UTC Time
By CoinGecko | Updated on Mar 03, 2020
UTC-time is the time standard used to internationally denote time. In the context of the cryptocurrency industry, due to its decentralized nature, companies and consumers are located all over the world each using different time zones. Using a standardized timing makes it less possible for cause confusion.
Related Terms
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Proof-of-Authority (PoA)
A consensus algorithm that asigns block validation queue based on identity and reputation.
Sharding
A form of database partitioning which breaks up data into smaller segments.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
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