The ABCs of Crypto: Teaching the next generation of Web3 users

This latest report presents an overview of two of the most popular use cases for blockchain technology — DeFi and NFTs — to help onboard the next generation of crypto users.

“How do we onboard the next billion users into crypto?” This is a question that gets thrown around at crypto conferences and metaverse meetups — one that people have been asking for some time. Reaching mass adoption may sound like a daunting task, but crypto media outlets like Cointelegraph help spread the news of what is going on in the cryptoverse every day, helping increase adoption.

Many people in the crypto space have likely had experiences where others ask them questions about various aspects of cryptocurrency, and trying to cohesively explain all the intricacies in one sitting can be a challenge. This tricky situation is what inspired the latest report from Cointelegraph Research.

Download the report on the Cointelegraph Research Terminal.

The “ABCs of Crypto” report is a perfect start for those new to blockchain, giving a high-level overview of the major cryptocurrencies and blockchains, decentralized finance (DeFi) and nonfungible tokens (NFTs). Throughout the report are links and references to all the useful resources found on Cointelegraph’s website. By combining these with other on-chain and statistical data from various sources, “ABCs of Crypto” is meant to be a starting place for those new to the space to learn about everything from why they should care about DeFi to the difference between hot and cold wallets and how NFT marketplaces work.

The world has just begun to adopt blockchain technology

Believe it or not, it took around five decades for electricity to be adopted by nearly 100% of households in the United States. It took the radio around four decades, color televisions took about three, and the internet took almost two decades. The adoption curve of modern technology seems to be getting shorter and shorter. The blockchain industry can be said to have started seeing adoption in the last five to six years. If Metcalfe’s law of exponential network effects spurred on by more users and usage holds true, blockchain may experience an even shorter adoption curve than other technologies of the past century.

DeFi and NFTs are good starting points

Finance and art are two aspects of the human experience that fit perfectly with blockchain, decentralized ledgers and all things crypto. The “ABCs of Crypto” report first focuses on understanding Bitcoin (BTC), then moves on to other major platforms like Ethereum before discussing decentralized exchanges. It continues on to give readers an introduction to the world of DeFi. Starting with a timeline of NFTs, the report also explores how nonfungible tokens can be used outside of digital art in the form of JPGs — including music, tickets, land and identity.

Cointelegraph Research’s latest report is a starting place to help bring new people into the world of crypto. What better way to become part of the change and put Metcalfe’s law into full effect than by helping at least one or two people hop on board and get comfortable with all that the future of money has to offer?

The Cointelegraph Research team

Cointelegraph’s Research department comprises some of the best talents in the blockchain industry. Bringing together academic rigor and filtered through practical, hard-won experience, the researchers on the team are committed to bringing the most accurate, insightful content available on the market.

Michael Tabone is the deputy director of research at Cointelegraph. The research team comprises subject matter experts from across the fields of finance, economics and technology to bring the premier source for industry reports and insightful analysis to the market. The team utilizes APIs from a variety of sources in order to provide accurate, useful information and analyses.

With decades of combined experience in traditional finance, business, engineering, technology and research, the Cointelegraph Research team is perfectly positioned to put its combined talents to proper use with the “ABCs of Crypto” report.

The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.