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Bitcoin Mind Map, References: Hanna, K. T. (2023). wiki. WhatIs.com. https…
Bitcoin Mind Map
NFTs
Are built on blockchain technology which provide transparency, security, and immutability
They contain metadata that specifies information about the asset. Including: title, description, provenance, and creator's royalties or rights.
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Are unique digital assets that represent ownership of a specific item such as artwork, collectibles, music, etc
Bitcoin
Cryptographic principles and advanced cryptographic techniques makes bitcoin resistant to fraud and counterfeiting
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Mining is the process in wich computers solve complex mathematical problems to validate transactions and add them to the blockchain
Stablecoins
There are different types of stablecoins as: fiat-collateralized, cryptocurrency-collateralized, and algorithmic stablecoins.
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Fiat-collateralized stablecoins derive their value from reserves of fiat currency that are securely held in a bank account.
These cryptocurrencies are specifically created to reduce price fluctuations by linking their worth to an existing asset as US dollars
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OpenSource
It promotes collaboration and encourages individuals from around the world to contribute to the improvement and enhancement of the software
This software often benefits from the collective intelligence and expertise of a diverse community of developers
A type of software available for free to the public, allowing them to access, use, modify, and distribute the source code according to their needs
Chat GPT
This language model has been trained on a wide range of internet data, which allows it to generate coherent responses
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Its goal is to assist users in generating helpful responses by providing useful information, suggestions and explanations
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De-Fi
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DeFi services include: borrowing platforms, yield farming, decentralized exchanges (DEXs), asset management, liquidity provision, stablecoins and insurance
Eliminates the need for intermediaries like banks or brokers, this allows individuals to directly interact with financial services.
Refers to a set of financial applications and platforms that aim to provide traditional financial services in a decentralized and permissionless way
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Cryptocurrency
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There are thousands of other cryptocurrencies, with different features and purposes often referred to as altcoins
We some owns a cryptocurrencie, is given a private key with a secret code that allows the owner to access and transfer their cryptocurrency and a public key that it´s used to receive funds
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