DAO

DAO stands for Decentralized Autonomous Organization. It is a blockchain-based system that enables people to coordinate and govern themselves mediated by a set of self-executing rules deployed on a public #blockchain, and whose governance is decentralized. The use of #smartcontracts is crucial for establishing the basic rules for their operations, which cannot be changed without voting by core community members.

ICO

An ICO, works by offering the public a #blockchain token and/or some other valued utility in exchange for their investment. It usually begins with the creation of a whitepaper explaining the technical details of a #cryptocurrency project.

IPO

The operation of an initial public offering (IPO) is simple. You’ve found a business, grown it to unicorn status, and now want to either sell it or expand it beyond its private confines.

Public Key

The private key is used to digitally sign it. The public key is then created from the private key through a complicated mathematical algorithm. The user’s public key is used to demonstrate that the digital signature was generated using his private key. The funds are transmitted to the recipient’s public address after the transaction has been verified as legitimate.

Private Key

The private key is used to digitally sign it. The public key is then created from the private key through a complicated mathematical algorithm. The user’s public key is used to demonstrate that the digital signature was generated using his private key. The funds are transmitted to the recipient’s public address after the transaction has been verified as legitimate.

Block Time

Block time is the length of time it takes to create a new block in a cryptocurrency #blockchain.
Each #cryptocurrency has its own #block time, Bitcoin Inc. takes roughly 10 minutes to complete, whereas Ethereum takes only 14 seconds.

Ethereum Gas

The idea of #gas was created in order to preserve a separate value layer that only reflects the amount of gas used to cover computational costs on the Ethereum network. Having a separate unit for this purpose provides for a clear difference between the #cryptocurrency’s true value (ETH) and the computational cost of running Ethereum’s virtual machine (EVM).

Immutability

Immutability is the ability of a #blockchain ledger to maintain a permanent, indelible, and unalterable record of transactions. Immutability has the potential to make #auditing more efficient, effective, and cost-effective, as well as increase the confidence and integrity of the data that businesses use and share daily.

Smart Contract

The term #smartcontract was first coined in the early 1990s by Nick Szabo, a digital currency and #cryptography pioneer.  When writing a smart contract, a few variables need to be defined to create the terms of the agreement, the smart contract will execute itself only if the terms of the deal are satisfied, eliminating the need for a middleman to mediate the deal.

Web 3.0

Nothing gets created, nothing gets destroyed, but everything gets constantly transformed. We are entering the era of #Web3, an evolved version of the web 2.0 that we are all familiar with. 🌐