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Calldata A succinct definition of Calldata CalldataLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCALLDATACopy linkShare on TwitterShare on FacebookShare on LinkedinCalldataCalldata refers to a temporary data storage location in a smart contract platform where data is sent along with a transaction when calling a function in a smart contract. Calldata is a non-persistent and read-only part of the transaction data, and once it is sent with a transaction, it cannot be modified by …
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Hooks A succinct definition of Hooks HooksLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHOOKSCopy linkShare on TwitterShare on FacebookShare on LinkedinHooksIn the context of blockchain, ‘hooks’ typically refer to pieces of code that allow developers to customise the behaviour of a blockchain protocol. These hooks are often used on smart contract platforms or in blockchain frameworks that support programmable functionality.Hooks enable developers to inject their custom log…
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Decentralised Applications (Dapps) A succinct definition of Decentralised Applications (Dapps) Decentralised Applications (Dapps)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDECENTRALISED APPLICATIONS (DAPPS)Copy linkShare on TwitterShare on FacebookShare on LinkedinDecentralised Applications (Dapps)Visually, decentralised applications (dapps) are like normal apps; they offer similar functions and look the same. However, dapps are applications or programmes that operate on a …
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Unit of Account A succinct definition of Unit of Account Unit of AccountLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYUNIT OF ACCOUNTCopy linkShare on TwitterShare on FacebookShare on LinkedinUnit of AccountIn traditional financial (TradFi) systems, national currencies like the US dollar or euro serve as units of account. In the context of cryptocurrencies, a unit of account refers to the function of a digital currency to serve as a standardised measure of value for goods, ser…
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Parachain A succinct definition of Parachain ParachainLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPARACHAINCopy linkShare on TwitterShare on FacebookShare on LinkedinParachainUsed specifically for applications, parachains are individual blockchains that utilise Substrate technology, which has Web3 functionality and a framework for making blockchains.Parachains run parallel with one another on the Polkadot or Kusama networks, as Kusama functions as a testing ground for Polkad…
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ERC-1155 A succinct definition of ERC-1155 ERC-1155Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYERC-1155Copy linkShare on TwitterShare on FacebookShare on LinkedinERC-1155ERC, which stands for Ethereum Request for Comment, is a standard conveying the essential technical notes and requirements to a group of developers and users. The ERC-1155 token standard was created to solve the limitations of more common token standards like ERC-20 and ERC-721, aiming to build upon their be…
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Politically Exposed Person (PEP) A succinct definition of Politically Exposed Person (PEP) Politically Exposed Person (PEP)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPOLITICALLY EXPOSED PERSON (PEP)Copy linkShare on TwitterShare on FacebookShare on LinkedinPolitically Exposed Person (PEP)PEP typically stands for ‘Politically Exposed Person’, which refers to individuals who are or have been entrusted with prominent public functions, such as government officials, senior e…
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Token A succinct definition of Token TokenLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTOKENCopy linkShare on TwitterShare on FacebookShare on LinkedinTokenWhile cryptocurrency coins are native assets of a specific blockchain, cryptocurrency tokens are created by projects built on top of already existing blockchains. For example, Ether (ETH) is categorised as a coin because it represents the native asset on the Ethereum blockchain. However, Dai (DAI), Uniswap (UNI), and Aave …
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Hash A succinct definition of Hash HashLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHASHCopy linkShare on TwitterShare on FacebookShare on LinkedinHashIn the context of blockchain, a hash is the result of a cryptographic function that takes an input (or message) and produces a fixed-size string of characters, which is typically a hexadecimal number. The output, known as the hash value or hash digest, is unique to the specific input data. Even a small change in the input data …
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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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