Crypto Dictionary

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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Of Whales and Dolphins

You may have heard of their existence before, but the cryptocurrency world has its own share of whales, dolphins and…, some other fish. If they haven’t been yet detected on your sonar, then maybe it is about time to learn all about these cryptocurrency holders.  In the crypto scene, “whales” and “dolphins” are terms used to describe bitcoin …

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Private and Public Keys in Cryptocurrencies

Major cryptocurrencies are built on public-key cryptography, which is a cryptographic system that utilizes a pair of keys, one public key (publicly known and used for identification) and a private key (secret, used for authentication and encryption).   Private and public keys are cryptographic keys made up of lines of random alphanumeric characters which are created …

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What are forks?

What are forks?  With Ethereum’s Constantinople fork happening on block #7,280,000 around February 27, 2019, there have been multiple discussions of what it will bring to the blockchain and crypto space. This is also a good time to look into what cryptocurrency forks are.   Cryptocurrency forks are a common blockchain phenomenon. They are the result of a cryptocurrency …

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Why Stablecoins are not the Holy Grail of Cryptocurrencies 

The story goes that stability is key when it comes to adopting cryptocurrencies in daily transactions, and “stablecoins” arguably provide the user with a sense of confidence due to their low volatility. Stablecoins are cryptocurrencies backed by real currencies, with the most common being Gemini Dollar (GUSD), TrueUSD (TUSD), USD Tether (USDT), and Paxos Standard (PAX), among others. What are stablecoins?  Unlike Bitcoin or Ethereum …

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Understanding Smart Contracts 

One of the most innovative things about the blockchain is the decentralization aspect. Undoubtedly, a decentralized system, that is shared across the whole network fosters transparency and enhances security. But, how does the transparency and security of a transaction is ensured?  The magic is called a smart contract, and it is believed that this technology can replace middlemen. How? A smart contract helps users transact …

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