Startup Funding Espresso – How To View the Blockchain World [Video]

How To View the Blockchain World

Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

Blockchain brings a new technical paradigm to the internet.

Here are the key players and components of the blockchain world

Asset holders — they acquire tokens, coins, and NFTs that represent value.

This includes exchanges, wallets, banks, funds and lenders.

Protocols — these are computer protocols that manage the exchange of information and value.

This includes using coins as a store of value, or tokens to gain access to an asset, or NFTs as collectibles.

Smart contracts execute the transactions within the protocol.

Exchanges — marketplaces for trading digital assets.

This includes traditional exchanges with a gatekeeper managing the process as well as decentralized exchanges with no intermediaries.

Chains — these are databases which store the transactions.

Network effects impact the usefulness of chains. The more users on the chain, the more users will want to engage it.

Miners — they run algorithms to ensure the information across the distributed nodes remains accurate and consistent.

Application software — these are the applications that provide the user specific services such as a social network, managing real estate assets, or tracking insurance coverage.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today.

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