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Decentralized Application
A decentralised application (DApp, dApp, Dapp, or dapp) is an Application software, application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. Like traditional applications, DApps provide some function or utility to its users. However, unlike traditional applications, DApps operate without human intervention and are not owned by any one entity, rather DApps distribute Cryptocurrency#Crypto token, tokens that represent ownership. These tokens are distributed according to a programmed algorithm to the users of the system, diluting ownership and control of the DApp. Without any one entity controlling the system, the application is therefore Decentralization, decentralised. Decentralised applications have been popularised by Distributed ledger, distributed ledger technologies (DLT), such as the Ethereum or Cardano (blockchain platform), Cardano blockchain, on which DApps ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Application Software
Application software is any computer program that is intended for end-user use not operating, administering or programming the computer. An application (app, application program, software application) is any program that can be categorized as application software. Common types of applications include word processor, media player and accounting software. The term ''application software'' refers to all applications collectively and can be used to differentiate from system and utility software. Applications may be bundled with the computer and its system software or published separately. Applications may be proprietary or open-source. The short term ''app'' (coined in 1981 or earlier) became popular with the 2008 introduction of the iOS App Store, to refer to applications for mobile devices such as smartphones and tablets. Later, with introduction of the Mac App Store (in 2010) and Windows Store (in 2011), the term was extended in popular use to include desktop a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proof Of Stake
Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work (POW) schemes. The first functioning use of PoS for cryptocurrency was Peercoin in 2012, although its scheme, on the surface, still resembled a POW. Description For a blockchain transaction to be recognized, it must be appended to the blockchain. In the proof of stake blockchain, the appending entities are named ''minters'' or (in the proof of work blockchains this task is carried out by the miners); in most protocols, the validators receive a reward for doing so. For the blockchain to remain secure, it must have a mechanism to prevent a malicious user or group from taking over a majority of validation. PoS accomplishes this by requiring that validators have some quantity of blockchain tokens, requiring potential attack ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prediction Market
Prediction markets, also known as betting markets, information markets, decision markets, idea futures or event derivatives, are open markets that enable the prediction of specific outcomes using financial incentives. They are exchange-traded markets established for trading bets in the outcome of various events. The market prices can indicate what the crowd thinks the probability of the event is. A typical prediction market contract is set up to trade between 0 and 100%. The most common form of a prediction market is a binary option market, which will expire at the price of 0 or 100%. Prediction markets can be thought of as belonging to the more general concept of crowdsourcing which is specially designed to aggregate information on particular topics of interest. The main purposes of prediction markets are eliciting aggregating beliefs over an unknown future outcome. Traders with different beliefs trade on contracts whose payoffs are related to the unknown future outcome and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Augur (software)
Augur is a decentralized prediction market platform built on the Ethereum blockchain. Augur is developed by Forecast Foundation, which was founded in 2014 by Jack Peterson, Joey Krug, and Jeremy Gardner. Forecast Foundation is advised by Ron Bernstein, founder of now-defunct company Intrade, and Ethereum founder Vitalik Buterin. Operation Augur allows any user to create a prediction market on any topic. There are two kinds of markets: *Categorical markets have up to seven options; for example, "Will Alice win X election?" with "yes" and "no" as options, or "Who will win X election?" with five candidates as options. These markets are winners take all, making them similar to binary options. *Scalar markets offer a spectrum of numerical outcomes; for example, "What will the closing price of Apple's stock be on January 1 2021?" Traders can "long" or "short" any value, i.e. bet that the result will be higher or lower than a certain value. If a trader longs at X value, the more ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CryptoKitties
''CryptoKitties'' is a blockchain game developed by Canadian studio Dapper Labs. The game allows players to buy, sell, and create non-fungible tokens (NFTs) using Ethereum. These NFTs represent virtual cats. The game's popularity in December 2017 congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly. Dapper Labs was spun-off from Axiom Zen. Both companies are based in Vancouver, Canada. ''CryptoKitties'' is the first major game to use blockchains, and one of the earliest examples of a blockchain project designed for recreation. Gameplay Players purchase, breed and trade virtual cats that have different visual features of varying levels of rarity. Players must purchase Ether cryptocurrency to join the game, and spend it to perform each breeding and trade action within the game. The virtual cats are breedable and carry a unique number and 256-bit distinct genome with DNA and different attributes (known a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-fungible Token
A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. Initially pitched as a new class of investment asset, by September 2023, one report claimed that over 95% of NFT collections had zero monetary value. NFTs can be created by anybody and require little or no coding skill to create. NFTs typically contain references to digital files such as artworks, photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible (hence the name non-fungible token). Proponents claim that NFTs provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. The ownership of an NFT as defined by the blockchain has no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solana (blockchain Platform)
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018. The blockchain has experienced several major outages, Solana wallets were subjected to a hack, and a class action lawsuit was filed alleging that Solana sells unregistered securities, and misled investors about the number of tokens. The SEC has also filed a lawsuit against a cryptocurrency exchange alleging that Solana should be regulated as a security. The value of Solana tokens has fluctuated greatly. Characteristics According to the company's white paper, Solana runs on a proof of stake model. ''The New York Times'' and ''Financial Times'' described the coin as an alternative to Ethereum. History Solana was first opened to the public in March 2020, with its first block being created on 16 March 2020. The Solana blockchain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Visa Inc
Visa Inc. () is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa does not issue cards, extend credit, or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network (known as VisaNet) processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. This article is authored by a ''Forbes'' staff member. Visa was founded in 1958 by Bank of America (BofA) as the BankAmericard credit card program. Available through SpringerLink. In response to competitor Master Charge (now Mastercard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchain
The blockchain is a distributed ledger with growing lists of Record (computer science), records (''blocks'') that are securely linked together via Cryptographic hash function, cryptographic hashes. Each block contains a cryptographic hash of the previous block, a Trusted timestamping, timestamp, and transaction data (generally represented as a Merkle tree, where Node (computer science), data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are resistant to alteration because, once recorded, the data in any given block cannot be changed retroactively without altering all subsequent blocks and obtaining network consensus to accept these changes. Blockchains are typically managed by a peer-to-peer, peer-to-peer (P2P) computer network for use as a public distributed led ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchains
The blockchain is a distributed ledger with growing lists of records (''blocks'') that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are resistant to alteration because, once recorded, the data in any given block cannot be changed retroactively without altering all subsequent blocks and obtaining network consensus to accept these changes. Blockchains are typically managed by a peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to a consensus algorithm protocol to add and validate new transaction bloc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decentralized Finance
Decentralized finance (often stylized as DeFi) provides financial instruments and services through smart contracts on a programmable, permissionless blockchain. This approach reduces the need for intermediaries such as brokerages, exchanges, or banks. DeFi platforms enable users to lend or borrow funds, speculate on asset price movements using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. The DeFi ecosystem is built on a layered architecture and highly composable building blocks. While some applications offer high interest rates, they carry high risks. Coding errors and hacks are a common challenge in DeFi. DeFi protocols exhibit varying degrees of decentralization, with truly decentralized protocols potentially acting as neutral infrastructure, while false decentralization leaves protocols open to manipulation and fraud or to being regulated as financial intermediaries. History Decentralized exchanges (abbreviated DEXs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peer-to-peer Network
Peer-to-peer (P2P) computing or networking is a distributed application Distributed computing is a field of computer science that studies distributed systems, defined as computer systems whose inter-communicating components are located on different computer network, networked computers. The components of a distribu ... architecture that partitions tasks or workloads between peers. Peers are equally privileged, equipotent participants in the network, forming a peer-to-peer network of Node (networking), nodes. In addition, a personal area network (PAN) is also in nature a type of Decentralized computing, decentralized peer-to-peer network typically between two devices. Peers make a portion of their resources, such as processing power, disk storage, or network bandwidth, directly available to other network participants, without the need for central coordination by servers or stable hosts. Peers are both suppliers and consumers of resources, in contrast to the traditional clie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
