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There are many blockchains, including Ethereum, Cardano, and of course the most well-known, Bitcoin!
Here is a piece about the history of Bitcoin and blockchain technology: https://worldcoin.org/articles/history-of-cryptocurrency
Iβve been looking over media coverage and data about crypto and let me say, we are still very early! For example, based on an April 2023 Pew Research study, only 17% of adult Americans have invested in crypto. There is a lot of negative media coverage as well. It was predictable, as huge technological milestones are usually met with resistance, including the telephone, computers, and the internet. Would you see yourselves living without those today?
Lots have been said about blockchain tech, both positive and negative. If you have still fears and doubts about cryptocurrency, please have a look at this article that tackles this specific subject very well.
https://thecryptobasic.com/2022/08/19/why-are-people-so-afraid-of-joining-the-crypto-world/
Here are some easy first tips: Diversify your portfolio (your wallet), and try to buy low and sell high! Happy discovering!!β¨ Now, in a nutshell, there are 3 main reasons to be very optimistic and trustful about crypto.
A structure based on transparency and decentralization.
Blockchain technology, by its very nature, is designed to be transparent and open. The transparency in blockchain comes from its distributed ledger technology, which allows for the recording of transactions across a network of computers. This means that anyone with access to the network can view the transactions stored in the blocks of the chain.
Decentralization makes the system more secure and robust. Decentralization enhances security by distributing data across a network of computers (nodes), making it extremely difficult for hackers to compromise the entire system. And, since there is no central point of failure, attacking a decentralized blockchain would require overwhelming amounts of computational power. For example, Bitcoin's security is bolstered by its widespread network of nodes, making it resistant to attacks and fraud.
Decentralization also reduces the need for trusted intermediaries, such as banks or other financial institutions, in transactions. This shift has the potential to democratize finance by enabling peer-to-peer transactions without the need for a central authority to validate or facilitate them. For instance, some chains have smart contracts, which automate and enforce agreements directly on the blockchain, eliminating the need for middlemen and reducing the potential for disputes and corruption.
Democratizing the financial sector.
As mentioned just above, Decentralization and smart contracts help the average person to take control of their finances and have an opportunity to make their money work for them! βIt takes money to make moneyβ comes to mind.
On Cardano for instance, one can start with a few dollars worth and invest in tokens that are very viable including The World Mobile Token, which operates in telecoms, at 0,32 ADA or IAG and their cloud services at around 0,30 ADA. ADA is the Cardano blockchain token, worth at the time of this writing, about 0,49 USD.
Being able to invest in your future, at a risk level of your choosing, is an historic opportunity. With the resources and tools offered by The Alliance, you could start a life-changing journey with the best starter kit!
Iβm trying to be short here, but because of the structure, mechanisms, and utilities mentioned above, crypto and blockchain technology can and will be useful in all sorts of industries, institutions, and services. Whether it be in the justice system, the medical industry, or the domain of education. All this leads us to the third point of why to trust and use crypto. β¨
The blockchain revolution is practically unavoidable.
It is now so big and has so much potential, it is here to stay. Nothing will be able to stop all the blockchains. So why not join now when we are just beginning and lots of money is to be made!! And, as I said earlier, we are so early so the prices now will probably be historically low compared to the future. Even if some ultimately fail, a lot of people are using them, and making money with them, right now! Great guide from JPG: https://www.jpg.store/articles/intro-to-cardano-nfts?utm_source=twitter&utm_medium=social&utm_campaign=unfungible_space_1
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