Cross-chain interoperability is the ability for different blockchain networks to communicate and share information or assets with each other. This means users can move data or tokens across separate blockchains without needing a central exchange or authority. It helps create a more connected and flexible blockchain ecosystem, making it easier for projects and users to…
Category: Digital Tokens
Token Hijacking
Token hijacking is when someone gains access to a digital token that is meant to prove your identity in an online system. These tokens are often used to keep you logged in or to confirm your access rights. If an attacker steals your token, they can pretend to be you without needing your password. This…
Fiat On-Ramp / Off-Ramp
A fiat on-ramp is a service or platform that allows people to exchange traditional money, like pounds or euros, for digital assets such as cryptocurrencies. A fiat off-ramp does the opposite, enabling users to convert digital assets back into traditional money. These systems are essential for making digital assets accessible to everyday users and for…
NFT Royalties
NFT royalties are payments set up so that the original creator of a digital asset, like artwork or music, receives a percentage each time the NFT is resold. These royalties are coded into the NFT’s smart contract, which automatically sends the agreed percentage to the creator whenever a sale happens on compatible marketplaces. This system…
Soulbound Tokens (SBTs)
Soulbound Tokens (SBTs) are a type of digital token that cannot be transferred from one person to another once they are issued. Unlike typical cryptocurrencies or NFTs, SBTs are designed to represent personal achievements, credentials, or memberships that are unique to an individual. They are stored in a digital wallet and function as a permanent…
Sidechain
A sidechain is a separate blockchain that runs alongside a main blockchain, allowing digital assets to be transferred between them. Sidechains can operate under different rules and features, making them useful for testing new ideas or handling specific tasks without affecting the main network. They are often used to improve scalability, security, or add new…
Wrapped Tokens
Wrapped tokens are digital assets that represent another cryptocurrency on a different blockchain. They allow tokens from one blockchain, like Bitcoin, to be used on another, such as Ethereum, by creating a compatible version. This makes it possible to use assets across different platforms and take advantage of various services, such as decentralised finance applications.
Token Airdrop
A token airdrop is when a blockchain project distributes free tokens or cryptocurrencies to a group of people, usually to promote the project or reward loyalty. Recipients might be chosen based on criteria like holding a specific cryptocurrency, participating in a community, or signing up for an event. The process is designed to spread awareness…
Token Vesting Schedule
A token vesting schedule is a plan that determines when and how tokens are gradually released to recipients, such as founders, team members or investors. Instead of receiving all their tokens at once, recipients get them over a set period, often with specific milestones or dates. This method helps encourage long-term commitment and reduces the…
Off-Chain Voting
Off-chain voting refers to any voting process that happens outside a blockchain network. Instead of recording each vote directly on the blockchain, votes are collected and managed using external systems, such as websites, databases, or messaging platforms. The results can later be submitted to the blockchain for verification or action if needed. This method can…