Faucet
By CoinGecko | Updated on Apr 09, 2020
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time. Certain sites that monetize faucets involve requiring users to watch advertisements, or complete certain actions before earning their rewards.Faucets are commonly used during the early days of Bitcoin where users are able to request for Bitcoin for free, or in many different altcoins as a marketing move to get users interested in the coin.
Related Terms
Crowdsale
This type of auction has a fixed price per token that is sold on a first-come-first-serve basis.
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
Bagholder
A person who is holding a large quantity of cryptocurrency which is declining in value or becoming worthless
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
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