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Mint A succinct definition of Mint MintLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYMINTCopy linkShare on TwitterShare on FacebookShare on LinkedinMintIn blockchain and cryptocurrency, ‘minting’ refers to the process of creating new coins or tokens. Minting is also used in creating non-fungible tokens (NFTs) or other types of tokens. When someone mints an NFT, they are essentially creating a new, unique digital asset on the blockchain.Although it is often associated wit…
Exchange A succinct definition of Exchange ExchangeLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYEXCHANGECopy linkShare on TwitterShare on FacebookShare on LinkedinExchangeCryptocurrency exchanges are online platforms or intermediaries used to trade digital assets. In comparison with traditional exchanges, which are centralised entities, cryptocurrency exchanges can either be a centralised exchange (CEX) or a decentralised exchange (DEX).After a user opens an account with a cr…
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Deflation A succinct definition of Deflation DeflationLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDEFLATIONCopy linkShare on TwitterShare on FacebookShare on LinkedinDeflationDeflation is a decline in prices of goods and services, usually accompanied by the contraction of monetary and credit supply. However, this is not always the case. For example, electronics get cheaper over time because of advancements in technology, productivity, and automation rather than as a result o…
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Orphan Block A succinct definition of Orphan Block Orphan BlockLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYORPHAN BLOCKCopy linkShare on TwitterShare on FacebookShare on LinkedinOrphan BlockIn blockchain technology, an orphan block (or stale block) refers to a block that was successfully mined and broadcast to the network but ultimately rejected because another block with the same block height had been added to the blockchain prior to the network confirming the orphan block.…
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Unspent Transaction Output (UTXO) A succinct definition of Unspent Transaction Output (UTXO) Unspent Transaction Output (UTXO)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYUNSPENT TRANSACTION OUTPUT (UTXO)Copy linkShare on TwitterShare on FacebookShare on LinkedinUnspent Transaction Output (UTXO)‘Unspent transaction output’ (UTXO) represents the remaining balance of digital currency following a cryptocurrency transaction. The term is commonly used in cryptocurrency, partic…
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Long A succinct definition of Long LongLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYLONGCopy linkShare on TwitterShare on FacebookShare on LinkedinLongIn the context of cryptocurrency trading, going ‘long’ means buying a cryptocurrency and holding on to it in the hopes its price will rise. If the prediction of the trader is correct, they can sell the cryptocurrency at a higher price and make a profit.The long strategy is based on the belief that the crypto market will gro…
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Hashing A succinct definition of Hashing HashingLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYHASHINGCopy linkShare on TwitterShare on FacebookShare on LinkedinHashingA hashing algorithm on a blockchain takes an infinite number of bits, puts them through calculations, then outputs a fixed number of bits. No matter the length of the input data, the output is always rectified at a fixed length.Hashing helps to prevent major issues in the cryptocurrency industry, including double…
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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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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Bank Run A succinct definition of Bank Run Bank RunLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBANK RUNCopy linkShare on TwitterShare on FacebookShare on LinkedinBank RunBank runs typically occur in panic situations, when customers believe that their bank — or, in cryptocurrency markets, a centralised exchange (CEX) — may become insolvent or go bankrupt. However, banks often do not have enough cash on hand to replace all of the withdrawn funds, as they typically only mai…
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