Non-Fungible Tokens (NFT)
By CoinGecko | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
Related Terms
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Wash Trade
Meaningless back and forth trading between a single party with the aim of inflating trade volume.
Money Printer Go Brrr
A meme made to describe the US Fed printing excessive amount of money to support the traditional financial market to avert the stock market crash during the COVID-19 coronavirus pandemic.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
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