Market Insight - Tokens.com: Crypto Revealed
Cryptocurrency questions answered by Andrew Kiguel
Tokens.ca's CEO and Co-Founder, Andrew Kiguel, explains the in's and out's of cryptocurrency. As the world evolves and becomes more and more digital-based, cryptocurrency has been at the forefront. Andrew Kiguel answers questions such as; What's blockchain?, What types of cryptocurrency exist? What is an NFT? and more!
A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. "What blockchain does is it makes everything digital. It's really just an evolution of where the world is going. It is not a fad, it is a necessity that continues to grow," says Kiguel.
Moreover, there are many types of cryptocurrency and they all have different purposes. For example, Bitcoin is like digital gold and Ethereum is a programable cryptocurrency that can be used for lots of different digital assets.
What is an NFT?
An NFT or Non-Fungible Token, is a unit of data stored on a digital ledger. It typically represents art, music or anything that's collectible. "For example, LeBron James sells NFT videos of his slam dunks. He takes his best slam dunks, puts them into a digital form and you can buy that. When you buy it, you are the sole owner of that piece of digital art," says Kiguel.
Altcoins stands for alternative so anything that is an alternative to bitcoin is considered an Altcoin and there are thousands of them. Kigueal says, "You want to be very careful when investing in that space. It's a little bit like investing in the stock market. Some companies may be more reputable than others and you need to do your homework."
Tokens.com Corp. is a Proof-of-Stake technology company that provides
investors with a simple and secure way to gain exposure to Staking rewards
and digital assets that power Decentralized Finance and Non-Fungible
Tokens, without the burden of buying, managing and securing digital assets
themselves. Further, the company creates value for its investors through earning Staking yields and the appreciation of its digital asset inventory, all achieved through environmentally friendly technology.
For more information on Tokens.ca (NEO: COIN) please visit their website at www.tokens.com.