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- SocialFi- Newest Social media platform ⭐️
SocialFi- Newest Social media platform ⭐️
Plus : News CEO of Binance
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SocialFi- Newest Social media platform ⭐️
Plus : Binance new CEO
Welcome 🙏to Joint #34! We are sure to give you some insights about this week's weekly updates too🥳 keep reading!
This week was really happening and yes aapko ni idea…but worry not! Web3 Stash Hai na😇. I hope you know reading this will bring you closer to your Crush👀
Let's start by having a look at BTC and ETH 👀
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As on 27 November, 8:23 AM
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Abhi let's dive into some good web3 news and trust me it's fun keep reading😭😭🤌🏻 Today we have rolled 🙌the following topics for you all -
Introducing SocialFi 🎉
Binance New CEO🤔
Understanding Cryptography ⭐️
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🎉Introducing SocialFi🎉
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As the web3 industry continues to expand its influence into the social media sector🫂, it is good to know about SocialFi💡, a concept that combines decentralized finance with social media
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The integration of renowned and well-performing social media platforms, like Facebook 🙌and TikTok,🎶 with the fascinating world of decentralized finance (DeFi), has initiated a concept dubbed Social Finance (SocialFi)🚀
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The idea behind SocialFi is built on the concept of merging social interactions with financial engagements within the crypto sphere🌐💰
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It is basically the most recent mechanism employed by the crypto space to monetize online social interactions🙏
SocialFi embodies a Web3 approach 🔒to creating, managing, and owning social media platforms and associated content⭐️, with the inclusion of tools like crypto and non-fungible tokens (NFTs)🥳
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Structured as decentralized autonomous organizations (DAOs), SocialFi platforms offer robust resistance🤌 to centralized censorship decisions🤔
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Thanks to the advancements in blockchain technology, the infrastructure of SocialFi accommodates the necessary throughputs for seamless social media engagements🎯💯
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As the digital space continues to evolve, SocialFi 🎯emerges as a groundbreaking force, seamlessly blending the potential of decentralized finance🤝 with social networking
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🤔Binance New CEO🤔
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A native of Singapore, Mr Teng joined the world's largest crypto exchange just over two years ago😱 as the chief executive of Binance's Singapore business🤔
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That was the year when Binance came under a Justice Department investigation, ⚒️and as regulatory scrutiny of the company and Mr Zhao 🙏intensified Mr Teng was rapidly climbing the ranks in the background🚀
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He only stayed in his original position as the Singapore CEO for five months🙌 and then he was promoted to regional head of Europe, Asia and the Middle East and North Africa in April 2023💯💯🤌
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Mr Teng later moved on to become head of regional markets this May before he was appointed to the top job - just slightly more than two years after he was first employed by Binance🤝👥
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Satoshi seeing Binance fail
In March, US regulators sought to ban the company, alleging it had been operating in the country illegally.
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It was also accused of breaking numerous US financial laws, including rules intended to thwart money laundering🤔🔻
The Justice Department later ordered Binance to pay $4.3bn in penalties and forfeitures😭😭
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️Despite this, Mr Teng has reiterated that Binance is "here to stay", adding that company's foundation stands "stronger than ever”
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👉🏻Understanding Cryptography👈🏻
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Cryptography is the art and science of securing communication through the use of mathematical techniques. 🤔🔐
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It involves creating and analyzing protocols to prevent unauthorized access or information disclosure. Here's a brief breakdown:
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1. Encryption 📜🔒:
- Encrypting information transforms it into an unreadable format using an algorithm and a key.
- 🔄 Symmetric Encryption: Uses a single key for both encryption and decryption.
- 🔑 Asymmetric Encryption: Involves a pair of public and private keys, enhancing security.
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2. Hash Functions 🔄🔍:
- Hash functions convert input data into a fixed-size string of characters.
- 🌐 Cryptographic Hash Functions: Produce unique hashes, making it difficult to reverse-engineer the original data.
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3. Digital Signatures ✍️🔏:
- Digital signatures use asymmetric encryption to verify the authenticity and integrity of a message.
- 🛡️ Ensures that the sender is genuine and that the message has not been tampered with.
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4. Public Key Infrastructure (PKI) 🏛️🔑:
- PKI manages digital keys and certificates to secure communication.
- 🌐 Used in online transactions, secure email, and other applications requiring a secure channel.
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5. Cryptographic Protocols 🔐🔒:
- Protocols like SSL/TLS secure internet communication.
- 🚧 Provide a framework for secure data transmission and authentication.
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6. Steganography 🎨🕵️♂️:
- Conceals the existence of information within other data.
- 🖼️ Hides messages in images or audio files, adding an extra layer of security.
Cryptography plays a crucial role in safeguarding sensitive information in various digital contexts, from online banking to secure communication. It's the guardian of our digital secrets! 🛡️💻
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Now I want you guys to share this newsletter within your group and get us some more subscribers!🥺🥺
That's the only fee you guys need to pay for getting many more cool explanations on complicated topics🤌🏻 SUBSCRIBE NOW!
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This is what the JOINT #34 had to offer we went from Binance to Cryptography and we promise to deliver an even better experience next time🤗🤗 so stay subscribed!
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Also please do me a favor and share this newsletter with your web3 friends 🫂🫂(secret - this will make sure you make good money in web3 world in the coming future)❤️❤️😭😭😭
Thanks for spending your valuable 5 minutes with us, see you soon in JOINT #35!!🫂🫂
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