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The ERC-20 is technical standard for every fungible token used to issue and implement tokens on the Ethereum Blockchain. Being a fungible token means that it has a property that makes each token’s value and type exactly the same as another token.
Zero Knowledge Proof (ZKP) is a cryptographic technique that proves the validity of a statement without revealing the statement and information except for the interchange of some value known to both the prover and verifiers themselves.
Flippening means that an underdog overtakes the favorite. It refers to the potential overtake of the Ethereum Blockchain to become the world’s biggest cryptocurrency by market capitalization over the previously favored Bitcoin Blockchain.
A DAO stands for Decentralized Autonomous Organization. It is a community-led entity that has no central governing body. It is an emerging form of the legal structure whose members share a common goal to act in the entity’s best interest.
A bear market is a market condition or state in which there are liabilities and loans, there aren’t enough resources to pay them back, different companies’ stocks are declining in value, and investors lose their money.
DeFi stands for Decentralized Finance. It is a peer-to-peer emerging financial technology on secure distributed ledgers similar to those used by cryptocurrencies.
Mempool is combined term derived out of the words memory and pool. It is sort of a waiting room to confirm pending transactions. It can also be defined as the mechanism of cryptocurrency nodes for storing information on unconfirmed or pending transactions.
Gwei was first used as a denomination of the cryptocurrency Ether (ETH), the digital coin of the famous blockchain Ethereum.
Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system like Layer 1, providing solutions to improve its performance.
Layer 1, also known as the ‘implementation layer’, refers to the core architecture of a blockchain network. Its first iteration was created by Satoshi Nakamoto in 2008 and named Bitcoin.
