Explain Like I'm Five (ELI5)
By CoinGecko | Updated on Mar 03, 2020
Stands for “Explain Like I’m 5”, typically used in cases where technical/difficult scenarios are broken down into simple, and easy to understand terms. In a way, the goal is literally explain a concept in a manner that is simple enough for a five-year-old to understand.
Related Terms
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Bakkt
Bakkt is a company developed by the Intercontinental Exchange (ICE), owner of the New York Stock Exchange. It specializes in Futures/Options contracts for cryptocurrencies.
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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