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Crypto Knowledge from LEOEDIA: Know it Yourself

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Kufray
@eldecor
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4 min read

Hi everyone. Greetings to you.. I wanna really make out time to say a big thank you to @Uyobong for always hosting this amazing contest for focuses on helping new comers to understudy and off course share their amazing discoveries with the world about the entire leofinance. But quite unfortunately, many people see it as though it is actually nothing worth engaging or perhaps they see it as though it is not valueful. Today i will be submitting my entry of the LeoPedia review writing contest of @Uyobong.

I am not really excited because some times i am the only person taking part in this contest. Oh! maybe i should be blowing trumpet because after this writing, i will be earning a whopping 30 LEO as my reward for participating in the contest but i am not happy because this is an awesome opportunity for people to learn and know things for themselves but the are ignoring it. Well i've got to do this alone again.

My greatest desire joining the hive blockchain have been to make some good money so i can support my family as well as myself but i had challenges getting that dream because i was not expose to the right knowledge at the right time. Knowledge has power to a certain but knowledge put to work has the ultimate power. Participating in the last two contest has really boosted by engagement on this blockchain because it is my performance is much better than what it used to be when i first onboarded.

Now the first thing that comes into the minds of people whenever the hear the word pedia, is wikipedia that first of all pulps up in their mind because it is assumed to be one whale of knowledge or it call wisdom bank of the internet. And like wikipedia, LeoPedia is also a whale of focused information on blockchain, cryptocurrency, DeFi, hive and lot more. One might be confused a bit about this but let me clear your confussion, LeoPedia is not like LeoDex or HiveState, LeoPedia is actually an information bank for Leofinance. So we will take a little survey of the DApp.

To get started, all you need to do is to load LeoPedia official page LeoPedia.io and you don't need to login to access info's here and that makes you free from going through the stress of hivesinger of Hive keychain.

I think i wouldn't be wrong if call LeoPedia Blockchain Educator.

As part of the focus of this contest, we were asked to read and article, summarize it and then make a mention of it in this post. So i read about What is Wrapped Bitcoin (wBTC)? authored by @khaleelkazi and it was authored on 7/16/20. I read this article because one of my desires is to own at least two BTC tokens before i think of totally ending my engagement of the blockchian and every peiece of information about it will make much sense.

Wrapped Bitcoin (wBTC) is an Ethereum-based token that represents 1 Bitcoin. The price of 1 wBTC is pegged to the price of 1 BTC. If Bitcoin is trading for $9,200 – for example – then wBTC is also trading for around $9,200. Bitcoin is the largest, most robust and decentralized computing network in the world.

This was really for me a spike while reading through the post. Ethereum has the largest pool of developers and projects on the bleeding edge of Decentralized Finance and other initiatives aimed at bringing real products & use cases into the hands of the masses.

As of the birth of this article (7/16/20), there was over 11,500 BTC held as Wrapped Bitcoin (wBTC) protocol. which in Worth is over $105 million USD.

Explore, learn and educate yourself about one of the most revolutionary movements in our lifetime.

In my observation, @khaleelkazi has authored many content on LeoPedia and it is majorly about the communication between ETH blockchain and other blockchains.

Wrapped hive is a bridge connecting hive blockchain to etherium and allows users and holders of hive to use ETH-based dApps and decentralized exchanges (DEXs) while retaining the value of their HIVE. Converting your HIVE into wrapped hive doesn't increase or decrease the value of your tokens, all it does is that it allows you to be able to communicate and use ETH DApps as a hiver.

A hardware wallet is a device that allows you to store cryptocurrencies in a relatively user-friendly way while also maintaining full control over your private keys. The most famous saying in crypto is: “not your keys, not your crypto.

Security of cryptocurrency assets is the greatest debate in the space. Everyone who has spent even a millisecond of time in crypto knows that there is a risk to being uninformed when it comes to storing and using your funds.

Answering the frequently as question about Hardware wallet which are:

  • Running Out of Space on My Ledger? What Happens When I Delete an App?
  • What Happens to My Crypto if The Ledger Company/Software Disappear Some Day?
  • What Happens to My Crypto During a Firmware Update, Device Reset and/or Loss of the Device Itself? Well i think i just have to stop here so i don't exceed the word limit we were given and the lenght of the post. I am looking forward to writing about LeoPedia again where i can explain all i know to the world.

Once again, a big thank you tp @Uyobong for his benevolence and love.

Posted Using LeoFinance Beta