Tokens are anything with economic value. For example, shell before government-backed money, paper money, bonus points in a loyalty program, shares, bonds, stocks and debts. As for cryptographic tokens, there are four main types. Payment tokens: Such as bitcoin, eth, or stablecoins. Payment tokens are coins. They are mediums of exchange, value store, or account…
Bitcoin was invented by “Satoshi Nakamoto”. Sounds like a Japanese name, but no one knows that the name represents someone, or a group, there is a statue of Satoshi Nakamoto, it has a bronze face so people can see their faces reflected, quite interesting. Bitcoin is a type of cryptocurrency on the bitcoin blockchain where…
BEP-20 is a standard token extension based on ERC-20. It is on Binance Smart Chain. BEP-20 is the token standard created by Binance for Binance Smart Chain. It’s similar to Ethereum’s ERC-20 standard. The goal of BEP-20 is to provide a set of flexible formats for developers to issue tokens. The functions defined in the…
Private The private blockchain is permissioned. This type of blockchain is used within one organization. The organization has complete control over the network, including authorizations, permissions, accessibility. Consortium Consortium blockchain consists of multiple organizations. It is managed by more than one entity rather than a private chain. This type of blockchain is suitable for scenarios…
For NFT, it provides you with a certain standard for tokens, for example, the ERC-721 token standard on Ethereum. In the Ethereum documentation, you can learn how Dapps works on the EVM, ethereum-based account models, and smart contract deployment details. ERC-721 token Standard: Erc-721 is a free, open standard that describes how to build non-fungible…
Turing-Complete Turing-complete refers to the ability of a machine to perform calculations that any other programmable computer is capable of performing. Simply put, all computable problems can be computed, and such a virtual machine or programming language is called Turing-complete. Of course, Turing-complete can also crash the program by falling into an endless loop. Turing-Incomplete…
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Smart contracts run on Ethereum EVM, which represents an Ethereum virtual machine. It is a continuous, distributed state machine with thousands of client computers connected by ethernet. There are a few steps: Testing, compilation, deployment. Once you have done your testing procedures, the next step is the compilation. 1. Compilation procedure EVM will turn solidity…
Aave-non-custodial liquidity protocol Aave protocol is not a Peer-to-Peer lending strategy but a pool-based strategy. For the P2P lending strategy, every lending needs two parties to become a match: lenders and borrowers. Instead, the protocol pools funds together for the pool-based strategy, the same as the amounts borrowed and their collateral. This mechanism enables FlashLoan…