(noun): A type of digital or electronic money that exists only in virtual or digital form, typically used for online transactions.
Example: Bitcoin is a popular virtual currency that can be used to buy goods and services online.
(noun): A participant in a blockchain network who checks and verifies the accuracy of transactions and ensures their legitimacy.
Example: As a validator, John’s role is to validate and authenticate new transactions on the blockchain.
(noun): A secure storage container or space used to protect valuable assets, such as money, documents, or precious items.
Example: The bank’s vault is equipped with advanced security systems to safeguard customers’ valuables.
VPN (Virtual Private Network)
(noun): A private network that allows users to securely connect to the internet by encrypting their data and routing it through a remote server.
Example: Using a VPN, Sarah can access her company’s network and work from home while keeping her data protected.
(noun): A method or process used for casting and counting votes in elections or decision-making scenarios.
Example: The electronic voting system enabled citizens to cast their votes easily and efficiently during the election.
(noun): The degree of fluctuation or instability in the price or value of a financial asset, such as stocks, cryptocurrencies, or commodities.
Example: The high volatility of the cryptocurrency market makes it challenging to predict price movements accurately.
(noun): In a blockchain network, the incentives or benefits given to validators for successfully validating and securing transactions.
Example: As a validator, Mark earns validator rewards in the form of additional cryptocurrency tokens for his contribution to the network’s security.
(noun): A computer or device that participates in a blockchain network by running specific software to validate transactions and maintain the network’s integrity.
Example: Jane set up a validator node on her server to actively participate in the blockchain network and earn rewards for her validation efforts.