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

Episoder(373)

What is "Crypto Twitter"? - Crypto in Plain English - Episode 245 - by cryptohunt.it

What is "Crypto Twitter"? - Crypto in Plain English - Episode 245 - by cryptohunt.it

What is "Crypto Twitter"? Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host ...

6 Sep 20221min

What do "GM" and "GN" mean? - Crypto in Plain English - Episode 244 - by cryptohunt.it

What do "GM" and "GN" mean? - Crypto in Plain English - Episode 244 - by cryptohunt.it

What do "GM" and "GN" mean? Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your hos...

5 Sep 20221min

What does "FUD" stand for? - Crypto in Plain English - Episode 243 - by cryptohunt.it

What does "FUD" stand for? - Crypto in Plain English - Episode 243 - by cryptohunt.it

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show. "FUD" ...

2 Sep 20221min

What is FOMO and why is it so important to understand? - Crypto in Plain English - Episode 242 - by cryptohunt.it

What is FOMO and why is it so important to understand? - Crypto in Plain English - Episode 242 - by cryptohunt.it

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show. FOMO -...

1 Sep 20221min

What does “WAGMI” mean? - Crypto in Plain English - Episode 241 - by cryptohunt.it

What does “WAGMI” mean? - Crypto in Plain English - Episode 241 - by cryptohunt.it

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show. WAGMI ...

31 Aug 20221min

What are Tokenomics? - Crypto in Plain English - Episode 240 - by cryptohunt.it

What are Tokenomics? - Crypto in Plain English - Episode 240 - by cryptohunt.it

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. Tokenomics refer to the internal economics of a cryptocurrency or token. You have to understand that...

30 Aug 20221min

What does “apeing crypto” mean? - Crypto in Plain English - Episode 239 - by cryptohunt.it

What does “apeing crypto” mean? - Crypto in Plain English - Episode 239 - by cryptohunt.it

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. Bored Apes, Ape Coin… What’s up with all the monkeys in crypto? Well, they are all named after a cry...

29 Aug 20221min

Why are wallet sanctions a problem for blockchains? - Crypto in Plain English - Episode 238 - by cryptohunt.it

Why are wallet sanctions a problem for blockchains? - Crypto in Plain English - Episode 238 - by cryptohunt.it

CLICK HERE to level up your knowledge on Web3 through our FREE course! Why are wallet sanction a problem for blockchains? Welcome to the Cryptohunt Jam, where we spend one minute a day to explain cry...

26 Aug 20221min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
pengesnakk
tid-er-penger-en-podcast-med-peter-warren
finansredaksjonen
livet-pa-veien-med-jan-erik-larssen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
rss-sunn-okonomi
rss-markedspuls-2
lederpodden
liberal-halvtime
rss-pa-konto
rss-investering-gjort-enkelt