Crypto Concepts

WHAT ARE ORDINALS? Ordinals, commonly called “Bitcoin NFTs,” have been one of the most exciting developments in the Bitcoin ecosystem this year. Technically, Ordinals are a way of attaching or “inscribing” data to individual sats or satoshis (the smallest unit of a Bitcoin at 1/100,000,000) on the Bitcoin blockchain. The term “Ordinal” is derived from Ordinal Theory, a recently developed system for numbering sats in the order they are mined....

INTRODUCTION The top 50 most valuable protocols all have circulating market caps of at least one billion. Why do these tokens, many of which have unproven business models, trade at such high valuations? One of the core assumptions behind these valuations is that the protocol will someday mature to have product-market fit, justifying its current market value. For protocols that operate decentralized applications (dApps), assessing profitability is one of the...

INTRODUCTION Video games have captivated users since the dawn of digital technology. In 1972, Atari Inc. released Pong, a simple arcade ping-pong game that helped launch the evolution of gaming. Popular games such as Pacman, Asteroids, and Space Invaders paved the way for future gaming consoles like Nintendo, Gameboy, PlayStation, and Xbox. Gaming has transformed even more in recent years as users can access rich gaming experiences via portable devices,...

WHAT IS ZERO-KNOWLEDGE TECH? Zk (zero-knowledge) technology is one of the most interesting technologies in crypto and can potentially be very useful in situations that require privacy and security. Zk-tech increases privacy by leveraging zero-knowledge proofs to enable one party to prove to another party that something is true without revealing any information beyond the fact that it is true. For example, imagine you have a secret code you don't...

WHAT IS [CRYPTO] GOVERNANCE? Strong governance models have been catalysts for the golden ages of progress, while poor governance models have propelled humanity into the dark ages of regression. Governance models establish formal procedures for conducting the policy, actions, and affairs of a state, organization, or people. They enable systematic decision-making to move groups with shared interests forward. Governance and power are closely related. The decision-making implications given to those...

INTRODUCTION Human nature and gambling have been linked together as far as history goes back. Pick any time period, and there is evidence of humans wagering on games in one way or another. Whether it was betting on your favorite gladiator in the Colosseum or strolling into a Vegas casino and playing the slots, history has proven that humans love to gamble. In modern society, there are more and more...

WHAT IS A MEME? A meme is defined by Webster’s New World College Dictionary as “a concept, belief, or practice conceived as a unit of cultural information that may be passed on from person to person, subject to influences in a way analogous to natural selection.” Memes have always existed but have grown rapidly in popularity due to the internet and social media. Sites such as Twitter and TikTok are...

WHAT ARE EXCHANGE TOKENS? Centralized exchanges are centerpieces in the crypto industry and have garnered some of the highest historical valuations in both private and public markets. Despite their core function in the space, we have seen that they can be highly cyclical, and their performance is most often dependent upon price action. Further, the business model and value proposition have been revealed to be quite simple: provide users with...

WHAT ARE SOCIAL TOKENS? Social tokens are a category of digital assets that allow a broad array of entities to develop and manage relationships with their respective communities. Social tokens offer benefits to both content creators and consumers. Creators can pull future revenues forward via token issuance, potentially add additional revenue streams via unique token models, and engage their fans in a new way. At the same time, token holders can...