12.6 C
New York
Monday, October 18, 2021

Buy now

Still don’t understand Ethereum? This little 3-year-old explains it to you with Peppa Pig




By Hannah perez

Lily, the youngest cryptocurrency educator in the ecosystem, spoke about NFT, smart contracts, Ethereum 2.0, and more on the latest episode of her Lily’s Show.

***

Although you may not yet know how to spell the word “cryptocurrencies“, To their three year-old Lily Knight has already become a well-known digital currency educator.

For those who don’t know her yet, Lily is the show’s little crypto enthusiast ‘Lily’s Show’, dedicated to explaining about Bitcoin, digital currencies and Blockchain. The 3-year-old girl, who has already interviewed recognized figures of the ecosystem and has even participated in events on this matter, dedicated the last episode of her show to Ethereum.

She had already explained the basics of Bitcoin in a previous episode using candy, and this time he ventured to explain the bases of the second major Blockchain by market capitalization with the help of their toys.

Lily talks about Ethereum on her latest show

In the latest episode of her show, published this week on Twitter, the little girl goes through some of the main features of Ethereum. What is it? Who created it? and How does it work ?, are some of the questions he answers in his two-minute video.

Ethereum is a decentralized and open source Blockchain technology platformLily commented at the beginning of the video. Dressed in a suit and glasses, she addressed the topic of decentralized applications (dApps), the popular tokens non-fungibles (NFT) and smart contracts, and even talks about the future of the platform.

It was invented by super genius Vitalik Buterin. The most interesting thing about Ethereum is its composibility, this means that other people can build applications on the Ethereum blockchain, using something called smart contracts.

So how does all this work? I’m going to show you with Peppa Pig “said the girl showing her toys from the popular children’s cartoon. A dollhouse represents Ethereum and a small figurine of Peppa represents the native cryptocurrency of this blockchain, ETH. East tokenfeeds”The platform, he explained while holding the toys.

The Peppa Pig doll representing ether it is “the hostess of the house“. But other characters are also invited, he commented. The three-year-old took two other dolls that she identified as Peppa’s mother and father and placed them inside the house. Each of these represents the decentralized protocols that operate on Ethereum, MakerDAO and Uniswap, respectively, he indicated.

NFT and Ethereum 2.0 by a 3-year-old girl

Peppa’s mom who is MakerDAO can come to the house using a smart contractLily explained. He then proceeded to introduce more dolls to the playhouse to exemplify that many dApps can be built on Ethereum. The “Mr. Rabbit“, Which represents the platform Chainlink, too. And, later, he incorporated another doll that he identified as the NFTs.

These are the NFTLily said, showing one of her toy figurines,they are the life of the party. It’s a Blockchain party. With this metaphor, the little girl referred to the growing rise of NFTs. These rare collectible assets have grown in popularity this year, even among the very young, making them a very lucrative market.

The girl continued the transmission, delving into the subject of the future of Ethereum and the transition to ETH 2.0, which will mean that this network will abandon its current proof-of-work (PoW) consensus mechanism for one of proof-of-stake (PoS). In her video, the little crypto enthusiast also delved into the plans of Ethereum to divide your infrastructure into smaller pieces, a process known as sharding or fragmentation.

Ethereum is transitioning to a new system, called Ethereum 2.0. It’s changing from proof of work to proof of stake. They are also going to divide the Blockchain into multiple chains that are going to run in parallel: this is called ‘sharding’.

The goal of this long-term transition to Ethereum is that it can be more scalable, managing to admit a greater number of users. Lily laughed at the term sharding, a word that he pronounced with difficulty, and then he concluded the video with a farewell to his followers: “Thanks for watching the Lily Show, see you next time “.

The youngest educator in crypto space

Born during the 2017 uptrend, Lily started the online program with her parents as part of a quarantine project in August 2020. They have previously highlighted helping the little girl with her videos and managing her social media accounts.

An earlier video, in which Lily explained the limited supply of Bitcoin using candy Skittles, went viral on crypto Twitter earlier this year. At the time, some even admitted that she understood crypto better than many adults. The co-founder of exchange Gemini, Tyler Winklevoss, praised the little girl’s explanation: You understand Bitcoin better than most bankers, said.

The three-year-old girl also participated in the conference BlockchainWomen of the Future ‘ in March, where she stood out as the youngest crypto expert and speaker at the event. “I’ve been a HODLer my whole life. “Lily commented at the time, guided by her parents. “It’s great to see women and girls in the crypto space. It is important for us to have empowered financial futures“.

Although Lily is arguably the youngest voice in the crypto ecosystem today, she is not the only one. Other children are also rushing into this space; among them, Elon Musk’s youngest son, Lil X, who at less than a year old became a cryptocurrency investor in February 2021 Dogecoin (DOGE).


Recommended reading


Article by Hannah Estefanía Pérez / DailyBitcoin

Image from Unsplash







TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
2,988FollowersFollow
0SubscribersSubscribe

Latest Articles