Custody
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of cryptocurrency, a "custodial" asset means an asset is placed under the care of a third party. This is similar to how banks have custody over their customer's funds. A Custodial Wallet refers to a wallet whose private key management falls under the care of a company. Examples of Custodial wallets include Coinbase, Nexo and other wallets where users do not have access to their private keys.
Related Terms
Immutable
A property characterized by inability to be change and stays unchanged over time.
Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Scrypt
one of the hashing algoritm used in proof-of-work protocol, scrypt requires more memory in order to performing mining functions
Emission
The speed/rate at which new coins are minted and released as dictated by the protocols written.
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