API & SDK Toolkit

An A.P.I., Application Programming Interface, is an interface that allows software to interact with other software. Designers think of it as a Rosetta Stone or tablet by which two vastly different languages can be translated and transferred for mutual understanding.

SDK toolkit, Software Development Kit, is a set of tools; libraries, documentation, code samples, processes and guides that allow developers to create software applications on a specific platform.

If API can be thought of as a set of building blocks, an SDK Toolkit is a workshop facilitating creation outside the scopes of what an API allows.

The Birth of Crypto Community: History in Brief

In 1992, computer scientists Cynthia Dwork and Moni Naor proposed the idea that solving computational puzzles could have value. Seventeen years later, but only one year after the 2008 stock -market crash and largely as a result of a growing distrust of fractional -reserve banking which requires lending institutions to hold a percentage of clients funds in trust and available for immediate withdrawal, Satoshi Nakamoto (a presumed pseudonym) expanded their idea and posted a link to a paper detailing methods of peer to peer network described as a “ system of electronic transactions without relying on trust”.  On 3. January 2009, Nakamoto mined the genesis block of bitcoin which carried a reward of 50 coins. The community was born.

Badges

Badges are a non-fungible token similar to diplomas. Badges may show proof of attendance at an event (Proof of Attendance Protocol or “POAP”) or proof of learning or commitment to a particular tech stack. Badges often yield rewards for those who have earned them.

Crypto Community

Initially the community was comprised mostly of young people inspired by the possibility of developing an alternative to mainstream financial institutions. Soon this small community of cryptologists and computer scientists grew and became a network defined by no borders. Members are located across geographic borders in virtually every country and territory.  Members include miners (see below), computer scientists, computer programmers, designers, traders, and millions of investors. Even as they work to develop an ever more sophisticated “ system of electronic transactions that do not rely on trust, members are bound by a relation of trust and a commitment to decentralized governance and transparency.

DeFi

Defi is an acronym meaning decentralized finance.

Digital Assets

All assets used by the crypto community are virtual assets that utilize an advanced encryption technique that assures the authenticity of crypto-assets by rendering both counterfeiting and double- spending impossible.

Cryptocurrency & Tokens are the two main types of digital assets.

Crypto-currency is the native asset of a blockchain.  New currency can only be “mined” (see below). Tokens are created as part of a platform that is built on an existing blockchain. Both cryptocurrency and tokens can be stored and exchanged.

Digital Wallet

A digital wallet, also known as an e-wallet is a device, online service or software that allows one party to make electronic transactions with another party. Such transactions may include purchasing items on- line, depositing or withdrawing money to and from bank accounts.  Wallets can also store and retrieve a user's health and library card and driver’s license.

Wallets can be ‘hot” meaning that they are connected to the net or cold. Cold wallets are offline and mostly used for storing keys or data.

Newly designed wallets can authenticate user’s credentials. They can verify age and address. They can hold and present travel documentation, concert tickets etc. A digital wallet can also store private keys for cryptocurrencies.