Mr_Crypt0o

🌦️ A smart contract doesn’t know whether it’s raining.

It can execute rules on the blockchain, but it can’t independently check the weather or the result of a game.

Oracles connect that code to external data: they query sources and provide information that the contract can use.

Chainlink is one example of an oracle network. Its token $LINK is used to pay the operators who provide these services.

The key point: correctly executing a rule doesn’t guarantee that the data received is correct. The quality of the sources and the design of the oracle matter too.

What other real-world data would be useful to a smart contract?

Source: Binance Academy — Chainlink
#Chainlink #blockchain #Web3

The author may receive rewards from Binance.

🔓 Closing the page doesn’t erase a permission on the blockchain.

Connecting a wallet to an app and authorizing it to spend tokens are two different permissions.

For example, an approval of $USDC on Ethereum allows a specific address to spend up to the authorized amount. It doesn’t automatically authorize all other tokens.

Disconnecting the app doesn’t revoke that approval: it may remain active even if you no longer visit the site.

Before signing, check the authorized address, the token, and the limit. Unlimited approvals increase your exposure if the contract is malicious or compromised.

Have you ever confused disconnecting with revoking?

Source: Binance — Aprobaciones en blockchain
#Seguridad #Web3 #Criptomonedas

The author may receive rewards from Binance.

🧊 What keeps a stablecoin stable?

For example, $USDC aims to maintain parity with the dollar. But that goal doesn’t guarantee its market price will be identical at all times.

When its price moves away from its benchmark, we call it a depeg, or loss of parity. This can be influenced by a lack of liquidity, doubts about reserves, or difficulties redeeming tokens.

Three questions to understand how it works:
• Reserves: What assets back the token?
• Redemption: Who can convert it directly with the issuer, and under what conditions?
• Liquidity: Is there enough market depth?

Each stablecoin has its own design and risks. Its name doesn’t make them go away.

What would you like to understand better: reserves or redemption?

Source: Binance Academy — Paridad de las stablecoins
#Stablecoins #USDC #Criptomonedas

The author may receive rewards from Binance.

⛽ Did a transaction fail and still incur a fee?

On Ethereum, fees are paid in $ETH , and gas measures the work required to execute an operation.

If a transaction is included in a block and fails during execution, its changes are reverted, but the work already done still has a cost. That’s why it can consume gas even if it doesn’t achieve what you intended.

Keep in mind the difference: if it’s rejected during validation, before being included in a block, it doesn’t consume gas.

The gas limit is the maximum amount of work allowed; it is not the fee price.

What did you find more confusing: gas, the limit, or the fee?

Source: Binance Academy — Límite de gas
#Ethereum #blockchain #Criptomonedas

The author may receive rewards from Binance.

🪙 A coin priced in cents isn’t automatically a bargain.

Comparing $BTC and $ETH by their unit price can be misleading. To compare their size, the number of coins in circulation matters too.

Market capitalization = price × coins in circulation.

Hypothetical example:
• A: US$0.10 × 1 billion = US$100 million.
• B: US$10 × 1 million = US$10 million.

A costs less per unit, but has a higher market capitalization. That doesn’t prove it’s a better investment either: liquidity, utility, and future issuance also matter.

Also, market capitalization isn’t the same as the amount of money that has flowed into the project.

What did you look at first: price or market capitalization?

Source: Binance Academy — Capitalización de mercado

#bitcoin #Ethereum #Criptomonedas

The author may receive rewards from Binance.

🔐 Three concepts to understand your wallet at $BTC

1️⃣ Public address: lets you receive funds. You can share it, although its activity can be viewed on the blockchain.

2️⃣ Private key: authorizes transactions. It must remain secret.

3️⃣ Recovery phrase: in wallets that use one, it lets you restore access. It should not be shared either.

There’s another important difference: with custodial wallets, a third party manages the keys; with non-custodial wallets, that responsibility is yours.

Which concept did you have the most questions about?

Source: Binance Academy — Billeteras de criptomonedas

#bitcoin #Criptomonedas #Seguridad

The author may receive rewards from Binance.