Over the past few weeks there has been a lot of interest, commentary and hype around BRC20 tokens. I'm normally late to the party for hyped new technologies but maybe I'm not too late for this one. First I wanted to get clear on the difference between a cryptocurrency and a token, which is actually straightforward. A cryptocurrency is the native asset/currency for a blockchain. For example, BTC, ETH, AVAX and ADA are all cryptocurrencies for their respective blockchains. Some blockchains also support the creation of tokens which are digital assets that are created on top of the blockchain. Tokens are generally used by applications running on the blockchain. Therefore it is no surprise that the blockchain with the most tokens is the blockchain with the most 3rd party apps, Ethereum. For example, MATIC is the token of Polygon which is a layer 2 network built on top of Ethereum....... Read more
Don’t invest in crypto unless: 1) you can afford to lose everything you invest and 2) you won’t bitch and moan if that happens. I think of crypto investing like going to a casino… enjoy the free drinks and gambling experience because there is a very good chance the only thing you will go home with is a buzz and nice memories.