Crypto Dictionary

Sharding

The crypto world has changed dramatically since its initial inception in these last 11 years. From humble beginnings of Bitcoin being the only cryptocurrency, to over 2,000 cryptocurrencies and growing and has now risen to over $300 Billion in market cap.   As cryptocurrencies began disrupting the finance world however, the blockchain technology that crypto is built on, encountered a challenge that it wasn’t anticipating, scalability issues. The technology is currently limited to …

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Crypto Myths

The compelling world of cryptocurrencies is full of potential, freedom and unfortunately myths. So, to help any newcomers navigate the field of which crypto myths are based on truth and which have been exaggerated, we welcome you to our “Crypto Myths” series.  “The founder of Bitcoin remains a mystery”  When bitcoin was launched in 2008, the …

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Cryptocurrency: The Future of Digital Money

Money used to be bank notes and coins. In today’s world, cash continues to be gradually replaced by digital money, providing consumers with more convenience and choice, and businesses with lower transactions costs and no chargebacks. What is Cryptocurrency?  The easiest way to define Cryptocurrency is that it’s a digital currency that uses encryption to …

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Frontier, Homestead, Metropolis, Serenity

Echoing the Wild West theme, these terms represent four different stages in the development of Ethereum.  The four stages of the Ethereum network are Frontier, Homestead, Metropolis and Serenity. Let’s see what each of them entails.  Step one: Frontier (July 2015)  Like the Wild West, the frontier is where everything begins; it is the Ethereum network in its “barest” form: “an interface to …

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Enterprise Ethereum Alliance

Through your many travels in the intriguing world of blockchain technology, you might have heard of the Enterprise Ethereum Alliance. Now whilst it may sound like something that has come out of a Star Wars film, we assure you it’s not. The Enterprise Ethereum Alliance, EEA for short, is steadily growing in numbers and becoming one of the most important blockchain groups in the world.   What is …

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Lambos, Cryptos and Mooning

Lambo  The Lambo phenomenon is nothing else but the event of having earned so much cryptos that you can afford a Lamborghini. Lamborghini stands for new money, and in this case, cryptocurrencies, a lot of them.  This is why, “Lambo” is connected to another crypto term, “mooning.”  Mooning  Mooning which refers to the moon and cryptocurrencies skyrocketing, means exactly …

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What is an API?

APIs are the latest most talked about term in tech, as everyone from Google to Facebook and Apple are using them to deliver their latest solutions to the public and to connect people to businesses through innovative platforms.  As internet traffic is increasingly distributed towards apps and devices, it is very interesting to see how APIs …

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Volatility

Volatility is a statistical measure that shows how much a price of an asset can change over a period of time. The higher the price the riskier the asset. For cryptocurrencies, volatility has been a characteristic quality since their inception. Compared to other asset classes, volatility in cryptocurrencies is a regular phenomenon, with prices moving …

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Cryptocurrency Bubble

A cryptocurrency bubble or a speculative bubble in cryptocurrencies is an economic phenomenon whereby a large increase in prices is eventually followed by a massive drop. With Bitcoin, there was a giant bubble in 2017 which burst afterwards.   In economics and finance, the term “bubble” is used to refer to an economic cycle of a rapid increase in price followed by a contraction. They are usually the result …

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What is a Byzantine Generals Problem?

The Byzantine Generals Problem (BGP) is a term used in computer science and describes a situation where a number of dispersed parties need to coordinate a strategy to avoid failure. At the same time, some of those involved are corrupt and cannot be trusted.  The Byzantine Generals Problem is ideal to discuss consensus on the blockchain as, in a distributed network, all nodes need to make …

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