Token
By CoinGecko | Updated on Mar 03, 2020
Tokens and coins are often erroneously regarded as interchangable terms. However, while both tokens and coins share technical similarity, tokens are ussually built atop a smart contract platform and is issued en-masse during its inception. Tokens grants its holders the right to take part in the issuing parties' network or product.
Related Terms
Protocol
The set of rules in a network in which participating members comply to allow proper communication.
Secure Asset Fund for Users (SAFU)
A feature created by Binance which contains reserve funds that can be used to reimburse users in case of a catastrophic event (eg. exchange hack)
Miners
Contributors to a blockchain taking part in the process of mining.
Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
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