Crypto Basics
What is TXID meaning (Transaction ID)?
TXID meaning is “transaction ID”, which is the unique string of characters given to every transaction that is verified and added to the blockchain. Thus, every TXID is unique, and is essentially an identification number that labels each transaction in the blockchain.Christopher Smith
What is Turing Complete meaning?
Turing Complete meaning refers to a machine that, given enough time and memory along with the necessary instructions, can solve any computational problem, no matter how complex. The term is normally used to describe modern programming languages as most of them are Turing Complete (C++, Python, JavaScript, etc.).Craig Green
What is Trustless meaning?
Trustless meaning is that the participants in that system do not need to know or trust each other for the system to function. In such a system, there is no single entity that has authority over the system, and consensus is achieved without participants having to know or trust anything about the system.Barry Stidham
What is tokens meaning in blockchain?
Tokens meaning is non-mineable digital units of value that exist as registry entries in blockchains. They come in many different forms – they can be used as currencies for specific ecosystems or encode unique data. Furthermore, some serve purposes as stores of values redeemable for other off-chain assets.Sherry Cantwell
What is DeFi meaning (Decentralized Finance)
DeFi meaning stands for “decentralized finance” and refers to the ecosystem of financial applications that are being developed based on blockchain systems.Cornell Rachel
What is the Oasis Protocol and what does it do?
The Oasis Protocol is a decentralized blockchain network built by Oasis Labs. Its main aim is to enable secure and private data-sharing and control. It is a scalable layer-1 blockchain network.Hallie Gill
What is ICO crypto meaning and how does it work?
ICO crypto meaning is Initial Coin Offering. It is an innovative approach for raising funds through the use of digital currencies (cryptocurrencies). Such a strategy is more common in cryptocurrency projects that are yet to fully develop their blockchain-based product, service, or platform. The funds collected on ICO events are normally received as Bitcoin (BTC) or Ether (ETH), but in some cases, fiat currency may also be taken as payment.Jerry McNeill
What is hard fork meaning in blockchain?
Hard fork meaning is a backward-incompatible software update. Typically, these occur when nodes add new rules in a way that conflicts with the rules of old nodes. New nodes can only communicate with others that operate the new version. As a result, the blockchain splits, creating two separate networks: one with the old rules, and one with the new rules. In this article we will be talking about forks, as well as the difference between hard forks and soft forks.Martha Grizzard
What is GWEI meaning?
GWEI meaning refers to a small denomination of ether (ETH), which is the native currency of the Ethereum blockchain.Cornell Rachel
What is Flippening meaning
Flippening meaning is the possibility of market capitalization of Ethereum (ETH) overtaking the market capitalization of Bitcoin (BTC). Hence, the term refers to the hypothetical situation in the future when Ethereum overtakes Bitcoin to be the largest cryptocurrency in terms of market capitalization.Barry Stidham
What is farming crypto meaning and how does it work?
Farming crypto meaning is also known as yield farming (or liquidity mining) and it is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards.Jerry McNeill
What is ERC20 meaning and its uses?
ERC20 meaning is a technical standard that was used to issue and implement tokens on the Ethereum blockchain. The standard describes a common set of rules that should be followed for a token to function properly within the Ethereum ecosystem. Therefore, ERC-20 may be described as a technical guideline or specification, instead of a piece of code or software.Barry Stidham
What is DPOS meaning and how does it work?
DPoS meaning is Delegated Proof of Stake, which is a consensus algorithm considered by many as a more efficient and democratic version of the PoS mechanism.Sherry Cantwell
What is diluted market cap meaning in crypto?
Diluted market cap meaning is the measure of market caps when all the coins are issued. Market cap (market capitalisation) is typically used as an indicator of the dominance and popularity of cryptocurrencies. To calculate the exact value of market cap, we multiply the current price by the circulating supply.Jerry McNeill
What is DEX crypto meaning: Decentralized Exchanges explained
DEX crypto meaning stands for Decentralized Exchanges. These are trading venues where no intermediaries are required.Wayne Ingram
What is cryptocurrency mining meaning: cryptocurrency mining explained
Cryptocurrency mining meaning is the process in which cryptocurrency transactions between users are validated and added to the blockchain public ledger. The mining operations also introduce new coins into the existing circulating supply.Craig Green
What is crypto gas fees meaning?
Crypto gas fees meaning refers to the pricing mechanism used on the Ethereum network. Such a mechanism calculates the costs (fees) for performing a transaction or executing a smart contract operation. As such, gas is a special unit that is used to measure how much work certain tasks require.Barry Stidham
What is crypto bull run meaning?
Crypto bull run meaning is also known as a bull market in crypto, and it refers to a positive trend in the prices of a market. It is broadly used not only in the cryptocurrency space but also in the traditional markets. In short, a bull market is related to a strong market uptrend that presents meaningful rising prices over a relatively short period of time.James Dean
What is crop dusted meaning: A look into dusting attacks
Crop dusted meaning (also known as a dusting attack) is a relatively new kind of malicious activity where hackers and scammers try to break the privacy of cryptocurrency users by sending tiny amounts of coins to their wallets. The transactional activity of these wallets is then tracked down by the attackers, who perform a combined analysis of different addresses to deanonymize the person or company behind each wallet.Sherry Cantwell
What is Confluence meaning in trading?
The native meaning of the term confluence is used to describe a geographic point where two or more rivers come together to form a single body of water. In the financial sense, confluence meaning in trading is the integrating of multiple investment strategies or trading signals together.Jerry McNeill
