Token
By CoinGecko | Updated on Mar 03, 2020
Tokens and coins are often erroneously regarded as interchangable terms. However, while both tokens and coins share technical similarity, tokens are ussually built atop a smart contract platform and is issued en-masse during its inception. Tokens grants its holders the right to take part in the issuing parties' network or product.
Related Terms
Mining Contract
Another term for cloud mining, where users can rent or invest in mining capacity online.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names.
SHA-256
Abbreviation of "Secure Hashing Algoritm - 256", SHA-256 is part of the SHA2 that allows one-way hashing of any data into a 64 character string.
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