Hot Wallet

By CoinGecko | Updated on Mar 03, 2020

It is a tool that store your cryptocurrencies and always connected to internet. The stored coins can be instantly exchanged with other members of the network or used to trade.

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Related Terms

Smart contracts

Self executing contracts on the blockchain without needing human executors or notary.

Off-chain

It refers to transactions occuring outside the blockchain and executed instantly.

Delegated Proof-of-Stake (dPOS)

A consensus mechanism where selected members of a network are voted as delegates to validate transactions and produce blocks on a blockchain.

Decentralized

A system where there are no centralized points of failure or organization with no central authority figure.

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