Algorithmic Stablecoin
By CoinGecko | Updated on Aug 13, 2021
Algorithmic stablecoins are tokens pegged to a fiat currency which is usually the US dollar, purely through software and specific conditions. For example, as the price rises, the algorithm may issue more coins, and when the price falls, it purchases them off the market.
Related Terms
Non-custodial
It is a decentralized type-of-wallet, where the users owns its private keys.
Daily Active Addresses (DAA)
On a blockchain, users interact with one another through their addresses, and daily active addresses (DAA) refers to the number of addresses which fulfills the defined activity parameter on a given blockchain.
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.
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
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