Decoding the mystery that Cryptocurrency, NFT, Cockapoo, and DAO are

by | Apr 8, 2022 | Cryptocurrency | 0 comments

NFT - Cockapoo

Introduction

You must have heard about Bitcoin, Ethereum, Solana, DogeCoin, etc. You must also have heard about people selling their art digitally online for huge amounts. You must have also heard terms such as Cockapoo and DAO. So let’s take a step forward from just hearing to understanding what these mean.

DAO

Let’s start by understanding DAO, which stands for Decentralised Autonomous Organisation.

The whole idea behind blockchains and cryptocurrencies is to not give the power in one single hand or a central entity, and that is what exactly DAO does.

It is an organization formed by people who follow no hierarchy or leadership patterns. They work towards common objectives and make rules and decisions, taking smart contracts on a blockchain as the basis. There is no need for a central entity because the rules and transactions made and took place are recorded on the blockchain itself.

NFT

NFT stands for Non Fungible Tokens.

These are digital assets that have the following features:

Non-fungible: These are unique, impossible to replicate, and carry such value that they are not exchangeable for another asset.

NFT - Cockapoo

Tokens: These unique items are not kept physically but over a network of blockchains and computers in digital form. From here are easily accessible for authentication and buy and sell.

There’s a huge range of what can be an NFT, such as art, music, photo, video, or even tweets. To buy these NFTs, a person would require crypto and fiat currencies or dollars, and platforms such as Open Sea make buying and selling NFT’s so much easier.

Cryptocurrency

Are the days of using legal tender authorized by the government or banks for buying and selling going? No, not really. But there is something that is becoming important in finance, known as cryptocurrency.

The name establishes that this is a currency, a form of payment, a store of value, but what makes the difference is it is digital and decentralized.

There’s no central entity involved in the authorization of transactions. It is made of cryptographic techniques and public distributed ledger and database based on blockchain technology.

Crypto - Cockapoo

These have been in the market for a long time. Still, people are now taking them seriously in terms of investment because of high volatility no centralization, and some of them have given great returns, such as Bitcoin and Ethereum.

You can easily buy or sell these cryptocurrencies using wallets.

This space also has coins based on trending internet memes and jokes known as meme coins, out of which one is Cockapoo.

Cockapoo

A new crypto project which is more than just being a meme coin. It is a dog token with a mobile app where the user requests pooper scoopers to clean dog poop. There is a direct relationship between the poop scooped on the app and the Cockapoo coins, which get added to the user’s wallet because 💰 CPOO is the payment medium.

This cryptocurrency is utility-driven because it is built on making dog poop removal profitable for people to take the initiative in that direction. In turn, the environment gets cleaner.

And for each user that holds Cockapoo, it redistributes 2% of every transaction to them.

Conclusion

So to say these are the most trending topics in every business and household would be quite an understatement. But to make sure you opt for only those trends which are actually useful and not just a fad, you must properly research and then not hesitate from experimenting and exploring with these concepts. It’s your hard-earned money, so you must always take calculated risks.

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