DENET ACADEMY Module 3: Cryptocurrency and Digital Assets. Here is the the summary of what I learnt from the @DeNetPro Academy HIGHLIGHTS 🗃️ it talked about what cryptocurrencies are - that cryptocurrencies are the fuel that powers Blockchains, not payments alone. It rewards participants, enforces rules, and ensures security. The process of creating new coins is called emission. 🗃️ Talked about type of cryptocurrencies such as: - Coins: Blockchain native cryptocurrencies, used for network fees and rewarding participants. - Tokens: These are cryptocurrency built on existing blockchains, and they represent anything such as payment for service, shares and more. Tokens are further divided into: - Utility tokens: fuel for specific products built on a Blockchain. - Security tokens: they are like shares or proof of ownership on a product or company. - Stablecoins: cryptocurrency pegged to traditional currencies like the US dollar. - NFTs: also called Non Fungible Token are unique tokens that cannot be divided or copied. 🗃️ Talked about what makes a cryptocurrency Valuable - and stated that the most reliable criterion is Utility - a token that solves a problem or actively in used. For example, it mentioned: - Bitcoin as financial freedom, far beyond just a digital gold. - Ethereum as a global computer that is always online, with millions of smart contracts deployed on it, and a central currency, $ETH that powers it all. and then, - DeNet: a super secure and scalable data storage protocol that solves a real problem. It is govern by two utility tokens that work simultaneously to secure, stabilize and scale data storage. They are listed thus: - $TBY (TeraByte per Year): a token directly tied to storage. Users pay TBY to store their files. - $DENET: this is the ecosystem token, which is the engine of the #DeNet storage economy. It is also used to issue $TBY and manage system settings.