What is a Soul Bound Token? - Crypto in Plain English - Episode 183 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it9 Kesä 2022

What is a Soul Bound Token? - Crypto in Plain English - Episode 183 - by cryptohunt.it

What is a Soul Bound Token?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today: What is an SBT, which is short for Sould Bound Token?

The idea of the soul bound token is relatively new, and was proposed by three authors: Glen Weyl, Puja Ohlhaver, and none other than Ethereum co-founder Vitalki Buterin.

In short, it describes a record of your accomplishments on the blockchain.

You’ll remember that blockchains are really nothing more than databases, with the twist that anyone can verify a record's correctness. And the idea here is to record your achievements on it, and record them in a way that only your wallet can hold them. They can never be transferred, hence the name soul bound - bound to you.

Sounds abstract? It is, but think about it this way: If you play a video game online and earn a badge, or do a workout with your AppleWatch and get a virtual medal - those are all digital recognitions of something you accomplished, they are just not recorded on a blockchain.

But the blockchain does make sense if you take the concept further: Your university could issue you an SBT that undeniably verifies your degrees. A former employer could do the same for a reference. And whoever you show it to, can trust them instantly.

We’ll see where this goes. But we think it’s one of the few practical applications where the idea of a blockchain provides extra value.

What do you think?

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

What is a Crypto Contagion? - Crypto in Plain English - Episode 301 - by cryptohunt.it

What is a Crypto Contagion? - Crypto in Plain English - Episode 301 - by cryptohunt.it

What is a Crypto Contagion? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. You’ve seen the news: People fear a so-called "crypto contagion", which ...

23 Marras 20222min

Why we believe in the future of web3 - Crypto in Plain English - Episode 300 - by cryptohunt.it

Why we believe in the future of web3 - Crypto in Plain English - Episode 300 - by cryptohunt.it

Get Crypto Certified Here! Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. … But today, we mix it up again. It’s a special episode. For 1 and a half...

22 Marras 20229min

FTX - The incredible revelations we just heard about - Crypto in Plain English - Episode 299 - by cryptohunt.it

FTX - The incredible revelations we just heard about - Crypto in Plain English - Episode 299 - by cryptohunt.it

FTX - The incredible revelations we just heard about Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. Just when you thought the drama around FTX, the...

21 Marras 20223min

How to create a crypto wallet and take control of your funds - Crypto in Plain English - Episode 298 - by cryptohunt.it

How to create a crypto wallet and take control of your funds - Crypto in Plain English - Episode 298 - by cryptohunt.it

How to create a crypto wallet and take control of your funds Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. In light of FTX’s collapse, the amount ...

18 Marras 20223min

How to save crypto keys for the long run - Crypto in Plain English - Episode 297 - by cryptohunt.it

How to save crypto keys for the long run - Crypto in Plain English - Episode 297 - by cryptohunt.it

How to save crypto keys for the long run Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. Remember yesterday's episode about those pesky, hard to mem...

17 Marras 20223min

Crypto keys: Dos and donts - Crypto in Plain English - Episode 296 - by cryptohunt.it

Crypto keys: Dos and donts - Crypto in Plain English - Episode 296 - by cryptohunt.it

Crypto keys: Dos and donts Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. Today, we’ll pick up where we left off yesterday. Remember that our goal ...

16 Marras 20222min

Why crypto keys are necessary, but so hard to remember - Crypto in Plain English - Episode 295 - by cryptohunt.it

Why crypto keys are necessary, but so hard to remember - Crypto in Plain English - Episode 295 - by cryptohunt.it

Why crypto keys are necessary, but so hard to remember Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. This week, we’ll host several episodes to hel...

15 Marras 20223min

Why exchanges like FTX lose customer funds and how you can protect yourself - Crypto in Plain English - Episode 294 - by cryptohunt.it

Why exchanges like FTX lose customer funds and how you can protect yourself - Crypto in Plain English - Episode 294 - by cryptohunt.it

Why exchanges like FTX lose customer funds and how you can protect yourself Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. Just when you thought th...

14 Marras 20222min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
rss-rahamania
ostan-asuntoja-podcast
hyva-paha-johtaminen
rss-lahtijat
rss-sisalto-kuntoon
rss-seuraava-potilas
rss-sami-miettinen-neuvottelija
rss-startup-ministerio
herrasmieshakkerit
rahapuhetta
lakicast
rss-porssipuhetta
asuntoasiaa-paivakirjat
rss-set-for-life-sijoita-ja-vaurastu
rss-viisas-raha-podi
rss-vaikuttavan-opettajan-vierella