Bitcoin and the Origin of DeFi
On 3 January 2009, an unidentified person under the pseudonym Satoshi Nakamoto published a white paper detailing the inner workings of a decentralized financial system built using blockchain technology. He introduced Bitcoin as the native currency of the decentralized system such that people can make and receive payments without visiting a bank or another financial intermediary.
Like every ground-breaking technology before it, it took a while before Bitcoin and blockchain technology started gaining popularity, but once people started to realize their incredible potential, they caught fire and became a global phenomenon. The unprecedented success of bitcoin inspired the birth of other successful cryptocurrencies and blockchain networks like Ethereum, Solana, Cardano, Polygon, XRP, etc.
Today, Bitcoin is the largest cryptocurrency in the world, with a total market cap of almost 400 billion dollars. Its position as leader of the revolution makes it an excellent investment option for people looking to profit in the crypto market.
Ethereum: the gift of smart contracts and NFTs
On 30 July 2015, Vitalik Buterin launched Ethereum. The project consists of three parts: Ethereum Virtual Machine, the Ethereum blockchain network, and its native currency, Tether $ETH. They work in harmony to create a platform where developers can create new cryptocurrencies, write & execute smart contracts, mint & trade Non-Fungible Tokens NFTs, and build Decentralized Applications dApps for DeFi products & services.
The ERC-20 token standard ushered in the birth of more cryptocurrencies on the Ethereum network, the ERC-721 standard laid the groundwork for the NFT market to grow to a size of 11.16 billion dollars in 2021, and for the DeFi industry to reach 12.7 billion (2022 estimate).
The only shortcoming of the Ethereum blockchain network is its sluggish speeds which result in network congestion during periods of large traffic and, by extension, higher gas fees. These issues however will be resolved after the ETH merge scheduled for 15 September 2022.
The merge will speed up the global adoption of the blockchain network and increase the market value of its native currency, Ether. ETH is a great investment to make in the face of the approaching bull season.
Big Eyes Coin – The New Kid
Big Eyes Coin (BIG) is an exciting all-inclusive project that seeks to fast-track the global adoption of blockchain technology and cryptocurrency by offering everyone the best that the blockchain has to offer. The project is built around a community of meme lovers looking to enjoy DeFi products and services.
The mascot of the project is an adorable cat who has lived a life of love and adventure and now finds itself on a mission to protect the oceans. Community members can create unique NFTs centered around the Big Eyes Coin character, facilitated by its native currency, $BIG.
https://bigeyes.space/
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
