We know that the landscape of blockchain and cryptography may be unfamiliar, ever-changing, and filled with hype. These technologies are incredibly valuable and infinitely useful, but in end it comes down to whether you understand the technology and whether you trust it.
This is why we make these resources available. We know the ropes when it comes to blockchain-based solutions and are happy to share our knowledge with you. Let's conquer new land together.
“A journey of a thousand miles must begin with a single step.” ― Lao Tzu
Wherever you are on your journey to harness the potential of blockchain technology, we’re here to guide you.
We’re continuously building our library of resources to give you the information you need to make good choices along the way.
Trustworthy Blockchain Solutions
The blockchain organises the data in terms of linked blocks that are encrypted for security. One aspect that distinguishes it from traditional databases is that you cannot alter or delete existing data. Every transaction/data entry is timestamped and stored using distributed ledger technology (DLT). This makes blockchain immutable and an inherently trustworthy solution.
Smart Contract Development
A contract is almost like a knot. It is a fixed point, it provides security, it is designed for a specific use and it is inherently trustworthy. Smart contracts are exactly the same as any type of contract you already know (such as employment contracts, marriage contracts or business contracts). The only difference is, they are completely digital. A smart contract is a computer program that runs on a blockchain.
NFT – Non-fungible Token
NFT’s address the need for scarcity, uniqueness and proof of ownership in an increasingly digital market where most digital items can be replicated or sold infinitely. By contrast, NFT’s tokenise digital or real world assets and this token can only be owned by one person at a time. Ownership is securely recorded with a digital signature on the Telos blockchain. NFTs are also used as a unique ‘ticket’ to participate in a DAO or other closed group.
Understanding the basics
If your journey to conquer crypto was a sailing adventure, you would need to understand the basic components. We’ve summarised them in the infographic below.
Browse ALL EDUCATIONAL RESOURCES:
- How to deposit your ZAR to crypto
- Your Treasure Chest
- 12. Decentralised autonomous organisations (DAO)
- 11. Digital Wallets
- 10. Token-based Platforms
- 9. Initial Coin Offerings
- 8.3 Coins, Tokens, NFTs: Non-Fungible Tokens (Part 3 of 3)
- 8.2 Coins, Tokens, NFTs: Cryptocurrencies (Part 2 of 3)
- 8.1 Coins, Tokens, NFTs: The Theory of Money (Part 1 of 3)
- 7. Smart Contracts – A range of trustworthy knots
- 6.2 Blockchain development platforms (Part 2 of 2)