Virtual assets have become assets that are already familiar to us living in modern society.
In that familiar virtual asset, we can find words that are familiar or unfamiliar. In today's article, we're going to look at words related to virtual assets.
BLOCKCHAIN
Blockchain is a technology that stores data containing transaction details in block form and sequentially connects these blocks in chain form structure.
Each block has the advantage of being able to maintain transaction details transparently because transactions between individuals are recorded and transmitted to all participants participating in the transaction network.
Thanks to this feature, the blockchain system does not guarantee by a third party and compares the details of each transaction, allowing the transaction parties to exchange values safely.
DECENTRALIZATION
Decentralization refers to a form of autonomous operation according to a number of agreements in the network beyond centralization where data is concentrated on a specific server or institution.
Decentralization is operated in a peer-to-peer (P2P) manner by autonomous connection of participants participating in the blockchain, and there is no central organization.
If a decision is needed on a decentralized blockchain, it will be made through the consent of more than a majority of all participants in the project.
DeFi/DECENTRALIZED FINANCE
Defi means a decentralized financial system. Unlike banks and securities supervised by central institutions, it aims to provide financial services with only blockchain technology without control of central institutions.
In the case of general currency, financial services can be used as collateral for real estate and credit, but Defi can use financial services as collateral for virtual assets.
Defi is a highly efficient financial service in terms of infrastructure because it secures transparency through blockchain technology and contracts are made through Smart Contract.
NFT/Non-Fungible Token
NFT is now gaining huge popularity in the market. NFT, which means an irreplaceable token,
It has a function that can prove the original and ownership by using blockchain technology.
Virtual assets have the same conditions depending on the issuer, but NFT gives digital assets a separate identification value, which has the characteristics of scarcity and uniqueness, and the higher the value that the majority sympathizes with, the higher the difference.
In particular, NFT is interested in content. Previously, digital art and game items were highly utilized, but recently, fields that can be used such as fashion, sports, and entertainment are gradually expanding.
METAVERSE
Metaverse is a combination of Meta, which means "virtual" and "transcendence," and Universe, which means "space," which means a three-dimensional virtual world in which daily and economic activities such as the real world are carried out through avatars that replace me. As such, the core of metaverse is not reality, but virtual world! That is, expansion into the digital world.
Economic activities that were only possible in real life, using fast-developing technology infrastructure and digital environment,This is because cultural activities can be replaced through avatars.
In particular, due to social distancing caused by COVID-19, metaverse can be accessed more naturally in daily life. The range of applications such as virtual offices and concerts continues to expand. As such, in modern society, 'digital' and 'virtual' are becoming life.
In another reality that has become a natural thing and has become an ecosystem and life in harmony with us, we must accept and get used to it.
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