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RPC A succinct definition of RPC RPCLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYRPCCopy linkShare on TwitterShare on FacebookShare on LinkedinRPCRemote Procedure Call, also known simply as RPC, plays a crucial role in the functioning of many cryptocurrencies, including Ethereum. It refers to a communication protocol that allows a programme (like a wallet or node) to efficiently request services from another programme or server over a network, typically the internet.In a cryp…
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Fiat A succinct definition of Fiat FiatLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYFIATCopy linkShare on TwitterShare on FacebookShare on LinkedinFiatFiat money is a currency that has been established as a legal tender, often by government policies. Unlike commodities like gold, fiat money does not have intrinsic value. In other words, the paper money is essentially worthless. Rather, its value is derived from the supply and demand, as well as the trust in the issuing govern…
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ERC-777 A succinct definition of ERC-777 ERC-777Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYERC-777Copy linkShare on TwitterShare on FacebookShare on LinkedinERC-777ERC, which stands for Ethereum Request for Comment, is a standard conveying the essential technical notes and requirements to a group of developers and users. ERC-777 is focused on providing additional functionality when dealing with tokens. While the ERC-20 token standard is still used frequently, ERC-777 aims t…
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Sound Wallet A succinct definition of Sound Wallet Sound WalletLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSOUND WALLETCopy linkShare on TwitterShare on FacebookShare on LinkedinSound WalletA sound wallet in cryptocurrency is a novel way of storing private keys using sound or audio. The concept involves encoding a private key as a sound file to provide an additional layer of security, which can then be stored in various formats like a CD, vinyl record, MP3 file, or even an a…
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51% Attack A succinct definition of 51% Attack 51% AttackLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARY51% ATTACKCopy linkShare on TwitterShare on FacebookShare on Linkedin51% AttackA 51% attack on a blockchain happens when a user or group with malicious intent acquires control over the blockchain’s mining power or hashrate. In doing so, they can create invalid transactions or deny legitimate ones on the blockchain’s ledger. The impacts of this can be mild or severe, depen…
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Smart Contract A succinct definition of Smart Contract Smart ContractLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSMART CONTRACTCopy linkShare on TwitterShare on FacebookShare on LinkedinSmart ContractInitially proposed by the American computer scientist Nick Szabo, smart contracts are typically employed to automate the terms of an agreement. In other words, the difference between a traditional contract and a smart contract is that a traditional contract is enforced by centra…
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Volatility A succinct definition of Volatility VolatilityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYVOLATILITYCopy linkShare on TwitterShare on FacebookShare on LinkedinVolatilityIn cryptocurrency, volatility refers to the degree of variation in the price of a particular digital asset over time. Cryptocurrency markets are notoriously volatile compared to traditional financial (TradFi) markets like stocks or bonds. Several factors contribute to this volatility.Cryptocurrency…
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Wallet A succinct definition of Wallet WalletLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYWALLETCopy linkShare on TwitterShare on FacebookShare on LinkedinWalletCryptocurrency wallets are a method to manage digital assets, as well as execute transactions through the blockchain. Depending on the provider, some wallets have additional features, such as allowing users to purchase and sell their assets or interact with decentralised applications (dapps) within a specific ecosyste…
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Decentralised Finance (DeFi) A succinct definition of Decentralised Finance (DeFi) Decentralised Finance (DeFi)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDECENTRALISED FINANCE (DEFI)Copy linkShare on TwitterShare on FacebookShare on LinkedinDecentralised Finance (DeFi)Decentralised finance (DeFi) is a financial system built on a blockchain that circumvents the intermediary role played by banks, brokerages, or exchanges in traditional finance (also called TradFi). Instead, u…
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Play-to-Earn (P2E) A succinct definition of Play-to-Earn (P2E) Play-to-Earn (P2E)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPLAY-TO-EARN (P2E)Copy linkShare on TwitterShare on FacebookShare on LinkedinPlay-to-Earn (P2E)The ‘play-to-earn’ (P2E) business model, known as GameFi, mainly refers to blockchain games that offer tokenised incentives to players while enabling frameworks for player-as-owner, rather than the standard player-as-consumer. These games incentivise play…
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