Testnet
By CoinGecko | Updated on Mar 03, 2020
Testnets are alternative blockchain network that mirros the consensus protocol on the main network (Mainnet). Testnets are useful for developers or people who want to experiment with transactions, smart contracts or various other operations in a test environment without fearing loss of cryptocurrency.
Related Terms
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
REKT
A shorthand slang for “wrecked”, typically describes bad trades that results in losses.
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Web3 Wallet
Web3 Wallet is the software that allows you to interact with web 3.0.
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