(adjective): Refers to software or projects that are made freely available to the public, allowing anyone to view, modify, and distribute the source code.
Example: “The open-source community collaborated to develop a powerful image editing software.”
(noun): In technology, an oracle usually refers to a software mechanism or service that provides information or answers to queries, often in the context of blockchain and smart contracts.
Example: “The smart contract relied on an oracle to fetch real-time weather data for its automated insurance payout.”
(noun): A decentralized network of oracles that collectively provide information and data to blockchain applications, enabling them to interact with external systems or access real-world data.
Example: “The decentralized finance (DeFi) platform utilized an oracles network to fetch accurate price data for its automated trading algorithms.”
(verb): The process of integrating or introducing new users or employees to a system, platform, or organization, often involving providing necessary information, tools, and training.
Example: “The company conducted an onboarding session to familiarize new employees with company policies and procedures.”
(noun): A digital token or asset that represents ownership or a stake in a particular asset, project, or organization.
Example: “The art platform issued ownership tokens to investors, granting them fractional ownership of valuable artworks.”
(noun): Abbreviation for “over-the-counter” trading, referring to the direct trading of financial assets between parties without the involvement of a centralized exchange.
Example: “The private sale of cryptocurrency between two individuals was conducted through OTC trading to negotiate the terms directly.”
(noun): Data that is stored, processed, or transmitted outside of the main blockchain network, often in secondary databases or systems.
Example: “The decentralized application (dApp) used off-chain data to store large amounts of user-generated content, reducing congestion on the blockchain.”
(noun): The process of carrying out or fulfilling a trade or transaction, typically referring to the action of executing a buy or sell order in a financial market.
Example: “The broker ensured swift order execution for their clients by leveraging advanced trading algorithms.”