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A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization managed in whole or in part by decentralized computer program, with voting and finances handled through a blockchain. In general terms, DAOs are member-owned communities without centralized leadership. The precise legal status of this type of business organization is unclear.
Circle is a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.
Counterparty is a peer-to-peer financial platform and a distributed, open source protocol built on top of the Bitcoin blockchain and network. It was one of the most well-known "Bitcoin 2.0" platforms in 2014, along with Mastercoin, Ethereum, Colored Coins, Ripple and BitShares.
Kraken is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and was valued at US$3 billion in January 2024. The company has been the subject of several regulatory investigations since 2018, and has agreed to cumulative fines of over $30 million.
A decentralised application is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. Like traditional applications, DApps provide some function or utility to its users. However, unlike traditional applications, DApps operate without human intervention and are not owned by any one entity, rather DApps distribute tokens that represent ownership. These tokens are distributed according to a programmed algorithm to the users of the system, diluting ownership and control of the DApp. Without any one entity controlling the system, the application is therefore decentralised.
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.
An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ether. The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches.
A cryptocurrency wallet is a device, physical medium, program or an online service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction, identification, or legally signing a 'document'.
Cryptocurrency and crime describe notable examples of cybercrime related to theft of cryptocurrencies and some methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that have been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrency.
OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume, serving over 50 million people globally. It was founded by Star Xu in 2017, who is also the CEO as of 2023. The President is Hong Fang and the CMO is Haider Rafique. OKX is owned by OK Group, which also owns the crypto exchange Okcoin.
A stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities, or another cryptocurrency.
A security token offering (STO) / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.
Paxos Trust Company is a New York–based financial institution and technology company specializing in blockchain. The company's product offerings include a cryptocurrency brokerage service, asset tokenization services, and settlement services. ItBit, a bitcoin exchange run by Paxos, was the first bitcoin exchange to be licensed by the New York State Department of Financial Services, granting the company the ability to be the custodian and exchange for customers in the United States.
Muneeb Ali is a Pakistani-American computer scientist and internet entrepreneur. He is a co-founder of Stacks, an open-source smart contract platform for Bitcoin. He is known for the regulatory framework that resulted in the first SEC-qualified offering for a crypto asset and for his doctoral dissertation which formed the basis of the Stacks network. He is a co-author of Protothread and Proof-of-Transfer (PoX) consensus.
Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain, mainly Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high-interest rates but are subject to high risk. Coding errors and hacks have been common in DeFi.
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. MetaMask is developed by Consensys, a blockchain software company focusing on Ethereum-based tools and infrastructure.
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.
ICON is a decentralized, open-source blockchain with smart contract functionality. ICX is the native cryptocurrency of the platform.
References
- ↑ "Blockstack anchors to Bitcoin network with new mining algorithm". ZDNet .
- ↑ Singh, Harminder (1 October 2017). "'New internet' looks to keep user data away from tech giants and bypass China censorship". South China Morning Post.
- ↑ Fung, Brian (23 March 2018). "The new technology that aspires to #DeleteFacebook for good". The Washington Post.
- ↑ Dillet, Romain (5 September 2018). "Stealthy wants to become the WeChat of blockchain apps". TechCrunch`.
- ↑ Simonite, Tom (5 March 2018). "The Decentralized Internet Is Here, With Some Glitches". Wired Magazine.
- ↑ Daly, Lyle (10 Jun 2022). "What is Stacks (STX)?". The Motley Fool. Retrieved 28 September 2022.
- 1 2 "Blockstack raises $52 million to build a parallel internet where you own all your data". VentureBeat. 2017-12-04. Retrieved 2021-06-22.
- ↑ SEC. "PART II — INFORMATION REQUIRED IN OFFERING CIRCULAR". www.sec.gov. Retrieved 2021-06-22.
- ↑ Vigna, Paul (2019-07-11). "SEC Clears Blockstack to Hold First Regulated Token Offering". Wall Street Journal. ISSN 0099-9660 . Retrieved 2021-06-22.
- ↑ Chavez-Dreyfuss, Gertrude (2020-12-07). "Blockstack's digital currency 'Stacks' to be tradable in U.S. once new blockchain arrives". Reuters.
- ↑ "sebis TU München : Master's Thesis Martin Schäffner". wwwmatthes.in.tum.de. Retrieved 2023-01-22.
- ↑ Brown, Dalvin (2021-09-30). "Crypto tax: 'MiamiCoin' has made the city $7 million so far, a potential game-changer for revenue collection". Washington Post.
- ↑ Chen, Elaine (2021-11-03). "Eric Adams Aims to Make NYC Crypto-Friendly With Coin Similar to Miami's". Bloomberg.
- ↑ Greely, Brendan (2021-11-03). "MiamiCoin, a currency without sovereignty". Financial Times.
- ↑ Benavides, Cristian (February 3, 2022). "Miami Announces It Cashed Out Some MiamiCoin as Crypto Markets Are Down". NBC 6 South Florida. Retrieved 2022-04-13.
- ↑ Wanna, Carly (21 March 2023). "Miami and New York's Crypto CityCoins Meet Quiet Demise". MSN. Bloomberg. Retrieved 8 April 2023.
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