Glossary

What Is the Electrum Wallet? Electrum is a lightweight, open-source Bitcoin wallet that prioritizes speed, simplicity, and security. Launched in November 2011, it supports desktop platforms like macOS, Linux, and Windows, as well as Android mobile devices. Its design makes it suitable for both novice and experienced users, offering advanced features alongside an intuitive interface.…

What Are Emissions in Cryptocurrency? Emissions refer to the rate at which new cryptocurrency tokens or coins are introduced into circulation. This process is fundamental to a cryptocurrency’s economic model and is often governed by predetermined rules, such as those defined by a blockchain’s consensus mechanism or smart contract protocols. Example: Bitcoin’s Emission Rate Bitcoin…

What Is Encryption? Encryption is a process that transforms information into a code to conceal its true meaning. This process ensures that only authorized parties can access or understand the data. The science and methodology of both encrypting and decrypting information are known as cryptography. In computing, unencrypted data is referred to as plaintext, while…

What Is an Epoch? An epoch refers to a specific period used in various systems, including machine learning and blockchain, to organize and process data or events. While the term is used differently across contexts, it commonly represents a full cycle or iteration in a defined process. Epoch in Machine Learning In machine learning, an…

What Is ERC-20? ERC-20 is a technical standard used to create and manage tokens on the Ethereum blockchain. These tokens are programmable digital assets that can represent a variety of values and use cases. Like mainstream cryptocurrencies such as Bitcoin, ERC-20 tokens can be used for payments, traded for other cryptocurrencies or fiat money, and…

What Is ERC-721? ERC-721 is a token standard on the Ethereum blockchain used to create and manage non-fungible tokens (NFTs). Unlike fungible tokens (e.g., ERC-20 tokens), which are identical and interchangeable, ERC-721 tokens are unique, each with distinct characteristics that differentiate them from others. Fungible vs. Non-Fungible Assets ERC-721 tokens bring this concept of uniqueness…

What Is an Ethereum Improvement Proposal (EIP)? An Ethereum Improvement Proposal (EIP) is a formal document that outlines proposed changes, enhancements, or standards for the Ethereum blockchain. These proposals are submitted by members of the Ethereum community and address various aspects of the Ethereum ecosystem, including protocol updates, application programming interfaces (APIs), and token standards.…

What Is an Ethereum Virtual Machine (EVM)? The Ethereum Virtual Machine (EVM) is a decentralized computation engine that serves as the core infrastructure for executing smart contracts and maintaining the Ethereum blockchain’s functionality. It operates like a distributed computer, enabling millions of projects to run on a shared network while ensuring security, consistency, and consensus.…

What Is Fiat Currency? Fiat currency refers to money that is declared by a government to be legal tender. It derives its value from the trust and authority of the issuing government rather than being backed by physical commodities like gold or silver. Examples of fiat currencies include the US Dollar (USD), Euro (EUR), Indian…