A to Z of Crypto (For Beginners)

I was arranging alphabet jigsaw puzzles with my toddler son the other day when it struck me that I could use A-Z to introduce crypto to my students.

The crypto world offers us a mind-blowing array of choices, so it can be difficult for us newbies to differentiate one coin from another and distinguish one token from another. So I thought the alphabet would be an useful anchor to aid in memory retention and recall.

I wrote this in child-friendly language as this list is written primarily for my students. But I sure hope that you will learn a thing or two!

A is for AAVE. Aave lets you deposit crypto into pools and earn interest from them. It's like putting digital money in a digital bank.

B is for Bitcoin. Bitcoin is the first crypto invented in the history of mankind. That's why it is often called "digital gold" as it helps you pay friends and merchants. Did you know that El Salvador use it as legal tender?

C is for Cardano. Cardano uses smart contracts to enable decentralised systems. To do that, it uses Proof-of-Stake blockchain technology. It is similar to Ethereum, so that's why it is often affectionately called the "Ethereum killer".

D is for Dogecoin. Dogecoin was created to make fun of other cryptocurrencies. But now, it is serious business. Elon Musk, the founder of Tesla loves it so much that he wants to let people buy some Tesla merchandise with Dogecoin.

E is for Ethereum. Like Cardano, Ethereum employs smart contracts to build decentralised systems. Ethereum 1.0 runs on a Proof-of-Work blockchain technology but it is now evolving into Ethereum 2.0, which runs on a Proof-of-Stake protocol. So it is similar to Cardano. Same same, but different. Except that network fees for Ethereum are super expensive!

F is for Filecoin. Filecoin is a storage network for people who have a lot of digital data and other kinds of information. Just think of it as the decentralised version of Dropbox or iCloud.

G is for Gala. Gala is a token that you earn by playing blockchain games. You can use Gala tokens to decide how you want these games to be developed. But do your homework before playing first!

H is for Helium. Helium connects Internet of Things (IoT) devices to the Internet. However, it uses Low Power, Wide Area (LPWA) protocol instead of cellulae technology. Is it a direct competitor with 5G networks, you ask me? I have no clue. Let's find out!

I is for IOTA. IOTA is a distributed ledger that helps record and execute transactions between IoT devices and machines. What kinds of transactions? You know, like financial data and payments.

J is for JUST. JUST empowers decentralised finance systems. It's similar to AAVE, except that it runs on the TRON network.

K is for Klatyn. Developed by South Korean internet provider Kakao, Klatyn helps businesses build and operate their service-oriented blockchains atop the Klatyn protocol.

L is for Loopring. Loopring is an open protocol that helps people build decentralized exchanges on the Ethereum network.

M is for Monero. Want to send money to your friend but don't want the whole world to know? Monero lets you do that. Your name, your friend's name and the amount you send will be kept hidden by Monero as it is a privacy coin.

N is for Neo. Like the Ethereum blockchain network, Neo is another blockchain network that enables the development of smart contracts and digital assets.

O is for OKB. OKB is the native exchange token of a cryptocurrency exchange called OKEx. OKEx users collect these tokens so that they can receive discounts on trading fees whenever they buy or sell cryptocurrencies.

P is for Polkadot. Polkadot stands for inclusivity. Why so? Because it allows the transfer of all kinds of data and assets across different blockchains. So, the crypto space can be one big happy interconnected network.

Q is for Quant. Specifically targeted at enterprises, Quant employs distributed ledger technology (DLT) to facilitate interoperability across different systems and networks. Oh, interoperability? It is just a fancy word to describe how a system can work with and use the parts or equipment of another system.

R is for Ravencoin. Ravencoin is a peer-to-peer blockchain and helps you transfer digital assets to another party. Yes, this includes NFTs.

S is for Solana. Solana is for people who wish to build crypto apps that move super duper fast and handle lots of transactions at the same time.

T is for Tether. Tether is one of the most well-known stablecoins that keeps cryptocurrency valuations stable and maintains price stability. Homework for you today. Find out why Tether can be called the bad boy of cryptocurrencies.

U is for Uniswap. Uniswap is a decentralised finance platform that allows you to exchange cryptocurrencies. Some of your parents and relatives may be collecting Hi dollars through WhatsApp. This is because they hope to swap their Hi dollars for real cash on Uniswap at the end of one year!

V is for VeChain. VeChain uses smart contracts to boost supply chain management. One way it does so is to use RFID tags so that manufacturers can keep track of their products.

W is for Wrapped Bitcoin. Imagine Bitcoin wrapped up nicely in a fancy package with a colourful ribbon. So, Wrapped Bitcoin is basically Bitcoin wrapped as an ERC-20 token so that people can use it on the Ethereum blockchain. Remember how Bitcoin is the granddaddy of all cryptocurrencies? Here's a life lesson. When you are awesome at something, people will accommodate your quirks.

X is for XRP. XRP facilitates global cross-border payments. Fun fact: It is so fast and cheap that banks like Axis Bank and Yes bank employ XRP for their transactions.

Y is for yearn.finance. Yearn.finance runs on the Ethereum blockchain and helps users grow their digital assets through lending and trading.

Z is for Zcash. Want to send money to your friend but don't want the whole world to know? Zcash lets you do that. Your name, your friend's name and the amount you send will be kept hidden by Zcash as it is a privacy coin. Congratulations! You have been paying attention. Yes, Zcash is rather similar to Monero.

It will be interesting to see how many of these 26 coins and tokens will be around 5 years from now. What are you betting on? No, no, I'm not advocating gambling. I meant the coins and tokens that inspire confidence in you. Just like my teaching!

Incidentally, if you will like to support my writing, you may wish to consider using my referral code (https://globalhive.io/r/198822) from Global Hive (https://globalhive.io/home - the website if you are allergic to referral codes :P) to get your daily dose of Zcash as well as help me get more Zcash.

Also published on https://www.publish0x.com/cryptosensei/a-to-z-of-crypto-for-beginners-xknpzpm