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)

Why are brands like Nike getting into Web3? - Episode 309 - by cryptohunt.it

Why are brands like Nike getting into Web3? - Episode 309 - by cryptohunt.it

Why are brands like Nike getting into Web3? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. In yesterday’s episode, we took a deeper look at Nike’s ...

7 Joulu 20223min

What is .Swoosh by Nike? - Episode 308 - by cryptohunt.it

What is .Swoosh by Nike? - Episode 308 - by cryptohunt.it

What is .Swoosh by Nike? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. Why is Nike, the popular brand, even a topic on this podcast? Well - you ma...

6 Joulu 20223min

Why are blockchains used for IDs? - Episode 307 - by cryptohunt.it

Why are blockchains used for IDs? - Episode 307 - by cryptohunt.it

Why are blockchains used for IDs? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. If you haven’t heard of IDs on the blockchain, that’s because it’s...

5 Joulu 20222min

What is Proof of Reserves (PoR)? - Episode 306 - by cryptohunt.it

What is Proof of Reserves (PoR)? - Episode 306 - by cryptohunt.it

What is Proof of Reserves (PoR)? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. Have you heard about the latest wrinkle in the stable coin space? O...

2 Joulu 20222min

Why is Sam Bankman-Fried still giving interviews? - Episode 305 - by cryptohunt.it

Why is Sam Bankman-Fried still giving interviews? - Episode 305 - by cryptohunt.it

Why is Sam Bankman-Fried still giving interviews? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. For today’s episode, we’ll stick with our topic fr...

1 Joulu 20223min

BlockFi and the “FTX Domino Effect” - Episode 304 - by cryptohunt.it

BlockFi and the “FTX Domino Effect” - Episode 304 - by cryptohunt.it

BlockFi and the “FTX Domino Effect” Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. You heard the term here first: The “FTX Domino Effect”. It's tim...

30 Marras 20222min

Who is Changpeng Zhao (CZ)? - Episode 303 - by cryptohunt.it

Who is Changpeng Zhao (CZ)? - Episode 303 - by cryptohunt.it

Who is Changpeng Zhao (CZ)? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. Changpeng Zhao, in crypto circles also known as CZ, has been making the ...

29 Marras 20223min

What’s the difference between a Centralized Exchange (CEX) and a Decentralized Exchange (DEX)? - Crypto in Plain English - Episode 302 - by cryptohunt.it

What’s the difference between a Centralized Exchange (CEX) and a Decentralized Exchange (DEX)? - Crypto in Plain English - Episode 302 - by cryptohunt.it

What’s the difference between a Centralized Exchange (CEX) and a Decentralized Exchange (DEX)? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. By no...

28 Marras 20224min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
ostan-asuntoja-podcast
rss-rahamania
rahapuhetta
rss-laakispodi
rss-sisalto-kuntoon
herrasmieshakkerit
sijoituspodi
rss-seuraava-potilas
rss-draivi
rss-sami-miettinen-neuvottelija
sivutuloja-ja-sijoituksia
rss-lahtijat
rss-bisnesta-bebeja
rss-karon-grilli
rss-paasipodi
rss-porssipodi