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CRYPTO CURRENCY DICTIONARY

TERMS COMMONLY USED IN THE WORLD OF BLOCKCHAIN AND CRYPTOCURRENCY

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Gossip Protocol

A gossip protocol (sometimes known as an "epidemic protocol") is a method for disseminating information across decentralized networks. It is similar to how gossip spreads in a human social network. For starters, a certain piece of knowledge is only known to a small group of people. The information is then disseminated to others, resulting in a chain reaction in which the entire group is aware. Nodes in a decentralized network send transaction data to a limited number of nearby nodes. This process is repeated until the complete network of "full nodes" has stored the same data. In general, the gossip protocol is more scalable and fault-tolerant than a single node broadcasting data to the whole system. However, because nodes must receive the same data several times, the procedure is time-consuming.

Other Important Terms

Distributed Network

On a distributed network, the decision-making process often involves individual nodes voting to change to a new state, and the system's overall behavior changes in accordance with the aggregate outcomes of the decisions every individual node votes on. The particular mechanisms used by a distributed network to vote and make decisions are determined by the network's consensus mechanism. All kinds of distributed decision-making include the separate components of the network engaging with one another to reach a shared goal. Distributed networks are particularly fault-tolerant and secure as a result of their geographical dispersion. Their benefits and drawbacks are similar to those of decentralized networks but on a larger scale.

Yearn-finance

yearn. finance is a group of protocols running on the Ethereum blockchain that allow users to optimize their earnings on crypto assets through lending and trading services. One of a number of emerging decentralized finance (DeFi) projects, yearn.

Ampleforth (AMPL)

While asset-backed and crypto-collateralized stablecoins are important components of the digital economy, algorithmically driven assets such as Ampleforth are developing with a more decentralised approach that is less influenced by conventional financial procedures. With a variable supply, Ampleforth's AMPL currency promotes price stability. This is accomplished by a rebasing mechanism, which changes the supply of AMPL on a daily basis, offering better price stability than fixed-supply cryptocurrencies.

Retail investor

A retail investor is a non professional investor who buys and sells securities or funds that comprise a variety of assets, such as cryptocurrencies, and stocks. They use traditional or online brokerage firms, as well as other kinds of investment accounts, to carry out their trades.

Gas (Ethereum)

Gas refers to the cost of completing tasks in the Ethereum blockchain. Gas represents an intangible unit of calculation in the network and is paid for by parts of Ethereum's native cryptocurrency, Ether, called gwei. Like car fuel, gas allows the Ethereum Virtual Machine to continue operating. Everything that is done in the Ethereum blockchain uses the power of integration, and gas revenue support miners out of the calculation. Users can set a "gas limit" on the functions, thus limiting the amount of gas used. Gas is reduced in the amount of Ether. However, its price is simulated by network activity. Gas costs help maintain network security by reducing the risk of service interruptions and endless loops on smart contracts (among other things).

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