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
Merkle Tree
A Merkle tree is also known as a hash tree in cryptography. It is a tree where every lead node is labelled with cryptographic hash of a data block, and every non-leaf node is labelled with the hash of the labels of its child nodes. It is used to verify of data stored within it and transferable in and between computers.
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
EIP (Ethereum Improvement Proposal)
Refers to improvement proposals for Ethereum, used to introduce features or any updates on the Ethereum network.
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