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

Avsnitt(373)

What makes Ripple (XRP) special? - Crypto in Plain English - Episode 61 - by cryptohunt.it

What makes Ripple (XRP) special? - Crypto in Plain English - Episode 61 - by cryptohunt.it

What makes Ripple (XRP) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we dive into Ripple, one of the earliest cryptocurrencies out...

21 Dec 20211min

What make Cardano (ADA) special? - Crypto in Plain English - Episode 60 - by cryptohunt.it

What make Cardano (ADA) special? - Crypto in Plain English - Episode 60 - by cryptohunt.it

What make Cardano (ADA) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we talk about Cardano, one of the most popular blockchains o...

20 Dec 20211min

What is the Blockchain Trilemma? - Crypto in Plain English - Episode 59 - by cryptohunt.it

What is the Blockchain Trilemma? - Crypto in Plain English - Episode 59 - by cryptohunt.it

What is the Blockchain Trilemma? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we’ll talk about the three big problems every blockchain trie...

17 Dec 20212min

How safe are stable coins actually? - Crypto in Plain English - Episode 58 - by cryptohunt.it

How safe are stable coins actually? - Crypto in Plain English - Episode 58 - by cryptohunt.it

How safe are stable coins actually? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we’ll talk about how stable those Stable Coins actually ar...

16 Dec 20212min

056 - What makes Solana (SOL) special? - Crypto in Plain English - Episode 56 - by cryptohunt.it

056 - What makes Solana (SOL) special? - Crypto in Plain English - Episode 56 - by cryptohunt.it

What makes Solana (SOL) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about Solana! Solana is a blockchain technology th...

15 Dec 20211min

What makes USD Coin (USDC) special? - Crypto in Plain English - Episode 57 - by cryptohunt.it

What makes USD Coin (USDC) special? - Crypto in Plain English - Episode 57 - by cryptohunt.it

What makes USD Coin (USDC) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today is about yet another popular stable coin: USD Coin, also ca...

15 Dec 20211min

What makes Tether (USDT) special? - Crypto in Plain English - Episode 55 - by cryptohunt.it

What makes Tether (USDT) special? - Crypto in Plain English - Episode 55 - by cryptohunt.it

What makes Tether (USDT) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Before we start today, we want to share some exciting news. We just...

13 Dec 20212min

What makes the Binance Coin (BNB) special? - Crypto in Plain English - Episode 54 - by cryptohunt.it

What makes the Binance Coin (BNB) special? - Crypto in Plain English - Episode 54 - by cryptohunt.it

What makes the Binance Coin (BNB) special? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. We talked about Bitcoin and Ethereum, number 1 and 2 in ma...

10 Dec 20212min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
rss-svart-marknad
svd-tech-brief
badfluence
rss-borsens-finest
uppgang-och-fall
avanzapodden
bathina-en-podcast
fill-or-kill
rss-dagen-med-di
rss-inga-dumma-fragor-om-pengar
rss-kort-lang-analyspodden-fran-di
lastbilspodden
rikatillsammans-om-privatekonomi-rikedom-i-livet
borsmorgon
bilar-med-sladd
24fragor
tabberaset