BLOCKCHAIN
A blockchain is a distributed database that is shared among the nodes of a computer network. Is a growing list of records, called blocks, that are linked together using cryptography
As a database, a blockchain stores information in digital format. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. |
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METAVERSE
In the metaverse, people use avatars to represent themselves, communicate with each other and virtually build out the community. In the metaverse, digital currency is used to buy clothes -- or weapons and shielding in the case of video games -- and many other items.
Users can also virtually travel through the metaverse for fun with no goal in mind using a virtual reality headset and controllers. |
NFT
Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency.
This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions. |
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TOKEN
The term crypto token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own blockchains.
Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things. These tokens are usually created, distributed, sold, and circulated through the standard initial coin offering (ICO) process, which involves a crowdfunding exercise to fund project development. |