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Whale A succinct definition of Whale WhaleLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYWHALECopy linkShare on TwitterShare on FacebookShare on LinkedinWhaleA whale in the cryptocurrency industry refers to an entity — individual, institution, or exchange — that holds a significant amount of a particular cryptocurrency, the amount of which qualifies a user as a ‘whale’ is subjective. The bottom line is that whales own a significant portion of a cryptocurrency’s total …
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Timestamp A succinct definition of Timestamp TimestampLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTIMESTAMPCopy linkShare on TwitterShare on FacebookShare on LinkedinTimestampA timestamp is the exact moment when a particular block is mined and validated to the blockchain. It serves as a record of the time at which a transaction or event occurred, ensuring the chronological order of blocks.Timestamps ensure that transactions are added to the blockchain in the correct order, p…
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Proof of Work (PoW) A succinct definition of Proof of Work (PoW) Proof of Work (PoW)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF WORK (POW)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Work (PoW)The Proof of Work (PoW) consensus mechanism is a method of validating transactions, which requires miners to solve complex mathematical problems to add new blocks to the blockchain. Used by Bitcoin and many other public blockchains, PoW — the original …
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Proof of Authority (PoA) A succinct definition of Proof of Authority (PoA) Proof of Authority (PoA)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF AUTHORITY (POA)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Authority (PoA)Consensus mechanisms are used by blockchains in order to validate cryptocurrency transactions and secure the network. Proof of Authority (PoA) is one such mechanism. Note that both the Proof of Authority and Proof of Activity con…
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Proof of Burn (PoB) A succinct definition of Proof of Burn (PoB) Proof of Burn (PoB)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF BURN (POB)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Burn (PoB)Proof of Burn (PoB) is a consensus mechanism that uses less energy consumption than Proof of Work (PoW). The concept behind PoB requires miners to ‘burn’ a portion of their digital currencies for the chance to mine a new block.In PoB, miners send tok…
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Asynchronous Byzantine Fault Tolerance (ABFT) A succinct definition of Asynchronous Byzantine Fault Tolerance (ABFT) Asynchronous Byzantine Fault Tolerance (ABFT)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYASYNCHRONOUS BYZANTINE FAULT TOLERANCE (ABFT)Copy linkShare on TwitterShare on FacebookShare on LinkedinAsynchronous Byzantine Fault Tolerance (ABFT)When a network is Byzantine Fault Tolerant (BFT), it means it can withstand an attack from up to one-third of malicious node…
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Bull Trap A succinct definition of Bull Trap Bull TrapLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBULL TRAPCopy linkShare on TwitterShare on FacebookShare on LinkedinBull TrapBull traps are individuals or groups who manipulate a cryptocurrency‘s price in order to show specific market signals to trick unsuspecting buyers. Bull traps typically display a long-term downtrend pattern, which leads to a reversal and displays signs of a recovery in order to lure unsuspecting trade…
ERC-827 A succinct definition of ERC-827 ERC-827Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYERC-827Copy linkShare on TwitterShare on FacebookShare on LinkedinERC-827ERC stands for Ethereum Request for Comment, providing application-level standards for the Ethereum blockchain. ERC-827 builds upon the ERC-20 token standard, allowing for the execution of calls inside transfers and approvals. For example, with ERC-827, users can pass data and tokens to smart contracts in order t…
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Ciphertext A succinct definition of Ciphertext CiphertextLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCIPHERTEXTCopy linkShare on TwitterShare on FacebookShare on LinkedinCiphertextCiphertext consists of a string of randomised characters that are the encrypted version of a text. It contains the same information as a message in plaintext, but is unreadable by a human or computer without a decryption algorithm. Ciphertext is commonly applied to protect the original message from…
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BRC-20 A succinct definition of BRC-20 BRC-20Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBRC-20Copy linkShare on TwitterShare on FacebookShare on LinkedinBRC-20The BRC-20 token standard is a fungible token standard for the Bitcoin blockchain, enabling developers to create and transfer fungible tokens using the Ordinals protocol. However, unlike the Ethereum token standard (ERC-20), BRC-20 tokens do not make use of smart contracts, instead utilising Ordinals inscriptions of J…
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