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
Bakkt
Bakkt is a company developed by the Intercontinental Exchange (ICE), owner of the New York Stock Exchange. It specializes in Futures/Options contracts for cryptocurrencies.
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
ERC-721
ERC-721 is one of the most widely used token standards in Ethereum to create non-fungible, exchangeable tokens.
Byzantine Fault
A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction.
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