What is cryptocurrency and blockchain technology?

Article author
Thibaut P.
  • Updated

To quote our Sorare co-founder Nicolas “Blockchain technology gives Sorare cards super powers”. With blockchain technology our licenced digital cards have provable scarcity. If you own a Sorare card it is yours. You have complete ownership of your card and it can be used in the open world. It can be used in other games that use Sorare cards, the opportunities are endless.  

 

Our digital cards are Non-fungible tokens (NFTs). NFTs are used to create verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms. NFTs are used in several specific applications that require unique digital items like crypto-gaming, crypto art, crypto-collectibles.


For a slightly more technical definition, please read below: 

A cryptocurrency 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.

 

A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.

 



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