and processes involved in validating transactions. This is critical because such a community-focused approach eliminates the need for central authorities like banks. In most cases, blockchains randomly pick participants, elevate them to the status of validators, and reward them for their efforts.\u003c/p\u003e\n\u003cp\u003eThe systems used to pick validators vary from blockchain to blockchain. Some blockchain networks require users to deposit or commit their financial resources to the network. Here, the blockchain selects validators from a pool of users that have staked a specified sum of its native digital asset. In return, validators earn interest on the staked funds for contributing to the validity of the network. This validation mechanism is what is called proof-of-stake. It provides an opportunity for holders (those in it for the long haul) to generate passive income.\u003c/p\u003e\n\u003cp\u003eKnowing fully well that transaction validation might be technically tasking, you could opt for PoS blockchains that allow you to delegate your stakes to other participants who are ready to take up the technical requirements of staking. Understandably, the reward distributed to validators is slightly higher than that of a delegator. Some of the PoS blockchains you could consider are:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca href=\"https://www.coindesk.com/price/cardano/\"\u003eCardano\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.coindesk.com/price/ethereum/\"\u003eEthereum 2.0\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.coindesk.com/price/polkadot/\"\u003ePolkadot\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.coindesk.com/learn/solana/\"\u003eSolana\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eFor even more convenience, you could adopt one of the several \u003ca href=\"https://defiprime.com/staking\"\u003estaking services \u003c/a\u003eavailable today. With these platforms, you can deposit a fraction of the number of digital assets required by the blockchain. For example, you normally have to deposit a minimum of \u003ca href=\"https://www.coindesk.com/how-does-ethereum-staking-work\"\u003e32 ETH\u003c/a\u003e on the \u003ca href=\"https://www.coindesk.com/tech/2020/07/24/everything-you-need-to-know-about-ethereum-20/\"\u003eEthereum 2.0 \u003c/a\u003eblockchain to become a validator. With a third-party Ethereum staking service, however, you could deposit as little as 5 ETH to start accruing interest.\u003c/p\u003e\n\u003ch3 id=\"interest-bearing-digital-asset-accounts\"\u003eInterest-bearing digital asset accounts\u003c/h3\u003e\n\u003cp\u003eHolders can take advantage of interest-bearing crypto accounts to earn fixed interest on their idle digital assets. Think of this as putting money in an interest-earning bank account. The only difference is that this service supports only crypto deposits. Instead of holding digital assets in your wallets, you can deposit them in these accounts and receive daily, weekly, monthly or yearly earnings, depending on the predefined interest rates. Crypto service providers that offer such products include:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca href=\"https://nexo.io/\"\u003eNexo\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://celsius.network/\"\u003eCelsius Network\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://swissborg.com/\"\u003eSwissBorg\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://blockfi.com/\"\u003eBlockFi\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"lending\"\u003eLending\u003c/h3\u003e\n\u003cp\u003eLending has become one of the most popular crypto services in both the centralized and decentralized segments of the crypto industry. As an investor, you can lend your digital assets to borrowers for a chance to earn interest. There are four main lending strategies you could opt for:\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003ePeer-to-peer lending:\u003c/strong\u003e Platforms that provide such services enable systems that allow users to set their terms, decide the amount they want to lend and the interest they intend to generate on loans. The platform matches lenders with borrowers, similar to how P2P (peer-to-peer) trading platforms match buyers and sellers. Such lending systems provide users with a certain degree of control when it comes to crypto lending. However, you have to deposit your digital asset on the lending platform’s custodial wallet beforehand.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eCentralized lending:\u003c/strong\u003e In this strategy, you rely solely on the lending infrastructure of third parties. Here, the interest rates are fixed, so are the lock-up periods. Like P2P lending, you have to transfer your crypto to the lending platform to start earning interest.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eDecentralized or DeFi lending:\u003c/strong\u003e This strategy allows users to execute lending services directly on the blockchain. Unlike the P2P and centralized lending strategies, there are no intermediaries involved in \u003ca href=\"https://www.coindesk.com/defi-lending-3-major-risks-to-know\"\u003eDeFi lending\u003c/a\u003e. Instead, lenders and borrowers interact with programmable and self-executing contracts (also known as smart contracts), which autonomously and periodically set interest rates.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eMargin lending:\u003c/strong\u003e Lastly, you could lend your crypto assets to traders interested in using borrowed funds to trade. These traders amplify their trading position with borrowed funds and repay the loans with interest. In this case, crypto exchanges do most of the work on your behalf. All you need to do is make your digital asset available.\u003c/p\u003e\n\u003ch3 id=\"cloud-mining\"\u003eCloud mining\u003c/h3\u003e\n\u003cp\u003eUnlike the proof-of-stake mechanism explained earlier, some blockchains, including \u003ca href=\"https://www.coindesk.com/learn/what-is-bitcoin/\"\u003eBitcoin\u003c/a\u003e, opt for a more \u003ca href=\"https://www.coindesk.com/tech/2020/12/16/what-is-proof-of-work/\"\u003ecomputer-intensive approach\u003c/a\u003e where users need to prove the eligibility of their claim to become validators (more commonly called miners) by competing against each other to solve highly complex mathematical puzzles. This process is called \u003ca href=\"https://www.coindesk.com/learn/bitcoin-101/how-bitcoin-mining-works/\"\u003ecrypto mining\u003c/a\u003e. Due to the competitiveness of this consensus mechanism, miners have to invest in powerful computers and pay exorbitant electricity bills.\u003c/p\u003e\n\u003cp\u003eUndoubtedly, this venture is time-consuming and technical. And so, investors often opt for an alternate approach called cloud mining. With this, you can pay third parties to take up the technical aspect of crypto mining on your behalf. In essence, you pay a platform that offers such services a lump sum to rent or buy mining machines from their mining facilities. After this first payment, you might have to pay a daily maintenance fee so that the cloud mining service provider can help you manage your mining rigs.\u003c/p\u003e\n\u003cp\u003eAs exciting as this sounds, it comes with lots of risks. \u003ca href=\"https://www.coindesk.com/tech/2021/05/07/amazon-offers-mining-in-the-cloud-for-new-chia-cryptocurrency/\"\u003eCloud mining\u003c/a\u003e has been a subject of controversy ever since it became widely adopted. There have been several cases of scams due to the remote nature of this mining venture. Therefore, you should carry out due diligence before opting for this option.\u003c/p\u003e\n\u003ch3 id=\"dividend-earning-tokens\"\u003eDividend-earning tokens\u003c/h3\u003e\n\u003cp\u003eCertain tokens offer holders a fraction of the revenue of the company that issued them. All you need to do is hold the token, and you are automatically eligible to receive a certain percentage of the company’s revenue. The number of tokens you own determines the share of the revenue you would receive. An example of this is KuCoin Shares (KCS), where holders receive a daily share of transaction fees accrued by the KuCoin blockchain asset \u003ca href=\"https://www.coindesk.com/markets/2021/08/25/kucoin-launches-proof-of-work-mining-pool/\"\u003eexchange\u003c/a\u003e. The amount received is proportional to the amount of KCS tokens each holder stakes.\u003c/p\u003e\n\u003ch3 id=\"yield-farming\"\u003eYield farming\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://www.coindesk.com/defi-yield-farming-comp-token-explained\"\u003eYield farming\u003c/a\u003e is another decentralized, or \u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003eDeFi, \u003c/a\u003emethod of earning passive crypto income. This is made possible by the dynamic operations of decentralized exchanges, which are basically trading platforms where users rely on the combination of smart contracts (programmable and self-executing computer contracts) and investors for the liquidity necessary to execute trades. Here, users do not trade against brokers or other traders. Instead, they trade against funds deposited by investors – known as liquidity providers – into special smart contracts known as liquidity pools. In turn, liquidity providers receive a proportional amount of trading fees from the pool.\u003c/p\u003e\n\u003cp\u003eTo start earning passive income via this system you first have to take up the role of a liquidity provider (LP) on a DeFi exchange such as Uniswap, Aave, or PancakeSwap.\u003c/p\u003e\n\u003cp\u003eTo start earning these fees, you have to deposit a specified ratio of two or more digital assets into a liquidity pool.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eFor example, in order to provide liquidity to an ETH/USDT pool, you will need to deposit both ETH and USDT tokens into it.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eOnce you deposit liquidity, the decentralized exchange will transfer LP tokens representing your share of the total funds locked in the liquidity pool. You can then stake these LP tokens using supported decentralized lending platforms and earn additional interest. This strategy allows you to earn two separate interest rates from a single deposit.\u003c/p\u003e\n\u003cp\u003eThe crypto passive income opportunities listed in this guide are just some of the many ways you can make extra profit with your idle digital assets. Note that none of these opportunities are risk-free. Hence, it is advisable to carry out your own research, seek professional guidance from a qualified financial advisor, and determine what best suits your investment goals.\u003c/p\u003e\n\u003cp\u003eI\u0026rsquo;d like to introduce to you: \u003ca href=\"https://accounts.binance.com/en/register?ref=CL2JFAB6\"\u003eBinance\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eThe best crypto exchange. \u003ca href=\"https://accounts.binance.com/en/register?ref=CL2JFAB6\"\u003eBinance\u003c/a\u003e has a specific feature known as the Binance Vault that enables you to earn passive income on the crypto you hold with relatively low risk. With Binance, you can just buy crypto, add it to your Earn Vault and sleep knowing your crypto is growing.\u003c/p\u003e\n\u003cp\u003eTo use this, kindly register with Binance using this link: \u003ca href=\"https://accounts.binance.com/en/register?ref=CL2JFAB6\"\u003eRegister With Binance and Get 20%\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eSource: \u003ca href=\"https://www.coindesk.com/learn/top-6-crypto-passive-income-generators-for-2021/\"\u003eCoinDesk\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-12-09T14:53:00+03:00","image":"https://ajulu.netlify.app/images/1_cc8xg5pc8lf5id8u_vu0fw.jpeg","tags":["finance","technology","staking","lending","lenders","cryptocurrencies","crypto","cryptocurrency","passive income","fire","financial freedom","assets","defi","decentralizedfinance","mining","yield farming"]},{"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/6-cryptocurrencies-blockchains-with-massive-potential/","url":"https://ajulu.netlify.app/posts/6-cryptocurrencies-blockchains-with-massive-potential/","title":"6 Blockchains With Massive Potential","summary":" Ethereum(ETH) - Specifically Ethereum 2.0 Solana(SOL) Cardano(ADA) Polygon(MATIC) Binance Smart Chain(BNB) Polkadot(DOT) You\u0026rsquo;ll find that these blockchains and cryptocurrencies are being used to create more cryptocurrencies and blockchains. Most are also involved in the metaverse and web 3.0 development.\nBuy their cryptocurrencies by registering here: BINANCE\nNB: NOT FINANCIAL ADVICE!\n","content_html":"\u003col\u003e\n\u003cli\u003eEthereum(ETH) - Specifically Ethereum 2.0\u003c/li\u003e\n\u003cli\u003eSolana(SOL)\u003c/li\u003e\n\u003cli\u003eCardano(ADA)\u003c/li\u003e\n\u003cli\u003ePolygon(MATIC)\u003c/li\u003e\n\u003cli\u003eBinance Smart Chain(BNB)\u003c/li\u003e\n\u003cli\u003ePolkadot(DOT)\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eYou\u0026rsquo;ll find that these blockchains and cryptocurrencies are being used to create more cryptocurrencies and blockchains. Most are also involved in the metaverse and web 3.0 development.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eBuy their cryptocurrencies by registering here:\u003c/strong\u003e \u003ca href=\"https://accounts.binance.com/en/register?ref=CL2JFAB6\"\u003e\u003cstrong\u003eBINANCE\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eNB: NOT FINANCIAL ADVICE!\u003c/p\u003e\n","date_published":"2021-12-04T15:01:00+03:00","image":"https://ajulu.netlify.app/images/b0ac64ca-9452-4ee2-b6fe-6ecbe8eeaddd.png","tags":["technology","metaverse","web3","defi","decentralized finance","blockchain","cryptocurrency","blockchains","cryptocurrencies","future","scifi"]},{"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/more-applications-of-decentralized-finance-defi/","url":"https://ajulu.netlify.app/posts/more-applications-of-decentralized-finance-defi/","title":"More Applications of Decentralized Finance(DeFi)","summary":"Refresher: DeFi 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.\nAsset Management One of the biggest impacts of Defi is that users can now enjoy more control of their own assets. Many of the top DeFi projects are offering solutions that allow the users to manage their assets, including — buying, selling, and transferring digital assets. Thus, the users can even earn interest from their digital assets too.\n","content_html":"\u003ch3 id=\"refresher\"\u003eRefresher:\u003c/h3\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\u003ch4 id=\"asset-management\"\u003eAsset Management\u003c/h4\u003e\n\u003cp\u003eOne of the biggest impacts of Defi is that users can now enjoy more control of their own assets. Many of the top DeFi projects are offering solutions that allow the users to manage their assets, including — buying, selling, and transferring digital assets. Thus, the users can even earn interest from their digital assets too.\u003c/p\u003e\n\u003cp\u003eOn contrary to the traditional financial system, DeFi allows users to maintain the privacy of their sensitive data. Think of the private keys or passwords for your financial accounts — you had to share that information with relevant organizations earlier.\u003c/p\u003e\n\u003cp\u003eNow, different DeFi projects, like Metamask, Argent, or Gnosis Safe are helping the users to encrypt and store those pieces of information on their personal devices. This ensures that only the users have the access to their accounts and can manage their assets. So, asset management is one of the most practical decentralized finance uses cases to the users.\u003c/p\u003e\n\u003ch4 id=\"complying-to-aml-and-cft-measurements-through-kyt-mechanism\"\u003eComplying to AML and CFT Measurements through KYT Mechanism\u003c/h4\u003e\n\u003cp\u003eTraditional financial systems focus heavily on Know-Your-Customer (KYC) protocols. KYC guidelines are its biggest compliance tool for implementing Anti-Money Laundering (AML) and Countering-the-Financing-of-Terrorism (CFT) measurements.\u003c/p\u003e\n\u003cp\u003eHowever, KYC guidelines often contradict the privacy efforts of DeFi. DeFi answers this issue with a newer concept called — Know-Your-Transaction (KYT) mechanism. This mechanism suggests that the decentralized infrastructure would focus on transaction behaviors digital addresses rather than the identity of the users.\u003c/p\u003e\n\u003cp\u003eSo, KYT solves two issues at the same time — monitoring the real-time behavior of the transactions and ensuring the privacy of the users. This makes KYT one of the major scopes for decentralized finance use cases.\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003e\u003cstrong\u003eRead More:\u003c/strong\u003e \u003ca href=\"https://stephenajulu.com/blog/decentralized-finance-defined/\"\u003eWhat is DeFi?\u003c/a\u003e\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003ch4 id=\"decentralized-autonomous-organizations-or-daos\"\u003eDecentralized Autonomous Organizations or DAOs\u003c/h4\u003e\n\u003cp\u003eThe DAOs are the counterpart of centralized financial organizations in DeFi — making it one of the pillars of decentralized finance use cases.\u003c/p\u003e\n\u003cp\u003eIn the traditional system, centralized financial organizations play a massive role. These organizations serve as administrative entities that manage the core financial operations, such as — fundraising, managing assets, implementing governance, etc.\u003c/p\u003e\n\u003cp\u003eThe Ethereum blockchain ecosystem introduced decentralized organizations to serve the same goals. However, DAOs are by nature decentralized and don’t adhere to the boundaries imposed by central governments or authorities.\u003c/p\u003e\n\u003ch4 id=\"analytics-and-risk-management-tools\"\u003eAnalytics and Risk Management Tools\u003c/h4\u003e\n\u003cp\u003eTransparency and decentralization paved the way to discover and analyze an unprecedented amount of data for the users. With access to these data, users can make well-informed business decisions, discover new financial opportunities, and adopt better risk management tactics.\u003c/p\u003e\n\u003cp\u003eA new breed of data analytics with useful blockchain tools and dashboards has emerged from this industry trend. DeFi projects like DeFi Pulse or CoDeFi Data are bringing an impressive amount of value with analytics and risk management tool.\u003c/p\u003e\n\u003cp\u003eNow, businesses have become more agile as they are enjoying unforeseen competitive advantages. This is surely one of the more impacting decentralized finance use cases.\u003c/p\u003e\n\u003ch4 id=\"derivatives-and-synthetic-assets\"\u003eDerivatives and Synthetic Assets\u003c/h4\u003e\n\u003cp\u003eSmart contracts allow the creation of tokenized derivatives and it has become one of the most unique DeFi use cases. Tokenizing a derivative means setting the value of a contract based on an underlying financial asset or a set of assets. This underlying financial asset works like a traditional security, meaning it could include — bonds, fiat currencies, commodities, market indexes, interest rates, or stock prices.\u003c/p\u003e\n\u003cp\u003eNow, tokenization of derivatives is secondary securities, and their value changes with the value of the primary securities (bonds or fiat currencies). Thus, derivatives are essentially creating synthetic assets.\u003c/p\u003e\n\u003cp\u003eSynthetix and dYdX are some of the leading DeFi projects focused on tokenized derivatives.\u003c/p\u003e\n\u003ch4 id=\"the-network-effect-of-infrastructure-tooling\"\u003eThe Network Effect of Infrastructure Tooling\u003c/h4\u003e\n\u003cp\u003eIn the DeFi ecosystem, the components within a system can connect and interoperate. This design feature is known as composability and acts as a core infrastructure development protocol. As a result, DeFi projects are continuously integrated through a network effect.\u003c/p\u003e\n\u003cp\u003eThe infrastructure tools are notable DeFi use cases. Different DeFi projects, such as — TruffleSuite or InfuraAPI, are good examples in this case.\u003c/p\u003e\n\u003ch4 id=\"improved-digital-identity\"\u003eImproved Digital Identity\u003c/h4\u003e\n\u003cp\u003eBlockchain-based digital identity systems are already getting much traction in recent times. Pairing DeFi protocols with these identity systems could help people access the global economic system.\u003c/p\u003e\n\u003cp\u003eThe traditional approach prizes one’s income or accumulated asset as the nominators for creditworthiness. With DeFi-paired digital identity, it’s possible to consider the other practical attributes, such as — financial activities or professional prowess.\u003c/p\u003e\n\u003cp\u003eThis new type of digital identity could help the underprivileged to access the DeFi applications from anywhere with an internet connection. It could surely be one of the potential use cases.\u003c/p\u003e\n\u003ch4 id=\"insurance\"\u003eInsurance\u003c/h4\u003e\n\u003cp\u003eInsurance is one of the major financial industries and has already proven to be one of the major DeFi use cases. The current insurance system is bottlenecked with an abundance of paperwork, age-old audit systems, and bureaucratic insurance claiming procedures.\u003c/p\u003e\n\u003cp\u003eWith the successful implementation of smart contracts, all of these issues with the current system could be solved.\u003c/p\u003e\n\u003cp\u003eMany DeFi projects (Nexus Mutual, Opyn, and VouchForMe) are even offering blockchain for insurance coverage against DeFi or smart contract risks.\u003c/p\u003e\n\u003ch4 id=\"p2p-borrowing-and-lending\"\u003eP2P Borrowing and Lending\u003c/h4\u003e\n\u003cp\u003eAs DeFi is saying goodbye to the traditional banking systems, a vacuum for the borrowing and lending market has emerged. So, borrowing and lending protocol is one of the vital DeFi use cases.\u003c/p\u003e\n\u003cp\u003eHowever, the DeFi ecosystem is more suitable for peer-to-peer (P2P) borrowing and lending efforts. Multiple DeFi projects have already entered the market focusing on this particular use case. Among these projects, Compound and PoolTogether are two well-known names. These projects have autonomous interest-based protocols for borrowing and lending assets.\u003c/p\u003e\n\u003ch4 id=\"payment-solutions\"\u003ePayment Solutions\u003c/h4\u003e\n\u003cp\u003eOne of the core drivers for DeFi was serving the unbanked or underbanked from the get-go. The inherent traits of DeFi make it well-suited for solving the issues of the current global payment systems. DeFi offers faster, safer, and more transparent solutions compared to legacy systems.\u003c/p\u003e\n\u003cp\u003eAs DeFi drops down the need for middlemen, making payments simpler and more transparent, the DeFi-based blockchain in payment solutions could become appealing to the unbanked population.\u003c/p\u003e\n\u003ch4 id=\"gaming-and-esports\"\u003eGaming and eSports\u003c/h4\u003e\n\u003cp\u003eLong gone are the days, when video games were nothing but a form of entertainment. Most of the new video games have in-app purchases and loot box features in them. These features enable users to use real-life currency to buy new skins for their characters and tools.\u003c/p\u003e\n\u003cp\u003eWith the use of DeFi, game developers can implement the newer incentive or reward models with DeFi coins. In fact, gaming and eSports will likely become one of the major markets as the users are more tech-savvy and open to newer technologies.\u003c/p\u003e\n\u003ch4 id=\"margin-trading\"\u003eMargin Trading\u003c/h4\u003e\n\u003cp\u003eMargin trading is a common feature of the traditional trading system. In simpler terms, it refers to the act of borrowing money from the brokers to invest and gain short-term gain.\u003c/p\u003e\n\u003cp\u003eWith the use of DeFi, traders don’t need to rely on brokers to borrow. Instead, they could smart contracts to enforce decentralized and non-custodial lending protocols. DeFi projects, such as Compound and dYdX have already implemented such lending blockchain protocols. Some are referring to this practice as — the autonomous money markets.\u003c/p\u003e\n\u003ch4 id=\"prediction-platforms\"\u003ePrediction Platforms\u003c/h4\u003e\n\u003cp\u003eDespite the stigma around the concept, prediction platforms and the market are very large and attract many users. The rise and use of DeFi, has created an opportunity to develop DeFi-based prediction platforms where users could trade value by forecasting or predicting the outcome of future events. These prediction platforms are peer-to-peer, decentralized, and offer global access.\u003c/p\u003e\n\u003cp\u003eAugur is one of the leaders in the DeFi ecosystem that specialize in the prediction market. This platform allows the users to place bets on events like — sports, world events, economics, election results, and more.\u003c/p\u003e\n\u003ch4 id=\"savings\"\u003eSavings\u003c/h4\u003e\n\u003cp\u003eDue to the high inflation rate of fiat currencies and the low-interest rates, saving money has become a challenge in the current economy. In fact, the risk-averse middle-class citizens around the world are desperately seeking alternate investment/savings solutions.\u003c/p\u003e\n\u003cp\u003eDifferent decentralized finance (DeFi) projects have taken the opportunity to introduce new solutions. Projects like PoolTogether, Dharma, or Argent are showing promises with their no-loss savings ideology.\u003c/p\u003e\n\u003ch1\u003e\u003c/h1\u003e\n\u003ch3 id=\"tokenization\"\u003eTokenization\u003c/h3\u003e\n\u003cp\u003eAsset tokenization is one of the core features of the DeFi ecosystem. Tokenization is the process of — creating, issuing, and managing digital assets on a blockchain network. As any kind of asset could be tokenized and stored on a blockchain, it is essentially creating a new form of economy.\u003c/p\u003e\n\u003cp\u003eFor example, the NFTs are tokenizing unique digital assets that hold value based on the rarity and the demand for any particular digital asset. A plethora of decentralized finance projects are working on tokenizing digital assets for creating, storing, or trading value.\u003c/p\u003e\n\u003cp\u003eSource: \u003ca href=\"https://101blockchains.com/defi-use-cases/\"\u003e101Blockchains\u003c/a\u003e\u003c/p\u003e\n\u003c!-- raw html --\u003e \u003ca href=\"https://101blockchains.com/blockchain-infographics/\"\u003e\u003cimg src=\"https://101blockchains.com/wp-content/uploads/2021/05/top-defi-use-cases.png\" alt=\"top defi use cases\" border='0' width=\"600px\"/\u003e \u003c/a\u003e","date_published":"2021-11-29T10:48:00+03:00","image":"https://ajulu.netlify.app/images/10-defi-coins.jpg","tags":["defi","decentralized finance","finance","technology","tech","financial technology","fintech","blockchain"]},{"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/the-3-cryptocurrencies-you-should-definitely-invest-in/","url":"https://ajulu.netlify.app/posts/the-3-cryptocurrencies-you-should-definitely-invest-in/","title":"The 3 Cryptocurrencies You Should Definitely Invest In and More","summary":"Hi there, here are 3 cryptocurrencies I believe you should invest in right now before the end of 2021\nEthereum(ETH) With the advent of WEB 3.0 and Ethereum 2.0, Ethereum is set to become the most popular and most used cryptocurrency. Then there\u0026rsquo;s the Ethereum Naming Service. Look just own 0.01 of ETH. Please do. Ethereum is that crypto that has so much potential. It can be used for so many things. Most metaverse tokens are built on Ethereum. Most Defi tokens are built on Ethereum. This should tell you something about the coin. So just make an effort to own this. Even just 0.01 ETH. That\u0026rsquo;s enough.\n","content_html":"\u003cp\u003eHi there, here are 3 cryptocurrencies I believe you should invest in right now before the end of 2021\u003c/p\u003e\n\u003ch2 id=\"ethereumeth\"\u003eEthereum(ETH)\u003c/h2\u003e\n\u003cp\u003eWith the advent of \u003cstrong\u003eWEB 3.0\u003c/strong\u003e and \u003cstrong\u003eEthereum 2.0\u003c/strong\u003e, Ethereum is set to become the most popular and most used cryptocurrency. Then there\u0026rsquo;s the \u003cstrong\u003eEthereum Naming Service\u003c/strong\u003e. Look just own 0.01 of ETH. Please do. Ethereum is that crypto that has so much potential. It can be used for so many things. Most metaverse tokens are built on Ethereum. Most Defi tokens are built on Ethereum. This should tell you something about the coin. So just make an effort to own this. Even just 0.01 ETH. That\u0026rsquo;s enough.\u003c/p\u003e\n\u003ch2 id=\"bitcoinbtc\"\u003eBitcoin(BTC)\u003c/h2\u003e\n\u003cp\u003eBitcoin is the biggest crypto right now and it still has the potential to grow. Buy it now and forget about it.\u003c/p\u003e\n\u003ch2 id=\"metaverse-index-tokenmvi\"\u003eMetaverse Index Token(MVI)\u003c/h2\u003e\n\u003cp\u003eThe metaverse is hyped right now. I believe it\u0026rsquo;s going to continue to grow. Buy this and you should be good.\u003c/p\u003e\n\u003cp\u003eOthers to include that have potential: Dogecoin, Solana, Decentraland, Binance Coin, Uniswap, Binance USD, and Shiba Inu\u003c/p\u003e\n\u003cp\u003eNB: This article is not financial advice. Do your research. I recommend you start with Web 3.0, Metaverse, and Defi.\u003c/p\u003e\n\u003cp\u003eTo finalize, if you’d like to invest in the aforementioned cryptocurrencies then invest with Binance and get 5%: \u003ca href=\"https://www.jadeblack.co/?ref=kuzqn53jomp-\"\u003e\u003cstrong\u003eBuy and Trade Crypto With The Best Exchange: Binance\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eHave a great day everyone!\u003c/p\u003e\n\u003cp\u003ePhoto by \u003ca href=\"https://unsplash.com/@executium?utm_source=unsplash\u0026amp;utm_medium=referral\u0026amp;utm_content=creditCopyText\"\u003eExecutium\u003c/a\u003e on \u003ca href=\"https://unsplash.com/?utm_source=unsplash\u0026amp;utm_medium=referral\u0026amp;utm_content=creditCopyText\"\u003eUnsplash\u003c/a\u003e\u003c/p\u003e\n","date_published":"2021-11-20T14:36:00+03:00","image":"https://ajulu.netlify.app/images/executium-ltazfutkcl8-unsplash.jpg","tags":["investment","investments","cryptocurrencies","crypto","cryptocurrency","ethereum","eth","btc","bitcoin","metaverse","metaverse index token","mvi","defi","web 3.0","ethereum naming service","defi","decentralized finance"]},{"id":"https://ajulu.netlify.app/posts/future-industries-and-sectors/","url":"https://ajulu.netlify.app/posts/future-industries-and-sectors/","title":"Future Industries and Sectors","summary":" Artificial Intelligence Cyber Security Blockchain Clean Energy Virtual, Augmented, and Mixed Reality Metaverse Cryptocurrencies Decentralized Manufacturing/Home-based Manufacturing Natural Plant Medications and Supplements(Including microdose psychedelic and THC/CBD therapy) Decentralized Finance Biotechnology Neurotechnology (Think Neuralink or Fully Immersive VR) Nanotechnology Space Technology Cloud Computing Web3/Decentralized Web Science Fiction is slowly becoming non-fiction\nThese are the industries I believe will shape the future. Many in this list are already in use now. I\u0026rsquo;ll explain each at a later time. For now, have a nice day!\n","content_html":"\u003col\u003e\n\u003cli\u003eArtificial Intelligence\u003c/li\u003e\n\u003cli\u003eCyber Security\u003c/li\u003e\n\u003cli\u003eBlockchain\u003c/li\u003e\n\u003cli\u003eClean Energy\u003c/li\u003e\n\u003cli\u003eVirtual, Augmented, and Mixed Reality\u003c/li\u003e\n\u003cli\u003eMetaverse\u003c/li\u003e\n\u003cli\u003eCryptocurrencies\u003c/li\u003e\n\u003cli\u003eDecentralized Manufacturing/Home-based Manufacturing\u003c/li\u003e\n\u003cli\u003eNatural Plant Medications and Supplements(Including microdose psychedelic and THC/CBD therapy)\u003c/li\u003e\n\u003cli\u003eDecentralized Finance\u003c/li\u003e\n\u003cli\u003eBiotechnology\u003c/li\u003e\n\u003cli\u003eNeurotechnology (Think Neuralink or Fully Immersive VR)\u003c/li\u003e\n\u003cli\u003eNanotechnology\u003c/li\u003e\n\u003cli\u003eSpace Technology\u003c/li\u003e\n\u003cli\u003eCloud Computing\u003c/li\u003e\n\u003cli\u003eWeb3/Decentralized Web\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eScience Fiction is slowly becoming non-fiction\u003c/p\u003e\n\u003cp\u003eThese are the industries I believe will shape the future. Many in this list are already in use now. I\u0026rsquo;ll explain each at a later time. For now, have a nice day!\u003c/p\u003e\n","date_published":"2021-11-07T12:18:00+03:00","image":"https://ajulu.netlify.app/images/file-20210806-17-jibbct.jpg","tags":["metaverse","virtual reality","augmented reality","mixed reality","cryptocurrencies","cyber security","blockchain","decentralized finance","defi","vr","ar","mr","digital land","clean energy","fusion","ai","artificial intelligence","2022","2023","2024","2025","2030","2021","decentralized manufacturing","THC","CBD","natural plant medicine","psychedelic therapy","biotechnology"," neurotechnology","neuralink"]}]}