KYC (Know Your Customer)
By CoinGecko | Updated on Nov 15, 2021
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them. It is also a policy the businesses required to implement as part of compliance, usually with Anti-Money Laundering and financial crime.
Related Terms
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
Interoperability
Interoperability refers to the property of product/systems that are able to work with products/systems that are different without any restrictions.
Second-Layer Solutions
Secondary network or framework built atop an existing blockchain to address transaction speed and scalability issues.
Proof-of-Burn (PoB)
A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.
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