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Customer Due Diligence (CDD) A succinct definition of Customer Due Diligence (CDD) Customer Due Diligence (CDD)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCUSTOMER DUE DILIGENCE (CDD)Copy linkShare on TwitterShare on FacebookShare on LinkedinCustomer Due Diligence (CDD)Customer Due Diligence (CDD) is the process of assessing and verifying the identity of customers as part of regulatory compliance and risk management in the cryptocurrency industry. This process is essential f…
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Open-Source Blockchain A succinct definition of Open-Source Blockchain Open-Source BlockchainLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYOPEN-SOURCE BLOCKCHAINCopy linkShare on TwitterShare on FacebookShare on LinkedinOpen-Source BlockchainAn open-source blockchain refers to a blockchain network or protocol whose source code is made publicly available, allowing anyone to freely view, modify, and distribute the code. Open-source blockchain projects offer several key benefits…
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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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Double Top A succinct definition of Double Top Double TopLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYDOUBLE TOPCopy linkShare on TwitterShare on FacebookShare on LinkedinDouble TopA technical indicator, a double top is a bearish reversal pattern that appears on a price chart, signalling that the asset’s price is likely headed to a downward trend in the medium- to long-term period after reaching a certain high twice. In short, a double top is a reversal pattern after an ext…
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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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Blockchain Interoperability A succinct definition of Blockchain Interoperability Blockchain InteroperabilityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYBLOCKCHAIN INTEROPERABILITYCopy linkShare on TwitterShare on FacebookShare on LinkedinBlockchain InteroperabilityBlockchain interoperability allows different blockchains to seamlessly exchange data, assets, and functionality. Its main purpose is to overcome blockchain isolation by enabling different blockchains, each with the…
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Layer-0 A succinct definition of Layer-0 Layer-0Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYLAYER-0Copy linkShare on TwitterShare on FacebookShare on LinkedinLayer-0For blockchain, Layer-0 is a root layer that allows for cross-chain interoperability between Layer-1 protocols. In other words, it is a connector of blockchains.When it comes to blockchains, one of the major issues they face is scalability. The benefit of Layer-0 is that it has several use cases in scalability an…
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Custodial Wallet A succinct definition of Custodial Wallet Custodial WalletLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYCUSTODIAL WALLETCopy linkShare on TwitterShare on FacebookShare on LinkedinCustodial WalletCustodial wallets are typically used by centralised exchanges (CEXs), which control the wallet for the user. They are easier to use for individuals who do not want to keep track of multiple keys and seed phrases. CEXs typically provide a user-friendly experience, as th…
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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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Governance A succinct definition of Governance GovernanceLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYGOVERNANCECopy linkShare on TwitterShare on FacebookShare on LinkedinGovernanceGovernance is a major part of all cryptocurrency projects. Since a core tenet of crypto is decentralisation, governance plays a huge role for blockchains. It allows for a voting system, like in a decentralised autonomous organisation (DAO), so projects remain decentralised.While governance can refe…
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