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Algorithm is a set of rules to follow to solve a problem or conduct a task. In computer or programming, an algorithm is needed for a computer to do its task accordingly. It is not a computer code and it needs to be converted to the language where the computer can understand.
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.