Explain Like I'm Five (ELI5)

By CoinGecko | Updated on Mar 03, 2020

Stands for “Explain Like I’m 5”, typically used in cases where technical/difficult scenarios are broken down into simple, and easy to understand terms. In a way, the goal is literally explain a concept in a manner that is simple enough for a five-year-old to understand.

Related Terms

Secure Asset Fund for Users (SAFU)

A feature created by Binance which contains reserve funds that can be used to reimburse users in case of a catastrophic event (eg. exchange hack)

Proof-of-Burn (PoB)

A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.

Byzantine Generals’ Problem

A term used to describe the situation a single strategy which requires consensus from all members within a group who cannot be trusted or verified

Flappening

Flappening is a term used to describe Litecoin growing bigger and becoming more valuable than Bitcoin Cash (BCH). It is spawned from the term Flippening (used when another crypto overtakes Bitcoin).

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