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…It also provides an efficient way for developers to transfer tokens from Ethereum to other EVM-compatible blockchains.Key TakeawayEthereum Virtual Machine (EVM) is a platform for executing dapps and smart contracts on the Ethereum blockchain.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) on the Solana blockchain.HODLerA ‘HODLer’ is someone who holds onto their digital …
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…Using a combination of smart contracts and cryptographic verification, transactions from the Ethereum mainnet are offloaded to plasma chains, which periodically report back to the main Ethereum blockchain and use it to settle any disputes. It is noted, however, that the Ethereum community has generally moved on from Plasma in favour of rollups. Validium is a scaling solution that focuses on maintaining the integrity of transactions by using validity proofs, such as ZK rollups. Unlike other…
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Open-Source Blockchain A succinct definition of Open-Source Blockchain Open-Source BlockchainLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYOPEN-SOURCE BLOCKCHAINCopy linkShare on TwitterShare on FacebookShare on LinkedinOpen-Source BlockchainAn open-source blockchain refers to a blockchain network or protocol whose source code is made publicly available, allowing anyone to freely view, modify, and distribute the code. Open-source blockchain projects offer several key benefits…
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Blockchain Oracle A succinct definition of Blockchain Oracle Blockchain OracleLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBLOCKCHAIN ORACLECopy linkShare on TwitterShare on FacebookShare on LinkedinBlockchain OracleOracles are an essential part of every blockchain ecosystem, as they allow Web3 protocols to access legacy systems, existing data, and advanced computations. In addition, decentralised oracle networks (DONs) are essential because they allow for the creation of hyb…
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What Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and price of cryptocurrencies. What Are Blockchain Forks? Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBlockchain13 Jun 2023|INTERMEDIATE|4 MIN READWhat Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and pr…
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What Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and price of cryptocurrencies. What Are Blockchain Forks? Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBlockchain13 Jun 2023|INTERMEDIATE|4 MIN READWhat Are Blockchain Forks? This guide explains what blockchain forks are, the differences between hard and soft forks, and how they can change the functionality and pr…
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Blockchain Interoperability A succinct definition of Blockchain Interoperability Blockchain InteroperabilityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBLOCKCHAIN INTEROPERABILITYCopy linkShare on TwitterShare on FacebookShare on LinkedinBlockchain InteroperabilityBlockchain interoperability allows different blockchains to seamlessly exchange data, assets, and functionality. Its main purpose is to overcome blockchain isolation by enabling different blockchains, each with the…
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… Following an initial coin offering that raised US$18.3 million in BTC funds, the Ethereum blockchain was launched in 2015. Since then, this network has undergone updates, most notably a shift from a proof of work (PoW) algorithm, which relies on computational power for the processing of blocks in the blockchain, to a proof of stake (PoS) algorithm, to boost network scalability. How Ethereum works Ethereum has introduced the concept of a blockchain smart contract platform, which allows for cre…
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…Learn what it is and how cryptocurrencies can be minted with it. Key Takeaways: ERC-20 is a technical standard for building fungible tokens on the Ethereum blockchain, providing a framework for how they should be created, issued, and deployed. The purpose of token standards is to facilitate interoperability between smart contracts, ensuring newly minted tokens are compatible with third-party services like exchanges and wallets. The introduction of ERC-20 empowered developers to build on Ethe…
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…Learn what it is and how cryptocurrencies can be minted with it. Key Takeaways: ERC-20 is a technical standard for building fungible tokens on the Ethereum blockchain, providing a framework for how they should be created, issued, and deployed. The purpose of token standards is to facilitate interoperability between smart contracts, ensuring newly minted tokens are compatible with third-party services like exchanges and wallets. The introduction of ERC-20 empowered developers to build on Ethe…
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