Glossary

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Glossary

Fiat currency Traditional currencies such as USD or EUR
Proof-of-Stake (PoS) Type of algorithm by which a blockchain aims to achieve consensus. The generator of the next block is determined by the size of his stake. The bigger his stake, the higher his chance.
Proof-of-Work (PoW) Type of algorithm by which a blockchain aims to achieve consensus. The algorithm rewards network participants who solve cryptographical puzzles in order to submit & validate transactions and create new blocks. Also referred to as mining.
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