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WTF is Cryptocurrency?

What kind of Web3 blog would this be if we didn't cover cryptocurrency? At this point, you've likely heard of it, and you've likely heard a lot about it. You've probably heard about people becoming millionaires overnight because of crypto. Conversely, you've probably heard of a lot of scams involving crypto. But of course none of those stories tell you what it is. So, WTF is cryptocurrency? Cryptocurrency is a type of digital money. It is different from regular money because it doesn't have a physical form, and it's not controlled by a government or a bank. Instead, it's based on something called a blockchain, which is a digital ledger that keeps track of all the transactions. While there are thousands of cyrptocurrencies out there, we're just going to start with three. Bitcoin Bitcoin is a decentralized currency that allows for peer-to-peer transactions without the need for a centralized intermediary like a bank. Transactions are recorded on a publi...

WTF are SVB and USDC?

I started this blog with the purpose of explaining Web3 concepts (and maybe some adjacent topics) in simple terms for the less technical among us. If you've been following - thanks, by the way - you may have noticed I like to post every Thursday and Sunday. For my Sunday post, I was hoping to break down cryptocurrency, but given all that's happened since Friday, I'd feel remiss if I didn't make this post a bit more topical. I appreciate all two of you guys' patience. So, WTF is SVB and USDC? Silicon Valley Bank Silicon Valley Bank (SVB) is a financial institution that provides services to technology companies, particularly startups. It was founded in 1983 and has become known as one of the most prominent banks for tech startups. The bank's services include banking, lending, and investment services, all tailored to the needs of tech companies. In recent years, SVB has been experiencing financial difficulties. In 2020, the bank had to take a $110 million loan loss...