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Digital asset exchange - Coggle Diagram
Digital asset exchange
What is a digital asset?
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Shared public database, duplicated across computer systems.
New entries can be added, but existing entries cant be altered.
Each block contains info of the previous block, which maintains the order and structure of the blockchain as it grows.
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Digital asset types
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Stablecoins
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Linked to fiat currencies, commodities or other crypto assets.
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NFT
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Represents that the seller owns it and can sell, trade or redeem it.
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Digital asset storage
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Wallets help you store your keys securely, so only you can access / view your assets and ledger positions.
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Private key (think password) is used to prove ownership of your digital asset when you want to do something with it. e.g., if you want to send cryptocurrency to another person, you will need your private key signed to the transaction in order for it to be accepted as a new blockchain entry.