Guardian (GUARD) news

GoPlus (GPS): Protecting Every Transaction in the Decentralised World

What is GoPlus (GPS)? Security often struggles to keep pace with the evolving landscape of Web3, and GoPlus (GPS) stands as the first decentralised security network to protect users across the entire blockchain ecosystem. With an emphasis on transparency, adaptability, and user empowerment, GoPlus doesn't just safeguard Web3; it elevates the entire user experience. GoPlus integrates decentralised security services directly into blockchain architectures to create a seamless layer of protection that extends from the moment a transaction is initiated to its final confirmation. From detecting malicious contracts to preventing phishing attempts, GoPlus ensures that security is not an afterthought but a fundamental pillar of Web3. How GoPlus (GPS) Works Decentralised Data Foundation The GoPlus network begins with its Security Data Layer. This is a decentralised foundation that collects and verifies security intelligence in real-time. Contributors, including researchers and end-users, provide information on potential threats like scam tokens and phishing websites. This data undergoes a dual-layer verification process. The first layer uses computational tools and AI algorithms to validate information quickly, while the second involves dispute resolution by top-tier security experts. This approach ensures that every piece of data powering GoPlus's security engine is accurate, reliable, and transparent. The On-Chain Guardian At the heart of GoPlus's defence system lies its compute layer that features an on-chain firewall that operates natively within blockchain environments. This innovative solution integrates into blockchain sequencers and RPC nodes, intercepting harmful activities like address poisoning and unauthorised wallet access before they can impact users. Unlike traditional solutions, this firewall works silently in the background, preserving the user experience while delivering unparalleled protection. Personalised Security at Scale The User Security Module (USM) transforms GoPlus into a fully customisable security hub for individuals and projects alike. Designed for easy integration with wallets, dApps, and decentralised platforms, the USM allows users to tailor their security preferences. By automating complex tasks such as transaction risk assessments and permission checks, it empowers users with sophisticated tools while ensuring simplicity and efficiency. Intelligent Protection Powered by AI GoPlus takes a revolutionary approach to security by embedding artificial intelligence at every layer of its architecture. With GoPlus, AI translates complex technical threats into understandable insights for users. From simulating transactions across chains to identifying irregularities in smart contracts, GoPlus's AI-powered tools bridge the gap between technical complexity and everyday usability. This combination of intelligence and accessibility ensures that every user, whether novice or expert, can navigate Web3 with confidence. Cross-Chain Unity for Seamless Security As blockchain ecosystems diversify, GoPlus eliminates fragmentation by offering seamless cross-chain protection. With native integration into Ethereum, BNB Chain, and beyond, GoPlus ensures consistent security no matter where users choose to interact. This unified framework bridges the gaps between different blockchain networks, enabling smooth asset movement and secure dApp usage without requiring multiple security tools. The GPS Token The GPS token is the engine driving GoPlus's decentralised security ecosystem. Beyond its role as a utility token for paying security service fees, GPS unlocks participation in the governance of the network. Holders can propose improvements, vote on key decisions, and directly influence the future of Web3 security. For contributors such as data providers and AVS operators, locking GPS ensures alignment with the network's long-term goals while earning rewards for their efforts. Meanwhile, as a payment method, GPS facilitates access to features like the SafeToken Protocol, which standardises secure token creation and management for projects. By incentivising collaboration and innovation, GPS transforms Web3 security into a collective effort to make sure that every participant is an active participant in a safer, smarter blockchain ecosystem. GPS Goes Live on Bitget With its transformative approach to blockchain security, GPS is a gateway to a more secure decentralised future. Trading GPS on Bitget allows you to join a network designed to protect, innovate, and evolve with Web3. Be part of the GoPlus revolution and experience a world where every transaction is backed by cutting-edge security and a community committed to excellence. How to Trade GPS on Bitget Trading Available: 16 January 2025, 10:00 (UTC) Step 1: Go to GPS/USDT spot trading page Step 2: Enter the amount and the type of order, then click Buy/Sell Trade GPS on Bitget now! Disclaimers: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Nyan Heroes (NYAN): The Cat-Powered Shooter Game on Blockchain

What is Nyan Heroes (NYAN)? Nyan Heroes (NYAN) is a team-based hero shooter game where players control small cats that pilot massive robots called mechs. These mechs are equipped with various weapons and abilities, allowing players to engage in strategic battles against each other. The game is set in a fictional world called New Nekovia. How Nyan Heroes (NYAN) Works Embracing Cutting-Edge Technology Nyan Heroes is developed using the Unreal 5 engine, which provides stunning graphics and smooth gameplay. Additionally, the game integrates blockchain technology to support true asset ownership. This means that players can own and trade in-game items, creating a thriving economy powered by user-generated content (UGC) and artificial intelligence. Gameplay Mechanics ● Team-Based Objectives: Players are divided into two teams. Each team spawns on a map with unique objectives to complete. These objectives could be capturing a point, defending an area, or collecting certain items. The team that completes the objective first wins the round. ● Movement and Combat: The game features fast-paced combat, enhanced by the traversal abilities of the characters. The cats, or Guardians, have superpowered, cat-like movements, allowing them to climb buildings, rush through battlefields, and overcome obstacles. This dynamic movement system makes the game more exciting and strategic. ● Cat Pilots and Mechs: Players can switch between controlling the Guardian mechs and their cat pilots. Even if a mech is destroyed in battle, the cat pilot can continue fighting using their own unique skills, which can help turn the tide of battle. ● Hero Fantasy: Each character in Nyan Heroes has a unique identity and playstyle, with special abilities that define them. Players can choose from different heroes, each with their own strengths and weaknesses. ● Customization: While the core identity of each Guardian is fixed, players can customize their mech loadouts with various weapons and mods. These mods can be collected and crafted through gameplay, allowing for a wide range of strategic options. No single mod is inherently more powerful than another; instead, their effectiveness depends on how players use them. ● Guardians: Guardians are the mechs piloted by the cats, known as Nekovians. Each Guardian has unique abilities that dictate their playstyle, making each one distinct. Initially, there will be eight Guardian classes, each with its own set of abilities. Players can further customize their Guardians with mods to enhance their performance in different combat scenarios. Nyan Heroes Pass NFT The Nyan Heroes Pass is a collection of 11,111 unique NFTs representing the last remaining Genesis Nyans in the fight for Nekovia. These NFTs are more than just digital collectibles; they offer various benefits such as access to exclusive content, the right to create a Genesis origin story, and participation in the NyanDAO, a community-based initiative. Marketplace In the Nyan Heroes marketplace, players can trade items using CATNIP, the in-game currency. This trading system forms the foundation of the player-based economy. Players can also rent out items to others, earning a share of the borrower's earnings. These rental agreements are managed in-game, making it easy for players to engage in economic activities without needing extensive infrastructure. Future Features Nyan Heroes isn't just about competitive play; it also offers a rich PvE (player versus environment) mode called Adventure Mode. In this mode, players can embark on solo or cooperative adventures, battling against dangerous foes to regain control of the Nekovia frontier. This mode includes a compelling story with a cast of heroes and villains, offering another path to leveling up characters and unlocking new abilities. The game also features a Virtual World, a social hub where players can create their own digital identities, showcase their assets and achievements, and interact with other players. This hub serves as the base from which players can launch their PvE adventures and participate in various activities. NYAN Goes Live on Bitget Trading NYAN, the native token of Nyan Heroes, on Bitget offers a valuable opportunity to engage with the game’s ecosystem. NYAN serves as a multifunctional utility token, essential for various in-game activities such as minting items, paying marketplace fees, and entering competitions. Additionally, NYAN holders can participate in decentralized governance, influencing future game features. As network activity and marketplace transactions grow, the demand for NYAN increases, benefiting active players and ecosystem participants through reward redistribution. Supporting NYAN on Bitget helps sustain and enhance the Nyan Heroes ecosystem, making it a mutually beneficial venture for all involved. How to Trade NYAN on Bitget Listing time: May 21, 2024 Step 1: Go to NYANUSDT spot trading page Step 2: Enter the amount and the type of order, then click Buy/Sell Trade NYAN on Bitget now! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitget Learning Module 3, Episode 3: Centralized Finance (CeFi) and Decentralized Finance (DeFi)

Welcome back to our Learning Module series. In this article, we dive into the digital finance revolution, where Centralized Finance (CeFi) meets Decentralized Finance (DeFi ), creating a new, inclusive financial world. By the end of this article, you will gain a comprehensive understanding of how CeFi and DeFi converge to shape the future of finance, the unique advantages and challenges of each system, and how Bitget leverages these innovations to offer a secure, versatile, and user-friendly platform. Centralized Finance (CeFi) and Decentralized Finance (DeFi) | Blockchain Pro Understanding CeFi and DeFi Centralized Finance, or CeFi, is the bedrock of traditional finance, operating within the structured, regulated confines of established institutions like JP Morgan. CeFi has long been the guardian of financial transactions, offering a controlled environment where trading, lending, and a plethora of financial activities are conducted under stringent regulations. This traditional model has evolved with the advent of cryptocurrency platforms like Coinbase, which integrate the security of Centralized Finance (CeFi) with the agility of digital innovations. In contrast, Decentralized Finance, or DeFi, emerges as a beacon of autonomy, breaking free from the constraints of centralized oversight. Powered by blockchain technology, DeFi takes out the need for intermediaries, enabling users to directly manage their assets and engage in transactions through smart contracts. This shift not only democratizes finance but also introduces a new realm of financial operations, making it a critical component of the digital finance revolution. Source: AppInventiv.com Bridging Worlds: The CeFi and DeFi Synergy The relationship between CeFi and DeFi is not one of competition but of complementarity. CeFi, with its roots in the traditional banking system, provides a familiar platform for users to engage with the crypto realm through intermediaries like BlockFi, ensuring a blend of innovation and security. DeFi, on the other hand, champions direct user engagement, offering an unprecedented level of control and accessibility in financial transactions. This collaboration between CeFi and DeFi heralds a new dawn for financial inclusivity, addressing the global challenge of connecting almost 1 billion people to the financial ecosystem. DeFi, in particular, stands out as a champion of inclusivity, offering easy access to financial services and fulfilling blockchain's promise of open finance for all, regardless of geographical or economic barriers. Innovation and Inclusivity: The DeFi Revolution DeFi is not just about breaking free from traditional constraints; it's about redefining what's possible in finance. Innovations like staking and credit-free crypto loans, presented by platforms such as Aave and Compound, introduce new opportunities for earning interest and accessing liquidity, challenging the conventional financial landscape. Bitget: A Pioneer at the Intersection At the heart of this financial evolution is Bitget , a platform that epitomizes the synergy between CeFi and DeFi. By adopting the user-friendly interface of CeFi and the empowering technology of DeFi, Bitget offers a secure, flexible, and inclusive platform. This unique positioning allows Bitget to bridge the gap between traditional and digital finance, unlocking unparalleled opportunities for users worldwide. Bitget Wallet stands as a prime example of this CeFi and DeFi convergence, offering our community of 19 million users a gateway to the exciting NFT Marketplace and limitless DApp ecosystems. It embodies the secure and user-friendly environment that Bitget is known for, while leading the exploration into the vast potential of a unified financial ecosystem. That wraps up our dive into CeFi and DeFi, highlighting Bitget as a key player in blending these worlds. We hope this has been an enlightening journey into the promising realm of unified finance. Stay tuned for our next exploration into the dynamic world of finance, and remember—trade smarter.

Wormhole (W): Crossing Boundaries and the Quest for Optimized Blockchain Interoperability

What is Wormhole (W)? Wormhole (W) is a groundbreaking protocol that connects different blockchains and allows them to communicate with each other. Wormhole enables developers and users to take advantage of the unique features and advantages of various blockchain ecosystems, breaking down barriers and fostering collaboration in the decentralized world. How Wormhole (W) Works Architecture of Wormhole Wormhole's architecture consists of both on-chain and off-chain components, working together to enable seamless cross-chain communication. On-Chain Components: ● Wormhole Core Contract: The primary contract facilitating cross-chain communication. ● Emitter: Contracts that interact with the Wormhole Core Contract to emit messages. ● Transaction Logs: Blockchain-specific logs used by Guardians to observe emitted messages. Off-Chain Components: ● Guardian Network: Validators responsible for observing and validating messages emitted by the Core Contract. ● Verifiable Action Approvals (VAAs): Signed attestations of observed messages, produced by the Guardian Network. They are emitted whenever a cross-chain application interacts with the Wormhole Core Contract. ● Relayers: Off-chain processes responsible for delivering VAAs to the target chain. Ways to Relay Messages with Wormhole There are two primary ways to relay messages with Wormhole: automatic and specialized relaying. Automatic relaying requires no off-chain code and is currently only supported for EVM environments. On the other hand, specialized relaying allows developers to customize the relaying process, providing more flexibility and control. Whether it's automatic relaying or specialized relaying, Wormhole offers developers multiple options for transmitting messages between blockchains. Automatic relaying is simpler and requires no off-chain code, making it ideal for straightforward cross-chain applications. On the other hand, specialized relaying provides more customization options, allowing developers to tailor the relaying process to suit their specific needs. Utilities Wormhole opens up a world of possibilities for developers and users alike, enabling a wide range of cross-chain applications ● Cross-Chain Exchange: With Wormhole Connect, developers can build exchanges that accept deposits from any Wormhole-connected chain, significantly enhancing liquidity accessibility for users. ● Cross-Chain Governance: Groups spanning multiple blockchains can leverage Wormhole to facilitate combined voting on proposals. By using a designated "voting" chain, votes from different networks can be communicated effectively, enabling cross-chain governance. ● Cross-Chain Games: Imagine playing a game on a high-performance network like Solana while receiving rewards as NFTs on a different blockchain, such as Ethereum. Wormhole makes such cross-chain gaming experiences possible, and revolutionizes the gaming industry. W Goes Live on Bitget Wormhole represents a significant milestone in the evolution of blockchain technology. By bridging the gap between different blockchains, Wormhole opens up a world of possibilities for cross-chain applications, from decentralized exchanges to cross-chain governance and beyond. As the blockchain ecosystem continues to expand and innovate, Wormhole will undoubtedly play a pivotal role in shaping the future of decentralized finance and beyond. Trade W, the native token of Wormhole, on Bitget and seize the opportunity to participate in the evolving landscape of blockchain interoperability. With W listed on Bitget, you can engage in secure crypto trading and explore the potential of cross-chain communication facilitated by Wormhole. Join the growing community of traders and investors who recognize the value of W and its role in shaping the future of decentralized finance. How to Trade W on Bitget Listing time: April 3, 2024 Step 1: Go to WUSDT spot trading page Step 2: Enter the amount and the type of order, then click Buy/Sell As interoperability is becoming more important in blockchain, Wormhole represents an innovative solution that erases the gap between blockchain networks and forges a path towards a more interconnected future. Trade W on Bitget now! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

The Potential of Cryptocurrency for Charitable Giving

Discover the extraordinary potential of cryptocurrency to reshape charitable donations, bringing forth a new era of accessibility and efficiency through its decentralized and transparent nature. In this article, we delve into the boundless possibilities that cryptocurrency offers and the profound positive impact it can have on a global scale. The Potential of Cryptocurrency for Charitable Giving ​Decentralization Cryptocurrency brings a game-changing advantage to charitable giving: decentralization. Unlike traditional methods, where intermediaries dictate fund distribution, cryptocurrency enables direct and transparent transactions between donors and recipients. With this decentralized approach, donors gain remarkable control over their funds, ensuring they reach the intended recipients and serve the desired purpose. Moreover, charities can receive funds swiftly and efficiently, without the burden of expensive intermediaries. Say goodbye to red tape and welcome a new era of empowered giving, where transparency and efficiency go hand in hand, thanks to cryptocurrency. ​ Transparency​ Another advantage of cryptocurrency for charitable giving is transparency. Picture this: every transaction meticulously recorded on an immutable and transparent public ledger called the blockchain. With this transparency, donors gain unparalleled visibility into the destination and utilization of their funds. Transparency cultivates trust between donors and charities, granting donors an up-close view of the real impact their contributions have. Imagine the satisfaction of witnessing firsthand the positive change your donations bring about. Not only that, but this transparency acts as a guardian against fraud, ensuring donations are faithfully employed for their intended purpose. ​ Accessibility Cryptocurrency can also make charitable giving more accessible to people around the world. Since cryptocurrency transactions can be made from anywhere with an internet connection, donors can give to charities in other countries without the need for costly international transfer fees or currency conversions. ​ Donors can enhance the efficiency and cost-effectiveness of charitable giving by circumventing the fees and delays typically linked to conventional payment methods, thereby improving the process. ​ Innovation​ Finally, cryptocurrency has the potential to drive innovation in the charitable sector. With its decentralized and transparent nature, cryptocurrency can enable new forms of charitable giving, such as micro-donations or peer-to-peer giving. It can also enable new forms of impact investing, where donors can invest in social enterprises or other projects that have a social or environmental impact. This can help to create new opportunities for social and environmental change, and can help to drive innovation in the charitable sector. The Role of Bitget in Charitable Giving ​Bitget is a global leading cryptocurrency derivatives exchange that provides professional and secure digital asset trading services. Bitget, as a conscientious participant in the cryptocurrency industry, is dedicated to advancing philanthropy and providing assistance to organizations that actively contribute to positive change on a global scale. Therefore, Bitget has committed 1 million Turkish Lira to aiding the relief efforts in solidarity with people impacted by the earthquake in Turkey this year. In addition, we are exploring new ways to use cryptocurrency for charitable giving. For example, the company is currently probing the utilization of blockchain technology in order to establish donation platforms that offer enhanced transparency and efficiency. Through partnerships with fellow companies and organizations within the industry, Bitget is actively contributing to the development of a charitable sector that is characterized by increased transparency, improved accessibility, and a spirit of innovation. Conclusion ​Cryptocurrency has significant potential to transform the landscape of charitable giving. Its decentralized and transparent nature can greatly enhance accessibility, efficiency, and impact. Bitget, as a prominent platform for digital asset trading services, is dedicated to actively exploring innovative applications of cryptocurrency to drive social and environmental change. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

ZkSync Era Mainnet Release - The Self-Proclaimed End-Game for Ethereum Scaling

It is not an exaggeration to say that this is the season of Ethereum. From the innumerable releases and updates from Layer-2s, as well as the expansive growth of NFT and DeFi volumes, to the big Shanghai Upgrade, the Ethereum community has been buzzing with activity, proving again and again that the blockchain is a force to be reckoned with. One particular development that has caught the attention of many is the zkSync mainnet release in March, which is the first EVM-compatible rollup solution secured by zero-knowledge proofs. This release is expected to unlock a new level of adoption for Ethereum and pave the way for even more exciting developments in the near future. What is ZkSync Mainnet And How Does It Work? ZkSync, as the name implies, is a layer-2 that utilizes zk (zero-knowledge) rollups to process transactions on Ethereum. Zk rollup is a scaling solution that uses a type of cryptographic validity proofs called zero-knowledge proofs to bundle many transactions into a single batch and send it to Ethereum for verification of correctness. Funds are held on-chain, while computation and data storage are done off-chain, enabling high throughput yet still maintaining the security of Ethereum. Another prominent rollup scaling solution for Ethereum is Optimistic rollup. You can find out more about the two types and the comparison here. More specifically, zkSync implements a specific type of zk rollup named zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), which enhances privacy tremendously by allowing users to prove that they know or own something without revealing what that thing is. It is claimed that this type of zk makes transactions significantly cheaper and faster, leading to hyperscalability that can process “an unlimited number of transactions without a marginal impact on security or cost”. Matter Labs, the team behind zkSync, predicts that zk would be a key component to the mass adoption of blockchain, so they have been developing a zk rollup-based blockchain since 2019. In 2020, they released zkSync Lite (also known as zkSync 1.0) network, which has a TVL exceeding $86 million. Finally, on March 24, 2023, Matter Labs released a separate mainnet, zkSync Era, that has been in development for 4 years, marking the beginning of zkEVM. ZkSync Era aims to provide freedom, inclusivity, and trustlessness for all participants of the network. It is designed to be fully open-source, forkable, and decentralized. The community is encouraged to hold the core team accountable and steer them towards the goal of freedom. Pros And Cons of zkSync Era The new mainnet self-proclaims to be the end-game for Ethereum scaling. Whether that is true, we cannot be sure just yet. However, zkSync Era presents a lot of advantages that no one can deny: - Privacy: Privacy is the default mode for zkSync. As mentioned earlier, zk-SNARK allows users to prove that they have something without revealing what that thing is, making transactions extremely private. - Security: zkSync is much more secure than other layer-2 solutions even at lower costs because guardian nodes can be operated from an average consumer hardware, making the network highly decentralized. Even if more than two-thirds of total stake are controlled by one malicious entity, the attacker’s stake will be frozen and they do not get any economic benefits directly from the exploitation. Users can always access their funds in case validators act up and stop working, because data is always available off-chain. Moreover, the bridge to zkSync is built by the Matter Labs team themselves, and it only allows one-day-delayed withdrawals to mitigate bridge exploits. The Era mainnet has also been heavily tested in a year and audited by three big firms, the process of which cost $3.8 million. - Scalability: zkSync processes data off-chain and only puts them in bulk on-chain for final verification, so transaction speed and gas fee are minimized. This allows for a big increase in how much the system can handle, supposedly up to 100-200 times more than before. Another notable feature of zkSync is that it allows users to have the options to pay for transaction fees in the tokens being transferred, making it considerably more efficient and convenient for both developers and users. - Increasing demands for ETH: As zkSync does not introduce its own native token like most other layer-2s, it creates an increasing demand for ETH, since robust activities on zkSync drive the activities of the whole Ethereum ecosystem. While zkSync has many pros, there are also some disadvantages. It is inevitable since the blockchain has just been introduced, and as Matter Labs says “There’s lots and lots more engineering work to do.” For instance, on April 7, just less than a month after launch, it was reported that a project raised $1.7 million on zkSync, but the funds are stuck in the smart contract due to an error with the transfer function. The zkSync team responded quickly and worked with the said project to find a solution without doing a rollback. According to zkSync’s update tweets, it seems like zkEVM systems are new and more complex than the typical EVM everybody is accustomed to. While it is great that the team took action immediately to resolve the problem, it is unsure whether the increased complexity of zkEVM will pose a significant obstacle to its adoption. Everything is still too early to come to a solid conclusion. ZkSync is promising but it will need to be more rigorously battle-tested. Other zkEVM solutions like Polygon, Scroll, and Taiko are some of the direct competitors to zkSync. Which one will prevail? Time will be the answer. If you think zkEVM has a chance to be a key component in the future of blockchain like Matter Labs, Polygon, and various other institutions, you can stay ahead of the curve and join Bitget’s ZK Zone to earn up to $15,000 in rewards. Not a Bitget user yet? Sign up today for more insights and receive a $5005 reward! Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only. Qualified professionals should be consulted prior to making financial decisions.

Blockchain101: A Beginner’s Guide to Cryptocurrency

Cryptocurrency is probably one of the most hot topics and investments nowadays. Many people may only know Bitcoin. But actually, the development of cryptocurrencies is at a fast growing rate. More than thousands of coins are available on the market right now. In the following article, we will state the concept of cryptocurrency clearly for someone who is interested in but has no experience in crypto investing. What is cryptocurrency? Cryptocurrency is the decentralized digital money. Its creation and management are controlled by cryptography. The underlying technology behind cryptocurrencies is Blockchain, which is a data storage technology that prevents anyone from changing the data stored on the Blockchain. There is no centralized server to manage the Blockchain. Instead, they are run by thousands of computers distributed around the world. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger. What makes cryptocurrency unique? Decentralization is one of the key concepts of cryptocurrencies. In the traditional world, when the centralized server is shut down, users are not able to access the services provided by the server, just like the outage of Meta’s products, including Facebook, Instagram and Whatsapp, on October 4, 2021. You might not be able to log into your Instagram account on that day. But in the crypto world, users are able to send and receive cryptocurrencies without any intermediaries like financial institutions. Unlike fiat like USD, there is no centralized intermediate like banks and governments control the issuing, account management, transaction verification of cryptocurrencies and changing the rules without reaching consensus. Such as the Bitcoin system, which is run by thousands of computers distributed around the world. The network participants run software that connects them to other participants so that they can share information among themselves. Therefore, cryptocurrencies are able to function 24/7/365. Transactions are carried around the globe at any time and place without any interruption from anyone. Even if a computer is shut down, it won’t affect the function of the Bitcoin system. We can do transactions on the Internet without any third-party verification. What is public and private key cryptography? Public-key cryptography is what users rely on to send and receive funds. In order to use or transact Bitcoin, you need a wallet to store your coins, like opening a bank account. Anyone can create a new wallet by generating a pair of public and private keys. The public key is for encrypting and a private key is for decrypting the data. The public key acts as an address for the wallet that can be deposited in cryptocurrency. If you want to receive cryptos in any transactions, you have to disclose it to the sender so the sender is able to send you the coins. The private key acts as the password of the wallet that can prove your ownership of the wallet. A private key is a massive number that would be impossible for anyone to guess. You should keep your private key secret. If you don't back up the private key and lose it, you can no longer access your bitcoin wallet unless you figure out what your private key is. You can also create digital signatures by signing data with your private key. It is similar to a signature on a document in the real world. When you make a transaction, there will be an announcement of the transaction, which is signed and added to the crypto’s blockchain. Verifying the signature is valid or not by comparing it with the matching public key. In this way, the process of identity verification is simplified as the user doesn’t need to reveal their private key to prove their ownership of it. What is the difference between cryptocurrencies and tokens? It seems there is no difference between cryptocurrencies and tokens. They can all be exchanged and stored on the blockchain. Cryptocurrencies Tokens Function Act as money, such as a medium of exchange, store of value Can be used like cryptocurrencies but have Greater variety of usage, such as the smart contract function in Ethereum. Fungiblity Fungible Non-fungible or fungible Example ETH ERC-20 Just take an example, cryptocurrency is similar to the concept of money. The value of every 100 usd note is completely the same. The token is similar to the concept of stamp, as the design of each stamp may be different. The identical and special differences sometimes make its value reach over millions of dollars. Where to buy cryptocurrencies? There are several ways to buy cryptos, including: P2P (peer-to-peer) You can purchase Bitcoin directly from another individual in person or over the web in your own way. The transfer of the coins is done by sharing the public key of your wallet with the sender. DEX (Decentralized exchanges) Decentralized exchanges (DEX) is a type of cryptocurrency exchange which is set up for direct peer-to-peer cryptocurrency transactions to take place online without any intermediates. CEX (Centralized exchanges) Centralized exchange (CEX) is a type of cryptocurrency exchange which is set up by a third party to verify the transaction and manage the account. It acts as an intermediary between the buyers and sellers in the crypto market. It may be the simplest and most convenient option for crypto newbies as CEX acts like a guardian to lead them in the volatile cryptomarket with reliable security and regulations to prevent cheating from happening. Don’t you have an account on Bitget yet? Register a Bitget account now.