Offical meta X musk Whitepaper, last upodated November 2021

Cryptocurrency represents a significant advancement. It is the first time in human history that value may be transferred digitally and decentralized, without authorities overstepping their boundaries. The beneficiaries of history's biggest wealth transfer will be those who comprehend this technology, or those who possess crypto-literacy. Typically, technology advancements are distributed from the top down: from the most privileged, and most connected, down to the people who truly need those advances.

The Internet truly revolutionized the world by establishing a way to digitally transfer information, and to bridge that gap of asymmetric information, allowing access to knowledge to transfer more freely. With mainstream attention and barriers to access dissolved in recent years, crypto culture has become a swirling vortex of hype, high-risk schemes, and predatory behaviour.

Nowadays, Decentralized finance(DeFi), Meme, and Non-fungible token (NFT) are the three most popular domains of blockchain-based markets. The popularity of Defi has exploded in recent years. DeFi market size has grown by over 300%; Commissioned research estimates the number of wallets actively interacting with DeFi protocols is over 1.2 million. With the complete launching of Ethereum 2.0, DeFi will further register exponential growth. Along with the popularity of Meme cryptocurrencies, that started as a joke, like DOGE and SHIBA, has become one of the leading tokens by market cap. Finally, we have Non-fungible token (NFT), which is used to represent ownership of unique items.

This being said, cryptocurrency has been buoyed by humour, excitement, and speculative assets since its first release in 2009.

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