Blockchain & Decentralized Finance (DeFi) Terms for Beginners
Use this guide to educate yourself or help others better understand Blockchain and Decentralized Finance By Marshall Swatt ( @marshallswatt ) The original whitepaper for Bitcoin, by Satoshi Nakamoto: https://bitcoin.org/bitcoin.pdf "Layer 1": Networks - these are the underlying blockchain networks, like Bitcoin, that facilitate transactions, maintain one or more tokens, and facilitate additional functionality such as data storage, computation or customizable behavior. There are literally hundreds - if not thousands - of layer 1 blockchain networks, offering a wide array of different benefits and capabilities, with the aim of targeting a specific market opportunity, to provide competition and spur innovation, for pure experimentation and research, to improve on existing networks, and other strategic business or novel technical differentiation theses. Who knows how this ultimately shakes out, but my bet is that Ethereum is guaranteed to have long-term healthy competition,...