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
Margin Trading
It is a way of investing by borrowing money from a broker (or in crypto, an exchange or platform) to trade
Application Programming Interface (API)
It is a software that acts like an intermediary or a bridge that lets two applications talk to each other. It is the one that lets applications, data and devices interact.
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
ERC-1155
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.
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