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)

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: ...

31 Jan 20232min

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In pla...

30 Jan 20232min

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In plain English. ...

27 Jan 20233min

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain Englis...

26 Jan 20232min

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain English. Yo...

25 Jan 20232min

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins Good morning, Cryptohunt community, to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and oth...

24 Jan 20232min

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: ...

23 Jan 20232min

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other g...

20 Jan 20232min

Populært innen Business og økonomi

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