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Ever been to an art museum?
In fact, the crypto world is pretty much like an art museum.
You must know the Mona Lisa - the most renowned, imitated and re-created painting in the world.
Bitcoin, the world's largest crypto by market cap, is the "Mona Lisa" in our Museum of Crypto Art.
It's a challenger to the central banks in the traditional financial system, as anyone can trade or issue Bitcoins.
The Bitcoin blockchain is basically a public ledger verified by all network participants. When you are trading Bitcoin, only the numbers on that ledger will change. So Bitcoin is not a physical unit like a dollar bill, but rather a virtual commodity that shares some characteristics with the currency.
As of 2022, Bitcoin has been running for 15 years. Though with a humble beginning, its prevalence has been adopted by some nations, which speaks for its completeness and reliability.
At this moment, Bitcoin is priced at
65,060
Of course, there are other famous paintings besides the Mona Lisa. The Last Supper, Starry Night, Girl with a Pearl Earring - you've heard of them right?
In the Museum of Crypto Art, we get a similar story.There are many other cryptocurrencies besides bitcoin. They each use different mechanisms to solve existing problems, just like how artwork expresses different ideas with varying techniques.
They are called "Altcoins" - not very catchy, right?But don't get me wrong. That doesn't mean they are valuelessAny token issued with cryptography is a "cryptocurrency".Cryptocurrency is a digital money with which you can carry out transactions, but without any third-party intermediaries. It can be transferred easily to friends anywhere in the world without tedious procedures and endless review.
Let's move on to blockchain.
Remember how we compared cryptocurrency to artwork in an art museum?
Blockchain is the "pigment" of the paintings.
As the Mona Lisa (Bitcoin) is painted with this amazing "pigment", you can naturally create other impressive artworks with it.
The notion of "Blockchain" was derived from Bitcoin. But "blockchain" is more than "Bitcoin."
Blockchain originated from, and is the core technology of Bitcoin. Its technology can also be used in many other ways.
We will further explain blockchain for you.
Western art has gone through several important periods, the Middle Ages, the Renaissance, the Postmodern, and so on.
Similarly, cryptocurrency and blockchain are evolving through several periods.
The Mining Rush
During this period, digital currencies were better known as speculation. Mining, miners, mining machines and mining pools were the buzzwords of the day.
When it came to Bitcoin, people would be reminded of a Ponzi scheme. and there was skepticism about the revelations and changes that blockchain has brought.
DeFi Fever
At that time, Decentralized Finance became the focus of the crypto world. Liquidity mining and yield mining fully engaged the crypto community and users in DeFi, bringing about the "DeFi Summer".
Meanwhile, the scenarios of Blockchain technology have been expanded from merely cryptocurrencies to more applications.
Welcome to Metaverse
The metaverse and NFTs came after Decentralized Finance (DeFi). For a time, humans were on the brink of stepping into the spectacular metaverse any second.
Top auction houses such as Sotheby's and Christie's have joined the NFT auction market, and the properties and lands of the Metaverse went on sale. During this period, the blockchain came into the spotlight and became widely known beyond the crypto community.
Now you must be wondering,how to trade your assets in this art museum?
Although cryptocurrencies are different from traditional assets, there is an unchanged principle: Do your own research (DYOR) before making any investment.
Some people enjoy collecting artworks.Others may indulge in trading artworks.
Crypto lovers have their own preferences too.
Some crypto lovers are staunch “HODLer” who hold an asset for a long time, regardless of the rise and falls in price.
Some crypto lovers are keen on researching and buying new crypto investment products.
Others are trading aficionados thrilled by frequent wagers on short-term price trends.
Regardless of your trading style, you may find useful crypto knowledge here→
Congratulations! You're now a savvy crypto lover.
Now that you've had a better understanding of the Crypto Museum.Want to learn more?
Let's visit Gate Learn right now!
To get the inner beauty of those classic paintings, you’d better appreciate them from different angles.
Likewise, the ability to analyse and judge on your own is indispensable in crypto market.
And those analytical tools and methods used for traditional assets may also be applied in the crypto market.
Congratulations! You're now a savvy crypto lover.
Now that you've had a better understanding of the Crypto Museum.Want to learn more?
Let's visit Gate Learn right now!