Non-Fungible Tokens (NFT)
By | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
Related Terms
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Virtual AMM (vAMM)
The vAMM functions similarly like an AMM but does not contain an actual asset pool.
zkOracle
A zkOracle is an advanced concept in blockchain technology that combines the properties of oracles with the principles of zero-knowledge proofs.
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