Archives: glossary

What is a seed phrase?

A series of words that can be used to recover a person’s crypto wallet. The Long Explanation Also known as a secret recovery phrase, this is a series of words, ...

What is authentication?

Authentication is a process for verifying a user’s access to particular content. It employs the use of usernames, passwords, fingerprints, and/or SMS/auth codes to prove the user exists and has ...

What is insider trader?

Insider trading occurs when a person takes advantage of the private, material information they possess about a company or stock to buy/sell the stock. The Long Explanation Insider trading is ...

What is interoperability?

The concept of interoperability in cryptocurrency refers to the ability of blockchains to be compatible with each other, in order to facilitate the seeing and sharing of information across multiple ...

What is off-chain?

Off-chain transactions are transactions that occur outside of a given blockchain network in order to bypass the flaws of the said network.  The Long Explanation A typical blockchain transaction is ...

What is phishing?

A type of cyber scam that involves fake advertisements via fraudulent websites asking for sensitive information like password or SIN number. What is Phishing in NFT? Phishing is one of ...

What is a smart contract?

A digital contract that contains the terms of agreement in the form of code. The Long Explanation Like any traditional contract, a smart contract lays out the terms of a ...

What is hash rate?

Hash rate is the unit of measurement for the total computational power – or speed of computation – used by a cryptocurrency network to process transactions on the blockchain. The ...

What is ERC-721?

ERC-721 is the token standard used for creating non-fungible tokens on the Ethereum network. The Long Explanation ERC-721 is a token standard for creating non-fungible Ethereum tokens. The ERC in ...

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