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Sidechain A succinct definition of Sidechain SidechainLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYSIDECHAINCopy linkShare on TwitterShare on FacebookShare on LinkedinSidechainSidechains, also known as secondary blockchains, are separate blockchain networks connected to the main blockchain (mainnet) via a two-way peg. This connection enables the transfer of tokens and digital assets from the mainnet to the sidechain (and vice versa) at a predetermined rate. In return, this e…
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Distributed Ledger A succinct definition of Distributed Ledger Distributed LedgerLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDISTRIBUTED LEDGERCopy linkShare on TwitterShare on FacebookShare on LinkedinDistributed LedgerIn cryptocurrency, a distributed ledger is a decentralised system that utilises blockchain technology to record and maintain a secure and transparent record of transactions in a network across multiple participants or nodes. Blockchain is an example of a dist…
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URI Schemes A succinct definition of URI Schemes URI SchemesLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYURI SCHEMESCopy linkShare on TwitterShare on FacebookShare on LinkedinURI SchemesIn cryptocurrency, Uniform Resource Identifier (URI) schemes are used to define a standard way of identifying and interacting with resources like cryptocurrency addresses, transactions, or payment requests. These schemes are similar to URI schemes used in web addresses but are specifically des…
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Public Chain A succinct definition of Public Chain Public ChainLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPUBLIC CHAINCopy linkShare on TwitterShare on FacebookShare on LinkedinPublic ChainOn a public blockchain, anyone is free to join, and there are no restrictions when it comes to participating. It is a decentralised system in which no single entity controls the network. Instead, all users within a public chain have equal rights. This includes access to read the ledger, a…
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Consensus Mechanism A succinct definition of Consensus Mechanism Consensus MechanismLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCONSENSUS MECHANISMCopy linkShare on TwitterShare on FacebookShare on LinkedinConsensus MechanismConsensus is the process by which a group of peers — or nodes — on a network determine which blockchain transactions are valid and which are not. Consensus mechanisms, on the other hand, represent the rules that govern the block verification process …
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Meme Coin A succinct definition of Meme Coin Meme CoinLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYMEME COINCopy linkShare on TwitterShare on FacebookShare on LinkedinMeme CoinMeme coins are a form of cryptocurrency inspired by memes, jokes, and interesting or funny ideas in an image or video medium. The first meme coin created was Dogecoin (DOGE).Similar to other forms of cryptocurrencies and digital assets, meme coins use blockchain technology as their foundation. However, …
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Vault A succinct definition of Vault VaultLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYVAULTCopy linkShare on TwitterShare on FacebookShare on LinkedinVaultIn the world of cryptocurrency, a vault typically refers to a secure storage solution for digital assets. Vaults are designed with multiple layers of security for storing cryptocurrencies like Bitcoin, Ethereum, and others to protect against theft and hacking. This may include encryption, multi-signature authentication, ph…
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ZK Rollup A succinct definition of ZK Rollup ZK RollupLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYZK ROLLUPCopy linkShare on TwitterShare on FacebookShare on LinkedinZK RollupA Zero-Knowledge (ZK) rollup is a Layer-2 scaling solution for blockchains, particularly designed to improve scalability and reduce transaction costs. Blockchains like Ethereum have limited transaction throughput due to their consensus mechanisms, and Layer-2 solutions aim to process transactions and st…
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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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Proof of Stake (PoS) A succinct definition of Proof of Stake (PoS) Proof of Stake (PoS)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF STAKE (POS)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Stake (PoS)In a Proof of Stake (PoS) system, validators are required to pledge a ‘stake’ of digital currency for the chance to be randomly chosen to validate transactions. They are selected based on the number of tokens they hold, a process not unlike a lo…
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