xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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I tried to explain what Token is in comic strips.
TL;DR
I explained what the token is and how the comic can present the idea in such a way.
Some Takeaway
The idea of a token is similar to cryptocurrency or cryptoasset. Only the difference is that the token refers to Bitcoin and Ethereum. They are more toward cryptocurrency that particularly runs on the top of the Ethereum blockchain. Altcoin and token may be interchangeable depending on if such asset has its own blockchain system. More specifically, a token is a crypto asset that runs on top of another cryptocurrency’s blockchain.
ICO
Initial Coin Offering is similar to IPO or Initial Public Offering. It was a way to fund project development. However, it got too much FOMO within the price shoot up in cryptocurrency in 2017, and scammers were taking advantage of people and taking away funds after their investments.
Regulations
Of course, regulations eventually came down to cooling the market. With more restricted rules, ICO was harder to implement and there are processes to follow before any ICOs. Investors were protected but the progress was halted.
What Are Missing
A token often serves as the transaction unit on the blockchain to create an effort for participants to process and make sure the blockchain is efficient. They are widely implemented in DeFi or Decentralized Finance as the native currency to fuel the financial system without relying on third-party oversight. Each token’s valuation ties into the entire system. The valuation of the token then can gauge how successful the system is and how popular the system can attract more users.
Scams
No to mention that scams are also coming with tokens. Those unknown tokens with unknown creators have intentionally scammed away people’s investments. While blockchain technology continues evolving, there is a need for a way to protect users from scams.
In conclusion
A token is a transaction unit that runs on top of the existing blockchain to help each transaction run in an efficient way.
I tried to explain what Token is in comic strips.
TL;DR
I explained what the token is and how the comic can present the idea in such a way.
Some Takeaway
The idea of a token is similar to cryptocurrency or cryptoasset. Only the difference is that the token refers to Bitcoin and Ethereum. They are more toward cryptocurrency that particularly runs on the top of the Ethereum blockchain. Altcoin and token may be interchangeable depending on if such asset has its own blockchain system. More specifically, a token is a crypto asset that runs on top of another cryptocurrency’s blockchain.
ICO
Initial Coin Offering is similar to IPO or Initial Public Offering. It was a way to fund project development. However, it got too much FOMO within the price shoot up in cryptocurrency in 2017, and scammers were taking advantage of people and taking away funds after their investments.
Regulations
Of course, regulations eventually came down to cooling the market. With more restricted rules, ICO was harder to implement and there are processes to follow before any ICOs. Investors were protected but the progress was halted.
What Are Missing
A token often serves as the transaction unit on the blockchain to create an effort for participants to process and make sure the blockchain is efficient. They are widely implemented in DeFi or Decentralized Finance as the native currency to fuel the financial system without relying on third-party oversight. Each token’s valuation ties into the entire system. The valuation of the token then can gauge how successful the system is and how popular the system can attract more users.
Scams
No to mention that scams are also coming with tokens. Those unknown tokens with unknown creators have intentionally scammed away people’s investments. While blockchain technology continues evolving, there is a need for a way to protect users from scams.
In conclusion
A token is a transaction unit that runs on top of the existing blockchain to help each transaction run in an efficient way.
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