Monday, October 2, 2023

Crypto asset

by Hideo Nakamura
Crypto asset

Crypto asset is a term used to describe digital assets that are issued and managed using cryptography, or cryptographic technologies. Crypto assets can include cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple and many others; they can also refer to tokens built on top of blockchain networks like ERC-20 tokens and non-fungible tokens (NFTs).

Cryptocurrencies are decentralized digital currencies designed to work as medium of exchange for online transactions. They use encryption technology known as “blockchain” which stores transaction records in an immutable ledger. This makes them secure from fraud and manipulation by third parties who don’t have access to the network data. Cryptocurrency transactions occur between two wallets on the same network without intermediaries like banks or brokers needed for traditional finance systems.

ERC-20 Tokens are crypto assets based on Ethereum blockchain technology that adhere to certain standards set forth by developers so these types of tokenized assets operate similarly across different platforms within the same ecosystem (ethereum). These could be rewards points given out through loyalty programs, cryptocurrency coins/tokens representing ownership share in a company/project or items created via Non Fungible Token protocol such as collectibles & virtual goods etc.,

Non Fungible Tokens (NFT) represent unique digital items with properties that make them distinguishable from one another. NFTs provide proof of authenticity due their cryptographic signatures which allows ownerships rights over a particular item but it doesn’t necessarily grant any other form of control beyond this right since its value resides solely in scarcity factor associated with each individual item unlike fungible cryptos where all units hold equivalent values regardless how rare it may become overtime due increased demand & supply dynamics .

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