META 1 Coin Reports

META 1 Coin Report: Defining Crypto Terminology

Every niche has its own unique jargon and terminology, and crypto is no different. The often-technical language that is used can confuse and even turn off newcomers, so it’s important to clarify some popularly used cryptocurrency- and META 1-related verbiage to improve clarity, especially when reading content on the META 1 Coin website and blog.

While there are countless possible terms that could be explained, the following are some of the most commonly used terms and definitions related to crypto and META 1 Coin that are important to understand:

Blockchain – the digital ledger where cryptocurrency transactions are recorded chronologically and publicly.

Cryptocurrency – digital currency that uses encryption, fixed units of currency, and which operates independently of a central bank.

Delegated Proof of Stake (DPoS) – a technologically democratic system of validating blockchain transactions where staked coins enable one to automatically elect delegates or witnesses for blockchain validations. The more coins one has staked, the more delegates one can elect.

ERC-20 Smart Contracts – ERC-20 is a technical standard used for Smart Contracts on the Ethereum cryptocurrency blockchain. ERC stands for Ethereum Request for Comment and 20 is the number that was originally assigned to this request.

Ethereum Blockchain – a decentralized platform that operates Smart Contracts. These Smart Contracts operate on a custom-built blockchain, which is an enormously influential and shared global infrastructure that can seamlessly move value and represent the ownership of property.

Ethereum Platform – an open-source, public, blockchain-based distributed computing platform and operating system featuring Smart Contracts.

Ethereum Virtual Machine (EVM) – the heart of the Ethereum platform, which can execute code of arbitrary algorithmic complexity. Every node of the network operates on the EVM and executes the same instructions. Developers can create applications that operate on the EVM using programming languages modeled on existing languages like JavaScript and Python.

Initial Coin Offering (ICO) – an unregulated process where funds are raised for a new cryptocurrency venture. An ICO is used by startups like META 1 Coin to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies.

Market Witness – serves the role of validating signatures and timestamps by including them in the blockchain. The witness is a component of smart coin technology. The witness service is embedded in the smart coin technology platform.

META 1 Coin Appreciation Contract – a contract that utilizes real-time market feeds to facilitate the appreciation value of META 1 Coin.

META 1 Coin Asset Value Smart Contract – a contract where real-time asset index fund(s) can affect assets’ appraised values over specific periods of time.

META 1 Coin Asset Verification Smart Contract – a contract embedded into META 1 Coin that verifies the authenticity of assets assigned to coins.

META 1 Coin Trust – the private trust that META 1 Coin originates from.

META Exchange – an Exchange that supports META 1 Coin and other major cryptocurrencies, government fiat currencies, gold and silver. Debit cards enable real-time conversion of crypto to US Dollars or Euros for purchases.

Proof of Stake (PoS) – this concept states that a person can validate block transactions according to how many coins he or she holds. The more crypto coins owned, the more validating power he or she has.

Proof of Work (PoW) – a protocol designed to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually involving processing time by a computer.

Smart Coin Technology – systems that implement the concept of a collateralized loan and offer it on the blockchain.

Smart Contracts – self-executing contracts with the terms of the agreement between buyer and seller directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart Contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.

Surety Bond – A legally binding contract that ensures obligations will be met between three parties: The principal (whoever needs the bond), oblige (the one requiring the bond) and the surety (the insurance company guaranteeing the principal can fulfill stated obligations).

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