Encryption basics
Detailed explanation of public and private keys
Summary Signing Transactions: You can sign and verify transactions using your private key. Keep your private key safe, as other entities or individuals cannot transact without your permission. Mnemonic Phrase: A mnemonic phrase consists of 12-24 ...
Blockchain
Blockchain, fundamentally, is a shared database. The data or information stored in it possesses characteristics such as being “unforgeable,” “traceable,” “transparent,” and “collectively maintained.” Blockchains can generally be divided into three ...
Decentralized Finance/DeFi
Decentralized Lending Decentralized lending refers to the process of matching borrowers and lenders through decentralized lending protocols, followed by immediate asset transfer and loan completion upon collateral confirmation. These protocols ...
Decentralized Exchange (DEX)/Decentralized Application (DApp)
Decentralized Exchanges (DEX) A Decentralized Exchange (DEX) is contrasted with traditional centralized exchanges (CEX). Both aim to provide a platform for information sharing and cryptocurrency trading. Unlike centralized exchanges, DEXs achieve ...
An analysis of the relationship between the Metaverse, NFT, and GameFi.
Preface: This article will make a cursory analysis of the three concepts - Metaverse, NFT, and GameFi - which have recently attracted high attention in the crypto market, as well as the relationship among these three. Due to the lack of a clear and ...
Introduction to the Metaverse
The Metaverse, originating from Neal Stephenson’s 1992 novel “Snow Crash,” describes a virtual world parallel to the real world, where everyone in real life has a digital avatar. Currently, there is no unified definition of the Metaverse, but it is ...
Digital signature
A digital signature, also known as a public key digital signature, is a string of digits that can only be generated by the sender of the information and cannot be forged by anyone else. This string of digits also serves as valid proof of the ...
Double spending
“Double spending,” or double payment, refers to a situation in digital asset networks where the same digital asset is improperly used more than once due to the replicability of data.
Fork
Forks in blockchain networks are essentially splits. The network is open-source software, and the code can be freely used. This means that anyone can propose improvements and make changes to the code. The option to experiment with open-source ...
Wallet
A wallet is a software program or hardware device that stores digital assets. It is similar in form to an online banking account (but fundamentally different from a bank account) and also includes customer identification, account numbers, and ...
private key
A private key is often said to be the critical factor that determines your control over the funds in a wallet. In blockchain transactions, the private key is used to generate the necessary signature for paying with cryptocurrency, thereby proving ...
Mnemonic phrase
Mnemonic phrases are another form of representation for plaintext private keys, first proposed by the BIP39 proposal. Their purpose is to help users remember complex private keys. Mnemonic phrases generally consist of 12, 15, 18, or 21 words, all of ...
Miners
This is a metaphorical expression, referring to the group of individuals who provide computing power and compete for the right to record transactions based on that computing power. Taking Bitcoin miners as an example, under Bitcoin’s Proof of Work ...
Miner fee
Miner fee, simply put, is the fee paid to miners for processing transactions on the Ethereum blockchain. Miners pack your transaction into a block and add it to the blockchain, completing the transaction. This process consumes computational resources ...
Hash (TXID)
Hash value, also known as HASH value, is typically represented by a short string of random letters and numbers. It is a “data fingerprint” generated by applying a hash algorithm to an input of arbitrary length, resulting in a set of binary values ...
DAO
DAO, sometimes also known as a Decentralized Autonomous Corporation (DAC), is an organization represented by rules encoded as computer programs, which are transparent, controlled by shareholders or token holders, and unaffected by central ...
Cross-chain bridge
Cross-chain bridges serve as a bridge between two different public blockchains, providing a channel for native assets to be custodied on this bridge. Meanwhile, one blockchain can obtain information about asset transactions on the other through an ...
EIP-1559
EIP-1559, a proposal for Ethereum, has altered the fee structure of the network by burning the ETH used for transaction fees instead of allocating it to miners. This change aims to reduce the volatility of transaction fees. EIP-1559 deviates from the ...
ERC-20
ERC-20 is an interface standard (protocol) for Ethereum-based tokens (Tokens). All tokens that comply with the ERC-20 standard can be immediately compatible with Ethereum wallets. ERC-20 was born in 2015 and was formally standardized in September ...
Introduction to Bitcoin ETF
What is a Bitcoin ETF? A Bitcoin ETF, which stands for Bitcoin Exchange Traded Fund, allows traders to gain exposure to Bitcoin risk through the traditional stock market without having to directly hold Bitcoin. Depending on the specific trading ...
About MyToken
MyToken is a leading one-stop crypto platform that provides global cryptocurrency, real-time tickers, charts, data analysis such as ranking, ratings, wallet and global industry news，serving over 60 million users in more than 100 countries. Operating ...
What is the Bitcoin Fear Index?
When currency prices begin to plummet, investor sentiment will be affected, and this sentiment is often reflected in currency prices. In order to quantify the impact of this emotion on the market, the "Bitcoin Fear Index" was born. What is the ...
Cryptocurrency Wallet Basics
What is a blockchain wallet? What are hot wallets and cold wallets? 1: Simply speaking, blockchain decentralizes previously centralized data, making it open, transparent and unable to be tampered with. Anyone can see the generation and flow of data. ...
The difference between spot trading and contract trading!
What is cryptocurrency contract trading? A cryptocurrency contract is a contract that represents the value of a specific cryptocurrency. When you purchase a futures contract, you do not own the underlying cryptocurrency. What you have is a contract ...
What are Bitcoin contracts? What is the difference between delivery contracts and perpetual contracts?
1. What is a Bitcoin contract? Bitcoin futures, also known as Bitcoin contracts, are very different from currency-to-crypto transactions, which must actually hold the digital currency. Bitcoin contracts enable you to predict Bitcoin price movements ...
What is DEX? What is the difference between DEX and centralized exchange?
1. What is DEX? DEX is a New Big Trend in Crypto | Finance Magnates DEX, the full name of Decentralized exchange, is an exchange based on blockchain. It does not store user funds and personal data on the server, but only serves as an infrastructure ...
Learn about the relationship between Bitcoin and blockchain in one article!
Blockchain can be divided into public (owned) chain, private (owned) chain and alliance chain according to its degree of openness. The so-called openness refers to whether everyone can freely join the blockchain, obtain information on the chain, and ...
What are Stablecoins, Mainstream Coins, and Altcoins?
The Concept and Classification of Stablecoins A stablecoin is fundamentally a cryptocurrency with an “anchoring” attribute, usually pegged to fiat currencies like the US dollar or other assets with stable value. This ensures minimal price volatility. ...