Whether cryptocurrency or NFT, a digital asset operates on the blockchain system. A blockchain is simply a ‘book of transactions.’ The great advantage of this ‘trade ledger’ is that it enables ‘credit transactions.’ The most important aspect of a credit transaction is a ‘book’ that proves whether the payment has not yet been made or has been paid in full. Blockchain is a system that makes this ‘ledger’ unchangeable and immune to theft. In other words, the nature and properties of digital assets today are more similar to ‘bonds.’ When someone steals the ‘ledger’ in a ‘credit transaction,’ everything disappears unless a copy exists. If the recorded transactions in the ledger are a means of payment, it is called ‘currency,’ and if it’s ‘art’ or ‘content,’ it’s called ‘NFT.’ They differ only in what they represent, despite sharing similar properties. - Joseph’s “just my thoughts”
Algorithms are the foundation of how a system functions. A system is a large structure where each component is connected by a specific energy that forms relationships, and the entire system moves in a set direction. Understanding an algorithm provides insight into the system, how it operates, and its overall direction. However, creating an algorithm requires the system creator to take a risk and pay a price for the entire system. That’s why designing an algorithm isn’t easy, even though using one is simple. Once an algorithm is developed, system members become reliant on it. The way to break this reliance is to either discard the algorithm or develop a new one. Knowing which system you belong to and how it functions is extremely important. - Joseph’s “just my thoughts”