Blockchain
By CoinGecko | Updated on Mar 03, 2020
A digital ledger where data is recorded in a chronological order. In Bitcoin's case, it is a decentralized, public ledger which contains transactional information. Users can verify that transactions have occured simply by looking at the data that is publicized on the Bitcoin network.
In a blockchain, the next piece of information that will be added is always linked to a previous, already confirmed information of the blockchain through the use of a hash which describes the past content. With the hash, every block of information in a blockchain becomes referenced with one another, and cannot be easily swapped out, thereby qualifying as an immutable ledger.
Related Terms
Option
It is a financial instruments that refers to a contract offers the buyer the right to buy or sell an underlying assets at a specified price and time.
IYKYK
Abbreviation for: if you know you know. The phrase implies that the user has dropped some sort of insider knowledge about a specific experience. Often, the post will have some callback to a particular experience that will instantly stand out to those who are “in the know,” or ironically sharing commonly known information.
InterPlanetary File System (IPFS)
The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data.
Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
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