Definition of Encryption

Encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext. It is the practise of secured communication.

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Related Terms

REKT

A shorthand slang for “wrecked”, typically describes bad trades that results in losses.

Impermanent Loss

Temporary loss of funds due to volatility leading to divergence in price between token pairs provided by liquidity providers.

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.

Solidity

Object oriented programming languaged used in various smart contract blockchains.

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