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Little Boy 2024

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Little Boy 2024
@littleboy2024
What is UTXO Wallet balances in cryptocurrency networks are not actually stored as a variable, like John Doe’s balance: 100 BTC. Instead, they are calculated from several UTXOs, which are essentially units of unspent cryptocurrency left over from the sum of all transactions made on the wallet. Cumulatively, the sum of an address’s UTXOs make up that wallet’s available balance.
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Little Boy 2024
@littleboy2024
Claiming my @socialtoken airdrop and crediting @pry with my social airdrop
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Little Boy 2024
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What is Solidity Solidity is a high-level programming that is used to write smart contracts. Created by Gavin Wood, co-founder of Ethereum, Solidity allows developers to create immutable, unstoppable programs that anyone can interact with.
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What is SegWit SegWit, short for segregated witness, was an update to the Bitcoin network in August 2017 that aimed to increase the number of transactions that are able to fit onto each block by removing signature data from transactions.
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Little Boy 2024
@littleboy2024
Check your $DEGEN Stats. Frame by @nikolaiii 🚀
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Little Boy 2024
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Testnet Smart contract platforms like Ethereum and Binance Smart Chain provide developers a testing environment in which they can deploy and test smart contracts, called a testnet. These testing environments usually work the same as the main network, but where the cryptocurrencies used are valueless and can be acquired for free from a testnet faucet.
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What is Smart contracts A smart contract is a program that is stored on, and operated by, a blockchain network. Smart contract platforms like Ethereum allow developers to create decentralized applications that can work with cryptocurrencies in order to provide transparent financial tools and services for end users.
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What is Proof-of-work Proof-of-work, or PoW, is another consensus mechanism that leverages a network of computers called miners that verify transactions in exchange for crypto rewards. Anyone can become a miner, competing to create new blocks by using computing resources to solve a cryptographic puzzle called a hash. The first to do this earns the right to append their new block to the blockchain.
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Little Boy 2024
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I'm Ⓜ️oxiefers 💜
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Little Boy 2024
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What is Proof-of-stake Proof-of-stake, or PoS, is a consensus mechanism used by blockchains to ensure correct data is stored to the blockchain. In proof-of-stake blockchains, participants who deposit an amount of cryptocurrency to the network (known as “staking”) are given the opportunity to help generate new blocks and earn block rewards.
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What is Nonce A nonce is a random whole number that miners in proof-of-work blockchains like Bitcoin iterate over to solve the cryptographic puzzle that allows them to add a new block and earn the block reward. A miner’s goal is to find a nonce where the SHA-256 hashed output begins with a certain number of zeroes. This allows PoW networks to adjust the mining difficulty, requiring more zeros if blocks are being mined too fast.
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What is Node A node is a type of participant in the blockchain network that stores data and contributes to the consensus process to ensure that all new transactions and blocks are valid. Miners act as full nodes, but anyone may also operate a node to monitor the network without contributing computing resources.
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What is Hash rate Measuring unit of processing power—it tells how many network-specific calculations are done per second by the Bitcoin network. A hash rate of 1 tera hash means the network can perform 1 trillion calculations in one second
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What is Fork A fork describes a situation where a blockchain experiences a change in the protocol that produces two parallel chains. Forks typically occur when crypto developers or communities decide that the protocol must be changed or updated in some way. There are two types of forks: hard forks, which break backwards-compatibility and cause a new currency to be issued, and soft forks, which update the ruleset—requiring support from a majority of the network’s participants.
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What is FOMO Fear of missing out. A type of social anxiety arising from the notion that others are having fun or enjoying the benefits of an event while the person experiencing FOMO isn’t. In crypto markets, it usually refers to watching the tokens you do not own go through explosive upward price movements.
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What is Fiat Fiat refers to types of money within the traditional financial ecosystem. Examples of fiat currencies are the US dollar and the euro. Working with fiat currencies in the blockchain landscape typically requires trusting a centralized central entity to custody your funds.
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What is DAO A DAO, or decentralized autonomous, organization refers to a business entity that is represented as transparent rules in a number of smart contracts. They aim to reduce centralization as much as possible, typically giving the community the ability to govern the future of the DAO and its products by voting for or against any proposed changes or updates.
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What is Gas. Transactions on the Ethereum network carry a fee. For every transaction, users must pay an amount of the native Ethereum currency, Ether (ETH). This fee is referred to as gas. Gas is used to reward Ethereum validators for the energy they use clearing transactions. Gas also serves as a deterrent against malicious use of the blockchain.
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What's dApp. Short for decentralized application, a dApp is an app that isn’t controlled by a central authority. Twitter is an example of a centralized app, with users relying on it as an intermediary to send and receive messages. A dApp is distributed on a blockchain, allowing users to send and receive data directly without an intermediary.
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I just won 239 $DEGEN in Gate of Degen! @degengate
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