Decolonizing the Blockchain Sika Sedzro

In this episode, we discuss the differences between the ROI on crypto vs stocks. Mawuli reveals the average return over the last 10 years in crypto Is 891% compared to 11% of stocks. Mawuli also explains how a lightning network works as bitcoin wasn’t designed to be able to do so many transactions, but a lightning network allows you to do many, and only pay one transaction fee!

In this episode, we discuss the difference between Proof of Work (POW) and Proof of Stake (POS). POS is when whoever is the richest makes the rules, whereas in crypto, it’s POW, meaning the minors make the rules, and it must stay fair or else everyone will move to minors who are willing to be fairer! We also touch on the environmental impact of POS vs. POW, with proof of work producing far more emissions, but still much less than the likes of gold.

On this episode of the Decolonising the Blockchain podcast, we explain DeFi. DeFi means Decentralized Finance. This means that crypto can offer juicy returns, as well as running 24/7 all around the world, unlike the stock market ad it also makes it censorship-resistant.

In this episode, we discuss the best ways to prevent hacking and losing your crypto. Mawuli suggests keeping it away from the internet as much as you possibly can. If you must keep it on a phone, Mawuli suggests using Apple products as they’re secure from viruses, but ideally, you would keep the seed codes on a cold drive, behind a biometric password, or split between people you trust. We also discuss cold storage and hard copy storage techniques.

In this episode, we discuss how to minimize trading and transaction fees. Muwali gives some expert tips and some popular strategies on how to get the most out of your investment and to dodge some of the bigger fees involved in crypto trading.

In this episode, we discuss the two ways to purchase crypto. The first is custodial, where the 3rd party looks after your crypto for you, such as coinbase.com and blockchain.com. This can be straightforward and trustworthy due to centralized transactions, but your privacy is compromised when hacked. The second way to purchase crypto is self-custodial, meaning you look after your own crypto, but it can be hard to prove your trustworthiness.