Cryptocurrency and Blockchain Dictionary
A complete list of crypto definitions
Cryptocurrency and blockchain glossary
Commonly used terms in the world of blockchain and cryptocurrency
Terms commonly used in the world of blockchain and cryptocurrency
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Decentralized Autonomous Organizations
DAO is an abbreviation of ‘Decentralised Autonomous Organization’. This is basically an organization that runs automatically on itself without any human interventions. The work is automatically executed through Smart contracts. As you may already know that smart contracts are to be executed automatically whenever a certain condition is met. The DAO is basically a transparent computer program that is not regulated by any central government.
However, when it comes to voting, the decision depends on the majority of network actors who are involved in the primary proposals. Unlike normal systems in the crypto industry, DAOs are capable of decentralizing geographically and on a structured basis, but the main concept behind the entire ecosystem remains centralized for sure. Hence, the key decisions are taken by the entire community instead of leading the whole system by a central leader.
DAO is an abbreviation of ‘Decentralised Autonomous Organization’. This is basically an organization that runs automatically on itself wit...Other Important Terms
51% Attack
A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners&r...2 Factor Authentication (2FA)
2 Factor Authentication is a double-layer security measure. Most crypto exchanges use it. In order t...Altcoin
There are tons of different cryptocurrencies available in the market. However, they are divided into...Block Reward
The block reward is the payment that is offered to the node that is securing the blockchain. In the...Block explorer
A block explorer is an online service to track blockchain transactions. It usually is a website wher...Cryptocurrency News