Algorithm
By Cryptomcmillan1 | Updated on May 24, 2020
Algorithm is a set of rules to follow to solve a problem or conduct a task. In computer or programming, an algorithm is needed for a computer to do its task accordingly. It is not a computer code and it needs to be converted to the language where the computer can understand.
Related Terms
Trustless
Entirely verifiable, without needing to trust or assume an action is done completely and in good faith.
Algorithmic Stablecoin
Algorithmic stablecoins are tokens pegged to a fiat currency which is usually the US dollar, purely through software and specific conditions.
Block Explorer
Application or websites which display information such as status of transactions or data contained in a block of a given public blockchain network.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
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