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Transak Blog

What Are Layer 2 Blockchains And How Do They Work? L1 vs L2 Networks Explained

Sep 28, 2024 10:04:45 PM / by Transak Team

After Bitcoin revolutionized digital currency, Ethereum emerged as a "second generation blockchain," aiming to decentralize a broader spectrum of financial systems, not just peer-to-peer currency transfers.

What Are Blockchain Nodes, How They Work, And How To Set Up?

Sep 28, 2024 9:56:44 PM / by Transak Team

Blockchain nodes are foundational parts of a blockchain network that verify transactions, maintain consensus, and store the blockchain's history.

Web3 Apps: Incomplete Without An On-/Off-Ramp?

Sep 12, 2024 3:57:11 PM / by Transak Team

At its core, decentralized web3 applications are designed to facilitate smart contract interactions, enabling user-controlled wallets to engage with these contracts seamlessly. This forms the bedrock of decentralized finance (DeFi) and other web3 innovations.

What Are Wrapped Tokens? WBTC, WETH, And More Explained

Sep 12, 2024 3:49:54 PM / by Transak Team

What if you want to use ETH but on a different blockchain? This is a very common demand from cryptocurrency users because Ethereum tends to be very slow, but ETH, as a cryptocurrency, is very convenient and accessible.

What is Soneium? A Comprehensive Guide to Sony’s Ethereum-Based L2

Sep 1, 2024 12:36:57 PM / by Transak Team

The next iteration of the web, web3, is both a technological and cultural shift in how value is created, owned, and exchanged online.

What is GameFi? A Beginner’s Handbook To Next Gen Games With Transak

Aug 25, 2024 10:23:17 PM / by Transak Team

GameFi promises to revolutionize the way people play games by combining blockchain technology with traditional gaming models. Today, more than half of all blockchain activity is through GameFi.

What Is Tokenomics and Why Does It Matter?

Aug 25, 2024 10:18:07 PM / by Transak Team

Tokenomics is the study of the economy of tokens, including the creation, distribution, and use of tokens within a network. It is the backbone of any blockchain or cryptocurrency project and plays a crucial role in determining the success or failure of a project.

What Is A Seed Phrase And How Does It Secure Your Cryptocurrency?

Aug 25, 2024 10:10:33 PM / by Transak Team

When you set up a cryptocurrency wallet, you’re often presented with a list of 12, 18, or 24 random words, commonly referred to as a “seed phrase” or “mnemonic phrase”. The wallet interface strongly advises you to note down these words and keep them safe, as they are crucial for securing your funds.

What Is A Wallet Address? A Beginners Guide To Crypto Wallet Addresses

Aug 16, 2024 8:44:27 PM / by Transak Team

Decentralized finance has many similarities to traditional finance. Both share a similar value exchange medium, i.e., a “currency”, and both share a similar currency storage mechanism, i.e., a “wallet”.

Top 7 Seedless Wallets Of 2024 And Beyond

Aug 16, 2024 8:15:17 PM / by Transak Team

The adage "not your keys, not your coins" has long served as a guiding principle for self-custody and financial sovereignty. However, the traditional method of achieving this, through the use of seed phrases, has become increasingly fraught with risk.