Info Hub

A blockchain is a data structure with a unique set of properties suited to decentralized systems. The data in a blockchain is usually wrapped in a package called a block and when the network is updated with new information this block is linked to the previous update. 

Today the term cryptocurrency refers to digital tokens that are represented on a blockchain such as bitcoin (lower-case b, BTC), or ether (from ethereum, ETH).  

This is intended to be an overview and if you are just learning about Bitcoin don’t be disuaded if the pieces seem disjointed or don’t fall into place quickly. (Learning is hard!)  

An Ethereum is a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats and state transition functions.  

Anything you can do at a bank, or an investment bank, or a hedge fund, or a stock exchange can be built in code and run on a blockchain. There are number of more practical reasons why someone would be interested in decentralised finace…

Here we’re going to start by looking at what happens when you can automate some of the behaviour witnessed in part 1.0. Eventually we’ll get to DeFi2.0 and discuss algorithmic coins, rebasing, and self-repaying loans..

Why would tokens need an introduction you ask? Lets start with an example. In Auckland we need to put tags on our rubbish and recycling bins before they will be collected and emptied by the waste disposal folks. The tag is a token.

NFTs (non-fungible tokens) and their varying and increasingly exciting uses are taking the blockchain world by storm. These little decentralised hashes have quite literally unlimited potential to shape everything from event ticketing to the development of web 3.0 and the metaverse.

DAOs (decentralised autonomous organisations) are online-native decentralised organisations with self-enforcing rules, governed by their members, and use distributed ledger technology, such as blockchain. DAOs use distributed ledger technology, and often use third-party blockchain platforms, such as Ethereum.