TXID
A Transaction Identifier, or TXID, is a unique string of characters that serves as a reference number for individual transactions on a blockchain network. This identifier allows users and systems to track and verify transactions efficiently. Recent data from blockchain analytics platforms shows that the daily number of transactions across major networks like Bitcoin and...
Uncle Block
An "Uncle Block" is a term used in blockchain technology, specifically in Ethereum, to refer to a block that is a valid candidate for inclusion in the blockchain but does not become part of the main chain. Instead, it is referenced by subsequent blocks and rewards its miners with a smaller reward compared to the...
Utility Coin
A utility coin is a type of cryptocurrency designed to be used primarily within a specific ecosystem, providing users with access to products or services facilitated by the blockchain technology. Unlike cryptocurrencies like Bitcoin or Ethereum, which are often seen as stores of value or mediums of exchange, utility coins serve specific functional purposes within...
UUPool
UUPool is a renowned global mining pool that provides cryptocurrency miners with a platform to mine digital currencies. It is a decentralized system that allows miners to combine their computational power to solve complex mathematical problems, thereby increasing their chances of earning cryptocurrency rewards. UUPool: A Brief Overview The inception of UUPool can be traced...
Validator
A "validator" in the context of blockchain technology is a node that participates in the consensus mechanism of a blockchain network, responsible for verifying and validating new transactions and blocks. Validators play a critical role in maintaining the integrity, security, and continuity of the blockchain. Role and Mechanism of Validators Validators are pivotal to the...
Validators
Validators are crucial components in blockchain networks that participate in the consensus mechanism and validate transactions. They ensure the integrity and security of the decentralized ledger, playing a pivotal role in maintaining the network's functionality and trustworthiness. Recent data from various blockchain networks illustrates the growing importance of validators. For instance, Ethereum's shift from proof-of-work...
Validity Proof
Validity Proof is a term used in the blockchain and cryptocurrency world to denote a mechanism that verifies the authenticity of transactions within a blockchain network. It is a critical component in ensuring the security and integrity of blockchain transactions. Understanding the Concept of Validity Proof Validity Proof, also known as proof of validity, is...
Validium
Validium is a scalability solution for Ethereum that combines the benefits of zkRollups and Volition. It allows for the offloading of data computation off-chain, while keeping data storage on-chain, resulting in a more efficient and cost-effective system. Understanding Validium Validium, as a layer-2 solution, aims to address the scalability issues that plague Ethereum. It does...
Verifiable Delay Function (VDF)
A Verifiable Delay Function (VDF) is a cryptographic primitive that requires a specified amount of time to compute, yet produces a unique output that can be quickly and easily verified. This function is pivotal in environments where the assurance of elapsed time is crucial, such as in blockchain protocols and secure multiparty computations. Recent advancements...
Vesting
Vesting is a legal process through which an individual gains ownership of certain assets, such as stock options or employer-contributed funds to a retirement plan, over time. This mechanism is designed to incentivize employees to remain with a company for a certain period, aligning their interests with the long-term goals of the organization. Historical Context...
Explore the MEXC Blog Glossary Archive to deepen your understanding of cryptocurrency and blockchain technology. This comprehensive resource features clear, easy-to-understand definitions of key crypto-related terms, concepts, and industry jargon. Whether you’re a beginner or an experienced trader, the glossary helps you stay informed, make smarter investment decisions, and navigate the fast-evolving crypto landscape with confidence. Start learning today and boost your crypto knowledge with MEXC!
