ERC-721
By CoinGecko | Updated on Mar 03, 2020
ERC-721 was introduced in 2017 to create a token standard for non-fungible, exchangeable Etherem tokens. Compared to the well known ERC-20 which is fungible, ERC-721 are non-fungible tokens meaning that each and every ERC-721 is unique, and are not equal to one another.
Related Terms
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
Yield Farming
Yield farming involves putting cryptocurrency into a DeFi protocol to collect interest on trading fees.
Buy Wall
Anomalously large buy order(s) at a single price point that reflects as a "wall" in the order book.
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