A new study has revealed the most Googled cryptocurrency topics nationally and in every state.
Research conducted by Marketplace Fairness analyzed search volumes for over 250 of the most frequently asked crypto questions on Google, to establish which queries the country is looking to understand.
Simple searches for “What is cryptocurrency?” » were huge nationally, receiving an average monthly search volume of 39,466. Although generic questions about the definition of cryptocurrency were excluded from the general body of the study, a brief description of crypto is worth exploring. be noted:
Cryptocurrency is a form of digital or virtual currency which uses cryptography for security. It operates independently of any central authority, enabling secure and decentralized peer-to-peer transactions.
Aside from the basic definition of cryptocurrency, the following terms have been most requested in America.
1. What is an NFT?
NFTs have become the most asked topic in the country. Although not quite the same as cryptocurrencies, the existence of the two is closely related. “Non-fungible tokens” exist in the form crypto assets on the blockchain, which is the same underlying technology used for cryptocurrencies like Bitcoin and Ethereum. What differentiates NFTs from cryptocurrencies is their non-fungibility, meaning that each NFT is entirely unique and cannot be traded individually, unlike cryptocurrencies.
The search term “What is an NFT?” came in with the highest monthly search volume of any question at 39,459, which is 2,575% higher than the average volume of the nearly 300 questions analyzed. “What does NFT mean? » had an average monthly search volume of 13,516, which is 816% higher than average.
2. What is blockchain technology?
The second biggest topic of curiosity was blockchain technology. In short, blockchain is a distributed, immutable digital ledger that records transactions across a network of computers, ensuring transparency, security, and trust in data integrity.
“What is blockchain? ” was searched at an average rate of 26,283 nationwide, 1,681% higher than the average search volume for the questions analyzed and was (excluding “cryptocurrency” itself) the second most requested phrase nationally. “What is blockchain technology? » had an average monthly search volume of 5,285, while there were 1,419 for “How does blockchain work?” »
3. How does it work?
Perhaps surprisingly, the question of how cryptocurrency actually works comes in only third in terms of research interest. Crypto uses cryptographic techniques (communication using codes) via a blockchain, to secure and regulate the creation of new monetary units.
The question “How does cryptocurrency work?” » was searched at a rate of 4,683 times per month, 217% above the average search volume. The synonymous search term “How Cryptocurrency Works” had a search volume of 1,173.
4. How to mine cryptocurrencies?
The fourth least understood cryptographic term was mining, which is the process by which specialized computers are used to solve complex mathematical puzzles, verifying and recording transactions on a blockchain. In return, the newly minted cryptocurrency tokens are rewarded to minors.
“What is cryptocurrency mining? ” was one of the most searched questions in all states and had a national average monthly search volume of 6,725, 356% higher than the average search volume. “How to mine cryptocurrency” was searched monthly at a rate of 1,866.
5. What is decentralized finance?
DeFi, short for decentralized finance, received the fifth highest search interest. It refers to a set of blockchain-based financial applications and services that operate without traditional intermediaries such as banks. This allows users to lend, borrow and trade directly within a decentralized ecosystem.
“What is DeFi? » had an average monthly search volume of 2,850, which is 93% higher than the average monthly volume of questions analyzed.