Thanx, I did think of one question this morning.
When they say 'print blurt' as in printing money what exactly is it they make?
I imagine it's a string of digits for each 'token' each one individual?
When they 'burn' the blurts do they just delete each string of digits?
Yes I think analogies are a very good way of explaining things simply.
I thought of a new one but not sure how accurate it is. Gambling casino chips! Could crypto be compared to those in a way?
lol. I often compare tokens to casino chaips!
many similarities, eg can only be used in that one casino, or possibly one within the same company.
Similarly, the cost of a chip is nominal, merely the cost of manufacture, and not the face value - yet it has the face value while in your "wallet".
Creating coins is just a creation-function based on global-parameters eg how many, when, inflation rate etc.
This ill-fated SMT paper gives you an idea, as setting up an SMT token is quite similar to the underlying STEEM setup.
https://smt.steem.com/smt-whitepaper.pdf
OK good so I'm not crazy then lol. So my staked blurt are kind of shares in Blurt?
this might be of interest
https://forkast.news/defi-real-estate-revolution-tokenization-rise/
yes seems my casino chips were right. Means I am understanding.
I hope his series of articles is more interesting.
I found he started going into "naive territory", in that the ideals of tokenisation are ignored on a daily basis by both malicious and plain bad code, and poorly designed algorithms.
Maybe this is the end of the beginning - time to grow up!
no, no, no... you can't call them that - they are stakes!
lmfao
like the difference between a race and a people.
But yeah - shares - the difference is that shares in most companies are fixed and require special resolutions to change that. It does happen that new shares are created. In most crypto, the shares/coins are created algorithmically - this does not happen with corporate shares - not yet.
right lol