Oracles
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts. Oracles are needed for decentralized programmes to function trustlessly as using data from a centralized source would cause a programme to have a weak spot that can be easily manipulated.
Related Terms
Cryptocurrency Act of 2020
The Cryptocurrency Act of 2020 is a bill which aims to clarify which federal agencies would regulate which type of crypto assets.
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.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Total Value Locked
Total Value Locked (TVL) represents the number of assets that are currently staked in a protocol or the total quantity of underlying amount of funds that a DeFi protocol has secured.
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