Non-Fungible Tokens (NFT)
By CoinGecko | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
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Related Terms
Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-Snarks)
An acronym for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, zk-SNARKs refers to a protocol where one can prove posession of a given piece of information (eg a string or hash) without revealing that information and also without any interaction between both the prover & verifier.
Token Generation Event (TGE)
An event in which new tokens (ussually on a smart contract platform) are created and distributed to the public.
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.
Halving
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network.
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