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Composability A succinct definition of Composability ComposabilityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCOMPOSABILITYCopy linkShare on TwitterShare on FacebookShare on LinkedinComposabilityIn decentralised finance (DeFi), ‘composability’ refers to the ability of different protocols and applications to interact and integrate with each other. It enables the building of complex and innovative solutions by leveraging the functionalities of multiple protocols and allows…
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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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Block Producer A succinct definition of Block Producer Block ProducerLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBLOCK PRODUCERCopy linkShare on TwitterShare on FacebookShare on LinkedinBlock ProducerA block producer is an entity responsible for generating and validating new blocks in a blockchain network. Block producers are critical to a blockchain’s functioning, as they collect transaction data and store it in blocks, validating their legitimacy on the blockchain.In Pro…
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Governance Token A succinct definition of Governance Token Governance TokenLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYGOVERNANCE TOKENCopy linkShare on TwitterShare on FacebookShare on LinkedinGovernance TokenGovernance tokens are the main utility tokens in decentralised finance (DeFi) protocols. This type of cryptocurrency grants holders voting rights that can influence decisions concerning the project. In doing so, it decentralises the traditional structure, such as havin…
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Liquidity Pool A succinct definition of Liquidity Pool Liquidity PoolLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYLIQUIDITY POOLCopy linkShare on TwitterShare on FacebookShare on LinkedinLiquidity PoolA liquidity pool is essentially a reserve consisting of cryptocurrencies that are locked in a smart contract together. They are primarily used to facilitate decentralised finance (DeFi)-related activities, such as lending, trading, and swapping, on a decentralised exchange (DEX)…
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Decryption A succinct definition of Decryption DecryptionLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDECRYPTIONCopy linkShare on TwitterShare on FacebookShare on LinkedinDecryptionDecryption refers to the process of converting encrypted data (known as ciphertext) back into its original, readable format (known as plaintext) using a decryption algorithm. Encryption and decryption are crucial for securing data and transactions in blockchain technology, and a private key is requ…
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ERC-948 A succinct definition of ERC-948 ERC-948Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYERC-948Copy linkShare on TwitterShare on FacebookShare on LinkedinERC-948ERC stands for ‘Ethereum Request for Comment’ and provides application-level standards for the Ethereum blockchain. The ERC-948 token standard is an interface that enables subscribers to make a recurring payment to a merchant. A unique feature includes the ability of the contract to then make payments on beha…
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Proof of Work vs Proof of Stake Ever wonder what the difference between a PoS and PoW network is? Learn about the two most popular consensus mechanisms and how they work. Proof of Work vs Proof of StakeLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYBlockchain8 Nov 2023|BEGINNERS|5 MIN READProof of Work vs Proof of StakeEver wonder what the difference between a PoS and PoW network is? Learn about the two most popular consensus mechanisms and how they work. Key Takeaways: Proof…
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Solana Program Library A succinct definition of Solana Program Library Solana Program LibraryLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSOLANA PROGRAM LIBRARYCopy linkShare on TwitterShare on FacebookShare on LinkedinSolana Program LibraryThe Solana Program Library (SPL) is a collection of on-chain programmes (smart contracts) built specifically for the Solana blockchain. SPL provides standardised modules that simplify the creation and management of tokens, decentralised fi…
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BEP-20 A succinct definition of BEP-20 BEP-20Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBEP-20Copy linkShare on TwitterShare on FacebookShare on LinkedinBEP-20BEP-20 is a token standard for the BNB Smart Chain. Similar to how ERC-20 acts as a fungible token standard for Ethereum, the same applies for BEP-20 on the BNB Smart Chain.BEP-20 originally comes from the ERC-20 standard and is fully compatible with it. Using similar code functions with slight modifications across th…
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