So there are a lot of computers and servers across the world being used to maintain the existence of cryptocurrency and manage transactions. Part of the appeal of this technology is its security.” Blockchain is a decentralized technology spread across many computers that manages and records transactions. But the thing that’s important in all the gobbledygook there is the part about ledgers because that’s how they maintain their “value.”Īccording to NerdWallet, “Cryptocurrencies work using a technology called blockchain. Like all money, they have value because people just agree it does. And we know that all money is imaginary nowadays, but cryptos are like, extra imaginary. It’s not issued by a central government like the money we’re used to, it’s created by users. A crypto is a kind of money that can be exchanged for goods and services. Um … what? Let’s break this down really carefully. Here’s the definition straight from our old pal Wikipedia:Ī cryptocurrency, crypto currency or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. And that’s understandable given that the whole idea of cryptocurrency can give you a headache.

Well, we’re here to help.įirst off, to understand what’s going on with fan art we first have to understand cryptocurrency, which I will admit is something I’ve avoided for a while now.

I would also reccomend blocking who is running rampant with the system.” All over social media artists are in a panic over art being stolen and turned into cryptocurrency tokens, but how and why this is a concern is seriously complex. A viral tweet reads: “ Gotta stress the importance of art friends blocking which is actively allowing users to profit off of stealing your creative projects. There’s a storm brewing online among fan artists and other creatives on the net about “NFTs” and it’s not easy to understand at first glance.

Crypto x mirage fanart