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…Hierarchical Deterministic (HD) Wallet A succinct definition of Hierarchical Deterministic (HD) Wallet Hierarchical Deterministic (HD) WalletLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHIERARCHICAL DETERMINISTIC (HD) WALLETCopy linkShare on TwitterShare on FacebookShare on LinkedinHierarchical Deterministic (HD) WalletA Hierarchical Deterministic (HD) wallet, defined under Bitcoin Improvement Proposal 32 (BIP-32), is a type of cryptocurrency wallet that generates a tree-like…
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…Crypto.com Glossary: Your Guide to Key Terms and Jargon in Blockchain and CryptocurrencyLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyCrypto GlossaryLearn all of the most important blockchain and cryptocurrency terms and jargon here.Trending TermsSolana 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 digit…
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…The EVM executes these smart contracts and ensures their deterministic behaviour across all nodes in the network.Key TakeawayIn cryptocurrency, a virtual machine is a software environment that mimics a physical computer and is designed to execute smart contracts or decentralised applications (dapps) on the blockchain network.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) o…
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…However, dapps are applications or programmes that operate on a blockchain or peer-to-peer (P2P) network: Rather than running on a single computer, dapps are maintained by a distributed network using smart contracts. Dapps are defined by the following characteristics:Decentralised — Dapps must not be in the control of one person or central authority.Open-source — Dapps must be able to function without a third party, and the code is public for anyone to copy or audit.Deterministic — A dapp…
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…By breaking down the consensus process into layers, Tower BFT improves scalability and allows for more efficient decision-making, which sets it apart from classic BFT.Key TakeawayTower Byzantine Fault Tolerance is a consensus algorithm with a hierarchical structure designed to ensure the security and reliability of distributed systems like blockchain networks.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building d…
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…A Merkle leaf ensures that, even if a small part of the data is modified, the cryptographic hash will change, alerting the system to tampering.Key TakeawayA Merkle leaf is the bottom-most node of a Merkle tree — a type of data structure that efficiently organises and verifies data using cryptographic hashes.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 blo…
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…Additionally, the order book helps traders understand the liquidity at different price points, which can be crucial for predicting potential price movements.Key TakeawayAn order book is a real-time, continuously updated list of buy and sell orders for a particular cryptocurrency that displays the prices and quantities of orders.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps…
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…Additionally, Web2 offers interoperability across different services, improved user interface and user experience from Web1, seamless communication, and proliferation of companies that provide services in exchange for personal data.Applications include social media like Instagram, YouTube, and Meta (Facebook); blogging; voting, tagging; social bookmarking; and podcasting.Key TakeawayWeb2 is the second version of the World Wide Web (WWW) — the current version of the internet — characterised b…
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…One notable exception is Ethereum 2.0, which has been exploring the integration of VDFs as part of its Casper PoS consensus mechanism.Key TakeawayA Verifiable Delay Function (VDF) is a mathematical puzzle that requires a certain amount of time and computational effort to solve; once solved, its correctness can be efficiently verified by anyone.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised app…
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…However, there are also ambitious developers creating new projects that aim to find the perfect balance and solve the trilemma. Key TakeawayThe blockchain trilemma refers to a common problem that all networks currently face, where they can only optimally provide two out of the following three benefits: decentralisation, scalability, and security.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised …
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