DeFi Overview - Blockchain Technology, Bitcoin, Cryptocurrency and DeFi

Breaking down the principles behind crypto and DeFi and how it can so positively impact our world.

Hey there!

Welcome to Normal - where people can use revolutionary decentralized finance and crypto, easy and normal, like never before!

Are you confused or uneducated by all the buzzwords and innovations in DeFi? Like what even is blockchain technology, Bitcoin, or a cryptocurrency?

In this Normal blog we are going to break down the simplicity of these innovations for you to understand and capitalize upon! Welcome to the revolution :)

Let’s go!

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What Is Blockchain Technology? Why Is It Revolutionary?

Blockchain is a technological innovation that is a distributed database that is shared among the nodes of a computer network that anyone with internet access can participate with.

Blockchains are revolutionary for their ability to maintain a secure, autonomous, universal application, and decentralized record of transactions.

The innovation of blockchain technology came in 2009 when Bitcoin became public.

The data itself is automated publicly to record their transactions in groups, known as blocks.

Blocks have storage and time capacities that when met, they are closed and linked to the previously filled block, and all future built blocks will be additionally chained.

Since the database is automatically and permanently recording data, this foundational structure of blockchain technology makes a trusted and irreversible timeline of data.

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What Is Bitcoin? Why Is It Revolutionary?

Bitcoin is a software and digital phenomenon of set protocols and processes that created a revolutionary, universal & impenetrable currency or commodity.

Bitcoin is the first and most secure cryptocurrency that can be used anywhere in the world.

Bitcoin was founded by unknown creators known as Satoshi Nakamoto in 2008.

Since inception, Bitcoin has had a flawless operation and its processes and protocols have stayed in place to prevent fraud and ensure appreciation in its value.

The transactions on Bitcoins network get powered and confirmed by the volunteer mining network, which receives small rewards in Bitcoin for their computation energy to power Bitcoins distribution on the public ledger.

Anyone in existence can easily connect to Bitcoins network to store, buy, sell or transact with other individuals.

Bitcoin itself is designed to be the universal and ultimate storage of value.

Bitcoin has a layer 2 network called ‘Lightning Network’ and its purpose is for everyday transactions, instant and no fee transactions.

Simply, Bitcoin is the ultimate universal digital money that allows secure peer-to-peer transactions and storage of value with a deflationary foundation, meaning its value is only designed to grow against our inflating world.

Bitcoin’s present history shows an averaged yearly 2.5x increase since 2011.

Bitcoin continues to be an astonishing and blessed asset for all investors.

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Bitcoin’s Yearly Lows The Past Decade

2012: $4
2013: $13
2014: $289
2015: $172
2016: $355
2017: $756
2018: $3,191
2019: $3,391
2020: $4,107
2021: $28,700

We have foundational faith that Bitcoin is an ultimate storage of value and will continue to flourish in adoption for the long future, leading the decentralized finance and cryptocurrency industry.

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What Is Cryptocurrency? Why Is It Revolutionary?

A cryptocurrency is the digital asset being transacted on a blockchain that is secured by cryptography.

Cryptocurrencies range from a limitless application use-case and can provide utility to any organization or system.

There are over 7,000 cryptocurrencies!

Cryptocurrencies are revolutionary for their infrastructure which derives from blockchain technology, creating a secure, autonomous, universal application and decentralized record of transactions!

For example, Bitcoin was the first cryptocurrency!

In later blogs, you will learn all about other revolutionary cryptocurrencies like Ethereum, Solana, and more!

We believe cryptocurrencies are a blessed opportunity for any individual to allocate their capital and energy to!

Are you excited for the revolution?

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What Is Decentralized Finance (DeFi)? Why Is It Revolutionary?

DeFi is an emerging financial innovation industry that empowers the individuals finances with blockchain technology and cryptocurrency. Empowering individuals and their families like never before!

This system removes the control from a third party, centralized organization, bank or institution on your capital, taking advantage of your naive liquidity that you worked hard for! Do you ever see growth and yield in your savings account? You are going to be so excited to see the new revolution, full of yields and growth!

DeFi creates universal access, security and opportunity for its users.

DeFi eliminates fees and time for transacting capital with peers.

DeFi allows you to store and earn passive income on your cryptocurrencies through decentralized lending.

Anyone with internet connection can participate in the DeFi networks.

Overall, decentralized finance is an emerging industry that will continue to aggressively flourish and reward its patient and persistent individual participants.

We love the benefits of DeFi and work hard to constantly build new and exciting tools within it!

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