The idea of decentralized autonomous organizations have been capturing the attention of mainstream investors in recent years. Coming in all shapes and structures, simply put “a DAO is an internet community with a shared bank account”, most of the time running on blockchain technology.
A blockchain can be described as a distributed database that is shared among the nodes of a computer network. As a database, it stores information in an electronically digital format, and is known for its crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions.
Otherwise known as Decentralized Finance, DeFi is an open and global financial system built for the internet age - an alternative to a system that’s opaque, tightly controlled, and held together by decades-old infrastructure and processes. It gives you control and visibility over your money.
A decentralized application, or dApp, is a distributed open source software application that runs on a peer-to-peer blockchain network rather than on a single computer.
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NFTs are unique digital tokens on a blockchain that can't be replicated and can represent real-world assets such as artwork and real estate. They make buying, selling, and trading more efficient and reduce fraud potential. They also can be used for digital ownership such as identities and property rights. Their value initially rose, drawing interest from collectors, but has since stabilized.