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Different Types of Currencies - From Fiat to Crypto

Written By Ivan on Tech

Oct 16, 2020

Are you confused about all the different types of currencies available in 2020? Ever since 2008, there has been an increase in the number of different currency terms and definitions to wrap your head around. As the world is going digital, it makes sense that our finances and financial services will migrate online too. However, there are some critical differences between the traditional currencies and the digital assets that are worth getting educated in, in order to preserve your wealth and prevent it from being controlled or lost.

In this article, we break down the different definitions of the key currencies available today, explaining the history and use cases for each. It is crucial that you truly understand the distinctions between currencies as we head towards the digital financial revolution. The term “decentralized finance”, or DeFi, is often thrown around, and could hold the keys to a paradigm shift for traditional finance.

Before getting into the different types...

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Yearn.Finance - What Are Yearn Vaults?

Written By Ivan on Tech

Oct 15, 2020

Yearn Vaults (stylized as yEarn Vaults) are one of the more exciting things happening in the decentralized finance (DeFi) space right now. Yearn Vaults are the brainchild of Yearn Finance, and comes as a response to the recent yield farming and liquidity mining trends. Specifically, Yearn Vaults are pools of funds following certain strategies, which attempt to provide passive income streams through competitive yield farming strategies.

Keeping this in mind, Yearn Vaults mainly appeal to risk-tolerant traders. However, before we jump into the specifics of Yearn Vaults, let’s do a quick rundown of the yearn.finance protocol and see exactly what it does.

In need of a refresher on Yearn Finance? The Ivan on Tech Academy blog has an extensive guide to Yearn Finance, and if you are looking to learn more, countless Ivan on Tech Academy courses are just a click away! Choose between loads of cryptocurrency and blockchain courses and supercharge your blockchain education!

What is the...

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Ethereum 2.0 Explained: What is the Zinken Testnet?

Written By Ivan on Tech

Oct 14, 2020

Those keeping tabs on the crypto market will likely have heard the term “Ethereum 2.0” (or Eth2) being thrown around. As the name suggests, Ethereum 2.0 is an overhaul of the existing Ethereum network, intended to boost scalability and security on the network. A critical part of the path towards Ethereum 2.0 is the “Zinken testnet”, which went live on October 12th, at 12 PM UTC. However, what is the Zinken testnet exactly?

To put it simply, Zinken is an Ethereum 2.0 testnet intended to practice a mainnet launch. It can be seen as a “dry run” for an Ethereum 2.0 mainnet and is essential to complete before Ethereum 2.0 goes live and starts supporting substantial economic value.

Although the existing Ethereum network has served a real value, it is becoming increasingly apparent that Ethereum needs improvements to support higher volumes of users. This is becoming more pronounced than ever, as Ethereum adoption keeps increasing.

Moreover, the...

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Top 10 DeFi Platforms You Need To Know About: Breaking Down Defi Pulse

Written By Ivan on Tech

Oct 13, 2020

This year, some of the biggest developments in the cryptocurrency industry have been due to the uptick in decentralized finance (DeFi) platforms, offering many of the same services as the legacy financial institutions, but on-chain. This is why we are now breaking down the top 10 DeFi platforms according to the Defi Pulse listing.

There have been countless projects, some with huge success and popularity from users. In this article, we have collated the top 10 DeFi platforms as of the time of writing, from DeFi Pulse - the best place for tracking DeFi analytics and key metrics.

We have described a brief overview and background in addition to the services the platform provides. Moreover, welcome to Ivan on Tech Academy - the best place to learn about all things blockchain and crypto, and keeping up-to-date with the latest developments in the space.

In addition to the top 10 DeFi platforms that are hot right now, this also includes countless blockchain and cryptocurrency courses. Check...

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Crypto Use Cases - Where Can You Spend Bitcoin?

Written By Ivan on Tech

Oct 12, 2020

As long as you haven’t been living under a rock, you will likely have heard of Bitcoin. You may know Bitcoin as the revolutionary digital currency, or you may have been led astray by the baseless rumours that Bitcoin “is only used for dark web online purchases” or illegal activities. However, this couldn’t be further from the truth. Bitcoin and other cryptocurrencies like it are rapidly becoming widely accepted both in institutional sectors and in the wider society. With growing interest, a lot of people are now asking ‘Where can you actually spend Bitcoin?’.

In this article, we cover an assortment of various locations around the world that are accepting Bitcoin as payment for their goods and services alongside global partnerships with crypto services. Firstly though, let’s review why Bitcoin has grown to be so popular and has been claimed it will reset the entire global financial infrastructure.

First of all, though, crypto adoption is...

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What Is SegWit - Explaining Segregated Witness

Written By Ivan on Tech

Oct 11, 2020

If you've seen the phrases 'SegWit friendly', or 'SegWit approved', and wondered 'what is Segwit?', you have come to the right place! In this article we answer some common questions regarding this segregated witness protocol such as, 'what is SegWit?', how does SegWit work?', and 'what are the benefits of SegWit?'. We shall explain how the transition happened, why it does not apply to all blocks, and what happens to these legacy or non-Segwit transactions.

In case you find the following piece a tad too technical, it can be a great idea to enroll in Ivan on Tech Academy to get a firmer grasp on blockchain technology and crypto. Ivan on Tech Academy is one of the most popular blockchain education platforms and offers countless relevant courses. Enroll today and supercharge your blockchain and crypto education!

What is SegWit: Overview

Segregated Witness - commonly known just as SegWit - is a Bitcoin protocol update that fixed issues of transaction malleability and served as a way...

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DeFi Deep Dive: What is Chainlink?

Written By Ivan on Tech

Oct 10, 2020

If you ask people in the crypto space what they think of when you say ‘oracles’, many will likely say “Chainlink”. Chainlink has become the number-one most trusted oracle throughout the crypto space and beyond, boasting partnerships with some of the biggest names in tech and an array of integrations and partnerships with an impressive roster of collaborations.

Specifically, the Chainlink project aims to reinvent how automated financial contracts work and is at the forefront of the fourth industrial revolution. Oracles are the backbone of many DeFi projects and provide the foundation for a multitude of applications.

In this article, we’ll explore how Chainlink works, how the native LINK token works, and why Chainlink has become the oracle of choice for so many cryptocurrency projects and businesses worldwide.

Before you dive into Chainlink, be sure to check out the various blockchain and crypto courses available on Ivan on Tech Academy. Ivan on Tech...

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What is Decentraland - Explaining Decentraland, LAND and MANA

Written By Ivan on Tech

Oct 09, 2020

Decentraland is a decentralized, virtual reality (VR) platform where users can both create and monetize their content and applications. The digital land on their platform is simply called “LAND.” Specifically, it is a non-fungible digital asset maintained by Ethereum smart contracts. Decentraland split up their digital land into parcels so that users can purchase it using the MANA token.

We’ll describe all this in-depth, but for now, just understand that there is a finite amount of LAND available. So, the number one asset on Decentraland is scarce which is similar to Bitcoin. 

The cool thing is users who buy LAND own it outright and permanently. They can control how their LAND looks by choosing the scenes they want, what content they’ll display, and which interactive apps they’ll use. In short, the owners are in charge. Let’s therefore dive deeper and find out all about Decentraland!

Are you interested in learning more about the crypto space?...

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About Bitcoin - What to do with Bitcoin?

Written By Ivan on Tech

Oct 08, 2020

Got Crypto? What To Do With Bitcoin

So, say you’ve just invested in your first crypto, more than likely Bitcoin, and now you're wondering what to do with it. There are many different options to explore, some of which we will discuss below. Perhaps you are reading this because you feel close to investing in your first crypto, but you are unsure what to do with Bitcoin afterward. Further on, we shall explain the value of holding Bitcoin, alongside ways and means to make your Bitcoin work for you.

Moreover, buying crypto and Bitcoin is becoming more common. Those in the crypto community who are interested in economics may have come across the phrase; "not everyone that buys Bitcoin understands money, but everyone who understands money buys Bitcoin".

In this article, we illustrate where this phrase comes from, alongside investigating different options for what to do with Bitcoin after you've bought it. As a refresher for those unsure of the value propositions of Bitcoin, or people...

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What is Enjin - Explaining Enjin and Enjin Coin (ENJ)

Written By Ivan on Tech

Oct 07, 2020

The video game industry is a multi-billion dollar sector, with an estimated 65% of American adults playing games. Moreover, by 2025, the video game market is estimated to become a $300 billion industry by 2025. Out of all of these prospective gamers, the blockchain firm Enjin hopes to lasso some of these gamers from traditional gaming and bring them over to the blockchain. 

So, what is Enjin? Well, in short it is a blockchain-based video game community and development platform based out of Singapore. With Enjin, users can build such things as websites, gamer dApps, and chat forums. The Enjin platform is designed specifically for the video game industry and offers its legion of gamers the chance to create communities around their favorite games.

More importantly, Enjin is taking traditional blockchain concepts to the video game space. This means that its users can tokenize virtual assets like weapons or suits of armor. Enjin accomplishes this with its ecosystem of tools that...

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