#CryptoRoundTableRemarks

“Crypto” is short for cryptocurrency, a digital or virtual form of money that uses cryptography for security and operates on decentralized networks — usually blockchains.

🔹 Key Concepts in Crypto

1. Cryptocurrency

A form of digital currency.

Works without a central authority (like a bank or government).

Examples: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), XRP.

2. Blockchain

A distributed ledger technology (DLT) that records transactions across many computers.

It’s immutable, transparent, and decentralized.

3. Decentralization

No single party controls the system.

Power is distributed among network participants (nodes/validators).

4. Smart Contracts

Self-executing contracts with code-based rules.

Popularized by Ethereum and used in decentralized apps (dApps).

5. Wallets

Used to store and manage crypto assets.

Can be hot (connected to the internet) or cold (offline for security).

🔹 Major Areas of Crypto

🏦 DeFi (Decentralized Finance)

Banking without banks: loans, savings, exchanges via smart contracts.

Projects: Uniswap, Aave, Compound.

🎨 NFTs (Non-Fungible Tokens)

Unique digital assets: art, music, gaming items.

Standards: ERC-721, ERC-1155.

🏛️ DAOs (Decentralized Autonomous Organizations)

Community-run organizations governed by token holders via voting.

💱 Exchanges

Centralized (CEX): Binance, Coinbase.

Decentralized (DEX): Uniswap, SushiSwap.

🔹 Benefits of Crypto

Borderless transactions

Lower fees compared to traditional banking

Full ownership of assets

Transparency and traceability

Financial inclusion

🔹 Risks and Challenges

Volatility and speculation

Scams and frauds

Regulatory uncertainty

Technical complexity

Environmental concerns (less so after Ethereum’s shift to Proof-of-Stake)