In simple terms, staking means getting rewards for locking up coins. So, if you invest in a coin that supports staking, you could build up a larger holding over time.
Ethereum is powered by a fungible token, ETH, which is used to incentivize the physical computers that underlie the system. ETH is also the system’s native currency for transactions, like NFT purchases.
Some people see cryptocurrencies as speculative assets with no real utility at best, a Ponzi scam at worst. For others, they’re the future of money. Do Kwon, founder and CEO of Terraform Labs, the company behind the Terra blockchain, discusses his vision for a decentralized financial ecosystem with Azeem Azhar.
When the economic incentives are stacked up against you, it’s easy to convince yourself nothing matters. But even if you ignore that inner voice, it never goes away. It's always there, poking and prodding, reminding you that you're off track, and that you have so much more to give.
Web3 platforms also have the potential to unlock a novel and especially powerful form of network effect through community engagement and social cohesion.
Many successful organizations pride themselves on moving quickly to tackle problems. But over time, they start to feel way, way slower. Accomplishing previously simple things feels like it takes forever...This happens in every successful organization over time.