BC_Goddess Academy

You must have been hearing the term Market Cap or might have even come across the acronym (MC) whether you're into cryptocurrency or not, what does it entail??? Cryptocurrency market capitalization constitutes a mathematical technique for determining the value of a cryptocurrency. While some people think price represents value, reality says otherwise. For example, a particular ham sandwich tastes no better when you spend $30.00 on it rather than $10.00. In fact, the added cost for no added value might well give you a stomach ache. Prices fluctuate for a variety of reasons. Favorable or unfavorable news stories create price jumps. Government actions play a part. And, exchanges sometimes create dramatic effects in price. Investor psychology also plays a role in short-term price variations. Bitcoin benefited from something known as the Thanksgiving Effect in 2017. People go home, enjoy a good meal, feel optimistic, talk to their friends and relatives about their investments, then inv...

  NFT stands for 'non-fungible token'. Non-fungible means that something is unique and can't be replaced. By contrast, physical money and cryptocurrencies are fungible, which means they can be traded or exchanged for one another. Every NFT contains a digital signature which makes each one unique. NFTs are digital assets and could be photos, videos, audio files, or another digital format. NFT examples include artwork, comic books, sports collectibles, trading cards, games and more.  How do NFTs actually work? NFTs are individual tokens with valuable information stored in them. Because they hold a value primarily set by the market and demand, they can be bought and sold just like other physical types of art. NFTs' unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners. How do NFTs make money? The direct and effective method of making money with NFTs is to create and sell them. Yes, you can create and sell anything digita...

 What are flash loans? Flash loans are uncollateralized loans without borrowing limits in which a user borrows funds and returns them in the same transaction.  If the user can’t repay the loan before the transaction is completed, a smart contract cancels the transaction and returns the money to the lender. Flash loans address the limitations of CeFi and DeFi lending This type of loan allows traders to borrow unsecured loans from lenders without intermediaries. Flash loans have become popular and advantageous because they give its users the ability to arbitrage and trade in ways that weren't possible before. In traditional banking, if you’re looking to take out a loan, there are a number of documents that need to be provided, including a formal ID, proof of income and reserves. None of this is necessary in the case of a flash loan. As the name itself suggests, such loans can be granted instantaneously, allowing users fast access to funds. Flash loans are certainly highly innova...

 Ever heard of something being “too good to be true?” A rug pull, taken from the expression 'pulling the rug out,' is a common type of crypto scam where fraudulent developers lure investors into what appears to be a lucrative new project, then disappear with the funds, leaving the investors with a worthless asset. Rug pulls are prevalent in DeFi because with the right technical know-how, it’s cheap and easy to create new tokens on the Ethereum blockchain or others and get them listed on decentralized exchanges (DEX) without a code audit,” Chainalysis explains. Code audits allow third parties to conduct security checks, ensuring that any smart contracts associated with the token are free of vulnerabilities. Rug pull scams are also common in the NFT space, where heightened interest in crypto art and a constant influx of new projects have created an attractive environment for scammers. Many new collectors are still figuring out how to navigate the space, and popular projects like ...

 What Is Staking?  Staking is when you lock crypto assets for a set period of time to help support the operation of a blockchain. In return for staking your crypto, you earn more cryptocurrency. Many blockchains use a proof of stake consensus mechanism.With crypto staking, you earn funds by holding coins or tokens in your wallet. On Proof of Stake blockchains, rewards based on minting new coins are distributed to those who stake funds according to the size of their holdings. You can also combine your holdings with the funds of other investors in a staking pool. When the pool earns payments, you receive a portion in proportion to the size of your contribution to the pool. Your money never leaves your wallet and it is never put at risk, which makes staking crypto a very safe investment. However, you may not remove your funds during the staking period. Staking periods range from a day to a month or more. You can find staking options at cryptocurrency exchange sites.  The amo...

  DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. What Is a Decentralized Application? It is that application through which transactions are made with the middle men removed from the picture. For instance, when you pay with a credit card for coffee at a cafe, a financial institution sits between you and the business, with control over the transaction, retaining the authority to stop or pause it and record it in its private ledger. With cryptocurrency, those institutions are cut out of the picture. All middle men are removed from the transaction, Cutting out middlemen from all kinds of transactions is one of the primary advantages of decentralized finance. Most decentralized finance applications are built on top of Ethereum, the world’s second-largest cryptocurrency platform, which sets itself apart from the Bitcoin platform in that it’s easier to us...

  A Stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities (such as precious metals or industrial metals), or another cryptocurrency How Does Stablecoin Work? Stablecoins attempt to peg their market value to some external reference, usually a fiat currency. They are more useful than more-volatile cryptocurrencies as a medium of exchange. Stablecoins may be pegged to a currency like the U.S. dollar or to the price of a commodity such as gold or use an algorithm to control supply. They also maintain reserve assets as collateral or through algorithmic formulas that are supposed to control supply. What Is the Purpose of Stablecoin? Stablecoins aim to provide an alternative to the high volatility of popular cryptocurrencies, including Bitcoin (BTC), which can make cryptocurrency less suitable for common transactions. Stablecoin vs Bitcoins A stablecoin is a token t...

Introduction to the metaverse The metaverse is a fictitious virtual universe that allows individuals to interact in three dimensions within shared spaces.In science fiction, the "metaverse" is a hypothetical iteration of the Internet as a single, universal, and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets.In colloquial usage, a "metaverse" is a network of 3D virtual worlds focused on social connection. What does metaverse mean? The metaverse is a changing network made up of virtual worlds based on real-time interaction, where people can work, socialize with each other, carry out transactions, play and even create things. It uses virtualization and advanced technologies (AR and VR) to fully immerse the user in a virtual world. This means that users can interact directly with a world that is constantly available and that they can access whenever they like. Research shows that these seven technologie...

 What is a DAO?   A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited. How does a DAO work? The rules of the DAO are established by a core team of community members through the use of smart contracts. These smart contracts lay out the foundational framework by which the DAO is to operate. They are highly visible, verifiable, and publicly auditable so any potential member can fully understand how the protocol is to function at every step. Once these rules are formally written onto the blockchain, the next step is around funding: the DAO needs to figure out how to receive funding and how to bestow governance. This is typically achieved through token issuance, by which the protocol sells tokens to raise funds and fill the ...

Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Web 3.0 is a decentralized internet built on an open blockchain network that is not owned and controlled by large entities. HOW WILL WEB 3 CHANGE THE WORLD? Web3 enables developers to build decentralized applications (dApps). These dApps are powered by blockchain technology, which allows them to run without the need for a central authority. This means that users can interact without giving away their personal data, and they're also less susceptible to censorship. Web 3.0 is the third generation of the World Wide Web, and it is characterized by increased functionality, interactivity, and user-orientation. Whereas Web 1.0 was focused on providing information and Web 2.0 was focused on community and collaboration, Web 3.0 is all about using data to provide personalized experiences for users. This is made possible by the Sem...

What is AI? In Science fiction movies, Artificial Intelligence (AI) is usually represented as robots with human-like attributes. However, AI can refer to many things, some of which are Google’s search algorithms, Siri, self-driving cars, IBM’s Watson among others. As the world becomes more advanced in technology, artificial intelligence is also growing to be part of our everyday lives. So what exactly is Artificial Intelligence? Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. It is the result of adapting human intelligence in machines and programming them to reason like humans and reproduce their actions. Artificial Intelligence may also refer to any machine that exhibits traits associated with a human mind such as learning and problem-solving. Devices that can observe their environment and make active decisions that will increase their chances of success are artificially intelligent. AI refers to the ability of a digi...

Hello beautiful people, I'm Blockchain Goddess👸🏻. You need not worry about the intriguing pseudonym. I've got you. Alright, to begin, what do I mean by Blockchain? In simple terms Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. It's origins are accepted to date from 1991 when Scott and Stornetta published “How to Time-Stamp a Digital Document” in the Journal of Cryptography. However, it is now when its popularity has increased, thanks to the success of Bitcoin and other cryptocurrencies. The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” It's a type of distributed ledger technology (DLT) , a digital system for recording transactions and related data in multiple places at the same time. As literal as it sounds, it is a set of blocks in a chain, each block in the ...