Episode Summary

Today On Crypto Daily:

You asked we answered!

• What is the difference between Crypto and Blockchain?
• What is proof of work ?
• What is proof of stake?

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Unedited Transcript:

Hey everyone. Happy Friday. My name is Joe Dewitt and this is crypto daily. Jumping straight into it. Taking a look at Bitcoin yesterday's green candle stick closed above the previous red candle stick. Today, we are looking solid. We are looking towards an uptrend towards our all-time high of 64,000. It looks like Bitcoin is losing a little bit of volume.

If we can continue to see that volume coming in, though, that would be a nice, a bullish sign. We will need that volume momentum to get back towards that 64 60 $5,000 zone. If we fail to see this volume, come in, that may be a sign for a little bit of consolidation for Bitcoin. Taking a look at a theorem.

Ethereum looks good at this daily candlestick actually broke all time. Highs just barely, just by a few dollars. We quickly came down as price was contested. Ideally if market sentiment can stay strong. Volume can continue to come in with a theorem. We should get above that 4,400 level. If Bitcoin starts consolidating and momentum is lost theory and will be falling back towards that 4,000 levels zone.

The doge coin chart is looking good. It looks like we are trending in the upwards direction. After yesterday's large green candlestick today is going to be a small pullback as people hesitate as price. It looks like now price is holding that 200 day moving average at 28 cents. If dos coin price action can continue to hold that 200 day moving average.

We should bounce off of their back to that 35 cent zone looking towards an uptrend. And today I'm going to answer a question we have here at Penn Zynga, our cryptos and blockchain. The same on this is a very common question and misconception. Um, crypto and blockchain aren't necessarily the same, but crypto.

Cryptocurrency are built on blockchains. So a crypto is an actual, what crypto means is cryptocurrency. So that is actually speaking of the asset itself. Blockchain in itself is a database. So it's essentially a collection of information that is stored electronically through the decentralized computers.

And the, the blockchain is kept secure through different consensus mechanisms. Um, the two most prevalent being proof of work and proof of stake, proof of work where, um, computer power is used to verify transactions and proof of stake is where it liquidity is used to verify transactions. Both of these mechanisms are used to achieve agreement and security throughout the entire network.

These are what allow blockchain to stay so secure. So crypto are built on blockchain, but they are not exactly the same. That's all the time we have today. Guys. Thank you so much. Make sure to follow and subscribe to our podcasts, which will all be in the description. Have a great weekend 

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