Second-Layer Solutions
By CoinGecko | Updated on Mar 03, 2020
A set of solutions built on top of a public blockchain to extend its scalability and efficiency, especially for micro-transactions or actions. Examples include: Plasma, TrueBit, Lightning Network, and more.
Related Terms
Delegated Proof-of-Stake (dPOS)
A consensus mechanism where selected members of a network are voted as delegates to validate transactions and produce blocks on a blockchain.
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
Bots
Refers to software or programmes that automatically trade based on preset behaviours.
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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