Proof of Work (PoW)
By CoinGecko | Updated on Mar 03, 2020
An algorithm that rewards the first person that solves a computational problem (i.e. mining) to achieve distributed consensus. Miners compete to solve difficult cryptographic puzzles in order to add the next block on the blockchain. It prevents spam and cyber attacks such as DDoS as it requires work (i.e. processing time) from the service requester.
Related Terms
Buy the F***in Dip (BTFD)
An encouraging rally by asset/cryptocurrency supporters to buy during a price decline
opML (Optimistic Machine Learning)
opML (Optimistic Machine Learning) employs an optimistic verification mechanism and is able to handle large-scale machine learning models with billions of parameters efficiently, using fraud proofs that verify the ML computation.
Central Bank Digital Currency (CBDC)
It is a digital fiat currency issued by the central banks, contrary to cryptocurrency that issued by non-legislative party.
Variable Buy/Sell Tax
On-chain buy sell tax rate that is not fixed, whereby it is possible for contract owners to change at will.
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