Unlike #ETH and #BTC $ Algo uses delegated proof of stake (DPOS) #AlgorandandFriends

1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓

2. First, you don't directly buy the art piece, you buy a token. This token is what holds the asset that you're buying, it is a unique id that is used to represent what you bought. It can hold information like the name of the asset, an URL, a description, and so on.

3. On most marketplaces, you won't have a classic signup or login form when you'll want to create an NFT or buy one. Instead, it will be asked to connect your crypto wallet.

4. Now, why bother with a crypto wallet? Couldn't we just do an app that works with dollars? This is where things get interesting: when you buy an NFT, the data is not stored on the marketplace servers.

5. When you post a picture on Instagram, it is stored on their servers. If the app is shut down, your data might be deleted. But also, Instagram could delete your content if they want to, NFTs works differently.

1. Ultimate blockchain, NFT and crypto learning thread 👇

(warning 100's of hrs of content)

2. @CalBlockchain 's Spring 2021 fundamentals course: slides and

3. @tferriss @naval and @NickSzabo4 's podcast about crypto and

4. Similar one to previous but @tferriss, @naval and @VitalikButerin 's podcast on scaling, ETH, NFTs and

5. @a16z Crypto startup

1/20 Bitcoin is too slow and expensive for payments. We all know this. To solve this problem, the Lightning network is being built on top of Bitcoin's blockchain. Will it be the end of XRP?

(Video version @ https://t.co/7zJCuKrpqx)

A thread. 👇

2/20 On a normal day outside a bull run, Bitcoin takes ~10 mins to transfer, at a cost of about $0.50. Any time network activity ramps up, those times and fees multiply. Bitcoin's Proof of Work system is painfully slow and can only handle 7 transactions per second.

3/20 To attempt to solve this problem, the Lightning Network is being developed. It's a 2nd layer network that sits on top of Bitcoin's blockchain. It's been in the works since 2015. Yes, 6 years. Do you know anybody who uses it? Me, either, but I'll get to that.

4/20 Lightning works by opening "channels" between parties. Those parties can perform as many Bitcoin transactions as needed and then close the channel. Because the transactions aren't written to the Bitcoin blockchain until the channel is closed, it's much faster.

5/20 Individual payment channels between various parties combine to form a network of lightning nodes that can route transactions among themselves. The resulting interconnections between various payment channels is the Lightning Network.

🔸FUD
🔸FOMO
🔸HODL
🔸BUIDL
🔸SAFU
🔸ROI
🔸ATH
🔸ATL
🔸DYOR
🔸DD
🔸AML
🔸KYC

Ever seen one of these abbreviations and wondered what it