DEX or Decentralized Exchange is a type of cryptocurrency exchange that operates in a decentralized manner and enables peer-to-peer crypto trading. Because DEX’s are a type of DeFi application, they typically lack any KYC process. While the operations of Decentralized…
DeFi or Decentralized Finance is smart contract-based finance. The financial products, service, and instruments are implemented in code and made up of independent parts that are brought together without the use of traditional intermediaries like banks. DeFi structures are financial…
A Digital Asset Customer is a Digital Asset Entity that uses the services of a bank or other formal financial institution. DAC was first used to describe a broad grouping of cryptocurrency-based customers in the U.S. Department of the Treasury’s…
A Digital Asset Entity is an umbrella term for a range of businesses built on cryptocurrency transactions. Digital Asset Entities include Virtual Asset Service Providers (VASPs) and cryptocurrency ATMs, which are financial institutions in their own right, in addition to…
What are ERC-20 tokens? ERC-20 tokens are tokens designed and used solely on the Ethereum platform and follow the ERC-20 token standard. Smart contracts are responsible for creating the tokens, handling transactions, and keeping track of the balances. There are…
How is ether (ETH) different from bitcoin (BTC)? When launching the sale of Ethereum’s native cryptocurrency, ether (ETH), co-founder Vitalik Buterin stated, “Ether is a product, NOT a security or investment offering. Ether is simply a token useful for paying…
What is Ethereum? Launched in July of 2015, Ethereum is one of the world’s leading programmable blockchains with two basic functions: a blockchain that can record transactions, and a virtual machine that can produce smart contracts. This programmability allows developers…
What is Ethereum 2.0? When asked about the future of Ethereum, co-founder Vitalik Buterin stated, “scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it…
What’s the difference between Ethereum (ETH) and Ethereum Classic (ETC)? In 2016, hackers exploited a flaw in the smart contract code of the DAO—a decentralized autonomous organization built on the Ethereum blockchain, resulting in the theft valued at the time…
