Open Source: Defined in CryptoCurrency

Open Source: Defined in CryptoCurrency

Open source describes any type of technology that is made public and can be seen, changed, and shared. 

The term is usually used for computer technology that has been made available to anyone and is not protected.

Nonce: Defined in CryptoCurrency

Nonce: Defined in CryptoCurrency

Nonce is defined as a number used while mining cryptocurrency with the hope that it will solve a math problem and earn money.

Mining is defined as the process of using computer power to solve a complex math problem, review and verify information, and create a new block so the information can be added to the blockchain.

Random numbers known as “nonces” are tried one after the other in the hopes of solving the math problem. 

If the nonce doesn’t solve the problem, it is rejected and a new nonce is tested out. Once the problem is solved, the person is eligible to create a new block, add it to the blockchain and get their reward in cryptocurrency.

The activity of using many thousands of nonces to solve a math problem is called brute-force.

Nonce comes from an older English phrase which meant “only once”.

Node: Defined in CryptoCurrency

Node: Defined in CryptoCurrency

A node is defined as any computing device (computer, phone, etc.) that is maintaining a network.

Cryptocurrencies are supported by a network of computers each keeping a digital record of the data known as a blockchain.

A computer, a phone, or any other computing device that can receive, transmit, and/or contribute to the blockchain is a node.

Neo [NEO]: Defined in CryptoCurrency

Neo [NEO]: Defined in CryptoCurrency

Neo is a cryptocurrency that has similar technology to Ethereum allowing developers to build their own cryptocurrency. 

Because ethereum is #2 in the crypto universe, comparing neo to it has boosted neo’s value. The first coin being developed with NEO is Redpulse.

Security Token Offering [STO]: Defined in CryptoCurrency

Security Token Offering [STO]: Defined in CryptoCurrency

A Security Token Offering (STO), is defined as a way for investors to use their money to support a new cryptocurrency project in a way that US Securities and Exchange Commission (SEC) will approve. 

Originally, investors would participate in an Initial Coin or Token Offering (ICO/ITO) and in return received some crypto. The hope was that the team would develop something valuable with the money.

The problem is, in the near future, ICOs and ITOs may not comply with American SEC laws. That means some cryptocurrencies who have already had an ICO or ITO may have future regulation and penalties applied.

However, an STO complies with many of the rules and regulations expected to be used in the cryptocurrency space.

A security is an investment that is backed by real-world value. In other words, it represents something actually valuable:

• A security could represent a tiny ownership of a company (like a stock).
• A security could represent money a government or company borrowed and promises to pay you back (like a bond).
• A security could also represent ownership of some other asset, profit, or revenue. An STO uses this model.

To invest in an STO, you must be an accredited investor. As an individual that means you must meet one of these two requirements:

• A single individual needs an income of at least $200,000 or a couple with at least $150,000 for the last two years and expect to earn the same or greater this year.
• Net worth of over $1,000,000 excluding the value of your primary home.

Transaction [TX]: Defined in CryptoCurrency

Transaction [TX]: Defined in CryptoCurrency

Transaction or TX, is the transfer of money from one person to another for a business deal.

Total Supply: Defined in CryptoCurrency

Total Supply: Defined in CryptoCurrency

Total supply is the complete amount of coins currently available for a cryptocurrency not including any coins that were burnt. Burning coins is the action of sending cryptocurrency to an address which is unspendable.